NextEra Energy Partners, LP (Form: 8-K, Received: 10/03/2019 16:24:15)

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 earliest event reported: September 29, 2019



Commission File Number	Exact name of registrant as specified in its charter, address of principal executive offices and registrant's telephone number	IRS Employer Identification Number
1-36518	NEXTERA ENERGY PARTNERS, LP	30-0818558

700 Universe Boulevard

Juno Beach, Florida 33408

(561) 694-4000

State or other jurisdiction of incorporation or organization: Delaware

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:



Title of each class	Trading Symbol	Name of exchange on which registered
Common Units	NEP	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

SECTION 1 - REGISTRANT'S BUSINESS AND OPERATIONS

Item 1.01 Entry into a Material Definitive Agreement

(a) On September 29, 2019, Meade Pipeline Investment, LLC (purchaser), an indirect subsidiary of NextEra Energy Partners, LP (NEP), entered into a purchase and sale agreement (purchase and sale agreement) with EIF Meade Holdings, LLC, VED NPI II, LLC, VED NPI I, LLC, WGL Midstream MP, LLC and COG Holdings, LLC (collectively, the sellers). Pursuant to the purchase and sale agreement, the purchaser will acquire all of the ownership interests in Meade Pipeline Co LLC (Meade) for cash consideration of $1.28 billion, subject to working capital and other customary purchase price adjustments, plus estimated future capital contributions of approximately $90 million that are related to the expansion project discussed below.

Meade owns a 39.2% ownership interest in the Central Penn Line (CPL), a 185-mile natural gas pipeline that operates in Pennsylvania with capacity to transport and deliver up to approximately 1.7 billion cubic feet (Bcf) of natural gas per day. Meade also owns a 40% ownership interest in an expansion project (the Expansion) that is expected to add an estimated 0.6 Bcf per day of natural gas capacity to CPL through the addition of compression at new and existing stations, which is scheduled for commercial operation by mid-2022, subject to receipt of certain regulatory approvals. The remaining approximately 60% ownership interests in CPL and the Expansion are owned by Transcontinental Gas Pipe Line Company, LLC (Transco), which also serves as operator for CPL. Meade currently leases its proportionate capacity in CPL and will lease its proportionate capacity in the Expansion to Transco in return for long-term fixed lease payments.

The purchase and sale agreement contains customary representations, warranties, covenants and agreements. Among other covenants, Meade has agreed, for the period between the execution of the purchase and sale agreement and closing, to conduct its business in substantially the same manner previously conducted, not to engage in certain types of activities and transactions, and not to solicit, or provide information or enter into discussions concerning, proposals for alternative sale transactions. The purchase and sale agreement may be terminated by either the sellers or the purchaser for various reasons, including mutual written consent or if the Meade acquisition does not close on or before March 27, 2020.

Under the purchase and sale agreement, the purchaser and the sellers have agreed to indemnify each other against certain losses resulting from any breach of their respective covenants and obligations contained in the purchase and sale agreement, subject to certain limitations and survival periods. In addition, the purchaser has agreed to indemnify the sellers against certain losses resulting from any breach of its representations and warranties, subject to certain limitations and survival periods, while the purchaser has obtained a customary representation and warranty insurance policy to insure it against certain losses resulting from breaches of the sellers' representations and warranties.

The Meade acquisition is expected to close within 60 days, subject to the satisfaction or waiver of customary closing conditions and regulatory approvals, including the expiration or termination of any required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. NEP expects to fund the Meade acquisition with the net proceeds of the project financing discussed in Item 2.03 in this Current Report on Form 8-K, net proceeds from the $168 million financing transaction described in (b) below and capacity under a credit facility.

The foregoing description of the purchase and sale agreement is qualified in its entirety by reference to the purchase and sale agreement filed as Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by reference.

(b) On September 29, 2019, NEP, NextEra Energy Partners Pipelines Holdings, LLC (NEP Pipelines Holdings) and NextEra Energy Partners Pipelines, LLC (NEP Pipelines) entered into a membership interest purchase agreement (membership purchase agreement) with GEPIF III Meade Investco, L.P. (the Class B purchaser), an affiliate of a fund managed by BlackRock Global Energy & Power Infrastructure (BlackRock), for the purpose of financing a portion of the Meade acquisition. The Class B purchaser has committed to pay $168 million to NEP Pipelines for 100% of the non-controlling Class B interests in NEP Pipelines, subject to conditions specified in the membership purchase agreement. NEP Pipelines Holdings will hold 100% of the Class A interests and NEP will consolidate NEP Pipelines.

Under the amended and restated limited liability company agreement of NEP Pipelines (the LLC agreement) that will be entered into at closing, NEP, through its indirect ownership of NEP Pipelines Holdings, will receive approximately 99% of NEP Pipelines' cash distributions for the first six years after closing, and BlackRock will receive approximately 1%, which implies a yield to BlackRock of approximately 1% per year for the first six years. From the third and one half to the sixth and one half anniversary of the closing, NEP has the option (the buyout right), subject to certain limitations, to purchase BlackRock’s interest in NEP Pipelines at a buyout price that implies a fixed pre-tax annual levered return of approximately 11% to BlackRock (inclusive of all prior distributions). If exercised, subject to certain terms and conditions, NEP has the right to pay up to 100% of the buyout price in NEP non-voting common units, issued at the then-current market price of NEP common units. Following the sixth anniversary after closing, if NEP has not exercised its entire buyout right, or following the fifth anniversary after closing if certain minimum buyouts have not occurred, BlackRock’s allocation of distributable cash flow from the portfolio for the portion of the Class B membership interests that have not been purchased by NEP would increase to 99%. NEP will give BlackRock, under a registration rights agreement to be entered into at closing, certain rights to require NEP to file a shelf registration for the common units that are issuable if NEP exercises the buyout right.

The foregoing description of the membership purchase agreement is qualified in its entirety by reference to the membership purchase agreement filed as Exhibit 2.2 to this Current Report on Form 8-K and incorporated herein by reference.

BlackRock is also the indirect owner of approximately 64% of the outstanding Series A convertible preferred units representing limited partner interests in NEP that were issued in November 2017 and is an indirect owner of the noncontrolling Class B interest in NEP Renewables, LLC.

SECTION 2 - FINANCIAL INFORMATION

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On September 29, 2019, the purchaser (borrower) and Meade Pipeline Investment Holdings, LLC (together with the borrower, the loan parties) entered into a credit agreement to finance a portion of the Meade acquisition and the Expansion. The credit agreement provides up to $920 million under three limited-recourse senior secured variable rate term loans (term loans) maturing in 2026. NEP expects to borrow, subject to the conditions specified in the credit agreement, approximately $820 million simultaneously with the closing of the Meade acquisition and the remaining amount available under the credit agreement regularly through the completion of the Expansion. Interest on each of the term loans is based on the London Interbank Offered Rate plus a specified margin applicable to each such term loan, with payments being due at the end of interest rate periods which can range from one to twelve months, as selected by the borrower, and, for periods over six months, to the extent available and approved by each lender. Under the credit agreement, the borrower is required to hedge against interest rate movements with respect to the interest payments on the principal amounts of the term loans. Principal of approximately $820 million is partially amortizing through maturity. The remaining principal will be non-amortizing through completion of the Expansion and partially amortizing following such completion.

The term loans are secured by all of the assets of, and the equity interests in, the borrower and its subsidiaries. The credit agreement contains default and related acceleration provisions relating to the failure to make required payments or to observe other covenants in the credit agreement and related documents. All borrowings under the term loans are guaranteed by Meade Pipeline Investment Holdings, LLC, an indirect subsidiary of NEP, and by the subsidiaries of the borrower.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.



Exhibit Number		Description
2.1		Purchase and Sale Agreement by and among EIF Meade Holdings, LLC, VED NPI II, LLC, VED NPI I, LLC, WGL Midstream MP, LLC and COG Holdings LLC, and Meade Pipeline Investment, LLC, dated as of September 29, 2019*
2.2		Membership Interest Purchase Agreement, dated as of September 29, 2019, by and among NextEra Energy Partners Pipelines, LLC, NextEra Energy Partners, LP, NextEra Energy Partners Pipelines Holdings, LLC and GEPIF III Meade Investco, L.P.*
101		Interactive data files for this Form 8-K formatted in Inline XBRL
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

___________________________

* NEP has omitted certain schedules and exhibits pursuant to Item 601(b)(2) of Regulation S-K and shall furnish the omitted schedules to the SEC upon request by the Commission.

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 thereunto duly authorized.

Date: October 3, 2019



NEXTERA ENERGY PARTNERS, LP
(Registrant)



JAMES M. MAY
James M. May Controller and Chief Accounting Officer

Execution Version

Exhibit 2.1

PURCHASE AND SALE AGREEMENT

by and among

EIF MEADE HOLDINGS, LLC,

VED NPI II, LLC,

VED NPI I, LLC,

WGL MIDSTREAM MP, LLC

and

COG HOLDINGS LLC,

as Sellers,

MEADE PIPELINE INVESTMENT, LLC,

as Buyer,

and, separately in its capacity as Sellers’ Representative,

WGL MIDSTREAM MP, LLC,

dated as of

September 29, 2019

4131-0410-4477.35

71569933v.35



TABLE OF CONTENTS
		Page

ARTICLE I. DEFINITIONS AND RULES OF CONSTRUCTION.............................		2

1.1	Definitions...........................................................................................................	2
1.2	Rules of Construction................................................................................	19

ARTICLE II. PURCHASE AND SALE; PURCHASE PRICE; CLOSING.................		21

2.1	Purchase and Sale of Acquired Interests..................................................	21
2.2	Purchase Price............................................................................................	21
2.3	Post-Closing Adjustments..........................................................................	23
2.4	The Closing.................................................................................................	27
2.5	Escrow.........................................................................................................	28

ARTICLE III. REPRESENTATIONS AND WARRANTIES RELATING TO
	EACH SELLER.........................................................................................	30

3.1	Organization...............................................................................................	30
3.2	Authorization; Enforceability...................................................................	30
3.3	No Conflict..................................................................................................	30
3.4	Litigation.....................................................................................................	31
3.5	Brokers' Fees..............................................................................................	31
3.6	Ownership of Acquired Interests..............................................................	31

ARTICLE IV. REPRESENTATIONS AND WARRANTIES RELATING TO THE
	ACQUIRED COMPANIES.......................................................................	32

4.1	Organization...............................................................................................	32
4.2	No Conflict..................................................................................................	33
4.3	Capitalization; Subsidiaries......................................................................	33
4.4	Financial Statements; No Undisclosed Liabilities...................................	36
4.5	Ownership of Property...............................................................................	38
4.6	Litigation.....................................................................................................	38
4.7	Taxes............................................................................................................	38
4.8	Absence of Changes....................................................................................	40
4.9	Contracts.....................................................................................................	40
4.10	Compliance with Laws; Permits...............................................................	41
4.11	Employee Benefit Plans.............................................................................	41
4.12	Intellectual Property..................................................................................	42
4.13	Transactions with Affiliates.......................................................................	42
4.14	Certain Payments.......................................................................................	42
4.15	Records........................................................................................................	42
4.16	Bankruptcy..................................................................................................	42
4.17	Central Penn Line......................................................................................	43
4.18	Bank Accounts............................................................................................	43
4.19	Insurance.....................................................................................................	43




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(continued)

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TABLE OF CONTENTS
(continued)
		Page

ARTICLE V. REPRESENTATIONS AND WARRANTIES RELATING TO
	BUYER........................................................................................................	43

5.1	Organization...............................................................................................	43
5.2	Authorization; Enforceability...................................................................	43
5.3	No Conflict..................................................................................................	44
5.4	Litigation.....................................................................................................	44
5.5	Financial Ability; Solvency........................................................................	44
5.6	Investment Representation........................................................................	45

ARTICLE VI. COVENANTS............................................................................................		46

6.1	Conduct of Business...................................................................................	46
6.2	Access...........................................................................................................	49
6.3	Confidentiality............................................................................................	51
6.4	Third Party and Governmental Approvals..............................................	52
6.5	Indemnification of Officers and Directors...............................................	54
6.6	Update Information...................................................................................	55
6.8	Removal of Trade Names...........................................................................	56
6.9	Further Assurances....................................................................................	56
6.10	Termination of Tax Sharing Agreements.................................................	57
6.11	Exclusivity...................................................................................................	57
6.12	Records........................................................................................................	58
6.13	Financing Cooperation..............................................................................	58

ARTICLE VII. TAX MATTERS.......................................................................................		59

7.1	Tax Returns; General Provisions..............................................................	59
7.2	Cooperation.................................................................................................	61
7.3	Transfer Taxes.............................................................................................	61
7.4	Tax Proceedings..........................................................................................	65
7.5	Tax Classification; Purchase Price Allocations........................................	65

ARTICLE VIII. CONDITIONS AND OBLIGATIONS.................................................		66

8.1	Conditions to the Obligations of the Parties............................................	66
8.2	Conditions to Obligations of Buyer...........................................................	66
8.3	Conditions to the Obligations of Sellers...................................................	67

ARTICLE IX. INDEMNIFICATION...............................................................................		68

9.1	Survival of Representation, Warranties and Covenants........................	68
9.2	Indemnification..........................................................................................	70
9.3	Indemnification Procedures......................................................................	70
9.4	Limitations on Liability.............................................................................	73
9.6	Waiver of Other Representations..............................................................	77


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(continued)

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TABLE OF CONTENTS
(continued)
		Page

9.7	Purchase Price Adjustment.......................................................................	78
9.8	Exclusive Remedy; Limit on Damages.....................................................	78

ARTICLE X. TERMINATION.........................................................................................		78

10.1	Termination.................................................................................................	78
10.2	Effect of Termination.................................................................................	79

ARTICLE XI. MISCELLANEOUS..................................................................................		80

11.1	Notices.........................................................................................................	80
11.2	Assignment..................................................................................................	82
11.3	Rights of Third Parties..............................................................................	82
11.4	Expenses......................................................................................................	82
11.5	Counterparts...............................................................................................	82
11.6	Entire Agreement.......................................................................................	82
11.7	Disclosure Schedules..................................................................................	83
11.8	Amendments...............................................................................................	83
11.9	Publicity.......................................................................................................	83
11.10	Severability..................................................................................................	84
11.11	Governing Law; Jurisdiction....................................................................	84
11.12	Seller Individual and Several Liability.....................................................	85
11.13	Privilege.......................................................................................................	85
11.14	Equitable Remedies....................................................................................	86
11.15	Sellers' Representative...............................................................................	86






















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	iii



Disclosure Schedules

Schedule 2.1		Disclosed Contracts Transfer Restrictions
Schedule 3.3		Seller Approvals
Schedule 3.4		Seller Litigation
Schedule 3.6		Ownership of Acquired Interests
Schedule 4.3		Equity Interests
Schedule 4.4(a)		Company Financial Statements
Schedule 4.4(b)		EIF Meade Financial Statements
Schedule 4.4(c)		EIF Vega Financial Statements
Schedule 4.4(d)		Company Liabilities
Schedule 4.4(e)		Other Acquired Company Liabilities
Schedule 4.4(f)		Indebtedness
Schedule 4.5(a)		Property
Schedule 4.5(b)		Material Real Property Rights
Schedule 4.6		Acquired Company Litigation
Schedule 4.7		Taxes
Schedule 4.8		Certain Changes
Schedule 4.9(a)		Disclosed Contracts
Schedule 4.9(b)		Disclosed Contracts Matters
Schedule 4.10		Compliance with Laws and Permits
Schedule 4.13		Transactions with Affiliates
Schedule 4.18		Bank Accounts
Schedule 5.3		Buyer Approvals
Schedule 6.1		Certain Permitted Conduct of Business

Exhibits

Exhibit A		Form of Assignment and Assumption Agreement
Exhibit B-1		Form of Adjustment Escrow Agreement
Exhibit B-2		Form of Indemnity Escrow Agreement
Exhibit B-3		Form of Transfer Tax Escrow Agreement
Exhibit C		Executed Buyer Parent Guaranty






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Exhibit D		R&W Conditional Binder
Exhibit E		Payment of Purchase Price
Exhibit F		Wire Instructions
Exhibit G		Sample Closing Statement
Exhibit H		Executed Member ROFO Waiver



Annexes
Annex 1		Knowledge Parties
Annex 2		Permitted Liens
Annex 3		Pipeline Interests
Annex 4		Resignations
Annex 5		Sample Company Net Working Capital
Annex 6		Sample EIF Meade Net Working Capital
Annex 7		Sample EIF Vega Net Working Capital
Annex 8		Main Facilities Capex Adjustment Amount






















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	v

PURCHASE AND SALE AGREEMENT

This PURCHASE AND SALE AGREEMENT (this “Agreement”), dated as of September 29, 2019 (the “Execution Date”), is entered into by and among EIF MEADE HOLDINGS, LLC, a Delaware limited liability company (“EIF”), VED NPI II, LLC, a Delaware limited liability company (“VED II”), COG HOLDINGS LLC, a Delaware limited liability company (“COG”), WGL MIDSTREAM MP, LLC, a Delaware limited liability company (“WGLM”), and VED NPI I, LLC, a Delaware limited liability company (“VED I”, and together with EIF, VED II, COG and WGLM each a “Seller” and collectively, “Sellers”), MEADE PIPELINE INVESTMENT, LLC, a Delaware limited liability company (“Buyer”), and, separately in its capacity as Sellers’ Representative (as defined herein), WGLM.

RECITALS

WHEREAS, EIF owns one hundred percent (100%) of the issued and outstanding limited liability company interests (the “EIF Acquired Interests”) in EIF Meade Pipeline, LLC, a Delaware limited liability company (“EIF Meade”), which owns ninety percent (90%) of the issued and outstanding limited liability company interests in EIF Vega Midstream, LLC, a Delaware limited liability company (“EIF Vega”), subject to VED II’s distribution rights described below;

WHEREAS, VED II owns ten percent (10%) of the issued and outstanding limited liability company interests in EIF Vega, which limited liability company interests entitle VED II to certain additional distribution rights as set forth in the Organizational Documents (as defined herein) of EIF Vega (the “VED II Acquired Interests”);

WHEREAS, EIF Vega owns one hundred percent (100%) of the issued and outstanding limited liability company interests in (a) River Road Interests LLC, a Delaware limited liability company (“River Road”), which owns ten percent (10%) of the issued and outstanding limited liability company interests in Meade Pipeline Co LLC, a Delaware limited liability company (the “Company”), and (b) Vega Midstream MPC LLC, a Delaware limited liability company (“Vega Midstream” and together with EIF Meade, EIF Vega, River Road and the Company, each an “Acquired Company”, and together, the “Acquired Companies”), which owns fifteen percent (15%) of the issued and outstanding limited liability company interests in the Company;

WHEREAS, COG owns twenty percent (20%) of the issued and outstanding limited liability company interests in the Company (the “COG Acquired Interests”);

WHEREAS, WGLM owns fifty-five percent (55%) of the issued and outstanding limited liability company interests in the Company, subject to VED I’s distribution right described below (the “WGLM Acquired Interests”);

WHEREAS, VED I owns a limited liability company interest in the Company that (a) has a zero percent (0%) Percentage Interest (as defined in the Company LLC Agreement (as defined herein)) and (b) entitles the holder of such interest to certain specified rights as a Member (as defined herein) of the Company, including the right to a portion of the distributions in respect of the WGLM Acquired Interests as set forth in the Company LLC Agreement (the “VED I

Acquired Interests” and together with the EIF Acquired Interests, the VED II Acquired Interests, the COG Acquired Interests and the WGLM Acquired Interests, the “Acquired Interests”);

WHEREAS, the Company owns one hundred percent (100%) of the Pipeline Interests (as defined herein);

WHEREAS, upon the terms and subject to the conditions set forth in this Agreement, Sellers desire to sell to Buyer, and Buyer desires to purchase from Sellers, the Acquired Interests;

WHEREAS, Sellers wish to designate WGLM as Sellers’ Representative for the limited purposes expressly set forth in this Agreement, and WGLM is executing this Agreement both in its capacity as a Seller and in its capacity as Sellers’ Representative;

WHEREAS, simultaneously with the execution hereof, Buyer Parent (as defined herein) has executed and delivered to Sellers a guaranty on behalf of Buyer, a copy of which is attached hereto as Exhibit C;

WHEREAS, simultaneously with the execution hereof, each Member has executed and delivered to Buyer the Waiver of Right of First Offer and Consent to Transfer of Company Interests, a copy of which is attached hereto as Exhibit H (the “Member ROFO Waiver”); and

WHEREAS, prior to the date hereof, the Parties entered into the Operator Settlement Agreement (as defined herein).

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the Parties agrees as follows, intending to be legally bound:

ARTICLE I.

DEFINITIONS AND RULES OF CONSTRUCTION


1.1	Definitions.

As used herein, the following terms shall have the following meanings:

“Acquired Company” or “Acquired Companies” has the meaning provided such term in the recitals of this Agreement.

“Acquired Interests” has the meaning provided such term in the recitals of this Agreement.

“Acquisition Proposal” has the meaning provided such term in Section 6.11(a)(i).

“Adjustment Escrow Account” means the account maintained by the Escrow Agent pursuant to the Adjustment Escrow Agreement.

“Adjustment Escrow Agreement” means that certain Escrow Agreement (Adjustment), by and among Buyer, Sellers’ Representative and the Escrow Agent, in substantially the form attached hereto as Exhibit B-1.

“Adjustment Escrow Amount” means Ten Million Dollars ($10,000,000).

“Adjustment Escrow Funds” means the funds in the Adjustment Escrow Account at any applicable time.

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with, such specified Person through one or more intermediaries or otherwise. For the purposes of this definition, “control” means, where used with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by Contract or otherwise, and the terms “controlling”, “controlled by”, and “under common control” have correlative meanings.

“Agreement” has the meaning provided such term in the preamble to this Agreement.

“Assignment and Assumption Agreements” means, collectively, the Assignment and Assumption Agreement to be executed by each Seller and Buyer at the Closing, substantially in the form attached hereto as Exhibit A.

“Audit Fees” has the meaning provided such term in Section 2.3(f).

“Audit Firm” means Ernst & Young or, if Ernst & Young does not accept the engagement as the Audit Firm, a national accounting firm with no prior material relationship with Buyer, Sellers or their respective Affiliates that is mutually agreed upon by Buyer and Sellers; provided, however, that if Buyer and Sellers cannot agree on the Audit Firm within five (5) days following the decision to engage an Audit Firm, the Audit Firm will be appointed by the Houston, Texas office of the American Arbitration Association.

“Base Purchase Price” has the meaning provided such term in Section 2.2(a)(i).

“Business” means the business conducted by the Acquired Companies as of the Execution Date and as of the Closing Date, including the joint ownership of the Central Penn Line with the Operator and the owning and leasing to the Operator of the Pipeline Interests, in each case in accordance with the Disclosed Contracts.

“Business Day” means any day that is not (a) a Saturday or Sunday, (b) a day on which commercial banks in the city of New York, New York or Houston, Texas, are required or authorized by Law to remain closed or (c) a day which is otherwise a federal holiday in the United States.

“Buyer” has the meaning provided such term in the preamble to this Agreement.

“Buyer Fundamental Representations” means the representations and warranties of Buyer in Section 5.1 (“Organization”), Section 5.2 (“Authorization; Enforceability”) and Section 5.3(a) (“No Conflict”).

“Buyer Indemnified Parties” has the meaning provided such term in Section 9.2(a).

“Buyer Parent” means NextEra Energy Partners, LP, a Delaware limited partnership.

“C&O Agreements” means (a) the Main Facilities C&O Agreement and (b) the Expansion C&O Agreement.

“Capital Contributions” has the meaning provided such term in the Company LLC Agreement.

“Cash Purchase Price” has the meaning provided such term in Section 2.2(d)(iv).

“Central Penn Line” has the meaning provided such term in the Main Facilities C&O Agreement.

“Claim Notice” has the meaning provided such term in Section 9.3(a).

“Closing” has the meaning provided such term in Section 2.4(a).

“Closing Date” has the meaning provided such term in Section 2.4(a).

“Closing Indebtedness” means the aggregate amount of all outstanding Indebtedness of the Acquired Companies, if any, excluding all EIF Meade Indebtedness as of the Closing Date.

“Closing Transfer Tax Amount” has the meaning provided such term in Section 7.3(b).

“Code” means the Internal Revenue Code of 1986.

“COG” has the meaning provided such term in the preamble to this Agreement.

“COG Acquired Interests” has the meaning provided such term in the recitals of this Agreement.

“Commercially Reasonable Efforts” means efforts which are designated to enable a Person to satisfy a condition to or otherwise assist in the consummation of a desired result and which do not require the performing Person to expend funds or assume any liability or obligation other than expenditures, liabilities or obligations which are customary and reasonable in nature and amount in the context hereof.

“Company” has the meaning provided such term in the recitals of this Agreement.

“Company Financial Statements” has the meaning provided such term in Section 4.4(a).

“Company LLC Agreement” means the Limited Liability Company Agreement of Meade Pipeline Co LLC by and among WGLM, COG, Vega Midstream, River Road and VED I, dated

as of February 14, 2014, as amended by Amendment No. 1 to the Limited Liability Company Agreement of Meade Pipeline Co LLC, dated December 27, 2018.

“Company Net Working Capital” means, with respect to the Company, as of the Measurement Time, all current assets of the Company minus all current liabilities of the Company, in each case as determined in accordance with GAAP; provided, that (a) current assets shall exclude all cash, Monthly Lease Charges under the Lease Agreements and all prepaid Taxes, and (b) current liabilities shall exclude all liabilities relating to any Indebtedness, the payment of the Operator Settlement Amount, Welded Claims, Other Contractor Claims, Taxes (including Transfer Taxes) and outstanding capital calls pursuant to the C&O Agreements that, if funded by Capital Contributions during the Interim Period, would have resulted in an adjustment to the Purchase Price pursuant to Section 2.2(a) (other than Section 2.2(a)(v)). An illustrative example of the Company Net Working Capital as of August 31, 2019 is set forth on Annex 5; provided, however, that for the avoidance of doubt, in the event of a contradiction or inconsistency between this definition and the illustrative example, this definition shall control.

“Company Working Capital Deficit” means the amount, if any, by which the Company Net Working Capital is less than the Target Working Capital.

“Company Working Capital Surplus” means the amount, if any, by which the Company Net Working Capital is greater than the Target Working Capital.

“Confidential Information” has the meaning provided such term in Section 6.3(b).

“Confidentiality Agreement” means that certain Confidentiality and Nondisclosure Agreement dated as of April 19, 2019 by and between the Company and Buyer Parent.

“Contract” means any legally binding agreement, commitment, lease, license or contract, whether written or oral.

“Controlled Group” means any trade or business (whether or not incorporated) (a) under common control within the meaning of Section 4001(b)(1) of ERISA with any Seller or any Acquired Company or (b) which together with any Seller or any Acquired Company is treated as a single employer under Section 414 of the Code.

“Controlled Group Liabilities” means any and all liabilities of the Controlled Group (a) under Title IV of ERISA, (b) under Sections 206(g), 302 or 303 ‎of ERISA, (c) under Sections 412, 430, 431, 436 or 4971 of the Code, (d) as a result of any ‎failure to comply with the continuation of coverage requirements of Section 601 et seq. of ‎ERISA and Section 4980B of the Code, and (e) under corresponding or similar provisions of any ‎foreign Laws. ‎

“Covered Persons” has the meaning provided such term in Section 6.5(a).

“CPL-Leidy South Facilities” has the meaning provided such term in the Expansion C&O Agreement.

“Debt Financing” means the debt financing to be obtained by Buyer for the purposes of financing the transactions contemplated hereby, including the payment of all or any portion of the Purchase Price.

“Department” has the meaning provided such term in Section 7.3(d).

“Designated Person” has the meaning provided such term in Section 11.13.

“Disclosed Contracts” has the meaning provided such term in Section 4.9(a).

“Disclosure Schedules” means the disclosure schedules attached hereto (a) containing disclosures of Sellers’ representations or warranties (or qualifications or exceptions thereto) set forth in Article III and Article IV and Sellers’ covenants set forth in Article VI and (b) containing disclosures of Buyer or qualifications or exceptions to any of Buyer’s representations and warranties set forth in Article V.

“Dollars” and “$” mean the lawful currency of the United States.

“DS Update” has the meaning provided such term in Section 6.6.

“EIF” has the meaning provided such term in the preamble to this Agreement.

“EIF Acquired Interests” has the meaning provided such term in the recitals of this Agreement.

“EIF Meade” has the meaning provided such term in the recitals of this Agreement.

“EIF Meade Credit Facility” means all obligations of EIF Meade and its Affiliates pursuant to that certain Credit Agreement, dated as of December 18, 2017, among EIF Meade (as borrower), Bank of Montreal (as administrative agent), the lenders party thereto, BMO Capital Markets Corporation (as sole bookrunner and lead arranger) and Kookmin Bank Co., LTD and Shinhan Bank (as coordinating lead arrangers), and any security documents delivered in connection therewith.

“EIF Meade Financial Statements” has the meaning provided such term in Section 4.4(b).

“EIF Meade Indebtedness” means all Indebtedness under the EIF Meade Credit Facility.

“EIF Meade Net Working Capital” means, with respect to EIF Meade, as of the Measurement Time, all current assets of EIF Meade minus all current liabilities of EIF Meade, in each case as determined in accordance with GAAP; provided, that (a) current assets shall include cash and shall exclude all prepaid Taxes, and (b) current liabilities shall exclude all liabilities relating to any Indebtedness (including the EIF Meade Indebtedness), Welded Claims, Other Contractor Claims, Taxes (including Transfer Taxes) and outstanding capital calls pursuant to the C&O Agreements. An illustrative example of EIF Meade Net Working Capital as of July 31, 2019 is set forth on Annex 6; provided, however, that for the avoidance of doubt, in the event of

a contradiction or inconsistency between this definition and the illustrative example, this definition shall control.

“EIF Meade Working Capital Deficit” means the amount, if any, by which the EIF Meade Net Working Capital is less than the Target Working Capital.

“EIF Meade Working Capital Surplus” means the amount, if any, by which the EIF Meade Net Working Capital is greater than the Target Working Capital.

“EIF Vega” has the meaning provided such term in the recitals of this Agreement.

“EIF Vega Financial Statements” has the meaning provided such term in Section 4.4(c).

“EIF Vega Net Working Capital” means, with respect to EIF Vega and its consolidated subsidiaries, as of the Measurement Time, all current assets of EIF Vega and its consolidated subsidiaries minus all current liabilities of EIF Vega and its consolidated subsidiaries, in each case as determined in accordance with GAAP; provided, that (a) current assets shall include cash and shall exclude all prepaid Taxes, and (b) current liabilities shall exclude all liabilities relating to any Indebtedness, Welded Claims, Other Contractor Claims, Taxes (including Transfer Taxes) and outstanding capital calls pursuant to the C&O Agreements. An illustrative example of EIF Vega Net Working Capital as of July 31, 2019 is set forth on Annex 7; provided, however, that for the avoidance of doubt, in the event of a contradiction or inconsistency between this definition and the illustrative example, this definition shall control.

“EIF Vega Working Capital Deficit” means the amount, if any, by which the EIF Vega Net Working Capital is less than the Target Working Capital.

“EIF Vega Working Capital Surplus” means the amount, if any, by which the EIF Vega Net Working Capital is greater than the Target Working Capital.

“Employee Benefit Plan” means the following: (a) any plan, fund or program which provides health, medical, surgical, hospital or dental care or other welfare benefits, or benefits in the event of sickness, accident or disability, or death benefits, apprenticeship or other training programs, or day care centers, scholarship funds, or prepaid legal services; (b) any plan, fund, or program which provides retirement income to employees or results in a deferral of income by employees for periods extending to the termination of covered employment or beyond; (c) any plan, fund or program which provides severance, unemployment, vacation or fringe benefits (including dependent and health care accounts); (d) any incentive compensation plan, deferred compensation plan, stock option or stock-based incentive or compensation plan, or stock purchase plan; or (e) any other “employee benefit plan” (as defined in Section 3(3) of ERISA, whether or not subject to ERISA), and any other written or oral plan, agreement or arrangement involving direct or indirect compensation including insurance coverage, severance benefits, disability benefits, fringe benefits, pension or retirement plans, profit sharing, deferred compensation, bonuses, stock options, stock purchase, phantom stock, stock appreciation or other forms of incentive compensation or post-retirement compensation.

“ERISA” means the Employee Retirement Income Security Act of 1974.

“Escrow Account” means the Adjustment Escrow Account, the Indemnity Escrow Account or the Transfer Tax Escrow Account, as applicable.

“Escrow Agent” means Citibank, N.A., a national banking association organized and existing under the laws of the United States of America.

“Escrow Agreement” means the Adjustment Escrow Agreement, the Indemnity Escrow Agreement or the Transfer Tax Escrow Agreement, as applicable.

“Escrow Funds” means the Adjustment Escrow Funds, the Indemnity Escrow Funds or the Transfer Tax Escrow Funds, as applicable.

“Estimated Closing Statement” has the meaning provided such term in Section 2.3(a).

“Estimated Purchase Price” has the meaning provided such term in Section 2.2(a).

“Execution Date” has the meaning provided such term in the preamble to this Agreement.

“Expansion C&O Agreement” means the CPL-Leidy South Facilities Construction and Ownership Agreement between the Operator and the Company, dated August 30, 2018.

“Expansion Facilities Adjustment Amount” means the aggregate amount of Capital Contributions made to the Company by the Members with respect to the CPL-Leidy South Facilities during the Interim Period.

“Filed PA Transfer Tax Returns” has the meaning provided such term in Section 7.3(b).

“Final Closing Statement” has the meaning provided such term in Section 2.3(c)

“Final Indemnity Escrow Release Date” has the meaning provided such term in Section 9.5(b)(i).

“Final Purchase Price” has the meaning provided such term in Section 2.3(c).

“Financial Statement Date” means (a) with respect to the Company, August 31, 2019 and (b) with respect to each of EIF Meade, EIF Vega, River Road and Vega Midstream, July 31, 2019.

“Financial Statements” means the EIF Meade Financial Statements, the EIF Vega Financial Statements and the Company Financial Statements, collectively.

“Financing Sources” means the agents, arrangers, lenders and other Persons that have committed to provide or arrange or otherwise entered into agreements in connection with all or any part of the Debt Financing or any other financing in connection with the transactions contemplated hereby, including the parties to any joinder agreements, indentures or credit agreements entered into in connection therewith, together with their respective Affiliates and their and their respective Affiliates’ Representatives and their respective successors and assigns.

“Fraud” means a false representation of a material fact by a Person, made with knowledge or belief of its falsity, with the intent of inducing another Person to act, or refrain from acting, to such other Person’s detriment, and upon which such other Person acted or did not act in justifiable reliance on the representation, with resulting Losses, and which shall expressly exclude any other claim of fraud that does not include the elements set forth in this definition.

“GAAP” means generally accepted accounting principles in the United States, consistently applied.

“Governmental Authority” means any federal, state, municipal, regional, local or similar governmental authority, regulatory or administrative agency, commission, court or arbitral body, in each case having governmental or quasi-governmental powers.

“HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

“Indebtedness” means, with respect to any Person at any date, without duplication, all (a) indebtedness of such Person for borrowed money and any accrued interest; (b) obligations of such Person for the deferred purchase price of property or services (other than trade payables incurred in the ordinary course of such Person’s business); (c) obligations of such Person evidenced by notes, bonds, debentures or other similar instruments; (d) indebtedness created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property); (e) capital lease obligations of such Person classified as indebtedness in accordance with GAAP; (f) obligations of such Person, contingent or otherwise, as an account party or applicant under acceptance, letter of credit or similar facilities; (g) all obligations under any interest rate swap agreements or interest rate hedge agreements to which such Person is a party; (h) any guaranty with respect of obligations of the kind referred to in clauses (a) through (g) above; (i) obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation; (j) obligations of the kind referred to in clauses (a) through (i) above owing to any Affiliate, excluding, if such Person is an Acquired Company, any other Acquired Company; and (k) all fees, expenses, premiums, penalties (including pre-payment penalties), breakage costs, change of control payments, redemption fees, or make-whole payments attributable to or arising under the terms of any obligation described in the preceding clauses (a) through (j); provided, however, that “Indebtedness” shall exclude all liabilities relating to the payment of the Operator Settlement Amount, Welded Claims, Other Contractor Claims, Taxes (including Transfer Taxes), ordinary liabilities to the extent taken into account in the calculations of Company Net Working Capital, EIF Meade Net Working Capital or EIF Vega Net Working Capital, as applicable, and outstanding capital calls pursuant to the C&O Agreements.

“Indemnified Party” has the meaning provided such term in Section 9.3(a).

“Indemnifying Party” has the meaning provided such term in Section 9.3(a).

“Indemnity Escrow Account” means the account maintained by the Escrow Agent pursuant to the Indemnity Escrow Agreement.

“Indemnity Escrow Agreement” means that certain Escrow Agreement (Indemnity), by and among Buyer, Sellers’ Representative and the Escrow Agent, in substantially the form attached hereto as Exhibit B-2.

“Indemnity Escrow Amount” means an amount equal to Thirty-Eight Million Four Hundred Thousand Dollars ($38,400,000) minus the aggregate amount of Capital Contributions made to the Company by the Members during the Interim Period to pay any Welded Claim or any Other Contractor Claim.

“Indemnity Escrow Funds” means the funds in the Indemnity Escrow Account at any applicable time.

“Initial Indemnity Escrow Release Date” has the meaning provided such term in Section 9.5(b)(i)(A).

“Intellectual Property” means any and all intellectual property rights in any jurisdiction throughout the world, including: (a) trademarks and service marks, including all applications and registrations and the goodwill connected with the use of and symbolized by the foregoing; (b) copyrights and works of authorship in any media (including computer programs, software, databases and compilations, files, applications, Internet site content, and documentation and related items), whether or not registered, including all applications and registrations related to the foregoing; (c) trade secrets and confidential know-how, including all source code, know-how, processes, technology, formulae, customer lists, inventions, and marketing information; (d) patents and patent applications; (e) internet domain name registrations; and (f) other intellectual property and related proprietary rights, interests and protections.

“Interim Period” means the period of time beginning on June 1, 2019 and ending on the Closing Date.

“Interim Period Distribution Amount” means the aggregate amount of any distributions made by the Company pursuant to Section 8.5 of the Company LLC Agreement during the Interim Period, excluding such distributions made on or about (a) June 3, 2019 with respect to the Monthly Lease Charge under the Main Facilities Lease attributable to the month of April 2019 and (b) July 1, 2019 with respect to the Monthly Lease Charge under the Main Facilities Lease attributable to the month of May 2019.

“Interim Tax Period” has the meaning provided such term in Section 7.1(c).

“IRS” means the U.S. Internal Revenue Service.

“Joint Direction” has the meaning provided such term in Section 2.5(b).

“Knowledge” means (a) with respect to any Seller, the actual knowledge of any individual set forth on Annex 1 under such Seller’s name and (b) with respect to Sellers collectively, the actual knowledge of any individual set forth on Annex 1, in each case, after due

and reasonable inquiry of the Persons immediately supervised and/or managed by each such identified Persons and, solely with respect to the representations and warranties made by each Seller under Section 4.5(b), Section 4.6 (to the extent relating to the Pipeline Interests or the Business), Section 4.12, Section 4.14, Section 4.16 and Section 4.19, the Operator, as applicable; provided, that with respect to such inquiries of the Operator, the Parties acknowledge and agree that the Operator has no obligation to respond to any such inquiry and that Sellers shall not be responsible or held liable for, and shall be deemed not to have “Knowledge” of, any information that the Operator fails or refuses to provide or for incomplete or inaccurate responses provided by the Operator.

“Law” means any applicable law, rule, regulation, ordinance, common law, binding requirement, rule of law, statute, treaty, constitution, code, order, judgment or decree of a Governmental Authority.

“Lease Agreements” means (a) the Main Facilities Lease and (b) the CPL-Leidy South Facilities Lease Agreement by and between the Operator and the Company, dated as of August 30, 2018.

“Lien(s)” means any charges, liens, pledges, options, encumbrances, mortgages, deeds of trust or other property interest, hypothecations, security interests, defects in title, deficiencies in ownership or title or adverse claims.

“Litigation” means any investigation or inquiry (in each case, with respect to which written notice has been provided), action, claim, suit or proceeding, in each case, by or before any Governmental Authority.

“Losses” means all liabilities (including STRICT LIABILITY), losses, damages, fines, penalties, judgments, settlements, awards, costs and expenses (including reasonable fees and expenses of counsel, accountants and other experts, court or arbitration fees, and other costs and expenses of investigation or defense).

“Main Facilities” means the Central Penn Line, excluding the CPL-Leidy South Facilities.

“Main Facilities Adjustment Amount” means the aggregate amount of Capital Contributions made to the Company by the Members with respect to the Main Facilities during the Interim Period (excluding any such Capital Contributions that are made to pay any Welded Claim or any Other Contractor Claim) to the extent (if any) by which such aggregate Capital Contributions exceed Five Million Seven Hundred Eleven Thousand Nine Hundred Six Dollars ($5,711,906); provided, that the Main Facilities Adjustment Amount shall not exceed Ten Million Three Hundred Four Thousand Three Hundred Ninety-Five Dollars ($10,304,395).

“Main Facilities C&O Agreement” means the Construction and Ownership Agreement between the Operator and the Company, dated February 14, 2014.

“Main Facilities Capex Adjustment Amount” means an amount, which may be positive or negative, equal to Six Million Two Hundred Sixty Thousand Seven Hundred Twelve Dollars ($6,260,712) minus the aggregate amount of Capital Contributions made to the Company

by the Members with respect to the Main Facilities during the Interim Period (excluding any such Capital Contributions that are made to pay any Welded Claim or any Other Contractor Claim), to the extent (if any) by which such aggregate Capital Contributions exceed Sixteen Million Sixteen Thousand Three Hundred One Dollars ($16,016,301). An illustrative example of the Main Facilities Capex Adjustment Amount as of August 31, 2019 is set forth on Annex 8; provided, however, that for the avoidance of doubt, in the event of a contradiction or inconsistency between this definition and the illustrative example, this definition shall control.

“Main Facilities Lease” means the Lease Agreement by and between the Operator and the Company, dated as of February 14, 2014.

“Material Adverse Effect” means (a) with respect to the Acquired Companies, any change, event, occurrence or development that has, or would reasonably be expected to have, a material adverse effect on the business, assets, liabilities, financial condition or results of operations of the Acquired Companies, the Pipeline Interests or the Business, taken as a whole (whether or not foreseeable or covered by insurance); provided, however, that “Material Adverse Effect” shall exclude any adverse effect resulting or arising from: (i) any change generally affecting the international, national or regional industries or markets in which the Acquired Companies operate or conduct business (including interest rate fluctuations and changes in commodity prices); (ii) any change in national or international regulatory or political conditions, including any engagement in or escalation of hostilities, whether or not pursuant to the declaration of a national emergency or war, armed hostilities, sabotage and the occurrence of any military or terrorist attack or changes or additional security measures imposed by a Governmental Authority in connection therewith; (iii) acts of God (including hurricanes, earthquakes or similar catastrophes); (iv) changes in industry standards, Laws, regulatory policies or GAAP (including interpretations of any of the foregoing); (v) the entry into or announcement of this Agreement, or the consummation of the transactions contemplated hereby; (vi) except to the extent caused by any event, change or other circumstance or condition otherwise constituting a “Material Adverse Effect”, any failure by the Acquired Companies to meet any projections or forecasts for any period occurring on or after the Execution Date; (vii) (A) any action taken by Buyer or any of its Affiliates or (B) the omission of an action that was expressly required to be taken by Buyer or any of its Affiliates under this Agreement; (viii) any action taken by Sellers, the Acquired Companies or their respective Affiliates at the written request or with the written consent of Buyer or any of its Affiliates or that is permitted to be taken pursuant to this Agreement or necessary to consummate the transactions contemplated hereby and (ix) any Welded Claims or Other Contractor Claims, except, in the case of clauses (i) through (iv), to the extent that any such change, event, occurrence, or development has a disproportionate effect on the business, assets, liabilities, financial condition or results of operations of the Acquired Companies, the Pipeline Interests or the Business taken as a whole, relative to similarly situated industry participants; and (b) with respect to one or more Seller, as applicable, any change, event, occurrence, or development that would reasonably be expected to prevent, materially impede or materially delay the ability of such Seller or Sellers to timely consummate the transactions contemplated by this Agreement.

“Material Permits” has the meaning provided such term in Section 4.10(b).

“Maximum Transfer Taxes Legal Fees Amount” means the maximum amount of fees and expenses that Buyer is obligated to pay in connection with the PA Transfer Tax Opinion and the Realty Transfer Tax Ruling, which amount is Three Hundred Fifty Thousand Dollars ($350,000) in the aggregate.

“Measurement Time” means 12:01 a.m. Central Time on the Closing Date.

“Member” has the meaning provided such term in the Company LLC Agreement.

“Member ROFO Waiver” has the meaning provided such term in the recitals of this Agreement.

“Monthly Lease Charge” has the meaning provided such term in applicable Lease Agreement.

“Non-Reimbursable Damages” means, in respect of a Party, punitive, exemplary, indirect damages or other damages that would not be recoverable as damages under common law principles (which shall include lost profits and lost benefits, loss of enterprise, diminution in value of the Business, damages to reputation and loss to goodwill, in each case, to the extent such damages are not a proximate and reasonably foreseeable result of the acts or omissions giving rise to the applicable claim for such damages), in each case, whether based on contract, tort, strict liability, other Law or otherwise and whether or not arising from the other Party’s or its Affiliate’s, or any of their respective officer’s, director’s, employee’s or representative’s sole, joint or concurrent negligence, strict liability or other fault, but excluding (a) any such damages incurred or payable under or in respect of any Third-Party Claim for which any Party is obligated to indemnify another Person under this Agreement and (b) any such damages arising from or out of Fraud.

“O&M Agreement” means the Operation and Maintenance Agreement by and between the Operator and the Company, dated February 14, 2014, as amended by the First Amendment to Operation and Maintenance Agreement, dated August 30, 2018.

“Operator” means Transcontinental Gas Pipe Line Company, LLC, a Delaware limited liability company.

“Operator Settlement Agreement” means that certain Waiver, Release and Settlement Agreement, dated as of September 29, 2019, by and among the Operator, Sellers, Buyer, the Acquired Companies and the other parties listed on the signature pages attached thereto.

“Operator Settlement Amount” means the amount required to be paid pursuant to Section 2.3 of the Operator Settlement Agreement.

“Order” means any binding order, writ, judgment, injunction, decree, stipulation, determination or award issued, made, rendered or entered by or with any Governmental Authority.

“Organizational Documents” means any charter, certificate of incorporation, certificate of formation, articles of association, bylaws, operating agreement, partnership agreement, limited liability company agreement or similar formation or governing documents and instruments.

“Other Contractor Claims” has the meaning provided such term in Section 9.2(a)(iii)(B).

“Outside Date” has the meaning provided such term in Section 10.1(f).

“PA Taxes” has the meaning provided such term in Section 7.3(a).

“PA Transfer Tax Return” means a Transfer Tax Return for PA Taxes.

“PA Transfer Taxes Maximum Tax Amount” means Twenty-Five Million Six Hundred Thousand Dollars ($25,600,000).

“PA Transfer Tax Opinion” has the meaning provided such term in Section 8.2(f).

“Party” or “Parties” means, individually, any Seller (including Sellers’ Representative) or Buyer, and, collectively, Sellers (including Sellers’ Representative) and Buyer.

“Payoff Documentation” has the meaning provided such term in Section 2.4(b)(viii).

“Pending Non-Welded Claims” has the meaning provided such term in Section 9.5(b)(i)(A).

“Pending Transfer Tax Claims” has the meaning provided such term in Section 9.5(b)(ii).

“Permits” means all permits, licenses, certificates, approvals, consents, or other similar authorizations required by any Law and granted by any Governmental Authority.

“Permitted Distributions” has the meaning provided such term in Section 6.1(c).

“Permitted Liens” means (a) Liens for current Taxes, impositions, assessments, fees, rents or other charges levied or assessed or imposed by a Governmental Authority (i) not yet due and payable as of the Closing Date or (ii) being contested in good faith by appropriate proceedings, and in either case, for which adequate reserves have been established on the Financial Statements, (b) statutory Liens (including materialmen’s, warehousemen’s, mechanic’s, repairmen’s, landlord’s and other similar Liens) (i) arising in the ordinary course of business securing payments (A) not yet due and payable or (B) being contested in good faith by appropriate proceedings, and in either case, for which adequate reserves have been established on the Financial Statements or (ii) arising pursuant to any Welded Claim or Other Contractor Claim; (c) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation; (d) purchase-money Liens arising in the ordinary course of business; (e) Liens consisting of (i) statutory landlord’s Liens under leases to which any Acquired Company is a party and which have been provided to Buyer or other Liens on leased property reserved in leases thereof for rent or for compliance with the terms of such leases, (ii) rights reserved to or vested in, any Governmental Authority to control or regulate any property of any Acquired

Company, or to limit the use of such property in any manner which does not materially impair or detract from the use, occupancy, value or marketability of title of the real property subject thereto, including the use of such property for the purposes for which it is held by such Acquired Company or (iii) obligations or duties to any Governmental Authority with respect to any franchise, grant, license, lease or permit and the rights reserved or vested in any Governmental Authority to terminate any such franchise, grant, license, lease or permit or to condemn or expropriate any property; (f) pledges or deposits under workers’ compensation legislation, unemployment insurance Laws or similar Laws; (g) Liens set forth in Annex 2; or (h) Liens created by, through or under Buyer or its successors or assigns.

“Person” means any individual, firm, corporation, partnership (including any general partnership or limited partnership), limited liability company, incorporated or unincorporated association, joint venture, joint stock company, Governmental Authority or other entity of any kind.

“Pipeline Interests” means the rights set forth in Annex 3.

“Pre-Closing Tax Period” has the meaning provided such term in Section 7.1(a).

“Privileged Information” has the meaning provided such term in Section 11.13.

“Proposed Closing Statement” has the meaning provided such term in Section 2.3(b).

“Purchase Price” has the meaning provided such term in Section 2.2(a).

“Purchase Price Adjustments” has the meaning provided such term in Section 2.2(b).

“R&W Base Insurance Policy” means that certain Buyer-Side Representations and Warranties Insurance Policy to be issued by Euclid Transactional, LLC, as duly authorized agent of the “Insurers” as listed in the Base R&W Insurance Policy, Master Policy Number ET111-001-480.

“R&W Conditional Binder” means, collectively, those certain conditional binders from the applicable R&W Insurer with respect to each R&W Insurance Policy attached hereto as Exhibit D.

“R&W Insurance Policy” means, collectively, (a) the R&W Base Insurance Policy, (b) that certain Third Excess Buyer-Side Representations and Warranties Insurance Policy to be issued by Houston Casualty Company, Policy Number F19L3110A001, (c) that certain Buyer-Side Representations and Warranties Excess Insurance Policy to be issued by Illinois Union Insurance Company, Policy Number TNX G46882878 001, (d) that certain Excess Buyer-Side Representations and Warranties Insurance Policy to be issued by Gemini Insurance Company, Excess Policy Number 8044573, and (e) that certain Excess Buyer-Side Representations and Warranties Insurance Policy to be issued by Euclid Transactional, LLC, as duly authorized agent of the “Insurers” named therein, Master Policy Number ETIII-001-481, each attached hereto as an exhibit to the applicable R&W Conditional Binder.

“R&W Insurer” means each of Euclid Transactional, LLC, as duly authorized agent of the “Insurers” as listed in the R&W Base Insurance Policy, Houston Casualty Company, Illinois Union Insurance Company, and Gemini Insurance Company, as applicable.

“Real Property Rights” has the meaning provided such terms in the C&O Agreements, as applicable.

“Realty Transfer Tax Ruling” has the meaning provided such term in Section 7.3(d).

“Records” means all Contracts, land, title, engineering, environmental, regulatory, operating, accounting, business, marketing and other data files, documents, instruments, notes, papers, ledgers, journals, reports, abstracts, surveys, title opinions, maps, drawings, books, records and studies (in each case) that relate to the ownership, operation or maintenance of the Pipeline Interests, the Business or the Acquired Companies, in each case, in the possession or control at the applicable time of a Seller or its Affiliates (including any applicable Acquired Company of such Seller) or to which such Seller or its Affiliates has access, including pursuant to the C&O Agreements and the O&M Agreement. “Records” shall not include the following (which shall be retained by Sellers): (a) documents subject to legal privilege (such as the attorney-client privilege or work product doctrine); (b) Sellers’ general corporate books, records and files, even if containing references to the Business or Acquired Companies; and (c) records relating solely to the sale of the Acquired Companies.

“Reinvested Proceeds” has the meaning provided such term in Section 2.2(c).

“Related Party” means, with respect to any Seller, any member, director, manager, officer, consultant or employee of such Seller or of the applicable Acquired Companies of such Seller, or any Affiliate of such Seller or any of the foregoing.

“Representatives” means, as to any Person, its officers, directors, managers, stockholders, members, partners, employees, counsel, accountants, financial advisors, consultants and other representatives and advisors of such Person and such Person’s Affiliates.

“Review Period” has the meaning provided such term in Section 2.3(c).

“River Road” has the meaning provided such term in the recitals of this Agreement.

“Securities Act” means the Securities Act of 1933.

“Seller” or “Sellers” has the meaning provided such term in the preamble to this Agreement.

“Seller Approvals” has the meaning provided such term in Section 3.3.

“Seller Fundamental Representations” means the representations and warranties of Sellers in Section 3.1 (“Organization”), Section 3.2 (“Authorization; Enforceability”), Section 3.3(a) and (d) (“No Conflict”), Section 3.5 (“Broker’s Fees”), Section 3.6 (“Ownership of Acquired Interests”), Section 4.1 (“Organization”), Section 4.2(a) (“No Conflict”), Section 4.3 (“Capitalization; Subsidiaries”), and Section 4.5(a) (“Ownership of Property”).

“Seller Indemnified Parties” has the meaning provided such term in Section 9.2(b).

“Seller Names and Marks” has the meaning provided such term in Section 6.8(a).

“Seller’s Share” has the meaning provided such term in Section 2.2(b).

“Sellers’ Representative” has the meaning set forth in Section 11.15(a).

“Straddle Period” has the meaning provided such term in Section 7.1(b).

“Target Working Capital” means Zero Dollars ($0).

“Tax” or “Taxes” means all taxes, assessments, charges, duties, levies, imposts or other similar charges in the nature of a tax, including any interest, penalties, or addition thereto incurred under applicable Laws with respect ‎thereto‎, including any liability for the payment of any amount of a type arising as a result of being or having been a member of any affiliated, consolidated, combined, unitary, or other group for tax purposes or being or having been included or required to be included in any Tax Return related thereto, imposed by a Tax Authority, including all income, franchise, profits, capital gains, capital stock, transfer, gross income, margin, gross receipts, sales, use, transfer, service, goods and services, occupation, ad valorem, property, excise, severance, windfall profits, stamp, premium, alternative or add-on, license, withholding, payroll, employment, estimated, social security, unemployment, registration, disability, environmental (including taxes under Code section 59A), and value-added taxes, whether disputed or not.

“Tax Authority” means any Governmental Authority having jurisdiction over the assessment, determination, collection or imposition of any Tax.

“Tax Benefit” has the meaning provided such term in Section 9.4(c).

“Tax Proceeding” has the meaning provided such term in Section 7.2.

“Tax Returns” means any report, return, estimated tax filing, declaration or other filing provided to any Tax Authority, including any amendments thereto.

“Third Party” means any Person other than (a) an Acquired Company, (b) any Party, or (c) any Affiliate of an Acquired Company or of any Party.

“Third-Party Claim” has the meaning provided such term in Section 9.3(a).

“Title Company” means Land Services USA, Inc.

“Transaction Document” means this Agreement, each Escrow Agreement, each Assignment and Assumption Agreement, and all other documents or certificates delivered or required to be delivered pursuant to this Agreement.

“Transco ROFO” has the meaning set forth in Section 4.9(c).

“Transfer Documents” has the meaning provided such term in the Operator Settlement Agreement.

“Transfer Documents Escrow Agreement” means that certain escrow instruction letter from the Company and Buyer to Morgan, Lewis & Bockius LLP, dated September 29, 2019, delivered in connection with the Operator’s delivery of the Transfer Documents under (and as defined in) the Operator Settlement Agreement.

“Transfer Tax Escrow Account” means the account maintained by the Escrow Agent pursuant to the Transfer Tax Escrow Agreement.

“Transfer Tax Escrow Agreement” means that certain Escrow Agreement (Transfer Tax), by and among Buyer, Sellers’ Representative and the Escrow Agent, in substantially the form attached hereto as Exhibit B-3.

“Transfer Tax Escrow Amount” means an amount equal to (a) Twenty-Five Million Six Hundred Thousand Dollars ($25,600,000) minus (b) the Closing Transfer Tax Amount.

“Transfer Tax Escrow Funds” means the funds in the Transfer Tax Escrow Account at any applicable time.

“Transfer Tax Escrow Release Date” has the meaning provided such term in Section 9.5(b)(ii).

“Transfer Tax Returns” has the meaning provided such term in Section 7.3(a).

“Transfer Taxes” has the meaning provided such term in Section 7.3(a).

“Transfer Tax Valuation” has the meaning provided such term in Section 7.3(g).

“Transfer Tax Valuation Firm” has the meaning provided such term in Section 7.3(g).

“Treasury Regulation” means the regulations promulgated by the United States Department of the Treasury pursuant to and in respect of provision of the Code. All references herein to sections of the Treasury Regulations shall include any corresponding provision or provisions of succeeding, similar, substitute, temporary or final Treasury Regulations.

“United States” or “U.S.” means the United States of America.

“Unpaid Settled Welded Claims” has the meaning provided such term in Section 9.5(b)(i)(C).

“VED I” has the meaning provided such term in the preamble to this Agreement.

“VED I Acquired Interests” has the meaning provided such term in the recitals of this Agreement.

“VED II” has the meaning provided such term in the preamble to this Agreement.

“VED II Acquired Interests” has the meaning provided such term in the recitals of this Agreement.

“Vega Midstream” has the meaning provided such term in the recitals of this Agreement.

“Welded Claims” has the meaning provided such term in Section 9.2(a)(iii)(A).

“Welded Indemnity Escrow Amount” means, at the time of determination in accordance with Section 9.5(b)(i)(A), an amount equal to the lowest of the following: (a) Twenty-One Million Dollars ($21,000,000) minus the aggregate amount of Capital Contributions made to the Company by the Members during the Interim Period to pay any Welded Claim to the extent that such Capital Contributions do not result in an adjustment to the Purchase Price in accordance with Section 2.2(a), (b) the reasonably estimated amount of the Company’s exposure for Welded Claims that have not been resolved and paid and (c) the remaining amount of Indemnity Escrow Funds.

“WGLM” has the meaning provided such term in the preamble to this Agreement.

“WGLM Acquired Interests” has the meaning provided such term in the recitals of this Agreement.


1.2	Rules of Construction.

(a)

All article, section, schedule, annex and exhibit references used in this Agreement are to articles, sections, schedules, annexes and exhibits of or to this Agreement unless otherwise specified. The schedules, annexes and exhibits attached to this Agreement constitute a part of this Agreement and are incorporated herein for all purposes. All references to “schedules” or “Schedules” herein shall be deemed to be references to the Disclosure Schedules (or portion thereof, if applicable) unless otherwise specified. References to Contracts, including this Agreement, shall be deemed to include all subsequent permitted amendments, restatements, supplements, extensions and other modifications to such Contracts.

(b)

If a term is defined as one part of speech (such as a noun), it shall have a corresponding meaning when used as another part of speech (such as a verb). Terms defined in the singular have the corresponding meanings in the plural, and vice versa. Unless the context of this Agreement clearly requires otherwise, words importing the masculine gender shall include the feminine and neutral genders and vice versa. The term “includes” or “including” shall mean “including without limitation”. The words “hereof”, “hereto”, “hereby”, “herein”, “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular section or article in which such words appear. The word “or” shall not be exclusive.


(c)	References herein to any statutes shall include all regulations promulgated thereunder, and references herein to statutes or regulations shall be construed as including all statutory and regulatory provisions consolidating, amending,

reenacting or replacing such statutes or regulations and all statutory instruments issued under or pursuant to such statutes or regulations.

(d)

The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the drafting Party or the Party causing any instrument to be drafted, and no burden of proof will arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement.


(e)	The captions and headings in this Agreement are for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement.


(f)	All references to currency herein shall be to, and all payments required hereunder shall be paid in, Dollars.


(g)	All accounting terms used herein and not expressly defined herein shall have the meanings given to them under GAAP.

(h)

Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified. Any event hereunder requiring any action of a Party, including the payment of cash or cash equivalents, on a day that is not a Business Day shall be deferred until the next Business Day. Time periods within or following which any payment is to be made or act is to be done will be calculated by excluding the day on which the time period commences and including the day on which the time period ends and by extending the period to the next Business Day following if the last day of the time period is not a Business Day.


(i)	Unless otherwise specified, all references to a specific time of day in this Agreement will be based upon Central Standard Time or Central Daylight Savings Time, as applicable, on the date in question in Houston, Texas.


(j)	A reference to a writing includes a facsimile or email transmission of it and any means of reproducing of its words in a tangible and permanently visible form.


(k)	A reference to any party to this Agreement or another Contract includes such party’s permitted successors and assigns.

(l)

Whenever this Agreement refers to an “applicable Seller” or the “applicable Sellers”, (i) all Sellers shall be considered “applicable Sellers” for any matters to the extent related to the Company, the Pipeline Interests, the Central Penn Line or the Business, (ii) EIF shall be the sole “applicable Seller” for all matters to the extent related to EIF Meade, and (iii) EIF and VED II shall be the sole “applicable Sellers” for all matters to the extent related to any other Acquired Company not addressed in clauses (i) and (ii).

(m)

Whenever this Agreement refers to an “applicable Acquired Company” or the “applicable Acquired Companies” of a Seller or Sellers, (i) all Acquired Companies shall be considered “applicable Acquired Companies” of EIF, (ii) EIF Vega, River Road and Vega Midstream shall be considered “applicable Acquired Companies” of VED II, and (iii) the Company shall be considered an “applicable Acquired Company” of all Sellers.

(n)

The phrase “made available” or “have provided” or similar phrases as used in the representations and warranties of Sellers with respect to a particular document (except with respect to the Transfer Documents Escrow Agreement, the Operator Settlement Agreement and the Member ROFO Waiver) means that Buyer, its Affiliates and its Representatives have had, for at least two (2) Business Days prior to the date on which the applicable representation or warranty is made, reasonably continuous access to such document in the electronic data room established by Sellers or their Representatives in connection with the transactions contemplated hereby to a true, correct and complete copy of any such document.


(o)	With respect to Sellers or the Acquired Companies, the term “ordinary course of business” will be deemed to refer to the ordinary conduct of the Acquired Companies’ business in a manner consistent with the past practices and customs of Sellers or the Acquired Companies, as applicable.

ARTICLE II.

PURCHASE AND SALE; PURCHASE PRICE; CLOSING


2.1	Purchase and Sale of Acquired Interests.

At the Closing, upon the terms and subject to the conditions set forth in this Agreement, Buyer agrees to purchase, accept and acquire from each Seller, and each Seller agrees to sell, assign, transfer and convey to Buyer, the Acquired Interests owned by such Seller, in each case, free and clear of all Liens (other than (a) restrictions on transfer that may be imposed by state or federal securities Laws, (b) restrictions on transfer that are expressly set forth in the Organizational Documents of the Acquired Companies, (c) restrictions listed on Schedule 2.1 and (d) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation).


2.2	Purchase Price.


(a)	The aggregate consideration payable by Buyer hereunder shall equal the sum of the following (the “Purchase Price”), which shall be paid pursuant to, and subject to adjustment in accordance with, this Section 2.2 and Section 2.3:


(i)	One Billion Two Hundred Eighty Million Dollars ($1,280,000,000) (the “Base Purchase Price”),


(ii)	plus the Expansion Facilities Adjustment Amount,


(iii)	plus the Main Facilities Adjustment Amount,


(iv)	minus the Interim Period Distribution Amount,


(v)	plus the Company Working Capital Surplus, if any, or minus the Company Working Capital Deficit, if any,


(vi)	plus the EIF Meade Working Capital Surplus, if any, or minus the EIF Meade Working Capital Deficit, if any,


(vii)	plus the EIF Vega Working Capital Surplus, if any, or minus the EIF Vega Working Capital Deficit, if any,


(viii)	minus the Main Facilities Capex Adjustment Amount if such amount is a positive number or plus the absolute value of the Main Facilities Capex Adjustment Amount if such amount is a negative number,


(ix)	minus any Closing Indebtedness to the extent not repaid at the Closing pursuant to Section 2.2(d)(i)(A);

provided, that the amount of the Purchase Price payable at the Closing shall be the Purchase Price as determined in accordance with the Estimated Closing Statement delivered pursuant to Section 2.3(a) (the “Estimated Purchase Price”).

(b)

The Base Purchase Price shall be allocated to each Seller in the applicable amounts set forth on Exhibit E, and each adjustment described in Section 2.2(a)(ii) through (ix) (the “Purchase Price Adjustments”) shall be allocated to, and shall affect the Purchase Price payable to, each Seller in the applicable percentages set forth on Exhibit E. The “Seller’s Share” with respect to each Seller shall mean such Seller’s applicable portion of the Base Purchase Price as affected by such Seller’s applicable percentage of each Purchase Price Adjustment, in each case, as determined in accordance with Exhibit E.

(c)

If, during the Interim Period, the Company receives cash proceeds of the Monthly Lease Charge under the Main Facilities Lease that are distributable to the Members and the Company applies all or any portion of such distributable proceeds to fund a capital call by the Operator under either C&O Agreement during such period rather than making a distribution thereof (any amount so applied, the “Reinvested Proceeds”), then such Reinvested Proceeds shall be treated as having been distributed to the Members for purposes of the adjustment addressed in Section 2.2(a)(iv) and contributed to the Company by the Members for purposes of the adjustment addressed in Section 2.2(a)(ii), to the extent the capital call was made under the Expansion C&O Agreement, or Section 2.2(a)(iii), to the extent the capital call was made under the Main Facilities C&O Agreement.


(d)	The Estimated Purchase Price shall be payable at the Closing as follows:


(i)	Buyer shall pay by wire transfer of immediately available funds, (A) from the Seller’s Share of each Seller with respect to which there is Closing

Indebtedness of an applicable Acquired Company, to the ‎holders of such Closing Indebtedness, the amounts set forth in the Payoff Documentation related to such Closing Indebtedness and (B) from EIF’s Seller’s Share, to the ‎holders of the EIF Meade Indebtedness, the amounts set forth in the Payoff Documentation related to the EIF Meade Indebtedness;


(ii)	Buyer shall pay by wire transfer of immediately available funds, from the Seller’s Share of each Seller, the Closing Transfer Tax Amount to the Title Company;


(iii)	Buyer shall deposit each of the Adjustment Escrow Amount, the Indemnity Escrow Amount and the Transfer Tax Escrow Amount in the applicable Escrow Account, which ‎amounts shall be held and disbursed by the Escrow Agent in accordance with and ‎subject to the terms and provisions of this Agreement and the applicable Escrow Agreement;‎ and

(iv)

Buyer shall pay to Sellers, pursuant to the procedures set forth in Section 2.4(c)(iii), an aggregate amount in cash ‎(the “Cash Purchase Price”) equal to (A) the Estimated Purchase Price, ‎minus (B) the sum of the payments and deposits made under Section 2.2(d)(i),(ii) and (iii), which Cash Purchase Price shall be paid to each Seller in accordance with its Seller’s Share determined in accordance with Exhibit E.


2.3	Post-Closing Adjustments.

(a)

Preparation of Estimated Closing Statement. Sellers’ Representative shall prepare in good faith and deliver to Buyer, at least five (5) Business Days prior to the anticipated Closing Date and at the sole expense of Sellers, a statement setting forth a detailed determination by Sellers in good faith of the Estimated Purchase Price, balance of cash on hand of the Acquired Companies, and the Cash Purchase Price, including a breakdown of each Seller’s Share thereof (the “Estimated Closing Statement”). Such Estimated Closing Statement shall include a reasonably detailed explanation and supporting detail of the calculations thereof. With respect to Sellers’ Representative’s estimate of the adjustments in Section 2.2(a)(v), (vi) and (vii), the Estimated Closing Statement shall be prepared in accordance with GAAP, Annex 5, Annex 6 and Annex 7, as applicable, and Exhibit G. If Buyer has any questions or disagreements regarding the Estimated Closing Statement, Buyer shall deliver written notice of any such questions or disagreements to Sellers’ Representative at least two (2) Business Days prior to the anticipated Closing Date, and in such case Sellers’ Representative and Buyer shall in good faith attempt to resolve any disagreements. If Buyer and Sellers’ Representative agree on changes to the Estimated Purchase Price and the Cash Purchase Price based on such discussions, then the Estimated Purchase Price and the Cash Purchase Price shall, for purposes of Section 2.2, be based on such changes. If Buyer and Sellers’ Representative do not agree on changes to the Estimated Purchase Price and the Cash Purchase Price, then the Estimated Purchase Price and the Cash Purchase Price shall, for

purposes of Section 2.2, be based on the amounts set forth in the Estimated Closing Statement delivered by Sellers’ Representative. In either such case, appropriate adjustments to the Estimated Purchase Price and the Cash Purchase Price shall be made after the Closing pursuant to this Section 2.3.

(b)

Preparation of Closing Statement. As soon as reasonably practicable after the Closing Date (and, in any event, within sixty (60) days after the Closing Date), Buyer shall prepare in good faith and deliver to Sellers’ Representative, at the sole expense of Buyer, a closing statement setting forth the proposed final calculation of the Purchase Price (the “Proposed Closing Statement”). With respect to Buyer’s calculation of the adjustments in Section 2.2(a)(v), (vi) and (vii), the Proposed Closing Statement shall be prepared in accordance with GAAP, Annex 5, Annex 6 and Annex 7, as applicable, and Exhibit G.

(c)

Examination of Proposed Closing Statement. Sellers’ Representative shall review the Proposed Closing Statement to confirm the accuracy of the Proposed Closing Statement and Buyer’s calculations therein. If Sellers’ Representative fails to give Buyer written notice of any disputed amounts within thirty (30) days after Sellers’ Representative receives the Proposed Closing Statement (the “Review Period”), then the Proposed Closing Statement shall become the Final Closing Statement for purposes hereof. If Sellers’ Representative gives Buyer written notice of any disputed item within the Review Period, Buyer and Sellers’ Representative shall attempt in good faith to agree on any adjustments that should be made to the Proposed Closing Statement. If Buyer and Sellers’ Representative fail to resolve any disputed amounts within fifteen (15) days after the end of the Review Period, Buyer and Sellers’ Representative will engage the Audit Firm to resolve any such disputed matters in accordance with the terms of this Agreement, and, in connection with such engagement, Buyer and Sellers’ Representative shall execute any engagement, indemnity or other agreements as the Audit Firm may require as a condition to such engagement. The Audit Firm’s engagement shall be limited to the resolution of disputed amounts set forth in the Proposed Closing Statement that have been identified by Sellers’ Representative, and no other matter relating to the Proposed Closing Statement shall be subject to determination by the Audit Firm except to the extent affected by resolution of the disputed amounts. In resolving any such disputed item, the Audit Firm may not assign a value to any item greater than the greatest value for such item claimed by a Party or lower than the lowest value for such item claimed by a Party. The Audit Firm may not award damages or penalties. Buyer and Sellers’ Representative shall cooperate diligently with any reasonable request of the Audit Firm in an effort to resolve any disputed matter as soon as reasonably possible after the Audit Firm is engaged, but neither such party will have ex parte meetings, teleconferences or other correspondence with the Audit Firm, as it is intended for each of Sellers’ Representative and Buyer to be included in all discussions and correspondence with the Audit Firm. If possible, the decision of the Audit Firm shall be made within thirty (30) days after being engaged, or as soon as possible thereafter. In any event, the final decision of the Audit Firm shall be final and binding on the Parties. The provisions in this Section 2.3(c) shall be the Parties’

sole and exclusive remedy with respect to any disputes in connection with determinations of the Final Purchase Price and the Final Closing Statement. The Proposed Closing Statement shall be revised, if necessary, to reflect the final determination of the Parties or the Audit Firm, as applicable (the final form of the Proposed Closing Statement, including any revisions that are made thereto pursuant to this Section 2.3(c), is referred to herein as the “Final Closing Statement”). The Purchase Price as calculated pursuant to the Final Closing Statement shall be referred to herein as the “Final Purchase Price.”


(d)	Adjustments.

(i)

If the Final Purchase Price is less than the Estimated Purchase Price, then Buyer and Sellers’ Representative shall promptly (but no later than five (5) Business Days after the determination of the Final Closing Statement) submit a Joint Direction to the Escrow Agent to release by wire transfer of immediately available funds from the Adjustment Escrow Account (A) to Buyer, the lesser of (1) the amount of such deficit and (2) the Adjustment Escrow Funds and (B) the remainder of the Adjustment Escrow Funds, if any, to Sellers; provided, however, to the extent such deficit is greater than the aggregate amount in the Adjustment Escrow Account, then, in addition to the disbursement of the Adjustment Escrow Funds to Buyer pursuant to this Section 2.3(d), Sellers will promptly pay to Buyer by wire transfer of immediately available funds an amount equal to such remaining deficit (but no later than five (5) Business Days after the determination of the Final Closing Statement).

(ii)

If the Final Purchase Price exceeds the Estimated Purchase Price, then Sellers’ Representative shall promptly deliver payment instructions to Buyer reflecting each Seller’s Share of such excess, and (A) Buyer shall promptly (but no later than five (5) Business Days after receipt of such instructions) tender payment of such excess to each Seller in accordance with such payment instructions, by wire transfer of immediately available funds to the accounts specified with respect to such Seller under the heading “Wire Instructions” on Exhibit F or to another account or accounts otherwise designated by Sellers’ Representative in such payment instructions, and (B) Buyer and Sellers’ Representative shall submit a Joint Direction to the Escrow Agent to release and pay to Sellers, by wire transfer of immediately available funds from the Adjustment Escrow Account, the aggregate amount of the Adjustment Escrow Funds.

(e)

No Duplicative Effect. The provisions of this Section 2.3 and of any other Transaction Document shall apply in such a manner so as not to give the components and calculations duplicative effect to any item of adjustment and, except as otherwise expressly provided in this Agreement, the Parties covenant and agree that no amount shall be (or is intended to be) included, in whole or in part (either as an increase or reduction) more than once in the calculation of the Purchase Price Adjustments, the Purchase Price, any component of any of the

foregoing or any other calculated amount pursuant to this Agreement if the effect of such additional inclusion (either as an increase or reduction) would be to cause such amount to be overstated or understated for purposes of such calculation. The Parties acknowledge and agree that, if there is a conflict between a determination, calculation or methodology set forth in Annex 5, Annex 6 or Annex 7, Exhibit G or the definitions contained in this Agreement, as applicable, on the one hand, and those provided by GAAP, on the other hand, (i) the determination, calculation or methodology set forth in Annex 5, Annex 6 or Annex 7, Exhibit G or the definitions contained in this Agreement, as applicable, shall control to the extent that the matter is included in Annex 5, Annex 6 or Annex 7, Exhibit G or the definitions contained in this Agreement as a line item or specific adjustment and (ii) the determination, calculation or methodology prescribed by this Agreement shall otherwise control.

(f)

Fees and Expenses of the Audit Firm. If the Parties submit any disputed amounts to the Audit Firm for resolution as provided in Section 2.3(c), the fees and expenses of the Audit Firm (the “Audit Fees”) will be borne one-half by Sellers and one-half by Buyer; provided, however, that (i) if the aggregate estimate by Buyer of the disputed amount or amounts differs by ten percent (10%) or more from the determination of the Audit Firm, then Buyer shall pay one hundred percent (100%) of the Audit Fees, and (ii) if the aggregate estimate by Sellers of the disputed amount or amounts differs by ten percent (10%) or more from the determination of the Audit Firm, then Sellers shall pay one hundred percent (100%) of the Audit Fees; provided, further, however, if the aggregate estimates by Buyer and Sellers of the disputed amount or amounts both differ by ten percent (10%) or more from the determination of the Audit Firm, then the Party whose estimate differs most greatly from the determination of the Audit Firm shall pay one hundred percent (100%) of the Audit Fees. Sellers and Buyer shall promptly, and in any event within five (5) Business Days after the final determination of the Final Closing Statement, pay to the Audit Firm the amount of Audit Fees payable by Sellers and Buyer pursuant to the preceding sentence. For the avoidance of doubt, all costs and expenses incurred by the Parties in connection with a dispute under Section 2.3(c), other than the Audit Fees, shall be borne by the Party incurring such cost or expense.

(g)

Tax Withholding. Buyer shall be entitled to deduct and withhold from any amounts otherwise payable pursuant ‎to this Agreement such amounts as it is required to ‎deduct and withhold with respect to the making of such payments under the Code, or ‎any provision of state, local, provincial or foreign Tax Law, and shall timely remit to the ‎appropriate Tax Authority any amounts so deducted or withheld. In the event that Buyer determines that it is required to withhold any amounts from amounts otherwise payable to any Seller pursuant to this Agreement, prior to withholding any such amounts Buyer shall (i) ‎give the applicable Sellers reasonable advanced ‎notice of its intention to make any ‎such deduction or ‎withholding, (ii) cooperate with the applicable Sellers to reduce or eliminate any such withholding, and (iii) consider, in good ‎faith, any objections of the applicable Sellers with respect to such proposed ‎deduction or withholding. To

the ‎extent that amounts are deducted or withheld from amounts payable by Buyer pursuant to this Agreement, such amounts shall be treated for all ‎purposes of this Agreement as having been paid to the Person entitled to receipt of the ‎payment in respect of which such deduction or withholding was made.‎ ‎ For the avoidance of doubt, this Section 2.3(g) shall not apply to Transfer Taxes, which are addressed in Section 7.3.


2.4	The Closing.

(a)

The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of Orrick, Herrington & Sutcliffe LLP, 609 Main Street, 40^th Floor, Houston, Texas 77002 or remotely via the exchange of documents and signatures by facsimile or electronic transmission, commencing at 10:00 a.m. Central Time on the third (3^rd) Business Day following the date on which the last of the conditions set forth in Article VIII has been satisfied or waived (other than those conditions that by their nature cannot be satisfied until the Closing, but subject to the satisfaction or waiver of such conditions) or such other date and time as Buyer and Sellers may mutually determine (such date, the “Closing Date”). The Closing shall be deemed to have been consummated at 12:01 a.m. Central Time on the Closing Date.


(b)	At the Closing, each Seller or Sellers’ Representative, on behalf of Sellers, as applicable, shall deliver or cause to be delivered to Buyer (unless otherwise specified) the following:


(i)	an Assignment and Assumption Agreement, duly executed by such Seller;


(ii)	a counterpart signature page to each Escrow Agreement, duly executed by Sellers’ Representative and the Escrow Agent;


(iii)	a certification of non-foreign status in accordance with U.S. Treasury Regulation § 1.1445-2(b)(2) and Section 1446(f) of the Code from such Seller, or to the extent that such Seller is disregarded as an entity from its parent, from such Seller’s regarded owner;


(iv)	the resignations (or evidence of removal) of (A) each of the directors and officers (as applicable) of each Acquired Company (in such director’s or officer’s capacity as such) controlled or appointed by such Seller, including those set forth on Annex 4, and (B) solely with respect to WGLM, the current managing member of the Company, in each case, effective as of the Closing;


(v)	the certificate referred to in Section 8.2(e);


(vi)	good standing certificates for each of the Acquired Companies from the applicable Secretaries of State of each of their respective jurisdictions of formation and each jurisdiction in which such Acquired Company is qualified to do business, dated within ten (10) days of the Closing Date;

(vii)

a certificate from a duly authorized officer of the applicable Seller certifying to and providing resolutions from the board of managers, members, managing member or similar governing body of such Seller duly authorizing and approving the execution and delivery of this Agreement and the other Transactions Documents to which such Seller is a party and the consummation of the transactions contemplated herein and therein;

(viii)

copies of duly executed, customary payoff letters and other instruments (in form and substance reasonably acceptable to Buyer) evidencing the termination, repayment and release of all EIF Meade Indebtedness and Closing Indebtedness (if any) and any Liens granted with respect thereto, the effectiveness of which is conditioned only on the occurrence of the Closing hereunder and the making of the payment set forth in Section 2.2(d)(i) (collectively, the “Payoff Documentation”); and


(ix)	a duly executed copy of the Member ROFO Waiver.


(c)	At the Closing, Buyer shall deliver or cause to be delivered the following:


(i)	to Sellers’ Representative, the Assignment and Assumption Agreements, duly executed by Buyer;


(ii)	to Sellers’ Representative, a counterpart signature page to each Escrow Agreement, duly executed by Buyer;

(iii)

to each Seller, by wire transfer of immediately available funds to the accounts specified with respect to such Seller under the heading “Wire Instructions” on Exhibit F or to another account or accounts otherwise designated by such Seller in writing no later than two (2) Business Days prior to the Closing Date, the portion of the Cash Purchase Price payable to such Seller in accordance with Section 2.2(d)(iv);


(iv)	to the Escrow Agent, the Adjustment Escrow Amount, the Transfer Tax Escrow Amount and the Indemnity Escrow Amount in accordance with Section 2.2(d)(ii) and Section 2.5(a);


(v)	to The Williams Companies, Inc., on behalf of the Company, the Operator Settlement Amount in accordance with the terms of the Operator Settlement Agreement; and


(vi)	to Sellers’ Representative, the certificate referred to in Section 8.3(d). ‎


2.5	Escrow.


(a)	Escrow Funds. At the Closing,


(i)	Buyer shall deposit the Adjustment Escrow Amount in the Adjustment Escrow Account to be held by the Escrow Agent in accordance with the terms of this Agreement and the Adjustment Escrow Agreement until it is released in accordance with Section 2.3(d);

(ii)

Buyer shall deposit the Indemnity Escrow Amount in the Indemnity Escrow Account to be held by the Escrow Agent in accordance with the terms of this Agreement and the Indemnity Escrow Agreement until it is released in accordance with Section 9.5(b)(i), as Buyer’s sole recourse for payment of Sellers’ indemnification obligations under Section 9.2(a)(ii) and Section 9.2(a)(iii), except in the case of Fraud; and

(iii)

Buyer shall deposit the Transfer Tax Escrow Amount in the Transfer Tax Escrow Account to be held by the Escrow Agent in accordance with the terms of this Agreement and the Transfer Tax Escrow Agreement until it is released in accordance with Section 9.5(b)(ii), as the sole source of the payment of Transfer Taxes in accordance with Section 7.3 and sole recourse for payment of Sellers’ indemnification obligations under Section 9.2(a)(i).

(b)

Written Instructions. Without limiting Sellers’ Representative or Buyer’s respective rights to unilaterally direct the Escrow Agent to distribute funds in accordance with the terms of the Escrow Agreements, each Party covenants and agrees that when any Person becomes entitled to any distribution of any Escrow Funds pursuant to any provision of this Agreement or the applicable Escrow Agreement, upon request, Buyer and Sellers’ Representative (on behalf of Sellers) shall promptly execute and deliver to the Escrow Agent joint written instructions setting forth the amounts to be paid from the applicable Escrow Funds in accordance with this Agreement or the applicable Escrow Agreement and wiring instructions designating the account(s) to which such amounts are to be paid (a “Joint Direction”). If either Buyer or Sellers’ Representative fails to execute and deliver a Joint Direction when so required, or if such party disputes whether a Joint Direction is required or there is a dispute over the amount to be distributed, Sellers or Buyer, as applicable, shall be entitled to receive distributions of (a) the applicable Escrow Funds that are not in dispute after delivery to the Escrow Agent of a written instruction from Buyer or Sellers’ Representative, as applicable, as set forth in the applicable Escrow Agreement and (b) the applicable Escrow Funds that are in dispute from the Escrow Agent promptly upon delivery to the Escrow Agent of a final, non-appealable Order issued or entered by a court of competent jurisdiction setting forth the amount to be paid to such Party.


(c)	Escrow Fees. Buyer, on the one hand, and Sellers, on the other hand, will share equally the payment of any fees, costs and expenses payable to the Escrow Agent pursuant to each Escrow Agreement.


(d)	Seller Liability. For purposes of clarification and avoidance of doubt, the liability of each Seller for any amount or obligation under this Agreement or any

certificate delivered by such Seller hereunder or in connection with any of the transactions contemplated hereby on an individual and several (and not joint and several) basis shall in no event have any effect on Buyer’s ability to recover the aggregate amounts available under the Escrow Funds in accordance with this Agreement and the applicable Escrow Agreement.

ARTICLE III.

REPRESENTATIONS AND WARRANTIES RELATING TO EACH SELLER

Each Seller hereby represents and warrants to Buyer solely with respect to itself that, as of the Execution Date and as of the Closing Date:

3.1 Organization.

Such Seller is a limited liability company that is duly organized, validly existing and in good standing under the Laws of the State of Delaware, has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted and is qualified to do business in each jurisdiction where the conduct of its business requires such qualification, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Seller to perform its obligations hereunder or to consummate the transactions contemplated hereby.


3.2	Authorization; Enforceability.

Such Seller has the requisite limited liability company power and authority to execute and deliver this Agreement and the other Transaction Documents to which such Seller is a party and to perform its obligations hereunder and thereunder. The execution, delivery and performance of this Agreement and the other Transaction Documents to which such Seller is a party and the consummation of the transactions contemplated hereby and thereby have been or will be prior to Closing duly and validly authorized and approved by all requisite limited liability company action on the part of such Seller. This Agreement has been and each of the other Transaction Documents to which such Seller is a party will be duly and validly executed and delivered by such Seller and constitutes or will constitute its valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, rehabilitation, liquidation, preferential transfer, moratorium and similar Laws now or hereafter affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at equity or law).


3.3	No Conflict.

The execution and delivery by such Seller of this Agreement and the other Transaction Documents to which such Seller is a party and the consummation of the transactions contemplated hereby and thereby by such Seller, assuming all required filings, consents, approvals, authorizations and notices set forth in Schedule 3.3 (collectively, the “Seller

Approvals”) required to be made, given or obtained by it have been so timely made, given or obtained, do not:


(a)	violate or conflict with any provision of the Organizational Documents of such Seller;


(b)	violate any Law applicable to such Seller or require any filing with, consent, approval or authorization of, or notice to, any Governmental Authority;


(c)	constitute (with or without notice or lapse of time or both) a default under, result in any breach of, or give any Person any rights of termination, acceleration or cancellation of, any material Contract to which such Seller or its assets or businesses is or are bound; or

(d)

pursuant to a preferential purchase right, right of first refusal or offer or buy-sell arrangement, give any Person the right to prevent, impede or delay the Closing under this Agreement or to acquire all or any part of (i) the equity interests or the assets or business of any applicable Acquired Company of such Seller, (ii) the Acquired Interests owned by such Seller as set forth on Schedule 3.6 or (iii) the Pipeline Interests to the extent of such Seller’s indirect ownership interest therein based on the Acquired Interests owned by such Seller as set forth on Schedule 3.6.


3.4	Litigation.

Except as set forth on Schedule 3.4, there is no Litigation pending or, to the Knowledge of such Seller, threatened against such Seller, and there are no Orders issued by any Governmental Authority binding upon such Seller that would, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Seller to perform its obligations hereunder or to consummate the transactions contemplated hereby.


3.5	Brokers’ Fees.

No broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission from such Seller or its Affiliates (including any Acquired Company that is an Affiliate of such Seller) in connection with the transactions contemplated by this Agreement for which Buyer or any Acquired Company will have any liability after the Closing.


3.6	Ownership of Acquired Interests.

Except as set forth on Schedule 3.6 such Seller has good and valid title to, holds of record, and owns beneficially its respective portion of the Acquired Interests set forth on Schedule 3.6, free and clear of any Liens (other than (a) restrictions on transfer that may be imposed by state or federal securities Laws, (b) restrictions on transfer that are expressly set forth in the Organizational Documents of the applicable Acquired Companies of such Seller, (c) restrictions listed on Schedule 2.1 and (d) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation). At the

Closing, such Seller will convey to Buyer good and valid title to its respective portion of the Acquired Interests set forth on Schedule 3.6, free and clear of all Liens (other than (i) restrictions on transfer that may be imposed by state or federal securities Laws, (ii) restrictions on transfer that are expressly set forth in the Organizational Documents of the applicable Acquired Companies, (iii) restrictions listed on Schedule 2.1 and (iv) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation). Schedule 3.6 includes a true, correct and complete copy of the Acquired Companies’ organizational and structure chart and the Acquired Interests.

ARTICLE IV.

REPRESENTATIONS AND WARRANTIES
RELATING TO THE ACQUIRED COMPANIES

Each Seller hereby represents and warrants to Buyer solely with respect to each applicable Acquired Company of such applicable Seller (and with respect to no other Acquired Companies) that, as of the Execution Date and as of the Closing Date:


4.1	Organization.

(a)

The Company is a limited liability company duly organized, validly existing and in good standing under the Laws of the State of Delaware, has the requisite limited liability company power and authority to own or lease its assets and to conduct its business as it is now being conducted and is qualified to do business in each jurisdiction where the conduct of its business requires such qualification, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the Company.

(b)

With respect to EIF and VED II only, River Road is a limited liability company duly organized, validly existing and in good standing under the Laws of the State of Delaware, has the requisite limited liability company power and authority to own or lease its assets and to conduct its business as it is now being conducted and is qualified to do business in each jurisdiction where the conduct of its business requires such qualification, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on River Road.

(c)

With respect to EIF and VED II only, Vega Midstream is a limited liability company duly organized, validly existing and in good standing under the Laws of the State of Delaware, has the requisite limited liability company power and authority to own or lease its assets and to conduct its business as it is now being conducted and is qualified to do business in each jurisdiction where the conduct of its business requires such qualification, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on Vega Midstream.

(d)

With respect to EIF and VED II only, EIF Vega is a limited liability company duly organized, validly existing and in good standing under the Laws of the State of Delaware, has the requisite limited liability company power and authority to own or lease its assets and to conduct its business as it is now being conducted and is qualified to do business in each jurisdiction where the conduct of its business requires such qualification, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on EIF Vega.

(e)

With respect to EIF only, EIF Meade is a limited liability company duly organized, validly existing and in good standing under the Laws of the State of Delaware, has the requisite limited liability company power and authority to own or lease its assets and to conduct its business as it is now being conducted and is qualified to do business in each jurisdiction where the conduct of its business requires such qualification, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on EIF Meade.


(f)	True, correct, and complete copies of the Organizational Documents of each applicable Acquired Company of such Seller have been made available to Buyer. All limited liability company actions taken by each Acquired Company in connection with this Agreement and the other Transaction Documents have been or will be duly authorized on or prior to the Closing.


4.2	No Conflict.

The execution and delivery by such Seller of this Agreement and the other Transaction Documents to which such Seller is a party and the consummation of the transactions contemplated hereby and thereby by such Seller, assuming all Seller Approvals required to be made, given or obtained have been so timely made, given or obtained, do not:


(a)	violate or conflict with any provision of the Organizational Documents of any applicable Acquired Company of such Seller;


(b)	violate any Law applicable to any applicable Acquired Company of such Seller or require any filing with, consent, approval or authorization of, or notice to, any Governmental Authority; or


(c)	constitute (with or without notice or lapse of time or both) a default under, result in any breach of, or give any Person any rights of termination, acceleration or cancellation of, any Disclosed Contract of any applicable Acquired Company of such Seller.


4.3	Capitalization; Subsidiaries.

Except as set forth in Schedule 4.3 or as set forth in the Organizational Documents for the applicable Acquired Company:

(a)

There are no outstanding membership interests, profits interests or other equity interests in any applicable Acquired Company of such Seller other than the Acquired Interests and other interests owned by the Acquired Companies. All of the outstanding membership interests, profits interests and other equity interests of the applicable Acquired Companies of such Seller have been duly authorized, fully paid and are validly issued.

(b)

With respect to EIF only, EIF Meade owns ninety percent (90%) of the issued and outstanding limited liability company interests in EIF Vega, and with respect to VED II only, VED II owns ten percent (10%) of the issued and outstanding limited liability company interests in EIF Vega, free and clear of all Liens (other than (i) restrictions on transfer that may be imposed by state or federal securities Laws, (ii) restrictions on transfer that are expressly set forth in the Organizational Documents of the applicable Acquired Companies of EIF and VED II, as applicable, (iii) restrictions listed on Schedule 2.1 and (iv) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation). With respect to EIF only, there are (A) no authorized or outstanding subscriptions, warrants, options, convertible securities or other rights (contingent or otherwise) to purchase or otherwise acquire, any equity interests of or in EIF Meade, (B) no commitments on the part of EIF Meade to issue shares, subscriptions, warrants, options, convertible securities, limited liability company interests, membership interests, general partnership interests, limited partnership interests or other similar rights of EIF Meade, and (C) no equity interests of EIF Meade are reserved for issuance for any such purpose. With respect to EIF only, EIF Meade does not have any obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any of its respective equity interests, there is no voting trust agreement, stockholders agreement, pledge agreement, buy-sell agreement, right of first refusal, preemptive right or proxy relating to any equity interests of EIF Meade, and EIF Meade does not own any equity interests in any Person other than EIF Vega.

(c)

With respect to EIF and VED II only, EIF Vega owns all of the issued and outstanding limited liability company interests in River Road and in Vega Midstream, free and clear of all Liens (other than (i) restrictions on transfer that may be imposed by state or federal securities Laws, (ii) restrictions on transfer that are expressly set forth in the Organizational Documents of the applicable Acquired Companies of EIF and VED II, (iii) restrictions listed on Schedule 2.1 and (iv) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation). With respect to EIF and VED II only, there are (A) no authorized or outstanding subscriptions, warrants, options, convertible securities or other rights (contingent or otherwise) to purchase or otherwise acquire, any equity interests of or in EIF Vega, (B) no commitments on the part of EIF Vega to issue shares, subscriptions, warrants, options, convertible securities, limited liability company interests, membership interests, general partnership interests, limited partnership interests or other similar rights of EIF Vega, and (C) no equity interests of EIF Vega are reserved for issuance for any such purpose. With respect to EIF and VED II only, EIF Vega does not have any obligation

(contingent or otherwise) to purchase, redeem or otherwise acquire any of its respective equity interests, there is no voting trust agreement, stockholders agreement, pledge agreement, buy-sell agreement, right of first refusal, preemptive right or proxy relating to any equity interests of EIF Vega, and EIF Vega does not own any equity interests in any Person other than River Road and Vega Midstream.

(d)

With respect to EIF and VED II only, River Road owns ten percent (10%) of the issued and outstanding limited liability company interests in the Company, free and clear of all Liens (other than (i) restrictions on transfer that may be imposed by state or federal securities Laws, (ii) restrictions on transfer that are expressly set forth in the Organizational Documents of the applicable Acquired Companies of EIF and VED II, (iii) restrictions listed on Schedule 2.1 and (iv) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation). With respect to EIF and VED II only, there are (A) no authorized or outstanding subscriptions, warrants, options convertible securities or other rights (contingent or otherwise) to purchase or otherwise acquire, any equity interests of or in River Road, (B) no commitments on the part of River Road to issue shares, subscriptions, warrants, options, convertible securities, limited liability company interests, membership interests, general partnership interests, limited partnership interests or other similar rights of River Road, and (C) no equity interests of River Road are reserved for issuance for any such purpose. With respect to EIF and VED II only, River Road does not have any obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any of its respective equity interests, there is no voting trust agreement, stockholders agreement, pledge agreement, buy-sell agreement, right of first refusal, preemptive right or proxy relating to any equity interests of River Road, and River Road does not own any equity interests in any Person other than the Company.

(e)

With respect to EIF and VED II only, Vega Midstream owns fifteen percent (15%) of the issued and outstanding limited liability company interests in the Company, free and clear of all Liens (other than (i) restrictions on transfer that may be imposed by state or federal securities Laws, (ii) restrictions on transfer that are expressly set forth in the Organizational Documents of the applicable Acquired Companies of EIF and VED II, (iii) restrictions listed on Schedule 2.1 and (iv) Liens that will be released in connection with the Closing pursuant to the Payoff Documentation). With respect to EIF and VED II only, there are (A) no authorized or outstanding subscriptions, warrants, options, convertible securities or other rights (contingent or otherwise) to purchase or otherwise acquire, any equity interests of or in Vega Midstream, (B) no commitments on the part of Vega Midstream to issue shares, subscriptions, warrants, options, convertible securities, limited liability company interests, membership interests, general partnership interests, limited partnership interests or other similar rights of Vega Midstream, and (C) no equity interests of Vega Midstream are reserved for issuance for any such purpose. With respect to EIF and VED II only, Vega Midstream does not have any obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any of its respective equity interests, there is no voting trust agreement,

stockholders agreement, pledge agreement, buy-sell agreement, right of first refusal, preemptive right or proxy relating to any equity interests of Vega Midstream, and Vega Midstream does not own any equity interests in any Person other than the Company.

(f)

There are (i) no authorized or outstanding subscriptions, warrants, options convertible securities or other rights (contingent or otherwise) to purchase or otherwise acquire, any equity interests of or in the Company, (ii) no commitments on the part of the Company to issue shares, subscriptions, warrants, options, convertible securities, limited liability company interests, membership interests, general partnership interests, limited partnership interests or other similar rights of the Company, and (iii) no equity interests of the Company are reserved for issuance for any such purpose. The Company does not have any obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any of its respective equity interests. There is no voting trust agreement, stockholders agreement, pledge agreement, buy-sell agreement, right of first refusal, preemptive right or proxy relating to any equity interests of the Company. The Company does not own any equity interest in any Person.


4.4	Financial Statements; No Undisclosed Liabilities.

(a)

Schedule 4.4(a) sets forth true and complete copies of the audited balance sheet and related audited statements of operations, cash flow and changes in members’ equity of the Company as of and for the fiscal year ended September 30, 2018, the audited balance sheet and related audited statements of operations, cash flow and changes in members’ equity of the Company as of and for the three (3) months ended on December 31, 2018 and the unaudited balance sheet and related unaudited statements of operations, cash flow and changes in members’ equity of the Company as of and for the eight (8) months ended on August 31, 2019 (collectively, the “Company Financial Statements”). The Company Financial Statements (i) have been prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby (except as otherwise set forth in the notes thereto); (ii) fairly present, in all material respects, the financial position, results of operations and cash flow of the Company as of the respective dates thereof or for the respective periods set forth therein (except as may be stated in therein or in the notes thereto, if applicable) and (iii) have been prepared consistent with the Records of the Company;provided, however, that the Company Financial Statements that are unaudited are subject in all respects to normal and recurring year-end adjustments (which will not be material, individually or in the aggregate) and do not contain all footnotes and schedules required in audited financial statements.


(b)	With respect to EIF only, Schedule 4.4(b) sets forth true and complete copies of the audited balance sheet and related audited statements of income, cash flow and changes in partners’ capital of EIF Meade as of and for the fiscal year ended December 31, 2018, and the unaudited balance sheet and related unaudited statements of income, cash flow and changes in partners’ capital of EIF Meade as

of and for the seven (7) months ended on July 31, 2019 (the “EIF Meade Financial Statements”). With respect to EIF only, the EIF Meade Financial Statements (i) have been prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby (except as otherwise set forth in the notes thereto); (ii) fairly present, in all material respects, the financial position, results of operations and cash flow of EIF Meade as of the respective dates thereof or for the respective periods set forth therein (except as may be stated in therein or in the notes thereto, if applicable) and (iii) have been prepared consistent with the Records of EIF Meade; provided, however, that the EIF Meade Financial Statements that are unaudited are subject in all respects to normal and recurring year-end adjustments (which will not be material, individually or in the aggregate) and do not contain all footnotes and schedules required in audited financial statements.

(c)

With respect to EIF and VED II only, Schedule 4.4(c) sets forth true and complete copies of the audited balance sheet and related audited statements of income, cash flow and changes in partners’ capital of EIF Vega as of and for the fiscal year ended December 31, 2018, and the unaudited balance sheet and related unaudited statements of income, cash flow and changes in partners’ capital of EIF Vega as of and for the seven (7) months ended on July 31, 2019 (the “EIF Vega Financial Statements”). With respect to EIF and VED II only, the EIF Vega Financial Statements (i) have been prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby (except as otherwise set forth in the notes thereto); (ii) fairly present, in all material respects, the financial position, results of operations and cash flow of EIF Vega as of the respective dates thereof or for the respective periods set forth therein (except as may be stated in therein or in the notes thereto, if applicable) and (iii) have been prepared consistent with the Records of EIF Vega; provided, however, that the EIF Vega Financial Statements that are unaudited are subject in all respects to normal and recurring year-end adjustments (which will not be material, individually or in the aggregate) and do not contain all footnotes and schedules required in audited financial statements.

(d)

The Company has no liabilities that would be required to be reflected on or reserved against in a balance sheet (or in the notes thereto) prepared in accordance with GAAP other than liabilities (i) reflected, reserved against or disclosed in the most recent balance sheet included in the Company Financial Statements, (ii) incurred since the Financial Statement Date in the ordinary course of business consistent with past practice (none of which results from, arises out of, relates to or was caused by any breach of contract, breach of warranty, tort, infringement or violation of Law by any Acquired Company), (iii) incurred in accordance with the terms of this Agreement (including any Contract entered into subsequent to the Execution Date pursuant to Section 6.1) or (iv) set forth on Schedule 4.4(d).


(e)	The applicable Acquired Companies of such Seller (other than the Company) have no liabilities that would be required to be reflected on or reserved against in a balance sheet (or in the notes thereto) prepared in accordance with GAAP other

than liabilities (i) reflected, reserved against or disclosed in the most recent balance sheet included in the EIF Meade Financial Statements or the EIF Vega Financial Statements, (ii) incurred since the Financial Statement Date in the ordinary course of business consistent with past practice (none of which results from, arises out of, relates to or was caused by any breach of contract, breach of warranty, tort, infringement or violation of Law by any Acquired Company), (iii) incurred in accordance with the terms of this Agreement (including any Contract entered into subsequent to the Execution Date pursuant to Section 6.1) or (iv) set forth on Schedule 4.4(e).


(f)	Except for the EIF Meade Indebtedness and as set forth in Schedule 4.4(f), the applicable Acquired Companies of such Seller do not have any outstanding Indebtedness.


4.5	Ownership of Property.

(a)

Subject to the release from escrow pursuant to the Transfer Documents Escrow Agreement, and the recording, if applicable, of the Transfer Documents, the Company owns one hundred percent (100%) of and has good and valid title to the Pipeline Interests, free and clear of any Liens except for Permitted Liens. Except for the Pipeline Interests, the Real Property Rights, rights under the Disclosed Contracts or as set forth in Section 4.3 or Schedule 4.5(a), none of the applicable Acquired Companies of such Seller holds or owns any other material property or assets, including any rights or interests in real property or any tangible, personal property.


(b)	To the Knowledge of such Seller, all of the material Real Property Rights with respect to the Main Facilities are listed on Schedule 4.5(b). Except for the Real Property Rights, there are no other real property rights or interests which are material to or otherwise required in connection with the ownership or operation of the Business, including the Pipeline Interests.


4.6	Litigation.

Except as set forth in Schedule 4.6, there is no Litigation pending or, to the Knowledge of such Seller, threatened by any Person (a) against any applicable Acquired Company of such Seller; (b) which affects any applicable Acquired Company of such Seller or the Pipeline Interests or the Business; or (c) which challenges or seeks the rescission of this Agreement or seeks to prevent, enjoin, alter, or materially delay the consummation of the transactions contemplated herein by such Seller. There are no outstanding Orders issued or imposed by any Governmental Authority upon any applicable Acquired Company of such Seller, the Pipeline Interests or the Business which have not been satisfied.


4.7	Taxes.

Except as set forth on Schedule 4.7, (a) all Tax Returns required to be filed by or with respect to the applicable Acquired Companies of such Seller have been timely filed (taking into account extensions) and all such Tax Returns (including information

provided therewith or with respect thereto) are true, correct and complete in all material respects, (b) all Taxes owed by the applicable Acquired Companies of such Seller, whether or not shown to be due on any such Tax Return, have been timely paid, (c) there are no Liens with respect to Taxes on any of the assets of the applicable Acquired Companies of such Seller other than Permitted Liens, (d) each applicable Acquired Company of such Seller has timely withheld, collected or deposited all Taxes required to be so withheld, collected or deposited, as the case may be, and to the extent required, paid to the relevant Tax Authority, (e) there is no written claim pending by any applicable Tax Authority in connection with any Tax of any applicable Acquired Company of such Seller, (f) no audit or other administrative or judicial Tax examination or Tax Proceeding by any Tax Authority is being conducted or is pending or threatened in writing with respect to the applicable Acquired Companies of such Seller, (g) there are no agreements or waivers providing for an extension of time with respect to the filing of any Tax Returns of the applicable Acquired Companies of such Seller ‎(other than an automatic extension of time not requiring the consent of the I‎RS or any other applicable Tax Authority)‎, (h) each of the applicable Acquired Companies of such Seller is, and at all times since the date of its formation has been, classified for U.S. federal income Tax purposes as either a disregarded entity or a partnership, (i) no extension or waiver of a statute of limitations relating to, or the period for the collection ‎or assessment by a taxing authority of, Taxes is in effect with respect to the applicable Acquired Companies of such Seller for any Tax period, and there are no outstanding written requests ‎or written demands by any Tax Authority to extend or waive any such period of limitation or ‎collection or assessment, (j) no claim or nexus inquiry has been made in writing by a Tax Authority in a ‎jurisdiction where any applicable Acquired Company of such Seller does not file Tax Returns that ‎any such Acquired Company is or may be subject to taxation by that jurisdiction, (k) no applicable Acquired Company of such Seller has participated or engaged in any ‎“reportable transaction” within the meaning of Treasury Regulations Section 1.6011-4 (or any corresponding or similar provision of state, local or non-U.S. Tax Law), (l) no applicable Acquired Company of such Seller (i) is a party to any Tax allocation or sharing agreement‎, (ii) is or has been a member of an affiliated group filing consolidated or combined Tax Returns (other than groups ‎the common parent of which are or were any of Sellers)‎ or (iii) otherwise has any liability for the Taxes of any Person, and (m) no applicable Acquired Company of such Seller will be ‎ required to include any item of income in, or exclude any item of deduction from, taxable ‎income for any Tax period (or portion thereof) ending after the Closing Date as a result of (i) ‎any change in method of accounting for a Tax period ending on or prior to the Closing Date, ‎‎(ii) any “closing agreement” as described in Section 7121 of the Code (or any corresponding or ‎similar provision of state, local or foreign Tax Law) executed on or prior to the Closing ‎Date, (iii) any installment sale or open transaction disposition made on or prior to the Closing ‎Date, (iv) any prepaid amount received or deferred revenue accrued on or prior to the Closing Date, ‎‎or (v) an election made pursuant to Section 108(i) of the Code or Section 965 of the Code (or any ‎corresponding or similar provisions of applicable Law) on or prior to the Closing Date‎.


4.8	Absence of Changes.

Except as otherwise disclosed in Schedule 4.8 or to the extent of actions taken from and after the Execution Date that are permitted under and in compliance with Section 6.1, since the Financial Statement Date, (a) the Business has been conducted by the applicable Acquired Companies of such Seller in all material respects in the ordinary course of business consistent with past practice; (b) there has been no change, event or loss affecting the applicable Acquired Companies of such Seller or the Business that has had or would reasonably be expected to have a Material Adverse Effect; and (c) such Seller and the applicable Acquired Companies of such Seller have not taken any action that would require consent or be required to be disclosed under Section 6.1.


4.9	Contracts.

(a)

Except as otherwise disclosed in Schedule 4.9(a) and except for the Real Property Rights, there are no outstanding Contracts to which any applicable Acquired Company of such Seller is a party as of the Execution Date that are material to the Business. The Contracts identified in Schedule 4.9(a) are hereafter referred to as the “Disclosed Contracts”. True, accurate and complete copies of each Disclosed Contract with respect to each applicable Acquired Company of such Seller have been made available to Buyer.

(b)

Except as described in Schedule 4.9(b), (i) each Disclosed Contract is valid and in full force and effect according to its terms with respect to each applicable Acquired Company of such Seller that is party thereto and, to the Knowledge of such Seller, with respect to each other party thereto, (ii) no applicable Acquired Company of such Seller and, to the Knowledge of such Seller, no other Person is in default or breach under any such Disclosed Contract, (iii) no event has occurred which (with notice or lapse of time, or both) would constitute a default or event of default by an applicable Acquired Company of such Seller, or to the Knowledge of such Seller, any other party, including the Operator, under the terms of any Disclosed Contract, (iv) each of the Disclosed Contracts constitutes the valid and binding obligation of the applicable Acquired Company and, to the Knowledge of such Seller, constitutes the valid and binding obligation of the other parties thereto, (v) no party to a Disclosed Contract has provided, nor has such Seller or any applicable Acquired Company of such Seller received, any written notice regarding a breach of or written notice to terminate such Disclosed Contract and (vi) neither such Seller nor any applicable Acquired Company of such Seller is currently participating in any active discussions or negotiations regarding modification of or amendment to any Disclosed Contract.


(c)	The Operator’s right to acquire an Ownership Share (as such term is defined in the Main Facilities C&O Agreement) under Section 3.3 of each C&O Agreement (the “Transco ROFO”) will not apply with respect to the execution and delivery of this Agreement or any of the Transaction Documents or the consummation of the transactions contemplated hereunder and thereunder. The Operator Settlement

Agreement is a valid and effective waiver of the Transco ROFO to the extent it would otherwise apply to such transactions.


4.10	Compliance with Laws; Permits.

(a)

Except as set forth in Schedule 4.10, (i) each applicable Acquired Company of such Seller and the Business is and has been in compliance in all material respects with all Laws applicable to such Acquired Company and the operation of the Business, as applicable, and (ii) neither such Seller nor any applicable Acquired Company of such Seller has received any written communication from a Governmental Authority that alleges that any such Acquired Company or the Business is not in compliance with or is in default or violation, in any material respect, of any applicable Law which has not been fully and finally resolved or settled.

(b)

Each applicable Acquired Company of such Seller possesses all material Permits as are necessary for such Acquired Companies to carry on the Business (the “Material Permits”). Except as set forth in Schedule 4.10, all such Material Permits with respect to each applicable Acquired Company of such Seller are in full force and effect. Each applicable Acquired Company of such Seller is in compliance with such Material Permits in all material respects. No suspension or cancellation of any such Material Permit with respect to each applicable Acquired Company of such Seller is pending or, to the Knowledge of such Seller, threatened. True, correct and complete copies of all Material Permits with respect to each applicable Acquired Company of such Seller have been made available to Buyer.


4.11	Employee Benefit Plans.

(a)

No applicable Acquired Company of such Seller currently has, or has ever had, any employees. No applicable Acquired Company of such Seller currently has, or has ever had, any liability with respect to any employee, independent contractor or consultant who has been employed or otherwise engaged by the Controlled Group and provided services with respect to an applicable Acquired Company of such Seller. There is no Litigation currently pending or, to the Knowledge of such Seller, threatened ‎against any of the applicable Acquired Companies of such Seller, which relate to any such Acquired Companies’ status as an employer (including as a joint employer or alter ego under applicable Law). ‎

(b)

No applicable Acquired Company of such Seller maintains, participates in or has any obligation to contribute to any Employee Benefit Plans. There does not now exist, nor do any ‎circumstances exist that could result in, any Controlled Group Liability that would be, or could become, a liability following the Closing Date of Buyer, an applicable Acquired Company of such Seller or any of their respective Affiliates.‎


4.12	Intellectual Property.

None of the applicable Acquired Companies of such Seller owns, licenses or uses any material Intellectual Property, including in connection with the Business. ‎ To the Knowledge of such Seller, the ‎operation of the Business does not infringe or ‎misappropriate any Intellectual Property rights of any other Person.


4.13	Transactions with Affiliates.

Except as set forth in Schedule 4.13, (a) there are no Contracts between (i) any Acquired Company or any of its respective directors, managers, officers, employees or consultants, on the one hand, and (ii) such Seller or any other Related Party, on the other hand, other than the Organizational Documents of the Acquired Companies and (b) no Related Party has any interest in any property (real, personal, or mixed), tangible or intangible, used or currently intended to be used by the applicable Acquired Companies of such Seller or in connection with the Pipeline Interests or the Business. No Related Party has loaned money to or borrowed money from the applicable Acquired Companies of such Seller.


4.14	Certain Payments.

None of the applicable Acquired Companies of such Seller nor such Seller nor, to the Knowledge of such Seller, anyone acting on their behalf, including any officer, director, employee, independent contractor, consultant or agent, has directly or indirectly authorized, paid or delivered or agreed to pay or deliver any fee, commission or other sum of money or item of property, however characterized, to any Person, foreign, federal, state, provincial or local government official or other party, including any political party or official thereof or candidate for political office, that is in any manner related to the applicable Acquired Companies of such Seller or the Business that is illegal or improper under any Law.


4.15	Records.

All Records with respect to each applicable Acquired Company of such Seller that are in the possession of such Seller or its Affiliates (a) are complete and correct in all material respects, (b) have been maintained in all material respects in accordance with reasonable business practices and GAAP where applicable, including the maintenance of an adequate system of internal controls, (c) have been kept with reasonable detail and (d) have been kept with reasonable detail so that such books, records and files accurately and fairly reflect, in all material respects, the transactions, acquisitions and dispositions of the Acquired Companies and all actions taken by the Acquired Companies’ members, officers, board of managers or directors, and committees thereof.


4.16	Bankruptcy.

There are no bankruptcy, insolvency, reorganization or receivership proceedings pending against, being contemplated by or, to the Knowledge of such Seller, threatened against any of the applicable Acquired Companies of such Seller or their respective assets or properties.


4.17	Central Penn Line.

There is no Litigation pending, and to the Knowledge of such Seller, no written notice has been delivered, with respect to an indemnity claim by the Company against the Operator under the O&M Agreement, nor, to the Knowledge of such Seller, has any such Litigation or indemnity claim been threatened in writing by such Seller or any applicable Acquired Company of such Seller.


4.18	Bank Accounts.

Schedule 4.18 sets forth a true, complete and correct list of all deposit, demand, time, savings, passbook, security or similar accounts that each applicable Acquired Company of such Seller maintains with any bank or financial institution, the names and addresses of the financial institutions maintaining each such account, the purpose for which such account is established and the authorized signatories on each such account.


4.19	Insurance.

To the Knowledge of such Seller, the Operator is in compliance with all applicable insurance requirements under the C&O Agreements and the O&M Agreement and has in place policies of insurance in sufficient amounts and scope in accordance with the terms and provisions of the C&O Agreements and the O&M Agreement.

ARTICLE V.

REPRESENTATIONS AND WARRANTIES RELATING TO BUYER

Buyer hereby represents and warrants to each Seller that, as of the Execution Date and as of the Closing Date:


5.1	Organization.

Buyer is a limited liability company, duly organized, validly existing and in good standing under the Laws of the State of Delaware, has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted and is qualified to do business in each jurisdiction where the conduct of its business requires such qualification, except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on Buyer’s ability to perform its obligations hereunder or to consummate the transactions contemplated hereby.


5.2	Authorization; Enforceability.

Buyer has all requisite limited liability company power and authority to execute and deliver this Agreement and the other Transaction Documents to which Buyer is a party and to perform its obligations hereunder and thereunder. The execution, delivery and performance of this Agreement and the other Transaction Documents to which Buyer is a party and the consummation of the transactions contemplated hereby and thereby have been or will be prior to the Closing duly and validly authorized and approved by all

requisite action on the part of Buyer, and no other authorization on the part of Buyer is necessary to authorize this Agreement. This Agreement and the other Transaction Documents to which Buyer is a party has been or will be duly and validly executed and delivered by Buyer and, assuming due execution by the other Parties hereto, constitutes or will constitute its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, rehabilitation, liquidation, preferential transfer, moratorium and similar Laws now or hereafter affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at equity or law).


5.3	No Conflict.

The execution and delivery by Buyer of this Agreement and the other Transaction Documents to which Buyer is a party and the consummation of the transactions contemplated hereby and thereby by Buyer, assuming all required filings, consents, approvals, authorizations and notices set forth in Schedule 5.3 required to be made, given or obtained by it have been so made, given or obtained, do not:


(a)	violate or conflict with any provision of the Organizational Documents of Buyer;


(b)	violate any Law applicable to Buyer or require any filing with, consent, approval or authorization of, or notice to, any Governmental Authority; or


(c)	require any consent under, constitute (with or without notice or lapse of time or both) a default under, result in any breach of, or give any Person any rights of termination, acceleration or cancellation of, any material Contract to which Buyer or any of its assets or businesses is or are bound.


5.4	Litigation.

There is no Litigation pending or, to the actual knowledge of Buyer, threatened against Buyer, and there are no Orders binding upon Buyer that would, individually or in the aggregate, reasonably be expected to have a material adverse effect on Buyer’s ability to perform its obligations hereunder or to consummate the transactions contemplated hereby.


5.5	Financial Ability; Solvency.

(a)

At the Closing, Buyer will have sufficient immediately available funds to pay in cash the amount of the Purchase Price and all other amounts payable pursuant to this Agreement, to consummate all of the transactions contemplated hereby and to satisfy all other costs and expenses arising in connection herewith. All funds paid to Sellers shall not have been derived from, or constitute, either directly or indirectly, the proceeds of any criminal activity under the anti-money laundering laws of the United States or any other jurisdiction.


(b)	There are no bankruptcy, reorganization or receivership proceedings pending against, being contemplated by or, to the knowledge of Buyer, threatened against Buyer or any of its Affiliates (whether by Buyer or any Third Party).

(c)

Immediately after the consummation of the transactions contemplated by this Agreement (including the payment in full of the Purchase Price), (i) Buyer will be solvent, (ii) Buyer shall not have incurred debts beyond its ability to pay such debts as they mature and (iii) the reasonable market value of the assets of Buyer and the Acquired Companies, both on an individual and on a consolidated basis, will exceed the total amount of liabilities of such Persons.


5.6	Investment Representation.

Buyer is acquiring the Acquired Interests for its own account as an investment and not with a view to sell, transfer or otherwise distribute all or any part thereof to any other Person in any transaction that would constitute a “distribution” within the meaning of the Securities Act. Buyer acknowledges that it can bear the economic risk of its investment in the Acquired Interests, and has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment in all of the Acquired Interests. Buyer is an “accredited investor” as such term is defined in Rule 501 of Regulation D under the Securities Act. Buyer understands that neither the offer nor sale of the Acquired Interests has or will have been registered pursuant to the Securities Act or any applicable state securities Laws, that all of the Acquired Interests will be characterized as “restricted securities” under federal securities Laws and that, under such Laws and applicable regulations, none of the Acquired Interests can be sold or otherwise disposed of without registration under the Securities Act or an exemption thereunder.


5.7	R&W Insurance Policy.

Buyer has received the R&W Conditional Binder executed by the R&W Insurer. The R&W Conditional Binder attached hereto as Exhibit D is a true and correct copy of the R&W Conditional Binder.


5.8	Independent Investigation.

BUYER ACKNOWLEDGES AND AGREES THAT IT HAS MADE ITS OWN INDEPENDENT INQUIRY AND INVESTIGATION INTO, AND, BASED THEREON, HAS FORMED AN INDEPENDENT JUDGMENT CONCERNING, SELLERS, THE ACQUIRED INTERESTS, THE ASSETS, PROPERTIES AND LIABILITIES OF THE ACQUIRED COMPANIES, THE BUSINESS AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

ARTICLE VI.

COVENANTS


6.1	Conduct of Business.

(a)

From the Execution Date through the Closing, or, if earlier, the date this Agreement is terminated pursuant to Section 10.1, except as otherwise contemplated or permitted by this Agreement (including as set forth in Section 6.1(c) and with respect to the matters set forth on Schedule 6.1 and the other matters contemplated by the other Schedules, Annexes and Exhibits attached hereto), as required by applicable Law or as consented to by Buyer in writing (which consent shall not be unreasonably withheld, conditioned or delayed), the applicable Sellers shall cause the Acquired Companies to:


(i)	operate in the usual and ordinary course of business consistent with past practice in all material respects;


(ii)	use Commercially Reasonable Efforts to preserve in all material respects the Acquired Companies’ present business operations and organization and relationships, including with the Operator and any employees, customers, suppliers and creditors;


(iii)	use Commercially Reasonable Efforts to keep and maintain the Records in the usual and ordinary course of business consistent with past practice;


(iv)	provide prompt written notice following receipt by Sellers, any Acquired Companies or any of their Affiliates of any written notice of a material violation or alleged material default or material breach of any Law, Disclosed Contract or Material Permit by any Acquired Company or any Law, Disclosed Contract or Permit affecting the Pipeline Interests or the Business;


(v)	provide prompt written notice to Buyer following receipt by any Seller, any Acquired Company or any of their respective Affiliates of any lawsuit or written claim from any Third Party seeking to restrain the transactions contemplated by this Agreement or seeking damages with respect to the transactions contemplated by this Agreement, including the Operator;


(vi)	provide prompt written notice to Buyer of the receipt of any capital call under either of the C&O Agreements, the making of any distributions by the Company, the making of any Capital Contributions or any capital contributions under the C&O Agreements; and


(vii)	provide prompt written notice to Buyer in the event that any of the Acquired Companies changes in any material respect its working capital practices, including acceleration of any ‎collections of cash or accounts receivables or deferred or delayed payments or ‎failure to make timely accruals, including with respect to accounts payable and ‎liabilities.

(b)

Notwithstanding anything to the contrary herein, except as otherwise contemplated or permitted by this Agreement (including as set forth in Section 6.1(c) and with respect to the matters set forth on Schedule 6.1 and the other matters contemplated by the other Schedules, Annexes and Exhibits attached hereto), the applicable Sellers shall not permit any Acquired Company to take any of the following actions:


(i)	sell, transfer or otherwise dispose of any of the Acquired Companies, including their respective assets or properties, or the Acquired Interests;


(ii)	amend its Organizational Documents;


(iii)	liquidate, dissolve, recapitalize, reorganize, or otherwise wind up any Acquired Company;


(iv)	change its accounting methods, policies or practices, except as required by GAAP;


(v)	merge or consolidate with, or purchase, directly or indirectly, any material assets or substantially all of the assets or businesses of, or equity interests in, or make an investment in, any Person (other than capital contributions to the Acquired Companies in accordance with their respective Organizational Documents);


(vi)	issue or sell any equity interests, notes, bonds or other securities of any Acquired Company or any Acquired Interests, or any option, warrant or right to acquire the same;

(vii)

(A) redeem, purchase or acquire or offer to purchase or acquire any of the equity interests of the Acquired Companies, including the Acquired Interests, (B) effect any reorganization or recapitalization of the Acquired Companies, (C) split, combine or reclassify any of the Acquired Interests; or (D) declare, set aside, make or pay any cash or non-cash dividend or distribution other than any Permitted Distribution;


(viii)	except in the ordinary course of business, (A) enter into or assume any material Contract or (B) terminate or amend any Disclosed Contract;


(ix)	take any material action under any Disclosed Contract other than in the ordinary course of business or as required by the terms of such Contract;


(x)	terminate or fail to renew any Material Permit;


(xi)	agree to fund any Major Cost Overrun Capital Call under (and as defined in) the C&O Agreements, or agree to participate in an Eligible Expansion under (and as defined in) the C&O Agreements;


(xii)	agree to a renegotiation of the Monthly Lease Charge under the Lease Agreements that is lower than the Monthly Lease Charge set forth in the applicable Lease Agreement;


(xiii)	provide consent to the taking of any material action under Section 3.2 of the O&M Agreement;


(xiv)	incur, create, or otherwise become liable for any Indebtedness (other than the EIF Meade Indebtedness), guarantee any debt or obligations of any Person or grant any Lien on any of the Acquired Companies, including their assets and properties, or the Acquired Interests;


(xv)	make any regulatory filing other than in the ordinary course of business;


(xvi)	settle any material lawsuits or claims or otherwise waive any material right with respect to the Acquired Companies or the Pipeline Interests;


(xvii)	take any action under the Company LLC Agreement that requires Super Majority Consent or Unanimous Consent (as such terms are defined in the Company LLC Agreement);

(xviii)

make or change any material method of accounting or material Tax election, file any amended Tax Return (other than the amendments to the 2014-2018 income tax returns of the Acquired Companies) or, ‎except as required by applicable Law, take any position on any Tax Return inconsistent with ‎past practice, make any Tax amnesty filing or other voluntary Tax disclosure, enter into any ‎closing or other Tax agreement with a Tax Authority, settle or compromised any Tax ‎claim;‎


(xix)	instruct the escrow agent under the Transfer Documents Escrow Agreement to release any of the Transfer Documents from escrow thereunder; or


(xx)	agree, whether in writing or otherwise, to do any of the foregoing;

provided, however, that Buyer acknowledges that the Operator may be permitted to take certain of the foregoing actions with respect to the Central Penn Line pursuant to the Disclosed Contracts to which it is a party, and the Operator’s taking of any such action shall not constitute a breach of this Section 6.1(b) unless the Company consents to the Operator taking such action in violation of this Section 6.1(b); provided further that if the applicable Sellers request consent from Buyer to do any of the foregoing actions and upon receipt, Buyer does not respond to such request within five (5) Business Days, Buyer shall be deemed to have consented to such request. Buyer’s receipt of information pursuant to this Section 6.1 shall not operate as a waiver or otherwise affect any representation, warranty, covenant or agreement given or made by Sellers in this Agreement and shall not be deemed to amend or supplement the Disclosure Schedules.

(c)

Notwithstanding anything to the contrary in Section 6.1(a) or Section 6.1(b), (i) the Company shall be permitted to make any number and size of dividends and distributions of cash to the Members prior to the Closing in the ordinary course of business consistent with past practice, subject to the Purchase Price Adjustment contemplated in Section 2.2(a)(iv), and (ii) each Acquired Company other than the Company shall be permitted to make any number and size of dividends or distributions of cash prior to the Closing without affecting the Purchase Price (provided that all cash held in the collateral accounts associated with the EIF Meade Indebtedness as of the Closing shall remain the property of EIF Meade immediately following the Closing and shall not be distributed or paid to EIF or any other Seller to the extent such cash is treated as a current asset in the determination of EIF Meade Net Working Capital) (any dividends or distributions permitted by this Section 6.1(c), the “Permitted Distributions”).


6.2	Access.

(a)

Prior to the Closing Date or, if earlier, until the date this Agreement is terminated pursuant to Section 10.1, each Seller shall afford (and shall cause the applicable Acquired Companies to afford) to Buyer and its authorized Representatives reasonable access, during normal business hours, to (i) the Records and Contracts (A) of the applicable Acquired Companies or (B) in the possession or control of Sellers or any of their Affiliates or Representatives and with respect to the Pipeline Interests and the Business, and (ii) the appropriate officers and employees of such applicable Acquired Companies, in each case, as reasonably requested by Buyer and as may be necessary to assist Buyer in connection with Buyer’s understanding and integrating of the Business into Buyer’s organization following the Closing; provided, however, that such access shall be subject to and in accordance with the terms and conditions of the Disclosed Contracts, shall only be upon reasonable advance written notice, shall not unreasonably disrupt personnel or operations of the Business, and shall be at Buyer’s sole cost and expense. Each applicable Seller shall have the right to have Representatives present at all times during any inspections, interviews and examinations. Notwithstanding the foregoing, Buyer shall have no right of access to, and no Seller shall have any obligation to provide to Buyer, (1) information relating to bids received from Third Parties in connection with transactions similar to those contemplated by this Agreement and information and analysis (including financial analysis) relating to such bids; (2) any information the disclosure of which would reasonably be expected to jeopardize any privilege relating to such information available to the Acquired Companies, any Seller or any Affiliate of any Seller or would reasonably be expected to cause the applicable Acquired Companies, any Seller or any Affiliate of any Seller to breach a confidentiality obligation, which privilege or confidentiality obligation shall be disclosed to Buyer in summary form and in the event such privilege or obligation exists, Sellers shall use Commercially Reasonable Efforts to provide reasonable substitute arrangements for Buyer; (3) any information the disclosure of which would reasonably be expected to result in a violation of Law; or (4) any financial or proprietary information of or regarding any Seller or its Affiliates (excluding any applicable

Acquired Company) or any other information regarding such Seller or its Affiliates (excluding any applicable Acquired Company) which such Seller reasonably deems in good faith commercially sensitive. It is further agreed that neither Buyer nor its Representatives shall contact any of the employees, customers, suppliers, contractors, lenders, landlords, licensors or Persons that have a business relationship with any Acquired Company in connection with the transactions contemplated hereby or the assets of any Acquired Company, whether in person or by telephone, mail or other means of communication, without the specific prior authorization of each applicable Seller, which consent shall not be unreasonably withheld, conditioned or delayed, and without Representatives of such applicable Seller or applicable Sellers being present; provided, however that notwithstanding the foregoing or anything else in this Agreement to the contrary, Buyer and its Affiliates and its and their respective Representatives shall be permitted to contact the Operator without the prior authorization of any Seller as may be necessary to assist Buyer in connection with Buyer’s understanding and integrating of the Business into Buyer’s organization following the Closing or as otherwise contemplated by or required in connection with the Operator Settlement Agreement.

(b)

Buyer shall release,indemnify, defend and hold harmless the Seller Indemnified Parties effective as and from the Execution Date, from and against any claims, demands, actions, causes of action or Losses that they or any of them may suffer or incur, or that may be made or brought against any of them, as a result of, in respect of, or arising out of any injury to any Person or property resulting from or relating to the activities of Buyer or its Representatives under Section 6.2(a) except to the extent that such claims, demands, actions, causes of action or Losses are caused by or result from the gross negligence or willful misconduct of any Seller Indemnified Party or result from matters discovered during such activities under Section 6.2(a) by Buyer or its Affiliates or Representatives to the extent such discoveries are of pre-existing conditions not caused or exacerbated by Buyer or such Persons. The foregoing indemnification obligation shall survive termination of this Agreement.

(c)

From and after the Closing, Buyer shall preserve and keep the Records of the Acquired Companies (including all accounting records) to the extent relating to events that occurred prior to the Closing for a period of four (4) years from the Closing, or for any longer periods as may be required by any Governmental Authority or ongoing Litigation. For a period of seven (7) years from the Closing, if Buyer wishes to destroy such Records after such time period, it shall give thirty (30) days’ prior written notice to Sellers, and each applicable Seller shall have the right at their option and expense, upon prior written notice within such thirty (30) day period, to take possession of the Records that existed as of the Closing Date, to the extent such Records are applicable to such Seller or its Affiliates, within thirty (30) days after the date of Buyer’s notice to Sellers. From and after the Closing, Buyer agrees, upon reasonable prior notice from the applicable Sellers, during normal business hours and at the requesting Seller’s sole cost and expense, to provide to each such applicable Seller access to or

copies of Records of the Acquired Companies to the extent (i) relating to events that occurred prior to the Closing, (ii) needed for a legitimate business purpose and (iii) such Records are applicable to such requesting Seller; provided, that, for the avoidance of doubt, neither of COG nor WGLM may request or receive Records under this Section 6.2(c) to the extent relating to any Acquired Company or Acquired Companies other than the Company, and neither of VED I nor VED II may request or receive Records under this Section 6.2(c) to the extent relating to EIF Meade.


6.3	Confidentiality.

(a)

The terms of the Confidentiality Agreement are hereby incorporated by reference, Buyer agrees to be bound by the terms of the Confidentiality Agreement and the Confidentiality Agreement, shall continue in full force and effect in accordance with its terms until the Closing Date; provided that if this Agreement is, for any reason, terminated prior to the Closing, the Confidentiality Agreement shall continue in full force and effect in accordance with its terms. Nothing provided to Buyer or its Affiliates or its or their respective Representatives pursuant to Section 6.2(a) shall in any way amend or diminish Buyer’s obligations under the Confidentiality Agreement. Buyer acknowledges and agrees that any written, oral or other information provided to Buyer or its Affiliates or its or their respective Representatives pursuant to Section 6.2(a) or otherwise by Sellers or any of their Affiliates or any of their respective Representatives shall be subject to the terms and conditions of the Confidentiality Agreement and the remainder of this Section 6.3.

(b)

Each Seller acknowledges that any non-public information about the Acquired Companies, the Pipeline Interests and the Business (the “Confidential Information”) is the property of the Acquired Companies. From and after the Closing Date until the date that is eighteen (18) months after the Closing Date, each Seller shall, and shall use Commercially Reasonable Efforts to cause its Affiliates and its and their respective Representatives to, maintain all Confidential Information in strict confidence and secrecy, and shall not, directly or indirectly, disclose any Confidential Information to any Person other than Buyer or its Affiliates, except to the extent that such information (through no fault of Sellers or their respective Affiliates or Representatives) (i) is generally available to the public, (ii) is lawfully acquired by Sellers, any of their Affiliates or their respective Representatives from and after the Closing from sources that are not known to Sellers to be prohibited from disclosing such information by a legal or contractual obligation, or (iii) is required to be disclosed under applicable Law or is requested by a Governmental Authority (by oral questions, interrogatories, requests for information or documents in legal proceedings, subpoena, civil investigative demand or other similar process) or in connection with a routine audit to be disclosed; provided that if any Seller or any of its Affiliates or their respective Representatives is so compelled to disclose any such Confidential Information, then such Seller shall promptly notify Buyer in writing and shall disclose only that portion of such information which such Seller is legally

required to disclose; provided further, that such Seller shall use its Commercially Reasonable Efforts to cooperate with Buyer to obtain an appropriate protective order upon Buyer’s request and at Buyer’s sole expense or other reasonable assurance that confidential treatment will be accorded such information. This Section 6.3(b) shall not prohibit disclosure of any Confidential Information to any Representatives of Sellers or their Affiliates who agree to keep such Confidential Information confidential and are informed of the terms of this Section 6.3(b); provided that each Seller shall be responsible for any breach of this Section 6.3(b) by such Representatives to which it disclosed such Confidential Information.


6.4	Third Party and Governmental Approvals.

(a)

From the Execution Date through the Closing Date, Buyer and each Seller shall (and shall each cause their respective Affiliates to) use Commercially Reasonable Efforts to make or obtain all notices, filings, consents, waivers, confirmations, novation and approvals of Third Parties that any of Buyer, any Seller or their respective Affiliates are required to make or obtain in order to consummate the transactions contemplated hereby and maintain such consents in full force and effect once made or obtained; provided, however, that prior to the Closing, except as otherwise contemplated herein or pursuant to the Operator Settlement Agreement, Buyer shall not, and shall cause its Affiliates and its and their respective Representatives not to, contact any customer, supplier or other Third Party in connection with any such consent required to be obtained by any Seller or its Affiliates without the prior written consent of all applicable Sellers, which such consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the contrary in this Agreement, neither Buyer nor Sellers or any of their respective Affiliates shall be obligated to make any payments or otherwise pay any consideration to any Third Party, to commence or participate in any Litigation by or against any Third Party or to offer or grant any accommodation to any Third Party in connection with any such consent, waiver, confirmation, novation or approval. Each Party shall use its Commercially Reasonable Efforts to cooperate with the reasonable requests of the other Party (or Parties) in seeking to obtain as promptly as practicable all such consents, waivers, confirmations, novations or approvals. Unless otherwise required (or permitted) pursuant to this Section 6.4(a), neither Sellers nor Buyer shall take, or cause to be taken, any action that they are aware or should reasonably be aware could reasonably be expected to have the effect of delaying, impairing or impeding the receipt of any such consent, waiver, confirmation, novation or approval. For purposes of this Section 6.4(a), “Third Party” shall not include any Governmental Authority, it being expressly understood that Governmental Authority approvals are addressed in Section 6.4(b).

(b)

consummate the transactions contemplated hereby and maintain such consents in full force and effect once made or obtained, which shall include to (i) make or cause to be made the filings required of such Party or any of its Affiliates under the HSR Act and any other foreign, federal, state or local Laws with respect to the transactions contemplated by this Agreement, as promptly as is reasonably practicable, and in any event within ten (10) Business Days after the Execution Date, and, except with respect to the HSR Act as provided below, pay any fees due from it in connection with such filings, (ii) cooperate with and assist the other Party (or Parties) in the preparation and making of such filings and furnish all information in such Party’s possession that is necessary in connection with such other Party’s (or Parties’) filings, (iii) use Commercially Reasonable Efforts to cause the expiration of the applicable notice or waiting periods under the HSR Act and any other Laws with respect to the transactions contemplated by this Agreement as promptly as is reasonably practicable, (iv) promptly inform the other Party (or Parties) of the content and status of any material communication from or to, and any proposed understanding or agreement with, any Governmental Authority in respect of such filings, and permit the other Party (or Parties) to review and discuss in advance, and consider in good faith the views of the other Party (or Parties) regarding, any proposed communication by such Party to any Governmental Authority, (v) consult, cooperate and discuss with the other Party (or Parties), and consider in good faith the views of the other Party (or Parties), in connection with any analyses, appearances, presentations, memoranda, briefs, arguments, proposals and opinions to be made or submitted by or on behalf of any Party in connection with all meetings, discussions, actions and proceedings with Governmental Authorities relating to such filings, (vi) comply, as promptly as reasonably practicable, with any requests received by such Party or any of its Affiliates under the HSR Act and any other Laws for additional information, documents or other materials, (vii) request confidential treatment of any such filings, and (viii) cooperate in good faith with all Governmental Authorities and not take any action that could reasonably be expected to adversely affect the approval of any Governmental Authority of any of the aforementioned filings. Buyer, on the one hand, and Sellers, on the other hand, shall each pay one-half of all applicable filing fees in connection with filings to be made and actions taken under the HSR Act; provided, however, each Party shall bear its own fees and expenses incurred as a result of any investigation or Litigation initiated by the Department of Justice Antitrust Division or the Federal Trade Commission. No Party shall agree to participate in any meeting or discussion with any Governmental Authority in respect of any filings, investigation or other inquiry, or enter into any understanding or agreement with any Governmental Authority, unless it consults with the other Party (or Parties) in advance, and considers in good faith the views of the other Party (or Parties), and, to the extent permitted by such Governmental Authority, gives the other Party (or Parties) the opportunity to attend and participate at such meeting or discussion. Subject to the Confidentiality Agreement and Section 6.3, the Parties will provide each other with copies of all correspondence, filings or communications between them or any of their Representatives, on the one hand, and any Governmental Authority or

members of its staff, on the other hand, with respect to this Agreement and the transactions contemplated hereby, except for documents filed pursuant to Item 4(c) and Item 4(d) of the HSR Notification and Report Form or communications regarding the same, documents or information that reveal any Party’s negotiating objectives, strategies or purchase price expectations or a Party’s communications containing information covered by the attorney-client, work product or other privilege or confidentiality concern, unless the Parties enter into a mutually acceptable joint defense agreement.

(c)

Notwithstanding the foregoing, neither Buyer nor Sellers or any of their respective Affiliates shall be required to take any of the following actions: (i) effect the dissolution of, or have vacated, lifted, reversed or overturned, any Law, Order, Litigation or proceeding that would enjoin, restrain, prevent, prohibit, restrict, delay or make illegal the consummation of the transactions contemplated hereby, (ii) propose, offer, negotiate, commit to or effect, by consent decree, a hold separate order or otherwise, the sale, divestiture, license or other disposition of any and all of the capital stock, assets, properties, rights, products, leases, businesses, services or other operations or interests therein of any Acquired Company or Buyer or their respective Affiliates, (iii) otherwise take or commit to take actions that after the Closing Date would limit Buyer’s freedom of action with respect to, or Buyer’s ability to retain, one or more of the assets, properties, rights, products, leases, businesses, services or other operations of any Acquired Company, Buyer or their respective Affiliates or any interest or interests therein, or (iv) contest, defend or appeal any threatened or pending preliminary or permanent injunction or other Law, Order, Litigation or proceeding that would adversely affect the ability of any Party to consummate the transactions contemplated hereby or taking any and all other actions to prevent the entry, enactment or promulgation thereof.


6.5	Indemnification of Officers and Directors.

(a)

For a period of six (6) years from and after the Closing, to the extent not prohibited by applicable Law, Buyer shall cause the Acquired Companies to continue to honor their obligations (as set forth in their respective Organizational Documents as of the Execution Date) with respect to the exculpation and indemnification of, and the advancement of expenses to, any current or former officers, managers, partners, members or directors of the Acquired Companies as of the Closing Date (collectively, the “Covered Persons”) arising or resulting from any actions or omissions of the Covered Persons on or prior to the Closing Date in accordance with the terms of the respective Organizational Documents, it being understood that the consummation of the transactions contemplated by this Agreement shall not modify such rights.


(b)	In the event an Acquired Company or any of its successors or assigns consolidates or merges into any other Person and shall not be the continuing or surviving company or entity of such consolidation or merger or converts into any other Person or transfers all or substantially all of its assets to any Person, then, and in

each such case, Buyer shall cause such Acquired Company to make proper provision so that the successors and assigns of such Acquired Company shall assume the obligations set forth in this Section 6.5.

(c)

The obligations under this Section 6.5 from and after the Closing Date shall not be terminated or modified in such a manner as to adversely affect any of the Covered Persons without the consent of such Person (it being expressly agreed that each of the Covered Persons is intended to be a third party beneficiary of this Section 6.5 with full rights of enforcement as if a party hereto). The rights of each Covered Person hereunder shall be in addition to any other rights the Covered Persons may have under the Organizational Documents of the Acquired Companies, under any and all indemnification agreements of or entered into by the Acquired Companies, or applicable Law (whether at law or in equity).


6.6	Update Information.

From the Execution Date until two (2) Business Days prior to the Closing Date, if Sellers have Knowledge of any matter or matters first occurring after the Execution Date that the Sellers believe, individually or in the aggregate, cause the conditions to Closing set forth in Section 8.2(b) or Section 8.2(d) to fail to be satisfied, then Sellers’ Representative shall notify Buyer in writing of such matter or matters (including by providing amendments to the Disclosure Schedules), along with written acknowledgment from Sellers’ Representative that such matter or matters would cause the conditions to Closing set forth in Section 8.2(b) or Section 8.2(d) to fail to be satisfied (each, a “DS Update”), in which case Buyer shall have the right to terminate this Agreement pursuant to Section 10.1(e), or (subject to the satisfaction (or waiver) of the other conditions set forth in Sections 8.1 and 8.2) proceed with the Closing. For avoidance of doubt, Sellers shall not be permitted to provide a DS Update with regard to any matter other than any matter occurring after the date hereof that Sellers’ Representative acknowledges in writing, individually or in the aggregate, causes the condition set forth in Section 8.2(b) or Section 8.2(d) to fail to be satisfied. If Buyer does not exercise such termination right within five (5) Business Days after receipt of such notice from Sellers’ Representative, then such DS Update shall be deemed for all purposes under this Agreement, including for purposes of determining whether the conditions to Closing set forth in Section 8.2(b) and Section 8.2(d) have been satisfied, to have amended the Disclosure Schedules as of the Execution Date and to have cured any misrepresentation or breach of representation, warranty or covenant that otherwise would have existed hereunder by reason of any facts, events, circumstances or occurrences disclosed in such DS Update; provided, that if Sellers’ Representative provides Buyer with a DS Update within two (2) Business Day prior to the Closing, then the Closing Date shall be automatically extended by three (3) Business Days in order for Buyer to make a determination as to whether it desires to exercise its termination right hereof.


6.7	R&W Insurance Policy.

The Parties acknowledge that obtaining the R&W Insurance Policy is a material inducement to each of the Parties’ entering into the transactions contemplated by this

Agreement. Notwithstanding the foregoing, for the avoidance of doubt, Buyer acknowledges and agrees that obtaining the R&W Insurance Policy is not a condition to the Closing, and Buyer shall remain obligated, subject only to the satisfaction or waiver of the conditions set forth in Article VIII, to consummate the transactions contemplated by this Agreement regardless of whether the R&W Insurance Policy becomes effective. From and after the Execution Date, Buyer shall use Commercially Reasonable Efforts to fully comply with the R&W Conditional Binder such that the R&W Insurance Policy will become effective as of the Execution Date.


6.8	Removal of Trade Names.

(a)

As soon as practicable following the Closing, but in no event later than sixty (60) days after Closing, Buyer shall, and shall cause the Acquired Companies to, cease and permanently discontinue any and all uses of the names “EIF”, “WGL” and “Vega” and any trade name, trademark, service mark, logo or internet domain comprising the foregoing, and all derivatives and formulations thereof as used by Sellers and the Acquired Companies in connection with the conduct of the Business (“Seller Names and Marks”) and any colorable imitations thereof, and remove or cover all Seller Names and Marks from, or destroy, any publications, signage, corporate letterhead, invoices, stationery, business cards, marketing materials, website content or other materials in any Acquired Company’s possession or under any Acquired Company’s control bearing any of the Seller Names and Marks, and upon written request by any Seller, provide such Seller with written confirmation thereof.

(b)

In no event shall Buyer or any of its Affiliates use any of the Seller Names and Marks after the Closing in any manner or for any purpose different from the use of such Seller Names and Marks by the Acquired Companies preceding the Closing, and neither Buyer nor any of its Affiliates shall affix any of the Seller Names and Marks or any colorable imitations thereof on any publications, signage, corporate letterhead, invoices, stationery, business cards, marketing materials, website content or other materials that are created or produced after the Closing.


(c)	Buyer expressly acknowledges and confirms that Buyer shall not receive any right, title or interest in or to the Seller Names and Marks, except the limited right to use Seller Names and Marks as provided above for the sole purpose of permitting Buyer to complete the phase out of such use in strict compliance with this Section 6.8.


6.9	Further Assurances.

Subject to the terms and conditions of this Agreement, at any time or from time to time after the Closing, at the request of any Party, and without further consideration, the other Party (or Parties) shall execute and deliver to the requesting Party such other instruments of sale, transfer, conveyance, assignment and confirmation and provide such materials and information and take such other actions and execute and deliver such other

documents as the requesting Party may reasonably request in order to consummate and make effective the transactions contemplated by this Agreement.


6.10	Termination of Tax Sharing Agreements.

Sellers shall terminate, or cause to be terminated, any and all Tax sharing, ‎allocation, indemnity or similar agreements (other than any such agreements that were entered into in the ordinary course of business, the primary purpose of which is not Taxes) between ‎any of the Acquired Companies, on the one hand, and any other ‎Person (other than an Acquired Company), on the other hand, prior ‎to the Closing so that, from and after the Closing, no Acquired Company shall be bound by or obligated to make any payment pursuant to ‎any such agreement.‎


6.11	Exclusivity.


(a)	From the Execution Date until the earlier of the Closing Date or the earlier termination of this Agreement pursuant to Article X, each Seller agrees not to, and to direct or cause its Affiliates, the Acquired Companies and their respective Representatives not to, directly or indirectly, take any of the following actions:

(i)

initiate, solicit, encourage, consider or accept in any way any inquiry, offer or proposal from, or submit any proposal to, any Person or group of Persons other than Buyer, its Affiliates and any of its and their respective Representatives relating to (A) the sale, purchase, acquisition, disposition, lease or exchange (whether by transfer, merger, consolidation or other means) of (1) all or a portion of such Seller’s direct or indirect ownership interest in any applicable Acquired Company, including the Acquired Interests, or (2) any other equity interests in or the assets of any applicable Acquired Company to any Person or group of Persons other than Buyer or any of its Affiliates; (B) the issuance or acquisition of any shares of capital stock or other equity securities in the Acquired Companies; (C) any financing transaction of any kind, other than routine lending arrangements in the ordinary course of the applicable Acquired Companies’ business consistent with past practice; (D) any merger, consolidation, restructuring, recapitalization, equity exchange, liquidation, dissolution or similar transaction involving any Acquired Company; or (E) any other transaction that would require Sellers to abandon the transactions contemplated by this Agreement (each, an “Acquisition Proposal”);


(ii)	participate in any negotiations or discussions with, or furnish any assistance or non-public information to, any Person or group of Persons other than Buyer and its Representatives regarding any Acquisition Proposal; or


(iii)	enter into any agreement or understanding, whether oral or in writing, to effect an Acquisition Proposal.

(b)

In addition to the other obligations under this Section 6.11, each Seller shall, as promptly as practicable, advise Buyer orally (in any event, within one (1) Business Day) and in writing (in any event, within three (3) Business Days) after receipt by such Seller of any written Acquisition Proposal, the material terms and conditions of such written Acquisition Proposal and the identity of the Person making the same. Each Seller agrees that the rights and remedies for noncompliance with this Section 6.11 shall include having such provision specifically enforced by any court having equity jurisdiction, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to Buyer and its Affiliates and that money damages would not provide an adequate remedy to Buyer and its Affiliates.

(c)

Subject to compliance with Section 6.1, the Parties agree that nothing in this Section 6.11 will limit or restrict (i) any Seller or any of its Affiliates from engaging in the ordinary course of business for the Acquired Companies consistent with past practices (which may include dealing with financing parties in connection with the EIF Meade Credit Facility or with the Operator in matters unrelated to an Acquisition Proposal) or (ii) any Seller’s or any of its Affiliates’ discussions with its Representatives.


6.12	Records.

To the extent not already in the possession of the Acquired Companies as of the Closing, each Seller shall, and shall cause any of their respective Affiliates or Representatives to, make available to Buyer promptly following Closing, originals or, to the extent not available, copies of all of the Records in its possession.


6.13	Financing Cooperation.

Prior to the Closing, each Seller shall cause the applicable Acquired Companies of such Seller and shall use Commercially Reasonable Efforts to cause its and their respective Representatives, including legal and accounting advisors, to provide Buyer with commercially reasonable cooperation in connection with the arrangement of the Debt Financing as may be reasonably requested by Buyer and that is customary in connection with a financing comparable to the Debt Financing, including using Commercially Reasonable Efforts in: (a) providing relevant information to assist Buyer and the Financing Sources with the preparation of materials for rating agency presentations and lender presentations relating to the Debt Financing (including with respect to presence or absence of material non-public information and the accuracy of the information contained therein); (b) providing and delivering documents in the possession of such Seller or any applicable Acquired Company of such Seller; (c) requesting and making reasonable efforts to obtain from the Operator and provide to Buyer such documents otherwise available to such Seller or applicable Acquired Company pursuant to the terms of the C&O Agreements or the O&M Agreement (provided that the Parties acknowledge and agree that except as otherwise provided under the C&O Agreements and the O&M Agreement, the Operator is under no express obligation to provide any such information); or (d) executing any documents as may be reasonably requested by Buyer and reasonably

necessary in connection with the Debt Financing with respect to documentation and other information required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the Patriot Act; and (e) furnishing Buyer and the Financing Sources identified by Buyer as promptly as reasonably practicable with financial, business, and other pertinent information regarding the applicable Acquired Companies of such Seller as may be reasonably requested by Buyer and reasonably necessary in connection with the Debt Financing (including as promptly as practicable but in no event later than sixty (60) days after the end of the applicable quarter, the unaudited balance sheets and related statements of income and cash flows of the applicable Acquired Companies of such Seller for each subsequent fiscal quarter (or year to date period) after June 30, 2019). Each Seller hereby consents to the use of its and the applicable Acquired Companies of such Seller’s logos in connection with the Debt Financing; provided that such logos are used in a manner that is not intended to nor reasonably likely to harm or disparage any Seller or any Acquired Company. No Seller shall be required to take any action that would result in any liability or obligation of an applicable Acquired Company of such Seller prior to the Closing, or any further liability or obligation of such Seller. Notwithstanding anything herein to the contrary, Buyer’s failure to obtain the Debt Financing shall not relieve Buyer of its obligation to consummate the transactions contemplated by this Agreement whether or not the Debt Financing is available. Buyer shall reimburse each Seller for such Seller’s reasonable, documented out of pocket expenses actually incurred by such Seller in complying with this Section 6.13. In no event shall any Seller, any of the applicable Acquired Companies of such Seller or any of its or their respective Representatives have any liability to Buyer or any other Person (including any Financing Source) under this Section 6.13 except to the extent of their gross negligence or willful misconduct or Fraud, and Buyer hereby releases and agrees to defend, indemnify and hold harmless each Seller, the applicable Acquired Companies of such Seller and each of its and their respective Representatives from any and all such liability.

ARTICLE VII.

TAX MATTERS


7.1	Tax Returns; General Provisions.

Except with respect to Taxes subject to Section 7.3:

(a)

The applicable Sellers shall prepare Tax Returns of or with respect to the Acquired Companies required to be filed after the Closing Date for all taxable periods ending on or prior to the Closing Date (each such period a “Pre-Closing Tax Period”) on a basis consistent with past practice, except to the extent otherwise required by Law. ‎Reasonably in advance of the filing date for any such Tax Return (which in the case of a Tax Return that ‎relates to income Taxes, shall not be later than thirty (30) days prior to such filing), the applicable Sellers shall deliver a copy of such Tax Return, together with all supporting ‎documentation and work papers, to Buyer for review and reasonable comment. The applicable Sellers shall consider in good faith any comments on such Tax Returns, and Buyer and Sellers’ Representative shall work to come to an agreement on any

disputed items. ‎Buyer will cause such Tax Return to be timely filed and the payment of Taxes timely paid to the ‎appropriate Tax Authority and will provide a copy to Sellers’ Representative. Subject to Section 9.5(b)(i), not later than five (5) days ‎prior to the due date for the payment of Taxes shown as due on each Tax Return for a Pre-Closing Tax ‎Period, Buyer and Sellers’ Representative shall submit a Joint Direction to the Escrow Agent to release to (or at the direction of) Buyer by wire transfer of immediately available funds from the Indemnity Escrow Account the amount of such Taxes shown as due on the applicable Tax Return, taking into account any estimated Tax payments made by the Acquired Companies to the relevant Tax Authority on or before the Closing Date for any such period.

(b)

Buyer shall prepare all Tax Returns of or with respect to the Acquired Companies covering taxable periods beginning on or before the Closing Date and ending after the Closing Date (each a “Straddle Period”) on a basis consistent with past practice, except to the extent otherwise required by Law. Reasonably in advance of filing any such Tax Return (which in the case of a Tax Return that ‎relates to income Taxes, shall not be later than thirty (30) days prior to such filing), Buyer shall ‎deliver a copy of such Tax Return, together with all supporting documentation and workpapers, ‎to Sellers’ Representative for Sellers’ review and reasonable comment. Buyer shall consider in good faith any comments on such Tax Returns, and Buyer and Sellers’ Representative shall work to come to an agreement on any disputed items. Buyer shall cause each such Tax ‎Return to be filed timely and payment of Taxes to be timely paid with the appropriate Tax ‎Authority and will provide a copy thereof to Sellers’ Representative. Subject to Section 9.5(b)(i), not later than five (5) ‎days prior to the due date for the payment of Taxes with respect to each Tax Return for a ‎Straddle Period, Buyer and Sellers’ Representative shall submit a Joint Direction to the Escrow Agent to release to (or at the direction of) Buyer by wire transfer of immediately available funds from the Indemnity Escrow Account the amount of such Taxes which are apportioned to the period ending on the Closing Date in accordance with this Agreement shown as due on such Tax Return, taking into account any estimated Tax payments made by the Acquired Companies to the relevant Taxing Authority on or before the Closing Date for any such period‎.

(c)

For purposes of this Agreement, in the case of any Straddle Period, the amount of any Taxes of the Acquired Companies apportioned to the portion of the Straddle Period ending on the Closing Date (the “Interim Tax Period”) shall be (i) with respect to Taxes other than income Taxes, sales and use Taxes, withholding Taxes and value added Taxes, the amount of such Taxes for the entire Straddle Period multiplied by a fraction, the numerator of which is the number of days in such Interim Tax Period and the denominator of which is the number of days in such Straddle Period, and (ii) with respect to income Taxes, sales and use Taxes, withholding Taxes and value added Taxes, the amount of Taxes that would be due with respect to the Interim Tax Period as if such Interim Tax Period were a separate taxable period (that is, shall be determined based on an interim closing of the books as of the end of the day on the Closing Date, and for such purposes, the

taxable period of any partnership, controlled foreign corporation or other pass-through entity in which an Acquired Company holds a beneficial interest will be deemed to terminate at such time); provided, however, that (A) any item determined on an annual or periodic basis (such as deductions for depreciation or real estate Taxes) shall be apportioned on a daily basis, and (B) no portion of any Taxes attributable to any transaction undertaken by an Acquired Company outside of the ordinary course of business (other than transactions contemplated by this Agreement or directed by Sellers prior to Closing) occurring after the Closing on the Closing Date shall be apportioned to the Interim Tax Period.

(d)

To the extent an election under Section 754 of Code is not already in ‎effect for the Company or EIF Vega and its taxable year ends on the Closing Date, the applicable Sellers shall cause the Company or EIF Vega, as the case may be, to make the election under Code ‎Section 754 in accordance with Treasury Regulation Section 1.754-1(b) to be ‎effective for the taxable period of the Company or EIF Vega, as the case may be, that includes the Closing Date‎.

(e)

Neither Party shall amend or re-file, or cause or permit any of the Acquired Companies to amend or re-file, or request or agree to any waiver or extension of the ‎statute of limitations or any period for the assessment or collection of any Tax for any period relating to any Pre-Closing Tax Period or Straddle Period without the prior written consent of the other Party, which consent shall not be unreasonably withheld, conditioned or delayed.


7.2	Cooperation.

Buyer and the applicable Sellers shall cooperate fully, and Buyer shall cause the Acquired Companies to cooperate fully, as and to the extent reasonably requested by the other Party (or Parties), in connection with the preparation and filing of Tax Returns pursuant to this Article VII and any audit, litigation or other proceeding (each, a “Tax Proceeding”) with respect to such Tax Returns and Taxes related to such Tax Returns. Such cooperation shall include access to, the retention and (upon the other Party’s (or Parties’) request) the provision of records and information that are reasonably relevant to any such Tax Return or Tax Proceeding, and the making available of employees on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. Buyer and Sellers further agree, upon request, to use Commercially Reasonable Efforts to obtain any certificate or other document from any Tax Authority or any other Person as may be necessary to mitigate, reduce or eliminate any Tax that could be imposed (including with respect to the transactions contemplated by this Agreement).


7.3	Transfer Taxes.


(a)	Subject to Section 9.5(b)(ii)‎, Sellers shall be responsible for and pay all transfer, sales, use, stamp, registration or other similar Taxes, if any, including, for the avoidance of doubt, (i) any Pennsylvania Realty Transfer Taxes or other Taxes imposed under 61 PA Code Chapter 91 (“PA Taxes”), resulting from the

transactions contemplated by this Agreement and (ii) any PA Taxes imposed upon the transfer of the Pipeline Interests by Operator to Buyer occurring after the Closing (collectively, “Transfer Taxes”). Buyer and Sellers shall cooperate in good faith to minimize, to the extent permissible under applicable Law, the amount of any such Transfer Taxes. Subject to Section 7.3(c), Sellers’ Representative shall prepare Tax Returns, if any, for or with respect to Transfer Taxes, including any amendments thereto (“Transfer Tax Returns”). No later than five (5) Business Days prior to the due date (including extensions) of any ‎Transfer Tax Return to be filed hereunder (including, for the avoidance of doubt, any PA Transfer Tax Return), Sellers’ Representative shall ‎deliver a copy of any such Transfer Tax Return, together with all supporting ‎‎‎documentation and work papers, to Buyer for review and reasonable ‎comment. Sellers’ Representative shall consider in good faith any such comments‎. Prior to Closing, Sellers’ Representative shall deliver signed PA Transfer Tax ‎Returns to Morgan, Lewis & Bockius LLP, as escrow agent under the Transfer Documents Escrow Agreement, for filing in ‎connection with the recording of the Transfer Documents.‎

(b)

At the Closing, a portion of the Purchase Price shall be paid to the Title Company in the aggregate amount of the Transfer Taxes shown as due on each PA Transfer Tax Return (collectively, the “Filed PA Transfer Tax Returns”) and the amount of all recording fees, to be held in escrow until such Transfer Taxes and recording fees are paid to the Department and/or ‎‎the relevant county recorder of deeds in connection with the recording of the Transfer Documents (such amount, the “Closing Transfer Tax Amount”) in accordance with Section 2.2(d)(ii). Buyer shall arrange with the Title Company for the payment of all such Transfer Taxes and recording fees from the Closing Transfer Tax Amount.

(c)

Prior to the Closing Date, Sellers shall obtain the PA Transfer Tax Opinion specified in Section 8.2(f). The fees and expenses incurred in obtaining the‎ PA Transfer Tax Opinion shall ‎be ‎borne by Buyer subject to the Maximum Transfer Taxes Legal Fees Amount‎.‎ The Filed PA Transfer Tax Returns shall be prepared in a manner consistent with ‎the PA Transfer Tax Opinion. Any PA Transfer Tax Return with respect to any ‎property for which an exemption from PA Taxes is being claimed shall include ‎specific reference to the applicable exemption claimed on such Filed PA Transfer ‎Tax Return.‎

(d)

Sellers’ Representative shall seek a Transfer Tax letter ruling from the ‎Pennsylvania Department of ‎Revenue (the “Department”) addressing that (i) the portion of the Pipeline Interests constituting mains and equipment will not be treated as taxable “real estate” for purposes of the PA Taxes and (ii) the portion of the Pipeline Interests constituting easements and rights-of-way will be treated as easements granted to a person furnishing public utility service, for use in, or useful for, furnishing public utility services, and the assignment of such easements and rights-of-way will be treated as an excluded transaction for purposes of the PA Taxes (a “Realty Transfer Tax ‎Ruling”). ‎ The request for the Realty Transfer Tax Ruling shall include the fact that the ‎Company leases its ‎rights in the Pipeline Interests to Operator and Operator utilizes such Pipeline

Interests in the provision of transportation and public utility services.‎ Prior to filing a request for a Realty Transfer Tax Ruling, Sellers’ ‎Representative ‎shall provide Buyer with a draft of such Realty Transfer Tax Ruling request for Buyer’s ‎‎review and reasonable comment. Sellers’ Representative shall consider in good faith any ‎such comments‎, and shall incorporate Buyer’s reasonable comments involving the accuracy of the facts and representations included in the ruling request.‎ The fees and expenses incurred in seeking the‎ Realty Transfer Tax Ruling shall ‎be ‎borne by Buyer subject to the Maximum Transfer Taxes Legal Fees Amount‎‎.‎

(e)

If, upon receipt of a Realty Transfer Tax Ruling, such Realty Transfer Tax Ruling supports a refund of a portion of the PA Taxes liability reported on the Filed PA Transfer Tax Returns, Sellers’ Representative shall prepare and Buyer shall file amended Transfer Tax Returns or any other any supplemental filings necessary to request a refund of the excess PA Taxes paid. Any such refund shall be for the account of the Sellers and shall be paid to Sellers Representative by the Company within five (5) Business Days of receipt such refund.


(f)	Transfer Tax Escrow Release.

(i)

If, upon receipt of a Realty Transfer Tax Ruling, such Realty Transfer Tax Ruling supports the Transfer Taxes liability reported on the Filed PA Transfer Tax Returns, then Sellers shall be entitled to receive, by wire transfer of immediately available funds from the Transfer Tax Escrow Account in accordance with instructions delivered by Sellers’ Representative in accordance with the terms of the Transfer Tax Escrow Agreement, an amount equal to the amount, if any, by which the remaining Transfer Tax Escrow Funds exceed Two Million Dollars ($2,000,000).

(ii)

If, upon receipt of a Realty Transfer Tax Ruling, such Realty Transfer Tax Ruling supports a refund of a portion of the Transfer Taxes liability reported on the Filed PA Transfer Tax Returns, then Sellers shall be entitled to receive, by wire transfer of immediately available funds from the Transfer Tax Escrow Account in accordance with instructions delivered by Sellers’ Representative in accordance with the terms of the Transfer Tax Escrow Agreement, an amount equal to the amount, if any, by which the remaining Transfer Tax Escrow Funds exceed Two Million Dollars ($2,000,000).

(iii)

If, upon receipt of a Realty Transfer Tax Ruling, such Realty Transfer Tax Ruling requires the payment of an amount of Transfer Taxes greater than the amount of Transfer Taxes reported on the Filed PA Transfer Tax Returns, then Buyer and Sellers’ Representative shall submit a Joint Direction to the ‎Escrow Agent to release to Buyer for payment to the Department and/or ‎the relevant county recorder of deeds, by wire transfer of immediately ‎available funds from the Transfer Tax Escrow Account an

amount equal to ‎the amount by which the amount that the Transfer Taxes required to be ‎paid pursuant to the Realty Transfer Tax Ruling exceeds the amount of ‎Transfer Taxes paid by the Sellers pursuant to the Filed PA Transfer Tax ‎Returns, and thereafter‎ Sellers shall be entitled to receive, by wire transfer of immediately available funds from the Transfer Tax Escrow Account in accordance with instructions delivered by Sellers’ Representative in accordance with the terms of the Transfer Tax Escrow Agreement, an amount equal to the amount, if any, by which the remaining Transfer Tax Escrow Funds ‎(after the disbursement contemplated immediately above)‎ exceed Two Million Dollars ($2,000,000).


(iv)	The remaining amount held in the Transfer Tax Escrow Account will continue to be held and disbursed by the Escrow Agent pursuant to the terms of the Transfer Tax Escrow Agreement and subject to Section 9.5(b)(ii).

(g)

If the Realty Transfer Tax Ruling or a Tax Proceeding requires determination of the relative values of each of the Pipeline Interests for purposes of ‎allocating Transfer Taxes among the Pipeline Interests (the “Transfer ‎Tax ‎Valuation”), then Buyer and Sellers’ Representative shall attempt in good faith to agree upon the Transfer Tax Valuation. If Buyer and Sellers’ Representative are unable to reach such agreement within fifteen (15) days after receipt of the Realty Transfer Tax Ruling or notice of the Tax Proceeding, then Buyer and Sellers’ Representative ‎shall jointly engage Duff & Phelps or another firm with no prior material relationship with Buyer, Sellers or their respective Affiliates that is mutually agreed upon by Buyer and Sellers’ Representative (the “Transfer Tax Valuation Firm”) to ‎determine the Transfer Tax Valuation, and in ‎connection with such engagement, Buyer and Sellers’ ‎Representative ‎shall provide all information and documentation requested by the ‎Transfer Tax Valuation Firm. ‎The Transfer Tax Valuation shall be binding on the ‎Parties. The fees and expenses of the‎ Transfer Tax Valuation Firm shall ‎be ‎borne one-half by Sellers and one-half by Buyer‎.‎

(h)

Buyer shall provide Sellers’ Representative with written notice of any inquiries, audits, examinations or proposed adjustments by the IRS or any other Tax Authority, which relate to any Transfer Taxes. Sellers shall have the sole right to represent the interests of the Acquired Companies in any Tax Proceeding relating to any Transfer Taxes, and to take any actions in connection with such Tax Proceeding; provided, that without Buyer’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed), Sellers shall not settle any Tax ‎Proceeding relating to Transfer Taxes that would cause the Company or Buyer to ‎incur a liability for Transfer Taxes in excess of the then-current Transfer Tax ‎Escrow Funds. Buyer shall have the right to participate in, but not direct, the prosecution or defense of such Tax Proceeding at Buyer’s sole expense.


7.4	Tax Proceedings.

Except with respect to Taxes subject to Section 7.3, after the Closing:

(a)


(b)	Sellers shall not settle any Tax Proceeding (i) with respect to a Straddle Period or (ii) the settlement of which could reasonably be expected to have an effect on any other Tax period ending after the Closing Date, without the written consent of Buyer (which consent shall not be unreasonably withheld, conditioned or delayed).


(c)	Buyer shall have the right to control all other Tax Proceedings of the Acquired Companies. Buyer shall obtain the written consent of the applicable Sellers (which consent shall not be unreasonably withheld, conditioned or delayed) prior to the settlement of any such Tax Proceeding that could reasonably be expected to have an effect on a Pre-Closing Tax Period.


7.5	Tax Classification; Purchase Price Allocations.

(a)

The Parties agree that the transactions contemplated hereby will be treated for U.S. federal income Tax purposes as (i) a purchase of assets by Buyer and (ii) a sale of a partnership interest by each of EIF, VED II, VED I, WGLM and COG ‎ as provided in Revenue Ruling 99-6, 1999-1 C.B. 432 (Situation 2)‎. The Parties agree not to take any position on any Tax Return or in any administrative ‎or judicial proceeding relating to the Tax reporting of the transactions under this Agreement that ‎is inconsistent with this Section 7.5(a) for U.S. federal income Tax purposes‎ unless otherwise required by a change in law occurring after the Execution Date, a closing agreement with an applicable Tax Authority or a final Order of a court of competent jurisdiction.

(b)

The Purchase Price (as adjusted pursuant to Section 9.7) and other relevant items for Tax purposes shall be allocated among Sellers in accordance with the Base Purchase Price Allocation set forth in Exhibit E. In addition, the Purchase Price shall be allocated among the assets of the Acquired Companies such that, following determination of the Final Purchase Price, (i) the sum of Company Net Working Capital, EIF Meade Net Working Capital and EIF Vega Net Working Capital shall be allocated to Class I and Class II, and (ii) any remaining value shall be allocated to Class III, in each case based on the determination of such

classes in accordance with the principles set forth in Section 1060 of the Code and the U.S. Treasury Regulations promulgated thereunder.

ARTICLE VIII.

CONDITIONS TO OBLIGATIONS


8.1	Conditions to the Obligations of the Parties.

The obligations of each Seller and Buyer to consummate the transactions contemplated by this Agreement are subject to the satisfaction of the following conditions, any one or more of which may be waived in writing by all of the Parties:

(a)

No Governmental Authority shall have enacted, issued, promulgated, enforced, or entered any Order or Law which is in effect and has the effect of making the transactions contemplated by this Agreement illegal or otherwise restraining or prohibiting consummation of such transactions or causing any of the transactions contemplated hereunder to be rescinded following completion thereof, and no action shall have been commenced by any Governmental Authority for the purpose of obtaining any such Order, and no written notice shall have been received from any Governmental Authority indicating an intent to restrain, prevent, materially delay, or restructure the transactions contemplated hereunder; and


(b)	All applicable waiting periods (and any extensions thereof) under the HSR Act and other applicable Laws shall have expired or been terminated.


8.2	Conditions to Obligations of Buyer.

The obligation of Buyer to consummate the transactions contemplated by this Agreement is subject to the satisfaction of the following conditions, any one or more of which may be waived in writing by Buyer:


(a)	Each Seller or Sellers’ Representative, on behalf of Sellers, as applicable, shall have delivered (or shall be ready, willing and able to deliver) to Buyer all agreements, instruments and documents required to be delivered by such Seller pursuant to Section 2.4(b);

(b)

Each of (i) the representations and warranties made by each Seller in Article III and by Sellers in Article IV (other than the Seller Fundamental Representations) (without regard to any Material Adverse Effect or materiality qualifications set forth in any such representations and warranties) shall be true, correct and complete as of the Closing Date as though made at and as of such time (other than representations and warranties that speak as of another specific date or time (including, for the avoidance of doubt, any representation or warranty specified herein as being made as of or through the Execution Date), which need only be true, correct and complete as of such date or time), except to the extent that any and all failures of such representations and warranties to be so true, correct and complete as of the Closing Date, taken as a whole, would not have a Material

Adverse Effect, and (ii) the Seller Fundamental Representations shall be true, correct and complete in all respects as of the Closing Date as though made at and as of such time (other than representations and warranties that speak as of another specific date or time (including, for the avoidance of doubt, any representation or warranty specified herein as being made as of or through the Execution Date), which need only be true, correct and complete as of such date or time);


(c)	Each Seller shall have performed or complied, in all material respects, with all of the covenants and agreements required by this Agreement to be performed or complied with by such Seller at or before the Closing;


(d)	No Material Adverse Effect shall have occurred since the Financial Statement Date and be continuing;


(e)	Sellers’ Representative shall have delivered to Buyer a duly executed certificate dated as of the Closing Date, representing that the conditions specified in Section 8.2(b), Section 8.2(c) and Section 8.2(d) have been fulfilled with respect to each Seller;

(f)

Sellers’ ‎Representative shall have delivered a written Tax ‎or legal opinion of Reed Smith LLP (a “PA Transfer Tax Opinion”) stating that the ‎applicable Tax Authority is more likely than not to respect the positions taken on the PA Transfer Tax Returns‎ that Seller Representative proposes to have filed by the Company regarding (A) the portion of the Pipeline Interests constituting mains and equipment that will not be treated as taxable “real estate” for purposes of the PA Taxes and (B) the portion of the Pipeline Interests constituting easements and rights-of-way will be treated as easements granted to a person furnishing public utility service, for use in, or useful for, furnishing public utility services, and the assignment of such easements and rights-of-way will be treated as an excluded transaction for purposes of the PA Taxes‎, and with respect to each of the analysis on each of the issues described in clauses ‎‎(A) and (B), the PA Transfer Tax Opinion shall consider the fact that the ‎Company leases its ‎rights in the Pipeline Interests to Operator and Operator utilizes such Pipeline Interests in the provision of transportation and public utility services; and

(g)

(i) the Transfer Documents Escrow Agreement shall be in full force and effect, (ii) no proceeding or action shall have been commenced by any Acquired Company, any Seller or any Affiliate of any Seller seeking to invalidate the Transfer Documents Escrow Agreement, and (iii) the Company shall not have asserted in writing that the Transfer Documents Escrow Agreement or any provisions thereof are invalid, not binding or in any manner unenforceable.


8.3	Conditions to the Obligations of Sellers.

The obligation of each Seller to consummate the transactions contemplated by this Agreement is subject to the satisfaction of the following conditions, any one or more of which may be waived in writing by such Seller:


(a)	Buyer shall have delivered (or shall be ready, willing and able to deliver) to Sellers’ Representative all agreements, instruments and documents required to be delivered by Buyer pursuant to Section 2.4(c);

(b)

Each of (i) the representations and warranties made by Buyer in Article V (other than Buyer Fundamental Representations) (without regard to any material adverse effect or materiality qualifications set forth in any such representations and warranties) shall be true, correct and complete in all material respects as of the Closing Date as though made at and as of such time (other than representations and warranties that speak as of another specific date or time (including, for the avoidance of doubt, any representation or warranty specified herein as being made as of or through the Execution Date), which need only be true, correct and complete as of such date or time), except to the extent that any and all failures of such representations and warranties to be so true, correct and complete as of the Closing Date, taken as a whole, would not have a material adverse effect on Buyer’s ability to perform its obligations hereunder or to consummate the transactions contemplated hereby, and (ii) the Buyer Fundamental Representations shall be true, correct and complete in all respects as of the Closing Date as though made at and as of such time (other than representations and warranties that speak as of another specific date or time (including, for the avoidance of doubt, any representation or warranty specified herein as being made as of or through the Execution Date), which need only be true, correct and complete as of such date or time);


(c)	Buyer shall have performed or complied, in all material respects, with all of the covenants and agreements required by this Agreement to be performed or complied with by Buyer on or before the Closing; and


(d)	Buyer shall have delivered to Sellers’ Representative a duly executed certificate dated as of the Closing Date, representing that the conditions specified in Section 8.3(b) and Section 8.3(c) have been fulfilled.

ARTICLE IX.

INDEMNIFICATION


9.1	Survival of Representations, Warranties and Covenants.


(a)	The representations and warranties of each Seller made in this Agreement (or in any certificate delivered in connection herewith) shall survive until the Closing Date, whereupon they shall expire as of the Closing; provided, however, notwithstanding anything in the foregoing to the contrary, claims based on Fraud shall survive indefinitely after the Closing Date.


(b)	The representations and warranties of Buyer made in this Agreement (or in any certificate delivered in connection herewith) shall survive the Closing for the applicable statute of limitations following the Closing Date.


(c)	All waivers, disclaimers and limitations of each Seller’s liability in this Agreement shall survive the Closing Date indefinitely.


(d)	All covenants and agreements of any Party set forth in this Agreement to be fully performed before the Closing Date shall survive until the Closing Date, whereupon they shall expire as of the Closing.

(e)

All covenants and agreements of any Party set forth in this Agreement other than those addressed in Section 9.1(d) shall survive the Closing Date until fully performed in accordance with their terms; provided, however, that any of the Parties’ respective covenants and agreements which contain express survival periods or contemplate future performance or obligations shall survive the Closing Date for the period provided in accordance with their express terms; provided, further, that:


(i)	Each of the covenants and agreements of Sellers in Section 7.3 and Sellers’ indemnification obligations under Section 9.2(a)(i) shall survive the Closing Date until the earlier to occur of the date that is forty-eight (48) months after the Closing Date and the date on which the Transfer Tax Escrow Funds are reduced to Zero Dollars ($0), whereupon such covenants and agreements shall expire;

(ii)

Each of the covenants and agreements of Sellers in this Agreement other than those in Section 7.3 and Section 2.3(d), and Sellers’ indemnification obligations under Section 9.2(a)(ii) and Section 9.2(a)(iii)(B), shall survive the Closing Date until the earlier to occur of the date that is eighteen (18) months after the Closing Date and the date on which the Indemnity Escrow Funds are reduced to Zero Dollars ($0), whereupon such covenants, agreements and obligations shall expire;


(iii)	Sellers’ indemnification obligations under Section 9.2(a)(iii)(A) shall survive the Closing Date until the earlier to occur of the date that is twenty-four (24) months after the Closing Date and the date on which the Indemnity Escrow Funds are reduced to Zero Dollars ($0), whereupon such obligations shall expire; and


(iv)	Each of the covenants and agreements of Sellers in Section 2.3(d) shall survive the Closing Date in accordance with Section 2.3(d), whereupon such covenants and agreements shall expire.

(f)

No Party shall have any liability for indemnification claims made under this Article IX with respect to any representation, warranty, covenant or agreement unless a written notice of such claim (describing in reasonable detail the claim, including an estimate of Losses attributable to such claim) is provided prior to the expiration of any applicable survival period for such representation, warranty, covenant or agreement (or associated indemnity claim) provided in this Section 9.1.


(g)	Notwithstanding anything to the contrary in this Agreement, the survival period set forth in this Section 9.1 shall not affect or otherwise limit any claim made or available under the R&W Insurance Policy.


9.2	Indemnification.

(a)

Subject to the provisions of this Agreement, including this Article IX, from and after the Closing, each Seller shall indemnify, defend and hold harmless Buyer, Buyer’s Affiliates (which includes, for the avoidance of doubt, the Acquired Companies from and after the Closing) and its and their respective Representatives (collectively, the “Buyer Indemnified Parties”) from and against all Losses that the Buyer Indemnified Parties incur arising from or out of:


(i)	any breach or failure to perform by such Seller of its obligation to pay Transfer Taxes pursuant to Section 7.3;


(ii)	any breach or failure to perform by such Seller of any covenant or obligation of such Seller in this Agreement other than (A) the obligation to pay Transfer Taxes pursuant to Section 7.3 and (B) any obligation under Section 2.3(d); and


(iii)	claims, causes of action or rights to payment asserted under or in connection with (A) the Contract entered into between the Operator and Welded Construction, L.P. on or about August 10, 2016 (the “Welded Claims”) or (B) other contractors in connection with the construction of the Main Facilities prior to the Closing (the “Other Contractor Claims”).


(b)	Subject to the provisions of this Agreement, including this Article IX, from and after the Closing, Buyer shall indemnify, defend and hold harmless each Seller, each Seller’s Affiliates and its and their respective Representatives (collectively, the “Seller Indemnified Parties”) from and against all Losses that the Seller Indemnified Parties incur arising from or out of:


(i)	any breach of any representation or warranty made by Buyer in Article V (or made with respect thereto in any certificate delivered pursuant to this Agreement); and


(ii)	any breach or failure to perform of any covenant or obligation of Buyer in this Agreement.


(c)	Notwithstanding anything to the contrary herein, the Parties shall have a duty to use Commercially Reasonable Efforts to mitigate any Losses arising out of or relating to this Agreement or the transactions contemplated hereby.


9.3	Indemnification Procedures.

Claims for indemnification under this Agreement shall be asserted and resolved as follows:

(a)

Any Buyer Indemnified Party or Seller Indemnified Party claiming indemnification under this Agreement (an “Indemnified Party”) with respect to any claim asserted against the Indemnified Party by a Third Party (a “Third-Party Claim”) in respect of any matter that is subject to indemnification under Section 9.2 shall promptly (i) notify (A) in the case of a Buyer Indemnified Party, Sellers’ Representative or (B) in the case of a Seller Indemnified Party, Buyer (the Party notified under either (A) or (B), an “Indemnifying Party”) of the Third-Party Claim and (ii) transmit to the Indemnifying Party a written notice (a “Claim Notice”) describing in reasonable detail the nature of the Third-Party Claim, a copy of all papers served with respect to such Third-Party Claim (if any), the Indemnified Party’s reasonable estimate of the amount of Losses attributable to the Third-Party Claim and the basis of the Indemnified Party’s request for indemnification under this Agreement. Failure to timely provide such Claim Notice shall not affect the right of the Indemnified Party’s indemnification hereunder, except to the extent the Indemnifying Party is materially prejudiced by such delay or omission. If a Third-Party Claim relates exclusively to any Seller or Sellers other than the Seller that is serving as Sellers’ Representative, Sellers’ Representative may, upon written notice delivered to the Indemnified Party and executed by one or more such other Sellers, elect to substitute such other Seller or Sellers as the Indemnifying Party handling or controlling the defense with respect to such Third-Party Claim.

(b)

The Indemnifying Party shall have the right to control the defense of the Indemnified Party against such Third-Party Claim in accordance with and subject to the following; provided that, prior to the Indemnifying Party assuming control of such defense, the Indemnifying Party, shall first verify to the Indemnified Party in writing that the Indemnifying Party shall be fully responsible for all Losses relating to such claim for indemnification to the extent indemnifiable under this Agreement and that it will provide full indemnification to the Indemnified Party with respect to such proceeding or other claim giving rise to such claim for indemnification hereunder to the extent indemnifiable under this Agreement. If the Indemnifying Party notifies the Indemnified Party that the Indemnifying Party elects to assume the defense of the Third-Party Claim, to the extent indemnifiable under this Agreement then, subject to the following, the Indemnifying Party shall have the right to defend such Third-Party Claim at the Indemnifying Party’s sole cost and expense with counsel selected by the Indemnifying Party, by all appropriate proceedings, to a final conclusion or settlement at the discretion of the Indemnifying Party in accordance with this Section 9.3(b). The Indemnifying Party shall have full control of such defense and proceedings, including any compromise or settlement thereof; provided, however, that the Indemnifying Party shall not be permitted to assume defense of any Third-Party Claim against an Indemnified Party for which indemnification is available hereunder (without the written consent of the Indemnified Party) if (i) the claim for indemnification relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party claimant is seeking injunctive or similar relief against Buyer Indemnified Parties; or (iii) the Third Party asserting the Third-Party Claim is the Operator and the matter in dispute affects the post-

Closing operations of the Company and the Operator; provided, further, that the Indemnifying Party shall not consent to the entry of any judgment or enter into any settlement agreement without the written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed); provided, further, that the Indemnified Party shall not be obligated to consent to any settlement or judgment (A) if it provides for injunctive or other nonmonetary relief affecting the Indemnified Party, (B) unless it includes as an unconditional term thereof the giving by each claimant or plaintiff to the Indemnified Party and its Affiliates of a release from all liability with respect to such Third-Party Claim, or (C) if it involves a finding or admission of any violation of Law or the rights of any Person or has an effect on any other claims that may be made against the Indemnified Party. If requested by the Indemnifying Party, the Indemnified Party agrees, at the sole cost and expense of the Indemnifying Party, to reasonably cooperate with the Indemnifying Party and its counsel in contesting any Third-Party Claim that the Indemnifying Party elects to contest, including the making of any related counterclaim against the Person asserting the Third-Party Claim or any cross complaint against any Person. The Indemnified Party may otherwise participate in, but not control, any defense or settlement of any Third-Party Claim controlled by the Indemnifying Party pursuant to this Section 9.3, and the Indemnified Party shall bear its own costs and expenses with respect to such participation unless the Indemnified Party has been advised by counsel that there could be a material conflict of interest in the case of joint representation or that there are legal defenses available to the Indemnified Party that are different (in a non de minimis way) from those available to the Indemnifying Party, in which case the Indemnified Party shall be entitled to separate counsel of the Indemnified Party’s own choosing at the Indemnifying Party’s expense.

(c)

If the Indemnifying Party does not notify the Indemnified Party that the Indemnifying Party elects to defend the Indemnified Party pursuant to Section 9.3(b), then the Indemnified Party shall have the right to defend, and be reimbursed for its reasonable costs and expenses (but only if the Indemnified Party is entitled to indemnification hereunder) in regard to the Third-Party Claim with counsel selected by the Indemnified Party (which counsel shall be reasonably satisfactory to the Indemnifying Party), by all appropriate proceedings, which proceedings shall be prosecuted diligently by the Indemnified Party. In such circumstances, the Indemnified Party shall defend any such Third-Party Claim in good faith and have full control of such defense and proceedings; provided, however, that the Indemnified Party may not enter into any compromise or settlement of such Third-Party Claim if indemnification is to be sought hereunder, without the Indemnifying Party’s consent (which consent shall not be unreasonably withheld, conditioned or delayed). The Indemnifying Party may participate in, but not control, any defense or settlement controlled by the Indemnified Party pursuant to this Section 9.3(c), and the Indemnifying Party shall bear its own costs and expenses with respect to such participation.


(d)	Subject to the other provisions of this Article IX, in the event that an Indemnified Party determines that it has a claim for indemnifiable Losses against an

Indemnifying Party hereunder (other than as a result of a Third-Party Claim), the Indemnified Party shall give written notice thereof to the Indemnifying Party, specifying, in reasonable detail, the amount of such claim, the nature and basis of the alleged breach or act giving rise to such claim and all relevant facts and circumstances relating thereto. The Indemnified Party shall provide the Indemnifying Party with reasonable access to its books and records (and, if a Seller is the Indemnifying Party, the books and records of the Acquired Companies) during normal business hours for the purpose of allowing the Indemnifying Party a reasonable opportunity to verify any such claim for indemnifiable Losses. The Indemnifying Party shall notify the Indemnified Party within thirty (30) days following its receipt of such notice and granting of such access if the Indemnifying Party disputes its liability to the Indemnified Party under this Article IX. If the Indemnifying Party does not so notify the Indemnified Party, the claim specified by the Indemnified Party in such notice shall be a liability of the applicable Indemnifying Party under this Article IX, and the Indemnifying Party shall pay the amount of such claim to the Indemnified Party on demand or, in the case of any notice in which the amount of the claim (or any portion of the claim) is estimated, on such later date when the amount of such claim (or such portion of such claim) becomes finally determined. If the Indemnifying Party has timely disputed its liability with respect to such claim as provided above, the Indemnifying Party and the Indemnified Party shall negotiate in good faith to resolve such dispute. Promptly, and in any event within five (5) Business Days, following the final determination of the amount of indemnifiable Losses to which the Indemnified Party is entitled (whether determined in accordance with this Section 9.3(d) or by a court of competent jurisdiction), the Indemnifying Party shall pay such indemnifiable Losses to the Indemnified Party by wire transfer or certified check made payable to the order of the Indemnified Party.


(e)	In the event an Indemnified Party shall recover Losses in respect of a claim of indemnification under this Article IX, no other Indemnified Party shall be entitled to recover the same Losses in respect of a claim for indemnification.


(f)	This Section 9.3 shall not apply to Tax Proceedings, which shall be controlled by Section 7.4.


9.4	Limitations on Liability.

Notwithstanding anything to the contrary stated in this Agreement:

(a)

Except in the event of Fraud, (i) Sellers’ aggregate liability under Section 7.3 and under Section 9.2(a)(i) shall not exceed the Transfer Tax Escrow Amount; (ii) Sellers’ aggregate liability for all covenants and agreements in this Agreement (other than under Section 2.3(d) and Section 7.3) shall not exceed the Indemnity Escrow Amount; and (iii) Sellers’ aggregate liability under this Agreement after the Closing shall not exceed the sum of the Transfer Tax Escrow Amount, the Indemnity Escrow Amount and the Adjustment Escrow Amount.

(b)

The amount of any Losses subject to indemnification under this Article IX shall be reduced or reimbursed, as the case may be, by any Third Party insurance proceeds actually received by the relevant Buyer Indemnified Party or Seller Indemnified Party, as applicable, with respect to such Losses (in each case calculated net of reasonable Third Party out-of-pocket costs and expenses of such recoveries, including any deductibles paid by Buyer to obtain such insurance coverage and any costs or expenses attributable to increases in insurance premiums). Buyer and each Seller shall, and shall cause Buyer Indemnified Parties and Seller Indemnified Parties, as applicable, to, use Commercially Reasonable Efforts to collect any amounts available under such Third Party insurance coverage and from any Person alleged to have responsibility. If a Buyer Indemnified Party or Seller Indemnified Party, as applicable, receives an amount under Third Party insurance coverage or from a Third Party with respect to Losses that were the subject of indemnification under this Article IX at any time subsequent to indemnification provided hereunder, then such Buyer Indemnified Party or Seller Indemnified Party, as applicable, shall as soon as reasonably practicable reimburse Buyer or Sellers (pro rata in proportion to the percentage of such Loss paid by such Seller), as applicable, the amount that Buyer or Sellers, as applicable, would not have had to pay pursuant to this Article IX had such insurance proceeds been received prior to the making of such indemnification payment.

(c)

To the extent that a Tax Benefit is actually realized by an Indemnified Party due to Losses for which such Indemnified Party has received a payment pursuant to Section 9.2, the Indemnified Party shall refund to Indemnifying Party the amount of such Tax Benefit within a reasonable time, but in no event more than ninety (90) days, after the Tax Return reflecting such Tax Benefit is filed with the applicable Tax Authority. For purposes of this Section 9.4(c), a “Tax Benefit” means an amount by which the Tax liability of the Indemnified Party is actually reduced by a deduction, reduction of income or entitlement to refund or credit, net of any Taxes and any reasonable out-of-pocket expenses incurred by the Indemnified Party and paid to a Person unrelated to such Indemnified Party in obtaining such deduction, reduction of income, refund or credit. This Section 9.4(c) shall not be construed to require any Indemnified Party to (i) pay any amount to an Indemnifying Party the payment of which would place the Indemnified Party in a less favorable net after-Tax position than the Indemnified Party would have been in if the Losses subject to indemnification and giving rise to the Tax Benefit had not been incurred and the indemnification payments with respect to such Losses had never been paid, or (ii) make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the Indemnifying Party or any other Person. An Indemnifying Party, upon the request the Indemnified Party, shall repay to the Indemnified Party the amount paid to such Indemnifying Party pursuant to this Section 9.4(c) in the event that the Indemnified Party is required to repay a related Tax Benefit to such Taxing Authority.


9.5	Recourse.

(a)

R&W Insurance. Except in the event of Fraud, Buyer or any Buyer Indemnified Party’s sole and exclusive recourse from and after the Closing for any breach or inaccuracy of a representation or warranty made by Sellers or any Seller under Article III or Article IV or in any certificate delivered pursuant to this Agreement shall be to make a claim under the R&W Insurance Policy, which shall be obtained at Buyer’s sole expense in accordance with Section 6.7, and no Seller shall have any liability for any such breach or inaccuracy. Buyer agrees (on behalf of itself and each of its Affiliates) that (i) none of Sellers, any of their respective Affiliates or their respective Representatives shall have any liability whatsoever for or under the R&W Insurance Policy (including for any premiums or other amounts payable in respect thereof); (ii) the R&W Insurance Policy shall at all times provide that the R&W Insurer (A) waives and agrees not to pursue, directly or indirectly, any subrogation rights against any Seller, any Affiliate of any Seller or any of its or their respective Representatives, other than for Fraud and (B) agrees that none of Buyer or any of its Affiliates shall have any obligation to pursue any claim against any Seller, any Affiliate of any Seller or any of its or their respective Representatives and (iii) the absence of coverage under the R&W Insurance Policy or the failure of the R&W Insurance Policy to be in full force and effect for any reason shall not expand, alter, amend, change or otherwise affect the liability of any Seller, any Affiliate of any Seller or any of its or their respective Representatives under ‎this Agreement.


(b)	Escrow. Any claims by Buyer or any Buyer Indemnified Party for indemnifiable Losses under Section 9.2(a) from and after the Closing shall be subject to the following terms:

(i)

Except in the event of Fraud, Buyer or any Buyer Indemnified Party’s sole and exclusive recourse from and after the Closing for indemnifiable Losses pursuant to Section 9.2(a)(ii) and Section 9.2(a)(iii) shall be to make a claim for payment from the Indemnity Escrow Funds in accordance with, and subject to, the terms and conditions of the Indemnity Escrow Agreement, and no Seller shall have any further liability for any such Losses. Subject to the remainder of this Section 9.5(b)(i), the Indemnity Escrow Account shall remain outstanding until the earlier of the date that is twenty-four (24) months after the Closing Date (the “Final Indemnity Escrow Release Date”) and the date on which the Indemnity Escrow Funds are reduced to Zero Dollars ($0).

(A)

If the Indemnity Escrow Funds have not already been reduced to Zero Dollars ($0) and all of the Welded Claims have not been resolved and paid by the date that is eighteen (18) months after the Closing Date (the “Initial Indemnity Escrow Release Date”), then Sellers shall be entitled to receive, by wire transfer of immediately available funds from the Indemnity Escrow Account in accordance with the terms of the Indemnity Escrow Agreement, an amount

equal to the amount, if any, by which the remaining Indemnity Escrow Funds at such time exceed the sum of (1) the Welded Indemnity Escrow Amount and (2) the amount of any then outstanding unpaid claims for payment from the Indemnity Escrow Account timely asserted in good faith by a Buyer Indemnified Party as of such time for claims made under Section 9.2(a)(ii) and Section 9.2(a)(iii)(B) (the claims addressed in this clause (2), the “Pending Non-Welded Claims”).

(B)

If the Indemnity Escrow Funds have not already been reduced to Zero Dollars ($0) and all of the Welded Claims have been resolved and paid as of the Initial Indemnity Escrow Release Date, then Sellers shall be entitled to receive, by wire transfer of immediately available funds from the Indemnity Escrow Account in accordance with the terms of the Indemnity Escrow Agreement, an amount equal to the amount, if any, by which the remaining Indemnity Escrow Funds at such time exceed the amount of any Pending Non-Welded Claims.

(C)

If the Indemnity Escrow Funds have not already been reduced to Zero Dollars ($0) as of the Final Indemnity Escrow Release Date, then Sellers shall be entitled to receive, by wire transfer of immediately available funds from the Indemnity Escrow Account in accordance with the terms of the Indemnity Escrow Agreement, an amount equal to the amount, if any, by which the remaining Indemnity Escrow Funds at such time exceed the sum of (1) any Welded Claims that have been resolved at such time but are unpaid (provided that, for the avoidance of doubt, if any Welded Claims remain in controversy as of the Final Indemnity Escrow Release Date, no amount shall be retained in the Indemnity Escrow Account with respect thereto) (the “Unpaid Settled Welded Claims”) and (2) the amount of any Pending Non-Welded Claims that remain outstanding and unpaid as of the Final Indemnity Escrow Release Date. The remaining amount held in the Indemnity Escrow Account in respect of Pending Non-Welded Claims (from and after the Initial Indemnity Escrow Release Date) or Unpaid Settled Welded Claims (from and after the Final Indemnity Escrow Release Date), if any, will continue to be held and disbursed by the Escrow Agent pursuant to the terms of the Indemnity Escrow Agreement.

(ii)

Tax Escrow Account shall remain outstanding until the date that is the earlier of forty-eight (48) months after the Closing Date (the “Transfer Tax Escrow Release Date”) and the date on which the Transfer Tax Escrow Funds are reduced to Zero Dollars ($0). If the Transfer Tax Escrow Funds have not already been reduced to Zero Dollars ($0) as of the Transfer Tax Escrow Release Date, then Sellers shall be entitled to receive, by wire transfer of immediately available funds from the Transfer Tax Escrow Account in accordance with instructions delivered by Sellers’ Representative in accordance with the terms of the Transfer Tax Escrow Agreement, an amount equal to the amount, if any, by which the remaining Transfer Tax Escrow Funds exceed the amount of any outstanding claims for payment from the Transfer Tax Escrow Account timely asserted in good faith by a Buyer Indemnified Party under Section 9.2(a)(i) (“Pending Transfer Tax Claims”). The remaining amount held in the Transfer Tax Escrow Account for Pending Transfer Tax Claims (from and after the Transfer Tax Escrow Release Date), if any, will continue to be held and disbursed by the Escrow Agent pursuant to the terms of the Transfer Tax Escrow Agreement.


(iii)	Except in the event of Fraud, in no event shall a Buyer Indemnified Party deliver notice of a claim for payment directly against, or otherwise make or assert any claim for damages or other Losses against, any Seller from and after the Closing other than in accordance with this Section 9.5(b).


9.6	Waiver of Other Representations.

(a)

NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THE PARTIES HEREBY AGREE THAT NO SELLER NOR ANY OF ITS AFFILIATES OR REPRESENTATIVES HAS MADE OR IS MAKING ANY REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, WRITTEN OR ORAL, INCLUDING ANY IMPLIED REPRESENTATION OR WARRANTY AS TO THE CONDITION, MERCHANTABILITY, USAGE, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE WITH RESPECT TO THE ACQUIRED INTERESTS, THE ACQUIRED COMPANIES, THE ASSETS, PROPERTIES OR LIABILITIES OF THE ACQUIRED COMPANIES, THE BUSINESS OR ANY PART THEREOF, EXCEPT THOSE REPRESENTATIONS AND WARRANTIES OF SELLERS EXPRESSLY MADE IN ARTICLE III AND ARTICLE IV, AND WITHOUT IN ANY WAY LIMITING THE FOREGOING, EACH SELLER MAKES NO REPRESENTATION OR WARRANTY TO BUYER WITH RESPECT TO ANY FINANCIAL PROJECTIONS OR FORECASTS RELATING TO THE ACQUIRED COMPANIES, THE ACQUIRED INTERESTS, THE ASSETS, PROPERTIES OR LIABILITIES OF THE ACQUIRED COMPANIES OR THE BUSINESS.


(b)	EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN, THE ACQUIRED INTERESTS, THE ASSETS OF THE ACQUIRED COMPANIES

AND THE BUSINESS ARE BEING TRANSFERRED THROUGH THE SALE OF THE ACQUIRED INTERESTS “AS IS, WHERE IS, WITH ALL FAULTS”, AND EXCEPT AS OTHERWISE EXPRESSLY MADE HEREIN, EACH SELLER EXPRESSLY DISCLAIMS ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE, EXPRESS OR IMPLIED, AS TO THE CONDITION, VALUE OR QUALITY OF THE ACQUIRED INTERESTS, THE ACQUIRED COMPANIES, THE ASSETS OF THE ACQUIRED COMPANIES OF ANY TYPE OR DESCRIPTION, THE BUSINESS OR THE PROSPECTS (FINANCIAL OR OTHERWISE), RISKS AND OTHER INCIDENTS OF THE ACQUIRED INTERESTS, THE ACQUIRED COMPANIES AND THE ASSETS OF THE ACQUIRED COMPANIES AND THE BUSINESS.


9.7	Purchase Price Adjustment.

The Parties agree to treat all payments made pursuant to this Article IX as adjustments to the Purchase Price for Tax purposes, unless otherwise required by a change in Law occurring after the Execution Date, a closing agreement with an applicable Tax Authority or a final judgment of a court of competent jurisdiction.


9.8	Exclusive Remedy; Limit on Damages.

(a)

From and after the Closing, except in the event of Fraud, the indemnification and remedies set forth in this Article IX, Section 2.3(d), Section 6.2(b), Section 6.5, the last two (2) sentences of Section 6.13, Section 7.3 and Section 11.14 shall constitute the sole and exclusive remedies of Buyer Indemnified Parties against any Seller and of the Seller Indemnified Parties against Buyer with respect to any breach of representation or warranty or non-performance, partial or total, of any covenant or agreement contained in this Agreement (or in any certificate delivered in connection herewith). No Financing Source shall have any liability to any Seller in connection with this Agreement, the Debt Financing or the transactions contemplated hereby or thereby (including any special, consequential, punitive or indirect damages or damages of a tortious nature).


(b)	NOTWITHSTANDING ANY OTHER PROVISIONS OF THIS AGREEMENT, NO PARTY SHALL BE LIABLE FOR NON-REIMBURSABLE DAMAGES.

ARTICLE X.

TERMINATION


10.1	Termination.

Prior to the Closing, this Agreement may be terminated and the transactions contemplated hereby abandoned:


(a)	by the mutual consent of the Parties as evidenced in a writing signed by each of the Parties;

(b)

by Buyer (provided it is not then in material breach of any of its obligations under this Agreement), if there has been a material breach by Sellers of any representation, warranty or covenant contained in this Agreement (i) such that the conditions set forth in Section 8.2 would not be satisfied as of the time of such termination and (ii) such breach is incapable of being cured or has not been cured by Sellers within thirty (30) days after written notice thereof from Buyer;

(c)

by Sellers’ Representative (provided Sellers are not then in material breach of any of their obligations under this Agreement), if there has been a material breach by Buyer of any representation, warranty or covenant contained in this Agreement (i) such that the conditions set forth in Section 8.3 would not be satisfied as of the time of such termination and (ii) such breach is incapable of being cured or has not been cured by Buyer within thirty (30) days after written notice thereof from Sellers’ Representative;


(d)	by any Party if any Governmental Authority having competent jurisdiction has issued a final and non-appealable Order (other than a temporary restraining order) or taken any other action permanently restraining, enjoining, preventing, prohibiting or making illegal the transactions contemplated by this Agreement;


(e)	by Buyer in accordance with Section 6.6; or

(f)

by any Party if the Closing has not occurred on or before March 27, 2020 (the “Outside Date”)or such later date as the Parties may agree upon; provided, however, that the right to terminate this Agreement under this Section 10.1(f) shall not be available to any Party whose failure to fulfill any obligation under this Agreement shall have been the cause of, or shall have resulted in, the failure of the Closing to occur on or prior to the Outside Date.


10.2	Effect of Termination.

In the event of termination and abandonment of this Agreement pursuant to Section 10.1, this Agreement shall forthwith become null and void and have no effect, and the obligations of the Parties under this Agreement shall terminate, except for the obligations set forth in Section 6.2(b), the last two (2) sentences of Section 6.13, Section 9.8(b), this Section 10.2, Section 11.2, Section 11.4, and Section 11.11, each of which shall survive termination of this Agreement; provided, however, that if this Agreement is validly terminated by a Party as a result of an intentional and material breach of this Agreement by the non-terminating Party, then, subject to the limitations set forth in Article IX, the terminating Party shall be entitled to all rights and remedies available at law or in equity for such intentional and material breach. No termination of this Agreement shall affect the obligations of the parties contained in the Confidentiality Agreement, all of which obligations shall survive termination of this Agreement in accordance with their terms. Buyer shall promptly notify the escrow agent under the Transfer Documents Escrow Agreement of the termination of this Agreement within one (1) Business Day of the termination of this Agreement.

ARTICLE XI.

MISCELLANEOUS


11.1	Notices.

All notices, requests, claims, demands and other communications required or permitted hereunder will be in writing and shall be deemed to have been duly given or made by delivery in person by an internationally recognized courier service, by facsimile with receipt confirmed or by electronic transmission (in each case followed by delivery of an original via an internationally recognized courier service), or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other addresses for a Party as shall be specified in a notice given in accordance with this Section 11.1):



	If to a Seller, to Sellers’ Representative on behalf of the applicable Seller; provided that a copy shall be sent to such Seller within one (1) Business Day of transmittal to Sellers’ Representative. Sellers’ Representative’s address and the address of each Seller are set forth below:

	Sellers’ Representative: WGL Midstream MP, LLC c/o WGL Midstream, Inc. 1000 Maine Ave, SW Washington, D.C. 20024 Attention: Fred Dalena, Vice President Email: Fred.Dalena@altagas.ca
	Sellers:
	EIF Meade Holdings, LLC c/o Ares EIF Management, LLC 3 Charles River Place, Suite 101 63 Kendrick Street Needham, Massachusetts 02494 Attention: Legal Department Email: nehrenpreis@aresmgmt.com

	VED NPI I, LLC c/o Vega Energy Partners, Ltd. 3701 Kirby, Suite 1290 Houston, Texas 77098 Attention: David Modesett Email: david@vegaenergy.com

	VED NPI II, LLC c/o Vega Energy Partners, Ltd.



	3701 Kirby, Suite 1290 Houston, Texas 77098 Attention: David Modesett Email: david@vegaenergy.com

	WGL Midstream MP, LLC c/o WGL Midstream, Inc. 1000 Maine Ave, SW Washington, D.C. 20024 Attention: Fred Dalena, Vice President Email: Fred.Dalena@altagas.ca

	COG Holdings LLC 840 Gessner, Suite 1400 Houston, Texas 77024 Attention: Matt Kerin Email: Matt.Kerin@cabotog.com

	with a copy (which shall not constitute notice) to: Orrick, Herrington & Sutcliffe 609 Main St., 40^th Floor Houston, TX 77002 Attention: Bradford K. Gathright bgathright@orrick.com

	If to Buyer or, after Closing, the Acquired Companies, to:

	Meade Pipeline Investment, LLC c/o NextEra Energy Partners GP, Inc. 700 Universe Boulevard Juno Beach, FL 33408 Attention: Charles E. Sieving, General Counsel Email: Charles.sieving@nexteraenergy.com

	with a copy (which shall not constitute notice) to:

	Locke Lord LLP 600 Travis Street, Suite 2800 Houston, TX 77002 Attention: H. William Swanstrom Email: bswanstrom@lockelord.com


11.2	Assignment.

No Party shall assign this Agreement or any part hereof, by operation of law or otherwise, without the prior written consent of the other Party (or Parties); provided, however, that notwithstanding the foregoing, Buyer shall be entitled to assign all of its rights, interests and obligations hereunder (other than its payment obligations) to its Affiliates without the prior written consent of the other Parties, which such assignment shall not relieve Buyer of any of its obligations hereunder. Any attempted assignment in violation of this Section 11.2 shall be void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns.


11.3	Rights of Third Parties.

Except for the provisions of Section 6.2(b), Section 6.5 and Article IX that are intended to be enforceable by the Persons respectively referred to therein, nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give any Person, other than the Parties and their permitted successors and assigns, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement; provided, that the Financing Sources shall be express third party beneficiaries of Sections 9.8, 11.8 and 11.11, each of such Sections shall expressly inure to the benefit of the Financing Sources and the Financing Sources shall be entitled to rely on and enforce the provisions of such Sections.


11.4	Expenses.

Except as otherwise provided herein, each Party shall bear its own expenses incurred in connection with this Agreement and the transactions contemplated hereby whether or not such transactions shall be consummated, including all fees of its legal counsel, financial advisors and accountants; provided that in accordance with Section 6.4(b), Buyer, on the one hand, and Sellers, on the other hand, shall each pay one-half of all applicable filing fees in connection with filings to be made and actions taken under the HSR Act.


11.5	Counterparts.

This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any facsimile or electronic copies hereof or signatures hereon shall, for all purposes, be deemed originals.


11.6	Entire Agreement.

This Agreement (together with the Disclosure Schedules and Exhibits to this Agreement), the other Transaction Documents and the Confidentiality Agreement constitute the entire agreement among the Parties and supersede any other agreements, whether written or oral, that may have been made or entered into by or among any of the Parties or any of their respective Affiliates relating to the transactions contemplated hereby. No representations, warranties, covenants, understandings or agreements, oral or otherwise, relating to the

transactions contemplated by this Agreement exist between Buyer, on the one hand, and any Seller or any of their respective Affiliates, on the other hand, except as expressly set forth in this Agreement or in any certificate delivered at the Closing.


11.7	Disclosure Schedules.

Unless the context otherwise requires, all capitalized terms used in the Disclosure Schedules shall have the respective meanings assigned to such terms in this Agreement. No reference to or disclosure of any item or other matter in the Disclosure Schedules shall be construed as an admission or indication that such item or other matter is material or that such item or other matter is required to be referred to or disclosed in the Disclosure Schedules. No disclosure in the Disclosure Schedules relating to any possible breach or violation of any agreement or Law shall be construed as an admission or indication that any such breach or violation exists or has actually occurred. The inclusion of any information in the Disclosure Schedules shall not be deemed to be an admission or acknowledgment by any Seller that in and of itself, such information is material to or outside the ordinary course of the Business or is required to be disclosed on the Disclosure Schedules. Each numbered Schedule in the Disclosure Schedules qualifies the correspondingly numbered representation, warranty or covenant to the extent specified therein and such other representations, warranties or covenants to the extent a matter in such numbered Schedule is disclosed in such a way as to make its relevance to such other representation, warranty or covenant reasonably apparent on the face of such disclosure.


11.8	Amendments.

This Agreement may be amended or supplemented at any time only by additional written agreements signed by Buyer and each Seller, each in its respective sole discretion, as may mutually be determined by the Parties to be necessary, desirable or expedient to further the purpose of this Agreement or to clarify the intention of the Parties. Notwithstanding anything to the contrary contained herein, Sections 9.8, 11.3 or 11.11, (and any other provision of this Agreement to the extent an amendment, supplement, waiver or other modification of such provision would modify the substance of such Sections) may not be amended, supplement, waived or otherwise modified in any manner that impacts or is otherwise adverse in any material respect to the Financing Sources without the prior written consent of the Financing Sources.


11.9	Publicity.

No Party or any Affiliate or Representative of such Party shall issue or cause the publication of any press release or public announcement or otherwise communicate with any news media in respect of this Agreement or the transactions contemplated hereby without the prior written consent of the other Party (or Parties) (which consent shall not be unreasonably withheld, conditioned or delayed), except as may be required by Law or applicable securities exchange rules (which may include the disclosure of this Agreement and the terms and conditions hereof) and except with respect to customary investor and analyst presentations, meetings and conference calls, in which case, the Party issuing or publishing such press release or making such public announcement shall provide, to the

extent reasonably practicable, the other Party (or Parties) with a copy of such press release or public announcement (including any slides or transcripts to be used in any investor or analyst presentation or conference) in advance of its issuing or publishing such press release or making such public announcement, as applicable.


11.10	Severability.

If any term or other provision of this Agreement is illegal, invalid or unenforceable under any Law or as a matter of public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision contained herein is, to any extent, invalid or unenforceable in any respect under the Laws governing this Agreement, the Parties to this Agreement shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible.


11.11	Governing Law; Jurisdiction.

(a)

This Agreement shall be governed by and construed in accordance with the Laws of the State of New York (without regard to the conflict of laws principles thereof, other than Section 5-1401 of the New York General Obligations Law). Each of the Parties irrevocably agrees that any legal action or proceeding with respect to this Agreement or the transactions contemplated hereby, including any action or proceeding against the Financing Sources or arising out of or relating in any way to the Debt Financing or the performance thereof or the transactions contemplated thereby, shall be brought and determined in any state or federal court in the Borough of Manhattan, City of New York, and each of the Parties irrevocably submits to the exclusive jurisdiction of such courts solely in respect of any legal proceeding arising out of or related to this Agreement. The Parties further agree that the Parties shall not bring suit with respect to any disputes arising out of this Agreement or the transactions contemplated hereby‎, including any dispute arising out of or relating in any way to the Debt ‎Financing or the performance thereof or the transactions contemplated thereby,‎ in any court or jurisdiction other than the above specified courts; provided, however, that the foregoing shall not limit the rights of the Parties to obtain execution of judgment in any other jurisdiction. The Parties further agree, to the extent permitted by Law, that a final and unappealable judgment against a Party in any action or proceeding contemplated above shall be conclusive and may be enforced in any other jurisdiction within or outside the United States by suit on the judgment, a certified copy of which shall be conclusive evidence of the fact and amount of such judgment. Except to the extent that a different determination or finding is mandated due to the applicable Law being that of a different jurisdiction, the Parties agree that all judicial determinations or findings by a state or federal court in the Borough of Manhattan, City of New York with respect to any matter under

this Agreement‎, including any matter relating in any way to the Debt Financing or the performance thereof ‎or the transactions contemplated thereby, shall be binding. In the event a dispute arises under this Agreement, the prevailing Party or Parties shall be entitled to receive their reasonable attorneys’ fees and court costs from the non-prevailing Party or Parties.

(b)

To the extent that any Party has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, each such Party hereby irrevocably (i) waives such immunity in respect of its obligations with respect to this Agreement and (ii) submits to the personal jurisdiction of any court described in this Section 11.11.


(c)	THE PARTIES AGREE THAT THEY HEREBY IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION TO ENFORCE OR INTERPRET THE PROVISIONS OF THIS AGREEMENT OR OTHERWISE ARISING FROM THE TRANSACTIONS CONTEMPLATED HEREBY OR THE DEBT FINANCING, INCLUDING ANY ACTION, PROCEEDING OR COUNTERCLAIM AGAINST ANY FINANCING SOURCE.


11.12	Seller Individual and Several Liability.

Without affecting Buyer’s recourse to the Escrow Accounts in accordance with Section 9.5(b), the liability of each Seller for any amount or obligation under this Agreement or any certificate delivered by any Sellers hereunder or in connection with any of the transactions contemplated hereby shall be individual and several (and not joint and several).


11.13	Privilege.

Buyer shall not assert, and shall cause its Affiliates not to assert, any attorney-client privilege with respect to any communication between any of the Acquired Companies (prior to the Closing) or any Seller or any of Sellers’ Affiliates or any of their respective officers, employees, managers or directors (any such Person, a “Designated Person”), on the one hand, and any legal counsel currently or formerly representing a Designated Person in connection with this Agreement or any other agreements or transactions contemplated hereby (collectively, “Privileged Information”), including in connection with a dispute between any Designated Person and one or more of Buyer, the Acquired Companies and their respective Affiliates, it being the intention of the Parties that all rights to such attorney-client privilege and to control such attorney-client privilege shall be retained by Sellers and their Affiliates (excluding the Acquired Companies). Furthermore, Buyer acknowledges and agrees that no Privileged Information is subject to any joint privilege (whether or not the Acquired Companies also received such advice or communication) and that all Privileged Information shall be owned solely by Sellers and their Affiliates (excluding the Acquired Companies). All books and records of the Acquired Companies to the extent containing any such Privileged Information shall be

excluded from the transaction, and shall be distributed (or deemed to have been distributed) to Sellers immediately prior to the Closing, with no copies retained by the Acquired Companies.


11.14	Equitable Remedies.

The Parties agree that irreparable damage for which monetary damages, even if available, would not be an adequate remedy, would occur in the event that the Parties do not perform the provisions of this Agreement (including failing to take such actions as are required of them hereunder to consummate the transactions contemplated by this Agreement) in accordance with its specified terms or otherwise breach such provisions. It is accordingly agreed that the Parties shall be entitled to an injunction, specific performance and other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which they are entitled at law or in equity, as limited by this Agreement. Each of the Parties agrees that it will not oppose the granting of an injunction, specific performance and other equitable relief on the basis that the Party seeking the injunction, specific performance and other equitable relief has an adequate remedy of law, except to the extent Buyer has a remedy (or limitation thereon) pursuant to Article IX. To the extent any Party brings any action to enforce specifically the performance of the terms and provisions of this Agreement (other than an action solely to specifically enforce any provision that expressly survives termination of this Agreement pursuant to Section 9.1) when available to such Party pursuant to the terms of this Agreement, the Outside Date shall automatically be extended by (i) the amount of time during which such action is pending, plus twenty (20) Business Days, or (ii) such other time period established by the court presiding over such action.


11.15	Sellers’ Representative

(a)

Each Seller designates as its true and lawful representative, agent and attorney-in-fact of such Seller WGLM (in such capacity, and any successor appointed to serve in such capacity, the “Sellers’ Representative”) solely for the express purpose of acting in the name of and on behalf of such Seller in each of the following: (i) giving and receiving all notices or consents permitted or required by this Agreement and otherwise acting on Sellers’ behalf hereunder for all purposes expressly specified herein, to the extent specified herein and subject to any limitations on such authority included in this Agreement or any other Contract between Sellers’ Representative and one or more Sellers; (ii) attending to any and all matters related to the Closing in accordance with Section 2.4, including executing and delivering the executed Escrow Agreements under Section 2.4(b) and the certificate described in Section 8.2(e) and receiving Buyer’s deliverables pursuant to Section 2.4(c) (provided that Sellers’ Representative shall have no authority to waive conditions to Closing on behalf of the other Sellers or to allocate or direct the payment of funds hereunder other than as expressly set forth hereunder); (iii) communicating to Buyer any amounts determined in accordance with, and coordinating the resolution of any dispute under, Section 2.3; (iv) providing DS Updates in accordance with Section 6.6; (v) coordinating the

resolution of any dispute relating to Tax Returns in accordance with Section 7.1 and preparing the Transfer Tax Returns in accordance with Section 7.3, (vi) coordinating the resolution of any dispute relating to the allocation statement in accordance with Section 7.5(b); (vii) administering, controlling and satisfying any Third-Party Claim in accordance with Section 9.3; (viii) submitting Joint Directions to the Escrow Agent for the release of Escrow Funds in accordance with Section 2.5, Section 7.1, Section 7.3 and Section 9.5(b) and (ix) making, executing, acknowledging and delivering all such notices, requests, instructions, instruments, certificates, letters and other writings, and in general doing all things and taking all actions that Sellers’ Representative may consider necessary or proper in connection with any of the foregoing, subject in all respects to any limitations on such authority included in this Agreement or any other Contract between Sellers’ Representative and one or more Sellers. All actions taken hereunder by Sellers’ Representative shall be deemed to be taken on behalf of Sellers as a group, and not on behalf of itself in its capacity as a Seller.


(b)	By executing this Agreement, WGLM (i) accepts its appointment and authorization to act as Sellers’ Representative as attorney-in-fact and agent on behalf of Sellers in accordance with the terms of this Agreement and (ii) agrees to perform its obligations under, and otherwise comply with, this Section 11.15.


(c)	If WGLM or any successor Sellers’ Representative ceases to function in its capacity as Sellers’ Representative for any reason whatsoever, then Sellers shall have the right to appoint a successor Sellers’ Representative by written notice to Buyer signed by each Seller other than the Seller serving as Sellers’ Representative.


(d)	Each Seller hereby authorizes Buyer and its Affiliates to rely in good faith on any action taken by Sellers’ Representative in accordance with the terms of this Agreement as having been fully and properly authorized by Sellers.

(e)

Notwithstanding anything herein to the contrary, Sellers’ Representative shall not have any liability to Buyer or any other Buyer Indemnified Party in connection with this Agreement, except to the extent such liability is a result of Sellers’ Representative’s gross negligence, willful misconduct or Fraud, or incurred in the Person serving as Sellers’ Representative’s capacity as a Seller hereunder, it being understood and agreed that Sellers’ Representative is acting solely as the representative of Sellers and solely for the purposes set forth herein.

[SIGNATURE PAGES FOLLOW]

IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by each Party as of the date first above written.



		SELLERS:

		EIF MEADE HOLDINGS, LLC


		By: SHAWN SAINT
		Name: Shawn Saint
		Title: Vice President

		VED NPI II, LLC


		By: DAVID A. MODESETT
		Name: David A. Modesett
		Title: President


		VED NPI I, LLC


		By: DAVID A. MODESETT
		Name: David A. Modesett
		Title: President


		WGL MIDSTREAM MP LLC


		By: FREDRICK DALENA
		Name: Fredrick Dalena
		Title: President


		COG HOLDINGS LLC


		By: SCOTT C. SCHROEDER
		Name: Scott C. Schroeder
		Title: Executive Vice President &
		Chief Financial Officer

SIGNATURE PAGE TO PURCHASE AND SALE AGREEMENT



		BUYER:

		MEADE PIPELINE INVESTMENT, LLC


		By: JOHN W. KETCHUM
		Name: John W. Ketchum
		Title: President

SIGNATURE PAGE TO PURCHASE AND SALE AGREEMENT



		SELLERS' REPRESENTATIVE:

		WGL MIDSTREAM MP, LLC


		By: FREDRICK DALENA
		Name: Fredrick Dalena
		Title: President

SIGNATURE PAGE TO PURCHASE AND SALE AGREEMENT

Exhibit A

Form of Assignment and Assumption Agreement

ASSIGNMENT AND ASSUMPTION AGREEMENT

This ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Agreement”) is entered into and effective on ____________, 20__, by and between [________________________], a [__________] (“Seller”), and Meade Pipeline Investment, LLC, a Delaware limited liability company (“Buyer”, and together with Seller, the “Parties” and each a “Party”).

W I T N E S S E T H:

A. Seller and Buyer have entered into that certain Purchase and Sale Agreement, dated September 29, 2019 (the “Purchase and Sale Agreement”), with the other seller parties thereto, pursuant to which, among other things, Buyer agreed to purchase, accept and acquire from Seller, and Seller agreed to sell, assign, transfer and convey to Buyer, the [EIF/VED II/COG/WGLM/ VED I] Acquired Interests, subject to the terms and conditions set forth therein.

B. The execution and delivery of this Agreement by Seller and Buyer is required by Sections 2.4(b)(i) and 2.4(c)(i) of the Purchase and Sale Agreement.

1.Definitions. Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Purchase and Sale Agreement.

2.Assignment and Assumption. Seller hereby sells, conveys, assigns, transfers and conveys to Buyer, and Buyer hereby purchases, accepts and acquires from Seller, all of Seller’s legal, beneficial and other right, title and interest in and to the [EIF/VED II/COG/ WGLM/VED I] Acquired Interests. Buyer hereby unconditionally accepts such assignment and assumes and agrees to be bound by each and all of the liabilities, obligations, responsibilities and duties in respect of the [EIF/VED II/COG/WGLM/VED I] Acquired Interests and agrees to pay, perform and discharge, as and when due, all of the obligations with respect to the [EIF/VED II/ COG/WGLM/VED I] Acquired Interests arising on or after the date hereof in place of Seller.

3.Inconsistencies; Disclaimer of Representations and Warranties. This Agreement is delivered pursuant to and subject to the Purchase and Sale Agreement, and the terms of the Purchase and Sale Agreement, including the representations, warranties, covenants, agreements, indemnities and other terms and conditions set forth therein are incorporated herein by reference. If there are any inconsistencies between this Agreement and the Purchase and Sale Agreement, the Purchase and Sale Agreement shall control. This Agreement is made subject to the terms and conditions of the Purchase and Sale Agreement, and shall not affect, enlarge, diminish or otherwise impair any of the rights, obligations or remedies of any Party under the Purchase and

A-1

Sale Agreement. Except for the representations and warranties of Seller expressly set forth in the Purchase and Sale Agreement, the assignment of the [EIF/VED II/COG/WGLM/VED I] Acquired Interests pursuant to this Agreement is made without representation or warranty, express or implied, and Seller hereby disclaim and negate any such representation or warranty

4.Successors and Assigns. This Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.

5.Governing Law; Jurisdiction.

(a) This Agreement shall be governed by and construed in accordance with the Laws of the State of New York (without regard to the conflict of laws principles thereof, other than Section 5-1401 of the New York General Obligations Law). Each of the Parties irrevocably agrees that any legal action or proceeding with respect to this Agreement or the transactions contemplated hereby shall be brought and determined in any state or federal court in New York, and each of the Parties irrevocably submits to the exclusive jurisdiction of such courts solely in respect of any legal proceeding arising out of or related to this Agreement. The Parties further agree that the Parties shall not bring suit with respect to any disputes arising out of this Agreement or the transactions contemplated hereby in any court or jurisdiction other than the above specified courts; provided, however, that the foregoing shall not limit the rights of the Parties to obtain execution of judgment in any other jurisdiction. The Parties further agree, to the extent permitted by Law, that a final and unappealable judgment against a Party in any action or proceeding contemplated above shall be conclusive and may be enforced in any other jurisdiction within or outside the United States by suit on the judgment, a certified copy of which shall be conclusive evidence of the fact and amount of such judgment. Except to the extent that a different determination or finding is mandated due to the applicable Law being that of a different jurisdiction, the Parties agree that all judicial determinations or findings by a state or federal court in New York with respect to any matter under this Agreement shall be binding. In the event a dispute arises from this Agreement, the prevailing Party or Parties shall be entitled to receive their reasonable attorneys’ fees and court costs from the non-prevailing Party or Parties.

(b) To the extent that any Party has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, each such Party hereby irrevocably (i) waives such immunity in respect of its obligations with respect to this Agreement and (ii) submits to the personal jurisdiction of any court described in this Section 5.

(c) THE PARTIES AGREE THAT THEY HEREBY IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION TO ENFORCE OR INTERPRET THE PROVISIONS OF THIS AGREEMENT OR OTHERWISE ARISING FROM THE TRANSACTIONS CONTEMPLATED HEREBY.

6.Severability. If any term or other provision of this Agreement is illegal, invalid or unenforceable under any Law or as a matter of public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or

A-2

legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision contained herein is, to any extent, invalid or unenforceable in any respect under the Laws governing this Agreement, the Parties to this Agreement shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible.

7.Headings. The captions and headings in this Agreement are for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement

8.Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any facsimile or electronic copies hereof or signatures hereon shall, for all purposes, be deemed originals.

[SIGNATURE PAGES FOLLOW]

A-3

IN WITNESS WHEREOF, this Agreement has been duly authorized and executed by the Parties as of the date first above written.



		SELLER:

		[EIF MEADE HOLDINGS, LLC]


		By: ____________________________________
		Name:
		Title:

		[VED NPI II, LLC]


		By: ____________________________________
		Name:
		Title:


		[VED NPI I, LLC]


		By: ____________________________________
		Name:
		Title:


		[WGL MIDSTREAM MP LLC]


		By: ____________________________________
		Name:
		Title:


		[COG HOLDINGS LLC]


		By: ____________________________________
		Name:
		Title:

A-4



		BUYER:


		MEADE PIPELINE INVESTMENT, LLC



		By: ____________________________________
		Name:
		Title:

A-5

Exhibit B-1

Form of Adjustment Escrow Agreement

ESCROW AGREEMENT (ADJUSTMENT)

This ESCROW AGREEMENT (ADJUSTMENT) (this “Agreement”), dated as of [ ], 20[_] (the “Effective Date”), is entered into by and among Meade Pipeline Investment, LLC, a Delaware limited liability company (“Buyer”), WGL Midstream MP, LLC, a Delaware limited liability company (“Sellers’ Representative”), acting as representative of Sellers (as defined below), and Citibank, N.A., a national banking association organized and existing under the laws of the United States of America (“Citibank”). Citibank acting through its Agency and Trust Division, solely in its capacity as escrow agent under this Agreement, and any successors appointed pursuant to the terms hereof, is referred to herein as the “Escrow Agent”. Buyer and Sellers’ Representative are collectively referred to herein as the “Interested Parties”.

WHEREAS, pursuant to that certain Purchase and Sale Agreement, dated as of September 29, 2019 (the “Purchase Agreement”), by and among Buyer, EIF Meade Holdings, LLC, a Delaware limited liability company (“EIF”), VED NPI II, LLC, a Delaware limited liability company (“VED II”), VED NPI I, LLC, a Delaware limited liability company (“VED I”), WGL Midstream MP, LLC, a Delaware limited liability company (“WGLM”), and COG Holdings LLC, a Delaware limited liability company (“COG” and together with EIF, VED II, VED I and WGLM, “Sellers”), Buyer and Sellers have agreed to establish an escrow arrangement as Buyer’s recourse for payment of any adjustment payment due under Section 2.3(d)(i) of the Purchase Agreement;

WHEREAS, a condition to the consummation of the transactions contemplated by the Purchase Agreement is that the Interested Parties enter into this Agreement;

WHEREAS, pursuant to the Purchase Agreement, Sellers have authorized Sellers’ Representative to enter into this Agreement on their behalf; and

WHEREAS, the Interested Parties wish to appoint Citibank as Escrow Agent to receive, hold and invest the Escrow Deposit (as defined below) to satisfy a portion of the Sellers’ obligations under Section 2.3(d)(i) of the Purchase Agreement and to disburse said Escrow Deposit in accordance with the terms set forth herein, and Citibank is willing to accept such appointment and to so act as Escrow Agent, in each case upon the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the mutual representations, warranties and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby irrevocably acknowledged, the parties hereto agree as follows:

1. Appointment.

Buyer and Sellers’ Representative hereby do appoint and designate Citibank as the Escrow Agent for the purposes set forth herein, and Citibank does hereby accept such appointment and

B-1-1

agrees to hold, safeguard and disburse the Escrow Property under the terms and conditions set forth herein.

2. Establishment of Escrow Account.

On the Effective Date, pursuant to Section 2.2(d)(iii) and Section 2.5(a)(i) of the Purchase Agreement, Buyer is depositing with the Escrow Agent by wire transfer of immediately available funds the amount of $10,000,000 (the “Escrow Deposit”, and together with any investment income or proceeds received from the investment thereof from time to time pursuant to Section 4 below, collectively, the “Escrow Property”), and the Escrow Agent shall hold the Escrow Property in one separate and distinct account established with the Escrow Agent (the “Escrow Account”).

3. Claims and Payment; Release from Escrow.

The Escrow Property shall be distributed by the Escrow Agent solely in accordance with the following:

(a) Joint Directions. Upon receipt of a joint written instruction executed by an Authorized Person of each of Buyer and Sellers’ Representative (a “Joint Direction”) with respect to the Escrow Property, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of a Joint Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Joint Direction. Notwithstanding anything to the contrary herein, the Interested Parties agree, solely as between themselves, that each Interested Party shall execute and deliver Joint Directions to the Escrow Agent from time to time as required pursuant to the Purchase Agreement.

(b) Final Award. If at any time either of the Interested Parties receives a final, non-appealable decision, writ, order or decree rendered by a court or binding arbitrator to enforce an award (a “Final Award”) with respect to the Escrow Property, such Interested Party may concurrently or promptly thereafter deliver to the Escrow Agent and the other Interested Party a copy of such Final Award (certified by the delivering Interested Party as being a true and correct copy thereof), along with instructions from such Interested Party for payment in accordance with such Final Award (collectively, a “Final Award Direction”). Upon receipt by the Escrow Agent of a Final Award Direction from any Interested Party, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt by the Escrow Agent of the Final Award Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Final Award Direction.

(c) No Obligation to Replenish. With respect to any distributions by the Escrow Agent to an Interested Party, such distributions shall reduce the amount of the Escrow Property, and no Interested Party shall be obligated to replenish such distributed amounts.

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4. Investment of Funds.

(a) Unless otherwise instructed in writing by the Parties, the Escrow Agent shall invest the Escrow Funds in an interest-bearing deposit obligation of Citibank N.A. insured by the Federal Deposit Insurance Corporation (“FDIC”) to the applicable limits. The Interested Parties acknowledge that the initial interest rate is subject to change from time to time and shall be reflected in the monthly statement provided to the Parties. The Escrow Funds shall at all times remain available for distribution in accordance with Section 3 above. The Escrow Agent shall invest the Escrow Deposit on the date of deposit, provided that it is received on or before 11:00 a.m. New York City time. Any Escrow Deposit received by the Escrow Agent after 11:00 a.m. New York City time shall be treated as if received on the following Business Day. For purposes of this Agreement, “Business Day” shall mean any day that the Escrow Agent is open for business.

(b) The Escrow Agent shall send an account statement to each of the Interested Parties on a monthly basis reflecting activity in the Escrow Account for the preceding month.

(c) The Escrow Agent is hereby authorized and directed to sell or redeem any such investments as it deems necessary to make any payments or distributions required under this Agreement. The Escrow Agent shall have no responsibility or liability for any loss in the value of any investment made pursuant to this Agreement, or for any loss, cost or penalty resulting from any sale or liquidation of the Escrow Property, except in the event of gross negligence, fraud or willful misconduct. The Escrow Agent is hereby authorized to execute purchases and sales of investments through the facilities of its own trading or capital markets operations or those of any affiliated entity. The Escrow Agent does not have a duty nor will it undertake any duty to provide investment advice.

(d) The Escrow Agent shall disburse all investment income on an annual basis to each Seller in accordance with the allocation set forth on Schedule D.

5. Tax Matters.

(a) The Interested Parties agree that any earnings or proceeds received on or distributions of earnings or proceeds from the Escrow Property during a calendar year period shall be treated as the income of each Seller in accordance with the allocation set forth on Schedule D and shall be reported on an annual basis by the Escrow Agent on the appropriate United States Internal Revenue Service (“IRS”) Form 1099 (or IRS Form 1042-S), as required pursuant to the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder. The Interested Parties and the Escrow Agent agree that the Escrow Agent will not be responsible for providing tax reporting and withholding for payments which are for compensation for services performed by an employee or independent contractor.

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completeness of any such calculations or information or for the failure of the Interested Parties to provide such calculations or information.

(c) The Interested Parties shall each, upon the execution of this Agreement, provide the Escrow Agent with a duly completed and properly executed IRS Form W-9 or applicable IRS Form W-8, in the case of a non-U.S. person, for each payee and each Seller together with any other documentation and information reasonably requested by the Escrow Agent in connection with the Escrow Agent’s tax reporting obligations under the Code and the regulations thereunder. With respect to the Escrow Agent’s tax reporting obligations under the Code, the Foreign Account Tax Compliance Act and the Foreign Investment in Real Property Tax Act and any other applicable law or regulation, the Interested Parties understand that, in the event valid U.S. tax forms or other required supporting documentation are not provided to the Escrow Agent, the Escrow Agent may be required to withhold tax from the Escrow Property and report account information on any earnings, proceeds or distributions from the Escrow Property.

(d) Should the Escrow Agent become liable for the payment of taxes other than taxes imposed on or with respect to the income or profits of the Escrow Agent, including withholding taxes relating to any funds, including interest and penalties thereon, held by it pursuant to this Agreement or any payment made hereunder (any such taxes (“Indemnified Taxes”), the Escrow Agent shall satisfy such liability to the extent possible from the Escrow Property. The Interested Parties agree, jointly and severally, to indemnify and hold the Escrow Agent harmless pursuant to Section 7(c) hereof from any liability or obligation on account of Indemnified Taxes that may be assessed or asserted against the Escrow Agent.

(e) The Escrow Agent’s rights under this Section 5 shall survive the termination of this Agreement or the resignation or removal of the Escrow Agent.

6. Concerning the Escrow Agent.

(a) Escrow Agent Duties. Each Interested Party acknowledges and agrees that (i) the duties, responsibilities and obligations of the Escrow Agent shall be limited to those expressly set forth in this Agreement, each of which is administrative or ministerial (and shall not be construed to be fiduciary) in nature, and no duties, responsibilities or obligations shall be inferred or implied, (ii) the Escrow Agent shall not be responsible for any of the agreements referred to or described herein (including, without limitation, the Purchase Agreement), or for determining or compelling compliance therewith, and shall not otherwise be bound thereby, and (iii) the Escrow Agent shall not be required to expend or risk any of its own funds to satisfy payments from the Escrow Property hereunder.

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were foreseeable or contemplated. The Escrow Agent shall be entitled to rely upon any instruction, notice, request or other instrument delivered to it and believed by the Escrow Agent, acting in good faith, to be genuine and what it purports to be without being required to investigate the authenticity or validity thereof, or the truth or accuracy of any information stated therein. The Escrow Agent may act in reliance upon any signature believed by it, acting in good faith, to be genuine and may assume that any person that is designated as an Authorized Person purporting to make any statement, execute any document, or send any instruction in connection with the provisions hereof has been duly authorized to do so. The Escrow Agent may consult with counsel satisfactory to it (provided that such counsel is selected with reasonable care), and the opinion or advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it in good faith and in accordance with the opinion and advice of such counsel in the absence of gross negligence, bad faith, fraud or willful misconduct (as finally adjudicated by a court of competent jurisdiction). The Escrow Agent may perform any and all of its duties through its agents, representatives, attorneys, custodians and/or nominees. The Escrow Agent shall not incur any liability for not performing any act or fulfilling any obligation hereunder by reason of any occurrence beyond its reasonable control (including, without limitation, any provision of any present or future law or regulation or any act of any governmental authority, any act of God or war or terrorism, or the unavailability of the Federal Reserve Bank wire services or any electronic communication facility); provided that the Escrow Agent shall use its best efforts to avoid and mitigate the adverse impacts of such occurrence and remedy the same as promptly as possible to resume performance.

(c) Reliance on Orders. The Escrow Agent is authorized to comply with Final Awards with respect to the Escrow Property, without determination by the Escrow Agent of such court's jurisdiction in the matter. If any portion of the Escrow Property is at any time attached, garnished or levied upon under any Final Award, or in case the payment, assignment, transfer, conveyance or delivery of any such property shall be stayed or enjoined by any Final Award, or in case any Final Award shall be made or entered by any court affecting such property or any part thereof, then and in any such event, the Escrow Agent is authorized to rely upon and comply with any such Final Award which it is advised is binding upon it without the need for appeal or other action; and if the Escrow Agent complies with any such Final Award, it shall not be liable to any of the Interested Parties or to any other person or entity by reason of such compliance even though such Final Award may be subsequently reversed, modified, annulled, set aside or vacated.

(d) Inspection. All funds or other property held as part of the Escrow Property shall at all times be clearly identified as being held by the Escrow Agent hereunder.

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close of the last preceding month to the date of such removal or resignation, setting forth all receipts, disbursements and other transactions with respect to the Escrow Property effected by it, and showing all cash, securities and other property held in the Escrow Account within the terms hereof at the end of such month or as of the date of such removal or resignation, as the case may be.

7. Compensation, Expense Reimbursement and Indemnification.

(a) Compensation. Each of the Interested Parties covenants and agrees to pay one half of the Escrow Agent’s compensation specified in Schedule A. Each of the Interested Parties covenants and agrees to pay to the Escrow Agent one half of all reasonable out-of-pocket expenses actually incurred by the Escrow Agent in the performance of its role under this Agreement (including, but not limited to, any reasonable attorney’s fees incurred in connection with the preparation and negotiation of this Agreement, which shall be due and payable upon the execution of this Agreement).

(b) Security and Offset. The Interested Parties hereby grant to the Escrow Agent a first lien upon, and right of offset against, the Escrow Property with respect to any fees or expenses due to the Escrow Agent hereunder (including any claim for indemnification hereunder). In the event that any fees or expenses, or any other obligations owed to the Escrow Agent (or its counsel) are not paid to the Escrow Agent within thirty (30) calendar days following the presentment of an invoice for the payment of such fees and expenses or the demand for such payment, then the Escrow Agent shall provide notice thereof to Sellers’ Representative and Buyer and if such invoice is not paid by the Interested Parties within ten (10) days after receipt of such notice, the Escrow Agent may, without further action or notice, pay such fees and expenses from the Escrow Property and may sell, convey or otherwise dispose of any Escrow Property for such purpose.

(c) Indemnification. Each of the Interested Parties covenants and agrees, jointly and severally, to indemnify the Escrow Agent and its employees, officers, directors, affiliates, and agents (each, an “Indemnified Party”) for, hold each Indemnified Party harmless from, and defend each Indemnified Party against, any and all claims, losses, actions, liabilities, costs, damages and expenses of any nature incurred by any Indemnified Party, arising out of or in connection with this Agreement or with the administration of its duties hereunder, including, but not limited to, reasonable attorney’s fees, costs and expenses, except to the extent such loss, liability, damage, cost or expense shall have been finally adjudicated by a court of competent jurisdiction to have resulted from the Indemnified Party's own gross negligence, fraud or willful misconduct. The foregoing indemnification and agreement to hold harmless shall survive the termination of this Agreement and the resignation or removal of the Escrow Agent. Although certain of the Interested Parties’ obligations pursuant to this Section 7(c) are joint and several, the Interested Parties agree that as between the Interested Parties, such obligations shall be apportioned pro-rata in accordance with their relative obligation in accordance with the following sentence. Notwithstanding anything to the contrary herein, the Interested Parties agree, solely as between themselves, that any obligation for indemnification under this Section 7(c) (or for Indemnified Taxes or reasonable fees and expenses of the Escrow Agent described in Section 8) shall be borne by the party or parties determined by a court of competent jurisdiction to be responsible for causing the loss, damage, liability, cost or

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expense against which the Escrow Agent is entitled to indemnification or, if no such determination is made, then one-half by Buyer and one-half by Sellers’ Representative. This Section 7(c) shall not apply to claims for indemnification in respect of taxes.

8. Dispute Resolution.

In the event of any disagreement among any of the Interested Parties to this Agreement, or between any of them and any other person, resulting in adverse claims or demands being made with respect to the subject matter of this Agreement, or in the event that the Escrow Agent, in good faith, is in doubt as to any action it should take hereunder, the Escrow Agent may, at its option, refuse to comply with any claims or demands and refuse to take any other action hereunder, so long as such disagreement continues or such doubt exists, and in any such event, the Escrow Agent shall not be liable in any way or to any person for its failure or refusal to act (except to the extent of the Escrow Agent’s gross negligence, fraud or willful misconduct), and the Escrow Agent shall be entitled to continue to so refuse to act and refrain from acting until the Escrow Agent shall have received (a) a Final Award or (b) a written agreement executed by each of the Interested Parties involved in such disagreement, in which case the Escrow Agent shall be authorized to disburse the Escrow Property in accordance with such Final Award or fully executed agreement. The Escrow Agent shall be entitled to receive (from and at the expense of the presenting party) an opinion of counsel to the effect that any Final Award is final and not subject to appeal. The Escrow Agent shall have the option, after thirty (30) calendar days’ notice to the Interested Parties of its intention to do so, to petition (by means of filing an action in interpleader or any other appropriate method) any court of competent jurisdiction, for instructions with respect to any dispute or uncertainty, and to the extent required or permitted by law, pay into such court the Escrow Property for holding and disposition in accordance with the instructions of such court. The actual, out-of-pocket costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Escrow Agent in connection with such proceeding shall be paid by, and be the joint and several obligation of, the Interested Parties.

9. Entire Agreement; Exclusive Benefit; Assignment.

This Agreement constitutes the entire agreement among the Interested Parties and the Escrow Agent and sets forth in its entirety the obligations and duties of the Escrow Agent with respect to the Escrow Property. As between Buyer and Sellers’ Representative, nothing in this Agreement shall override or amend any provision of the Purchase Agreement and, to the extent there is a conflict between the terms of this Agreement and the Purchase Agreement, the Purchase Agreement shall control. This Agreement is for the exclusive benefit of the parties to this Agreement and their respective permitted successors, and shall not be deemed to give, either expressly or implicitly, any legal or equitable right, remedy, or claim to any other entity or person whatsoever. No party may assign any of its rights or obligations under this Agreement without the prior written consent of the other parties (which consent shall not be unreasonably withheld or delayed). Notwithstanding anything to the contrary herein, (i) the Sellers’ Representative may assign this Agreement and all of its rights and obligations hereunder to any successor Sellers’ Representative appointed in accordance with Section 11.15(c) of the Purchase Agreement, provided, however, that, such assignment shall be subject to completion by the Escrow Agent to its satisfaction of its “Know Your Customer” review of such assignee and (ii) the Buyer may transfer and assign its rights and obligations under this Agreement without the prior written consent of the Sellers’ Representative by way of collateral assignment to any bank,

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financing institution or other lender providing financing to Buyer now or in the future or to an affiliate of Buyer or to any successor to Buyer by merger, consolidation or reorganization, provided, that, such successor will own all or substantially all of the assets of Buyer, provided, further, however, that, such assignment shall be subject to (x) completion by the Escrow Agent to its satisfaction of its “Know Your Customer” review of such assignee and (y) the Escrow Agent’s satisfaction with the indemnity provided by such assignee to the Escrow Agent.


10.	Resignation and Removal.

(a) The Interested Parties may remove the Escrow Agent at any time by giving to the Escrow Agent thirty (30) calendar days’ prior written notice of removal signed by an Authorized Person of each of the Interested Parties. The Escrow Agent may resign at any time by giving to each of the Interested Parties thirty (30) calendar days’ prior written notice of resignation.

(b) Within thirty (30) calendar days after giving the foregoing notice of removal to the Escrow Agent or within thirty (30) calendar days after receiving the foregoing notice of resignation from the Escrow Agent, the Interested Parties shall appoint a successor escrow agent and give notice of such successor escrow agent to the Escrow Agent. If a successor escrow agent has not accepted such appointment by the end of such thirty (30)-day period, the Escrow Agent may either (i) safe keep the Escrow Property until a successor escrow agent is appointed, without any obligation to invest the same or continue to perform under this Agreement (other than the obligation to retain and safeguard the Escrow Property), or (ii) apply to a court of competent jurisdiction for the appointment of a successor escrow agent or for other appropriate relief.

(c) Upon receipt of notice of the identity of the successor escrow agent signed by an Authorized Person of each of the Interested Parties, the Escrow Agent shall either deliver the Escrow Property then held hereunder to the successor escrow agent, less the Escrow Agent’s fees, costs and expenses, or hold such Escrow Property (or any portion thereof) pending distribution, until all such fees, costs and expenses are paid to it. Upon delivery of the Escrow Property to the successor escrow agent in accordance herewith, the Escrow Agent shall have no further duties, responsibilities or obligations hereunder.

11. Security Procedure.

In the event Escrow Fund transfer instructions are given by or on behalf of an Interested Party, whether in writing, or otherwise, Escrow Agent shall seek confirmation of such instructions by telephone call-back to the person or persons designated on Schedule B or C hereto as applicable, and Escrow Agent may rely upon the confirmation of anyone purporting to be the person or persons so designated. The persons and telephone numbers for call-backs may be changed only in a writing actually received and acknowledged by Escrow Agent.


12.	Governing Law; Jurisdiction; Waivers.

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and state courts located in the Borough of Manhattan, City, County and State of New York, for any dispute arising from or related to this Agreement and/or any proceedings commenced regarding this Agreement. The parties irrevocably submit to the jurisdiction of such courts for the determination of all issues in such proceedings and irrevocably waive any objection to venue or inconvenient forum for any proceeding brought in any such court. The parties irrevocably and unconditionally waive any right to trial by jury with respect to any proceeding relating to this Agreement.


13.	Representations and Warranties.

Each of the parties represents and warrants that it has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder; and this Agreement has been duly approved by all necessary action and constitutes its valid and binding agreement enforceable in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting the enforcement of creditors’ rights and subject to general equity principles.


14.	Notices; Instructions.

(a) Any notice or instruction hereunder shall be in writing in English, and may be sent by (i) secure file transfer or (ii) electronic mail with a scanned attachment thereto of an executed notice or instruction, and shall be effective upon actual receipt by the Escrow Agent in accordance with the terms hereof. Any notice or instruction must be executed by an authorized person of an Interested Party (the person(s) so designated from time to time, the “Authorized Persons”). Each of the applicable persons designated on Schedule B and Schedule C attached hereto have been duly appointed to act as Authorized Persons hereunder and individually have full power and authority to execute any notices or instructions, to amend, modify or waive any provisions of this Agreement, and to take any and all other actions permitted under this Agreement, all without further consent or direction from, or notice to, it or any other party. Any notice or instruction must be originated from a corporate domain. Any change in designation of Authorized Persons shall be provided by written notice, signed by an Authorized Person, and actually received and acknowledged by the Escrow Agent. Any communication from the Escrow Agent that the Escrow Agent deems to contain confidential, proprietary, and/or sensitive information shall be encrypted in accordance with the Escrow Agent’s internal procedures. The Interested Parties agree that the above security procedures are commercially reasonable.

If to Buyer:

Meade Pipeline Investment, LLC
c/o NextEra Energy Partners GP, Inc.
700 Universe Boulevard
Juno Beach, FL 33408

Attention: Charles E. Sieving, General Counsel
Email: Charles.sieving@nexteraenergy.com

If to Sellers’ Representative:

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WGL Midstream MP, LLC

c/o WGL Midstream, Inc.

1000 Maine Ave, SW

Washington, D.C. 20024

Attention: Fred Dalena, Vice President

Email: Fred.Dalena@altagas.ca

If to the Escrow Agent:

Citibank, N.A.

Agency & Trust

388 Greenwich Street, 14th Floor

New York, NY 10013

Attn.: Albert Mari, Jr.

Telephone: (212) 816-1807

E-mail: cts.spag@citi.com/ albert.p.mari@citi.com

(b) Any funds to be paid by the Escrow Agent hereunder shall be sent by wire transfer as instructed by the Interested Party or Interested Parties in accordance with the applicable provisions of Section 3.

(c) Payments to the Escrow Agent shall be sent by wire transfer pursuant to the following instructions: CITIBANK, N.A., ABA: 0210-0008-9; Account Name: Escrow Concentration Account; A/C#.: 36855852; Ref: 12374700 – Meade/WGL Escrow A/C


15.	Amendment; Waiver.

Any amendment of this Agreement shall be binding only if evidenced by a writing signed by each of the parties to this Agreement. No waiver of any provision hereof shall be effective unless expressed in writing and signed by the party to be charged.


16.	Severability.

The invalidity, illegality or unenforceability of any provision of this Agreement shall in no way affect the validity, legality or enforceability of any other provision. If any provision of this Agreement is held to be unenforceable as a matter of law, the other provisions shall not be affected thereby and shall remain in full force and effect.


17.	Mergers and Conversions.

Any corporation or entity into which the Escrow Agent may be merged or converted or with which it may be consolidated, or any corporation or entity resulting from any merger, conversion or consolidation to which the Escrow Agent will be a party, or any corporation or entity succeeding to the business of the Escrow Agent will be the successor of the Escrow Agent hereunder without the execution or filing of any paper with any party or any further act on the part of any of the parties except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding.

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18.	Termination.

This Agreement shall terminate and the Escrow Account shall be closed upon the distribution of all Escrow Property from the Escrow Account established hereunder in accordance with the terms of this Agreement, subject, however, to the survival of obligations specifically contemplated in this Agreement to so survive.


19.	Counterparts.

This Agreement may be executed simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement. Scanned signatures on counterparts of this Agreement shall be deemed original signatures with all rights accruing thereto except in respect to any non-US entity, whereby originals are required.


20.	Headings.

The section headings contained in this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement, and shall not be referred to in connection with the construction or interpretation of this Agreement.

[Remainder of Page Left Intentionally Blank]

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IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed by a duly authorized representative as of the day and year first written above.

CITIBANK, N.A.,
as Escrow Agent

By:

Name:

Title:
Date:


	MEADE PIPELINE INVESTMENT, LLC

By:

Name:

Title:
Date:

WGL MIDSTREAM MP, LLC

By:

Name:

Title:
Date:

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Exhibit B-2

Form of Indemnity Escrow Agreement

ESCROW AGREEMENT (INDEMNITY)

This ESCROW AGREEMENT (INDEMNITY) (this “Agreement”), dated as of [ ], 20[_] (the “Effective Date”), is entered into by and among Meade Pipeline Investment, LLC, a Delaware limited liability company (“Buyer”), WGL Midstream MP, LLC, a Delaware limited liability company (“Sellers’ Representative”), acting as representative of Sellers (as defined below), and Citibank, N.A., a national banking association organized and existing under the laws of the United States of America (“Citibank”). Citibank acting through its Agency and Trust Division, solely in its capacity as escrow agent under this Agreement, and any successors appointed pursuant to the terms hereof, is referred to herein as the “Escrow Agent”. Buyer and Sellers’ Representative are collectively referred to herein as the “Interested Parties”.

WHEREAS, pursuant to that certain Purchase and Sale Agreement, dated as of September 29, 2019 (the “Purchase Agreement”), by and among Buyer, EIF Meade Holdings, LLC, a Delaware limited liability company (“EIF”), VED NPI II, LLC, a Delaware limited liability company (“VED II”), VED NPI I, LLC, a Delaware limited liability company (“VED I”), WGL Midstream MP, LLC, a Delaware limited liability company (“WGLM”), and COG Holdings LLC, a Delaware limited liability company (“COG” and together with EIF, VED II, VED I and WGLM, “Sellers”), Buyer and Sellers have agreed to establish an escrow arrangement as the sole recourse for payment of Sellers’ indemnification obligations under Section 9.2(a)(ii) and Section 9.2(a)(iii) of the Purchase Agreement;

WHEREAS, a condition to the consummation of the transactions contemplated by the Purchase Agreement is that the Interested Parties enter into this Agreement;

WHEREAS, pursuant to the Purchase Agreement, Sellers have authorized Sellers’ Representative to enter into this Agreement on their behalf; and

WHEREAS, the Interested Parties wish to appoint Citibank as Escrow Agent to receive, hold and invest the Escrow Deposit (as defined below) to satisfy Sellers’ indemnification obligations under Section 9.2(a)(ii) and Section 9.2(a)(iii) of the Purchase Agreement and to disburse said Escrow Deposit in accordance with the terms set forth herein, and Citibank is willing to accept such appointment and to so act as Escrow Agent, in each case upon the terms and conditions of this Agreement.

1. Appointment.

Buyer and Sellers’ Representative hereby do appoint and designate Citibank as the Escrow Agent for the purposes set forth herein, and Citibank does hereby accept such appointment and

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agrees to hold, safeguard and disburse the Escrow Property under the terms and conditions set forth herein.

2. Establishment of Escrow Account.

On the Effective Date, pursuant to Section 2.2(d)(iii) and Section 2.5(a)(ii) of the Purchase Agreement, Buyer is depositing with the Escrow Agent by wire transfer of immediately available funds the amount of $[___] (the “Escrow Deposit”, and together with any investment income or proceeds received from the investment thereof from time to time pursuant to Section 4 below, collectively, the “Escrow Property”), and the Escrow Agent shall hold the Escrow Property in one separate and distinct account established with the Escrow Agent (the “Escrow Account”).

3. Claims and Payment; Release from Escrow.

The Escrow Property shall be distributed by the Escrow Agent solely in accordance with the following:

(i) In the event of any claim for indemnification by any Buyer Indemnified Party (as defined in the Purchase Agreement) under Section 9.2(a)(ii) or Section 9.2(a)(iii) of the Purchase Agreement (an “Indemnification Claim”), Buyer shall

¹NTD: To be an amount equal to the Indemnity Escrow Amount as determined on the Closing Date.

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have the right to seek payment of any amount to which any Buyer Indemnified Party is entitled pursuant to the terms and provisions of the Purchase Agreement (an “Indemnification Amount”) out of the Escrow Property by delivering written notice containing the information set forth below to the Escrow Agent with a copy to Sellers’ Representative (the “Indemnification Notice”). Each Indemnification Notice must (A) state the actual or estimated dollar amount sought to be paid from the Escrow Property and include a certification that such amount represents Buyer’s good faith estimate of the amount to which the Buyer Indemnified Party would be entitled upon resolution of such Indemnification Claim and (B) have attached thereto a copy of the Claim Notice (as defined in the Purchase Agreement) or the notice delivered under Section 9.3(d) of the Purchase Agreement, as applicable, with respect to such Indemnification Claim. Prior to 5:00 p.m., Eastern Time on the thirtieth (30th) day after Sellers’ Representative’s receipt of the Indemnification Notice, Sellers’ Representative may deliver notice to Buyer and the Escrow Agent (a “Counter Indemnification Notice”) disputing such Indemnification Claim in whole or in part (any disputed amount, the “Contested Amount”). The Escrow Agent shall not inquire into or consider whether an Indemnification Claim complies with the requirements of the Purchase Agreement.

(ii) If, prior to 5:00 p.m., Eastern Time on the thirtieth (30th) day after Sellers’ Representative’s receipt of an Indemnification Notice, Sellers’ Representative does not deliver a Counter Indemnification Notice with respect to such Indemnification Notice to the Escrow Agent and Buyer, then Buyer may thereafter deliver a notice to the Escrow Agent with a copy to Sellers’ Representative (an “Uncontested Direction”) instructing the Escrow Agent to disburse the Indemnification Amount set forth in such Indemnification Notice from the Escrow Property to Buyer. Upon receipt by the Escrow Agent of such Uncontested Direction, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of such Uncontested Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Uncontested Direction.

(iii) If, prior to 5:00 p.m., Eastern Time on the thirtieth (30th) day after Sellers’ Representative’s receipt of an Indemnification Notice, Sellers’ Representative delivers a Counter Indemnification Notice with respect to such Indemnification Notice to the Escrow Agent and Buyer, then Buyer may thereafter deliver an Uncontested Direction to the Escrow Agent, with a copy to Sellers’ Representative, instructing the Escrow Agent to disburse an amount, if any, equal to the Indemnification Amount set forth in such Indemnification Notice minus the Contested Amount with respect to such Indemnification Notice from the Escrow Property to Buyer. Upon receipt by the Escrow Agent of such Uncontested Direction, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of such Uncontested Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Uncontested Direction. Thereafter, the Escrow Agent shall continue to hold and shall make disbursement of Escrow Property with respect to such Contested Amount only in accordance with (A) a Joint Direction or (B) a Final Award Direction (resolved as between Buyer and Sellers in accordance with the terms of the Purchase Agreement). Upon receipt of a Joint Direction or Final Award Direction as specified in the preceding sentence, the Escrow Agent shall disburse to Buyer the dollar amount specified in the Joint Direction or Final Award Direction, in accordance with Section 3(a) or Section 3(b), as applicable.

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(d) Notices. The Escrow Agent shall conclusively presume that any Indemnification Notice or Counter Indemnification Notice delivered to it was simultaneously delivered to Buyer or the Sellers’ Representative as provided above.

(e) Step-Down Release.

(i) On or after the Initial Indemnity Escrow Release Date or the Final Indemnity Escrow Release Date (each as defined below), as applicable, Sellers’ Representative shall have the right to seek payment of the amount to which Sellers are entitled under Section 9.5(b)(i) of the Purchase Agreement out of the Escrow Property by delivering notice containing the information set forth below to the Escrow Agent with a copy to Buyer (the “Release Notice”). Each Release Notice must (A) state the dollar amount sought to be paid from the Escrow Property and include a certification that such amount represents Sellers’ Representative’s good faith estimate of the amount to which the Sellers are entitled pursuant to Section 9.5(b)(i) of the Purchase Agreement (such amount, the “Released Amount”) and (B) include the Sellers’ Representative’s basis for calculating the Released Amount in accordance with Section 9.5(b)(i)(A), (B) or (C) of the Purchase Agreement, as applicable. Prior to 5:00 p.m. Central Time on the tenth (10th) Business Day after Buyer’s receipt of the Release Notice, Buyer may deliver notice to Sellers’ Representative and the Escrow Agent (a “Counter Release Notice”) disputing such Released Amount in whole or in part (any disputed amount, the “Contested Released Amount”). The Escrow Agent shall not inquire into or consider whether a Release Notice complies with the requirements of the Purchase Agreement. The “Initial Indemnity Escrow Release Date” means the date that is eighteen (18) months after the Effective Date. The “Final Indemnity Escrow Release Date” means the date that is twenty-four (24) months after the Effective Date.

(ii) If, prior to 5:00 p.m. Eastern Time on the tenth (10th) Business Day after Buyer’s receipt of a Release Notice, Buyer does not deliver a Counter Release Notice with respect to such Release Notice to the Escrow Agent and Sellers’ Representative, then Sellers’ Representative may thereafter deliver a notice to the Escrow Agent with a copy to Buyer (an “Uncontested Release Direction”) instructing the Escrow Agent to disburse the Released Amount set forth in such Release Notice from the Escrow Property to Sellers. Upon receipt by the Escrow Agent of such Uncontested Release Direction, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of such Uncontested Release Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Uncontested Release Direction.

(iii) If, prior to 5:00 p.m. Eastern Time on the tenth (10th) Business Day after Buyer’s receipt of a Release Notice, Buyer delivers a Counter Release Notice with respect to such Release Notice to the Escrow Agent and Sellers’ Representative, then Sellers’ Representative may thereafter deliver an Uncontested Release Direction to the Escrow Agent, with a copy to Buyer, instructing the Escrow Agent to disburse an amount, if any, equal to the Release Amount set forth in such Release Notice minus the Contested Release Amount with respect to such Release Notice from the Escrow Property to Sellers. Upon receipt by the Escrow Agent of such Uncontested Release Direction, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of such Uncontested Release Direction, disburse all or a portion of the Escrow Property

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strictly in accordance with such Uncontested Release Direction. Thereafter, the Escrow Agent shall continue to hold and shall make disbursement of Escrow Property with respect to such Contested Release Amount only in accordance with (A) a Joint Direction or (B) a Final Award Direction (resolved as between Buyer and Sellers in accordance with the terms of the Purchase Agreement). Upon receipt of a Joint Direction or Final Award Direction as specified in the preceding sentence, the Escrow Agent shall disburse to Sellers the dollar amount specified in the Joint Direction or Final Award Direction, in accordance with Section 3(a) or Section 3 (b), as applicable.

(f) No Obligation to Replenish. With respect to any distributions by the Escrow Agent to an Interested Party, such distributions shall reduce the amount of the Escrow Property, and no Interested Party shall be obligated to replenish such distributed amounts.

4. Investment of Funds.

(b) The Escrow Agent shall send an account statement to each of the Interested Parties on a monthly basis reflecting activity in the Escrow Account for the preceding month.

(d) The Escrow Agent shall disburse all investment income on an annual basis to each Seller in accordance with the allocation set forth on Schedule D.

5. Tax Matters.

(a) The Interested Parties agree that any earnings or proceeds received on or distributions of earnings or proceeds from the Escrow Property during a calendar year

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period shall be treated as the income of each Seller in accordance with the allocation set forth on Schedule D and shall be reported on an annual basis by the Escrow Agent on the appropriate United States Internal Revenue Service (“IRS”) Form 1099 (or IRS Form 1042-S), as required pursuant to the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder. The Interested Parties and the Escrow Agent agree that the Escrow Agent will not be responsible for providing tax reporting and withholding for payments which are for compensation for services performed by an employee or independent contractor.

(b) If IRS imputed interest requirements apply, the Interested Parties are solely responsible to inform the Escrow Agent, provide the Escrow Agent with all imputed interest calculations, and the Escrow Agent shall rely solely on such provided calculations and information and shall have no responsibility for the accuracy or completeness of any such calculations or information or for the failure of the Interested Parties to provide such calculations or information.

(e) The Escrow Agent’s rights under this Section 5 shall survive the termination of this Agreement or the resignation or removal of the Escrow Agent.

6. Concerning the Escrow Agent.

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obligations shall be inferred or implied, (ii) the Escrow Agent shall not be responsible for any of the agreements referred to or described herein (including, without limitation, the Purchase Agreement), or for determining or compelling compliance therewith, and shall not otherwise be bound thereby, and (iii) the Escrow Agent shall not be required to expend or risk any of its own funds to satisfy payments from the Escrow Property hereunder.

(b) Liability of Escrow Agent. The Escrow Agent shall not be liable for any damage, loss or injury resulting from any action taken or omitted in the absence of gross negligence, fraud or willful misconduct (as finally adjudicated by a court of competent jurisdiction). In no event shall the Escrow Agent be liable for indirect, incidental, consequential, punitive or special losses or damages (including, but not limited to, lost profits), regardless of the form of action and whether or not any such losses or damages were foreseeable or contemplated. The Escrow Agent shall be entitled to rely upon any instruction, notice, request or other instrument delivered to it and believed by the Escrow Agent, acting in good faith, to be genuine and what it purports to be without being required to investigate the authenticity or validity thereof, or the truth or accuracy of any information stated therein. The Escrow Agent may act in reliance upon any signature believed by it, acting in good faith, to be genuine and may assume that any person that is designated as an Authorized Person purporting to make any statement, execute any document, or send any instruction in connection with the provisions hereof has been duly authorized to do so. The Escrow Agent may consult with counsel satisfactory to it (provided that such counsel is selected with reasonable care), and the opinion or advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it in good faith and in accordance with the opinion and advice of such counsel in the absence of gross negligence, bad faith, fraud or willful misconduct (as finally adjudicated by a court of competent jurisdiction). The Escrow Agent may perform any and all of its duties through its agents, representatives, attorneys, custodians and/or nominees. The Escrow Agent shall not incur any liability for not performing any act or fulfilling any obligation hereunder by reason of any occurrence beyond its reasonable control (including, without limitation, any provision of any present or future law or regulation or any act of any governmental authority, any act of God or war or terrorism, or the unavailability of the Federal Reserve Bank wire services or any electronic communication facility); provided that the Escrow Agent shall use its best efforts to avoid and mitigate the adverse impacts of such occurrence and remedy the same as promptly as possible to resume performance.

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Parties or to any other person or entity by reason of such compliance even though such Final Award may be subsequently reversed, modified, annulled, set aside or vacated.

(d) Inspection. All funds or other property held as part of the Escrow Property shall at all times be clearly identified as being held by the Escrow Agent hereunder.

(e) Accounting. The Escrow Agent shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions with respect to the Escrow Property. The Escrow Agent will send monthly statements to Buyer and Sellers’ Representative. Within fifteen (15) days following the close of each month and within five (5) Business Days after the removal or resignation of the Escrow Agent, the Escrow Agent shall deliver to Buyer and Sellers’ Representative a written account of its administration of the Escrow Account during such month or during the period from the close of the last preceding month to the date of such removal or resignation, setting forth all receipts, disbursements and other transactions with respect to the Escrow Property effected by it, and showing all cash, securities and other property held in the Escrow Account within the terms hereof at the end of such month or as of the date of such removal or resignation, as the case may be.

7. Compensation, Expense Reimbursement and Indemnification.

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expenses, except to the extent such loss, liability, damage, cost or expense shall have been finally adjudicated by a court of competent jurisdiction to have resulted from the Indemnified Party's own gross negligence, fraud or willful misconduct. The foregoing indemnification and agreement to hold harmless shall survive the termination of this Agreement and the resignation or removal of the Escrow Agent. Although certain of the Interested Parties’ obligations pursuant to this Section 7(c) are joint and several, the Interested Parties agree that as between the Interested Parties, such obligations shall be apportioned pro-rata in accordance with their relative obligation in accordance with the following sentence. Notwithstanding anything to the contrary herein, the Interested Parties agree, solely as between themselves, that any obligation for indemnification under this Section 7(c) (or for Indemnified Taxes or reasonable fees and expenses of the Escrow Agent described in Section 8) shall be borne by the party or parties determined by a court of competent jurisdiction to be responsible for causing the loss, damage, liability, cost or expense against which the Escrow Agent is entitled to indemnification or, if no such determination is made, then one-half by Buyer and one-half by Sellers’ Representative. This Section 7(c) shall not apply to claims for indemnification in respect of taxes.

8. Dispute Resolution.

9. Entire Agreement; Exclusive Benefit; Assignment.

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conflict between the terms of this Agreement and the Purchase Agreement, the Purchase Agreement shall control. This Agreement is for the exclusive benefit of the parties to this Agreement and their respective permitted successors, and shall not be deemed to give, either expressly or implicitly, any legal or equitable right, remedy, or claim to any other entity or person whatsoever. No party may assign any of its rights or obligations under this Agreement without the prior written consent of the other parties (which consent shall not be unreasonably withheld or delayed). Notwithstanding anything to the contrary herein, (i) the Sellers’ Representative may assign this Agreement and all of its rights and obligations hereunder to any successor Sellers’ Representative appointed in accordance with Section 11.15(c) of the Purchase Agreement, provided, however, that, such assignment shall be subject to completion by the Escrow Agent to its satisfaction of its “Know Your Customer” review of such assignee and (ii) the Buyer may transfer and assign its rights and obligations under this Agreement without the prior written consent of the Sellers’ Representative by way of collateral assignment to any bank, financing institution or other lender providing financing to Buyer now or in the future or to an affiliate of Buyer or to any successor to Buyer by merger, consolidation or reorganization, provided, that, such successor will own all or substantially all of the assets of Buyer, provided, further, however, that, such assignment shall be subject to (x) completion by the Escrow Agent to its satisfaction of its “Know Your Customer” review of such assignee and (y) the Escrow Agent’s satisfaction with the indemnity provided by such assignee to the Escrow Agent.


10.	Resignation and Removal.

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11. Security Procedure.


12.	Governing Law; Jurisdiction; Waivers.

This Agreement is governed by and shall be construed and interpreted in accordance with the laws of the State of New York without giving effect to the conflict of laws principles thereof. The parties irrevocably and unconditionally submit to the exclusive jurisdiction of the federal and state courts located in the Borough of Manhattan, City, County and State of New York, for any dispute arising from or related to this Agreement and/or any proceedings commenced regarding this Agreement. The parties irrevocably submit to the jurisdiction of such courts for the determination of all issues in such proceedings and irrevocably waive any objection to venue or inconvenient forum for any proceeding brought in any such court. The parties irrevocably and unconditionally waive any right to trial by jury with respect to any proceeding relating to this Agreement.


13.	Representations and Warranties.


14.	Notices; Instructions.

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information shall be encrypted in accordance with the Escrow Agent’s internal procedures. The Interested Parties agree that the above security procedures are commercially reasonable.

If to Buyer:

Meade Pipeline Investment, LLC
c/o NextEra Energy Partners GP, Inc.
700 Universe Boulevard
Juno Beach, FL 33408

Attention: Charles E. Sieving, General Counsel
Email: Charles.sieving@nexteraenergy.com

If to Sellers’ Representative:

WGL Midstream MP, LLC

c/o WGL Midstream, Inc.

1000 Maine Ave, SW

Washington, D.C. 20024

Attention: Fred Dalena, Vice President

Email: Fred.Dalena@altagas.ca

If to the Escrow Agent:

Citibank, N.A.

Agency & Trust

388 Greenwich Street, 14th Floor

New York, NY 10013

Attn.: Albert Mari, Jr.

Telephone: (212) 816-1807

E-mail: cts.spag@citi.com/ albert.p.mari@citi.com


15.	Amendment; Waiver.


16.	Severability.

The invalidity, illegality or unenforceability of any provision of this Agreement shall in no way affect the validity, legality or enforceability of any other provision. If any provision of this

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Agreement is held to be unenforceable as a matter of law, the other provisions shall not be affected thereby and shall remain in full force and effect.


17.	Mergers and Conversions.


18.	Termination.


19.	Counterparts.


20.	Headings.

[Remainder of Page Left Intentionally Blank]

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IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed by a duly authorized representative as of the day and year first written above.

CITIBANK, N.A.,
as Escrow Agent

By:

Name:

Title:
Date:


	MEADE PIPELINE INVESTMENT, LLC

By:

Name:

Title:
Date:

WGL MIDSTREAM MP, LLC

By:

Name:

Title:
Date:

B-2-14

Exhibit B-3

Form of Transfer Tax Escrow Agreement

ESCROW AGREEMENT (TRANSFER TAX)

This ESCROW AGREEMENT (TRANSFER TAX) (this “Agreement”), dated as of [ ], 20[_] (the “Effective Date”), is entered into by and among Meade Pipeline Investment, LLC, a Delaware limited liability company (“Buyer”), WGL Midstream MP, LLC, a Delaware limited liability company (“Sellers’ Representative”), acting as representative of Sellers (as defined below), and Citibank, N.A., a national banking association organized and existing under the laws of the United States of America (“Citibank”). Citibank acting through its Agency and Trust Division, solely in its capacity as escrow agent under this Agreement, and any successors appointed pursuant to the terms hereof, is referred to herein as the “Escrow Agent”. Buyer and Sellers’ Representative are collectively referred to herein as the “Interested Parties”.

WHEREAS, pursuant to that certain Purchase and Sale Agreement, dated as of September 29, 2019 (the “Purchase Agreement”), by and among Buyer, EIF Meade Holdings, LLC, a Delaware limited liability company (“EIF”), VED NPI II, LLC, a Delaware limited liability company (“VED II”), VED NPI I, LLC, a Delaware limited liability company (“VED I”), WGL Midstream MP, LLC, a Delaware limited liability company (“WGLM”), and COG Holdings LLC, a Delaware limited liability company (“COG” and together with EIF, VED II, VED I and WGLM, “Sellers”), Buyer and Sellers have agreed to establish an escrow arrangement as the sole recourse for payment of Sellers’ indemnification obligations under Section 9.2(a)(i) of the Purchase Agreement;

WHEREAS, a condition to the consummation of the transactions contemplated by the Purchase Agreement is that the Interested Parties enter into this Agreement;

WHEREAS, pursuant to the Purchase Agreement, Sellers have authorized Sellers’ Representative to enter into this Agreement on their behalf; and

WHEREAS, the Interested Parties wish to appoint Citibank as Escrow Agent to receive, hold and invest the Escrow Deposit (as defined below) to satisfy Sellers’ indemnification obligations under Section 9.2(a)(i) of the Purchase Agreement and to disburse said Escrow Deposit in accordance with the terms set forth herein, and Citibank is willing to accept such appointment and to so act as Escrow Agent, in each case upon the terms and conditions of this Agreement.

1. Appointment.

Buyer and Sellers’ Representative hereby do appoint and designate Citibank as the Escrow Agent for the purposes set forth herein, and Citibank does hereby accept such appointment and

B-3-1

agrees to hold, safeguard and disburse the Escrow Property under the terms and conditions set forth herein.

2. Establishment of Escrow Account.

On the Effective Date, pursuant to Section 2.2(d)(iii) and Section 2.5(a)(iii) of the Purchase Agreement, Buyer is depositing with the Escrow Agent by wire transfer of immediately available funds the amount of $[25,600,000] (the “Escrow Deposit”, and together with any investment income or proceeds received from the investment thereof from time to time pursuant to Section 4 below, collectively, the “Escrow Property”), and the Escrow Agent shall hold the Escrow Property in one separate and distinct account established with the Escrow Agent (the “Escrow Account”).

3. Claims and Payment; Release from Escrow.

The Escrow Property shall be distributed by the Escrow Agent solely in accordance with the following:

(i) In the event of any claim for indemnification by any Buyer Indemnified Party (as defined in the Purchase Agreement) under Section 9.2(a)(i) of the Purchase

²NTD: To be an amount equal to the Transfer Tax Escrow Amount as determined on the Closing Date.

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Agreement (a “Transfer Tax Claim”), Buyer shall have the right to seek payment of any amount to which any Buyer Indemnified Party is entitled pursuant to the terms and provisions of the Purchase Agreement (a “Transfer Tax Indemnification Amount”) out of the Escrow Property by delivering written notice containing the information set forth below to the Escrow Agent with a copy to Sellers’ Representative (the “Transfer Tax Indemnification Notice”). Each Transfer Tax Indemnification Notice must (A) state the actual or estimated dollar amount sought to be paid from the Escrow Property and include a certification that such amount represents Buyer’s good faith estimate of the amount to which the Buyer Indemnified Party would be entitled upon resolution of such Transfer Tax Claim and (B) have attached thereto a copy of the Claim Notice (as defined in the Purchase Agreement) or the notice delivered under Section 9.3(d) of the Purchase Agreement, as applicable, with respect to such Transfer Tax Claim. Prior to 5:00 p.m., Eastern Time on the thirtieth (30th) day after Sellers’ Representative’s receipt of the Transfer Tax Indemnification Notice, Sellers’ Representative may deliver notice to Buyer and the Escrow Agent (a “Counter Indemnification Notice”) disputing such Transfer Tax Claim in whole or in part (any disputed amount, the “Contested Amount”). The Escrow Agent shall not inquire into or consider whether a Transfer Tax Claim complies with the requirements of the Purchase Agreement.

(ii) If, prior to 5:00 p.m., Eastern Time on the thirtieth (30th) day after Sellers’ Representative’s receipt of a Transfer Tax Indemnification Notice, Sellers’ Representative does not deliver a Counter Indemnification Notice with respect to such Transfer Tax Indemnification Notice to the Escrow Agent and Buyer, then Buyer may thereafter deliver a notice to the Escrow Agent with a copy to Sellers’ Representative (an “Uncontested Direction”) instructing the Escrow Agent to disburse the Transfer Tax Indemnification Amount set forth in such Transfer Tax Indemnification Notice from the Escrow Property to Buyer. Upon receipt by the Escrow Agent of such Uncontested Direction, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of such Uncontested Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Uncontested Direction.

(iii) If, prior to 5:00 p.m., Eastern Time on the thirtieth (30th) day after Sellers’ Representative’s receipt of a Transfer Tax Indemnification Notice, Sellers’ Representative delivers a Counter Indemnification Notice with respect to such Transfer Tax Indemnification Notice to the Escrow Agent and Buyer, then Buyer may thereafter deliver an Uncontested Direction to the Escrow Agent, with a copy to Sellers’ Representative, instructing the Escrow Agent to disburse an amount, if any, equal to the Transfer Tax Indemnification Amount set forth in such Transfer Tax Indemnification Notice minus the Contested Amount with respect to such Transfer Tax Indemnification Notice from the Escrow Property to Buyer. Upon receipt by the Escrow Agent of such Uncontested Direction, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of such Uncontested Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Uncontested Direction. Thereafter, the Escrow Agent shall continue to hold and shall make disbursement of Escrow Property with respect to such Contested Amount only in accordance with (A) a Joint Direction or (B) a Final Award Direction (resolved as between Buyer and Sellers in accordance with the terms of the Purchase Agreement). Upon receipt of a Joint Direction or Final Award Direction as specified in the preceding sentence, the Escrow Agent shall disburse to Buyer the dollar amount specified in the Joint Direction or Final Award

B-3-3

Direction, in accordance with Section 3(a) or Section 3(b), as applicable.

(d) Notices. The Escrow Agent shall conclusively presume that any Transfer Tax Indemnification Notice or Counter Indemnification Notice delivered to it was simultaneously delivered to Buyer or the Sellers’ Representative as provided above.

(e) Step-Down Release.

(i) In accordance with Section 7.3(f) of the Purchase Agreement or, on or after the Transfer Tax Escrow Release Date (as defined below), Sellers’ Representative shall have the right to seek payment of the amount to which Sellers are entitled under Section 7.3(f) or Section 9.5(b)(ii) of the Purchase Agreement, as applicable, out of the Escrow Property by delivering notice containing the information set forth below to the Escrow Agent with a copy to Buyer (the “Release Notice”). Each Release Notice must (A) state the dollar amount sought to be paid from the Escrow Property and include a certification that such amount represents Sellers’ Representative’s good faith estimate of the amount to which the Sellers are entitled pursuant to Section 7.3(f) or Section 9.5(b)(ii) of the Purchase Agreement, as applicable, (such amount, the “Released Amount”) and (B) include the Sellers’ Representative’s basis for calculating the Released Amount in accordance with Section 9.5(b)(ii) of the Purchase Agreement, as applicable. Prior to 5:00 p.m. Central Time on the tenth (10th) Business Day after Buyer’s receipt of the Release Notice, Buyer may deliver notice to Sellers’ Representative and the Escrow Agent (a “Counter Release Notice”) disputing such Released Amount in whole or in part (any disputed amount, the “Contested Released Amount”). The Escrow Agent shall not inquire into or consider whether a Release Notice complies with the requirements of the Purchase Agreement. The “Transfer Tax Escrow Release Date” means the date that is forty-eight (48) months after the Effective Date.

B-3-4

to Sellers. Upon receipt by the Escrow Agent of such Uncontested Release Direction, the Escrow Agent shall promptly, and in any event within two (2) Business Days after receipt of such Uncontested Release Direction, disburse all or a portion of the Escrow Property strictly in accordance with such Uncontested Release Direction. Thereafter, the Escrow Agent shall continue to hold and shall make disbursement of Escrow Property with respect to such Contested Release Amount only in accordance with (A) a Joint Direction or (B) a Final Award Direction (resolved as between Buyer and Sellers in accordance with the terms of the Purchase Agreement). Upon receipt of a Joint Direction or Final Award Direction as specified in the preceding sentence, the Escrow Agent shall disburse to Sellers the dollar amount specified in the Joint Direction or Final Award Direction, in accordance with Section 3(a) or Section 3 (b), as applicable.

4. Investment of Funds.

(b) The Escrow Agent shall send an account statement to each of the Interested Parties on a monthly basis reflecting activity in the Escrow Account for the preceding month.

(d) The Escrow Agent shall disburse all investment income on an annual basis to each Seller in accordance with the allocation set forth on Schedule D.

B-3-5

5. Tax Matters.

(e) The Escrow Agent’s rights under this Section 5 shall survive the termination of this Agreement or the resignation or removal of the Escrow Agent.

B-3-6

6. Concerning the Escrow Agent.

B-3-7

assignment, transfer, conveyance or delivery of any such property shall be stayed or enjoined by any Final Award, or in case any Final Award shall be made or entered by any court affecting such property or any part thereof, then and in any such event, the Escrow Agent is authorized to rely upon and comply with any such Final Award which it is advised is binding upon it without the need for appeal or other action; and if the Escrow Agent complies with any such Final Award, it shall not be liable to any of the Interested Parties or to any other person or entity by reason of such compliance even though such Final Award may be subsequently reversed, modified, annulled, set aside or vacated.

(d) Inspection. All funds or other property held as part of the Escrow Property shall at all times be clearly identified as being held by the Escrow Agent hereunder.

7. Compensation, Expense Reimbursement and Indemnification.

B-3-8

8. Dispute Resolution.

B-3-9

attorneys’ fees and expenses) incurred by the Escrow Agent in connection with such proceeding shall be paid by, and be the joint and several obligation of, the Interested Parties.

9. Entire Agreement; Exclusive Benefit; Assignment.


10.	Resignation and Removal.

B-3-10

11. Security Procedure.


12.	Governing Law; Jurisdiction; Waivers.


13.	Representations and Warranties.


14.	Notices; Instructions.

B-3-11

hereunder and individually have full power and authority to execute any notices or instructions, to amend, modify or waive any provisions of this Agreement, and to take any and all other actions permitted under this Agreement, all without further consent or direction from, or notice to, it or any other party. Any notice or instruction must be originated from a corporate domain. Any change in designation of Authorized Persons shall be provided by written notice, signed by an Authorized Person, and actually received and acknowledged by the Escrow Agent. Any communication from the Escrow Agent that the Escrow Agent deems to contain confidential, proprietary, and/or sensitive information shall be encrypted in accordance with the Escrow Agent’s internal procedures. The Interested Parties agree that the above security procedures are commercially reasonable.

If to Buyer:

Meade Pipeline Investment, LLC
c/o NextEra Energy Partners GP, Inc.
700 Universe Boulevard
Juno Beach, FL 33408

Attention: Charles E. Sieving, General Counsel
Email: Charles.sieving@nexteraenergy.com

If to Sellers’ Representative:

WGL Midstream MP, LLC

c/o WGL Midstream, Inc.

1000 Maine Ave, SW

Washington, D.C. 20024

Attention: Fred Dalena, Vice President

Email: Fred.Dalena@altagas.ca

If to the Escrow Agent:

Citibank, N.A.

Agency & Trust

388 Greenwich Street, 14th Floor

New York, NY 10013

Attn.: Albert Mari, Jr.

Telephone: (212) 816-1807

E-mail: cts.spag@citi.com/ albert.p.mari@citi.com

B-3-12


15.	Amendment; Waiver.


16.	Severability.


17.	Mergers and Conversions.


18.	Termination.


19.	Counterparts.


20.	Headings.

[Remainder of Page Left Intentionally Blank]

B-3-13

IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed by a duly authorized representative as of the day and year first written above.

CITIBANK, N.A.,
as Escrow Agent

By:

Name:

Title:
Date:


	MEADE PIPELINE INVESTMENT, LLC

By:

Name:

Title:
Date:

WGL MIDSTREAM MP, LLC

By:

Name:

Title:
Date:

B-3-14

Exhibit C

GUARANTY

THIS GUARANTY (this “Guaranty”), dated as of September 29, 2019 (the “Effective Date”), is made by NEXTERA ENERGY PARTNERS, LP, a Delaware limited partnership (“Guarantor”), in favor of EIF MEADE HOLDINGS, LLC, a Delaware limited liability company (“EIF”), VED NPI II, LLC, a Delaware limited liability company (“VED II”), COG HOLDINGS LLC, a Delaware limited liability company (“COG”), WGL MIDSTREAM MP, LLC, a Delaware limited liability company (“WGLM”), and VED NPI I, LLC, a Delaware limited liability company (“VED I”, and together with EIF, VED II, COG and WGLM each a “Counterparty” and collectively, the “Counterparties”).

RECITALS:

A.WHEREAS, Counterparties and Guarantor’s affiliate, Meade Pipeline Investment, LLC, a Delaware limited liability company (“Obligor”), concurrently with the execution hereof, are entering into that certain Purchase and Sale Agreement, dated as of the Effective Date, by and among Obligor and the Counterparties (the “Agreement”); and


B.	WHEREAS, Guarantor will directly or indirectly benefit from the Agreement between Obligor and Counterparties.

NOW THEREFORE, in consideration of the foregoing premises and as an inducement for Counterparties’ execution, delivery and performance of the Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Guarantor hereby agrees for the benefit of Counterparties as follows:

* * *

1. GUARANTY. Subject to the terms and provisions hereof, Guarantor, as primary obligor and not merely as surety, hereby absolutely and irrevocably guarantees the timely payment when due of all obligations owing by Obligor to Counterparties arising pursuant to the Agreement on or after the Effective Date (the “Obligations”). This Guaranty shall constitute a guarantee of payment and not of collection. The liability of Guarantor under this Guaranty shall be subject to the following limitations:

(a) Notwithstanding anything herein or in the Agreement to the contrary, the maximum aggregate obligation and liability of Guarantor under this Guaranty, and the maximum recovery from Guarantor under this Guaranty, shall in no event exceed ONE BILLION TWO HUNDRED EIGHTY MILLION

U.S. DOLLARS (U.S. $1,280,000,000) (the “Maximum Recovery Amount”).

(b) The obligation and liability of Guarantor under this Guaranty is specifically limited to payments expressly required to be made or otherwise owed under the Agreement, as well as costs of collection and enforcement of this Guaranty (including, without limitation, attorney’s fees) to the extent reasonably and actually incurred by the Counterparties. In no event, however, shall Guarantor be liable for or obligated to pay any Non-Reimbursable Damages (as defined in the Agreement) unless and except to the extent that such damages are required to be paid by Obligor to a Counterparty pursuant to the Agreement.

2. DEMANDS AND PAYMENT.


(a)	If Obligor fails to pay any Obligation to Counterparties when such Obligation is due and owing under the Agreement (an “Overdue Obligation”), Counterparties may present a written demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty (a “Payment Demand”).

(b)

Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparties is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparties satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 below; and (iii) the specific Overdue Obligation(s) addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor.

(c)

After issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above, Counterparties shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.

(d)

All payments made hereunder shall be made in U.S. Dollars and be made free, without set-off, and clear of, and without deduction for or on account of any present or future stamp or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings of any nature now or hereafter applicable by payment to the account of a Counterparty or as such Counterparty may direct. All amounts due under this Guaranty shall bear interest from the date that such amount first became due and payable under the terms of this Guaranty until the date that it is paid at a rate equal to LIBOR plus two percent (2%).

3. REPRESENTATIONS AND WARRANTIES. Guarantor represents and warrants that:


(a)	it is a limited partnership duly organized and validly existing under the laws of the State of Delaware and has the requisite limited partnership power and authority to execute, deliver and carry out the terms and provisions of the Guaranty;


(b)	no authorization, approval, consent or order of, or registration or filing with, any court or other governmental body having jurisdiction over Guarantor is required on the part of Guarantor for the execution and delivery of this Guaranty; and


(c)	this Guaranty constitutes a valid and legally binding agreement of Guarantor, enforceable against Guarantor in accordance with the terms hereof, except as the enforceability thereof may be limited by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors' rights generally and by general principles of equity.

4. RESERVATION OF CERTAIN DEFENSES. Without limiting Guarantor’s own defenses and rights hereunder, Guarantor reserves to itself all rights, setoffs, counterclaims and other defenses to which Obligor is or may be entitled arising from or out of the Agreement, except for defenses (if any) based upon the bankruptcy, insolvency, dissolution or liquidation of Obligor or any lack of power or authority of Obligor to enter into and/or perform the Agreement.

5. AMENDMENT OF GUARANTY. No term or provision of this Guaranty shall be amended, modified, altered, waived or supplemented except in a writing signed by Guarantor and Counterparties.

6. WAIVERS AND CONSENTS. Subject to and in accordance with the terms and provisions of this Guaranty:

(a)

Except as required in Section 2 above, Guarantor hereby waives (i) notice of acceptance of this Guaranty; (ii) presentment and demand concerning the liabilities of Guarantor; (iii) any right to require that any action or proceeding be brought against Obligor or any other person, or to require that Counterparties seek enforcement of any performance against Obligor or any other person, prior to any action against Guarantor under the terms hereof; or (iv) any requirement that Counterparties protect, secure or perfect any security interest.

(b)

No delay by Counterparties in the exercise of (or failure by Counterparties to exercise) any rights hereunder or under the Agreement shall operate as a waiver of such rights, a waiver of any other rights or a release of Guarantor from its obligations hereunder (with the understanding, however, that the foregoing shall not be deemed to constitute a waiver by Guarantor of any rights or defenses which Guarantor may at any time have pursuant to or in connection with any applicable statutes of limitation). No waiver of any single breach or default under this Guaranty shall be deemed a waiver of any other breach or default.

(c)

Without notice to or the consent of Guarantor, and without impairing or releasing Guarantor’s obligations under this Guaranty, Counterparties may: (i) change the manner, time, place or terms for payment of all or any of the Obligations (including, without limitation, renewals, extensions or other alterations of the Obligations); (ii) release any person (other than Obligor or Guarantor) from liability for payment of all or any of the Obligations; (iii) amend or modify the Agreement; or (iv) receive, substitute, surrender, exchange or release any collateral or other security for any or all of the Obligations.

(d)

Guarantor hereby irrevocably and absolutely waives any and all right of subrogation, contribution, indemnification, reimbursement or similar rights against Obligor with respect to this Guaranty, whether such rights arise under an express or implied contract or by operation of law, it being the intention of Guarantor and the Counterparties that Guarantor shall not be deemed to be a “creditor” (as defined in Section 101 of the U.S. Bankruptcy Code or any other applicable law) of Obligor by reason of the existence of this Guaranty in the event that Obligor becomes a debtor in any proceeding under the U.S. Bankruptcy Code or any other applicable law. In addition, Guarantor shall not exercise any rights which it may acquire by way of subrogation under this Guaranty by any payment made hereunder or otherwise, until all of the liabilities of Obligor to Counterparties under the Agreement have been paid in full. If any amount shall be paid to Guarantor on account of such subrogation rights at any time when all such liabilities and obligations have not been indefeasible paid in full, such amount shall be held in trust for the benefit of the Counterparties and shall forthwith be paid to the Counterparties and applied to such liabilities and obligations, whether matured or unmatured.

7. REINSTATEMENT. Guarantor agrees that this Guaranty shall continue to be effective or shall be reinstated, as the case may be, if all or any part of any payment made hereunder is at any time avoided or rescinded or must otherwise be restored or repaid by Counterparties as a result of the bankruptcy or insolvency of Obligor, all as though such payments had not been made.

8. TERMINATION. Subject to Section 7 above, this Guaranty and the Guarantor’s obligations hereunder will terminate automatically and immediately upon the earlier of (i) the termination of the Agreement, unless the Agreement is terminated as a result of Obligor’s intentional and material breach of the Agreement, or (ii) immediately after the Closing (as such term is defined in the Agreement); provided,

however, that no such termination shall affect Guarantor's liability with respect to any Obligation incurred prior to the time the termination is effective, which Obligation shall remain subject to this Guaranty.

9. NOTICE. Any Payment Demand, notice, request, instruction, correspondence or other document to be given hereunder (herein collectively called “Notice”) by Counterparties to Guarantor, or by Guarantor to Counterparties, as applicable, shall be in writing and may be delivered either by (i) U.S. certified mail with postage prepaid and return receipt requested, or (ii) recognized nationwide courier service with delivery receipt requested, in either case to be delivered to the following address (or to such other U.S. address as may be specified via Notice provided by Guarantor or Counterparties, as applicable, to the other in accordance with the requirements of this Section 9):



	TO GUARANTOR: *		TO COUNTERPARTIES:
	NEXTERA ENERGY PARTNERS, LP 700 Universe Blvd. Juno Beach, Florida 33408 Attn: Treasurer		WGL Midstream MP, LLC, as representative of the Counterparties c/o WGL Midstream, Inc. 1000 Maine Ave, SW Washington, D.C. 20024 Attention: Fred Dalena, Vice President Email: Fred.Dalena@altagas.ca
	[Tel: (561) 694-6204 -- for use in connection with courier deliveries]		[Tel: (412) 973-7507 -- for use in connection with courier deliveries]


*	(NOTE: Copies of any Notices to Guarantor under this Guaranty shall also be sent via facsimile to ATTN: Contracts Group, Legal, Fax No. (561) 625-7504 and ATTN: Credit Department, Fax No. (561) 625-7642. However, such facsimile transmissions shall not be deemed effective for delivery purposes under this Guaranty.)

Any Notice given in accordance with this Section 9 will (i) if delivered during the recipient's normal business hours on any given Business Day, be deemed received by the designated recipient on such date, and (ii) if not delivered during the recipient's normal business hours on any given Business Day, be deemed received by the designated recipient at the start of the recipient's normal business hours on the next Business Day after such delivery.

10. MISCELLANEOUS.


(a)	This Guaranty shall in all respects be governed by, and construed in accordance with, the law of the State of New York, without regard to principles of conflicts of laws thereunder (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).

(b)

This Guaranty shall be binding upon Guarantor and its successors and permitted assigns and inure to the benefit of and be enforceable by Counterparties and their respective successors and permitted assigns. Guarantor may not assign this Guaranty in part or in whole without the prior written consent of Counterparties. Counterparties may not assign their rights or benefits under this Guaranty in part or in whole without the prior written consent of Guarantor.


(c)	This Guaranty embodies the entire agreement and understanding between Guarantor and Counterparties and supersedes all prior agreements and understandings relating to the subject matter hereof.

(d)

The headings in this Guaranty are for purposes of reference only, and shall not affect the meaning hereof. Words importing the singular number hereunder shall include the plural number and vice versa, and any pronouns used herein shall be deemed to cover all genders. The term "person" as used herein means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated association, or government (or any agency or political subdivision thereof).

(e)

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

(f)

Counterparties (by their acceptance of this Guaranty) and Guarantor each hereby irrevocably: (i) consents and submits to the exclusive jurisdiction of the United States District Court for the Southern District of New York, or if that court does not have subject matter jurisdiction, to the exclusive jurisdiction of the Supreme Court of the State of New York, New York County (without prejudice to the right of any party to remove to the United States District Court for the Southern District of New York) for the purposes of any suit, action or other proceeding arising out of this Guaranty or the subject matter hereof or any of the transactions contemplated hereby brought by Counterparties, Guarantor or their respective successors or assigns; and (ii) waives (to the fullest extent permitted by applicable law) and agrees not to assert any claim that it is not personally subject to the jurisdiction of the above-named courts, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Guaranty or the subject matter hereof may not be enforced in or by such court.

(g)

COUNTERPARTIES (BY THEIR ACCEPTANCE OF THIS GUARANTY) AND GUARANTOR EACH HEREBY IRREVOCABLY, INTENTIONALLY AND VOLUNTARILY WAIVES THE RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH, THIS GUARANTY OR THE AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PERSON RELATING HERETO OR THERETO. THIS PROVISION IS A MATERIAL INDUCEMENT TO GUARANTOR’S EXECUTION AND DELIVERY OF THIS GUARANTY.


(h)	This Guaranty may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which shall constitute one and the same instrument. This Guaranty shall become effective when each party hereto shall have received counterparts thereof signed and delivered (by facsimile, e-mail of a .pdf attachment or otherwise) by all of the other parties.

* * *

IN WITNESS WHEREOF, the Guarantor has executed this Guaranty, effective as of the Effective Date.



		NEXTERA ENERGY PARTNERS, LP


		By: JOHN W. KETCHUM

		Name: John W. Ketchum

		Title: President

Exhibit D

R&W Conditional Binder

[See attached.]

Euclid Transactional, LLC

The Right Angle For Risk

BINDER AGREEMENT

Buyer-Side Representations and Warranties Insurance Policy

Master Policy # ET111-001-480

THIS INSURANCE IS ISSUED PURSUANT TO THE FLORIDA SURPLUS LINES LAW. PERSONS INSURED BY SURPLUS LINES CARRIERS DO NOT HAVE THE PROTECTION OF THE FLORIDA INSURANCE GUARANTY ACT TO THE EXTENT OF ANY RIGHT OF RECOVERY FOR THE OBLIGATION OF AN INSOLVENT UNLICENSED INSURER.

THE INSURERS NAMED HEREIN ARE NOT LICENSED BY THE STATE OF NEW YORK, NOT SUBJECT TO ITS SUPERVISION, AND IN THE EVENT OF THE INSOLVENCY OF THE INSURERS, NOT PROTECTED BY THE NEW YORK STATE SECURITY FUNDS. THE POLICY MAY NOT BE SUBJECT TO ALL OF THE REGULATIONS OF THE DEPARTMENT OF FINANCIAL SERVICES PERTAINING TO POLICY FORMS.

All capitalized terms used but not defined in this Binder Agreement (along with all Exhibits hereto, this “Agreement”) shall have the respective meanings assigned thereto in the Draft Policy (as defined below).

1. Date:

September 29, 2019

2. Insureds:

a. Named Insured:

Meade Pipeline Investment, LLC

c/o NextEra Energy Partners GP, Inc.

700 Universe Boulevard

Juno Beach, FL 33408

Attention: Charles E. Sieving, General Counsel

Email: Charles.sieving@nexteraenergy.com

b. Additional Insureds:

The Named Insured’s Representatives, and the Named Insured’s Affiliates and Subsidiaries and each of their Representatives.

Collectively, the Named Insured, the Additional Insureds and each of their respective successors and permitted assigns are referred to herein as the “Insureds,” and “Insured” means any one of them.

3. Coverage:

Buyer-side representations and warranties insurance coverage for Loss in excess of the Retention in accordance with and

subject to the terms and conditions of the policy attached hereto as Exhibit A (the “Draft Policy”).

Any changes to the Draft Policy shall be mutually agreed upon by the Underwriting Representative and the Named Insured.

4. Policy Term:

From September 29, 2019 (“Inception”) until the 36-month anniversary of the Closing (the “Expiration Date”); provided that the Expiration Date with respect to the Extended Representations and Pre-Closing Taxes shall be the 72-month anniversary of the Closing.

5. Limit of Liability:

$30,000,000, in the aggregate

6. Retention:

The initial Retention means an amount equal to $9,600,000, in the aggregate (the “Initial Retention”).

Subject to Section IV.B(ii) of this Policy, to the extent that the then-remaining Retention (as eroded from time to time pursuant to the terms of this Policy) is greater than $6,400,000 on the 12-month anniversary of the Closing (the “Retention Dropdown Date”), the then-remaining Retention shall be reduced to $6,400,000, in the aggregate, on such date (such amount the “Dropdown Retention”).

7. Premium:

Non-Terrorism Portion: $825,000

Terrorism Portion: $ 0

Total Premium: $825,000

8. Brokerage Commission and

Taxes:

The premium is inclusive of a 15% brokerage commission. The premium is exclusive of any applicable surplus lines, self- procurement or premium tax and any other applicable excise or other tax, fee or surcharge. It is the Insureds’ responsibility to pay any such applicable amount. For the avoidance of doubt, the Insureds are not responsible for the payment of any withholding taxes or other taxes or other amounts that are imposed on or determined by reference to income of the Insurers or the Insurance Broker or are imposed in lieu of an income tax.

9. Insurance Broker:

McGriff, Seibels & Williams, Inc. 3400 Overton Park Drive, Suite 300 Atlanta, GA 30339

10. Acquisition Agreement:

Purchase and Sale Agreement, dated as of September 29, 2019 by and among EIF Meade Holdings, LLC, VED NPI II, LLC, COG Holdings LLC, WGL Midstream MP, LLC, and VED NPI I, LLC,

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the

actual terms, conditions and exclusions of coverage.

Meade Pipeline Investment, LLC, and separately, WGL Midstream MP, LLC as Sellers’ Representative.

11. Insurers and Quota Share

Percentages:



Insurer	Policy Number	Quota Share Percentage of Loss	Quota Share Limit of Liability	Premium
North American Capacity Insurance Company	BRP0001147-00	50.000%	$15,000,000.00	$412,500.00
Interstate Fire & Casualty Company	MPX1801762	31.250%	$9,375,000.00	$257,812.50
Aspen Specialty Insurance Company	ET00358-19	12.500%	$3,750,000.00	$103,125.00
General Security Indemnity Company of Arizona	34980-000358-19	6.250%	$1,875,000.00	$51,562.50

The obligations of each Insurer in this Item 11 of these Declarations are limited to the extent of its Quota Share Percentage of Loss up to its Quota Share Limit of Liability. No Insurer shall be liable for the Quota Share Percentage of Loss of any other Insurer or otherwise responsible for the liability of any other Insurer, including as a result of the receivership, insolvency, inability, refusal or failure for any other reason of any other Insurer to pay any Loss.

12. Underwriting Representative:

Euclid Transactional, LLC, as duly authorized agent of the

Insurers.

The Underwriting Representative shall, as the agent of each of the Insurers, investigate and adjust any claim under this Policy, including the determination of whether a claim is covered and the amount of Loss covered hereunder. Each of the Insurers shall be bound by any such determination of the Underwriting Representative. The Insureds may rely upon any communications made to or received from the Underwriting Representative, as the agent of and claim representative for all of the Insurers, for any claim reported under this Policy.

13. Conditions:

Issuance of the final, executed buyer-side representations and warranties insurance policy contemplated by this Agreement and the Draft Policy (the “Policy”), and coverage for any Loss thereunder, shall be subject to the satisfaction of the following conditions:

(a) On or prior to October 9, 2019, the Underwriting Representative shall have received a deposit (the “Deposit”) equal to 10% of the Premium in accordance

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the

actual terms, conditions and exclusions of coverage.

with wire transfer instructions provided by the Underwriting Representative to the Insurance Broker.

(b) On or prior to 30 days following the Closing, the Underwriting Representative shall have received the full amount of the Premium;

(c) On or prior to October 9, 2019, the Underwriting Representative shall have received the underwriting fee of $40,000, plus $5,000 for each excess market, by wire transfer in accordance with the wire transfer instructions provided by the Underwriting Representative to the Named Insured.

(d) The closing of the transactions contemplated by the Acquisition Agreement (the “Closing”) shall have occurred in accordance with the terms and conditions of the Acquisition Agreement.

(e) Neither the Insureds nor any of their respective Affiliates shall have (i) amended, supplemented or rescinded the Acquisition Agreement (or entered into any agreement or arrangement which would have such an effect), (ii) given any consent or waiver thereunder, or (iii) granted any authority to take any of the actions in clauses (i) or (ii) above, in each case, without the prior written consent (not to be unreasonably withheld, conditioned or delayed) of the Insurers if such amendment, supplement, rescission, agreement, arrangement, consent, waiver or grant would reasonably be expected to actually prejudice the Insurers or their rights or liabilities under this Agreement or the Draft Policy.

(f) On the date hereof, the Underwriting Representative shall have received an Inception No Claims Declaration, executed by an authorized representative of the Named Insured as of Inception, in the form attached as Exhibit D-1 to the Draft Policy.

(g) On the Closing Date, the Underwriting Representative shall have received a Closing No Claims Declaration, executed by an authorized representative of the Named Insured as of Closing, in the form attached as Exhibit D-2 to the Draft Policy on the Closing Date.

(h) Prior to the Closing, the Insureds shall have provided the Underwriting Representative with satisfactory

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the

actual terms, conditions and exclusions of coverage.

access to the Deal Team Members to allow the Underwriting Representative to complete its “bring down” due diligence investigation.

(i) Prior to the Closing, the Named Insured shall have provided the Underwriting Representative with any notice of Breach provided by the Company and the Sellers.

(j) The Closing has occurred on or before March 27, 2020.

(k) On or prior to 60 days following the Closing, the Underwriting Representative shall have received copies of (i) the final, executed Acquisition Agreement (and any amendments thereto), (ii) closing deliveries exchanged pursuant to the Acquisition Agreement, and (iii) a USB, CD or DVD-ROM containing a complete copy of the data room created by or on behalf of Seller in connection with the transactions contemplated by the Acquisition Agreement.

(l) On or prior to 10 days following the Closing, the Underwriting Representative shall have received a copy of the applicable surplus lines completion forms.

Issuance of the Policy shall be deemed to be confirmation by the Underwriting Representative that the foregoing conditions have been satisfied or waived. Following such issuance, the Policy (and not this Agreement) shall be the exclusive document for determining coverage of Losses thereunder.

14. Failure of Conditions:

If any condition set forth in Section 13 above has failed to be

satisfied, then the Underwriting Representative shall be entitled to terminate this Agreement by providing ten (10) day’s prior written notice to the Named Insured (but only if such failure has not been cured within such 10-day cure period or any extension of such cure period agreed to by the parties).

If (x) this Agreement is so terminated or (y) the Acquisition Agreement is terminated pursuant to the terms thereof (a “Termination Event”), then this Agreement shall be void ab initio and have no force or effect and the Underwriting Representative shall have no obligation or liability hereunder or in connection herewith.

In consideration of its willingness to enter into this Agreement, the Underwriting Representative shall be entitled to the Deposit whether or not a Termination Event occurs. If a

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the

actual terms, conditions and exclusions of coverage.

Termination Event occurs and the Deposit has not been paid, the Named Insured shall pay the Deposit within five days of the Termination Event by wire transfer in accordance with the wire transfer instructions provided by the Underwriting Representative to the Insurance Broker.

15. Authorization:

As set forth, mutatis mutandis, in Section X of the Draft Policy.

16. Governing Law; Arbitration:

As set forth, mutatis mutandis, in Section XI of the Draft Policy.

17. Assignment:

As set forth, mutatis mutandis, in Section XII(E) of the Draft Policy.

18. Amendments:

This Agreement may not be amended, altered or modified except by a written consent of the parties hereto.

19. Entire Agreement:

This Agreement constitutes the entire agreement and understanding concerning the subject matter of this Agreement and supersedes the terms and conditions of any prior oral or written discussions, agreements or communications among the Underwriting Representative, the Insurers and the Insureds and their respective affiliates concerning the subject matter of this Agreement.

20. Counterparts:

This Agreement may be executed and delivered by the parties hereto (including by facsimile transmission or other electronic transmission) in counterparts, each of which when executed shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same agreement.

21. Effectiveness of Agreement:

Notwithstanding anything to the contrary herein, including without limitation the Underwriting Representative’s signature below, if this Agreement is not signed by the Named Insured and returned to the Underwriting Representative on the date hereof, then the offer provided in this Agreement shall automatically terminate and expire, whereupon this Agreement shall be void ab initio and have no force or effect, and neither the Underwriting Representative, any Insurer, nor any Insured shall have any obligation or liability hereunder or in connection herewith.

[Signature Page Follows]

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the

actual terms, conditions and exclusions of coverage.

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



		Euclid Transactional, LLC


		By: ALBERT SONG
		Name: Albert Song
		Title: Principal

		Meade Pipeline Investment, LLC


		By: MARK HICKSON
		Name: Mark Hickson
		Title: EVP

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the

actual terms, conditions and exclusions of coverage.

EUCLID TRANSACTIONAL, LLC

THE RIGHT ANGLE FOR RISK

Buyer-Side Representations and Warranties Insurance Policy

Master Policy # ET111-001-480

Words and phrases that are capitalized have the special meanings provided in Section II. Definitions.

Declarations

Item 1) Insureds:

a. Named Insured: Meade Pipeline Investment, LLC

c/o NextEra Energy Partners GP, Inc.

700 Universe Boulevard

Juno Beach, FL 33408

Attention: Charles E. Sieving, General Counsel

Email: Charles.sieving@nexteraenergy.com

b. Additional Insureds: The Named Insured’s Representatives, and the Named

Insured’s Affiliates and Subsidiaries and each of their Representatives.

Item 2) Policy Term: From September 29, 2019 (“Inception”) until [_ ]¹ (the

“Expiration Date”); provided that the Expiration Date with respect to the Extended Representations and Pre-Closing Taxes shall be [ ]².

¹ 36-month anniversary of the Closing

² 72-month anniversary of the Closing

Item 3) Limit of Liability:

$30,000,000, in the aggregate

Item 4) Retention:

The initial Retention means an amount equal to $9,600,000, in the aggregate (the “Initial Retention”).

Item 5) Premium:

Non-Terrorism Portion: $825,000

Terrorism Portion: $ 0

Premium: $825,000

Item 6) Insurance Broker:

McGriff, Seibels & Williams, Inc.

3400 Overton Park Drive, Suite 300

Atlanta, GA 30339

Item 7) Acquisition Agreement:

Purchase and Sale Agreement, dated as of September 29, 2019

by and among EIF Meade Holdings, LLC, VED NPI II, LLC, COG Holdings LLC, WGL Midstream MP, LLC, and VED NPI I, LLC, Meade Pipeline Investment, LLC, and separately, WGL Midstream MP, LLC as Sellers’ Representative.

Item 8) Insurers and Quota Share

Percentages:



Insurer	Policy Number	Quota Share Percentage of Loss	Quota Share Limit of Liability	Premium
North American Capacity Insurance Company	BRP0001147-00	50.000%	$15,000,000.00	$412,500.00



Interstate Fire & Casualty Company	MPX1801762	31.250%	$9,375,000.00	$257,812.50
Aspen Specialty Insurance Company	ET00358-19	12.500%	$3,750,000.00	$103,125.00
General Security Indemnity Company of Arizona	34980-000358-19	6.250%	$1,875,000.00	$51,562.50

The obligations of each Insurer in this Item 8 of these Declarations are limited to the extent of its Quota Share Percentage of Loss up to its Quota Share Limit of Liability.

Item 9) Underwriting

Representative:

Euclid Transactional, LLC, as duly authorized agent of the Insurers.

Item 10) Endorsements and

Exhibits Forming Part of

Policy at Issuance:

Exhibit A - Acquisition Agreement

Exhibit B - Ancillary Documents

Exhibit C - Deal Team Members

Exhibit D - No Claims Declarations

iii

EUCLID TRANSACTIONAL, LLC

THE RIGHT ANGLE FOR RISK

THIS IS A CLAIMS MADE AND REPORTED POLICY. SUBJECT TO THE TERMS AND CONDITIONS OF THIS POLICY, COVERAGE IS LIMITED TO CLAIMS THAT THE NAMED INSURED REPORTS TO THE INSURER PURSUANT TO REPORTING REQUIREMENTS OF THE POLICY. DEFENSE COSTS AND PROSECUTION COSTS COVERED BY THIS POLICY REDUCE AND EXHAUST THE APPLICABLE LIMITS OF LIABILITY AND APPLY TO THE RETENTION. THIS POLICY DOES NOT PROVIDE FOR ANY DUTY BY THE INSURERS TO DEFEND ANY INSURED IN ANY THIRD PARTY CLAIM. PLEASE READ THIS ENTIRE POLICY CAREFULLY.

Buyer-Side Representations and Warranties Insurance Policy

In consideration of the payment of the Premium, the several Insurers and the Insureds each agree as follows:

I. INSURING AGREEMENT

Subject to the terms and conditions of this Policy, the Insurers shall indemnify the Insureds for, or pay on their behalf, any Loss covered under this Policy that the Insureds report to the Underwriting Representative in accordance with Section V hereof.

II. DEFINITIONS

All capitalized terms used but not defined in this Policy (including the Declarations) shall have the meaning assigned to such term in the Acquisition Agreement. As used in this Policy, the following terms have the meanings set forth below:

A. “Acquisition Agreement” means the Acquisition Agreement set forth in Item 7 of the Declarations, including the disclosure schedules and any related exhibits, schedules, other attachments or side letters thereto (as such agreement may be amended from time to time in accordance with the terms and conditions of this Policy). An executed copy of the Acquisition Agreement is attached hereto as Exhibit A.

B. “Actual Knowledge” means, (i) with respect to a particular fact, event or condition, that the relevant person has an actual conscious awareness of such fact, event or condition, and (ii) with respect to a Breach, that the relevant person has an actual conscious awareness of a fact, event or condition constituting a Breach and that such fact, event or condition actually constitutes a Breach. Actual Knowledge does not include: (a) any constructive or imputed knowledge of a person; (b) any duty or obligation of inquiry or investigation; or (c) any actual, constructive or imputed knowledge of any outside advisor (including any attorneys, accountants, brokers, consultants, experts and other professionals) or other agent, representative, affiliate or employee of such person. For the avoidance of doubt, the Underwriting Representative shall bear the burden of proving that any person had Actual Knowledge of any fact, event or condition and that any fact, event or condition constitutes a Breach.

C. “Additional Insureds” means the persons or entities set forth in Item 1 of the Declarations.

D. “Ancillary Documents” means any certificate, instrument, document or agreement that is set forth on Exhibit B attached hereto and delivered on or prior to the Closing Date.

E. “Breach” means:

(i) any breach of, or inaccuracy in, any of the representations and warranties set forth in Articles III and IV of the Acquisition Agreement as of the date of the Acquisition Agreement or as of the Closing Date;

(ii) any breach of, or inaccuracy in, any of the representations and warranties or certifications set forth in any Ancillary Documents; or

(iii) any liability of an Insured for Pre-Closing Taxes.

Breach shall be determined without regard or giving effect to the survival limitations set forth in Section 9.1 of the Acquisition Agreement or, other than with respect to clause (b) of Section 4.8 of the Acquisition Agreement, any Materiality Qualifiers.

For purposes of this Policy, with respect to the Acquisition Agreement: (i) the words “which affects” in Section 4.6 (Litigation) shall be deemed replaced by “against”; and (ii) we would only cover clause (b) of Section 4.15 (Records).

F. “Claim Notice” has the meaning set forth in Section V.A of this Policy.

G. “Covered Environmental Claims” means claims in connection with Loss arising out of or resulting from any environmental spills or environmental contamination, but solely to the extent such Loss would be covered under an Environmental Policy but for the exhaustion of the aggregate limits of liability of such Environmental Policy.

H. “Deal Team Members” means those individuals set forth in Exhibit C attached hereto.

I. “Defense Costs” means any reasonable fees, costs, charges, expenses, payments, disbursements and any other amounts (including the reasonable fees, costs, charges and expenses of any attorneys, accountants, brokers, consultants, experts and other professionals) paid or incurred by or on behalf of the Insureds in the investigation, adjustment, defense, settlement, mitigation, litigation or appeal of any (i) Third Party Claim or (ii) potential Third Party Claim (including the investigation of the underlying facts and circumstances thereof) but only in the event such potential Third Party Claim is thereafter made and reported to the Underwriting Representative in accordance with the terms hereof. It is understood and agreed that (i) representation of the Insureds by Locke Lord LLP or Morgan, Lewis & Bockius LLP is reasonable and (ii) once the Insureds have provided reasonable support for their Defense Costs, the burden shall be on the Underwriting Representative to demonstrate that such Defense Costs are unreasonable. Defense Costs shall include premiums for any appeal, attachment or other litigation or similar bonds, provided that the Underwriting Representative and the Insurers shall have no obligation to apply for or furnish any such bonds. Defense Costs do not include any salaries, benefits or other compensation of any employee, officer, director, member or partner of the Insureds (other than part time employees, consultants and independent contractors retained in connection with the matters described in this definition).

J. “Environmental Policy” means any of (i) Section 8.1 of the O&M Agreement, and (ii) a renewal, replacement or amendment of the foregoing with substantially similar terms that do not adversely affect the Insurers.

K. “Expiration Date” means the applicable date stated in Item 2 of the Declarations.

L. “Extended Representations” means the representations and warranties set forth in Section 3.1 (“Organization”), Section 3.2 (“Authorization; Enforceability”), Section 3.3(a) and (d) (“No Conflict”), Section 3.5 (“Broker’s Fees”), Section 3.6 (“Ownership of Acquired Interests”), Section 4.1 (“Organization”), Section 4.2(a) (“No Conflict”), Section 4.3 (“Capitalization; Subsidiaries”), Section 4.5 (“Ownership of Property”), and Section 4.7 (“Taxes”) of the Acquisition Agreement.

M. “Inception” has the meaning set forth in Item 2 of the Declarations.

N. “Insurance Broker” has the meaning set forth in Item 6 of the Declarations.

O. “Insureds” has the meaning set forth in Item 1 of the Declarations.

P. “Insurers” mean the Persons set forth in Item 8 of the Declarations.

Q. “Interim Breach” means any Breach with respect to which (i) the facts, events or conditions that caused such Breach first occurred during the Interim Period and (ii) any Deal Team Member obtained Actual Knowledge of such Breach during the Interim Period.

R. “Interim Period” means the period beginning immediately following the execution of the Acquisition Agreement and ending immediately prior to the Closing.

S. “Limit of Liability” has the meaning set forth in Item 3 of the Declarations.

T. “Loss” means (i) all losses, payments, liabilities, claims, demands, judgments, settlements, awards, assessments, damages, Taxes, fines, suits, actions, costs and expenses, obligations, deficiencies, as well as any interest and penalties, arising out of or resulting from a Breach, (ii) any Defense Costs, and (iii) any Prosecution Costs, in each case, determined without regard or giving effect to the survival limitations set forth in Section 9.1 of the Acquisition Agreement of or any Materiality Qualifiers.

Loss does not include

that portion of any Loss that constitutes punitive or exemplary damages or any fines or penalties, except to the extent (a) insurable under the applicable law of any Most Favorable Jurisdiction and (b) awarded or assessed against the Insureds in connection with a Third Party Claim pursuant to (1) a final settlement consented to in writing by the Underwriting Representative (such consent not to be unreasonably withheld, conditioned or delayed) or (2) a final (x) order of a government, self-regulatory agency, or regulatory agency, (y) judgment of a court of competent jurisdiction or (z) award of an arbitrator, arbitration panel or similar adjudicative body. For the avoidance of doubt, however, Defense Costs and Prosecution Costs relating to any of the foregoing shall be Loss hereunder.

U. “Materiality Qualifiers” means any phrase, word, term or clause in any representation or warranty contained in Article III or Article IV of the Acquisition Agreement or in any Ancillary Document containing the words “materiality” or “Material Adverse Effect” or words of similar import. For the avoidance of doubt, the word “Material” in defined terms such as “Material Contracts” shall not be considered a Materiality Qualifier.

V. “Most Favorable Jurisdiction” means any jurisdiction where (i) the act, error or omission giving rise to the Breach or the Loss took place, (ii) the Third Party Claim was made, (iii) any relief was awarded, (iv) any Insured is incorporated or has its principal place of business or (v) any of the Insurers is incorporated or has its principal place of business. Notwithstanding the foregoing, this Most Favored Jurisdiction definition may not be applied to any Insurer or the Underwriting Representative in a manner which would require any Insurer or the Underwriting Representative to violate any law that applies to this Policy; provided, the Insurers and the Underwriting Representative shall use commercially reasonable efforts to take actions necessary to apply this definition in a manner that would give effect to the definition and the intention of the parties without violating any such law.

W. “Named Insured” has the meaning set forth in Item 1 of the Declarations.

X. “No Claims Declarations” means (i) the signed Inception No Claims Declaration dated as of the date of Inception, an executed copy of which is attached hereto as Exhibit D-1, and (ii) the signed Closing No Claims Declaration dated as of the Closing Date, an executed copy of which is attached hereto as Exhibit D-2.

Y. “Pre-Closing Taxes” means all Taxes (or the nonpayment thereof) imposed on the Acquired Companies or any of their Subsidiaries for all Pre-Closing Tax Periods and for the portion of any Straddle Period ending on the Closing Date, except with respect to (a) Transfer Taxes; (b) matters disclosed in the Disclosure Schedules; or (c) Taxes accrued or reserved on the books and records of the Acquired Companies as of Closing, provided, however, that the exclusion to pre-Closing Taxes within this sub-paragraph (c) shall not apply to amounts that are subsequently payable by the Acquired Companies (or any Subsidiary thereof) in excess of such amounts accrued or reserved on the books and records of the Acquired Companies as of Closing).

Z. “Policy Term” has the meaning set forth in Item 2 of the Declarations.

AA. “Premium” has the meaning set forth in Item 5 of the Declarations.

BB. “Prosecution Costs” means any reasonable fees, costs, charges, payments, and expenses (including the reasonable fees, costs, charges and expenses of attorneys, accountants, brokers, consultants, experts, and others) paid by or on behalf of or incurred by or on behalf of the Insureds in connection with (i) the Insureds’ mitigation or investigation of any Breach, and (ii) the prosecution of any counterclaims related to the mitigation or reduction of Loss that are authorized by the Underwriting Representative in connection with the defense of a Third Party Claim or potential Third Party Claim (such consent not to be unreasonably withheld, conditioned or delayed). It is understood and agreed that (i) representation of the Insureds by Locke Lord LLP or Morgan, Lewis & Bockius LLP is reasonable and (ii) once the Insureds have provided reasonable support for their Prosecution Costs, the burden shall be on the Underwriting Representative to demonstrate that such Prosecution Costs are unreasonable.

Prosecution Costs shall include premiums for any appeal, attachment or similar bonds, without any obligation to apply for or furnish any such bonds. Prosecution Costs do not include any salaries, benefits or other compensation of any employee, officer, director, member or partner of the Insureds (other than part time employees, independent contractors and consultants retained in connection with the matters described in this definition).

CC. "Purchase Price Adjustment Provision" means the purchase price or similar adjustment provision set forth in Section 2.3 of the Acquisition Agreement.

DD. “Quota Share Percentages” has the meaning set forth in Item 8 of the Declarations.

EE. “Recovered Amounts” means, in relation to any Loss, the net amount (after reduction for any increase in premiums and reasonable costs and expenses incurred in connection with such recovery) of any offsetting recoveries directly related to such Loss (including from other insurance policies or third party indemnities) that have been actually received by the Insureds from an unaffiliated third party.

FF. “Retention” has the meaning set forth in Item 4 of the Declarations.

GG. “Retention Dropdown Date” has the meaning set forth in Item 4 of the Declarations.

HH. “Seller” means, collectively, the persons or entities designated as “Sellers” in the Acquisition Agreement.

II. “Specified Person” means (i) the chief executive officer, chief financial officer, general counsel or any person who holds a functionally equivalent position at any Insured and (ii) any Deal Team Member (to the extent such person is employed by the Named Insured or any affiliate thereof at the applicable time). Notwithstanding the foregoing, Specified Person shall not include the chief executive officer, chief financial officer, general counsel or any person who holds a functionally equivalent position of any of the Acquired Companies or any of their Subsidiaries as of immediately prior to the Closing, unless such person both (x) is the chief executive officer, chief financial officer, general counsel or, if no such person exists, the person who holds a functionally equivalent position at any Insured at the applicable time of determination, and (y) intentionally and willfully withholds or conceals from another Specified Person any information first obtained after the Closing that would reasonably be expected to give rise to Actual Knowledge of a Breach by another Specified Person. The burden of proving that a Specified Person intentionally and willfully withholds or conceals information, and that such information was first obtained after Closing, shall be on the Underwriting Representative.

JJ. “Third Party Claim” means any claim, notice, complaint, demand, arbitration, mediation, investigation, suit, proceeding, legal action or similar action or proceeding made or brought against, or the initiation of a tax audit or examination of, any Insured by any person or entity (unless made or brought by (i) an affiliate of such Insured at the time of such action, (ii) any other Insured (excluding any officer, director, manager, employee, agent or representative of any Insured who was an officer, director, manager, employee, agent or representative of the Insured at or prior to the Closing) or (iii) the Insurers acting in connection with this Policy) which, if successful, would result in Loss (other than Defense Costs or Prosecution Costs).

KK. “Underwriting Representative” has the meaning set forth in Item 9 of the Declarations.

III. EXCLUSIONS

No Insurer shall be liable to make any payment for that portion of Loss:


A.	proximately related to the substantive content of a material inaccuracy in a No Claims Declaration (but only to the extent the Insurers are actually prejudiced by such material inaccuracy, with for the avoidance of doubt the Insurers bearing the burden of proving such prejudice);


B.	arising out of or resulting from any (x) Breach of which any of the Deal Team Members had Actual Knowledge prior to Inception or (y) Interim Breach;


C.	arising out of or resulting from asbestos or Polychlorinated Biphenyls;


D.	constituting the monetary amount by which any unfunded or underfunded defined benefit pension, retiree medical or multiemployer plan maintained, sponsored, contributed to, or required to be contributed to by the Acquired Companies, any Subsidiary of the Acquired Companies, or any Seller is unfunded or underfunded;


E.	arising out of or resulting from any environmental spills or environmental contamination, other than any Covered Environmental Claims;


F.	arising out of or resulting from cost overruns, delays or failure to obtain or sustain after court challenge regulatory approvals with respect to the Leidy South expansion;


G.	arising out of or resulting from Transfer Taxes;


H.	arising out of or resulting from the recharacterization of the Main Facilities Lease, dated as of February 14, 2014, between Transcontinental Gas Pipe Line Company, LLC and Meade Pipeline Co LLC as an installment sale for tax purposes;


I.	arising out of or resulting from the matters described in Section 9.2(a)(iii) of the Acquisition Agreement;


J.	arising out of or resulting from any breach of, or inaccuracy in, the representations and warranties set forth in Section 4.9(c) of the Acquisition Agreement; or


K.	to the extent actually taken into account pursuant to the Purchase Price Adjustment Provision (with the intent of this exclusion merely to be to avoid “double counting” and not to limit any right to recover for Loss that arises out of or results from any Breach in excess of the amount of such Loss taken into account under the Purchase Price Adjustment Provision).

Subject to all of the other terms and conditions of this Policy, if only part of a Loss is excluded under this Section III, the Insurer shall remain liable for that part of the total Loss that is not so excluded.

IV. LIABILITY UNDER THIS POLICY; RETENTION; CALCULATION OF LOSS

A. Liability under this Policy.

(i) The Limit of Liability set forth in Item 3 of the Declarations is the maximum aggregate liability of the Insurers under this Policy. Defense Costs and Prosecution Costs are part of, and not in addition to, the Limit of Liability. Loss incurred within the Retention shall not erode the Limit of Liability.

(ii) The liability of each Insurer is several and not joint with any other Insurer. The obligations of each Insurer are limited to the extent of its Quota Share Percentage of Loss up to its Quota Share Limit of Liability set forth in Item 8 of the Declarations. No Insurer shall be liable for the Quota Share Percentage of Loss of any other Insurer or otherwise responsible for the liability of any other Insurer, including as a result of the receivership, insolvency, liquidation, rehabilitation, bankruptcy, inability, refusal or failure for any other reason of any other Insurer to pay any Loss.

B. Retention.


(i)	The Insurers shall only be liable for Loss (or the aggregate of all individual Losses) covered hereunder in excess of the Retention set forth in Item 4 of the Declarations. Such Retention is an aggregate one and shall only be eroded by Loss (or the aggregate of all individual Losses) for which the Insurers would be liable under this Policy but for the Retention (“Retained Losses”).

(ii)

If on or prior to the Retention Dropdown Date the Underwriting Representative has been notified by the Named Insured pursuant to this Policy of, or any Specified Person has Actual Knowledge of, any (a) Breach or matter under active investigation by any Specified Person that would reasonably be expected to give rise to a Breach, (b) Third Party Claim and/or (c) Loss, then the Retention shall not be reduced pursuant to the second paragraph of Item 4 of the Declarations solely with respect to any such Loss or any Loss that arises out of, relates to or results from such Breach, matter or Third Party Claim.


(iii)	Any Retained Losses recovered by the Insureds from the Seller pursuant to the Acquisition Agreement for amounts up to and including the amount of the Retention shall erode the Retention and shall not reduce the amount of Loss in excess of the Retention or be subject to reimbursement for purposes of this Policy.


(iv)	Loss (or the aggregate of all individual Losses) shall erode the Retention and/or be recoverable as Loss under this Policy, as applicable, prior to and not conditioned upon obtaining recovery from or taking any action against the Seller with respect to any Loss.

Recovered Amounts. Loss shall be reduced by any Recovered Amounts. For the avoidance of doubt, to the extent any Recovered Amount is received or realized after payment by the Insurer hereunder, such Recovered Amount shall be applied in the following order: first, to reimburse the Insureds for any Loss borne by them in excess of the Limit of Liability; second, to reduce any Loss incurred by the Insureds which is covered by this Policy; and third, to reimburse the Insureds in respect of any Retained Loss.

V. REPORTING

A. The Named Insured shall deliver a notice (a “Claim Notice”) to the Underwriting Representative as soon as reasonably practicable after any Specified Person acquires Actual Knowledge of any Breach, Third Party Claim or Loss, or any matter under investigation by any Specified Person that would reasonably be expected to give rise to a Breach, Third Party Claim or Loss. The Claim Notice shall reference this Policy and shall include, in reasonable detail (in light of the information then reasonably available) and to the extent a Specified Person has Actual Knowledge, a description of the facts, matters or circumstances leading up to the delivery of the Claim Notice, including a specific reference to the implicated representations and/or warranties at issue. The Insureds shall have the right to amend and supplement the Claim Notice, including when additional facts and information become available, pursuant to the other terms and conditions of this Section V.

B. The information provided in or pursuant to any Claim Notice shall be provided solely for the purpose of making a claim under this Policy. In disclosing such information, the Insureds expressly do not waive any attorney-client privilege associated with such information or any protection afforded by the work-product doctrine or other privilege with respect to any of the matters disclosed or discussed therein. No information contained in any Claim Notice shall be deemed to be an admission by any Insured to any third party of any matter whatsoever (including any violation of law or breach of contract).

C. In no event may a Claim Notice be delivered to the Underwriting Representative later than 45 days after the Policy Term. If a Claim Notice is provided to the Underwriting Representative during the Policy Term or the 45-day period immediately following the Policy Term, then any subsequent Loss arising out of or resulting from the Breach, Third Party Claim, Loss, or matter under investigation by any Specified Person that would reasonably be expected to give rise to a Breach, Third Party Claim or Loss identified in the Claim Notice shall be deemed reported at the time such Claim Notice was received by the Underwriting Representative.

D. As soon as reasonably practicable after the Underwriting Representative receives a Claim Notice (and in any event within 60 days of receipt), the Underwriting Representative shall respond with the coverage position of the Insurers (including reasons if the Insurers dispute coverage for the claimed Loss or dispute that the claimed Loss erodes the Retention). If the Underwriting Representative is not in a position to determine the coverage position based on the information provided in the Claim Notice, then the Underwriting Representative’s response shall state why it is unable to do so and request such additional information as it may reasonably require from the Insureds in order to make a coverage determination, and following receipt of which the 60 day time limitation set forth in this Section V.D shall apply. The Underwriting Representative shall use commercially reasonable efforts to respond to any Claim Notice in a manner which provides the Insureds sufficient time to satisfy any litigation deadlines or similar deadlines of which the Underwriting Representative is made aware that relate to the subject matter of the Claim Notice.

E. The Insureds shall not be required to notify the Insurers directly of any Claim or any matters pertaining to any Claim so long as the Insureds have delivered to the Underwriting Representative a Claim Notice with respect to such Claim. No Insurer shall be released from its obligations under the Policy based upon its failure to receive notice of the Underwriting Representative’s receipt of a Claim Notice.

VI. CORRESPONDENCE; COOPERATION; MAINTENANCE OF RECORDS

Correspondence. The Insureds shall, at the written request of the Underwriting Representative and to the extent reasonably practicable, provide to the Underwriting Representative copies of any formal and written correspondence, pleadings or other material documents relating to such Claim Notice that are delivered or filed by or on behalf of the Insureds, their representatives or any other or entity, in each case, to the extent in the Insureds’ possession or reasonably available to the Insureds.

Cooperation. The Insureds shall use commercially reasonable efforts, at the Insurers’ sole cost, to provide the Underwriting Representative with any information, assistance and cooperation reasonably requested in writing by the Underwriting Representative in connection with a Claim Notice or other matter relating to this Policy. Such cooperation shall include, at the Insurers’ sole cost (which shall not reduce the Limit of Liability hereunder) and to the extent reasonably practicable:

(i)

permitting the Underwriting Representative and its representatives to examine, photocopy and take extracts from the books, data, files, records and information of the Insureds to the extent reasonably related to any Claim Notice and only during normal business hours, at reasonable locations, in a manner that is not disruptive to the business of the Insureds and upon reasonable prior written notice to the Insureds; and


(ii)	access to the Insureds’ representatives for interviews and depositions during normal business hours, at reasonable locations, in a manner that is not disruptive to the business of the Insureds’ representatives, and only upon reasonable advance notice to the Insureds.

The provision of such information shall be subject to existing confidentiality agreements by and between the Insureds and the Underwriting Representative.

C. Maintenance of Records. Until the later of 45 days after the expiration of the Policy Term or the final resolution of all claims or disputes relating to this Policy, the Insureds shall, to the extent within their control and in accordance with their respective record retention policies, use commercially reasonable efforts to maintain any documentation in their possession relating to the negotiation of the Acquisition Agreement and due diligence conducted in connection with the transactions contemplated thereby; provided that the Insureds may destroy documents in the ordinary course of the Insureds’ business consistent with any past practices and their document retention guidelines so long as such destruction is not done with the intent to harm the Insurers.

D. Privilege; Fifth Amendment Protection. With respect to any documents or information referenced in this Section VI that are protected by attorney-client privilege, work product doctrine or other privileges, the Insurers shall cooperate in good faith with the Insureds and use commercially reasonable efforts to preserve the privileged status of any such document or information (including by entering into a joint defense or similar agreement acceptable to the Underwriting Representative and the Named Insured). Nothing in this Policy shall be construed to require the waiver of any Fifth Amendment or similar protection or require the Insureds to take any action that would result in the loss of the protections of the attorney- client privilege, work-product doctrine or any similar privileges or protections.

VII. DEFENSE; SETTLEMENT; PAYMENT OF LOSS

Third Party Claim and Claims Participation. The Underwriting Representative and the Insurers do not assume any duty to defend the Insureds with respect to any Third Party Claim. The Insureds shall defend and contest any Third Party Claim with counsel consented to by the Underwriting Representative in writing (such consent not to be unreasonably withheld, conditioned or delayed); provided that such consent shall not be required for any representation of the Insureds by Locke Lord LLP or Morgan, Lewis & Bockius LLP. With respect to any Third Party Claim, the Insureds shall not knowingly take any action or omit to take any action that, at the time of such action or omission, would reasonably be expected to actually prejudice the Insurers’ position or its potential or actual rights of recovery. The Underwriting Representative shall have the right, at its sole cost and expense (which shall not reduce the Limit of Liability hereunder), to effectively associate in the investigation, defense and settlement of any Third Party Claim or other matter reasonably likely to be covered under this Policy; provided that, subject to the consent rights expressly given to the Insurers in this Section VII.A and Section VII.B of this Policy, the Insureds shall control all decisions with respect to the investigation, defense, prosecution, negotiation and settlement of any Third Party Claim.

Settlements and Judgments. With respect to any settlements of or stipulated judgments in a Third Party Claim, only Loss (other than Defense Costs or Prosecution Costs) resulting from settlements or stipulated judgments consented to by the Underwriting Representative in writing (such consent not to be unreasonably withheld, conditioned or delayed) or resulting from a final judgment by a court of competent jurisdiction or arbitral panel shall erode the Retention or be recoverable as Loss; provided that with respect to any settlement or stipulated judgment that is solely within the Retention, the consent of the Underwriting Representative shall not be required until (x) the amount of such settlement or stipulated judgment, (y) the aggregate amount of any Losses reasonably anticipated in respect of any pending claims, and (z) any paid or incurred Defense Costs and Prosecution Costs relating to such settlement or stipulated judgment exceed 40% of the then-remaining Retention; and provided further the Insurer shall not use as the sole basis for denying its consent to such settlement or stipulated judgment the granting by the Insureds of an irrevocable and unconditional full and complete waiver and release to any person.


C.	Defense Costs and Prosecution Costs. With respect to Defense Costs and Prosecution Costs covered hereunder, the Insurers shall reimburse the Insureds on a quarterly basis following the Underwriting Representative’s receipt of an invoice for such Defense Costs or Prosecution Costs. The Insureds shall provide such information as reasonably requested by the

Underwriting Representative to determine the applicability of coverage of such Defense Costs or Prosecution Costs under this Policy in accordance with the time limitation set forth in Section V.D., provided that once the Insureds have provided reasonable support for their Defense Costs or Prosecution Costs, the burden shall be on the Underwriting Representative to demonstrate that such costs are not covered hereunder. The Underwriting Representative and the Insurers agree that Locke Lord LLP or Morgan, Lewis & Bockius LLP may represent the Insureds in matters related to this Policy and acknowledge that the then prevailing hourly billing rates of Locke Lord LLP and Morgan, Lewis & Bockius LLP to the Insureds are deemed reasonable.

D. Payment of Loss. Payment of any covered Loss by the Insurers shall be made to the Named Insured as representative of all of the Insureds or to such person or entity as the Named Insured instructs the Underwriting Representative pursuant to Section IX of this Policy.

E. Territory. This Policy extends to Breaches and Losses taking place or being incurred, as applicable, anywhere in the world.

VIII. MITIGATION; SUBROGATION; REIMBURSEMENT; OTHER INSURANCE

A. Mitigation.

(i)

To the extent required by applicable law, the Insureds shall use commercially reasonable efforts to mitigate any Loss or potential Loss after any Specified Person has Actual Knowledge of any matter that would reasonably be expected to give rise to any Loss; provided that the failure of any Insured to so mitigate shall only reduce the rights of the Insureds to recover for Loss under this Policy to the extent of the Loss that would have been avoided by such mitigation, and the burden of proving such amount shall be on the Insurers and shall not otherwise diminish or delay coverage or payment hereunder. If the Insurers believe the Insureds should take any additional actions in order to comply with their obligations pursuant to this paragraph, they shall request such actions promptly in writing.


(ii)	In connection with the determination of the Final Purchase Price, the Insureds shall use good faith efforts to take into account, and to recover any amounts in respect of, Loss in accordance with the Purchase Price Adjustment Provision.

(iii)

Notwithstanding Section VIII.A(i), the Insureds shall not be obligated to pursue any rights of recovery against any third party with respect to which any Insured has a business relationship (each such third party a “Commercial Counterparty”) until the aggregate amount of all such Losses for which recovery against such Commercial Counterparty is sought exceeds $500,000. If both (i) Losses related to any Insureds’ rights of recovery against any Commercial Counterparty exceed $500,000 and (ii) the Underwriting Representative requests in writing actions against such Commercial Counterparty, then the Underwriting Representative shall discuss in good faith with the Insureds any potential adverse impact that such action may have on any Insured and such impact shall be considered in determining whether the Underwriting Representative shall require that the Insureds pursue such action.

B. Subrogation.

(i) The Insureds shall use commercially reasonable efforts to preserve (a) any indemnification or other rights against any other person or entity with respect to any Loss, which rights would offset the Insurers’ obligations hereunder, and (b) the Insurers’ subrogation rights with respect thereto.

(ii) In the event of any payment of Loss under this Policy, the Underwriting Representative (on behalf of the Insurers) shall be subrogated to the extent of such payment to, and the Insureds shall assign to the Underwriting Representative, all of the Insureds’ rights of recovery with respect to such Loss; provided that the Underwriting Representative and the Insurers hereby waive and release any right of subrogation and shall not be entitled to subrogate against (x) any Insured or any, direct or indirect, parent, Subsidiary, affiliate, shareholder, member, director, officer, employee or partner (or the functional equivalent of any such position) of any of the foregoing (except if associated with the acquired business prior to Closing (but without limiting clause (y)), (y) the Acquired Companies or the acquired business and (z) each of the Sellers pursuant to rights under the Acquisition Agreement except in cases of Fraud. At the sole cost and expense of the Insurers (which shall not reduce the Limit of Liability hereunder) and to the extent consistent with the subrogation permitted hereunder, the Insureds shall use commercially reasonable efforts to execute all papers reasonably required and take all steps reasonably requested by the Insurer to secure and further such subrogation. In no event shall the Insureds knowingly and intentionally waive any rights in a manner that would reasonably be expected to actually prejudice any such subrogation or assignment right.

(iii) With respect to subrogation claims against customers, clients or suppliers of any person or entity described in clauses (x) - (z) of Section VIII.B(ii) above, the Insurers shall not be entitled to subrogate without the prior written consent of the Named Insured (such consent not to be unreasonably withheld, conditioned or delayed) until the aggregate amount of all such Losses for which recovery would be available against any such customer, client or supplier exceeds $500,000 (the “Subrogation Threshold”). After such Losses exceed the Subrogation Threshold, the Insurers may subrogate against such customers, clients and suppliers without the consent of the Named Insured, and the Insurers shall only be required to provide advance written notice to the Named Insured of their intent to institute such subrogation claim. Upon the request of the Named Insured, the Insurer shall provide reasonable updates with respect to the status of and circumstances relating to such claim.

(iv) The Insurers shall bear all costs incurred in connection with any subrogation or assignment efforts or actions taken by or on behalf of the Insurers or the Underwriting Representative (including any defense costs or liability of the Insured related to any counterclaim or third party demand asserted in connection with any such subrogation or assignment efforts to the extent arising out of, resulting from or related to the same or similar facts, circumstances, matters or allegations out of which such subrogation or assignment efforts arose) and shall promptly reimburse the Insureds for any reasonable costs and expenses incurred in connection with any subrogation or assignment efforts in connection with Section VIII.B of this Policy, which shall not reduce the Limit of Liability hereunder.

(v) Any amounts recovered by the Insurers or Underwriting Representative through subrogation or assignment of rights or recoupment hereunder shall be applied in the following order: (a) first, to reimburse the Underwriting Representative, the Insurers and the Insureds for any reasonable costs and expenses incurred in connection with such recovery (allocated pro rata based on the total amount of such costs and expenses incurred by the Underwriting Representative, the Insurers and the Insureds); (b) second, to reimburse the Insureds for any Loss borne in excess of the Limit of Liability (only to the extent of such excess); (c) third, to reimburse the Insurers in respect of any Loss paid under this Policy and for which subrogation rights were assigned hereunder; and (d) fourth, to reimburse the Insureds in respect of any Loss which the Insureds have retained by reason of the Retention. Any amounts recovered by the Insurers pursuant to clause (c) shall serve to replenish the Limit of Liability.

C. Reimbursement. Until the later of (x) the one year anniversary of the Expiration Date and (y) the final resolution of all claims or disputes relating to this Policy:

(i) The Insureds shall reimburse the Underwriting Representative (on behalf of the Insurers) for any amount paid by the Insurers under this Policy if it is determined pursuant to the procedures set forth in Section XI of this Policy that such paid amount did not constitute Loss covered hereunder.

(ii) If any Recovered Amounts are actually received or realized by the Insureds after the Insurers have made a payment to the Insureds with respect to Loss covered hereunder, the Insureds shall:

(a) notify the Underwriting Representative in writing within 60 days of such recovery; and

(b) to the extent such Recovered Amounts would reduce any Loss incurred by the Insureds which is covered by this Policy pursuant to the second clause of Section IV.C, reimburse the Underwriting Representative (on behalf of the Insurers) to the extent of such amount.

Any reimbursement under this Section VIII.C. shall be made within 60 days after such determination or recovery. Without duplication of any amounts taken into account in the definition of Recovered Amounts, the amount of such reimbursement shall be net of any increase in premiums and reasonable costs and expenses incurred by the Insureds in connection with obtaining any such amount. The Limit of Liability shall be reinstated immediately by an amount equal to any such reimbursement received or otherwise recovered by the Insurers or the Underwriting Representative pursuant to this Section VIII.C.

D. Other Insurance.

(i) The coverage provided under this Policy shall be excess to any other valid and collectible insurance coverage. The Named Insured shall (i) at the Underwriting Representative’s reasonable request, discuss with the Underwriting Representative whether any preexisting bond, indemnity or other insurance policy is applicable or available with respect to the matters described in any Claim Notice and (ii) if any such bond, indemnity

or other insurance policy is applicable and available, utilize good faith efforts to collect thereunder; provided that any dispute as to the applicability of, or delay in obtaining, such coverage shall not be a basis for delay or refusal of payment hereunder; provided further, that it is understood that the foregoing shall not limit the Insurers’ rights of subrogation against other insurance policies, other sources or recovery or the Seller to the extent provided for in Section VIII of this Policy. The Insureds shall not be obligated to first pursue claims for any Breach or Loss against any other insurance policy or any other source of recovery referred to in this Section VIII.D prior to being eligible for any payment under this Policy and if there is a dispute as to whether the coverage under this Policy shall be excess of other coverage or if other coverage shall be excess of the coverage under this Policy, the Insureds shall be entitled to recover under this Policy and the Insurers shall be subrogated to the extent provided in Section VIII of this Policy to the Insureds’ rights to such other coverage. For the avoidance of doubt, to the extent any deductible borne or paid by the Insureds under any other insurance policy would constitute Loss under this Policy, such deductible borne or paid shall apply to erode the Retention, subject to the terms and conditions of this Policy.

(ii) Section VIII(D)(i) of this Policy shall not apply with respect to the Environmental Policy. It is understood and agreed that the coverage provided under this Policy for Covered Environmental Claims shall be specifically excess of coverage provided under the Environmental Policy. No coverage will be available under this Policy for Covered Environmental Claims (and the Retention shall not be eroded hereunder) unless and until the following conditions have been met: (a) the retention of the Environmental Policy has been fully eroded pursuant to the terms and conditions of the Environmental Policy and (b) the limit of liability of the Environmental Policy shall have been completely exhausted through the payment of Loss by the insurer thereunder or by or on behalf of the Insured, or by any other source. If the Environmental Policy has (i) ceased to be in full force and effect due to any act or omission of any Insured (including any failure to renew such policy, unless replaced with a policy in accordance with the definition of Environmental Policy) or (ii) been modified or amended in a manner that does not satisfy clause (ii) of the definition of Environmental Policy, in each case, such that the Insurers are adversely affected thereby with respect to Covered Environmental Claims, then this Policy shall continue to cover Covered Environmental Claims, but the Insureds, or an insurer providing replacement coverage (if such replacement coverage is obtained), shall be liable for the amount of the underlying limits of liability and retentions of such ceased, modified or amended (as applicable) Environmental Policy, and the Insurers shall be liable for Covered Environmental Claims only to the extent that it would have been liable had the Environmental Policy not ceased or been modified or amended.

IX. NOTICE

A. All notices to the Underwriting Representative or the Insurers under this Policy (including any Claim Notice) shall be given in writing (emailed notice being sufficient) to the Underwriting Representative at the address below:

Euclid Transactional, LLC

One Park Avenue, 18th Floor

New York, NY 10016

Attn: Jay Rittberg, Phil Casper, Albert Song and Chief Claims Officer

Email: claims@euclidtransactional.com

The Underwriting Representative is authorized and directed to accept service of process on behalf of each Insurer.

B. All notices to the Insureds under this Policy shall be given in writing to the Named Insured to the address set forth in Item 1 of the Declarations, with a copy to:

Locke Lord LLP

600 Travis Street, Suite 2800

Houston, TX 77002

Attention: H. William Swanstrom

Email: bswanstrom@lockelord.com

For purposes of convenience only and not as a condition precedent to any rights under this Policy, a copy of any such notice or other communication shall be sent simultaneously to the Insurance Broker at its mailing address set forth in Item 6 of the Declarations.

C. Any notices under this Policy shall be in writing, shall be given by email, mail, hand delivery or prepaid express courier and shall be effective on the date of receipt.

X. AUTHORIZATION

A. Authorization of Named Insured. By accepting this Policy, the Named Insured acknowledges and agrees that the Underwriting Representative and the Insurers shall be entitled to rely exclusively upon any written notice given by the Named Insured and that the Underwriting Representative and the Insurers shall not be liable in any manner for any action taken or not taken in reliance upon any notice given by the Named Insured.

B. Authorization of Underwriting Representative. The Underwriting Representative is authorized to act on behalf of the Insurers with respect to all matters relating to this Policy, including the negotiation and acceptance of any terms and conditions of this Policy (including any Endorsements hereunder), the giving and receipt of any notices and consents to or from the Insureds as provided for in Section IX of this Policy and the management of any matters that are subject to a Claim Notice. Each Insurer shall be bound by the communications made by the Underwriting Representative to the Insureds. The Insureds may rely on communications made by the Underwriting Representative as the authorized representative for all Insurers for any claim reported under this Policy. Notwithstanding the foregoing in this Section X.B, and for the avoidance of doubt, all duties and obligations of the Insureds in this Policy are owed to the Insurers and the Insurers shall derive all rights under this Policy including, without limitation, those related to such duties and obligations and under Section VIII of this Policy. An Insurer may revoke the authorization set forth in this Section X.B only with written notice to the Named Insured.

C. The Underwriting Representative is not an Insurer and shall not be liable for any Loss or claim whatsoever.

XI. GOVERNING LAW; ARBITRATION

A. Choice of Law. Except to the extent the law of any Most Favorable Jurisdiction other than the State of New York may apply to coverage for that portion of any Loss that constitutes punitive or exemplary damages, fines or penalties, the construction, validity and performance of this Policy shall be interpreted under the laws of the State of New York, without reference to conflict-of-law and choice-of-law principles that would require or allow the application of the law of any other jurisdiction. For the purposes of this Policy, the Acquisition Agreement shall be interpreted under the laws of the jurisdiction chosen therein, and where no jurisdiction is chosen, the Acquisition Agreement shall be interpreted by the laws of the State of New York, without reference to conflict-of-law principles that would require or allow the application of the law of any other jurisdiction.

B. Dispute Resolution. All disputes or disagreements with respect to this Policy (including with regard to whether this Policy is void or voidable), whether arising before or after the termination of this Policy, and whether arising in connection with this Policy or the interpretation thereof shall be submitted to arbitration in accordance with Section XI.C of this Policy.

C. Arbitration. In the event arbitration is elected, such arbitration shall be submitted before a panel of three arbitrators consisting of two party nominated arbitrators and a third arbitrator (hereinafter “umpire”) as the sole and exclusive remedy in accordance with the procedures set forth in this Section XI.C. The party desiring arbitration of a dispute shall serve on the other party a demand for arbitration, which demand shall include the name, address and occupation of the arbitrator nominated by the demanding party. The other party shall, within 30 days following receipt of the demand, notify in writing the demanding party of the name, address and occupation of the arbitrator nominated by it. The two arbitrators so selected shall, within 30 days of the appointment of the second arbitrator, select an umpire. If the arbitrators are unable to agree upon an umpire, the selection of the umpire shall be made by the Judicial Arbitration and Mediation Services (“JAMS”) in accordance with Rule 15 (as may be amended from time to time) of the JAMS Comprehensive Arbitration Rules and Procedures for the selection of a tripartite panel. Except as otherwise provided herein, the arbitration shall be conducted pursuant to the American Arbitration Association’s (“AAA”) Commercial Arbitration Rules and Mediation Procedures, but the arbitration shall be administered by JAMS and not by the AAA. The decision of at least two of the three panel members shall be binding and final and not subject to appeal except that neither party waives its rights to seek vacatur of the award pursuant to any applicable state or federal statute. The party whose proposed settlement offer amount is awarded by the arbitrators shall be considered the “prevailing party” under the arbitration. The fees and expenses of the arbitration panel shall be allocated to the Insureds and the Insurers as determined by the arbitration panel based upon the relative success (in terms of percentages) of each party’s claims. For example, if the final determination reflects a 60-40 compromise of the parties’ claims, the arbitration panel would allocate expenses 40% to the party whose claims were determined to be 60% successful and 60% to the party whose claims were determined to be 40% successful. A judgment may be entered on the award by any court of competent jurisdiction and the parties hereby consent to the jurisdiction of any state or federal court in the county of New York, state of New York and irrevocably waive any challenge to the jurisdiction or appropriateness of the venue of such a court including any challenge based on convenience of the forum.

D. Cap on Fees and Costs of Counsel, Expert Witnesses and Any Arbitration Panel. In any arbitration arising out of or related to this Policy, the arbitration panel shall award to the prevailing party, if any, the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with the arbitration and the enforcement of its rights under this Policy. If the arbitration panel determines a party to be the prevailing party under circumstances where the prevailing party won on some but not all of the claims and counterclaims, the arbitration panel may award the prevailing party an appropriate percentage of the costs and attorneys’ fees and expenses reasonably incurred by the prevailing party in connection with the arbitration and the enforcement of its rights under this Policy. Notwithstanding anything to the contrary in this Section XI(D), in no event shall either party be required to pay any fees and expenses pursuant to this Section XI(D) in excess of the lesser of (a) $1,000,000 and (b) an amount equal to the remaining Limit of Liability as of the date of such arbitral determination less the amount of any Loss that the Insureds have alleged in any pending claims are payable by the Insurers pursuant to any claims that are outstanding and have not been fully resolved as of such date (including the claim that was the subject of such arbitration).

E. Other Dispute Resolution Rules. The Named Insured or its assign shall act on behalf of each and every Insured under this Section XI.

XII. MISCELLANEOUS

Entire Agreement. This Policy constitutes the entire agreement among the Underwriting Representative, the Insurers and the Insureds concerning the subject matter of this Policy. This Policy supersedes any prior oral or written discussions, agreements or communications among the Underwriting Representative, the Insurers and the Insureds and their respective affiliates concerning the subject matter of this Policy.

Construction. This Policy has been negotiated among, and agreed to by, informed and knowledgeable parties, at arm’s-length and represented by legal counsel. This Policy shall be construed in the manner most consistent with the relevant terms and conditions of this Policy without regard to authorship of language and without any presumption in favor of either the Insurers or the Underwriting Representative, on the one hand, or the Insureds, on the other hand.


C.	Headings. The descriptions and headings and sub-headings of this Policy are solely for convenience and form no part of the terms and conditions of coverage.


D.	Amendment. This Policy may not be amended, altered or modified except by a written consent of the Named Insured and the Underwriting Representative (on behalf of the Insurers).

Assignment. This Policy and any rights and obligations hereunder may not be assigned or transferred by the Insureds without the prior written consent of the Underwriting Representative (such consent not to be unreasonably withheld, conditioned or delayed). Notwithstanding the immediately preceding sentence, without the consent of the Underwriting Representative, this Policy may be assigned by the Insureds to (i) an affiliate of the Insureds, (ii) a subsequent purchaser, assignee, transferee or successor-in-interest of the Insureds or the business or any of the assets acquired pursuant to the Acquisition Agreement (whether by merger, consolidation, acquisition, reorganization or sale of all or substantially all assets) or (iii) any lender to the Insureds as collateral security to the extent provided in Section XII.F; provided that no assignment shall be effective if (a) it would create multiple claims or multiple payees for the same claim or (b) the Named Insured would be a person or entity organized or formed outside of the United States.

Loss Payee. Upon written notice to the Underwriting Representative, the Named Insured may assign the Insureds’ rights to receive proceeds payable under this Policy to any lender providing financing in connection with the transactions contemplated by the Acquisition Agreement (a “Loss Payee”). Except for the right of a Loss Payee to receive any such proceeds payable under this Policy, no Loss Payee shall have any rights or obligations under this Policy or be deemed to be an Insured under this Policy, and the Underwriting Representative and the Insurers shall owe no duties to any such Loss Payee in connection with this Policy.

Benefit. This Policy shall inure only to the benefit of the Underwriting Representative, Insurers and Insureds and the respective successors and assigns of the foregoing, and no other person or entity shall have any legal or equitable right, remedy or claim under or in respect of this Policy (except as set forth in Section VIII of this Policy with respect to the Insurers’ subrogation rights against the Seller).

XIII. ACQUISITION AGREEMENT

The Insureds shall not (x) amend, supplement or rescind the Acquisition Agreement, (y) give any consent or waiver under the Acquisition Agreement or (z) grant any authority to do any of the foregoing, in each case, without the prior written consent of the Underwriting Representative (such consent not to be unreasonably withheld, conditioned or delayed), if such amendment, supplement, rescission, consent or waiver would reasonably be expected to actually prejudice the Insurers’ rights or liabilities under this Policy (with the Insurers bearing the burden of proving such prejudice). The foregoing shall not restrict the Insureds from controlling their defense to the extent permitted by Section VII of this Policy or agreeing to settlements and judgments to the extent permitted by Section VII(B) of this Policy.

XIV. FAILURE TO COMPLY

Any failure of the Insureds to comply with any of the provisions of Sections V through VIII of this Policy shall not relieve the Insurers of their obligations under this Policy except to the extent the Insurers are actually prejudiced thereby (with the Insurers having the burden of proving such prejudice); provided, however, that (x) the Insureds’ obligations under Section VII.B of this Policy shall not be affected by the foregoing and (y) in no event may a Claim Notice be delivered to the Underwriting Representative later than the 45th day following the Policy Term.

XV. TRADE SANCTIONS

This insurance coverage does not apply to the extent that trade or economic sanctions of any country prohibit the Insurers or any member of any respective Insurer’s group (including any parent company or controlling entity) from providing insurance coverage hereunder. Whenever coverage provided by this Policy would be in violation of any U.S. economic or trade sanctions such as, but not limited to, those sanctions administered and enforced by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC"), such coverage shall be null and void.

XVI. PREMIUM REFUNDS AND CANCELLATION

This Policy is non-cancelable and non-renewable, and the Premium hereunder is earned fully on the

Closing Date.

EUCLID TRANSACTIONAL, LLC

THE RIGHT ANGLE FOR RISK

BINDER AGREEMENT

Excess Buyer-Side Representations and Warranties Insurance Policy

Master Policy #ET111-001-481

below).



1. Date:		September 29, 2019

2. Insureds:

a. Named Insured:		Meade Pipeline Investment, LLC
		c/o NextEra Energy Partners GP, Inc.
		700 Universe Boulevard
		Juno Beach, FL 33408
		Attention: Charles E. Sieving, General Counsel
		Email: Charles.sieving@nexteraenergy.com

b. Additional Insureds:		The Named Insured’s Representatives, and the Named Insured’s
		Affiliates and Subsidiaries and each of their Representatives.

		Collectively, the Named Insured, the Additional Insureds and each of
		their respective successors and permitted assigns are referred to
		herein as the “Insureds”, and “Insured” means any one of them.

3. Coverage:		Excess buyer-side representations and warranties insurance coverage
		for Loss in excess of the Retention Amount under and as defined in
		the Followed Policy and the limits of liability of Underlying Insurance
		in accordance with and subject to the terms and conditions of the
		policy attached hereto as Exhibit A (the “Draft Policy”).



		Any changes to the Draft Policy shall be mutually agreed upon by the
		Underwriting Representative and the Named Insured in writing.

4. Policy Term:		From September 29, 2019 (“Inception”) until the 36-month
		anniversary of the Closing (the “Expiration Date”); provided that the
		Expiration Date with respect to the Extended Representations and
		Pre-Closing Taxes shall be the 72-month anniversary of the Closing.


5. Limit of Liability:		$10,000,000, in the aggregate, part of a $40,000,000 quota share
		layer, excess of $90,000,000 in limits of liability of Underlying
		Insurance.

6. Underlying Insurance:



	Underlying Insurers	Policy Number	Limit of Liability	Underlying Limits of Liability
Primary Policy*	Euclid Transactional, LLC	ET111-001-480	$30,000,000	-
First Excess	Illinois Union Insurance Company	TNX G46882878 001	$30,000,000	$30,000,000
Second Excess	Gemini Insurance Company	8044573	$30,000,000	$60,000,000

* Followed Policy



7. Quota Share Layer:



Other Quota Share Insurer	Policy Number	Limit of Liability	Quota Share Layer Participation Percentage	Premium
Houston Casualty Company	F19L3110A001	$30,000,000	75%	$375,000



8. Retentions Under Followed Policy:

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the actual terms, conditions and exclusions of coverage.



		The Retention Amount under and as defined in Followed Policy
		(including any dropdown and/or erosion provisions specified in
		the Followed Policy).

9. Premium:		Non-Terrorism Portion: $125,000
		Terrorism Portion: $0
		Premium: $125,000

11. Insurance Broker:		McGriff, Seibels & Williams, Inc.
		3400 Overton Park Drive, Suite 300
		Atlanta, GA 30339

12. ET Insurers and Quota Share
Percentages:



ET Insurer	Policy Number	Quota Share Percentage of Loss	Quota Share Limit of Liability	Premium
North American Capacity	BRX0000296-00	50.000%	$5,000,000.00	$62,500.00
Interstate Fire and Casualty	MPX1801763	31.250%	$3,125,000.00	$39,062.50
Aspen Specialty Insurance	ET00360-19	12.500%	$1,250,000.00	$15,625.00
General Security Indemnity	34980-000360- 19	6.250%	$625,000.00	$7,812.50



The obligations of each ET Insurer in this Item 12 are limited to the extent of its Quota Share Percentage of Loss up to its Quota Share Limit of Liability.

13. Underwriting Representative:		Euclid Transactional, LLC, as duly authorized agent of the ET
		Insurers.

		The Underwriting Representative shall, as the agent of each of the
		ET Insurers, investigate and adjust any claim under this Policy,
		including the determination of whether a claim is covered and the

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the actual terms, conditions and exclusions of coverage.



		amount of Loss covered hereunder. Each of the ET Insurers shall
		be bound by any such determination of the Underwriting
		Representative. The Insureds may rely upon any communications
		made to or received from the Underwriting Representative, as
		the agent of and claim representative for all of the ET Insurers, for
		any claim reported under this Policy.

14. Conditions:		Issuance of the final, executed excess buyer-side representations
		and warranties insurance policy contemplated by this Agreement
		and the Draft Policy (the “Policy”), and coverage for any Loss
		thereunder, shall be subject to the satisfaction of the following
		conditions:
	(a)	On or prior to October 9, 2019, the Underwriting Representative shall have received a deposit (the “Deposit”) equal to 10% of the Premium in accordance with wire transfer instructions provided by the Underwriting Representative to the Insurance Broker.
	(b)	On or prior to 30 days following the Closing, the Underwriting Representative shall have received the full amount of the Premium;
	(c)	The closing of the transactions contemplated by the Acquisition Agreement (the “Closing”) shall have occurred in accordance with the terms and conditions of the Acquisition Agreement.
	(c)	The closing of the transactions contemplated by the Acquisition Agreement (the “Closing”) shall have occurred in accordance with the terms and conditions of the Acquisition Agreement.
	(d)	On or prior to 60 days following the Closing, the Underwriting Representative shall have received copies of (i) the final, executed Acquisition Agreement (and any amendments thereto) and (ii) closing deliveries exchanged pursuant to the Acquisition Agreement.
	(e)	On or prior to 60 days following the Closing, the Underwriting Representative shall have received copies of (i) the final, executed Acquisition Agreement (and any amendments thereto), (ii) closing deliveries exchanged pursuant to the Acquisition Agreement, and (iii) a USB, CD or DVD-ROM containing a complete copy of the data room created by or on behalf of Seller in connection with the transactions contemplated by the Acquisition Agreement.
	(f)	On or prior to 10 days following the Closing, the Underwriting Representative shall have received a copy of the applicable surplus lines completion forms.

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the actual terms, conditions and exclusions of coverage.



	(g)	The Underlying Insurance has been issued without any amendment or waiver to any provision, term, condition, exclusion or endorsement thereto that would reasonably be expected to actually prejudice the ET Insurers’ rights or liabilities under this Agreement or the Draft Policy and for which the Underwriting Representative has not provided its prior written consent, and copies of such issued policies have been provided to the Underwriting Representative.



15. Failure of Conditions:		If any condition set forth in Section 14 above has failed to be satisfied, then the Underwriting Representative shall be entitled to terminate this Agreement by providing ten (10) day’s prior written notice to the Named Insured (but only if such failure has not been cured within such 10-day cure period or any extension of such cure period agreed to by the parties).
		If (x) this Agreement is so terminated or (y) the Acquisition Agreement is terminated pursuant to the terms thereof (a “Termination Event”), then this Agreement shall be void ab initio and have no force or effect and the Underwriting Representative shall have no obligation or liability hereunder or in connection herewith.
		In consideration of its willingness to enter into this Agreement, the Underwriting Representative shall be entitled to the Deposit whether or not a Termination Event occurs. If a Termination Event occurs and the Deposit has not been paid, the Named Insured shall pay the Deposit within five days of the Termination Event by wire transfer in accordance with the wire transfer instructions provided by the Underwriting Representative to the Insurance Broker.
16. Authorization:		As set forth, mutatis mutandis, in Section VI of the Draft Policy.

17. Governing Law; Arbitration:		As set forth, mutatis mutandis, in Section VII of the Draft Policy.

18. Assignment:		As set forth, mutatis mutandis, in Section XV of the Followed Policy
19. Amendments:		This Agreement may not be amended, altered or modified except by a written consent of the parties hereto.
20. Entire Agreement:		This Agreement constitutes the entire agreement and understanding concerning the subject matter of this Agreement and supersedes the terms and conditions of any prior oral or written discussions, agreements or communications among the Underwriting Representative, the ET Insurers and the Insureds




This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the actual terms, conditions and exclusions of coverage.



		and their respective affiliates concerning the subject matter of this Agreement.
21. Counterparts:		This Agreement may be executed and delivered by the parties hereto (including by facsimile transmission or other electronic transmission) in counterparts, each of which when executed shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same agreement.
22. Effectiveness of Agreement:		Notwithstanding anything to the contrary herein, including without limitation the Underwriting Representative’s signature below, if this Agreement is not signed by the Named Insured and returned to the Underwriting Representative on the date hereof, then the offer provided in this Agreement shall automatically terminate and expire, whereupon this Agreement shall be void ab initio and have no force or effect, and neither the Underwriting Representative, any ET Insurer, nor any Insured shall have any obligation or liability hereunder or in connection herewith.
[Signature Page Follows]
This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the actual terms, conditions and exclusions of coverage.

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



		Euclid Transactional, LLC
	By:	ALBERT SONG
		Name: Albert Song
		Title: Principal

		Meade Pipeline Investment, LLC
	By:	MARK HICKSON
		Name: Mark Hickson
		Title: EVP























[Signature Page to Euclid 3XS Binder]

This Agreement provides only a summary of conditional coverage. Please refer to the Policy for the actual terms, conditions and exclusions of coverage.

Exhibit E

Payment of Purchase Price



Allocation	EIF	COG	WGLM	VED I	VED II	Total
Base Purchase Price Allocation	$286,118,400	$256,000,000	$657,043,200	$46,956,800	$33,881,600	$1,280,000,000
Share of Adjustment Escrow Amount	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
Share of Indemnity Escrow Amount	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
Share of Transfer Tax Escrow Amount	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
Share of Closing Transfer Tax Amount	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
Expansion Facilities Adjustment Amount Pro Rata Share	25.00%	20.00%	55.00%	0.00%	0.00%	100%
Main Facilities Adjustment Amount Pro Rata Share	23.75%	20.00%	55.00%	0.00%	1.25%	100%
Interim Period Distribution Amount Pro Rata Share	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
Company Working Capital Surplus Pro Rata Share	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%

E-1



Company Working Capital Deficit Pro Rata Share	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
EIF Meade Working Capital Surplus Pro Rata Share	100%	0%	0%	0%	0%	100%
EIF Meade Working Capital Deficit Pro Rata Share	100%	0%	0%	0%	0%	100%
EIF Vega Working Capital Surplus Pro Rata Share	90.00%	0%	0%	0%	10.00%	100%
EIF Vega Working Capital Deficit Pro Rata Share	90.00%	0%	0%	0%	10.00%	100%
Main Facilities Capex Adjustment Amount Pro Rata Share	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
Closing Indebtedness Pro Rata Share to the extent relating to Indebtedness of the Company	22.353%	20.00%	51.3315%	3.6685%	2.647%	100%
Closing Indebtedness Pro Rata Share to the extent relating to Indebtedness of EIF Meade	100%	0%	0%	0%	0%	100%

E-2



Closing Indebtedness Pro Rata Share to the extent relating to Indebtedness of EIF Vega, River Road or Vega Midstream	90.00%	0%	0%	0%	10.00%	100%

E-3

Exhibit F

Wire Instructions



Seller	Wire Instructions
EIF	TO: CITIBANK, N.A. ROUTING & TRANSIT (ABA): 021000089 FOR CREDIT OF: EIF UNITED STATES POWER FUND IV, L.P. CREDIT ACCOUNT #: 9983226895 BY ORDER OF: [NAME OF SENDER] REF: PLEASE NOTIFY CAM REESE AT (781) 292-7022 UPON EXECUTION OF WIRE
COG	Bank Name: JP Morgan Chase Bank Bank ABA: 02-000-021 Bank Acct: 636462608 Acct Name: Cabot Oil & Gas Corporation
WGLM	Beneficiary: WGL Midstream MP, LLC 1000 Maine Avenue, SW Washington, DC USA 20024 Bank: Wells Fargo Bank, N.A. 1 Montgomery Street San Francisco, CA, USA 94104 SWIFT/BIC Code: WFBIUS6S Routing number: 121000248 Acct No.: 4122596307
VED I	Account name: VED NPI I, LLC Account number: 5501365877 Bank name: Veritex Community Bank 5049 W Park Blvd Plano, TX 75093 Bank ABA: 113024164
VED II	Account name: VED NPI II, LLC Account number: 5501365919 Bank name: Veritex Community Bank 5049 W Park Blvd Plano, TX 75093 Bank ABA: 113024164

F-1



To: Philip A. Theodore	From: Todd Sandahl
Company: McGriff, Seibels, & Williams	Date: September 29, 2019
Tel: 404.497.7594	Tel: 212.703.7163
e-mail: PTheodore@mcgriff.com	e-mail: tsandahl@chubb.com
Re: Binder	TNX G46882878 001
Account: Meade Pipeline Investment, LLC	Principal Address: c/o NextEra Energy Partners GP, Inc. 700 Universe Boulevard Juno Beach, FL 33408 Attention: Charles E. Sieving, General Counsel Email: charles.sieving@nexteraenergy.com
Line of Coverage:	Buyer-Side Representations and Warranties Excess Liability Insurance Policy
Covered Transaction:	Purchase and Sale Agreement, dated as of September 29, 2019 by and among EIF Meade Holdings, LLC, VED NPI II, LLC, COG Holdings LLC, WGL Midstream MP, LLC, and VED NPI I, LLC, Meade Pipeline Investment, LLC, and separately, WGL Midstream MP, LLC as Sellers’ Representative.
Insuring Company:	Illinois Union Insurance Company
Policy Period:	From September 29, 2019 (“Inception”) until [____]¹ (the “Expiry Date”); provided that the Expiry Date with respect to the Extended Representations and Pre-Closing Taxes (as defined in the Followed Policy) shall be [ ]² each as of 11:59 P.M. (Local time at the address shown in Item 1)
Policy Number:	TNX G46882878 001

¹ The date that is the 36 month anniversary of the Closing Date

²The date that is the 72 month anniversary of the Closing Date

Exhibit G

Sample Closing Statement



Presented on a pro forma basis assuming a Sept 15, 2019 Closing			TOTAL	EIF	COG	WGLM	VED I	VED II	TOTAL
Base Purchase Price + Expansion Facilities Adjustment Amount + Main Facilities Adjustment Amount - Interim Period Distribution Amount +/- Company Working Capital Surplus (Deficit) +/- EIF Meade Working Capital Surplus (Deficit) +/- EIF Vega Working Capital Surplus (Deficit) +/- Main Facilities CapEx Adjustment Amount - EIF Meade Closing Indebtedness - EIF Vega Closing Indebtedness - Company Closing Indebtedness	Annex 5 Annex 6 Annex 7 Annex 8	Note 5 Note 5 Note 5 Note 1 Note 2 Note 2 Note 5	$1,280,000,000 $5,698,322 $2,244,875 ($15,829,816) ($31,879) $9,445,181 ($4,573) (6,260,712) $0 $0 $0	$286,118,400 $1,424,581 $533,158 ($3,538,439) ($7,126) $9,445,181 ($4,116) ($1,399,457) $0 $0 $0	$256,000,000 $1,139,664 $448,975 ($3,165,963) ($6,376) $0 $0 ($1,252,142) $0 $0 $0	$657,043,200 $3,134,077 $1,234,681 ($8,125,682) ($16,364) $0 $0 ($3,213,717) $0 $0 $0	$46,956,800 $0 $0 ($580,717) ($1,169) $0 $0 ($229,674) $0 $0 $0	$33,881,600 $0 $28,061 ($419,015) ($844) $0 ($457) ($165,721) $0 $0 $0	$1,280,000,000 $5,698,322 $2,244,875 ($15,829,816) ($31,789) $9,445,181 $4,573) ($6,260,712) $0 $0 $0
ESTIMATED PURCHASE PRICE (AS DEFINED IN THE PSA)			$1,275,261,398	$292,572,182	$253,164,158	$650,056,195	$46,145,239	$33,323,624	$1,275,261,398
- Company Closing Indebtedness payment (Payoff Documentation) - EIF Vega Closing Indebtedness payment (Payoff Documentation) - EIF Meade Closing Indebtedness payment (Payoff Documentation) - Closing Transfer Tax Amount - Adjustment Escrow Amount - Indemnity Escrow Amount - A6Transfer Tax Escrow Amount		Note 2 Note 4a Note 3 Note 4b	$0 $0 ($140,808,121) ($1,500,000) ($10,000,0009) ($31,246,821) ($24,100,000)	$0 $0 ($140,808,121) ($335,295) ($2,235,300) ($6,984,602) ($5,387,073)	$0 $0 $0 ($300,000) ($2,000,000) ($6,249,364) ($4,820,000)	$0 $0 $0 ($769,973) ($5,133,150) ($16,039.462) ($12,370,892)	$0 $0 $0 ($55,027) ($366,850) ($1,146,290) ($884,108)	$0 $0 $0 ($39,705) ($264,700) ($827,103) ($637,927)	$0 $0 ($140,808,121) ($1,500,000) ($10,000,000) ($31,246,821) ($24,100,000)
CASH PURCHASE PRICE (AS DEFINED IN THE PSA)			$1,067,606,456	$136,821,791	$239,794,794	$615,742,719	$43,692,964	$31,554,188	$1,067,606,456
CASH ON HAND AT CLOSING (PER PSA SECTION 2.3(a)) Company $7,992,335 Note 1 EIF Vega $13 Note 2 EIF Meade $9,476,520 Note 2

Note 1: August 31, 2019 figures have been reflected above for illustrative purposes. Actual figures as of the Closing Date will be used in the final calculation.

Note 2: July 31, 2019 figures have been reflected above for illustrative purposes. Actual figures as of the Closing Date will be used in the final calculation.

Note 3: Equals $38.4mm less $7.15mm in Capital Contributions made to pay for Other Contractor Claims (see 2.2(a)(iii) adjustment section below)

Note 4a: For illustrative purposes, the Closing Transfer Tax Amount is assumed to be $1.5mm.

Note 4b: Equal to $25.6mm, less an assumed $1.5mm for the Closing Transfer Tax Amount (per note 4a). The actual Transfer Tax Escrow Amount will change to the extent the Closing Transfer Tax Amount in note 4a is different.

G-1

Note 5: DETAILED SUPPORT

2.2(a)(ii)

Expansion Facilities Adjustment Amount

June Capital Call $1,920,488

July Capital Call $147,981

August Capital Call $3,629,852

Total $5,698,322

2.2(a)(iii)

Main Facilities Adjustment Amount

June Capital Call $4,417,020

July Capital Call $4,028,729

August Capital Call $6,664,211

Less: Amount per definition ($5,711,906)

Less: Paid relating to Other Contractor Claims ($7,153,179)

Total $2,244,875

2.2(a)(iv)

Interim Period Distribution Amount

June Distribution Excluded

July Distribution Excluded

Aug Distribution $7,964,908

Sept Distribution (#10) $7,864,908

Total $15,829,816

2.2(a)(viii)

Main Facilities Capex Adjustment Amount

Amount per definition and Annex 8 $6,260,712

Less: Capital Contributions with respect to the Main

Facilities >$16,016,301 during the Interim Period $0

Main Facilities Capex Adjustment Amount $6,260,712

G-2

WAIVER OF RIGHT OF FIRST OFFER

AND CONSENT TO TRANSFER OF COMPANY INTEREST

This WAIVER OF RIGHT OF FIRST OFFER AND CONSENT TO TRANSFER OF COMPANY INTEREST (this “Waiver and Consent”) is made and entered into effective as of September 29, 2019, by and among Meade Pipeline Co LLC, a Delaware limited liability company (the “Company”), and each of the members of the Company listed on the signature pages attached hereto (the “Members”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in that certain Limited Liability Company Agreement of the Company, dated as of February 14, 2014 (the “Company LLC Agreement”).

RECITALS:

WHEREAS, pursuant to Section 5.3 of the Company LLC Agreement, if, at any time, subject to certain exceptions set forth in Section 5.3, a Member desires to Transfer all or any portion of its Company Interest (the “Offered Interest”), it shall provide written notice of its intention to make such a Transfer to the other Members and shall make an irrevocable and unconditional offer (“ROFO Offer”) to sell the Offered Interest at the price and on the terms set forth in the ROFO Offer and any of the Non-Selling Members may, in their sole discretion, accept the ROFO Offer by delivering a ROFO Acceptance Notice to the Selling Member and the other Non-Selling Members in accordance with the terms and provisions of the Company LLC Agreement;

WHEREAS, certain of the Members are entering into that certain Purchase and Sale Agreement, by and among EIF Meade Holdings, LLC, VED NPI II, LLC, COG Holdings LLC, WGL Midstream MP, LLC, and VED NPI I, LLC (collectively, the “Sellers”), and Meade Pipeline Investment, LLC (the “Buyer”), pursuant to which, the Buyer shall directly and indirectly acquire 100% of the Company Interest from the Sellers (the “Purchase Agreement”); and

WHEREAS, each of the undersigned Members desires to waive any and all requirements and rights of first offer and other restrictions under the terms and provisions of the Company LLC Agreement in connection with the transactions contemplated by the terms and provisions of the Purchase Agreement.

AGREEMENT:

NOW, THEREFORE, in consideration of the foregoing premises, the receipt and adequacy of which are acknowledged, the parties hereto hereby agree as follows:

1. Recitals. The parties agree that the Recitals are true and correct, and are hereby incorporated into this Waiver and Consent.

2. Description of Sale. The Members hereby acknowledge their receipt and review of the Purchase Agreement and their knowledge and understanding of the terms and conditionsof the transactions contemplated therein.

3. Consent to Transfer and Waiver of Right of First Offer. Subject to Section 5, the Members hereby (a) absolutely and unconditionally waive any and all rights of first offer provided for under Section 5.3 of the Company LLC Agreement, including all notice, waiting period and other requirements therein and elsewhere in the Company LLC Agreement, and any and all other preemptive rights, rights of first offer, rights of first refusal, transfer restrictions and/or any other similar restrictions or rights that may otherwise be applicable to the transactions contemplated by the Purchase Agreement, and (b) consent to the consummation of the transactions pursuant to the terms and conditions of the Purchase Agreement.

4. Reliance. This Waiver and Consent is delivered to and given for the benefit of the Company and the Buyer and may be relied upon by the Company and the Buyer for all purposes.

5. Termination. This Waiver and Consent shall terminate and be of no further force and effect from and after any termination of the Purchase Agreement.

6. Binding Effect. This Waiver and Consent shall be binding upon the parties, and their legal representatives, heirs, successors, and assigns.

7. Counterparts. This Waiver and Consent may be executed in multiple counterparts, each of which shall constitute an original instrument, but all of which collectively shall constitute one and the same instrument. Counterparts of this document may be delivered via facsimile, with the intention that they shall have the same effect as an original counterpart hereof.

8. Miscellaneous. Sections 11.2, 11.5, 11.10, 11.11 and 11.12 of the Company LLC Agreement are hereby incorporated by reference into this Waiver and Consent and shall apply to this Waiver and Consent and be binding upon the parties hereto, mutatis mutandis, as though included in their entirety herein.

[Signature Page Follows]

IN WITNESS WHEREOF, the undersigned parties have executed this Waiver and Consent as of the date first above written.



		COMPANY:

		MEADE PIPELINE, CO LLC

		By: FREDRICK DALENA
		Name: Fredrick Dalena
		Title: President

		MEMBERS:

		WGL MIDSTREAM MP LLC

		By: FREDRICK DALENA
		Name: Fredrick Dalena
		Title: President

		COG HOLDINGS LLC

		By: SCOTT C. SCHROEDER
		Name: Scott C. Schroeder
		Title: Executive Vice President &
		Chief Executive Officer

		VEGA MIDSTREAM MPC LLC

		By: SHAWN SAINT
		Name: Shawn Saint
		Title: Authorized Signatory

		RIVER ROAD INTERESTS LLC

		By: SHAWN SAINT
		Name: Shawn Saint
		Title: Authorized Signatory

		VED NPI I, LLC

		By: DAVID A. MODESETT
		Name: David A. Modesett
		Title: President

SIGNATURE PAGE TO WAIVER OF RIGHT OF FIRST OFFER AND CONSENT TO TRANSFER OF COMPANY INTEREST

Execution Version

Exhibit 2.2

MEMBERSHIP INTEREST PURCHASE AGREEMENT

by and among

NEXTERA ENERGY PARTNERS PIPELINES, LLC,

NEXTERA ENERGY PARTNERS, LP,

NEXTERA ENERGY PARTNERS PIPELINES HOLDINGS, LLC,

and

GEPIF III MEADE INVESTCO, L.P.

September 29, 2019

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TABLE OF CONTENTS

ARTICLE I DEFINITIONS

Section 1.01	Definitions	2
Section 1.02	Accounting Procedures and Interpretation	13

ARTICLE II AGREEMENT TO SELL AND PURCHASE

Section 2.01	Sale and Purchase	13
Section 2.02	Closing	14
Section 2.03	Mutual Conditions	14
Section 2.04	Conditions to the Purchasers’ Obligations	15
Section 2.05	Conditions to the Company’s Obligations	17
Section 2.06	Conditions to NEP’s Obligations	17
Section 2.07	Deliveries at the Closing	18
Section 2.08	Further Assurances	21

ARTICLE III REPRESENTATIONS AND WARRANTIES RELATED TO THE COMPANY ENTITIES

Section 3.01	Existence	21
Section 3.02	Capitalization and Valid Issuance of Units	22
Section 3.03	Ownership of the Class A Purchaser	23
Section 3.04	Indebtedness; Liabilities	23
Section 3.05	Formation	24
Section 3.06	No Material Adverse Change	24
Section 3.07	No Registration Required	24
Section 3.08	No Restrictions or Registration Rights	24
Section 3.09	Litigation	25
Section 3.10	No Conflicts	25
Section 3.11	Authority; Enforceability	25
Section 3.12	Approvals	26
Section 3.13	Investment Company Status	26
Section 3.14	Certain Fees	26
Section 3.15	Listing and Maintenance Requirements	27
Section 3.16	Form S-3 Eligibility	27
Section 3.17	No Side Agreements	27
Section 3.18	Affiliate Contracts and Support Obligations	27
Section 3.19	Anti-Corruption	27
Section 3.20	Money Laundering Laws	28
Section 3.21	Sanctions	28
Section 3.22	Taxes	28
Section 3.23	No Other Representations	28

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ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS

Section 4.01	Existence	28
Section 4.02	Authorization, Enforceability	29
Section 4.03	No Breach	29
Section 4.04	Certain Fees	29
Section 4.05	Unregistered Securities	29
Section 4.06	Sufficient Funds	31
Section 4.07	No Side Agreements	32
Section 4.08	Anti-Corruption	32
Section 4.09	Money Laundering Laws	32
Section 4.10	Sanctions	32
Section 4.11	Acknowledgements by the Purchasers	32
Section 4.12	No Other Representations	33

ARTICLE V COVENANTS

Section 5.01	Conduct of Business	34
Section 5.02	Listing of Units	34
Section 5.03	Cooperation; Further Assurances	34
Section 5.04	Reimbursable Fee	34
Section 5.05	Credit Support	35
Section 5.06	Company Credit Facilities	35
Section 5.07	Meade Purchase and Sale Agreement	36
Section 5.08	Class B Purchaser Financing	37
Section 5.09	Change of Control	38

ARTICLE VI INDEMNIFICATION

Section 6.01	Indemnification by the Company and NEP	38
Section 6.02	Indemnification by the Purchasers	40
Section 6.03	Indemnification Procedure	41
Section 6.04	Tax Characterization	42

ARTICLE VII TERMINATION

Section 7.01	Termination	42
Section 7.02	Certain Effects of Termination	42

ARTICLE VIII MISCELLANEOUS

Section 8.01	Expenses	43

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Section 8.02	Interpretation	43
Section 8.03	Survival of Provisions	44
Section 8.04	No Waiver: Modifications in Writing	44
Section 8.05	Binding Effect	44
Section 8.06	Non-Disclosure	45
Section 8.07	Communications	47
Section 8.08	Removal of Legend	49
Section 8.09	Entire Agreement	49
Section 8.10	Governing Law; Submission to Jurisdiction	50
Section 8.11	Waiver of Jury Trial	50
Section 8.12	Exclusive Remedy	50
Section 8.13	No Recourse Against Others	51
Section 8.14	No Third-Party Beneficiaries	52
Section 8.15	Execution in Counterparts	52



SCHEDULES:

A –	Purchaser Allocations
B(1) –	Company, Class A Purchaser and NEP Knowledge Parties
B(2) –	Class B Purchaser Knowledge Parties
C(1) –	NEP Subsidiaries
C(2) –	Company Subsidiaries
D –	Consents and Authorizations
E –	Affiliate Contracts and Support Obligations



EXHIBITS:

A –	A&R LLC Agreement
B –	Amended NEP Partnership Agreement
C –	Registration Rights Agreement



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MEMBERSHIP INTEREST PURCHASE AGREEMENT

This Membership Interest Purchase Agreement, dated as of September 29, 2019 (this “Agreement”), is entered into by and among NextEra Energy Partners Pipelines, LLC, a Delaware limited liability company (the “Company”), NextEra Energy Partners Pipelines Holdings, LLC, a Delaware limited liability company (the “Class A Purchaser”), GEPIF III Meade Investco, L.P., a Delaware limited partnership, (the “Class B Purchaser”), and NextEra Energy Partners, LP, a Delaware limited partnership (“NEP”), solely to the extent of the NEP Obligations.

WHEREAS, the Company was formed by the Class A Purchaser, as a single member limited liability company under the laws of the State of Delaware, by the Class A Purchaser entering into the limited liability company agreement of the Company, effective as of July 15, 2019 (the “Initial LLC Agreement”);

WHEREAS, at the Closing (as defined below), (i) the Initial LLC Agreement shall be amended and restated substantially in the form of the Amended and Restated Limited Liability Company Agreement of the Company attached hereto as Exhibit A (together with such amendments and modifications as the Class A Purchaser and the Class B Purchaser may mutually agree to prior to the Closing, the “A&R LLC Agreement”), (ii) in conjunction therewith, all of the outstanding limited liability company interests of the Company are being cancelled and (A) the Company desires to issue and sell to the Class A Purchaser, and the Class A Purchaser desires to purchase from the Company the Class A Purchased Units (as defined below), in exchange for the payment of the Class A Purchase Price (as defined below), on the terms and subject to the conditions set forth in this Agreement (the “Class A Units Sale”), and (B) the Company desires to issue and sell to the Class B Purchaser, and the Class B Purchaser desires to purchase from the Company, the Class B Purchased Units (as defined below), in exchange for the payment of the Class B Purchase Price (as defined below), on the terms and subject to the conditions set forth in this Agreement (the “Class B Units Sale”); and (iii) immediately following the Class A Units Sale, the Class A Purchaser will be the sole Class A Member (as defined below) of the Company and (iv) immediately following the Class B Units Sale, the Class B Purchaser will be admitted as a Class B Member (as defined below) of the Company; and

WHEREAS, immediately following the Closing, Meade Pipeline Investment, LLC, a Delaware limited liability company and indirect Subsidiary of the Company (“Meade Borrower”), shall use the proceeds of the Class A Purchase Price and the Class B Purchase Price, together with the borrowings under the Tranche A Facility Draw (as defined below) and the Tranche B Facility Draw (as defined below), to acquire the Acquired Assets (as defined below) pursuant to the Meade Purchase and Sale Agreement (as defined below).

NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:

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ARTICLE I

DEFINITIONS

Section 1.01 Definitions. As used in this Agreement, the following terms have the meanings indicated:

“2014 Registration Rights Agreement” means that certain Registration Rights Agreement by and between NEP and NextEra Energy, Inc., dated as of July 1, 2014.

“2017 Registration Rights Agreement” means that certain Registration Rights Agreement by and among NEP and the purchasers named on Schedule A thereto, dated as of November 15, 2017.

“2018 Registration Rights Agreement” means that certain Registration Rights Agreement by and among NEP, Global Energy & Power Infrastructure II Advisors, L.L.C., and Western Renewables Partners LLC, dated as of December 21, 2018.

“2019 Registration Rights Agreement” means that certain Registration Rights Agreement by and among NEP, Nitrogen TL Borrower LLC, a Delaware limited liability company, and the other purchasers named as a party thereto, dated as of June 11, 2019.

“A&R LLC Agreement” has the meaning specified in the recitals to this Agreement.

“Acquired Assets” means the Acquired Interests (as defined in the Meade Purchase and Sale Agreement), which includes the direct or indirect ownership of one hundred percent (100%) of the issued and outstanding limited liability company interests of Meade Pipeline, which is a party to the Meade Construction and Ownership Agreement and holds a joint ownership interest in the Project in such percentages as specified in Exhibit A to the Meade LLC Agreement.

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. For the avoidance of doubt, for purposes of this Agreement, (a) NEP and its Subsidiaries, on the one hand, and the Class B Purchaser, on the other, shall not be considered Affiliates and (b) any fund or account managed, advised or subadvised, directly or indirectly, by a Purchaser or its Affiliates shall be considered an Affiliate of such Purchaser.

“Affiliate Contract” means any Contract between the Company or any of its Subsidiaries, on the one hand, and NEP, the NEP GP, or the NEP Subsidiaries, or any of their respective Affiliates, on the other hand.

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

“Alternative Financing Agreement” has the meaning specified in Section 5.06(b).

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“Amended NEP Partnership Agreement” means the NEP Partnership Agreement, as shall be amended by the NEP LPA Amendment, and as may be further amended from time to time in accordance with the terms thereof.

“Anti-Corruption Law” means the FCPA.

“Business Day” means any day other than a Saturday, a Sunday, or a holiday on which national banking associations in the State of Delaware are closed.

“Call Option” has the meaning set forth in the A&R LLC Agreement.

“Change of Control” has the meaning set forth in clause (a) of the definition of “Change of Control” in the A&R LLC Agreement.

“Class A Member” has the meaning set forth in the A&R LLC Agreement.

“Class A Purchase Price” means the amount set forth opposite the Class A Purchaser’s name on Schedule A hereto under the column entitled “Purchase Price,” as adjusted upward or downward to reflect the amount of the Purchase Price Adjustments (as such term is defined and used in the Meade Purchase and Sale Agreement) used to determine the PSA Closing Purchase Price.

“Class A Purchased Units” means the number of Class A Units set forth opposite the Class A Purchaser’s name on Schedule A hereto under the column entitled “Purchased Units.”

“Class A Purchaser” has the meaning set forth in the introductory paragraph of this Agreement.

“Class A Purchaser Related Parties” has the meaning specified in Section 6.01(a).

“Class A Units” means the Company’s Class A Units, having the rights, powers, privileges, duties, and obligations described in the A&R LLC Agreement.

“Class A Units Sale” has the meaning specified in the recitals to this Agreement.

“Class B COC Option” has the meaning set forth in the A&R LLC Agreement.

“Class B Member” has the meaning set forth in the A&R LLC Agreement.

“Class B Purchase Price” means the amount set forth opposite the Class B Purchaser’s name on Schedule A hereto under the column entitled “Purchase Price”.

“Class B Purchased Units” means the number of Class B Units set forth opposite the Class B Purchaser’s name on Schedule A hereto under the column entitled “Purchased Units.”

“Class B Purchaser” has the meaning specified in the introductory paragraph of this Agreement.

“Class B Purchaser Related Parties” has the meaning specified in Section 6.01(a).

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“Class B Units” means the Company’s Class B Units, having the rights, powers, privileges, duties, and obligations described in the A&R LLC Agreement.

“Class B Units Sale” has the meaning specified in the recitals to this Agreement.

“Closing” means the consummation of the purchase and sale of the Purchased Units.

“Closing Date” means the date the Closing is actually consummated pursuant to Section 2.02(a).

“Closing Date Debt Financing” means the consummation of the Tranche A Facility Draw and the Tranche B Facility Draw, in each case, pursuant to the Term Loan Agreement.

“Code” means the Internal Revenue Code of 1986, as amended.

“Commission” means the United States Securities and Exchange Commission.

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

“Company Loan Parties” means Meade Guarantor, Meade Borrower, and Meade Pipeline.

“Company Entities” means, collectively, the Company, any Company Subsidiaries, and NEP.

“Company Subsidiaries” means the Subsidiaries of the Company prior to the Closing, as set forth on Schedule C(2) hereto.

“Confidential Information” means any and all information, documentation, and data (including all copies thereof), whether oral, written, or electronic, disclosed by a Disclosing Party prior to the Closing Date, including all such information, documentation, and data that constitute proprietary or confidential information about the Company Entities, the NEP Subsidiaries or their Representatives or Affiliates, on the one hand, and the Class B Purchaser or its Representatives or Affiliates, on the other hand, including this Agreement, any financial statements, tax reports, valuations, analyses of potential or actual investments, information about the financial condition, taxes, accounting, business, operations, assets, liabilities, prospects, legal structure, value and structure, marketing practices and techniques, business strategies and capabilities, business plans, and relationships with customers, suppliers, principals, employees, financing sources, hedging counterparties, contracting counterparties, and others, and information that is a trade secret within the meaning of applicable trade secret law, as well as any reports or other materials, and other documents and information, in each case about, or otherwise concerning the affairs of the Company Entities, the NEP Subsidiaries or their Representatives or Affiliates, on the one hand, and the Class B Purchaser or its Representatives or Affiliates, on the other hand, including any materials prepared by a Receiving Party that contain, are based on, or otherwise reflect or are generated in whole or in part from such information, documentation, or data, and including any such information or data that may be stored on any electronic media, computer, word processor, or other similar device, together with any metadata, source code, object code, firmware, or other data or information embedded in or attached to electronic

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documents or other media. Notwithstanding the foregoing, the term “Confidential Information” shall not include any information that (a) is, was, or becomes generally available to the public, other than as a result of a disclosure directly or indirectly by a Receiving Party or its Representatives and Affiliates in contravention of this Agreement; (b) was or becomes available to a Receiving Party or its Representatives or Affiliates from a source that, to such Receiving Party’s or its Representatives’ or Affiliates’ knowledge, is not prohibited from disclosing such information to such Receiving Party or its Representatives or Affiliates by a legal, contractual, or fiduciary obligation to the Disclosing Party with respect to such information; (c) as to any Receiving Party or its Representatives or Affiliates, was in the possession of such Receiving Party or its Representatives or Affiliates prior to the disclosure by the Disclosing Party and not, to such Receiving Party’s or its Representatives’ or Affiliates’ knowledge, subject to a separate confidentiality restriction or other legal, contractual, or fiduciary obligation to the Disclosing Party; or (d) has been independently acquired or developed by or on behalf of a Receiving Party or its Representatives or Affiliates without use of the Confidential Information of the Disclosing Party.

“Consent” means any approval, authorization, consent, waiver, license, qualification, written exemption from, or order of or filing with any Governmental Authority, or of or with any self-regulatory organization or other non-governmental regulatory authority (including, without limitation, the NYSE), or approval of the holders of NEP Common Units or Series A Preferred Units, or any further approval of the Class A Purchaser or any of its Affiliates.

“Contract” means any contract, agreement, indenture, note, bond, mortgage, deed of trust, loan, instrument, lease, license, commitment, or other arrangement, understanding, undertaking, or obligation, whether written or oral.

“Conversion Units” means the NEP Common Units to be issued upon conversion of Issued NEP Non-Voting Units, upon the terms and subject to the conditions of the Amended NEP Partnership Agreement.

“Credit Support” means the Tranche A Credit Support, the Tranche B Credit Support, and the Tranche C Credit Support.

“Debt Agreements” has the meaning specified in Section 5.06(a).

“Delaware LLC Act” means the Delaware Limited Liability Company Act.

“Delaware LP Act” means the Delaware Revised Uniform Limited Partnership Act.

“Disclosing Party” means, with respect to the definition of “Confidential Information” and Section 8.06(a), the party disclosing Confidential Information, including with respect to any disclosure made by such party’s Representatives or Affiliates.

“Drop-Dead Date” means March 26, 2020.

“Escrow Instruction Letter Agreement” means that certain escrow instruction letter agreement, dated as of September 29, 2019, by and among Meade Pipeline, Meade Borrower, and Morgan, Lewis & Bockius LLP.

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“Escrowed Amount” has the meaning specified in Section 2.02(a).

“Equity Commitment Letter” has the meaning specified in Section 4.06(c).

“Equity Financing” has the meaning specified in Section 4.06(c).

“Exchange Act” means the Securities and Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder.

“Expansion Project” means that certain Leidy South Project proposed by Transco as an expansion of Transco’s existing natural gas transmission system and an extension of Transco’s system through a capacity lease with National Fuel Gas Supply Corporation from points of receipt in northern and western Pennsylvania to Transco’s River Road regulating station in Lancaster County, Pennsylvania.

“FCPA” means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.

“GAAP” means generally accepted accounting principles in the United States of America as of the date hereof; provided that for the financial statements of NEP prepared as of a certain date, GAAP referenced therein shall be GAAP as of the date of such financial statements.

“Governmental Authority” means, with respect to a particular Person, any country, state, county, city, and political subdivision in which such Person or such Person’s Property is located or that exercises valid jurisdiction over any such Person or such Person’s Property, and any court, agency, arbitration body, tribunal, department, commission, board, bureau, or instrumentality of any of them, and any monetary authority that exercises valid jurisdiction over any such Person or such Person’s Property. Unless otherwise specified, all references to Governmental Authority herein with respect to the Company Entities means a Governmental Authority having jurisdiction over the Company Entities or any of their respective Properties.

“Governmental Authorization” means any authorization, approval, order, license, certificate, determination, registration, permit, or consent required of or granted by, or any notice required to be delivered to or filed with, any Governmental Authority, and, to the extent applicable, the expiration of any waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

“Indebtedness” means any amount payable by a Person as debtor, borrower, issuer, guarantor, or otherwise pursuant to (a) an agreement or instrument involving or evidencing money borrowed, or the advance of credit, including financings by Subsidiaries of such Person, and the face amount of any letter of credit supporting the repayment of indebtedness for borrowed money issued for the account of such Person and obligations under letters of credit and agreements relating to the issuance of letters of credit or acceptance of financing (in each case, only to the extent undrawn or, in the case of any drawing, not cash collateralized or reimbursed within two (2) Business Days of the date drawn); (b) indebtedness of a third party described in clause (a), (c), or (d) of this definition (i) that is guaranteed by such Person or its Subsidiaries or (ii) that is secured by any Lien on assets owned or acquired by such Person or its Subsidiaries, whether or not the indebtedness secured thereby has been assumed by such Person or its

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Subsidiaries; provided that, in the case of any Indebtedness described in this clause (ii), the amount of such Indebtedness shall be deemed to be the lesser of the outstanding principal amount of such Indebtedness or the fair market of the assets of such Person or any of its Subsidiaries securing such Indebtedness; (c) purchase-money indebtedness and capital lease obligations classified as such in accordance with GAAP (other than as a result of the adoption or implementation of Accounting Standards Codification No. 842 or any successor provision or amendment or other modification thereto); or (d) obligations evidenced by bonds, debentures, notes, or other instruments of debt securities.

“Indemnified Party” has the meaning specified in Section 6.03(b).

“Indemnifying Party” has the meaning specified in Section 6.03(b).

“Initial LLC Agreement” has the meaning specified in the recitals to this Agreement.

“Issued NEP Non-Voting Units” means the NEP Non-Voting Units to be issued upon exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option, each pursuant to the terms of the A&R LLC Agreement and the Amended NEP Partnership Agreement.

“Knowledge” means, with respect to each of the Company, the Class A Purchaser, and NEP, the actual knowledge of those individuals listed on Schedule B(1), in their capacity as employees of NextEra Energy Resources, LLC, and, with respect to the Class B Purchaser, the actual knowledge of those individuals listed on Schedule B(2).

“Law” means any federal, state, local, or foreign order, writ, injunction, judgment, settlement, award, decree, statute, law (including common law), rule, or regulation.

“Lien” means any mortgage, pledge, lien (statutory or otherwise), encumbrance, security interest, security agreement, conditional sale, trust receipt, charge, or claim, or a lease, consignment, or bailment, preference, or priority, assessment, deed of trust, easement, servitude, or other encumbrance upon or with respect to any property of any kind.

“Material Adverse Effect” means any change, event, or effect that, individually or together with any other changes, events, or effects, has had or would reasonably be expected to have a material adverse effect on (a) the business, Properties, assets, liabilities, financial condition, or results of operations of (i) NEP and its Subsidiaries, taken as a whole, or (ii) the Company and the Company Subsidiaries, taken as a whole, or (b) the ability of any of the Company Entities, as applicable, to perform its obligations under the Transaction Documents; provided, however, that a Material Adverse Effect shall not include any adverse effect on the foregoing to the extent such adverse effect results from, arises out of, or relates to (i) a general deterioration in the economy or changes in the general state of the markets or industries in which any one of the Company Entities operates (including, for the avoidance of doubt, adverse changes (A) in commodity prices, (B) in capital spending by participants or their customers in the renewable energy or natural gas energy sector, and (C) otherwise associated with changes in the renewable or natural gas energy sector and the resulting effect on (1) NEP and its Subsidiaries, taken as a whole, (2) the Company and the Company Subsidiaries, taken as a whole, or, except, with respect to this clause (i), to the extent that any of (1) or (2), each taken as

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a whole, are adversely affected in a disproportionate manner as compared to other industry participants), (ii) any deterioration in the condition of the capital markets or any inability on the part of the Company Entities to access the capital markets, (iii) the outbreak or escalation of hostilities involving the United States, the declaration by the United States of a national emergency, acts of war (whether or not declared) or the occurrence of any other calamity or crisis, including acts of terrorism, hurricane, flood, tornado, earthquake, or other natural disaster, (iv) any change in accounting requirements or principles imposed upon the Company Entities or their respective businesses or any change in applicable Law, or the interpretation thereof, (v) any change in the credit rating and/or outlook of any of the Company Entities or any of their securities (except that the underlying causes of any such changes may be considered in determining whether a Material Adverse Effect has occurred), (vi) changes in the market price or trading volume of the NEP Common Units (except that the underlying causes of any such changes may be considered in determining whether a Material Adverse Effect has occurred), or (vii) any failure of the Company or NEP to meet any internal or external projections, forecasts, or estimates of revenue or earnings for any period (except that the underlying causes of any such failures may be considered in determining whether a Material Adverse Effect has occurred).

“Meade Borrower” has the meaning specified in the recitals to this Agreement.

“Meade Construction and Ownership Agreement” means that certain Construction and Ownership Agreement, dated as of February 14, 2014, by and between Transco and Meade Pipeline, as may be amended, modified, supplemented, or restated in accordance with its terms.

“Meade Guarantor” means Meade Pipeline Investment Holdings, LLC, a Delaware limited liability company.

“Meade LLC Agreement” means the limited liability company agreement of Meade Pipeline, as in effect as of the date hereof, as may be amended, modified, supplemented, or restated from time to time in accordance with its terms.

“Meade Pipeline” means Meade Pipeline Co LLC, a Delaware limited liability company.

“Meade Purchase and Sale Agreement” means that certain Purchase and Sale Agreement, dated as of September 29, 2019, by and among the Meade Sellers, as sellers, and Meade Borrower, as buyer, as may be amended, modified, supplemented or restated from time to time in accordance with its terms.

“Meade Sellers” means, collectively, EIF Meade Holdings, LLC, a Delaware limited liability company, VED NPI II, LLC, a Delaware limited liability company, COG Holdings LLC, a Delaware limited liability company, WGL Midstream MP, LLC, a Delaware limited liability company, and VED NPI I, LLC, a Delaware limited liability company.

“Membership Interests” means the Company’s Membership Interests, including Class A Units and Class B Units, as more fully described in the A&R LLC Agreement.

“Money Laundering Laws” means the Currency and Foreign Transactions Reporting Act of 1970, as amended, and the anti-money laundering statutes and any related or similar rules, regulations, or guidelines issued, administered, or enforced by any Governmental Authority.

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“National Securities Exchange” means an exchange registered with the Commission under Section 6(a) of the Exchange Act (or any successor to such Section).

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

“NEP Change of Control Option” has the meaning set forth in the A&R LLC Agreement.

“NEP Common Units” means Common Units, as that term is defined in the NEP Partnership Agreement.

“NEP Execution Date SEC Documents” means the NEP SEC Documents publicly available and filed with or furnished to the Commission after January 1, 2019, and prior to the date of this Agreement.

“NEP Financing Agreements” has the meaning specified in Section 5.06(b).

“NEP GP” means NextEra Energy Partners GP, Inc., a Delaware corporation and the general partner of NEP.

“NEP LPA Amendment” means an amendment to the NEP Partnership Agreement providing for the issuance of NEP Non-Voting Units, and the conversion of any Issued NEP Non-Voting Units into Conversion Units substantially in the form attached hereto as Exhibit B.

“NEP Non-Voting Units” means non-voting common units of NEP that shall have the same economic rights as the NEP Common Units, except that such Non-Voting Common Units shall have no voting rights whatsoever and shall not be listed on any National Securities Exchange. Each Issued NEP Non-Voting Unit shall, subject to and in accordance with the terms of the Amended NEP Partnership Agreement, automatically convert into one Conversion Unit upon the terms of and subject to the conditions set forth in the Amended NEP Partnership Agreement.

“NEP Obligations” means the obligations of NEP specifically contained in Sections 2.01(b), 2.03, 2.04, 2.06, 2.07, 2.08, 5.01, 5.02, 5.03, 5.05, 5.06, 5.08(c), 6.01, 6.02, 6.03, 7.01, 7.02, Article III, and Article VIII.

“NEP Partnership Agreement” means the Fourth Amended and Restated Agreement of Limited Partnership of NEP, dated as of June 10, 2019, as amended from time to time in accordance with the terms thereof.

“NEP Related Parties” has the meaning specified in Section 6.02(a).

“NEP SEC Documents” means NEP’s forms, registration statements, reports, schedules, statements, and exhibits filed by it under the Exchange Act or the Securities Act, as applicable.

“NEP Subsidiaries” means, collectively, the Subsidiaries of NEP listed on Schedule C(1) attached hereto.

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“NEP Ventures” means NextEra Energy Partners Ventures, LLC, a Delaware limited liability company, and the sole member of the Class A Purchaser, as of the date hereof.

“Notice of Closing” has the meaning specified in Section 2.02(a).

“NYSE” means the New York Stock Exchange.

“Operating Partnership” means NextEra Energy Operating Partners, LP, a Delaware limited partnership.

“Operator” means The Williams Companies, Inc., a Delaware corporation.

“Organizational Documents” means, as applicable, an entity’s agreement or certificate of limited partnership, limited liability company agreement, certificate of formation, certificate or articles of incorporation, bylaws, or other similar organizational documents.

“Permits” means any and all necessary licenses, authorizations, permits, variances, waivers, exemptions, consents, and approvals.

“Permitted Loan” means any bona fide loans or other extensions of credit entered into by the Class B Purchaser or any of its Affiliates following (or in contemplation of) the exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option, with one or more financial institutions and secured by a Lien on any Issued NEP Non-Voting Units or Conversion Units held by the Class B Purchaser or any of its Affiliates.

“Person” means any individual, corporation, company, voluntary association, partnership, joint venture, trust, limited liability company, unincorporated organization, government, or any agency, instrumentality, or political subdivision thereof, or any other form of entity.

“Project” shall have the meaning set forth in the Meade LLC Agreement.

“Property” means any interest in any kind of property or asset, whether real, personal, or mixed, or tangible or intangible (including intellectual property rights).

“PSA Closing Date” means the date upon which the Closing (as defined under the Meade Purchase and Sale Agreement) of the Company’s acquisition of the Acquired Assets is consummated pursuant to the Meade Purchase and Sale Agreement.

“PSA Closing Purchase Price” means the “Estimated Purchase Price”, as that term is defined and used in the Meade Purchase and Sale Agreement.

“Purchased Units” means, with respect to each Purchaser, the Class A Units or Class B Units, as applicable, to be purchased by such Purchaser pursuant to this Agreement and, collectively, all of the Class A Purchased Units and the Class B Purchased Units.

“Purchaser Related Parties” has the meaning specified in Section 6.01(a).

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“Purchasers” means, collectively, the Class A Purchaser and the Class B Purchaser and individually, the Class A Purchaser or the Class B Purchaser, as applicable.

“Receiving Party” means, with respect to the definition of “Confidential Information” and Section 8.06(a), the party receiving Confidential Information, including with respect to any receipt made on behalf of such party by such party’s Representatives or Affiliates.

“Registration Rights Agreement” means the Registration Rights Agreement, to be entered into at the Closing, between NEP and the Class B Purchaser, substantially in the form attached hereto as Exhibit C.

“Reimbursable Fee” has the meaning specified in Section 5.04.

“Representatives” means, with respect to a specified Person, the investors, officers, directors, managers, employees, agents, advisors, counsel, accountants, investment bankers, and other representatives of such Person.

“Sanctions” means, collectively, the sanctions administered or enforced by the United States Government, including, without limitation, the U.S. Department of the Treasury’s Office of Foreign Assets Control, the United Nations Security Council, the European Union, or other relevant comprehensive economic sanctions authority.

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder.

“Series A Preferred Units” has the meaning set forth in the NEP Partnership Agreement.

“Sponsor” means Global Energy & Power Infrastructure Fund III, L.P.

“Subsidiary” means, as to any Person, any corporation or other entity of which: (a) such Person or a Subsidiary of such Person is, in the case of a partnership, a general partner or, in the case of a limited liability company, the managing member or manager thereof; (b) at least a majority of the outstanding equity interest having by the terms thereof ordinary voting power to elect a majority of the board of directors or similar governing body of such corporation or other entity (irrespective of whether or not at the time any equity interest of any other class or classes of such corporation or other entity shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by such Person or one or more of its Subsidiaries; or (c) any corporation or other entity as to which such Person consolidates for accounting purposes.

“Support Obligations” means all guaranties, letters of credit, bonds, collateral, or other credit support provided by NEP, its Affiliates, or any of their respective Subsidiaries (other than a Company Entity) on behalf of any Company Entity.

“Term Loan Agreement” means that certain Credit Agreement, dated as of September 29, 2019, by and among Meade Borrower, Meade Guarantor, the other parties that execute a Joinder (as defined therein) as contemplated by Section 5.36 thereof, the financial institutions

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from time to time party thereto as lenders, MUFG Bank, Ltd., as administrative agent for the lenders, MUFG Union Bank, N.A., as collateral agent for the secured parties and as depositary agent, and Citibank, N.A. and MUFG Bank, Ltd., as coordinating lead arrangers and joint bookrunners.

“Third-Party Claim” has the meaning specified in Section 6.03(b).

“Tranche A Credit Support” has the meaning set forth in the A&R LLC Agreement.

“Tranche A Facility” has the meaning set forth in the A&R LLC Agreement.

“Tranche A Facility Draw” means the approximately seven-hundred and fifty-seven million U.S. dollars ($757,000,000) of net proceeds to be received by the Company, on or prior to the Closing Date, under the Tranche A Facility.

“Tranche B Credit Support” has the meaning set forth in the A&R LLC Agreement.

“Tranche B Facility” has the meaning set forth in the A&R LLC Agreement.

“Tranche B Facility Draw” means the approximately sixty-eight million U.S. dollars ($68,000,000) of net proceeds to be received by the Company, on or prior to the Closing Date, under the Tranche B Facility.

“Tranche C Credit Support” has the meaning set forth in the A&R LLC Agreement.

“Tranche C Facility” has the meaning set forth in the A&R LLC Agreement.

“Transaction Documents” means, collectively, this Agreement, the Registration Rights Agreement, the A&R LLC Agreement, the Meade Purchase and Sale Agreement and any and all other agreements or instruments executed and delivered by the Purchasers, the Company or NEP or any of its Affiliates hereunder or thereunder, as applicable.

“Transco” means Transcontinental Gas Pipe Line Company, LLC, a Delaware limited liability company.

“Treasury Regulations” means the regulations (including temporary regulations) promulgated by the United States Department of the Treasury pursuant to and in respect of provisions of the Code. All references herein to sections of the Treasury Regulations shall include any corresponding provision or provisions of succeeding, similar or substitute, temporary, or final Treasury Regulations.

“Waiver, Release and Settlement Agreement” means that certain Waiver, Release and Settlement Agreement, dated as of September 29, 2019, by and among the Meade Sellers, EIF Meade Pipeline, LLC, a Delaware limited liability company, EIF Vega Midstream, LLC, a Delaware limited liability company, River Road Interests LLC, a Delaware limited liability company, VEGA Midstream MPC LLC, a Delaware limited liability company, Meade Pipeline, Meade Borrower, NEP, Operator, and Transco.

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Section 1.02 Accounting Procedures and Interpretation. Unless otherwise specified herein, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all financial statements of NEP and certificates and reports as to financial matters required to be furnished to the Purchasers hereunder shall be prepared, in accordance with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto or, in the case of unaudited statements, as permitted by Form 10-Q promulgated by the Commission) and in compliance as to form in all material respects with applicable accounting requirements and with the published rules and regulations of the Commission with respect thereto.

ARTICLE II

AGREEMENT TO SELL AND PURCHASE

Section 2.01 Sale and Purchase.

(a) At the Closing, (i) the Initial LLC Agreement shall be amended and restated substantially in the form of the A&R LLC Agreement attached hereto as Exhibit A, and (ii) all of the issued and outstanding limited liability company interests of the Company shall be cancelled, and (A) the Company shall issue and sell to the Class A Purchaser, in accordance with the terms of the A&R LLC Agreement and this Agreement, a number of Class A Units equal to the Class A Purchased Units listed on Schedule A opposite the Class A Purchaser’s name in exchange for the payment of the Class A Purchase Price and (B) the Company shall issue and sell to the Class B Purchaser, in accordance with the terms of the A&R LLC Agreement and this Agreement, a number of Class B Units equal to the Class B Purchased Units listed in Schedule A opposite the Class B Purchaser’s name in exchange for the payment of the Class B Purchase Price.

(b) Substantially concurrent with the Closing, (i) the Company will cause Meade Borrower to consummate the Closing Date Debt Financing, and (ii) NEP shall cause the Credit Support to be issued in accordance with the Term Loan Agreement and remain in full force and effect.

(c) Immediately following the Closing, the Company will cause Meade Borrower to utilize the Class A Purchase Price and the Class B Purchase Price, together with the net proceeds from the Closing Date Debt Financing, to consummate the acquisition of the Acquired Assets pursuant to the Meade Purchase and Sale Agreement in accordance with the terms thereof.

(d) Notwithstanding anything herein to the contrary, prior to the Closing, a Purchaser may assign all or a portion of its rights and obligations hereunder to one or more Affiliates or Subsidiaries of such Purchaser, and each such Affiliate or Subsidiary shall be deemed to be a Purchaser hereunder, and Schedule A shall be revised to reflect any changes resulting from such assignment; provided that the foregoing shall not relieve a Purchaser from any of its obligations hereunder to the extent not fulfilled by the Affiliate or Subsidiary to which such rights and obligations are assigned.

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Section 2.02 Closing.

(a) The Closing shall take place (i) on a Business Day specified by the Class A Purchaser in a notice to the Company and the Class B Purchaser (the “Notice of Closing”) following the satisfaction or waiver of the conditions set forth in Section 2.03, Section 2.04, Section 2.05, and Section 2.06 (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the fulfillment or waiver of those conditions at the Closing), but which Closing shall take place on the PSA Closing Date, but immediately prior to consummation of the Company’s acquisition of the Acquired Assets pursuant to the Meade Purchase and Sale Agreement and shall be (A) no earlier than twelve (12) Business Days after receipt by the Class B Purchaser of the Notice of Closing and (B) no later than the Drop-Dead Date, or (ii) at such other time and place as the Company and the Purchasers may agree, subject, in each case, to the satisfaction or waiver of the conditions set forth in Section 2.03, Section 2.04, Section 2.05, and Section 2.06 at the Closing; provided that, if the conditions set forth in Section 2.03 and Section 2.04(b) are satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the fulfillment or waiver of those conditions at the Closing), then, if requested by the Company, the Class B Purchaser shall deliver, one (1) Business Day prior to the Closing Date (but no earlier than twelve (12) Business Days after receipt by the Class B Purchaser of the Notice of Closing), the Class B Purchase Price to the Company by wire transfer of immediately available funds to an account designated by the Company in writing at least two (2) Business Days in advance, which Class B Purchase Price will be held by the Company in escrow pending the Closing (such amount, if applicable, the “Escrowed Amount”); provided, further, that, if the Closing is not consummated on the next Business Day following the funding of the Class B Purchase Price then, if requested by the Class B Purchaser in writing, the Company will promptly return the Escrowed Amount to the Class B Purchaser by wire transfer of immediately available funds to an account designated in writing by the Class B Purchaser at the time it requests the return of the Escrowed Amount.

(b) The parties hereto agree that the Class A Purchaser (on behalf of the Company) shall be required to deliver the Notice of Closing no later than twelve (12) Business Days prior to the Drop-Dead Date, and to the extent such Notice of Closing has not been delivered by such date, such Notice of Closing shall be deemed to have been given, and the Closing shall occur on the Drop-Dead Date, subject to the satisfaction or waiver of the conditions set forth in Section 2.03, Section 2.04, Section 2.05, and Section 2.06 on such date.

(c) The Closing shall take place at the offices of Skadden, Arps, Slate, Meagher & Flom LLP at One Rodney Square, Wilmington, Delaware (or such other location as agreed to by the Company and the Purchasers).

Section 2.03 Mutual Conditions. The respective obligations of the Company and each Purchaser to consummate the purchase and sale of the Purchased Units at the Closing, as well as all obligations of NEP at or after the Closing pursuant to this Agreement, shall be subject to the satisfaction, on or prior to the Closing Date, of each of the following conditions (any or all of which may be waived by a party on behalf of itself in writing, in whole or in part, to the extent permitted by applicable Law):

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(a) all Governmental Authorizations set forth in Schedule D shall have occurred or been filed or obtained and shall be in full force and effect, and all applicable waiting periods imposed by any Governmental Authority in respect thereof shall have expired;

(b) the Meade Purchase and Sale Agreement shall be in full force and effect;

(c) all of the conditions to the consummation of the Company’s acquisition of the Acquired Assets pursuant to the Meade Purchase and Sale Agreement (other than those conditions that by their nature are to be satisfied at the closing of the Meade Purchase and Sale Agreement) shall have been satisfied or, subject to Section 5.07(a), waived by the parties thereto in accordance with the terms thereof, and the closing of the Meade Purchase and Sale Agreement shall occur immediately following the Closing;

(d) the Term Loan Agreement shall be in full force and effect;

(e) all of the conditions to the consummation of the Closing Date Debt Financing, other than those conditions that by their nature are to be satisfied at the funding of the Closing Date Debt Financing, shall have been satisfied and the Closing Date Debt Financing shall be funded substantially concurrent with the Closing on the terms and conditions set forth in the Term Loan Agreement;

(f) no statute, rule, order, decree, or regulation shall have been enacted or promulgated, and no action shall have been taken, by any Governmental Authority that temporarily, preliminarily or permanently restrains, precludes, enjoins, or otherwise prohibits the consummation of the transactions contemplated hereby or makes the transactions contemplated hereby illegal; and

(g) there shall not be pending any suit, action, or proceeding by any Governmental Authority seeking to restrain, preclude, enjoin, or prohibit the transactions contemplated by this Agreement.

Section 2.04 Conditions to the Purchasers’ Obligations.

(a) Class A Purchaser. The obligation of the Class A Purchaser to consummate its purchase of Class A Purchased Units at the Closing shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by the Class A Purchaser (on behalf of the Company) in writing, in whole or in part, to the extent permitted by applicable Law):

(i) there shall not have occurred a Material Adverse Effect;

(ii) the Class B Purchaser shall have satisfied, on or prior to the Closing Date, the conditions set forth in Section 2.05 with respect to the Class B Purchaser (any or all of which conditions may be waived by the Class A Purchaser in writing, in whole or in part, to the extent permitted by applicable Law);

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(iii) the Class B Purchaser shall have performed and complied in all material respects with all of the covenants and agreements contained in this Agreement that are required to be performed or complied with by it on or prior to the Closing Date; and

(iv) the Class B Purchaser shall have delivered, or caused to be delivered, to the Company and/or the Class A Purchaser, as applicable, the Class B Purchaser’s closing deliveries described in Section 2.07(b)(ii).

(b) Class B Purchaser. The obligation of the Class B Purchaser to consummate its purchase of Class B Purchased Units at the Closing shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by the Class B Purchaser in writing, in whole or in part, to the extent permitted by applicable Law):

(i) the representations and warranties of the Company, NEP and the Class A Purchaser contained in this Agreement shall be true and correct in all material respects (other than those representations and warranties contained in Section 3.01, Section 3.02, Section 3.03, Section 3.04, Section 3.05, Section 3.11, Section 3.13, Section 3.14, or other representations and warranties that are qualified by materiality or Material Adverse Effect, which, in each case, shall be true and correct in all respects) when made and as of the Closing Date (except that representations and warranties made as of a specific date shall be required to be true and correct as of such date only);

(ii) the Company and the Class A Purchaser shall have performed and complied in all material respects with all of the covenants and agreements contained in this Agreement that are required to be performed or complied with by it on or prior to the Closing Date;

(iii) NEP shall have performed and complied in all material respects with all of the covenants and agreements contained in this Agreement that are required to be performed or complied with by it on or prior to the Closing Date;

(iv) the NYSE shall have authorized, upon official notice of issuance, the listing of the Conversion Units to be issued upon conversion of the Issued NEP Non-Voting Units into Conversion Units;

(v) no notice of delisting from NYSE shall have been received by NEP with respect to the NEP Common Units;

(vi) there shall not have occurred a Material Adverse Effect;

(vii) the Company shall have delivered, or caused to be delivered, to the Purchaser the Company’s closing deliveries described in Section 2.07(a);

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(viii) NEP shall have delivered, or caused to be delivered, to the Purchaser the closing deliveries of NEP described in Section 2.07(c); and

(ix) the Class A Purchaser shall have delivered, or caused to be delivered, to the Company the Class A Purchaser’s closing deliveries described in Section 2.07(b)(i);

(x) the Waiver, Release and Settlement Agreement shall be in full force and effect;

(xi) the Escrow Instruction Letter Agreement shall be in full force and effect; and

(xii) substantially concurrently with the Closing, the Credit Support shall have been issued in accordance with the Term Loan Agreement and shall be in full force and effect.

Section 2.05 Conditions to the Company’s Obligations. The obligation of the Company to consummate the sale and issuance of the Purchased Units to each of the Purchasers at the Closing shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by the Company in writing, in whole or in part, to the extent permitted by applicable Law):

(a) the representations and warranties of the Class B Purchaser contained in this Agreement shall be true and correct in all material respects (other than those representations and warranties that are qualified by materiality, which, in each case, shall be true and correct in all respects) when made and as of the Closing Date (except that representations and warranties made as of a specific date shall be required to be true and correct as of such date only);

(b) the Class B Purchaser shall have performed and complied in all material respects with all of the covenants and agreements contained in this Agreement that are required to be performed or complied with by it on or prior to the Closing Date; and

(c) the Class B Purchaser shall have delivered, or caused to be delivered, to the Company such Purchaser’s closing deliveries described in Section 2.07(b), as applicable.

Section 2.06 Conditions to NEP’s Obligations. The obligations of NEP to each Purchaser from and after the Closing pursuant to this Agreement shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by NEP in writing, in whole or in part, to the extent permitted by applicable Law):

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and warranties made as of a specific date shall be required to be true and correct as of such date only);

(c) the Class B Purchaser shall have delivered, or caused to be delivered, to the Company the Class B Purchaser’s closing deliveries described in Section 2.07(b), as applicable.

Section 2.07 Deliveries at the Closing.

(a) Deliveries of the Company. At the Closing (except as otherwise indicated), the Company shall deliver, or cause to be delivered, to the Purchasers:

(i) a certificate of an officer of the Company, dated as of the Closing Date, certifying as to and attaching (A) the Certificate of Formation of the Company, (B) the Initial LLC Agreement, (C) resolutions authorizing the execution and delivery of the Transaction Documents and the consummation of the transactions contemplated thereby, including the issuance of the Purchased Units, and (D) the incumbency of the officers authorized to execute the Transaction Documents on behalf of the Company, as applicable, setting forth the name and title and bearing the signatures of such officers;

(ii) a certificate of the Secretary of State of the State of Delaware, dated within ten Business Days prior to the Closing Date, to the effect that the Company is in good standing in the State of Delaware;

(iii) a certificate of an officer of the Company, dated as of the Closing Date, certifying that the conditions set forth in Section 2.04(b)(i) and Section 2.04(b)(ii) (in each case, solely as they pertain to the Company and the Company Subsidiaries) have been satisfied;

(iv) a cross-receipt executed by the Company and the Class A Purchaser, certifying as to the Company’s receipt of the Class A Purchase Price and issuance of the Class A Units to the Class A Purchaser;

(v) a cross-receipt executed by the Company and the Class B Purchaser, certifying as to the Company’s receipt of the Class B Purchase Price and issuance of the Class B Units to the Class B Purchaser; and

(vi) such other documents relating to the transactions contemplated by this Agreement as the Purchasers or their respective counsel may reasonably request.

(b) Deliveries of Each Purchaser.

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(i) Class A Purchaser. At or prior to the Closing (except as otherwise indicated), the Class A Purchaser shall deliver or cause to be delivered to the Company and/or the Class B Purchaser, as applicable:

(1) an executed counterpart to the A&R LLC Agreement, which shall have been duly executed by the Class A Purchaser;

(2) a certificate of an authorized officer of the Class A Purchaser, dated as of the Closing Date, to the effect that the conditions set forth in Section 2.04(b)(i) and Section 2.04(b)(ii) (in each case, solely as they pertain to the Class A Purchaser) have been satisfied;

(3) except to the extent offset against the Class B Purchase Price pursuant to Section 5.04, the Class A Purchaser shall deliver payment of the Reimbursable Fee by wire transfer of immediately available funds to such account as is designated at least two (2) Business Days in advance of the Closing Date by the Class B Purchaser;

(4) payment of the Class A Purchase Price to the Company, payable by wire transfer of immediately available funds to an account designated by the Company in writing at least one (1) Business Day in advance of the Closing Date;

(5) (A) an executed Internal Revenue Service Form W-9 and (B) an executed certificate of non-foreign status, dated as of the Closing Date, substantially in the form specified in Treasury Regulations Section 1.1445-2(b)(2)(iv), in each case, which shall have been duly executed by the Class A Purchaser (or, in the case that the Class A Purchaser is disregarded for U.S. federal income tax purposes, the Class A Purchaser’s regarded owner);

(6) a cross-receipt executed by the Class A Purchaser and delivered to the Company, certifying as to the Company’s receipt of the Class A Purchase Price and issuance of the Class A Units to the Class A Purchaser; and

(7) such other documents relating to the transactions contemplated by this Agreement as the Company or NEP or their respective counsel may reasonably request.

(ii) Class B Purchaser. At or prior to the Closing (except as otherwise indicated), the Class B Purchaser shall deliver or cause to be delivered to the Company and/or the Class A Purchaser, as applicable:

(1) an executed counterpart to the Registration Rights Agreement, which shall have been duly executed by the Class B Purchaser;

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(2) an executed counterpart to the A&R LLC Agreement, which shall have been duly executed by the Class B Purchaser;

(3) a certificate of an authorized officer of the Class B Purchaser, dated as of the Closing Date, to the effect that the conditions set forth in Section 2.05(a) and Section 2.05(b) (in each case, solely as they pertain to the Class B Purchaser) have been satisfied;

(4) payment of the Class B Purchase Price to the Company (including, if requested by the Company pursuant to Section 2.02(a), on the Business Day prior to the Closing Date), payable by wire transfer of immediately available funds to an account designated by the Company in writing at least two (2) Business Days in advance of the Closing Date;

(5) (A) an executed Internal Revenue Service Form W-9 and (B) an executed certificate of non-foreign status, dated as of the Closing Date, substantially in the form specified in Treasury Regulations Section 1.1445-2(b)(2)(iv), in each case, which shall have been duly executed by the Class B Purchaser (or, in the case that the Class B Purchaser is disregarded for U.S. federal income tax purposes, the Class B Purchaser’s regarded owner);

(6) a cross-receipt executed by the Class B Purchaser and delivered to the Company, certifying as to the Company’s receipt of the Class B Purchase Price and issuance of the Class B Units to the Class B Purchaser; and

(7) such other documents relating to the transactions contemplated by this Agreement as the Company or NEP or their respective counsel may reasonably request.

(c) Deliveries of NEP. At the Closing (except as otherwise indicated), NEP shall deliver, or cause to be delivered, to the Purchasers:

(i) a certificate of an officer of NEP, dated as of the Closing Date, certifying as to and attaching (A) the certificate of limited partnership of NEP, (B) the NEP Partnership Agreement, including the NEP LPA Amendment, (C) resolutions authorizing the execution and delivery of the Transaction Documents to which NEP is a party and the consummation of the transactions contemplated thereby, including the issuance of Issued NEP Non-Voting Units upon exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option, and the issuance of any Conversion Units upon conversion of Issued NEP Non-Voting Units, and (D) the incumbency of the officers authorized to execute the Transaction Documents on behalf of NEP, as applicable, setting forth the name and title and bearing the signatures of such officers;

(ii) an executed counterpart to the Registration Rights Agreement, which shall have been duly executed by NEP;

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(iii) a fully executed “Supplemental Listing Application” approving the Conversion Units for listing by NYSE;

(iv) the NEP LPA Amendment, fully executed and effective in accordance with its terms;

(v) an executed counterpart to the A&R LLC Agreement, which shall have been duly executed by NEP;

(vi) a certificate of the Secretary of State of the State of Delaware, dated within ten Business Days prior to the Closing Date, to the effect that NEP is in good standing in the State of Delaware;

(vii) an officer’s certificate of NEP, dated as of the Closing Date, certifying that the conditions set forth in Section 2.04(b)(i) and Section 2.04(b)(ii) (in each case, solely as they pertain to NEP) have been satisfied; and

(viii) such other documents relating to the transactions contemplated by this Agreement as the Class B Purchaser or its counsel may reasonably request.

Section 2.08 Further Assurances. From time to time after the date hereof, subject to any other terms and conditions of this Agreement, without further consideration, the Company, NEP and each Purchaser shall use their commercially reasonable efforts to take, or cause to be taken, all actions necessary or appropriate to consummate the transactions contemplated by this Agreement.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

RELATED TO THE COMPANY ENTITIES

(i) The Company hereby represents and warrants to the Class B Purchaser, solely with respect to those representations and warranties applicable to the Company and the Company Subsidiaries, (ii) NEP and the Class A Purchaser hereby represent and warrant to the Class B Purchaser, solely with respect to those representations and warranties applicable to the Company and the Company Subsidiaries, (iii) the Class A Purchaser hereby represents and warrants to the Class B Purchaser, solely with respect to those representations and warranties applicable to the Class A Purchaser, and (iv) NEP hereby represents and warrants to the Purchasers, solely with respect to those representations and warranties applicable to NEP, in each case, as follows:

Section 3.01 Existence.

(a) Each of the Company Entities has been duly formed and is validly existing as a limited liability company or limited partnership, as the case may be, and is in good standing under the Laws of the State of Delaware and (i) has the full limited liability company or limited partnership, as applicable, power and authority to execute and deliver this Agreement and the other Transaction Documents to which the Company Entity is a party and consummate the transactions contemplated hereby and thereby and (ii) in the case of the Company, will have,

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upon effectiveness of the A&R LLC Agreement at the Closing, full limited liability company power and authority to issue, sell, and deliver the Purchased Units.

(b) The Organizational Documents of the Company Entities have been, and in the case of the A&R LLC Agreement and NEP LPA Amendment, once executed and delivered at the Closing pursuant to Section 2.07(b)(i)(1) and Section 2.07(c)(v), as applicable, or Section 2.07(c)(iv), as applicable, will be, valid and legally binding agreements of the Company Entities, enforceable against the Company Entities, as applicable, in accordance with their respective terms; provided that, with respect to each such agreement, the enforceability thereof may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or similar Laws from time to time in effect affecting creditors’ rights and remedies generally and by general principles of equity (regardless of whether such principles are considered in a proceeding in equity or at law).

Section 3.02 Capitalization and Valid Issuance of Units.

(a) Immediately prior to the Closing, the Class A Purchaser will be the sole member of the Company and will hold of record and beneficially own all of the issued and outstanding limited liability company interests of the Company, which, upon execution and delivery of the A&R LLC Agreement at the Closing, will be cancelled. Except for the equity interests in the Company Subsidiaries, the Company does not own, directly or indirectly, any equity interests in any Person.

(b) All of the Class A Units and the Class B Units shall be, when issued at the Closing, free and clear of all Liens, except for restrictions on transferability contained in the Delaware LLC Act, the A&R LLC Agreement, or applicable state and federal securities Laws and shall be duly authorized, validly issued, and fully paid in accordance with the A&R LLC Agreement, and, other than those provisions of the Delaware LLC Act and the A&R LLC Agreement that require additional capital contributions or other payments to the Company following the Closing, no Class A Member or Class B Member shall have any obligation to make further payments for the purchase of the Class A Units or the Class B Units, respectively, or contributions to the Company by reason of their ownership of the Class A Units or the Class B Units, respectively. As of immediately following the Closing, there will be no limited liability company interests of the Company issued and outstanding other than the Class A Purchased Units and the Class B Purchased Units.

(c) There are no Persons entitled to statutory, preemptive, or other similar contractual rights to subscribe for the Purchased Units, and, except for the Purchased Units to be acquired pursuant to this Agreement, no options, warrants, or other rights to purchase, agreements or other obligations to issue, or rights to convert any obligations into or exchange any securities for, limited liability company or other ownership interests in the Company are outstanding.

(d) Upon the issuance of Issued NEP Non-Voting Units, such Issued NEP Non-Voting Units will be duly authorized, and validly issued, and fully paid (to the extent required by the Amended NEP Partnership Agreement), subject to the provisions of the Delaware LP Act, and will be free of any and all Liens and restrictions on transfer, other than (i)

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restrictions on transfer under the Amended NEP Partnership Agreement, this Agreement or applicable state and federal securities Laws, (ii) with respect to the Class B Purchaser’s (or its Affiliates’) Issued NEP Non-Voting Units, such Liens as are created by the Class B Purchaser (or its Affiliates), and (iii) such Liens as arise under the Amended NEP Partnership Agreement or the Delaware LP Act.

(e) Upon the issuance of Conversion Units upon conversion of the Issued NEP Non-Voting Units pursuant to the Amended NEP Partnership Agreement, such Conversion Units will be duly authorized, validly issued, and fully paid (to the extent required by the Amended NEP Partnership Agreement), subject to the provisions of the Delaware LP Act, and will be free of any and all Liens and restrictions on transfer, other than (i) restrictions on transfer under the Amended NEP Partnership Agreement, this Agreement or applicable state and federal securities Laws, (ii) with respect to the Class B Purchaser’s (or its Affiliates’) Conversion Units, such Liens as are created by the Class B Purchaser (or its Affiliates), and (iii) such Liens as arise under the Amended NEP Partnership Agreement or the Delaware LP Act.

(f) Immediately prior to the Closing, all of the outstanding equity interests of each Company Subsidiary are held of record and beneficially owned by the Company or by one or more wholly-owned Company Subsidiaries as set forth on Schedule C(2), free and clear of all Liens, except for restrictions on transferability contained in the Delaware LLC Act, the Organizational Documents of such Company Subsidiary, or applicable state and federal securities laws, and are duly authorized, validly issued, and fully paid in accordance with such Organizational Documents. Except for the equity interests in any other Company Subsidiary, no Company Subsidiary owns, directly or indirectly, any equity interests in any Person. As of immediately following the Closing, there will be no limited liability company interests of any Company Subsidiary issued and outstanding other than the limited liability company interests of such Company Subsidiary issued and outstanding as of the date hereof.

(g) There are no Persons entitled to statutory, preemptive, or other similar contractual rights to subscribe for limited liability company or other ownership interests in any Company Subsidiary, and no options, warrants, or other rights to purchase, agreements or other obligations to issue, or rights to convert any obligations into or exchange any securities for, limited liability company or other ownership interests in any Company Subsidiary are outstanding.

Section 3.03 Ownership of the Class A Purchaser. NEP Ventures is an indirect wholly owned subsidiary of the Operating Partnership and is the sole record and beneficial owner of all of the limited liability company interests in the Class A Purchaser, free and clear of all Liens (other than transfer restrictions under the limited liability company agreement of NEP Ventures or applicable state and federal securities Laws and Liens imposed under any applicable agreement of indebtedness or as arise under the Delaware LLC Act).

Section 3.04 Indebtedness; Liabilities. As of the date hereof, the Company and the Company Subsidiaries have, and until the consummation of the Closing Date Debt Financing, the Company and the Company Subsidiaries will have, no outstanding Indebtedness or other liabilities or obligations (known, unknown, accrued, absolute, contingent, determined or determinable, or otherwise), other than their applicable obligations under this Agreement, the

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Meade Purchase and Sale Agreement, the Term Loan Agreement, and obligations incurred in connection therewith and with the Company’s and the Company Subsidiaries’ formations.

Section 3.05 Formation.

(a) The Company was formed for the transaction of any lawful business for which a limited liability company may be formed under the Delaware LLC Act. Upon the effectiveness of the A&R LLC Agreement, the purposes of the Company will be acquiring, accepting, owning, holding, selling, leasing, transferring, financing, refinancing, exchanging, managing, and operating, directly or indirectly through its Subsidiaries, the Acquired Assets and any other assets acquired by the Company or the Company Subsidiaries after the Closing in accordance with the A&R LLC Agreement (including the Company’s and the Company Subsidiaries’ interest in the Expansion Project), together with the liabilities related thereto, including pursuant to the Meade Purchase and Sale Agreement, the Term Loan Agreement, and any ancillary agreements executed in connection therewith, and the Company has not engaged in any business activities other than the foregoing and its formation activities. Prior to the consummation of the Closing, the Company will not have assets or Properties other than the equity interests in its wholly owned, direct and indirect Company Subsidiaries, and bank accounts.

(b) The Company Subsidiaries were formed for the transaction of any lawful business for which a limited liability company may be formed under the Delaware LLC Act. Prior to the consummation of the Closing, no Company Subsidiaries will have any assets or Properties other than the equity interests of any Subsidiary of such Company Subsidiary as set forth in Schedule C(2), and bank accounts.

Section 3.06 No Material Adverse Change. Since December 31, 2018, except as described in the NEP Execution Date SEC Documents, there has not been any Material Adverse Effect.

Section 3.07 No Registration Required. Assuming the accuracy of the representations and warranties of each Purchaser contained in Article IV, the issuance and sale of the Purchased Units to such Purchaser pursuant to this Agreement is exempt from registration requirements of the Securities Act, and neither the Company nor, to the Company’s Knowledge, any Person acting on its behalf, has taken or will take any action hereafter that would cause the loss of such exemption.

Section 3.08 No Restrictions or Registration Rights. Except as described in the A&R LLC Agreement, this Agreement, the NEP Partnership Agreement, the NEP LPA Amendment, the 2019 Registration Rights Agreement, the 2018 Registration Rights Agreement, the 2017 Registration Rights Agreement, the 2014 Registration Rights Agreement, or the NEP SEC Documents, (a) there are no restrictions upon the transfer of any Class B Purchased Units, Issued NEP Non-Voting Units, or Conversion Units, nor any restrictions on the voting of Class B Purchased Units or Conversion Units and (b) except for such rights that have been waived or as expressly set forth in the Registration Rights Agreement, the 2019 Registration Rights Agreement, the 2018 Registration Rights Agreement, and the 2017 Registration Rights Agreement, neither the offering and sale of the Purchased Units as contemplated by this

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Agreement, nor any issuance of Issued NEP Non-Voting Units or Conversion Units, gives rise to any rights for or relating to the registration of any Purchased Units or other securities of the Company.

Section 3.09 Litigation. Except as described in the NEP Execution Date SEC Documents, there are no actions, suits, claims, investigations, orders, injunctions, or proceedings pending or, to the Knowledge of the Company or NEP, threatened or contemplated, to which the Company Entities or any of their respective directors or officers is or would be a party or to which any of their respective Properties is or would be subject at law or in equity, before or by any Governmental Authority, or before or by any self-regulatory organization or other non-governmental regulatory authority (including, without limitation, the NYSE), that would, individually or in the aggregate, if resolved adversely to the Company Entities, constitute a Material Adverse Effect, or that would challenge the validity of any of the Transaction Documents or the right of either of the Company or NEP to enter into any of the Transaction Documents or to consummate the transactions contemplated thereby.

Section 3.10 No Conflicts. The issuance and sale by the Company of the Purchased Units, the application of the proceeds thereof, the execution, delivery and performance of the Transaction Documents, the consummation of the transactions contemplated thereby, and the issuance by NEP of any Issued NEP Non-Voting Units or Conversion Units will not conflict with, result in any breach or violation of, constitute a default under, or constitute any event that, with notice, lapse of time, or both, would result in any breach or violation of, (a) the Organizational Documents, as may be amended pursuant to this Agreement, of either the Company, the Class A Purchaser, or NEP, (b) any Contract to which any of the Company Entities is a party or by which any of the Company Entities or any of their respective Properties may be bound or affected (including, for the avoidance of doubt, the Meade Purchase and Sale Agreement), (c) any Law applicable to the Company Entities, (d) any rule or regulation of any self-regulatory organization or other non-governmental regulatory authority (including, without limitation, the rules and regulations of NYSE), or (e) any decree, judgment, or order applicable to any of the Company Entities or any of their respective Properties, except in the cases of clauses (b) through (d) for any such conflicts, breaches, violations, or defaults that would not, individually or in the aggregate, constitute a Material Adverse Effect.

Section 3.11 Authority; Enforceability. The Company will have all requisite power and authority under the A&R LLC Agreement, upon execution and delivery thereof at the Closing, and the Delaware LLC Act to issue, sell, and deliver the Purchased Units in accordance with and upon the terms and conditions set forth in this Agreement and the A&R LLC Agreement. NEP will have all requisite power and authority under the Amended NEP Partnership Agreement, upon execution and delivery of the NEP LPA Amendment at the Closing, and the Delaware LP Act to issue any Issued NEP Non-Voting Units and Conversion Units in accordance with and upon the terms and conditions set forth in the A&R LLC Agreement and the Amended NEP Partnership Agreement. All corporate, limited liability company, or limited partnership action required to be taken by the Company or NEP or any of their partners or members for the authorization, issuance, sale, and delivery of the Purchased Units, the execution and delivery of the Transaction Documents, and the consummation of the transactions contemplated thereby, including the exercise of the Call Option, the issuance of NEP Non-Voting Units, and the issuance of Conversion Units, each in accordance with the A&R

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LLC Agreement and the Amended NEP Partnership Agreement, shall have been validly taken at or prior to the Closing. No further approval from the Class A Purchaser is required under the Initial LLC Agreement in connection with the Company’s issuance and sale of the Purchased Units to the Purchasers. No approval from the holders of NEP Common Units or Series A Preferred Units is required for NEP to issue the Issued NEP Non-Voting Units or the Conversion Units, each in accordance with the A&R LLC Agreement and the Amended NEP Partnership Agreement. Each of the Transaction Documents has been duly and validly authorized and has been or, with respect to the A&R LLC Agreement, the NEP LPA Amendment and the Transaction Documents to be delivered at the Closing, will be, validly executed and delivered by the Company, the Company Subsidiaries, or NEP, as the case may be, and, to the Knowledge of the Company and NEP, each of the other parties thereto. Each of the Transaction Documents constitutes, or will constitute at the Closing, the legal, valid, and binding obligations of the Company, the Company Subsidiaries, or NEP, as the case may be, and, to the Knowledge of the Company and NEP, each of the parties thereto, in each case enforceable in accordance with its terms; provided that, with respect to each such agreement, the enforceability thereof may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, or similar Laws from time to time in effect affecting creditors’ rights and remedies generally and by general principles of equity (regardless of whether such principles are considered in a proceeding in equity or at law).

Section 3.12 Approvals. No Consent is required in connection with the issuance and sale of the Purchased Units by the Company, the issuance by NEP of any Issued NEP Non-Voting Units upon exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option, or the issuance by NEP of Conversion Units upon conversion of the Issued NEP Non-Voting Units, the execution, delivery, and performance of this Agreement and the other Transaction Documents by the Company or NEP or any other party thereto and the consummation by the Company and NEP of the transactions contemplated hereby or thereby, other than Consents (a) required by the Commission in connection with NEP’s obligations under the Registration Rights Agreement, the 2019 Registration Rights Agreement, the 2018 Registration Rights Agreement, and the 2017 Registration Rights Agreement, (b) required under the applicable state securities or “blue sky” Laws, (c) set forth on Schedule D hereto, (d) that have been, or prior to the Closing Date will be, obtained, (e) Consents required by the Meade Purchase and Sale Agreement, and (f) Consents, the absence or omission of which would not, individually or in the aggregate, have a Material Adverse Effect.

Section 3.13 Investment Company Status. Neither the Company nor NEP is, and upon the issuance and sale of the Purchased Units as herein contemplated and the application of the net proceeds therefrom, neither the Company nor NEP will be, an “investment company” or an entity “controlled” by an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended.

Section 3.14 Certain Fees. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission from the Purchasers with respect to the sale of any of the Purchased Units or the consummation of the transactions contemplated by this Agreement based upon arrangements made by or on behalf of the Company or NEP.

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Section 3.15 Listing and Maintenance Requirements. The NEP Common Units are listed on the NYSE, and NEP has not received any notice of delisting. The issuance and sale of the Purchased Units and the issuance of any Issued NEP Non-Voting Units or Conversion Units will not contravene the NYSE rules and regulations.

Section 3.16 Form S-3 Eligibility. NEP is eligible to register the Conversion Units, if and when issued, for resale by the Purchasers under Form S-3 promulgated under the Securities Act.

Section 3.17 No Side Agreements. There are no binding agreements by, among, or between the Company or NEP or any of their Affiliates, on the one hand, and any Purchaser or any of its Affiliates, on the other hand, with respect to the transactions contemplated hereby other than the Transaction Documents and the agreements and instruments contemplated thereby, and the Initial LLC Agreement.

Section 3.18 Affiliate Contracts and Support Obligations.

(a) Schedule E sets forth a true and complete list of (i) all of the Affiliate Contracts and (ii) all Support Obligations, in each case with all amendments, modifications, and supplements thereto. Each Affiliate Contract constitutes a legal, valid, binding, and enforceable obligation of the Company Entity party thereto and, to the Knowledge of the Company, the other parties thereto, and is enforceable in accordance with its terms. Each Affiliate Contract and each Support Obligation is in full force and effect in all material respects.

(b) No Company Entity, nor to the Knowledge of the Company, any of the other parties thereto, is in material breach, violation, or default, and, to the Knowledge of the Company, no event, condition, or omission exists or has occurred which with notice or lapse of time or both would constitute any such material breach, violation, or default, or permit termination, modification, or acceleration by such other parties, under such Affiliate Contracts.

(c) The Company has not received any notice that any Affiliate Contract is not in full force or effect or that any party to any of the Affiliate Contracts intends to terminate or fail to renew at the end of its term, materially increase or decrease any rates, costs, or fees charged to or payable by or to the Company or any of its Subsidiaries, or materially reduce the goods and services provided to or by the Company or any of its Subsidiaries under any Affiliate Contract. The Company has made available to Purchasers true and complete copies of all material Affiliate Contracts.

Section 3.19 Anti-Corruption. (a) None of the Company Entities or, to the Knowledge of the Company or NEP, any director, officer, agent, employee, Affiliate, or other Person acting on behalf of any Company Entity has taken any action, directly or indirectly, in violation of any Anti-Corruption Law; and (b) such Company Entities and, to the Knowledge of the Company or NEP, their Affiliates have conducted their businesses in compliance with Anti-Corruption Laws in all material respects and have instituted and maintain policies and procedures reasonably designed to ensure continued compliance therewith by the Company Entities in all material respects.

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Section 3.20 Money Laundering Laws. The operations of each of the Company Entities are and have been conducted at all times in compliance in all material respects with applicable financial recordkeeping and reporting requirements of the Money Laundering Laws and no action, suit, or proceeding by or before any Governmental Authority involving the Company Entities with respect to the Money Laundering Laws is pending or, to the best Knowledge of the Company or NEP, threatened.

Section 3.21 Sanctions. None of the Company Entities or, to the Knowledge of the Company or NEP, any director, officer, agent, employee, Affiliate, or representative of any Company Entity is a Person currently the subject or target of any Sanction, nor is any Company Entity located, organized, or resident in a country or territory that is the subject of Sanctions. The Company Entities will not directly or indirectly use the proceeds of the sale of the Purchased Units, or lend, contribute, or otherwise make available such proceeds to any Subsidiary, joint venture partner, or other Person to fund or facilitate any activities of or business with any Person, or in any country or territory, that, at the time of such funding or facilitation, is the subject of Sanctions or in any other manner that will result in a violation by any Person (including any Person participating in the transaction, whether as underwriter, advisor, investor, or otherwise) of Sanctions.

Section 3.22 Taxes. The Company and each of its Subsidiaries is treated as a disregarded entity for U.S. federal and state and local income tax purposes.

Section 3.23 No Other Representations. Except for the representations and warranties expressly set forth in this Article III or as expressly set forth in the Meade Purchase and Sale Agreement, none of the Company Entities or any Affiliate or Representative of the Company Entities makes any representation or warranty, whether oral or written, express or implied, statutory or otherwise, with respect to the Company Entities, the Purchased Units, or the Acquired Assets or with respect to any other information provided or made available to the Purchasers in connection with the transactions contemplated by this Agreement, including any information, documents, projections, estimates, budgets, forecasts, or other material made available to the Purchasers or to their respective Representatives in any electronic data room or otherwise in expectation of the transactions contemplated by this Agreement, and any such other representations or warranties are hereby expressly disclaimed, and none shall be implied at law or in equity.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

OF THE PURCHASERS

Each of the Purchasers, severally but not jointly, represents and warrants and covenants to the Company and NEP as follows; provided, however, that the representations and warranties set forth in Section 4.06(a) are made solely by the Class A Purchaser and the representations and warranties set forth in the second sentence of Section 4.01 and in Section 4.06(b), (c), and (d) are made solely by the Class B Purchaser:

Section 4.01 Existence. Such Purchaser is duly organized and validly existing and in good standing under the Laws of its state of formation, with all necessary power and

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authority to own properties and to conduct its business as currently conducted. The Class B Purchaser engages in no other business than acquiring, owning, holding, selling, transferring, and financing the Class B Purchased Units.

Section 4.02 Authorization, Enforceability. Such Purchaser has all necessary legal power and authority to enter into, deliver, and perform its obligations under the Transaction Documents to which it is a party. The execution, delivery, and performance of such Transaction Documents by such Purchaser and the consummation by it of the transactions contemplated thereby have been duly and validly authorized by all necessary legal action, and no further consent or authorization of such Purchaser is required. Each of the Transaction Documents to which such Purchaser is a party has been duly executed and delivered by such Purchaser, where applicable, and constitutes a legal, valid, and binding obligation of such Purchaser; provided that, with respect to each such agreement, the enforceability thereof may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, or similar Laws from time to time in effect affecting creditors’ rights and remedies generally and by general principles of equity (regardless of whether such principles are considered in a proceeding in equity or at law).

Section 4.03 No Breach. The execution, delivery, and performance of the Transaction Documents to which such Purchaser is a party by such Purchaser and the consummation by such Purchaser of the transactions contemplated thereby will not (a) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any material agreement to which such Purchaser is a party or by which such Purchaser is bound or to which any of the Property or assets of such Purchaser is subject, (b) conflict with or result in any violation of the provisions of the Organizational Documents of such Purchaser, or (c) violate any Law of any Governmental Authority or body having jurisdiction over such Purchaser or the Property or assets of such Purchaser, except in the case of clauses (a) and (c), for such conflicts, breaches, violations, or defaults as would not prevent the consummation of the transactions contemplated by such Transaction Documents.

Section 4.04 Certain Fees. No fees or commissions are or will be payable by such Purchaser to brokers, finders, or investment bankers with respect to the purchase of any of the Purchased Units or the consummation of the transactions contemplated by this Agreement, except for fees or commissions for which the Company and NEP are not responsible.

Section 4.05 Unregistered Securities.

(a) Accredited Investor Status; Sophisticated Purchaser. Such Purchaser is an “accredited investor” within the meaning of Rule 501 under the Securities Act and is able to bear the risk of its investment in the Purchased Units and, with respect to the Class B Purchaser, any Issued NEP Non-Voting Units and Conversion Units, as may be applicable. Such Purchaser has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the purchase of the Purchased Units and, with respect to the Class B Purchaser, the holding of any Issued NEP Non-Voting Units or Conversion Units, as applicable.

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(b) Information. Such Purchaser and its Representatives have been furnished with all materials relating to the business, finances, and operations of each of the Company and NEP that have been requested and any materials that have been requested by such Purchaser relating to the offer and sale of the Purchased Units and the issuance of any Issued NEP Non-Voting Units or Conversion Units. Such Purchaser and its Representatives have been afforded the opportunity to ask questions of each of the Company and NEP. Neither such inquiries nor any other due diligence investigations conducted at any time by such Purchaser and its Representatives shall modify, amend, or affect such Purchaser’s right (i) to rely on the Company’s or NEP’s, as applicable, representations and warranties contained in Article III or (ii) to indemnification or any other remedy based on, or with respect to the accuracy or inaccuracy of, or compliance with, the representations, warranties, covenants, and agreements in any Transaction Document. Such Purchaser understands that its purchase of the Purchased Units involves a high degree of risk. Such Purchaser has sought such accounting, legal, and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Purchased Units.

(c) Residency. Such Purchaser shall cooperate reasonably with the Company or NEP, as applicable, to provide any information necessary for any applicable securities filings in connection with the transactions contemplated by this Agreement.

(d) Legends.

(ii) Issued NEP Non-Voting Units. Such Purchaser understands that any Issued NEP Non-Voting Units will bear a restrictive legend as provided in the Amended NEP Partnership Agreement.

(iii) Conversion Units. Such Purchaser understands that, until such time as any Conversion Units have been sold pursuant to an effective registration statement under the Securities Act, or the Conversion Units are eligible for resale pursuant to Rule 144 promulgated under the Securities Act without any restriction as to the number of securities as of a particular date that can then be immediately sold, the Conversion Units will bear a restrictive legend as provided in the Amended NEP Partnership Agreement.

(e) Purchase Representation. Such Purchaser is purchasing the Purchased Units for its own account and not with a view to distribution in violation of any securities laws. Such Purchaser has been advised and understands that none of the Purchased Units, Issued NEP Non-Voting Units, or Conversion Units has been registered under the Securities Act or under the “blue sky” Laws of any jurisdiction and may be resold only if registered pursuant to the provisions of the Securities Act (or, if eligible, pursuant to the provisions of Rule 144 promulgated under the Securities Act or pursuant to another available exemption from the registration requirements of the Securities Act). Such Purchaser has been advised and understands that the Company, in issuing the Purchased Units, and NEP, in agreeing to issue any Issued NEP Non-Voting Units or Conversion Units, are relying upon, among other things, the representations and warranties of such Purchaser contained in this Article IV in concluding that such issuance is a “private offering” and is exempt from the registration provisions of the Securities Act.

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(f) Rule 144. Such Purchaser understands that there is no public trading market for the Purchased Units, that no such market is expected to develop and that the Purchased Units must be held indefinitely unless and until (i) Issued NEP Non-Voting Units are issued upon exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option, (ii) such Issued NEP Non-Voting Units are converted into Conversion Units, and (iii) such Conversion Units are registered under the Securities Act or an exemption from registration is available. Such Purchaser has been advised of and is aware of the provisions of Rule 144 promulgated under the Securities Act.

(g) Reliance by the Company and NEP. Such Purchaser understands that the Purchased Units (and, subsequently, any Issued NEP Non-Voting Units and Conversion Units that may be issued) are being offered and sold in reliance on a transactional exemption from the registration requirements of federal and state securities Laws and that the Company and NEP are relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments, and understandings of such Purchaser set forth herein in order to determine the applicability of such exemptions and the suitability of such Purchaser to acquire the Purchased Units, any Issued NEP Non-Voting Units and any Conversion Units.

Section 4.06 Sufficient Funds.

(a) The Class A Purchaser will have available to it at the Closing sufficient funds to enable it to pay in full at the Closing the entire amount of the Class A Purchase Price in immediately available funds.

(b) The Class B Purchaser will have available to it at the Closing sufficient funds to enable it to pay in full at the Closing (or if requested by the Company pursuant to Section 2.02(a), on the Business Day prior to the Closing Date) the entire amount of the Class B Purchase Price in immediately available funds.

(c) The Class B Purchaser has delivered to the Company a correct and complete copy of an executed equity commitment letter (the “Equity Commitment Letter,” and the equity financing set forth therein (the “Equity Financing”)) from the Sponsor to provide Equity Financing at the Closing (or if requested by the Company pursuant to Section 2.02(a), on the Business Day prior to the Closing Date) in an amount equal to the Class B Purchase Price and payment of all fees and expenses of the Class B Purchaser due and payable at the Closing. The Equity Commitment Letter provides that each of the Company and NEP is a third party beneficiary thereof. As of the date of this Agreement, (i) the Equity Commitment Letter is in full force and effect and has not been amended or modified in any respect and (ii) the commitments contained in the Equity Commitment Letter have not been withdrawn, modified, reduced, or rescinded in any respect. As of the date hereof, the Equity Commitment Letter constitutes a valid, binding, and enforceable obligation of the Class B Purchaser and, to the Knowledge of the Class B Purchaser, the Equity Commitment constitutes a valid, binding, and enforceable obligation of the Sponsor to provide the Equity Financing contemplated thereby, subject only to the satisfaction or waiver of the conditions set forth therein in accordance with the terms thereof, except as may be limited by Laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether considered in a proceeding at law or in equity). There are no side letters, other agreements, or other arrangements that would permit the Sponsor to reduce

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the amount of the Equity Financing or that would otherwise adversely affect the availability of the Equity Financing on the Closing Date. As of the date of this Agreement, no event has occurred that, with or without notice, lapse of time, or both, would constitute a default or breach on the part of the Class B Purchaser under the Equity Commitment Letter or, to the Knowledge of the Class B Purchaser, any other party to the Equity Commitment Letter. The Class B Purchaser has fully paid any and all commitment fees or other fees required by the Equity Commitment Letter, any related fee letter, and any other document entered into in connection with, or related thereto, to be paid on or before the date of this Agreement.

(d) The aggregate proceeds from the Equity Financing plus the Reimbursable Fee constitute all of the financing required by the Class B Purchaser to consummate the transactions, and satisfy their obligations, contemplated by this Agreement, including the payment of the Class B Purchase Price at the Closing (or if requested by the Company pursuant to Section 2.02(a), on the Business Day prior to the Closing Date) and payment of all fees and expenses of the Class B Purchaser due and payable at the Closing. The Equity Commitment Letter contains all of the conditions precedent to the obligations of the Sponsor to make the Equity Financing available to the Class B Purchaser at or prior to the Closing, and there are no other conditions precedent to such funding.

Section 4.07 No Side Agreements. Other than the Initial LLC Agreement, there are no binding agreements by, among, or between the Company or any of its Affiliates, on the one hand, and such Purchaser or any of its Affiliates, on the other hand, with respect to the transactions contemplated hereby other than the Transaction Documents and the agreements and instruments contemplated thereby.

Section 4.08 Anti-Corruption. (a) Neither such Purchaser nor, to the Knowledge of such Purchaser, any director, officer, agent, employee, Affiliate, or other Person acting on behalf of such Purchaser has taken any action, directly or indirectly, in violation of any Anti-Corruption Law; and (b) such Purchaser and, to the Knowledge of such Purchaser, its Affiliates (but in the case of the Class B Purchaser, solely the Sponsor) have conducted their businesses in compliance with Anti-Corruption Laws in all material respects and have instituted and maintain policies and procedures reasonably designed to ensure continued compliance therewith by such Purchaser in all material respects.

Section 4.09 Money Laundering Laws. The operations of such Purchaser are and have been conducted at all times in compliance in all material respects with applicable financial recordkeeping and reporting requirements of the Money Laundering Laws and no action, suit, or proceeding by or before any Governmental Authority involving such Purchaser with respect to the Money Laundering Laws is pending or, to the best Knowledge of such Purchaser, threatened.

Section 4.10 Sanctions. Neither such Purchaser nor, to the Knowledge of such Purchaser, any director, officer, agent, employee, Affiliate, or representative of such Purchaser is a Person currently the subject or target of any Sanction, nor is such Purchaser located, organized, or resident in a country or territory that is the subject of Sanctions.

Section 4.11 Acknowledgements by the Purchasers.

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(a) The representations and warranties of the Company, the Class A Purchaser, and NEP expressly and specifically set forth in Article III constitute the sole and exclusive representations, warranties, and statements (including by omission) of any kind of the Company, the Class A Purchaser, NEP, and their respective Affiliates and Representatives in connection with the transactions contemplated by this Agreement, and none of the Company, the Class A Purchaser, NEP, or any of their respective Affiliates or Representatives has made, and such Purchaser has not relied on, any other representations, warranties, or statements (including by omission) of any kind or nature, whether oral or written, express or implied, statutory or otherwise, as to any matter concerning the Company Entities or their respective Affiliates or Representatives, the Purchased Units, the Acquired Assets, the accuracy or completeness of any information provided to (or otherwise obtained by) such Purchaser or its Affiliates or Representatives or in connection with the transactions contemplated by this Agreement.

(b) (i) Such Purchaser is an informed and sophisticated purchaser and has engaged expert advisors, experienced in the evaluation and purchase of securities such as the Purchased Units as contemplated hereunder; (ii) such Purchaser has conducted, to its satisfaction, and to its Representatives’ satisfaction, its own full and complete independent review and analysis of the businesses, assets, condition, operations, and prospects of the Company and the Assets to be acquired by the Company and, in making its determination to proceed with the transactions contemplated by this Agreement, such Purchaser has relied solely on the results of its own independent review and analysis and the representations and warranties of the Company, the Class A Purchaser, and NEP expressly and specifically set forth in Article III, and such Purchaser has not relied on any other representations, warranties, or statements (including by omission) of any kind of the Company, the Class A Purchaser, NEP, or their respective Affiliates or Representatives; (iii) NEP and the Company have given such Purchaser and its Representatives complete and open access to the books and records, key employees, documents, facilities, equipment, Contracts, and other information relating to the Purchased Units and the Acquired Assets and have provided all materials relating to the acquisition of the Purchased Units and the Acquired Assets that such Purchaser and its Representatives have requested, and such Purchaser and its Representatives have been afforded the opportunity to obtain any additional information necessary to verify the accuracy of any such information or of any representation or warranty made by the Company, the Class A Purchaser, or NEP, or to otherwise evaluate the merits of the transactions contemplated under this Agreement; (iv) such Purchaser and its Representatives have reviewed all of the documents, records, reports, and other materials made available by (or on behalf of) NEP and the Company in any electronic data room or otherwise and are familiar with the content thereof; and (v) NEP and the Company have answered, to the satisfaction of such Purchaser, all inquiries that such Purchaser or its Representatives have made concerning the Purchased Units, the Acquired Assets, or otherwise relating to the transactions contemplated under this Agreement.

Section 4.12 No Other Representations. Except for the representations and warranties contained in this Article IV and in the case of the Class A Purchaser, those representations and warranties made by the Class A Purchaser in Article III in its capacity as sole member of the Company prior to the consummation of the Closing, such Purchaser makes no representation or warranty, whether oral or written, express or implied, statutory or otherwise, with respect to such Purchaser or with respect to any other information provided or made available to NEP or the Company in connection with the transactions contemplated hereby, including any information,

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documents, projections, estimates, budgets, forecasts, or other material made available to NEP or the Company or their respective Representatives in expectation of the transactions contemplated by this Agreement, and any such other representations or warranties are hereby expressly disclaimed, and none shall be implied at law or in equity.

ARTICLE V

COVENANTS

Section 5.01 Conduct of Business. During the period commencing on the date of this Agreement and ending on the Closing Date, each of the Company and NEP will use commercially reasonable efforts to conduct their respective business in the ordinary course of business, preserve intact its existence and business organization, Permits, goodwill, and present business relationships with all material customers, suppliers, licensors, distributors, and others having significant business relationships with either the Company or NEP (as applicable), to the extent the Company or NEP, as applicable, believes in its sole discretion that such relationships are and continue to be beneficial to either the Company or NEP, as applicable, and their respective businesses; provided, however, that during such period, the Company or NEP, as applicable, shall, as promptly as practicable, provide written notice to the Purchasers regarding any material adverse developments in respect of the foregoing. Prior to the Closing, without the prior written consent of the Purchasers, no Company Entity will (a) modify, amend, or waive in any material respect any provision of the Initial LLC Agreement (other than adoption of the A&R LLC Agreement at the Closing), any Organizational Documents of any Company Subsidiary or the NEP Partnership Agreement (other than in connection with the NEP LPA Amendment) that is, in the case of the NEP Partnership Agreement, material to (i) the rights of the Company or NEP, as applicable, or (ii) the rights of the Purchasers, in their capacity as purchasers of the applicable Purchased Units, or (b) unless contemplated by this Agreement, the Term Loan Agreement, or any other Transaction Document, take any actions that would be prohibited by Section 6.03 or Section 6.04 of the A&R LLC Agreement, in any such case, if the taking of such actions would have been prohibited without the requisite consent of the Class B Purchaser following the Closing.

Section 5.02 Listing of Units. Prior to the Closing, NEP will use its commercially reasonable efforts to obtain approval for listing the Conversion Units, subject to notice of issuance of Conversion Units at the appropriate time.

Section 5.03 Cooperation; Further Assurances. Each of the Company, NEP and the Purchasers shall use its respective commercially reasonable efforts to obtain all approvals and consents (including any Governmental Authorizations) required by or necessary to consummate the transactions contemplated by this Agreement and the other Transaction Documents. Each of the Company, NEP, and the Purchasers agrees to execute and deliver all such documents or instruments, to take all commercially reasonable action and to do all other commercially reasonable things it determines to be necessary, proper, or advisable under applicable Laws and regulations or as otherwise reasonably requested by the other to consummate the transactions contemplated by this Agreement.

Section 5.04 Reimbursable Fee. At the Closing, the Class B Purchaser shall be paid a fee equal to six million and six hundred eighty thousand U.S. dollars ($6,680,000.00)

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(the “Reimbursable Fee”). The Reimbursable Fee shall be paid by the Class A Purchaser in immediately available funds at the Closing pursuant to Section 2.07(b)(i)(3). In lieu of paying the Reimbursable Fee to the Class B Purchaser, the Company or the Class B Purchaser may elect that the Class B Purchaser offset the Reimbursable Fee against the Class B Purchase Price, in which case the amount of the Class B Purchase Price required to be funded at Closing (or if requested by the Company pursuant to Section 2.02(a), on the Business Day prior to the Closing Date) shall be reduced by the amount of the Reimbursable Fee.

Section 5.05 Credit Support. Each of NEP and the Company shall, at the sole expense of NEP, use its reasonable best efforts to take, and to cause to be taken, including by the Operating Partnership and the Company Loan Parties, all actions, and to do, and to cause to be done, all things necessary, proper, or advisable to cause the Credit Support (i) to be issued in accordance with the terms of the Term Loan Agreement at or prior to the Closing and (ii) to remain in full force and effect from and after the Closing for such period of time as required by the Term Loan Agreement.

Section 5.06 Company Credit Facilities.

(a) Each of NEP and the Company shall use its reasonable best efforts to take, and cause the Company Loan Parties to take, all actions and to do, and to cause to be done, all things necessary, proper, or advisable to cause the Company Loan Parties to arrange, consummate, obtain, and complete, at or prior to the Closing, the Tranche A Facility Draw, the Tranche B Facility Draw, and the Tranche C Facility on the terms and conditions described in the Term Loan Agreement, including (i) using reasonable best efforts to maintain in effect the Term Loan Agreement, (ii) timely negotiating and entering into the Credit Support and any additional definitive agreements with respect to the Closing Date Debt Financing or Tranche C Facility on terms and conditions contemplated by the Term Loan Agreement (any such agreements, collectively with the Term Loan Agreement, the “Debt Agreements”), (iii) satisfying or causing to be waived on a timely basis all conditions in the Debt Agreements to funding the Closing Date Debt Financing at the Closing that are applicable to the Company Loan Parties and that are within its control, (iv) in the event of a failure to fund that prevents, impedes, or delays the Closing, enforcing the Company Loan Parties’ rights under the Debt Agreements, and (v) if the conditions set forth in Section 2.05 and Section 2.06 have been satisfied or waived (other than those conditions that by their nature are to be satisfied or waived at the Closing, but subject to the satisfaction and/or waiver of such conditions at the Closing), consummating the Closing Date Debt Financing at the Closing.

(b) If all or any portion of the Closing Date Debt Financing becomes unavailable on the terms (which terms include any applicable “flex” rights) and conditions contemplated in the Debt Agreements, NEP and the Company shall cause the Company Loan Parties to use reasonable best efforts to obtain, as promptly as practicable following the occurrence of such event, (i) alternative financing for any such portion from the same or alternative sources on terms and conditions reasonably acceptable to the Class B Purchaser that are not materially less favorable in the aggregate to the Company and the Company Loan Parties than the financing contemplated by the Debt Agreements, as applicable, and (ii) one or more new credit agreements or other financing facilities with respect to such alternative financing (an “Alternative Financing Agreement”, and collectively with any Debt Agreements, the “NEP

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Financing Agreements”). The Company shall promptly provide NEP and the Purchasers with a copy of any Alternative Financing Agreement and any related fee letter in connection therewith. If any Alternative Financing Agreement is obtained in accordance with this Section 5.06(b), (A) any reference in this Agreement to the “Closing Date Debt Financing” shall mean the financing contemplated by any such Alternative Financing Agreement, and (B) any reference in this Agreement to the “lenders” of Closing Date Debt Financing shall be deemed to include the lender parties to any such Alternative Financing Agreement.

(c) The Company shall, and shall cause the Company Loan Parties to, (i) keep each of the Purchasers and NEP informed on a reasonably current basis in reasonable detail of all material activity concerning the Closing Date Debt Financing (including, if applicable, the status of its efforts to obtain an Alternative Financing Agreement pursuant to Section 5.06(b)) and (ii) promptly provide each of the Purchasers and NEP with copies of all executed amendments, modifications, or replacements of any Debt Agreement, all Debt Agreements entered into after the date hereof, and such other information and documentation available to the Company Loan Parties as shall be reasonably requested by each of the Purchasers, NEP, or the Company for purposes of monitoring the progress of the financing activities. Without limiting the generality of the foregoing, prior to the Closing, each Company Loan Party shall promptly notify each of the Purchasers, NEP, and the Company (A) of any breach or default (or any event or circumstance that could reasonably be expected to give rise to any breach or default) by any party to the Debt Agreements of which such Company Loan Party becomes aware which could reasonably be expected to affect the availability or quantum of the Closing Date Debt Financing at the Closing, (B) of the receipt by such Company Loan Party of any written notice or other written communication from any agent or lender under a Debt Agreement with respect to any breach (or threatened breach) or default (or any event or circumstance that could reasonably be expected to give rise to any breach or default), or any termination or repudiation, in each case by any party to a Debt Agreement prior to the Closing, and (C) if for any reason such Company Loan Party at any time believes it will not be able to obtain all or any portion of the Closing Date Debt Financing to be obtained by such Company Loan Party on the terms, in the manner, or from the sources contemplated by the Term Loan Agreement or any Debt Agreements related to the Closing Date Debt Financing.

Section 5.07 Meade Purchase and Sale Agreement.

(a) Neither the Company nor any of its Subsidiaries will (i) terminate the Meade Purchase and Sale Agreement without the prior written consent of NEP and the Purchasers, unless at the time of such termination, the Company or the Class A Purchaser has the right to terminate this Agreement pursuant to Section 7.01, (ii) modify, amend, or waive (whether through action or inaction, including the waiver of any conditions or the waiver of any right to terminate the Meade Purchase and Sale Agreement (including pursuant to Section 6.6 of the Meade Purchase and Sale Agreement)) in any material respect, or provide any consent under, any provision of the Meade Purchase and Sale Agreement that is material to (A) the rights of the Company or the Class A Purchaser or (B) the rights of the Class B Purchaser, in its capacity as purchaser of the Class B Purchased Units, or (iii) fail to deliver payment of the Operator Settlement Amount (as defined in the Meade Purchase and Sale Agreement) on behalf of Meade Pipeline to the Operator at the closing of the Company’s acquisition of the Acquired Assets pursuant to the Meade Purchase and Sale Agreement in accordance with the terms and conditions

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of the Meade Purchase and Sale Agreement and the Waiver, Release and Settlement Agreement, in each case, without the prior written consent of the Class B Purchaser (which consent may not be unreasonably withheld, conditioned, or delayed).

(b) The Class A Purchaser (i) shall be solely responsible for payment of any amounts payable by Meade Borrower to the Meade Sellers pursuant to Section 2.3(d)(ii) of the Meade Purchase and Sale Agreement, (ii) shall be exclusively entitled to receive payments from the Meade Sellers to Meade Borrower pursuant to Section 2.3(d)(i) of the Meade Purchase and Sale Agreement, and (iii) shall be exclusively entitled to receive any funds received by Meade Borrower from (A) the Adjustment Escrow Account (as such term is defined in the Meade Purchase and Sale Agreement) pursuant to Section 2.3(d)(i) of the Meade Purchase and Sale Agreement, (B) the Indemnity Escrow Account (as such term is defined in the Meade Purchase and Sale Agreement), pursuant to Section 2.5(a)(ii) of the Meade Purchase and Sale Agreement, and (C) the Transfer Tax Account (as such term is defined in the Meade Purchase and Sale Agreement), pursuant to Section 2.5(a)(iii) of the Meade Purchase and Sale Agreement. In the event that the Company receives any payments from the Meade Sellers pursuant to Sections 2.3(d)(i), 2.5(a)(ii), and 2.5(a)(iii) of the Meade Purchase and Sale Agreement, the Company shall promptly pay over all such amounts to the Class A Purchaser.

(c) The Company shall promptly provide the Purchasers with a copy of any notice given or received under the Meade Purchase and Sale Agreement and shall promptly provide notice when the Company becomes aware of any breach of the Meade Purchase and Sale Agreement.

(d) Without limiting any of the foregoing, any action or determination that would require the consent of Class B Purchaser with respect to the Meade Purchase and Sale Agreement or otherwise under Section 6.03 or Section 6.04 of the A&R LLC Agreement if such action or determination occurred following the Closing shall not be taken without first obtaining the consent of the Class B Purchaser.

Section 5.08 Class B Purchaser Financing.

(a) The Class B Purchaser shall use its reasonable best efforts to take, and cause to be taken, all actions and to do, and to cause to be done, all things necessary, proper, or advisable to arrange, consummate, and obtain the Equity Financing on the terms and conditions described in the Equity Commitment Letter on or prior to the Closing Date, including (i) using reasonable best efforts to maintain in effect the Equity Commitment Letter, (ii) satisfying or causing to be waived on a timely basis all conditions to funding the Equity Financing at the Closing that are applicable to the Class B Purchaser in the Equity Commitment Letter and that are within its control, (iii) using reasonable best efforts to consummate the Equity Financing at or prior to the Closing, (iv) enforcing its rights under the Equity Commitment Letter, and (v) if the conditions set forth in Section 2.03 and Section 2.04 have been satisfied or waived (other than those conditions that by their nature are to be satisfied or waived at the Closing, but subject to the satisfaction and/or waiver of such conditions at the Closing), consummating the Equity Financing at the Closing. The Class B Purchaser shall not amend, amend and restate, replace, supplement, or otherwise modify or waive any of its rights under the

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Equity Commitment Letter or substitute other debt or equity financing for all or any portion of the Equity Financing from the same or alternative financing sources.

(b) The Class B Purchaser shall keep the Company and NEP informed on a reasonably current basis in reasonable detail of all material activity concerning the Equity Financing. Without limiting the generality of the foregoing, prior to the Closing, the Class B Purchaser shall promptly notify the Company and NEP (i) of the receipt by the Class B Purchaser of any written notice or other written communication from the Sponsor with respect to any breach (or threatened breach) or default (or any event or circumstance that could reasonably be expected to give rise to any breach or default), or any termination or repudiation of the Equity Commitment Letter, and (ii) if for any reason the Class B Purchaser at any time believes it will not be able to obtain all or any portion of the Equity Financing to be obtained by the Class B Purchaser on the terms, in the manner, or from the sources contemplated by the Equity Commitment Letter.

(c) If requested by the Class B Purchaser or any of its Affiliates, following the Closing and following (or in contemplation of) the exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option, the Company and NEP will provide the following cooperation in connection with the Class B Purchaser entering into any Permitted Loan: (i) providing such cooperation and assistance as the Class B Purchaser or Affiliate thereof may reasonably request (including, without limitation, entering into one or more “issuer agreements” substantially similar to the existing issuer agreements between the Company and certain Affiliates of the Class B Purchaser, but with such additions or modifications as NEP and the Class B Purchaser or Affiliate thereof may mutually agree upon, and permitting (x) the Class B Purchaser to transfer, assign, and contribute to its Affiliates any Issued NEP Non-Voting Units or the right to receive any such Issued NEP Non-Voting Units and (y) the Class B Purchaser to assign to its Affiliates its rights under the Registration Rights Agreement in accordance with the terms thereof), and (ii) using commercially reasonable efforts to enable the deposit of the pledged Issued NEP Non-Voting Units in book entry form on the books of The Depository Trust Company at the time of such Permitted Loan or otherwise when permissible.

Section 5.09 Change of Control. In the event that a Change of Control of NEP occurs or Persons enter into definitive agreements for a transaction that upon consummation would constitute a Change of Control of NEP prior to the Closing, each Purchaser shall have the right for thirty (30) days thereafter to elect by written notice to the Company to be released from its obligation to consummate its purchase of Purchased Units, and upon delivery of such notice such Purchaser shall be relieved from its obligations hereunder.

ARTICLE VI

INDEMNIFICATION

Section 6.01 Indemnification by the Company and NEP.

(a) From and after consummation of the Closing, (i) each of the Company and NEP agrees, jointly and not severally, to indemnify the Class B Purchaser and its Affiliates, partners, members, stockholders, and Representatives, and any Affiliate, member, partner, stockholder, or Representative of any of the foregoing (collectively, the “Class B

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Purchaser Related Parties”), (ii) NEP agrees to indemnify the Class A Purchaser and its Affiliates, partners, members, stockholders, and Representatives, and any Affiliate, member, partner, stockholder, or Representative of any of the foregoing (collectively, the “Class A Purchaser Related Parties” and, together with the Class B Purchaser Related Parties, the “Purchaser Related Parties”), and (iii) solely with respect to clause (C) below, NEP agrees to indemnify the Company and the Purchaser Related Parties, in each case, from costs, losses, liabilities, damages, or expenses of any kind or nature whatsoever, and to hold each of the applicable Persons harmless against any and all actions, suits, proceedings (including any investigations, litigation, or inquiries), demands, and causes of action, and, in connection therewith, promptly upon demand, to pay or reimburse each such applicable Person for all costs, losses, liabilities, damages, or expenses of any kind or nature whatsoever (including the reasonable fees and disbursements of counsel and all other reasonable expenses incurred in connection with investigating, defending, or preparing to defend any such matter that may be incurred by them or asserted against or involve any of them), whether or not involving a Third-Party Claim, as a result of, arising out of, or in any way related to (A) (1) with respect to NEP’s obligation to indemnify, the failure of any of the representations or warranties contained herein with respect to NEP to be true and correct in all material respects or (2) with respect to the Company’s obligation to indemnify, the failure of any of the representations or warranties contained herein with respect to the Company or any Company Subsidiary to be true and correct in all material respects, in each case, other than those representations and warranties contained in Section 3.01, Section 3.02, Section 3.03, Section 3.04, Section 3.05, Section 3.11, Section 3.13, or Section 3.14 or other representations and warranties that are qualified by materiality or Material Adverse Effect, which, in each case, shall be true and correct in all respects when made and as of the Closing Date (except for any representations and warranties made as of a specific date, which shall be required to be true and correct as of such date only), (B) (1) with respect to NEP’s obligation to indemnify, the breach of any covenant of NEP contained herein or (2) with respect to the Company’s obligation to indemnify, the breach of any covenant of the Company or a Subsidiary of the Company contained herein, or (C) any actions, suits, claims, investigations, orders, injunctions, or proceedings by or on behalf of the unitholders of NEP in connection with the purchase of the Acquired Assets, the Meade Purchase and Sale Agreement, or the transactions contemplated by this Agreement; provided that, in the case of clause (A), such claim for indemnification is made prior to the expiration of the survival period of such representation or warranty; provided, further, that, for purposes of determining when an indemnification claim has been made, the date upon which a Purchaser Related Party or Company, as applicable, shall have given notice (stating in reasonable detail the basis of the claim for indemnification) to the Company or NEP shall constitute the date upon which such claim has been made; and provided, further, that the aggregate liability of the Company and NEP to the Class A Purchaser and the Class B Purchaser pursuant to clauses (A) and (B) of this Section 6.01 shall not be greater in amount than such Purchaser’s Class A Purchase Price or Class B Purchase Price, as applicable, and the aggregate liability of the Company and NEP to the Class B Purchaser pursuant to clauses (A) and (B) of this Section 6.01 shall not exceed the aggregate of the Class B Purchase Price. The indemnification obligations pursuant to this Section 6.01 shall be limited as follows: (1) the Company shall be obligated to provide indemnification solely for (y) with respect to Section 6.01(A), breaches of, and inaccuracies with respect to, those representations and warranties relating to the Company and the Company Subsidiaries and (z) with respect to Section 6.01(B), the breach by the Company and the Company Subsidiaries; and (2) NEP shall be obligated to

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provide indemnification solely for (y) with respect to Section 6.01(A), breaches of, and inaccuracies with respect to, those representations and warranties relating to NEP and (z) with respect to Section 6.01(B), the breach by NEP. No Purchaser Related Party shall be entitled to recover special, indirect, exemplary, lost profits, speculative, or punitive damages under clauses (i) and (ii) of this Section 6.01; provided, however, that such limitation shall not prevent any Purchaser Related Party from recovering under this Section 6.01 for any such damages to the extent that such damages are in the form of diminution in value or are payable to a third party in connection with any Third-Party Claims.

(b) Each of the Company and NEP agrees that it will indemnify and hold harmless the Purchasers from and against any and all claims, demands, or liabilities for broker’s, finder’s, placement, or other similar fees or commissions incurred by the Company or NEP or alleged to have been incurred by the Company or NEP in connection with the sale of the Purchased Units or the consummation of the transactions contemplated by this Agreement.

Section 6.02 Indemnification by the Purchasers.

(a) From and after consummation of the Closing, each Purchaser agrees, severally and not jointly, to indemnify the Company and NEP and their respective Affiliates, partners, members, stockholders, and Representatives, and any Affiliate, member, partner, stockholder, or Representative of any of the foregoing (collectively, “NEP Related Parties”) from, costs, losses, liabilities, damages, or expenses of any kind or nature whatsoever, and to hold each of them harmless against, any and all actions, suits, proceedings (including any investigations, litigation, or inquiries), demands, and causes of action, and, in connection therewith, promptly upon demand, to pay or reimburse each of them for all costs, losses, liabilities, damages, or expenses of any kind or nature whatsoever (including the reasonable fees and disbursements of counsel and all other reasonable expenses incurred in connection with investigating, defending, or preparing to defend any such matter that may be incurred by them or asserted against or involve any of them), whether or not involving a Third-Party Claim, as a result of, arising out of, or in any way related to (i) the failure of any of the representations or warranties made by such Purchaser contained herein to be true and correct in all material respects as of the date made (except to the extent any representation or warranty includes the word “material,” Material Adverse Effect or words of similar import, with respect to which such representation or warranty, or applicable portions thereof, must have been true and correct) or (ii) the breach of any of the covenants of such Purchaser contained herein; provided that, in the case of the immediately preceding clause (i), such claim for indemnification relating to a breach of any representation or warranty is made prior to the expiration of the survival period of such representation or warranty; and provided, further, that, for purposes of determining when an indemnification claim has been made, the date upon which a NEP Related Party shall have given notice (stating in reasonable detail the basis of the claim for indemnification) to such Purchaser shall constitute the date upon which such claim has been made; and provided, further, that the liability of each such Purchaser shall not be greater in amount than the sum of such Purchaser’s Class A Purchase Price or Class B Purchase Price, as applicable, plus any distributions paid to such Purchaser with respect to the Purchased Units. No NEP Related Party shall be entitled to recover special, indirect, exemplary, lost profits, speculative, or punitive damages under this Section 6.02; provided, however, that such limitation shall not prevent any NEP Related Party from recovering under this Section 6.02 for any such damages to the extent that such damages

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are in the form of diminution in value of the Purchased Units (it being understood and agreed that any change in the market price of the Conversion Units shall not in and of itself constitute diminution in value damages) or are payable to a third party in connection with any Third-Party Claims.

(b) Each Purchaser agrees that it will indemnify and hold harmless each of the Company and NEP from and against any and all claims, demands, or liabilities for broker’s, finder’s, placement, or other similar fees or commissions incurred by such Purchaser or alleged to have been incurred by such Purchaser in connection with the purchase of the Purchased Units or the consummation of the transactions contemplated by this Agreement.

Section 6.03 Indemnification Procedure.

(a) A claim for indemnification for any matter not involving a Third-Party Claim may be asserted by notice to the party from whom indemnification is sought; provided, however, that failure to so notify the Indemnifying Party shall not preclude the Indemnified Party from any indemnification which it may claim in accordance with this Article VI, except to the extent the Indemnifying Party is prejudiced as a result of such failure, and except as otherwise provided in Section 6.01 and Section 6.02.

(b) Promptly after any NEP Related Party, Purchaser Related Party, or the Company, as applicable (hereinafter, the “Indemnified Party”), has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit, or proceeding by a third Person which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement (each a “Third-Party Claim”), the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such Third-Party Claim, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such Third-Party Claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel, who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly, and in no event later than ten (10) days, notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records, and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has, within ten (10) Business Days of when the Indemnified Party provides written notice of a Third-Party Claim,

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failed (1) to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (2) to notify the Indemnified Party of such assumption or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there are reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the interests of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party.

Section 6.04 Tax Characterization. All indemnification payments under this Article VI and any payment (or offset) to the Class B Purchase Price pursuant to Section 5.04 shall be treated as adjustments to the applicable Purchaser’s Class A Purchase Price or Class B Purchase Price, as applicable, for all Tax purposes, except as otherwise required by applicable Law.

ARTICLE VII

TERMINATION

Section 7.01 Termination. This Agreement may be terminated at any time prior to the Closing:

(a) by mutual written consent of the Company, NEP, and each of the Purchasers;

(b) by written notice from the Company, NEP, or any Purchaser, if any Governmental Authority with lawful jurisdiction shall have issued a final order, decree, or ruling, or taken any other final action restraining, enjoining, or otherwise prohibiting the transactions contemplated by the Transaction Documents, and such order, decree, ruling, or other action is or shall have become final and non-appealable; or

(c) by written notice from a Purchaser, if the Closing does not occur by 11:59 p.m., Eastern Time, on the Drop-Dead Date; provided, however, that (i) the Class B Purchaser may not terminate this Agreement pursuant to this Section 7.01(c) if such party is, at the time of providing such written notice, in breach of any of its obligations under this Agreement and (ii) the Class A Purchaser may not terminate this Agreement pursuant to this Section 7.01(c) if such party, the Company, or NEP is, at the time of providing such written notice, in breach of any of its obligations under this Agreement.

Section 7.02 Certain Effects of Termination. In the event that this Agreement is terminated pursuant to Section 7.01:

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(a) except as set forth in Section 7.02(b) and (c), this Agreement shall become null and void and have no further force or effect, but the parties shall not be released from any liability arising from or in connection with any breach hereof occurring prior to such termination;

(b) regardless of any purported termination of this Agreement, this Section 7.02 and the provisions of Article VIII shall remain operative and in full force and effect as between the Company and NEP, on the one hand, and the Purchasers, on the other hand, unless the Company, NEP, and the Class B Purchaser execute a writing that expressly (with specific references to the applicable Articles, Sections, or subsections of this Agreement) terminates such rights and obligations as among the Company, NEP, and the Purchasers; and

(c) the confidentiality obligations set forth in Section 8.06(a) shall remain in full force and effect for the period specified in Section 8.06(a)(iv).

ARTICLE VIII

MISCELLANEOUS

Section 8.01 Expenses. All costs and expenses, including fees and disbursements of counsel, financial advisors, and accountants, incurred in connection with the Transaction Documents and the transactions contemplated thereby, shall be paid by the party incurring such costs and expenses

Section 8.02 Interpretation. Article, Section, Schedule, and Exhibit references in this Agreement are references to the corresponding Article, Section, Schedule, or Exhibit to this Agreement, unless otherwise specified. All Exhibits and Schedules to this Agreement are hereby incorporated and made a part hereof as if set forth in full herein and are an integral part of this Agreement. All references to instruments, documents, Contracts, and agreements are references to such instruments, documents, Contracts, and agreements as the same may be amended, supplemented, and otherwise modified from time to time, unless otherwise specified. The word “including” shall mean “including but not limited to” and shall not be construed to limit any general statement that it follows to the specific or similar items or matters immediately following it. Whenever the Company or NEP, respectively, has an obligation under the Transaction Documents, the expense of complying with that obligation shall be an expense of the Company or NEP, as applicable, unless otherwise specified. Any reference in this Agreement to “$” shall mean U.S. dollars. Whenever any determination, consent, or approval is to be made or given by a Purchaser, such action shall be in such Purchaser’s sole discretion, unless otherwise specified in this Agreement. If any provision in the Transaction Documents is held to be illegal, invalid, not binding, or unenforceable, (a) such provision shall be fully severable and the Transaction Documents shall be construed and enforced as if such illegal, invalid, not binding, or unenforceable provision had never constituted a part of the Transaction Documents, and the remaining provisions shall remain in full force and effect, and (b) the parties hereto shall negotiate in good faith to modify the Transaction Documents so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. When calculating the period of time before which, within which, or following which any act is to be done or step taken pursuant to the Transaction Documents, the date that is the reference date

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in calculating such period shall be excluded. If the last day of such period is not a Business Day, the period in question shall end on the next succeeding Business Day. Any words imparting the singular number only shall include the plural and vice versa. The words such as “herein,” “hereinafter,” “hereof,” and “hereunder” refer to this Agreement as a whole and not merely to a subdivision in which such words appear unless the context otherwise requires. The provision of a Table of Contents, the division of this Agreement into Articles, Sections, and other subdivisions, and the insertion of headings are for convenience of reference only and shall not affect or be utilized in construing or interpreting this Agreement.

Section 8.03 Survival of Provisions. The representations and warranties set forth in Section 3.01, Section 3.02, Section 3.03, Section 3.04, Section 3.05, Section 3.11, Section 3.13, Section 3.14, Section 4.01, Section 4.02, Section 4.04, Section 4.05(a), Section 4.05(b), and Section 4.05(e) hereunder shall survive the execution and delivery of this Agreement indefinitely, and the other representations and warranties set forth herein shall survive for a period of twelve (12) months following the Closing Date, as applicable, regardless of any investigation made by or on behalf of the Company, NEP, or the Purchasers. The covenants made in this Agreement or any other Transaction Document shall survive the Closing and remain operative and in full force and effect regardless of acceptance of any of the Purchased Units and payment therefor and repayment, exchange, or repurchase thereof.

Section 8.04 No Waiver: Modifications in Writing.

(a) Delay. No failure or delay on the part of any party in exercising any right, power, or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power, or remedy preclude any other or further exercise thereof or the exercise of any other right, power, or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.

(b) Specific Waiver. Except as otherwise provided herein, no amendment, waiver, consent, modification, or termination of any provision of any Transaction Document (except in the case of the A&R LLC Agreement or the NEP LPA Amendment, for amendments adopted pursuant to the terms thereof) shall be effective unless signed by each of the parties thereto affected by such amendment, waiver, consent, modification, or termination. Any amendment, supplement, or modification of or to any provision of any Transaction Document, any waiver of any provision of any Transaction Document, and any consent to any departure by the Company and NEP from the terms of any provision of any Transaction Document shall be effective only in the specific instance and for the specific purpose for which made or given. Except where notice is specifically required by this Agreement, no notice to or demand on NEP or the Company in any case shall entitle NEP or the Company to any other or further notice or demand in similar or other circumstances. Any investigation by or on behalf of any party shall not be deemed to constitute a waiver by the party taking such action of compliance with any representation, warranty, covenant, or agreement contained herein.

Section 8.05 Binding Effect. This Agreement shall be binding upon the Company, NEP, each of the Purchasers, and their respective successors and permitted assigns. Except as expressly provided in this Agreement, this Agreement shall not be construed so as to

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confer any right or benefit upon any Person other than the parties to this Agreement and their respective successors and permitted assigns.

Section 8.06 Non-Disclosure.

(a) Treatment of Confidential Information.

(i) Each Receiving Party agrees that the Confidential Information of the Disclosing Party will be used solely by such Receiving Party and its Representatives and Affiliates for the purpose of completing the transactions contemplated by this Agreement and will not be used, directly or indirectly, in any other way or for any other purpose. Each Receiving Party further agrees that it and its Representatives and Affiliates shall keep the Confidential Information of the Disclosing Party confidential in accordance with the terms hereof and shall not disclose any of such Confidential Information to any Person, except to the extent that such disclosure (A) has been specifically consented to in writing by the Disclosing Party, (B) subject to compliance with Section 8.06(a)(ii) below, is required by Law or pursuant to an audit or examination by any regulatory, self-regulatory or supervisory organization, or (C) is made to the Receiving Party’s or its Affiliates’ Representatives in each case (1) who need to know such Confidential Information for the purpose of completing the transactions contemplated hereby, (2) who have been advised of this Section 8.06(a) and the confidential nature of the Disclosing Party’s Confidential Information, and (3) who are subject to a legally binding undertaking of confidentiality containing confidentiality and use terms not less restrictive than those contained in this Section 8.06(a) or, in the case of legal advisers, are bound by a professional duty of confidentiality. In any event, the Disclosing Party shall, at all times, be and remain liable for any act or omission of its Representatives or any Person to whom the Receiving Party or its Affiliates or Representatives disclose any Confidential Information that would constitute a violation of the confidentiality and use obligations hereunder. Without diminishing any of a Receiving Party’s obligations hereunder, each Receiving Party shall agree to use at least the same degree of care to protect Confidential Information of the Disclosing Party as it employs to protect its own information of like importance. Each Receiving Party further agrees that the Confidential Information disclosed to it that is in written form that is copied or reproduced shall be and remain subject to the terms of this Section 8.06(a). Each Receiving Party acknowledges and agrees that the Disclosing Party shall remain the exclusive owner of the Confidential Information disclosed by such Disclosing Party, including any and all intellectual property rights therein. Each Receiving Party agrees not to, and not to attempt to (and to not permit its Representatives to), reverse engineer or decompile any intellectual property provided to such Receiving Party or its Representatives by the Disclosing Party or its Representatives unless it has obtained the Disclosing Party’s prior express written consent.

(ii) In the event that a Receiving Party is requested or required by Law or pursuant to an audit or examination by any regulatory, self-

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regulatory or supervisory organization to disclose any Confidential Information of the Disclosing Party or take any other action prohibited by this Section 8.06(a), it will provide the Disclosing Party with prompt written notice of the existence, terms, and circumstances of such request or requirement, to the extent legally permitted and practicable, so that the Disclosing Party may seek an appropriate protective order (at the Disclosing Party’s sole cost and expense) or other appropriate remedy or, in the Disclosing Party’s sole discretion, waive compliance with the terms of this Section 8.06(a) (and if the Disclosing Party seeks such an order, the Receiving Party will provide such commercially reasonable cooperation as the Disclosing Party shall request). In the event that no such protective order or other remedy is obtained or that the Disclosing Party waives compliance with the terms of this Section 8.06(a) and the Receiving Party or any of its Affiliates or Representatives is nonetheless compelled by Law to disclose such Confidential Information, the Receiving Party or its Affiliates or Representatives, as the case may be, may disclose only that portion of the Confidential Information that its counsel advises is legally required to be disclosed and it will give the Disclosing Party written notice (unless prohibited by Law) of the Confidential Information to be disclosed as far in advance as practicable, and the Receiving Party and its Affiliates and Representatives will exercise all commercially reasonable efforts to obtain reliable assurance that confidential treatment will be afforded to that portion of the Confidential Information that is being disclosed. Notwithstanding the foregoing, no notice, consultation, or other compliance with this Section 8.06(a)(ii) shall be required if a Receiving Party or its Affiliates or Representatives are requested or required to disclose Confidential Information pursuant to a broad or routine audit, examination, or request for information by any legal, judicial, governmental, administrative, or any regulatory, self-regulatory or supervisory organization that is not specific to the Confidential Information provided hereunder, including by the Commission, the Financial Industry Regulatory Authority, or the NYSE.

(iii) All Confidential Information shall be and shall remain the property of the Disclosing Party. In the event this Agreement is terminated pursuant to the terms of Article VII, within twenty (20) business days after being so requested in writing by a Disclosing Party, the Receiving Party shall, and shall instruct its Affiliates and Representatives to, return or destroy (at its option) all Confidential Information of such Disclosing Party; provided that the foregoing shall not apply to Confidential Information (a) necessary for such Receiving Party to retain to comply with any obligations or best practices under applicable Laws or existing internal compliance and document retention policies and procedures and professional standards and (b) that cannot reasonably be destroyed or returned (such as oral communications reflecting the Confidential Information, firm electronic back-up server tapes, or any similar such automated retention systems). Promptly upon written request by the Disclosing Party, the Receiving Party shall confirm in writing to the Disclosing Party that the requirements of the preceding sentence have been satisfied in full.

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(iv) Each Receiving Party’s obligations under this Section 8.06(a) shall terminate on the date that is the earlier of: (i) two (2) years from the date hereof; provided, however, that (a) Confidential Information that constitutes trade secrets of a Disclosing Party shall be subject to the terms of this Section 8.06 for as long as such Confidential Information remains a trade secret under applicable law, and (b) so long as a Receiving Party or its Affiliates or Representatives retain Confidential Information, such Confidential Information shall be subject to the terms of this Section 8.06(a).

(b) Other than in filings made by NEP with the Commission or the NYSE, the Company, NEP, and any of their respective Representatives may disclose the identity of, or any other information concerning, the Purchasers or any of their respective Affiliates only after providing the Purchasers a reasonable opportunity to review and comment on such disclosure (with such comments being incorporated or reflected, to the extent reasonable, in any such disclosure); provided, however, that nothing in this Section 8.06 shall delay any required filing or other disclosure with the NYSE or any Governmental Authority or otherwise hinder either the Company’s or NEP’s or their respective Representatives’ ability to timely comply with all Laws or rules and regulations of the NYSE or other Governmental Authority. Notwithstanding anything to the contrary in this Section 8.06, each of the Company and NEP may disclose in any manner it determines appropriate the terms and conditions of the transactions contemplated hereby and the Purchased Units, Issued NEP Non-Voting Units, and Conversion Units.

(c) Notwithstanding anything to the contrary in this Section 8.06, each party hereto agrees that each other party hereto may (i) publicize its ownership in the Company, as well as the identity of the Company and the size of the investment and its pricing terms with respect to the Membership Interests, on its internet site or in marketing materials, press releases, published “tombstone” announcements, or any other print or electronic medium and (ii) display the Company’s or NEP’s corporate logo in conjunction with any such reference; provided, however, that a Purchaser may take the actions described in this Section 8.06(c) only after providing the Company and NEP with a reasonable opportunity to review and comment on such disclosure; provided that such review and comment shall not be required with respect to communications with limited partners of the funds affiliated with the Purchasers (with such comments being incorporated or reflected, to the extent reasonable, in any such communication).

Section 8.07 Communications. All notices and demands provided for hereunder shall be in writing and shall be given by registered or certified mail, return receipt requested, telecopy, air courier guaranteeing overnight delivery, e-mail or personal delivery to the following addresses:

(a) If to the Purchasers, to the addresses set forth on Schedule A.

(b) If to the Company, to:

NextEra Energy Partners Pipelines, LLC

c/o NextEra Energy Partners, LP

700 Universe Boulevard

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Juno Beach, Florida 33408

Attention: Treasurer and Daniel Lotano

E-mail: Daniel.Lotano@nexteraenergy.com

and

NextEra Energy Partners Pipelines, LLC

c/o NextEra Energy Partners, LP

700 Universe Boulevard

Juno Beach, Florida 33408

Attention: Jessica Aldridge

E-mail: Jessica.Aldridge@nexteraenergy.com

with a copy to:

Skadden, Arps, Slate, Meagher & Flom LLP

920 North King Street

Wilmington, Delaware 19801

Attention: Allison L. Land

E-mail: Allison.Land@skadden.com

NextEra Energy Partners, LP

700 Universe Boulevard

Juno Beach, Florida 33408

Attention: Treasurer and Daniel Lotano

E-mail: Daniel.Lotano@nexteraenergy.com

and

NextEra Energy Partners, LP

700 Universe Boulevard

Juno Beach, Florida 33408

Attention: Jessica Aldridge

E-mail: Jessica.Aldridge@nexteraenergy.com

with a copy to:

Skadden, Arps, Slate, Meagher & Flom LLP

920 North King Street

Wilmington, Delaware 19801

Attention: Allison L. Land

E-mail: Allison.Land@skadden.com

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or to such other address as the Company, NEP, or the Purchasers may designate in writing. All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; upon actual receipt if sent by certified or registered mail, return receipt requested, or regular mail, if mailed; upon actual receipt of the facsimile, if sent via facsimile; when sent, if sent by electronic mail prior to 5:00 p.m. Eastern time on a Business Day, or on the next succeeding Business Day, if not; and upon actual receipt when delivered to an air courier guaranteeing overnight delivery.

Section 8.08 Removal of Legend. In connection with a sale of Conversion Units by the Class B Purchaser in reliance on Rule 144 promulgated under the Securities Act, the Class B Purchaser or its broker shall deliver to NEP a broker representation letter providing to NEP any information NEP deems necessary to determine that the sale of such Conversion Units is made in compliance with Rule 144 promulgated under the Securities Act, including, as may be appropriate, a certification that the Purchaser is not an Affiliate of NEP (as defined in Rule 144 promulgated under the Securities Act) and a certification as to the length of time such units have been held (taking into account any applicable tacking periods under Rule 144). Upon receipt of such representation letter, NEP shall promptly remove the notation of a restrictive legend in such Purchaser’s book-entry account maintained by NEP, including the legend referred to in Section 4.05, and NEP shall bear all costs associated with the removal of such legend in NEP’s books. At such time as the Conversion Units have been sold pursuant to an effective registration statement under the Securities Act or have been held by any Purchaser for more than one (1) year where such Purchaser is not, and has not been in the preceding three (3) months, an Affiliate of NEP (as defined in Rule 144 promulgated under the Securities Act), if the book-entry account of such Purchaser still bears the notation of the restrictive legend referred to in Section 4.05, NEP agrees, upon request of the Purchaser or its permitted assignee, to take all steps necessary to promptly effect the removal of the legend described in Section 4.05, and NEP shall bear all costs associated with the removal of such legend in the books of NEP regardless of whether the request is made in connection with a sale or otherwise, so long as such Purchaser or its permitted assignee provides to NEP any information NEP deems reasonably necessary to determine that the legend is no longer required under the Securities Act or applicable state Laws, including (if there is no such registration statement) a certification that the holder is not an Affiliate of NEP (as defined in Rule 144 promulgated under the Securities Act), a covenant to inform the Company or NEP if it should thereafter become an affiliate (as defined in Rule 144 promulgated under the Securities Act) and to consent to the notation of an appropriate restriction, and a certification as to the length of time such units have been held. NEP shall cooperate with each Purchaser to effect the removal of the legend referred to in Section 4.05 at any time such legend is no longer appropriate.

Section 8.09 Entire Agreement. This Agreement, the other Transaction Documents, and the other agreements and documents referred to herein are 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 hereto in respect of the subject matter contained herein and therein. There are no restrictions, promises, warranties, or undertakings, other than those set forth or referred to in this Agreement or the other Transaction Documents with respect to the rights granted by the Company or NEP or any of their respective Affiliates or the Purchasers or any of their respective Affiliates. This Agreement, the other Transaction Documents, and the other agreements and documents referred to herein or therein

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supersede all prior agreements and understandings among the parties with respect to such subject matter.

Section 8.10 Governing Law; Submission to Jurisdiction. This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of, or relate to this Agreement or the negotiation, execution, or performance of this Agreement (including any claim or cause of action based upon, arising out of, or related to any representation or warranty made in or in connection with this Agreement), will be construed in accordance with and governed by the Laws of the State of Delaware without regard to principles of conflicts of laws. Any action against any party relating to the foregoing shall be brought in any federal or state court of competent jurisdiction located within the State of Delaware, and the parties hereto hereby irrevocably submit to the non-exclusive jurisdiction of any federal or state court located within the State of Delaware over any such action. The parties hereby irrevocably waive, to the fullest extent permitted by applicable Law, any objection which they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. Each of the parties hereto agrees that a judgment in any such dispute may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law.

Section 8.11 Waiver of Jury Trial. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY WAIVES, AND AGREES TO CAUSE ITS AFFILIATES TO WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (a) ARISING UNDER THIS AGREEMENT OR (b) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

Section 8.12 Exclusive Remedy.

(a) Each party hereto hereby acknowledges and agrees that the rights of each party to consummate the transactions contemplated hereby are special, unique, and of extraordinary character and that, if any party violates or fails or refuses to perform any covenant or agreement made by it herein, the non-breaching party may be without an adequate remedy at law. If any party violates, fails, or refuses to perform any covenant or agreement made by such party herein, the non-breaching party subject to the terms hereof and in addition to any remedy at law for damages or other relief may (at any time prior to the valid termination of this Agreement pursuant to Article VII) institute and prosecute an action in any court of competent jurisdiction to enforce specific performance of such covenant or agreement or seek any other equitable relief.

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(b) From and after the Closing, the sole and exclusive remedy for any and all claims for damages arising under, out of, or related to this Agreement or the transactions contemplated hereby shall be the rights of indemnification set forth in Article VI only, and no Person will have any other entitlement, remedy, or recourse, whether in contract, tort, or otherwise, it being agreed that all of such other remedies, entitlements, and recourse are expressly waived and released by the parties hereto to the fullest extent permitted by Law. Notwithstanding anything in the foregoing to the contrary, nothing in this Agreement shall limit or otherwise restrict a fraud claim brought by any party hereto or the right to seek specific performance pursuant to Section 8.12(a).

Section 8.13 No Recourse Against Others.

(a) All claims, obligations, liabilities, or causes of action (whether in contract or in tort, in law or in equity, or granted by statute) that may be based upon, in respect of, arise under, out of, or by reason of, be connected with, or relate in any manner to this Agreement, or the negotiation, execution, or performance of this Agreement (including any representation or warranty made in, in connection with, or as an inducement to, this Agreement), may be made only against (and are expressly limited to) the Company and NEP, on the one hand, and the Purchasers, on the other. No Person other than the Company and NEP, on the one hand, and the Purchasers on the other, including no member, partner, stockholder, Affiliate, or Representative thereof, nor any member, partner, stockholder, Affiliate, or Representative of any of the foregoing, shall have any liability (whether in contract or in tort, in law or in equity, or granted by statute) for any claims, causes of action, obligations, or liabilities arising under, out of, in connection with, or related in any manner to this Agreement or based on, in respect of, or by reason of this Agreement or its negotiation, execution, performance, or breach; and, to the maximum extent permitted by Law, each of the Company, NEP, and the Purchasers hereby waives and releases all such liabilities, claims, causes of action, and obligations against any such third Person.

(b) Notwithstanding anything to the contrary set forth in Section 8.13(a), it is explicitly agreed that each of the Company and NEP shall be entitled to seek an injunction or other appropriate form of specific performance or equitable relief to cause the Class B Purchaser, and the Class B Purchaser, to cause, or for the Company or NEP to directly cause, in accordance with its third party beneficiary rights under the Equity Commitment Letter, the Equity Financing to be funded on the terms and subject to the conditions set forth in the Equity Commitment Letter and this Agreement and thereafter effect the Closing if, and only if (i) all conditions in Section 2.03 and Section 2.04(b) (other than those conditions that by their terms are to be satisfied by actions taken at the Closing, each of which shall be capable of being satisfied at the Closing, but subject to those conditions being capable of being satisfied at such time that specific performance or other equitable remedy is granted) have been satisfied at the time when the Closing would have occurred (or waived in accordance with the terms of this Agreement), (ii) the Class B Purchaser shall have failed to complete the Closing when required under Section 2.02, (iii) the Class A Purchaser shall have funded, or shall have stated in writing that it will immediately fund, the Class A Purchase Price and (iv) the Company has confirmed that, if the Equity Financing is funded, then the Company stands ready, willing, and able to consummate the Closing.

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(c) Without limiting the foregoing, to the maximum extent permitted by Law, (i) each of the Company, NEP, and the Purchasers hereby waives and releases any and all rights, claims, demands, or causes of action that may otherwise be available at law or in equity, or granted by statute, to avoid or disregard the entity form of the other, or otherwise impose liability of the other on any third Person in respect of the transactions contemplated hereby, whether granted by statute or based on theories of equity, agency, control, instrumentality, alter ego, domination, sham, single business enterprise, piercing the veil, unfairness, undercapitalization, or otherwise; and (ii) each of the Company, NEP, and the Purchasers disclaims any reliance upon any third Person with respect to the performance of this Agreement or any representation or warranty made in, in connection with, or as an inducement to this Agreement.

Section 8.14 No Third-Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person, other than the Company, NEP, the Purchasers and, for purposes of Article VI and Section 8.13 only, any Purchaser Related Party or NEP Related Party, any right, benefit, or remedy of any nature whatsoever under or by reason of this Agreement.

Section 8.15 Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original, and all of which counterparts, taken together, shall constitute but one and the same agreement.

[Signature Page Follows]

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IN WITNESS WHEREOF, the parties hereto execute this Agreement, effective as of the date first above written.



NEXTERA ENERGY PARTNERS PIPELINES,
LLC


By:	JOHN W. KETCHUM
Name: John W. Ketchum
Title: President



NEXTERA ENERGY PARTNERS PIPELINES
HOLDINGS, LLC


By:	JOHN W. KETCHUM
Name: John W. Ketchum
Title: President



Solely with respect to the NEP Obligations



NEXTERA ENERGY PARTNERS, LP



By:	JOHN W. KETCHUM
Name: John W. Ketchum
Title: President

[Signature Page to Purchase Agreement]

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GEPIF III MEADE INVESTCO, L.P.

By:	GEPIF III InvestCo 2 GP, LLC, its general
	partner

By:	Global Energy & Power Infrastructure Fund
	III, L.P., its sole member

By:	Global Energy & Power Infrastructure GP III,
	L.P., its general partner

By:	GEPIF III (GenPar), LLC, its general partner

By:	BlackRock Infrastructure Master Carry, L.P. -
	GEPIF III Series, its sole member

By:	BlackRock Financial Management, Inc., its
	general partner

By:	RYAN SHOCKLEY
Name:	Ryan Shockley
Title:	Managing Director

[Signature Page to Purchase Agreement]

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FORM OF

AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT

NEXTERA ENERGY PARTNERS PIPELINES, LLC

A Delaware Limited Liability Company

[•], 2019

THE SECURITIES REPRESENTED BY THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR REGISTERED OR QUALIFIED UNDER ANY SECURITIES OR BLUE SKY LAWS OF ANY STATE OR JURISDICTION. THEREFORE, THE SECURITIES MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED UNTIL A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR THE APPLICABLE STATE SECURITIES OR BLUE SKY LAWS SHALL HAVE BECOME EFFECTIVE WITH REGARD TO THE PROPOSED TRANSFER OR REGISTRATION OR QUALIFICATION UNDER THE SECURITIES ACT OR BLUE SKY LAWS IS NOT REQUIRED IN CONNECTION WITH THE PROPOSED TRANSFER.

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TABLE OF CONTENTS

ARTICLE 1 DEFINITIONS

1.01	Definitions	2
1.02	Interpretation	27

ARTICLE 2 ORGANIZATION

2.01	Formation	27
2.02	Name	27
2.03	Registered Office; Registered Agent; Principal Office in the United States; Other Offices	27
2.04	Purposes	28
2.05	No State Law Partnership	28
2.06	Term	28
2.07	Title to Property	28
2.08	Foreign Qualification	28

ARTICLE 3 MEMBERS

3.01	Schedule of Members	29
3.02	Representations and Warranties of the Members	29
3.03	Voting Rights of Members	30
3.04	No Management Rights	30
3.05	Limitation on Liability of Members	30
3.06	Withdrawal of Members	31
3.07	Access to Information	31
3.08	Confidential Information	31

ARTICLE 4 MEMBERSHIP INTERESTS; CAPITAL CONTRIBUTIONS; LOANS

4.01	Classes of Membership Interests	35
4.02	Additional Membership Interests	35
4.03	Capital Contributions	35
4.04	Capital Calls	36
4.05	Remedies upon Certain Defaults; Loans	37
4.06	No Other Capital Contribution or Loan Obligations	39
4.07	Return of Contributions	39
4.08	Capital Accounts	39

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ARTICLE 5 DISTRIBUTIONS AND ALLOCATIONS

5.01	Monthly Cash Distributions	39
5.02	Distributions of Amounts Other than Available Cash	40
5.03	Distributions on Dissolution and Winding-Up	41
5.04	Allocations	42
5.05	Varying Interests	44
5.06	Amounts Withheld	44

ARTICLE 6 MANAGEMENT

6.01	Management by Managing Member	45
6.02	Standard of Care	46
6.03	Major Decisions	47
6.04	Affiliate Transactions	50
6.05	Officers	51
6.06	Business Opportunities	51
6.07	Insurance Coverage	52
6.08	Exculpation and Indemnification	53
6.09	Credit Support	54

ARTICLE 7 TRANSFERS AND TRANSFER RESTRICTIONS

7.01	General Restrictions on Transfers	55
7.02	Call Option	59
7.03	Change of Control of NEP	64
7.04	Change of Control of a Class B Member	67
7.05	Non-Voting NEP Common Units	70
7.06	Governmental Authorizations	71
7.07	Liquidity Event	72

ARTICLE 8 TAXES

8.01	Tax Returns	74
8.02	Certain Tax Matters	78
8.03	Partnership Representative	79

ARTICLE 9 BOOKS, RECORDS, REPORTS, INFORMATION UPDATES, AND BANK ACCOUNTS

9.01	Maintenance of Books	77
9.02	Determination of Internal Rate of Return	78
9.03	Reports	79


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9.04	Information Updates	79
9.05	Bank Accounts	79

ARTICLE 10 WITHDRAWAL

10.01	No Right of Voluntary Withdrawal	80
10.02	Deemed Withdrawal	80
10.03	Effect of Withdrawal	80

ARTICLE 11 DISPUTE RESOLUTION

11.01	Disputes	81
11.02	Negotiation to Resolve Disputes	81
11.03	Courts	81
11.04	Specific Performance	82

ARTICLE 12 DISSOLUTION, WINDING-UP AND TERMINATION

12.01	Dissolution	82
12.02	Winding-Up and Termination	83
12.03	Deficit Capital Accounts	85
12.04	Certificate of Cancellation	85

ARTICLE 13 GENERAL PROVISIONS

13.01	Notices	85
13.02	Entire Agreement; Superseding Effect	85
13.03	Effect of Waiver or Consent	86
13.04	Amendment or Restatement	86
13.05	Binding Effect	86
13.06	Governing Law; Severability	86
13.07	Further Assurances	87
13.08	Article 8 of the Uniform Commercial Code	87
13.09	Waiver of Certain Rights	87
13.10	Counterparts	87
13.11	Expenses	87
13.12	Appointment of Class B Member Representative	88

EXHIBITS:
A – Members
B – Financial Model for Internal Rate of Return



iii

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SCHEDULES:
1 – Excluded Parties

AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT

NEXTERA ENERGY PARTNERS PIPELINES, LLC

This AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) of NextEra Energy Partners Pipelines, LLC, a Delaware limited liability company (the “Company”), dated as of [•], 2019 (the “Effective Date”), is adopted, executed, and agreed to by GEPIF III Meade Investco, L.P., a Delaware limited partnership, in its capacities as the initial Class B Member and as the Class B Member Representative hereunder (the “GEPIF Investor”), NextEra Energy Partners Pipelines Holdings, LLC, a Delaware limited liability company (“NEP Member”), each Person that may be admitted as a Member pursuant to the terms of this Agreement, and NextEra Energy Partners, LP, a Delaware limited partnership (“NEP”), solely to the extent of its obligations pursuant to Section 4.04(b), Section 4.04(c), Section 6.09, Section 7.02, Section 7.03, Section 7.04, and Section 7.05.

RECITALS

The Company was formed by filing a Certificate of Formation of the Company (the “Delaware Certificate”) with the Office of the Secretary of State of Delaware, and by the entrance of NEP Member, as the sole initial member of the Company, into that certain Limited Liability Company Agreement of the Company, effective as of July 15, 2019 (the “Initial LLC Agreement”), governing the affairs of the Company and the conduct of its business.

Pursuant to that certain Membership Interest Purchase Agreement, dated as of September 29, 2019 (the “Purchase Agreement”), among the GEPIF Investor, NEP Member, NEP, and the Company, at the closing of the Purchase Agreement, effective as of the Effective Date (i) the Initial LLC Agreement is being amended and restated on the terms set forth in this Agreement, (ii) all of the outstanding limited liability company interests of the Company are being cancelled and, in exchange therefor, the Company is issuing and selling to NEP Member such number of Class A Units as is set forth opposite the name of NEP Member in Exhibit A hereto (such number representing one hundred percent (100%) of the Class A Units outstanding at such time) in exchange for payment of the Class A Purchase Price (as defined in the Purchase Agreement) by NEP Member to the Company, (iii) the Company is issuing and selling to the GEPIF Investor such number of Class B Units as is set forth opposite the name of the GEPIF Investor in Exhibit A hereto (such number representing one hundred percent (100%) of the Class B Units outstanding at such time), in exchange for payment of the Class B Purchase Price (as defined in the Purchase Agreement) by the GEPIF Investor to the Company; and (iv) upon such acquisition of Class B Units, the GEPIF Investor is being admitted as a member of the Company.

In connection with the foregoing, NEP Member wishes to amend and restate the Initial LLC Agreement as set forth herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the GEPIF Investor and NEP Member agree as follows:

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ARTICLE 1

DEFINITIONS

1.01 Definitions. As used in this Agreement, the following terms have the respective meanings set forth below or set forth in the Sections referred to below:

25% Condition has the meaning assigned that term in Section 5.01(b).

99% Period has the meaning assigned that term in Section 5.04(a)(i).

Acquired Interests has the meaning set forth in the Meade Purchase and Sale Agreement.

Act means the Delaware Limited Liability Company Act, as amended from time to time, and any successor statute.

Affiliate means, with respect to any Person, (a) each entity that such Person Controls; (b) each Person that Controls such Person, including, in the case of a Member, such Member’s Parent, if any; and (c) each entity that is under common Control with such Person, including, in the case of a Member, each entity that is Controlled by such Member’s Parent, if any; provided that, with respect to any Member, an Affiliate shall include (y) a limited partnership or a Person Controlled by a limited partnership if the general partner of such limited partnership is Controlled by such Member’s Parent, if any, or (z) a limited liability company or a Person controlled by a limited liability company if the managing member of the limited liability company is Controlled by such Member’s Parent, if any; provided, further, that, for purposes of this Agreement, the Company shall not be an Affiliate of any Member, nor shall any Member be deemed to be an Affiliate of any other Member, solely by virtue of their respective ownership interests in or Control of the Company or any of its subsidiaries.

Affiliate Guarantee has the meaning set forth in the Term Loan Agreement.

Affiliate Transaction means, any contract, agreement, or transaction (including any amendment, restatement, renewal, extension, modification, or termination of any existing contract, agreement, or transaction) between the Company or a subsidiary of the Company, on the one hand, and the Managing Member, an Affiliate of the Managing Member (other than the Company or any subsidiary of the Company), or their respective employees or officers, on the other hand, including (if NEP Member or its Affiliate is the Managing Member) the Tranche A Credit Support, the Tranche B Credit Support, and the Tranche C Credit Support.

Affiliated Fund means, with respect to any specified Person, any Fund that is an Affiliate of such Person or that is advised by the same investment advisor as such Person or by an Affiliate of such investment advisor or such Person, including, in the case of the GEPIF Investor, Global Energy and Power Infrastructure Fund III, L.P. and similar Funds.

Affiliated Investment Vehicle means with respect to any specified Person, any investment vehicle, entity, or managed account that is advised by the same investment advisor as such Person or an Affiliate of such Person.

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Agreed Sale Price means, with respect to any Sale Arrangement, the purchase price per Call Exercise NEP Unit, Change of Control NEP Unit, or Class B COC NEP Unit, as applicable, to be paid by a Third-Party Buyer upon the closing of such Sale Arrangement at any Call Units Sale Date, Change of Control Units Sale Date, or Class B COC Units Sale Date, respectively.

Agreement has the meaning assigned that term in the preamble.

Alternative Method has the meaning assigned that term in Section 8.03(c).

Assets means the Acquired Interests, which includes the direct or indirect ownership of one hundred percent (100%) of the issued and outstanding limited liability company interests of Meade Pipeline, which, as of the Effective Date, is a party to the Meade Construction and Ownership Agreement and holds a joint ownership interest in the Project in such percentages as specified in Exhibit A to the Meade LLC Agreement.

Assignee means any Person that acquires a Membership Interest or any portion thereof through a Disposition; provided that an Assignee shall have no right to be admitted to the Company as a Member except in accordance with Section 7.01(b). The Assignee of a dissolved Member is the shareholder, partner, member, or other equity owner or owners of the dissolved Member to whom such Member’s Membership Interest is assigned by the Person conducting the liquidation or winding-up of such Member. The Assignee of a Bankrupt Member is (a) the Person or Persons (if any) to whom such Bankrupt Member’s Membership Interest is assigned by order of the bankruptcy court or other Governmental Authority having jurisdiction over such Bankruptcy, or (b) in the event of a general assignment for the benefit of creditors, the creditor to which such Membership Interest is assigned.

Attribution Parties has the meaning assigned that term in Section 7.05.

Available Cash means, with respect to any calendar month ending prior to the dissolution or liquidation of the Company, and without duplication:

(a) the sum of all cash and all Cash Equivalents of the Company and its subsidiaries on hand at the end of such month, less

(b) the amount of any cash reserves that is necessary or appropriate in the reasonable discretion and good faith of the Managing Member (i) to provide for the proper conduct of the business of the Company and its subsidiaries (including reserves for future maintenance and capital expenditures and for anticipated expenses, liabilities, and future credit needs of the Company and its subsidiaries) subsequent to such month, (ii) to provide for the payment of all scheduled payments of interest and principal in respect of outstanding loans made to the Company or any of its subsidiaries pursuant to Section 4.05 or otherwise subject to Section 6.03(d), and (iii) to comply with applicable Law or any loan agreement, security agreement, mortgage, debt instrument, or other agreement or obligation to which the Company or any of its subsidiaries is a party or by which it is bound or its assets are subject.

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Notwithstanding the foregoing, “Available Cash” (y) shall not include (1) any cash or Cash Equivalents from Capital Contributions made by Members or equity issuances by any subsidiaries of the Company, (2) any cash or Cash Equivalents held by the Company’s subsidiaries to the extent that contractual restrictions prohibit the distribution of such cash or Cash Equivalents to the Company, (3) any cash or Cash Equivalents from borrowing, refinancings, or refundings of Indebtedness of the Company or any of its subsidiaries (other than any Incremental Loans (as defined in the Term Loan Agreement), which shall be treated as Available Cash for purposes of Section 5.03), (4) any PSA Contract Claim Indemnity Payments, (5) any payment of a Purchase Price Adjustment, or (6) any Sale Proceeds or Bankruptcy Recovery; and (z) with respect to the month in which a liquidation or dissolution of the Company occurs and any subsequent month shall be deemed to equal zero.

Backstop Undertaking Agreement has the meaning set forth in the Term Loan Agreement.

Bankruptcy or Bankrupt means, with respect to any Person, that (a) such Person (i) makes a general assignment for the benefit of creditors; (ii) files a voluntary bankruptcy petition; (iii) becomes the subject of an order for relief or is declared insolvent in any federal or state bankruptcy or insolvency proceedings; (iv) files a petition or answer seeking for such Person a reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any Law; (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against such Person in a proceeding of the type described in subclauses (i) through (iv) of this clause (a); or (vi) seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of such Person or of all or any substantial part of such Person’s properties; or (b) against such Person, a proceeding seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any Law has been commenced and one hundred twenty (120) days have expired without dismissal thereof or with respect to which, without such Person’s consent or acquiescence, a trustee, receiver, or liquidator of such Person or of all or any substantial part of such Person’s properties has been appointed and ninety (90) days have expired without the appointment’s having been vacated or stayed, or ninety (90) days have expired after the date of expiration of a stay, if the appointment has not previously been vacated.

Bankruptcy Recovery means any proceeds received by the Company or its subsidiaries in settlement of any claim (including any counterclaim), action, suit, or other proceeding in connection with any Bankruptcy of any other Person.

Book Value means, with respect to any Company asset, the adjusted tax basis of such asset for United States federal income tax purposes, except as follows:

(a) the initial Book Value of any asset contributed by a Member to the Company will be the gross fair market value of such asset;

(b) the Book Value of all assets of the Company will be adjusted to equal their respective gross fair market values immediately prior to (i) the contribution of money or other property to the Company by a new or existing Member as consideration for a

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Membership Interest; (ii) the distribution of money or other property by the Company to a Member as consideration for a Membership Interest; (iii) the liquidation of the Company; and (iv) at any other time at which revaluations of property are permitted to be made under Treasury Regulation Section 1.704-1(b)(2)(iv); provided that adjustments pursuant to clauses (i) through (iv) of this clause (b) shall be made only if the Managing Member determines in good faith that such adjustments are necessary or appropriate to reflect the relative economic interests of the Members;

(c) the Book Value of any asset distributed to any Member will be the gross fair market value of such asset on the date of distribution (taking Section 7701(g) of the Code into account);

(d) the Book Value of Company assets will be increased (or decreased) to reflect any adjustments to the adjusted basis of such assets pursuant to Section 734(b) of the Code or Section 743(b) of the Code, but only to the extent that such adjustments are taken into account in determining the Capital Accounts pursuant to Treasury Regulations Section 1.704 1(b)(2)(iv)(m) and clause (c) of the definition of Net Profit and Net Loss; provided, however, that the Book Value will not be adjusted pursuant to this clause (d) to the extent the Managing Member determines that an adjustment pursuant to clause (b) of this definition is necessary or appropriate in connection with a transaction that would otherwise result in an adjustment pursuant to this clause (d); and

(e) whenever the fair market value of a Company asset is required to be determined pursuant to this definition, the Managing Member shall determine such fair market value in its reasonable discretion (it being agreed by the Members that a determination by the Managing Member that the fair market value of any such asset equals the value of such asset reflected in the most recent financial statements prepared in accordance with GAAP shall be deemed reasonable).

Business Day means any day other than a Saturday, a Sunday, or a holiday on which national banking associations in the State of Delaware are closed.

Call Exercise NEP Units has the meaning assigned that term in Section 7.02(b)(ii).

Call Option has the meaning assigned that term in Section 7.02(a).

Call Option Cash Portion has the meaning assigned that term in Section 7.02(e)(i).

Call Option Closing has the meaning assigned that term in Section 7.02(b)(i).

Call Option Closing Date has the meaning assigned that term in Section 7.02(b)(i).

Call Option Election Notice has the meaning assigned that term in Section 7.02(b)(ii).

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Call Option Notice has the meaning assigned that term in Section 7.02(b)(i).

Call Option Purchase Price has the meaning assigned that term in Section 7.02(a).

Call Option Sale Notice has the meaning assigned that term in Section 7.02(b)(iii).

Call Units Sale Date has the meaning assigned that term in Section 7.02(b)(ii).

Capital Account means the account maintained by the Company for each Member in accordance with Section 4.08.

Capital Call has the meaning assigned that term in Section 4.04(a).

Capital Contribution means, with respect to any Member, the amount of money and the Book Value of any property (other than money) (reduced by the amount of any liabilities that are secured by such property) contributed, or deemed to be contributed, to the Company by the Member. Any reference in this Agreement to the Capital Contribution of a Member shall include a Capital Contribution of its predecessors in interest and for the avoidance of doubt, as of the Effective Date, upon consummation of the transactions contemplated by the Purchase Agreement, the Capital Contribution of the Class A Member shall be [three-hundred and forty-three million U.S. dollars ($343,000,000)] and the Capital Contribution of the Class B Member shall be one-hundred and sixty-eight million U.S. dollars ($168,000,000.00).

Cash Equivalents means, as of any date, with respect to any Person, all demand deposits or similar accounts with deposits available for withdrawal upon prior notice of less than ten (10) days, all marketable debt securities, short-term instruments, United States treasury bills and other evidence of indebtedness issued or guaranteed by the United States, in each case, with maturity of ten (10) days or less as of such date.

Cash Flows has the meaning assigned that term in Section 9.02(b)(ii).

Change of Control means:

(a) with respect to NEP, any of the following events:

(i) the acquisition, directly or indirectly (including by merger), of fifty percent (50%) or more of the voting equity of NEP, the General Partner, or the NEP General Partner Interest (as measured by voting power rather than the number of shares or other equity units or interests) by a Person or group that is not an Affiliate of NextEra Energy, Inc. as of the Purchase Agreement Date if such acquisition gives such Person or group the right to elect half or more of the members of the Board of Directors of NEP or the General Partner, respectively;

(ii) any Disposition, in one or a series of related transactions, of the equity interests of the OpCo General Partner or the OpCo General Partner

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Interest, the result of which is that (A) NEP ceases to own directly or indirectly more than fifty percent (50%) of the voting power of the OpCo General Partner or (B) the OpCo General Partner ceases to hold the OpCo General Partner Interest;

(iii) any Disposition, in one or a series of related transactions, the result of which is that NextEra Energy, Inc. ceases to own directly or indirectly more than thirty-three percent (33%) of the voting equity of NEP (including the Special Voting Units, as that term is used in the NEP Limited Partnership Agreement); provided, however, that the foregoing shall not be deemed to constitute a Change of Control for so long as NextEra Energy, Inc. continues to own, directly or indirectly, fifty percent (50%) or more of the voting power of the General Partner or the NEP General Partner Interest;

(iv) any Disposition, in one or a series of related transactions, of all or substantially all of the assets of NEP and its subsidiaries, taken as a whole;

(v) the NEP Common Units are no longer listed or admitted to trading on a National Securities Exchange;

(vi) any transaction pursuant to which NextEra Energy, Inc. or any of its Affiliates (other than NEP or any of its subsidiaries) would acquire (A) all of the issued and outstanding NEP Common Units or (B) all or substantially all of the assets of NEP and its subsidiaries, in each case, by way of merger, consolidation, or otherwise;

(vii) the removal of the General Partner as general partner of NEP by the limited partners of NEP, unless the successor General Partner is an Affiliate of NextEra Energy, Inc.;

(viii) any Disposition, in one or a series of related transactions, the result of which is that the Operating Partnership ceases to own, directly or indirectly, all of the equity interests of NEP Member; or

(ix) any foreclosure by any pledgee under a Class A Permitted Loan Financing (or any other financing or agreement of Indebtedness) of any Class A Units or Class B Units.

(b) with respect to any Class B Member, any of the following:

(i) a transaction or series of transactions that results in BlackRock Alternatives Management, L.L.C. no longer being an Affiliate of BlackRock, Inc. at a time when BlackRock Alternatives Management, L.L.C. or any of its Affiliates Controls or manages such Class B Member;

(ii) any Disposition, in one or a series of related transactions, of more than fifty percent (50%) of the interests in such Class B Member held by the manager, managing member, or general partner of such Class B Member; or

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(iii) any Disposition, in one or a series of related transactions, of all or substantially all of the assets of such Class B Member.

For the avoidance of doubt, a change of control of, or Disposition of any interests in, BlackRock, Inc. shall not constitute a “Change of Control” of any Class B Member.

Change of Control Cash Portion has the meaning assigned that term in Section 7.03(b)(iv).

Change of Control Closing has the meaning assigned that term in Section 7.03(b)(i).

Change of Control Closing Date has the meaning assigned that term in Section 7.03(b)(i).

Change of Control Election Notice has the meaning assigned that term in Section 7.03(b)(ii).

Change of Control NEP Units has the meaning assigned that term in Section 7.03(b)(ii).

Change of Control Notice has the meaning assigned that term in Section 7.03(b)(i).

Change of Control Purchase Price has the meaning assigned that term in Section 7.03(a).

Change of Control Sale Notice has the meaning assigned that term in Section 7.03(b)(ii).

Change of Control Units Sale Date has the meaning assigned that term in Section 7.03(b)(ii).

Change of Control Units Sale Election has the meaning assigned that term in Section 7.03(b)(ii).

Claim means any and all judgments, claims, actions, causes of action, demands, lawsuits, suits, proceedings, Governmental investigations or audits, arbitrations, inquiries, notices of violation, litigations, citations, summons or subpoenas of any nature, civil, criminal, administrative, regulatory, or otherwise, whether at Law or in equity, and any losses, assessments, fines, penalties, administrative orders, obligations, costs, expenses, liabilities, and damages (whether actual, consequential, or punitive), including interest, penalties, reasonable attorney’s fees, disbursements, and costs of investigations, deficiencies, levies, duties, imposts, remediation and cleanup costs, and natural resources damages.

Class A Member means a Person admitted to the Company as a Member holding Class A Units from time to time, in its capacity as such and not in its capacity as a holder of any

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other class or group of Membership Interest. As of the Effective Date, NEP Member is the sole Class A Member.

Class A Percentage Interest means, as of any date, the percentage determined by dividing the number of Class A Units held by a holder of Class A Units by the total number of Class A Units then outstanding.

Class A Permitted Loan Financing means any debt financing, including debt securities or loans pursuant to indentures, debt facilities, or commercial paper facilities, the issuance of notes, revolving credit loans, term loans, letters of credit, or similar instruments, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced, or refunded in whole or in part from time to time.

Class A Purchase Price has the meaning assigned that term in the Purchase Agreement.

Class A Units has the meaning assigned that term in Section 4.01.

Class B COC Cash Portion has the meaning assigned that term in Section 7.04(b)(iv).

Class B COC Closing has the meaning assigned that term in Section 7.04(b)(i).

Class B COC Closing Date has the meaning assigned that term in Section 7.04(b)(i).

Class B COC Election Notice has the meaning assigned that term in Section 7.04(b)(ii).

Class B COC NEP Units has the meaning assigned that term in Section 7.04(b)(ii).

Class B COC Notice has the meaning assigned that term in Section 7.04(b)(i).

Class B COC Option has the meaning assigned that term in Section 7.04(a).

Class B COC Purchase Price has the meaning assigned that term in Section 7.04(a).

Class B COC Sale Notice has the meaning assigned that term in Section 7.04(b)(iii).

Class B COC Units Sale Date has the meaning assigned that term in Section 7.04(b)(ii).

Class B COC Units Sale Election has the meaning assigned that term in Section 7.04(b)(ii).

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Class B Cure Actions has the meaning assigned that term in Section 6.09(c).

Class B Member means a Person admitted to the Company as a Member holding Class B Units from time to time, in its capacity as such and not in its capacity as a holder of any other class or group of Membership Interest. As of the Effective Date, after giving effect to the closing of the transactions contemplated by the Purchase Agreement, the GEPIF Investor is the sole Class B Member.

Class B Member Approval means (i) for so long as the GEPIF Investor owns any Class B Units, the prior written approval of the GEPIF Investor and (ii) if the GEPIF Investor no longer owns any Class B Units, the prior written approval of the Class B Member Representative, acting on behalf of the Class B Members holding a majority of the outstanding Class B Units (excluding Class B Units owned by NEP Member and its Affiliates).

Class B Member Representative means, as of the Effective Date, the GEPIF Investor, and thereafter, as of any date of determination, the Class B Member Representative shall be such of the GEPIF Investor’s Permitted Assignees designated as successor Class B Member Representative in accordance with Section 13.12; provided, however, that (i) for so long as the GEPIF Investor or one or more of its Affiliates own any Class B Units, the Class B Member Representative shall be the GEPIF Investor (or one of its Affiliates), and (ii) a Person may be permitted to serve as Class B Member Representative only if, and for so long as, such Person owns Class B Units or is the managing member or general partner that Controls a Class B Member.

Class B Percentage Interest means, as of any date, the percentage determined by dividing the number of Class B Units held by a holder of Class B Units by the total number of Class B Units then outstanding.

Class B Purchase Price has the meaning assigned that term in the Purchase Agreement.

Class B Units has the meaning assigned that term in Section 4.01.

Clawback Cap means, with respect to any exercise of the Call Option, NEP Change of Control Option, or Class B COC Option in which the Call Option Purchase Price, Change of Control Purchase Price, or Class B COC Purchase Price, as applicable, is to be paid wholly or in part in Non-Voting NEP Common Units and any related sale of Call Exercise NEP Units, Change of Control NEP Units, or Class B COC NEP Units, as applicable, pursuant to a Sale Arrangement, an amount (in United States dollars) equal to the product of (a) four percent (4%) multiplied by (b) the aggregate number of Call Exercise NEP Units, Change of Control NEP Units, or Class B COC NEP Units, as applicable (prior to any reduction thereof pursuant to Section 7.02(e), Section 7.03(b), or Section 7.04(b), as applicable), to be sold in such Sale Arrangement, as set forth in the applicable Call Option Sale Notice, Change of Control Sale Notice, or Class B COC Sale Notice, multiplied by (c) the Issuance Price used in the calculation of such applicable Call Option Purchase Price, Change of Control Purchase Price, or Class B COC Purchase Price.

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COC Member has the meaning assigned that term in Section 7.04(a).

Code means the Internal Revenue Code of 1986, as amended.

Commission means the United States Securities and Exchange Commission.

Company has the meaning assigned that term in the preamble.

Company Level Taxes has the meaning assigned that term in Section 8.03(d).

Completion Guaranty Agreement has the meaning set forth in the Term Loan Agreement.

Confidential Information means information and data (including all copies thereof), whether oral, written, or electronic, that constitutes proprietary or confidential information about the Company, the Members, or their respective Affiliates, including this Agreement, financial statements, tax reports, valuations, analyses of potential or actual investments, reports or other materials, and other documents and information concerning the affairs of the Company and the Members. Notwithstanding the foregoing, the term “Confidential Information” shall not include any information that:

(a) is in the public domain at the time of its disclosure or thereafter, other than as a result of a disclosure directly or indirectly by a Member or its Affiliates in contravention of this Agreement;

(b) is made available to a Member or its Affiliate from a source that, to such Member’s or its Affiliate’s knowledge, is not prohibited from disclosing such information to such Member or its Affiliates by a legal, contractual, or fiduciary obligation;

(c) as to any Member or its Affiliates, was in the possession of such Member or its Affiliates prior to the execution of this Agreement and not subject to a separate confidentiality restriction or other legal, contractual, or fiduciary obligation; or

(d) has been independently acquired or developed by or on behalf of a Member or its Affiliates without violating any of the obligations of such Member or its Affiliates under this Agreement.

Control, Controls, or Controlled means the possession, directly or indirectly, through one or more intermediaries, of the following:

(a) (i) in the case of a corporation, fifty percent (50%) or more of the outstanding voting securities thereof; (ii) in the case of a limited liability company, general partnership or joint venture, the right to fifty percent (50%) or more of the distributions therefrom (including liquidating distributions); (iii) in the case of a trust or estate, including a business trust, fifty percent (50%) or more of the beneficial interest therein; (iv) in the case of a limited partnership (A) the right to fifty percent (50%) or more of the distributions therefrom (including liquidating distributions), (B) where the

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general partner of such limited partnership is a corporation, ownership of fifty percent (50%) or more of the outstanding voting securities of such corporate general partner, (C) where the general partner of such limited partnership is a partnership, limited liability company or other entity (other than a corporation or limited partnership), the right to fifty percent (50%) or more of the distributions (including liquidating distributions) from such general partner entity, and (D) where the general partner of such limited partnership is a limited partnership, Control of the general partner of such general partner in the manner described under subclause (B) or (C) of this clause (iv), in each case, notwithstanding that such Person with respect to which Control is being determined does not possess, directly or indirectly through one or more subsidiaries, the right to receive at least fifty percent (50%) of the distributions from such limited partnership, or (v) in the case of any other entity, fifty percent (50%) or more of the economic or beneficial interest therein; or

(b) in the case of any entity, the power or authority, through ownership of voting securities, by contract or otherwise, to exercise predominant control over the management of the entity.

Covered Audit Adjustment has the meaning assigned that term in Section 8.03(c).

Covered Person has the meaning assigned that term in Section 6.08(a).

Credit Support Default has the meaning assigned that term in Section 6.09(c).

Delaware Certificate has the meaning assigned that term in the recitals.

Delaware Courts has the meaning assigned that term in Section 11.03.

Dispose, Disposing, or Disposition means, with respect to any asset (including a Membership Interest or any portion thereof or any derivative or similar arrangement whereby a portion or all of the economic interests in, or risk of loss or opportunity for gain with respect to, such Membership Interest is transferred or shifted to another Person), a sale, assignment, lease, transfer, conveyance, Encumbrance, gift, exchange, or other disposition of such asset, whether such disposition be voluntary, involuntary, or by operation of Law, including the following: (a) in the case of an asset owned by a natural person, a transfer of such asset upon the death of its owner, whether by will, intestate succession, or otherwise; (b) in the case of an asset owned by an entity, (i) a merger, division, or consolidation of such entity (other than a merger in which such entity is the survivor thereof) or (ii) a distribution of such asset, including in connection with the dissolution, liquidation, winding-up, or termination of such entity (unless, in the case of dissolution, such entity’s business is continued without the commencement of liquidation or winding-up); and (c) a disposition in connection with, or in lieu of, a foreclosure of an Encumbrance (other than an Encumbrance on Class A Units or Class B Units, as applicable and in each case, solely to the extent granted by NEP Member (or its Affiliate holding such Class A Units or Class B Units) pursuant to a Class A Permitted Loan Financing.

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Disposing Member means any Member that proposes to consummate a Disposition, including any proposed Disposition subject to Section 7.01(c), of all or any portion of its Membership Interest (whether or not the proposed Disposition is to another Member).

Disposition Notice has the meaning assigned that term in Section 7.01(a).

Dispute has the meaning assigned that term in Section 11.01.

Disputing Member has the meaning assigned that term in Section 11.01.

Dissolution Event has the meaning assigned that term in Section 12.01.

Distribution Adjustment Allocation Period means, with respect to any Fiscal Year that includes a Distribution Adjustment Date, any period during such Fiscal Year throughout which the percentage of distributions of Available Cash to which the Class A Units are entitled as a class under Section 5.01(a) does not change.

Distribution Adjustment Date means (a) any Distribution Date that occurs during the Distribution Adjustment Period on which the 25% Condition is not satisfied, or (b) the Flip Date (it being understood that, with respect to each Distribution Date, in order to determine whether any Distribution Date is a Distribution Adjustment Date, the aggregate number of Class B Units purchased on or prior to such Distribution Adjustment Date pursuant to one or more exercises of the Call Option, NEP Change of Control Option, and Class B COC Option shall be measured separately for such Distribution Date).

Distribution Adjustment Period means the period commencing on [•], 2024,¹ and ending on [•], 2025;² provided, that the Distribution Adjustment Period may not commence following, and shall terminate upon, the earlier occurrence of the Flip Date.

Distribution Date has the meaning assigned that term in Section 5.01.

DSRA Guarantee has the meaning set forth in the Term Loan Agreement under “DSRA Guaranty” and in the Account Agreement (as defined in the Term Loan Agreement) under “DSRA Guaranty”.

DSRA Letter of Credit has the meaning set forth in the Term Loan Agreement.

Economic Risk of Loss has the meaning assigned that term in Treasury Regulation Section 1.752-2(a).

Effective Date has the meaning assigned that term in the preamble.

Effective Date Capital Contribution has the meaning assigned that term in Section 4.03(b).

¹ NTD - To be the date that is sixty (60) months after the Effective Date.

² NTD - To be the date that is the day immediately preceding the sixth (6^th) anniversary of the Effective Date.

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Election Out has the meaning assigned that term in Section 8.03(b).

Emergency has the meaning set forth in the Meade Operation and Maintenance Agreement.

Encumber, Encumbering, or Encumbrance means the creation of a security interest, lien, pledge, mortgage, or other encumbrance, whether such encumbrance be voluntary, involuntary, or by operation of Law.

Excess Claim Liability means, as of any date, the excess (if any) of the Company’s liability arising out of or in connection with Welded Claims and Other Contractor Claims over the then-available remaining balance of the Indemnity Escrow Funds.

Exchange Act means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

Excluded Party means (a) the Persons listed on Schedule 1 hereto, and (b) any Person (i) named as a “Specially Designated National and Blocked Person” (“SDN”) on the most current list (“SDN List”) published by the Office of Foreign Assets Control of the U.S. Department of the Treasury at its official website or any replacement website or other replacement official publication of such list, or is otherwise the subject of any Sanctions, or (ii) in which any Person on the SDN List has fifty percent (50%) or greater ownership interest or that is otherwise Controlled by an SDN.

Expansion has the meaning set forth in the Meade Construction and Ownership Agreement.

Expansion Project means that certain Leidy South Project proposed by Transco as an expansion of Transco’s existing natural gas transmission system and an extension of Transco’s system through a capacity lease with National Fuel Gas Supply Corporation from points of receipt in northern and western Pennsylvania to Transco’s River Road regulating station in Lancaster County, Pennsylvania.

Final Purchase has the meaning assigned to that term in Section 8.02(d).

Financing Documents has the meaning set forth in the Term Loan Agreement.

Fiscal Year means any twelve (12) month period commencing on January 1 and ending on December 31.

Flip Date means the earlier of (i) [•], 2025³ and (ii) the occurrence of (A) a Monetary Default or (B) a Credit Support Default.

³ NTD - To be the date that is the sixth (6^th) anniversary of the Effective Date.

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Fully Diluted Basis means, as of any date, the aggregate number of NEP Common Units that would be outstanding, as of such date, if all outstanding Non-Voting NEP Common Units, Series A Preferred Units (as that term is defined in the NEP Limited Partnership Agreement), options, warrants, and convertible securities (excluding, for the avoidance of doubt, any securities of the Operating Partnership exchangeable for NEP Common Units) were exercised for or converted into NEP Common Units, regardless of whether such Non-Voting NEP Common Units, Series A Preferred Units, options, warrants, and convertible securities are then convertible or exercisable by their terms or otherwise.

Fund means a private equity, infrastructure, or other investment fund entity.

GAAP means generally accepted accounting principles in the United States of America, consistently applied; provided that, for any financial statements prepared as of a certain date, GAAP referenced therein shall be GAAP as of the date of such financial statements.

General Partner means NextEra Energy Partners, GP, Inc., a Delaware corporation, and its successors and permitted assigns that are admitted to NEP as the general partner thereof, in their capacity as general partner of NEP.

GEPIF Investor has the meaning assigned that term in the preamble.

Governmental Authority (or Governmental) means a federal, state, local or foreign governmental or quasi-governmental authority; a state, province, commonwealth, territory or district thereof; a county or parish; a city, town, township, village, or other municipality; a district, ward, or other subdivision of any of the foregoing; any executive, legislative, or other governing body of any of the foregoing; any agency, authority, board, department, system, service, office, commission, committee, council, or other administrative body of any of the foregoing; any court or other judicial body, or any arbitration body or tribunal; and any officer, official, or other representative of any of the foregoing.

Governmental Authorization means any authorization, approval, order, license, certificate, determination, registration, permit, or consent required of or granted by, or any notice required to be delivered to or filed with, any Governmental Authority and the expiration of any waiting period required under the HSR Act.

Held Unit Clawback Value means, with respect to any exercise of the Call Option, NEP Change of Control Option, or Class B COC Option in which the Call Option Purchase Price, Change of Control Purchase Price, or Class B COC Purchase Price, as applicable, is to be paid wholly or in part in Non-Voting NEP Common Units but there is no Sale Arrangement with respect to all or a portion of such Non-Voting NEP Common Units, an amount equal to the product (in United States dollars) of (a) four percent (4%) multiplied by (b) the aggregate number of Call Exercise NEP Units, Change of Control NEP Units, or Class B COC NEP Units, as applicable, with respect to which there is no Sale Arrangement and no Call Option Sale Notice, Change of Control Sale Notice, or Class B COC Sale Notice has been delivered, multiplied by (c) the Issuance Price; provided that the Held Unit Clawback Value may not be less than zero.

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HSR Act means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

including means including, without limitation.

Indebtedness means any amount payable by a Person as debtor, borrower, issuer, guarantor, or otherwise pursuant to (a) an agreement or instrument involving or evidencing money borrowed, or the advance of credit, including the face amount of any letter of credit supporting the repayment of indebtedness for borrowed money issued for the account of such Person or its subsidiaries and obligations under letters of credit and agreements relating to the issuance of letters of credit or acceptance of financing (in each case, only to the extent undrawn or, in the case of any drawing, not cash collateralized or reimbursed within two (2) Business Days of the date drawn), (b) indebtedness of a third party described in clauses (a), (c), or (d) of this definition that is (i) guaranteed by such Person or its subsidiaries or (ii) secured by any Encumbrance on assets owned or acquired by, such Person or its subsidiaries, whether or not the indebtedness secured thereby has been assumed such Person or its subsidiaries; provided that, in the case of any Indebtedness described in this clause (ii), the amount of such Indebtedness shall be deemed to be the lesser of the outstanding principal amount of such Indebtedness or the fair market of the assets of such Person or its subsidiaries securing such Indebtedness, (c) purchase-money indebtedness and capital lease obligations classified as such in accordance with GAAP (other than as a result of the adoption or implementation of Accounting Standards Codification No. 842 or any successor provision or amendment or other modification thereto), (d) obligations evidenced by bonds, debentures, notes or other instruments of debt securities, or by warrants or other rights to acquire any debt instruments or debt securities.

Indemnity Escrow Funds has the meaning set forth in the Meade Purchase and Sale Agreement.

Initial LLC Agreement has the meaning assigned that term in the recitals.

Internal Rate of Return means the annual effective pre-tax discounted rate per Class B Unit computed by taking into account (a) all Cash Flows in respect of such Class B Unit and (b) for purposes of Section 7.02, Section 7.03, and Section 7.04, the Call Option Purchase Price, Change of Control Purchase Price, or Class B COC Purchase Price, as applicable, to be received in respect of such Class B Unit, and, in each case, calculated using the “XIRR” function on Microsoft Office Excel 2007 (or the same function in any subsequent version of Microsoft Office Excel).

IRR Report means the financial model for the transaction attached as Exhibit B to this Agreement as agreed and accepted by the Members and updated in accordance with Section 9.02 to reflect actual results of the Company.

Issuance Price has the meaning assigned that term in Section 7.02(e).

Law means any federal, state, local, or foreign order, writ, injunction, judgment, settlement, award, decree, statute, law (including common law), rule, or regulation.

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Liquidity Event has the meaning assigned to the term in Section 7.07(a).

Major Decisions has the meaning assigned that term in Section 6.03.

Major NEP Default means (i) a Monetary Default, (ii) a Credit Support Default, (iii) any change in the debt rating of NEP as a result of which such debt ratings are Caa1 or lower by Moody’s Investor Services, Inc. and CCC+ or lower by Standard & Poor’s Financial Services LLC, or (iv) the occurrence, after the expiration of all cure periods, of any Event of Default under Section 8.01(a) or Section 8.01(b) of the Amended and Restated Revolving Credit Agreement by and among NextEra Energy Canada Partners Holdings, ULC, NextEra Energy US Partners Holdings, LLC, the Operating Partnership, and the lenders party thereto, dated as of October 24, 2017 (or the comparable provisions of any debt agreement providing for any replacement or successor senior-secured facility).

Managing Member means NEP Member or any other Person hereafter appointed as a successor Managing Member of the Company as provided in Section 6.01(a) or Section 6.01(b), as applicable, each in its capacity as such.

Meade Borrower means Meade Pipeline Investment, LLC, a Delaware limited liability company and indirect subsidiary of the Company.

Meade Construction and Ownership Agreement means that certain Construction and Ownership Agreement, dated as of February 14, 2014, by and between Transco and Meade Pipeline, as may be amended, modified, supplemented, or restated in accordance with its terms.

Meade Expansion Construction and Ownership Agreement means that certain CPL-Leidy South Facilities Construction and Ownership Agreement, dated as of August 30, 2018, by and between Transco and Meade Pipeline, as may be amended, modified, supplemented, or restated in accordance with its terms.

Meade Guarantor means Meade Pipeline Investment Holdings, LLC, a Delaware limited liability company.

Meade LLC Agreement means the limited liability company agreement of Meade Pipeline, as in effect as of the date hereof, as may be amended, modified, supplemented, or restated in accordance with its terms.

Meade Operation and Maintenance Agreement means the mean the Operation and Maintenance Agreement, dated as of February 14, 2014, by and between Transco and Meade Pipeline, as amended by the First Amendment to Operation and Maintenance Agreement, effective as of August 30, 2018, and as may be further amended, modified, supplemented, or restated in accordance with its terms.

Meade Permitted Indebtedness means all Indebtedness of the Company and its subsidiaries under (a) the Tranche A Facility, (b) the Tranche B Facility, and (c) the Tranche C Facility, each pursuant to the terms of the Term Loan Agreement, as may be amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced, or

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refunded in whole or in part from time to time, in each case, subject to Section 6.03(d); provided, however, for the avoidance of doubt, no Incremental Loans (as defined in the Term Loan Agreement) shall be considered Meade Permitted Indebtedness.

Meade Pipeline means Meade Pipeline Co LLC, a Delaware limited liability company.

Meade Purchase and Sale Agreement means that certain Purchase and Sale Agreement, dated as of September 29, 2019, by and among EIF Meade Holdings, LLC, a Delaware limited liability company, VED NPI II, LLC, a Delaware limited liability company, COG Holdings LLC, a Delaware limited liability company, WGL Midstream MP, LLC, a Delaware limited liability company, and VED NPI I, LLC, a Delaware limited liability company, as Sellers, and the Meade Borrower, as Buyer.

Meade Transfer Tax Liability means, as of any date, the excess (if any) of (i) the amount of Transfer Taxes due and payable for which the Company or its subsidiaries are liable over (ii) the then-remaining available amount of the Transfer Tax Escrow Funds.

Member means any Person executing this Agreement as of the Effective Date as a member or hereafter admitted to the Company as a New Member as provided in this Agreement, but such term does not include any Person who has ceased to be a member in the Company.

Member Nonrecourse Debt has the meaning assigned to the term “partner nonrecourse debt” in Treasury Regulation Section 1.704-2(b)(4).

Member Nonrecourse Debt Minimum Gain has the meaning assigned to the term “partner nonrecourse debt minimum gain” in Treasury Regulation Section 1.704-2(i)(2).

Member Nonrecourse Deductions has the meaning assigned to the term “partner nonrecourse deductions” in Treasury Regulation Section 1.704-2(i)(1).

Membership Interest means, with respect to any Member, (a) such Member’s status as a Member; (b) that Member’s share, as a holder of Class A Units or Class B Units, of the income, gain, loss, deduction, and credits of, and the right to receive distributions from, the Company; (c) all other rights, benefits, and privileges enjoyed by that Member (under the Act, this Agreement, or otherwise) in its capacity as a Member, including such Member’s rights to vote, consent, and approve matters, as set forth in this Agreement; and (d) all obligations, duties, and liabilities imposed on such Member (under the Act, this Agreement, or otherwise) in its capacity as a Member.

Minimum Gain has the meaning assigned that term in Treasury Regulation Section 1.704 2(d).

Monetary Default means a failure of NEP Member (a) to make a Capital Contribution to the Company in cash in the amount of NEP Member’s proportionate share (as determined pursuant to Section 4.04(a)) of a Transco Capital Call for the Expansion Project pursuant to Section 4.04(b), (b) to the extent any Class B Member opts not to make a Capital

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Contribution pursuant to Section 4.04(b), to make a Capital Contribution or loan to the Company in the amount of such Class B Member’s unfunded proportionate share of any Transco Capital Call for the Expansion Project pursuant to Section 4.04(b), or (c) to make a required Capital Contribution to the Company pursuant to Section 4.04(c).

National Securities Exchange means an exchange registered with the Commission under Section 6(a) of the Exchange Act (or any successor to such Section).

Negotiation Period has the meaning assigned that term in Section 7.01(c)(ii).

NEP has the meaning assigned that term in the preamble.

NEP Change of Control Option has the meaning assigned that term in Section 7.03(a).

NEP Class B Parties means, as of any date, such of the NEP Member and its Affiliates and Permitted Assignees as hold Class B Units on such date (and each, individually, a “NEP Class B Party”).

NEP Common Unit means an interest of a limited partner in NEP having the rights and obligations specified with respect to “Common Units,” as that term is used and defined in the NEP Limited Partnership Agreement.

NEP General Partner Interest means the general partner interest of NEP held by the General Partner.

NEP Limited Partnership Agreement means that certain Fourth Amended and Restated Agreement of Limited Partnership of NEP, dated as of June 10, 2019, by and among NextEra Energy Partners GP, Inc., a Delaware corporation, as the General Partner, and NextEra Energy Equity Partners, LP, a Delaware limited partnership, together with the other partners that are parties thereto, as may be amended, amended and restated, supplemented, or modified from time to time in accordance with the terms thereof.

NEP Member has the meaning assigned that term in the preamble.

Net Profits and Net Loss means, for each Fiscal Year or other period, including any Distribution Adjustment Allocation Period, an amount equal to the Company’s taxable income or loss for such year or period, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss), with the following adjustments:

(a) any income of the Company that is exempt from federal income tax not otherwise taken into account in computing Net Profits or Net Loss shall be added to such taxable income or loss;

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(b) any expenditures of the Company described in Section 705(a)(2)(B) of the Code or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(i) and not otherwise taken into account in computing Net Profits or Net Loss shall be subtracted from such taxable income or loss;

(c) income, gain, or loss resulting from any disposition of, distribution to a Member of, or depreciation, amortization, or other cost recovery deductions with respect to, Company property shall be computed by reference to the Book Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from its Book Value;

(d) in the event the Book Value of any Company asset is adjusted pursuant to clause (b) or clause (c) of the definition of Book Value, the amount of such adjustment shall be taken into account as gain or loss from the disposition of such asset for purposes of computing Net Profits and Net Losses;

(e) to the extent an adjustment to the adjusted tax basis of any asset pursuant to Section 734(b) of the Code or Section 743(b) of the Code is required pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m)(4) to be taken into account in determining Capital Accounts as a result of a distribution (other than in liquidation of a Member’s interest in the Company), the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases the basis of the asset) from the disposition of the asset and shall be taken into account for purposes of computing Net Profits or Net Losses; and

(f) notwithstanding any other provision of this definition of “Net Profits” and “Net Loss,” any item that is specially allocated pursuant to Section 5.04(b) shall not be taken into account in computing Net Profits or Net Loss. The amounts of the items of Company income, gain, loss or deduction available to be specially allocated pursuant to Section 5.04(b) shall be determined by applying rules analogous to those set forth in this definition of “Net Profits” and “Net Loss.”

New Member means a Person, other than the GEPIF Investor or NEP Member, admitted after the Effective Date pursuant to the terms and conditions herein.

Non-Voting NEP Common Units means “Non-Voting Common Units” of NEP, as that term is used and defined in the NEP Limited Partnership Agreement, which have the same economic rights as the NEP Common Units but no voting rights on any matter whatsoever and shall not be listed on any National Securities Exchange.

Nonrecourse Deductions has the meaning assigned that term in Treasury Regulation Section 1.704-2(b).

Notice Period has the meaning assigned that term in Section 7.01(c)(ii).

Offer Notice has the meaning assigned that term in Section 7.01(c)(ii).

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OpCo Credit Agreement means that certain Amended and Restated Revolving Credit Agreement, dated as of October 24, 2017, by and among NextEra Energy US Partners Holdings, LLC and NextEra Energy Canada Partners Holdings, ULC, as borrowers, the Operating Partnership, as guarantor, the lenders parties thereto, Bank of America, N.A., as administrative agent and as collateral agent, and Bank of America, N.A. (Canada Branch), as Canadian agent, as amended, modified, supplemented, restated, or refinanced from time to time.

OpCo General Partner means NextEra Energy Operating Partners GP, LLC, a Delaware limited liability company, and its successors and permitted assigns that are admitted to the Operating Partnership as the general partner thereof, in their capacity as general partner of the Operating Partnership.

OpCo General Partner Interest means the general partner interest of the Operating Partnership held by the OpCo General Partner.

Operating Partnership means NextEra Energy Operating Partners, LP, a Delaware limited partnership.

Option A has the meaning assigned that term in Section 8.03(d).

Option B has the meaning assigned that term in Section 8.03(d).

Other Contractor Claims has the meaning set forth in the Meade Purchase and Sale Agreement.

Parent means, with respect to any Member, a Person that Controls such Member.

Partnership Representative has the meaning assigned that term in Section 8.03(a).

Permitted Assignee means any assignee of all or any portion of a Member’s Class A Units or Class B Units, the Disposition of which was made in accordance with Section 7.01.

Permitted Refinancing has the meaning assigned that term in Section 6.09(b).

Person has the meaning assigned that term in Section 18‑101(12) of the Act and also includes a Governmental Authority and any other entity (including any foreign trust or foreign business organization), and the heirs, executors, administrators, legal representatives, successors, and assigns of such Person where the context so provides.

Pre-Closing Tax Liabilities means all liabilities for Taxes of the Company for any taxable period that ends on or prior to the Effective Date and the pre-Effective Date portion of any taxable period that begins on or prior to the Effective Date and ends after the Effective Date.

Project has the meaning set forth in the Meade LLC Agreement.

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Project Costs has the meaning set forth in the Meade Construction and Ownership Agreement.

PSA Contract Claim Indemnity Payments means any and all payments received by the Company in respect of indemnification by Sellers pursuant to the Meade Purchase and Sale Agreement, including proceeds of any representations and warranties insurance policy entered into with respect to the Meade Purchase and Sale Agreement.

Purchase Agreement has the meaning assigned that term in the recitals.

Purchase Agreement Date means September 29, 2019.

Purchase Price Adjustment means the amount, if any, paid to Meade Borrower by Sellers (from the Adjustment Escrow Account (as defined in the Meade Purchase and Sale Agreement) or otherwise) pursuant to Section 2.3(d)(i) of the Meade Purchase and Sale Agreement.

Purchase Price Increase means the amount, if any, paid by Meade Borrower to Sellers pursuant to Section 2.3(d)(ii) of the Meade Purchase and Sale Agreement.

Quarter means, unless the context requires otherwise, a fiscal quarter of the Company.

Registration Rights Agreement means that certain Registration Rights Agreement, dated as of the Effective Date, by and among the Company, NEP and the GEPIF Investor.

Regulatory Allocations has the meaning assigned that term in Section 5.04(b)(vii).

Reimbursable Fee has the meaning assigned that term in the Purchase Agreement.

Required Governmental Authorizations means those Governmental Authorizations required under applicable Law to be obtained in connection with the exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option, each in accordance with the terms hereof.

Sale Arrangement has the meaning assigned that term in Section 7.02(b)(ii).

Sale Election has the meaning assigned that term in Section 7.02(b)(ii).

Sale Proceeds means the net proceeds, after payment of all of the related costs and expenses of the Company and its subsidiaries, as the result of (a) a sale of the Company pursuant to which any Person (or group of Persons) acquires, directly or indirectly, (i) all or substantially all of the assets of the Company and its subsidiaries (determined on a consolidated basis) or (ii) all of the outstanding equity securities of the Company, whether by merger,

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consolidation, recapitalization, reorganization, purchase of securities, or otherwise, or (b) a Disposition of any material assets of the Company or its subsidiaries, excluding, in each case, any Liquidity Event.

Sale Unit Clawback Value means, with respect to any exercise of the Call Option, NEP Change of Control Option, or Class B COC Option in which the Call Option Purchase Price, Change of Control Purchase Price, or Class B COC Purchase Price, as applicable, is to be paid wholly or in part in Non-Voting NEP Common Units and any related sale of Call Exercise NEP Units, Change of Control NEP Units, or Class B COC NEP Units, as applicable, pursuant to a Sale Arrangement, an amount (in United States dollars) equal to:

(a) the sum of (i) the product of (A) the Agreed Sale Price with respect to such Sale Arrangement, as set forth in the applicable Call Option Sale Notice, Change of Control Sale Notice, or Class B COC Sale Notice, multiplied by (B) the aggregate number of Call Exercise NEP Units, Change of Control NEP Units, or Class B COC NEP Units, as applicable, to be sold in such Sale Arrangement, as set forth in the applicable Call Option Sale Notice, Change of Control Sale Notice, or Class B COC Sale Notice, plus (ii) the product of (A) four percent (4%) multiplied by (B) the aggregate number of Call Exercise NEP Units, Change of Control NEP Units, or Class B COC NEP Units, as applicable, with respect to which a Call Option Sale Notice, Change of Control Sale Notice, or Class B COC Sale Notice, as applicable, has been delivered (prior to any reduction thereof pursuant to Section 7.02(e), Section 7.03(b), or Section 7.04(b), as applicable), multiplied by (C) the Issuance Price;

less (b) the product of (i) the Issuance Price used in the calculation of the number of Non-Voting NEP Common Units to be paid as some or all of the Call Option Purchase Price, Change of Control Purchase Price, or Class B COC Purchase Price set forth in the applicable Call Option Notice, notice delivered by NEP Member pursuant to Section 7.03(b)(ii), or Class B COC Notice with respect to which a Call Option Sale Notice, Change of Control Sale Notice, or Class B COC Sale Notice has been delivered multiplied by (ii) the number of Call Exercise NEP Units, Change of Control NEP Units, or Class B COC NEP Units, as applicable, to be sold pursuant to the applicable Sale Arrangement;

provided that the Sale Unit Clawback Value may not be less than zero and shall not exceed the Clawback Cap.

Sanctions means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state, the Treasury of the United Kingdom, or other relevant sanctions authority.

SDN has the meaning assigned that term in the definition of the term “Excluded Party.”

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SDN List has the meaning assigned that term in the definition of the term “Excluded Party.”

Section 754 Election has the meaning assigned that term in Section 8.02(a)(iii).

Securities Act means the Securities Act of 1933, as amended.

Sellers has the meaning set forth in the Meade Purchase and Sale Agreement.

Tax means all foreign, federal, state, or local taxes, fees, assessments, and other governmental charges of a similar nature (whether imposed directly or through withholding), including any interest, additions to tax, or penalties applicable thereto.

Term has the meaning assigned that term in Section 2.06.

Term Loan Agreement means that certain Credit Agreement, dated as of September 29, 2019, by and among Meade Borrower, Meade Guarantor, and each other party that becomes a party thereto pursuant to a joinder agreement, the financial institutions from time to time party thereto as lenders, MUFG Bank, Ltd., as administrative agent for the lenders, MUFG Union Bank, N.A., as collateral agent for the secured parties and as depositary agent, and Citibank, N.A. and MUFG Bank, Ltd., as coordinating lead arrangers and joint bookrunners.

Third-Party Buyer has the meaning assigned that term in Section 7.02(b)(ii).

Trading Day means a day on which the principal National Securities Exchange on which the NEP Common Units are listed or admitted to trading is open for the transaction of business or, if such NEP Common Units are not listed or admitted to trading on any National Securities Exchange, a day on which banking institutions in New York, New York generally are open.

Tranche A Credit Support means the Affiliate Guarantee, the Backstop Undertaking Agreement, the DSRA Letter of Credit, and the DSRA Guarantee and, to the extent any of the foregoing is replaced by NEP or its Affiliates in a manner that complies with the Financing Documents, such replacements thereof.

Tranche A Facility means the Tranche A Term Loan Facility (as defined in the Term Loan Agreement), pursuant to the Term Loan Agreement, in an aggregate principal amount up to seven-hundred and fifty-seven million U.S. dollars ($757,000,000) to be incurred on the Effective Date pursuant to the Term Loan Agreement, the net proceeds of which will be used to fund the acquisition of Meade Pipeline in accordance with the terms of the Meade Purchase and Sale Agreement.

Tranche B Credit Support means the Affiliate Guarantee, the Backstop Undertaking Agreement, the Completion Guaranty Agreement, the DSRA Letter of Credit, the DSRA Guarantee, and the Tranche B Support Letter of Credit and, to the extent any of the foregoing is replaced by NEP or its Affiliates in a manner that complies with the Financing Documents, such replacements thereof.

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Tranche B Facility means that certain Tranche B Term Loan Facility (as defined in the Term Loan Agreement) pursuant to the Term Loan Agreement, in an aggregate principal amount of up to sixty-eight million U.S. dollars ($68,000,000), the net proceeds of the initial draw of which will be used to fund the acquisition of Meade Pipeline.

Tranche B Support Letter of Credit has the meaning set forth in the Term Loan Agreement.

Tranche C Credit Support means the Affiliate Guarantee, the Backstop Undertaking Agreement, the Completion Guaranty Agreement, the DSRA Letter of Credit, and the DSRA Guarantee and, to the extent any of the foregoing is replaced by NEP or its Affiliates in a manner that complies with the Financing Documents, such replacements thereof.

Tranche C Facility means that certain Tranche C Term Loan Facility (as defined in the Term Loan Agreement) pursuant to the Term Loan Agreement, in an aggregate principal amount of up to ninety-three million U.S. dollars ($93,000,000.00), to be incurred following the Effective Date pursuant to the Term Loan Agreement, the net proceeds of which will be used to fund the Expansion Project.

Transco means Transcontinental Gas Pipe Line Company, LLC, a Delaware limited liability company.

Transco Capital Call means a Capital Call (as defined in the Meade Construction and Ownership Agreement or the Meade Expansion Construction and Ownership Agreement, as applicable) made by Transco and delivered to Meade Pipeline pursuant to the Meade Construction and Ownership Agreement or the Meade Expansion Construction and Ownership Agreement, as applicable.

Transco Lease means that certain Lease Agreement, dated as of February 14, 2014, by and between Transco and Meade Pipeline, as may be amended, modified, supplemented, or restated in accordance with its terms.

Transco MOU means that certain Memorandum of Understanding, dated as of February 14, 2014, by and between Transco and Meade Pipeline, as may be amended, modified, supplemented, or restated in accordance with its terms.

Transfer Agent means such bank, trust company, or other Person as may be appointed pursuant to the NEP Limited Partnership Agreement to act as registrar and transfer agent for any class of partnership interests of NEP.

Transfer Tax Escrow Funds has the meaning set forth in the Meade Purchase and Sale Agreement.

Transfer Taxes has the meaning set forth in the Meade Purchase and Sale Agreement.

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Treasury Regulations means the regulations (including temporary regulations) promulgated by the United States Department of the Treasury pursuant to and in respect of provisions of the Code. All references herein to sections of the Treasury Regulations shall include any corresponding provision or provisions of succeeding, similar or substitute, temporary, or final Treasury Regulations.

Triggering Event means the occurrence of any of the following: (i) on or after [•], 2026,⁴ NEP Member (together with its permitted assignees) shall not have purchased more than fifty percent (50%) of the aggregate number of Class B Units outstanding on the Effective Date pursuant to one or more exercises of the Call Option, NEP Change of Control Option, Class B COC Option, or right of first offer pursuant to Section 7.01(c), (ii) NEP Member (or its permitted assignee) fails to satisfy NEP Member’s obligations pursuant to Section 7.03 upon a Class B Member’s exercise of the NEP Change of Control Option; (iii) NEP Member otherwise materially breaches its obligations under this Agreement and fails to cure such breach within ten (10) days following NEP Member’s receipt of written notice of such breach or (iv) a Major NEP Default.

Unreturned Contribution means, as of any date, with respect to any Member, (a) the aggregate amount of all Capital Contributions made in respect of each Class A Unit and Class B Unit held by such Member on or prior to such date (including by such Member’s predecessor in interest with respect to such Class A Unit or Class B Unit), less (b) the aggregate amount of all distributions made by the Company in respect of each Class A Unit and Class B Unit held by such Member on or prior to such date (including to such Member’s predecessor in interest with respect to such Class A Unit or Class B Unit).

Unreturned Contribution Percentage means, as of any date, with respect to any Member, a fraction, the numerator of which is the Unreturned Contribution of such Member as of such date and the denominator of which is the aggregate Unreturned Contributions of all Members as of such date.

VWAP per NEP Common Unit on any Trading Day means the per NEP Common Unit volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “NEP <equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the closing price of one NEP Common Unit on such Trading Day as reported on the New York Stock Exchange’s website or the website of the National Securities Exchange upon which the NEP Common Units are listed); provided, however, that, if the VWAP cannot be calculated for the NEP Common Units on a particular date on any of the foregoing bases, the VWAP of the NEP Common Units on such date shall be the fair market value as determined in good faith by the board of directors of NEP in a commercially reasonable manner.

⁴ NTD - To be the date that is seventy-eight months after the Effective Date.

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Welded Claims has the meaning set forth in the Meade Purchase and Sale Agreement.

Williams Agreements means the Meade Construction and Ownership Agreement, the Meade Expansion Construction and Ownership Agreement, the Meade Operation and Maintenance Agreement, the Transco Lease, the Transco MOU, the Waiver, Release and Settlement Agreement (as defined in the Purchase Agreement) and any other agreement between Transco or any of its Affiliates and the Company or any of its subsidiaries.

Withdraw, Withdrawing, or Withdrawal means the withdrawal, resignation, or retirement of a Member from the Company as a Member. Such terms shall not include any Dispositions of Membership Interests (which are governed by Article 7), even though the Member making a Disposition may cease to be a Member as a result of such Disposition.

Withdrawn Member means a Member that is deemed to have Withdrawn pursuant to Section 10.03.

1.02 Interpretation. Unless the context requires otherwise: (a) the gender of each word used in this Agreement includes the masculine, feminine, and neuter; (b) references to Articles and Sections refer to Articles and Sections of this Agreement; (c) references to Exhibits refer to the Exhibits attached to this Agreement, each of which is made a part hereof for all purposes; (d) references to Laws refer to such Laws as they may be amended from time to time, and references to particular provisions of a Law include any corresponding provisions of any succeeding Law; (e) references to money refer to legal currency of the United States of America; (f) the definitions given for terms in this Article 1 and elsewhere in this Agreement shall apply to both the singular and plural forms of the terms defined; (g) the conjunction “or” shall be understood in its inclusive sense (and/or); and (h) the words “hereby,” “herein,” “hereunder,” “hereof,” and words of similar import refer to this Agreement as a whole (including any Exhibits and Schedules hereto) and not merely to the specific section, paragraph, or clause in which such word appears.

ARTICLE 2

ORGANIZATION

2.01 Formation. The Company has been formed as a Delaware limited liability company by the filing of the Delaware Certificate as of July 15, 2019, and by NEP Member’s entrance into the Initial LLC Agreement.

2.02 Name. The name of the Company is NextEra Energy Partners Pipelines, LLC, and all Company business shall be conducted in that name or such other names that comply with applicable Law as the Managing Member may select.

2.03 Registered Office; Registered Agent; Principal Office in the United States; Other Offices. The registered office of the Company required by the Act to be maintained in the State of Delaware shall be the office of the initial registered agent named in the Delaware Certificate or such other office (which need not be a place of business of the Company) as the

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Managing Member may designate in the manner provided by Law. The registered agent of the Company in the State of Delaware shall be the initial registered agent named in the Delaware Certificate or such other Person or Persons as the Managing Member may designate in the manner provided by Law. The principal office of the Company in the United States shall be at such place as the Managing Member may designate, which need not be in the State of Delaware, and the Company shall maintain records there or at such other place as the Managing Member shall designate and shall keep the street address of such principal office at the registered office of the Company in the State of Delaware. The Company may have such other offices as the Managing Member may designate.

2.04 Purposes. The purposes of the Company are to acquire, accept, own, hold, sell, lease, transfer, finance, refinance, exchange, and exercise all of its rights in respect of, directly or indirectly through subsidiaries, the Assets and any other assets acquired by the Company or its subsidiaries after the Effective Date in accordance with the terms of this Agreement together with the liabilities of the Company or its subsidiaries related thereto (including the Meade Permitted Indebtedness), and to engage in any lawful act or activity and to exercise any powers permitted to limited liability companies formed under the laws of the State of Delaware that are ancillary, related, or incidental to, or necessary or appropriate for the accomplishment of, the foregoing purposes.

2.05 No State Law Partnership. The Members intend that the Company shall be a limited liability company and, except as provided herein with respect to U.S. federal (and applicable state and local) income tax treatment, the Company shall not be a partnership (including a limited partnership) or joint venture, and no Member shall be a partner or joint venturer of any other Member, for any purposes, and this Agreement may not be construed to suggest otherwise.

2.06 Term. The period of existence of the Company (the “Term”) commenced on July 15, 2019, and shall end at such time as the Company is dissolved and wound up in accordance with this Agreement and the Act and a certificate of cancellation is filed with the Secretary of State of the State of Delaware in accordance with Section 12.04.

2.07 Title to Property. All assets, property, and rights of the Company shall be owned or leased by the Company as an entity and, except with respect to assets, property, or rights of the Company leased or licensed to the Company by a Member (subject to the terms hereof), no Member shall have any ownership interest in such assets, property, or rights in its individual name or right, and each Member’s Membership Interest shall be personal property for all purposes. The Company shall hold all assets, property, and rights of the Company in the name of the Company and not in the name of any Member.

2.08 Foreign Qualification. Prior to the Company’s conducting business in any jurisdiction other than Delaware, the Company shall comply with all requirements necessary to qualify the Company as a foreign limited liability company in any jurisdiction in which the Company owns property or transacts business to the extent such qualification or registration is necessary or advisable for the protection of the limited liability of the Members or to permit the Company lawfully to own property or transact business. The Company shall execute and deliver

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any or all certificates or other instruments conforming with this Agreement that are necessary or appropriate to qualify, continue, or terminate the Company as a foreign limited liability company in all jurisdictions in which the Company conducts business.

ARTICLE 3

MEMBERS

3.01 Schedule of Members. The name and address of each Member, the amount of each Member’s Capital Contributions, the number and class of Membership Interests held by each Member, and each Member’s Class A Percentage Interest and/or Class B Percentage Interest, as applicable, are set forth on the schedule of Members attached hereto as Exhibit A. As of the Effective Date, the GEPIF Investor and NEP Member are the Members of the Company, and their respective Effective Date Capital Contributions, class of Membership Interest and Class A Percentage and/or Class B Percentage Interest, as applicable, are set forth on Exhibit A hereto. The Managing Member shall cause the schedule of Members set forth on Exhibit A to be amended, and the books and records of the Company to be updated, to reflect the admission of any New Member, the withdrawal or substitution of any Member, the Disposition of Membership Interests, additional Capital Contributions made by any Member, or the receipt by the Company of notice of any change of address of a Member, each in accordance with, and after compliance with, the terms of this Agreement. No such amendment or revision to the schedule of Members shall be deemed an amendment to this Agreement or require the consent of any Member. Any reference in this Agreement to the schedule of Members shall be deemed to be a reference to the schedule of Members as amended and in effect from time to time.

3.02 Representations and Warranties of the Members. Each Member hereby represents and warrants to the Company and each other Member that the following statements are true and correct as of the Effective Date and shall be true and correct at all times that such Member is a Member:

(a) such Member is duly incorporated, organized, or formed (as applicable), validly existing, and in good standing under the Law of the jurisdiction of its incorporation, organization, or formation; if required by applicable Law, such Member is duly qualified and in good standing in the jurisdiction of its principal place of business, if different from its jurisdiction of incorporation, organization, or formation; and such Member has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder, and all necessary actions by the board of directors, stockholders, managers, members, partners, trustees, beneficiaries, or other applicable Persons necessary for the due authorization, execution, delivery, and performance of this Agreement by such Member have been duly taken;

(b) such Member has duly executed and delivered this Agreement, the Registration Rights Agreement, and the other documents that this Agreement contemplates that such Member will execute, and they each constitute the valid and binding obligation of such Member, enforceable against such Member in accordance with their respective terms (except as may be limited by bankruptcy, insolvency, or similar Laws of general application and by the effect of general principles of equity, regardless of whether considered at Law or in equity); and

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(c) such Member’s authorization, execution, delivery, and performance of this Agreement does not and will not (i) conflict with, or result in a breach, default, or violation of, or result in a default or the creation of an Encumbrance, or give rise to any right of termination, cancellation, or acceleration of any of the terms, conditions, or provisions of (A) the organizational and governing documents of such Member, (B) any contract or agreement to which such Member is a party or by which it or its assets are bound, or (C) any Law, order, judgment, decree, writ, injunction, or arbitral award to which such Member is subject; or (ii) require any consent, approval, or authorization from, filing or registration with, or notice to, any Governmental Authority or other Person, unless such requirement has already been satisfied.

3.03 Voting Rights of Members. Other than with respect to the Managing Member, in its capacity as such, and except as provided in Section 3.06, Section 6.01, Section 6.03, Section 6.04, Section 7.01(a), Section 7.07, Section 8.03, Section 12.01(a), and Section 13.04, no vote, consent, or approval by the Members will be required for any matter or matters relating to the Company and its business or affairs or otherwise arising under this Agreement. If at any time there is more than one Class A Member, then any action requiring the Class A Members to act as a class will require the approval of a majority of the outstanding Class A Units, and, if at any time there is more than one Class B Member, then any action requiring the Class B Members to act as a class will require Class B Member Approval. NEP Member and its Affiliates shall have no right to vote any Class B Units held by them on any matter.

3.04 No Management Rights. Except as otherwise expressly provided in this Agreement, no Member, in its capacity as such, other than the Managing Member (including any successor Managing Member) will have any right, power, or authority to take part in the management or control of the business of, or transact any business for, the Company, to sign for or on behalf of the Company or to bind the Company in any manner whatsoever. No Member other than the Managing Member will hold out or represent to any third party that any such Member has any such power or right or that any such Member is anything other than a member in the Company.

3.05 Limitation on Liability of Members.

(a) To the fullest extent permitted under the Act and any other Law, no Covered Person will have any personal liability whatsoever solely by reason of being a Covered Person, whether to the Company, its creditors, or any other Person, for the debts, obligations, expenses, or liabilities of the Company, whether arising in contract, tort, or otherwise, which will be solely the debts, obligations, expenses, or liabilities of the Company. All Persons dealing with the Company shall have recourse solely to the assets of the Company for the payment of debts, obligations, expenses, or liabilities of the Company. No Member shall take, or cause to be taken, any action that would result in any other Member’s having any personal liability for the obligations of the Company. In no event will any Member, including any Class A Member in its capacity as the Managing Member or any of its, the Company’s, or any of their respective subsidiaries’ officers, directors, members, managers, stockholders, partners, principals, Affiliates, agents, or employees be liable under this Agreement to the Company or any other Member for any (i) punitive damages or (ii) consequential damages, including any loss of future revenue or income, loss of business reputation or business opportunity, damages based on any type of

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multiple, or any damages that are not reasonably foreseeable, except if in any such case such damages relate to, arise out of, or in any way relate to any breach of this Agreement and are in the form of diminution in value (it being understood that any change in the market price of the NEP Common Units shall not in and of itself constitute diminution in value damages) or are payable to a third party in connection with any third-party Claims.

(b) Except as otherwise expressly provided herein, including the obligations of the NEP Member pursuant to Section 4.04, no Member will be required to restore a deficit balance in its Capital Account or make any additional contributions beyond its Effective Date Capital Contributions that have been made as of the Effective Date. To the fullest extent permitted by Law, the failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement or the Act will not be grounds for imposing personal liability on the Members for liabilities of the Company.

3.06 Withdrawal of Members. Except as otherwise provided in this Agreement, no Member will be entitled to (a) voluntarily resign or otherwise Withdraw from the Company; (b) withdraw any part of such Member’s Capital Contributions from the Company; (c) demand the return of such Member’s Capital Contributions; or (d) receive property other than cash in return for such Member’s Capital Contribution, in each case, without the prior written consent of all remaining Members, in their sole and absolute discretion.

3.07 Access to Information. Each Member shall (i) be entitled to receive any information or reports delivered to Meade Pipeline by Transco, pursuant to the Meade Construction and Ownership Agreement or otherwise, and any other information that it may request concerning the Company and its subsidiaries, subject to Section 18-305(c) of the Act (provided, however, that this Section 3.07 shall not obligate the Company or the Managing Member to create any information that does not already exist at the time of such request (other than to convert existing information from one medium to another, such as providing a printout of information that is stored in a computer database)), (ii) be entitled to receive the reports and information set forth in Article 9 pursuant to the terms set forth therein, and (iii) have the right, upon reasonable advance notice, and at all reasonable times during usual business hours, to inspect the books of account and other records and reports of the Company. The Members’ right pursuant to clause (iii) may be exercised through any agent or employee of such Member designated in writing by it or by an independent public accountant, attorney, or other consultant so designated. The Member making the request shall bear the reasonable and documented out-of-pocket costs and expenses incurred in any inspection made on such Member’s behalf. The Members agree to reasonably cooperate, and to cause their respective independent public accountants, attorneys, and consultants to reasonably cooperate, in connection with any such request. Confidential Information obtained pursuant to this Section 3.07 shall be subject to the provisions of Section 3.08.

3.08 Confidential Information. (a) Except as permitted by Section 3.08(b), (i) each Member shall keep confidential all Confidential Information and shall not disclose any Confidential Information to any Person, including any of its Affiliates; and (ii) each Member shall use the Confidential Information only in connection with Company matters (including the

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Company’s conduct of its business in accordance with Section 2.04) or the internal affairs of such Member.

(b) Notwithstanding Section 3.08(a), but subject to the other provisions of this Section 3.08, a Member may make the following disclosures and uses of Confidential Information:

(i) disclosures to another Member in connection with the conduct of the business and affairs of the Company and its subsidiaries;

(ii) disclosures and uses that are approved by the Managing Member;

(iii) disclosures to Governmental Authorities (x) as required by applicable Law or (y) as may be required from time to time to obtain the Required Governmental Authorizations;

(iv) disclosures in connection with any financing for the Company or any of its subsidiaries, as approved (A) pursuant to Section 6.03 or (B) by the Class B Member Representative at any time from and after a Triggering Event;

(v) disclosures to an Affiliate of such Member, including the directors, officers, managers, members, partners, employees, agents, and advisors of such Affiliate, if such Affiliate is subject to a confidentiality obligation with the disclosing Member obligating such Affiliate to keep such Confidential Information confidential or if such Affiliate has agreed in writing to abide by the terms of this Section 3.08;

(vi) disclosures to a Person that is not a Member or an Affiliate of a Member, if such Person has been retained by the Company or any of its subsidiaries to provide services to or for the Company or any of its subsidiaries or by the Class B Member Representative or its representatives (A) in connection with the Class B Member Representative’s rights under Section 7.07 or (B) at any time from and after a Triggering Event, and is subject to a customary confidentiality obligation with the Company obligating such Person to keep such Confidential Information confidential on terms no less favorable in any material respect to the Company than this Section 3.08;

(vii) disclosures to (A) a bona fide potential direct or indirect purchaser of such Member’s Membership Interest or in a Liquidity Event pursuant to an exercise of the Class B Member Representative’s rights under Section 7.07, (B) any financing source or potential financing source to such Member or the Affiliates of such Member, or (C) any advisors, consultants, accountants, attorneys, financing sources or potential financing sources, or other representatives of any bona fide potential direct or indirect purchaser of such Member’s Membership Interest or in a Liquidity Event pursuant to an exercise of the Class B Member Representative’s rights under Section 7.07 or any representatives of the foregoing, in each case, if such potential purchaser, financing source or potential financing source, or representative is subject to a confidentiality agreement with the disclosing Member or the Company obligating the potential

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purchaser, financing source, potential financing source, or representative to keep such Confidential Information confidential on terms no less favorable in any material respect to the Company than this Section 3.08.

(viii) disclosures required, with respect to a Member or an Affiliate of a Member, pursuant to (A) the Securities Act and the rules and regulations promulgated thereunder, (B) the Exchange Act and the rules and regulations promulgated thereunder, (C) any state securities Laws, (D) the rules and regulations of any National Securities Exchange, or (E) pursuant to an audit or examination by a Governmental Authority, or any regulator or self-regulatory organization;

(ix) disclosures to any Fund that owns, directly or indirectly, or otherwise Controls the disclosing Member, or to any Affiliated Fund, or to any existing or potential investor in such Fund or Affiliated Fund, solely if and to the extent such disclosure is made for the purpose of reasonable and customary reporting to such Fund or Affiliated Fund or such existing or potential investor; provided that (A) such Fund or Affiliated Fund, as applicable, is subject to a confidentiality obligation with the disclosing Member or the Company obligating such Fund or Affiliated Fund to keep such Confidential Information confidential on terms no less favorable to the Company than those terms set forth in this Section 3.08 and (B) such existing or potential investor in such Fund or Affiliated Fund is subject to a customary confidentiality obligation with the disclosing Member (or such Fund or Affiliated Fund) obligating such existing or potential investor to keep such Confidential Information confidential; provided, further, that disclosures to existing or potential investors in any such Fund or Affiliated Fund shall be limited to the Company’s consolidated financial statements (or summaries thereof) and summary descriptions of the existing operations and performance of the business of the Company and its subsidiaries; and

(x) disclosures that a Member is legally compelled to make by deposition, interrogatory, request for documents, subpoena, civil investigative demand, order of a court of competent jurisdiction, or similar process, or otherwise by Law; provided that, prior to any such disclosure, such Member shall, to the extent legally permissible:

(A) provide the Company and the Managing Member with prompt written notice (email being sufficient) of such requirements so that the Company or one or more of the Members may seek, at its or their sole cost and expense, a protective order or other appropriate remedy or waive compliance with the terms of this Section 3.08(b)(x);

(B) consult with the Company and the Managing Member on the advisability of taking steps to resist or narrow such disclosure; and

(C) cooperate with the Company, the Managing Member, and the other Members in any attempt one or more of them may make, at its or their sole cost and expense, to obtain a protective order or other

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appropriate remedy or assurance that confidential treatment will be afforded to the Confidential Information; and in the event such protective order or other appropriate remedy is not obtained, or the other Members waive compliance with the provisions hereof, such Member agrees (1) to furnish only that portion of the Confidential Information that, on the advice of such Member’s internal or external counsel, such Member is legally required to disclose, and (2) to exercise reasonable efforts to obtain assurance that confidential treatment will be afforded to such Confidential Information.

(c) Each Member shall take such precautionary measures as may be reasonably required to ensure (and such Member shall be responsible for) compliance with this Section 3.08 by any of its Affiliates, and its and their directors, officers, managers, members, partners, employees, advisors, and agents, and any other Persons to which it may disclose Confidential Information in accordance with this Section 3.08.

(d) Promptly after a Member no longer holds any of its Membership Interest, such Person shall, at such Person’s option, destroy (and provide a written confirmation (email being sufficient) of destruction to the Company with respect to) or return to the Company all Confidential Information in its possession. Notwithstanding the immediately preceding sentence, but subject to the other provisions of this Section 3.08, such Person may retain, but not disclose to any other Person, Confidential Information for the limited purposes of (i) preparing such Member’s tax returns and defending audits, investigations, and proceedings relating thereto or (ii) complying with applicable Law or bona fide internal document retention policies; provided that such Person must keep such retained Confidential Information confidential in accordance with this Section 3.08 for so long as such information is retained or until the second (2^nd) anniversary of the end of the Term, whichever is earlier. The Members understand and agree that a Withdrawn Member’s computer systems may automatically back up Confidential Information, and to the extent that such computer back-up procedures create copies of the Confidential Information, the Withdrawn Member may retain such copies in its archival or back-up computer storage for the period it normally archives backed-up computer records; provided that such copies are kept confidential for so long as such information is retained. All Confidential Information retained pursuant to this Section 3.08 shall not be accessed by the Withdrawn Member during such period of retention other than as permitted under this Section 3.08.

(e) The Members agree that no adequate remedy at Law exists for a breach or threatened breach of any of the provisions of this Section 3.08, the continuation of which unremedied will cause the Company and the other Members to suffer irreparable harm. Accordingly, the Members agree that the Company and the other Members shall be entitled, in addition to other remedies that may be available to them, to immediate injunctive relief from any breach of any of the provisions of this Section 3.08 and to specific performance of their rights hereunder, as well as to any other remedies available at Law or in equity, pursuant to Section 11.03 and Section 11.04.

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(f) The obligations of the Members under this Section 3.08 (including the obligations of any Withdrawn Member) shall terminate on the second (2^nd) anniversary of the end of the Term.

ARTICLE 4

MEMBERSHIP INTERESTS; CAPITAL CONTRIBUTIONS; LOANS

4.01 Classes of Membership Interests. As of the Effective Date and pursuant to this Agreement, the Membership Interests in the Company consist of Class A Units (the “Class A Units”) and Class B Units (the “Class B Units”). As of the Effective Date, after giving effect to the transactions set forth in Section 4.03, the Class A Units and the Class B Units shall be held by the Class A Member and the Class B Member, respectively, in the respective amounts set forth on Exhibit A. On and after the Effective Date, the Membership Interests represented by Class A Units and Class B Units will have the respective allocations, distributions, rights, powers, and preferences set forth in this Agreement.

4.02 Additional Membership Interests. Subject to Section 6.03, additional Membership Interests of any class or series may be created and issued to existing Members or to other Persons, and such other Persons may be admitted to the Company as New Members, on such terms and conditions as the Managing Member may determine at the time of admission; provided that, for the avoidance of doubt, any foreclosure under a Class A Permitted Loan Financing on pledged Class A Units or Class B Units shall be permitted hereunder and the Managing Member shall, subject to Section 7.01(b), take all actions reasonably required to facilitate the admission of such New Members hereunder. The terms of admission or issuance must specify the amount of the initial Capital Contribution made to the Company (if any) and may provide for the creation of different classes or groups of Members having different rights, powers, and duties, subject to Section 6.03. Any such admission is effective only after the New Member has executed and delivered to the Managing Member an instrument containing the notice address of the New Member, the New Member’s ratification of this Agreement and agreement to be bound by it, and its confirmation that the representations and warranties in Section 3.02 are true and correct with respect to it. The provisions of this Section 4.02 shall not be construed to replace the restrictions set forth in Section 7.01.

4.03 Capital Contributions.

(a) Upon payment of the Class A Purchase Price to the Company by NEP Member and consummation of the closing under the Purchase Agreement, effective as of the Effective Date, the Limited Liability Company Interests (as that term is defined in the Initial LLC Agreement) of the Company, all of which are held by NEP Member, are hereby cancelled and exchanged for such number of Class A Units as is set forth opposite the name of NEP Member on Exhibit A hereto, NEP Member is hereby designated the initial Class A Member, and the initial Capital Account of NEP Member shall be equal to the Class A Purchase Price.

(b) Upon payment of the Class B Purchase Price to the Company by the GEPIF Investor and consummation of the closing under the Purchase Agreement, effective as of the Effective Date, (i) the GEPIF Investor shall be admitted to the Company as a Class B

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Member, (ii) the GEPIF Investor shall accept and hold the number of Class B Units set forth opposite the name of the GEPIF Investor on Exhibit A hereto and become the sole Class B Member, and (iii) the initial Capital Account of the GEPIF Investor shall be equal to the Class B Purchase Price. The schedule of Members attached hereto as Exhibit A shall reflect the Capital Contributions of NEP Member and the GEPIF Investor as of the Effective Date in the amounts set forth opposite their respective names on Exhibit A hereto (with respect to each Member, its “Effective Date Capital Contribution”), as such schedule may be amended hereafter in accordance with the terms of this Agreement.

(c) The Effective Date Capital Contributions will be used, together with the proceeds of the Tranche A Facility and the Tranche B Facility, to fund the acquisition of the Assets by subsidiaries of the Company pursuant to, and pay associated transaction fees incurred in connection with, the Meade Purchase and Sale Agreement.

4.04 Capital Calls.

(a) The Managing Member may from time to time make one or more capital calls by written notice (each such written request, a “Capital Call”), which Capital Call shall contain the following information: (i) the purpose for which the requested Capital Contribution will be used, including whether the Capital Contribution is to respond to a Transco Capital Call (including whether such Transco Capital Call is in respect of Project Costs for the Project, the Expansion Project, an Emergency, or otherwise), in which case a copy of such Transco Capital Call shall be included with such Capital Call, or to fund an Excess Claim Liability, a Meade Transfer Tax Liability, or otherwise, (ii) the total amount of Capital Contributions requested from all Members, (iii) the amount of Capital Contribution requested from the Member to whom the request is addressed, which shall equal the total amount of the Capital Call multiplied by such Member’s Unreturned Contribution Percentage as of the date of such Capital Call, and (iv) the date on which payments of the Capital Contributions are due (which date shall not be less than the earlier of twelve (12) Business Days following the date on which the Capital Call is given or, if applicable, one Business Day prior to the date on which such Transco Capital Call must be made by Meade Pipeline) and the method of payment (provided that such date and method shall be the same for each of the Members); provided that the Managing Member shall be obligated to make a Capital Call for Capital Contributions in response to a Transco Capital Call. Subject to Section 4.04(b) and Section 4.04(c), the Members will have the option (but not the obligation) to make such additional Capital Contributions to the Company in accordance with the terms specified in such Capital Call. With respect to any Capital Call made in response to Meade Pipeline’s receipt of a Transco Capital Call, the Company shall contribute to its appropriate subsidiaries, and shall cause such subsidiaries to contribute to Meade Pipeline, the amount of Capital Contributions received from the Members with respect thereto so that Meade Pipeline may fund its proportionate share of such Transco Capital Call. In exchange for any Capital Contribution made by a Member pursuant to this Section 4.04, such funding Member’s aggregate Capital Contributions and Capital Account shall be increased to reflect such Capital Contribution. Notwithstanding the foregoing, but subject to Section 12.02(a)(iv), no Member shall be required to make any additional Capital Contribution (other than such Member’s Effective Date Capital Contribution and other than the NEP Member’s obligations provided in Section 4.04(b) and

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Section 4.04(c)) to the Company pursuant to this Agreement, even if such Capital Call is requested to fund an Emergency.

(b) Solely with respect to Meade Pipeline’s receipt of a Transco Capital Call to fund the costs for the Expansion Project, the Managing Member shall make a corresponding Capital Call to the Members only if the principal amount then available to be drawn down under the Tranche C Facility is insufficient to satisfy Meade Pipeline’s required capital contribution pursuant to such Transco Capital Call, and such Capital Call shall be limited to an amount equal to the excess of Meade Pipeline’s proportionate share of such Transco Capital Call for the Expansion Project (as set forth in such Transco Capital Call) over the amount of the net proceeds received by Meade Pipeline under the Tranche C Facility to meet such Transco Capital Call. The Company shall contribute to its appropriate subsidiaries, and shall cause such subsidiaries to contribute to Meade Pipeline, the amount thereof so that Meade Pipeline may use such amount to fund its proportionate share of such Transco Capital Call (together with the proceeds from the Tranche C Facility received in respect of such Capital Call). NEP Member shall be required to make, and NEP shall cause NEP Member to make, a Capital Contribution to the Company in cash in the amount of NEP Member’s proportionate share (as determined pursuant to Section 4.04(a)) of such Transco Capital Call, and, to the extent any Class B Member opts not to make a Capital Contribution in its respective proportionate share of such Transco Capital Call, NEP Member shall be required to make, and NEP shall cause NEP Member to make, either a Capital Contribution in cash or a loan to the Company in an amount necessary to satisfy such Class B Member’s proportionate share of such Transco Capital Call or otherwise as will allow the Transco Capital Call to be satisfied in full. For the avoidance of doubt, the Tranche C Facility shall be the primary resource for the Company and its subsidiaries to use to satisfy any Transco Capital Call in respect of costs for the Expansion Project, and no Member shall be obligated to make any Capital Contribution in respect thereof unless sufficient funds are not available under the Tranche C Facility to satisfy such Transco Capital Call.

(c) In the event that the Company or any of its subsidiaries is required to make payment for any Pre-Closing Tax Liabilities, Meade Transfer Tax Liabilities, Excess Claim Liabilities, or Purchase Price Increase, the Managing Member shall send written notice to the Members of the amount thereof, with reasonable supporting detail regarding the nature of such liability. Within ten (10) Business Days following the date of any such notice, NEP Member shall be required to make, and NEP shall cause NEP Member to make, a Capital Contribution to the Company in cash in an amount equal to the amount of such Pre-Closing Tax Liability, Meade Transfer Tax Liability, Excess Claim Liability, or Purchase Price Increase, as applicable, and the Company shall use such amount to fund such Pre-Closing Tax Liability, Meade Transfer Tax Liability, Excess Claim Liability, or Purchase Price Increase, as applicable; provided, that with respect to any Capital Contribution made in respect of any Pre-Closing Tax Liabilities, NEP Member’s aggregate Capital Contributions and Capital Account shall not be increased to reflect such Capital Contribution.

4.05 Remedies upon Certain Defaults; Loans.

(a) Subject to Section 4.05(b) and Section 4.05(c), if, at any time, any Member fails to make a Capital Contribution to the Company pursuant to Section 4.04(a), each

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other Member that has made a Capital Contribution in response to the applicable Capital Call shall have the option (but not the obligation), without the consent of any other Member, to make, a Capital Contribution in cash or a loan to the Company (or, in the case of a loan, to the applicable subsidiary of the Company) in an amount up to the full amount necessary to satisfy the proportionate share of such Capital Call that is deficient; provided, however, that, if more than one Member wishes to satisfy the deficient Capital Contribution (whether by making a Capital Contribution or loan), such Members shall be permitted to satisfy the deficient Capital Contribution in proportion to their respective Unreturned Contribution Percentages as of the date of the applicable Capital Call.

(b) If, at any time, any Class B Member opts not to make a Capital Contribution in its respective proportionate share of a Transco Capital Call to fund the costs for the Expansion Project pursuant to Section 4.04(b), NEP Member shall have the option (but not the obligation), without the consent of any other Member, to make a loan to the Company (or, in the case of a loan, to the applicable subsidiary of the Company), rather than a Capital Contribution in cash to the Company pursuant to Section 4.04(b), in an amount necessary to satisfy such Class B Member’s proportionate share of such Transco Capital Call or otherwise as will allow the Transco Capital Call to be satisfied in full.

(c) If, at any time, a Monetary Default or a Credit Support Default occurs, the GEPIF Investor shall have the option (but not the obligation), without the consent of any other Member, to make a Capital Contribution in cash or loan to the Company (or, in the case of a loan, to the applicable subsidiary of the Company) in an amount up to the full amount necessary to satisfy or otherwise remedy such Monetary Default or Credit Support Default.

(d) If a Member elects to make a loan to the Company or a subsidiary of the Company pursuant to Section 4.05(a), Section 4.05(b), or Section 4.05(c), such loan shall (i) accrue interest from the date of such loan, at an interest rate equal to eleven percent (11.0%) per annum, (ii) have a term of not more than one (1) year, and (iii) require monthly payment of interest and amortization of principal before any distributions may be made to the Members pursuant to Article 5 or otherwise. To the extent the Company is unable to make any such monthly payment of interest and amortization of principal or to repay in full all principal and accrued interest under such loan upon maturity, such loan will continue to accrue and accumulate from and including the date on which such monthly payment was due or the maturity date of such loan, as applicable, until the date on which such monthly payment or such repayment in full of all principal and accrued interest, as applicable, is paid in full. The Managing Member shall cause the Company or such subsidiary, as applicable, to use the proceeds from any such loan solely to satisfy the obligations underlying, or otherwise remedy, such failure to make a Capital Contribution, Monetary Default, or Credit Support Default, as applicable. If any Member disputes the reasonableness of the terms of a loan made by another Member (including the Managing Member) pursuant to this Section 4.05, such Dispute shall be resolved in accordance with the dispute resolution mechanism set forth in Article 11.

(e) No Member shall have the right to make loans to the Company or its subsidiaries other than pursuant to this Section 4.05, without the prior written consent of the Managing Member and Class B Member Approval (which consent may be withheld by such

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holders in their sole discretion). No Member (or any of its Affiliates) making a loan to the Company pursuant to this Section 4.05 shall, in its capacity as a lender to the Company, institute or consent to the institution of, or otherwise seek or cause, the Bankruptcy of the Company.

4.06 No Other Capital Contribution or Loan Obligations. No Member shall be required or permitted to make any Capital Contributions or loans to the Company except pursuant to this Article 4 or as provided in Section 12.02(a)(iv).

4.07 Return of Contributions. Except as expressly provided herein, a Member is not entitled to the return of any part of its Capital Contributions or to be paid interest in respect of either its Capital Account or its Capital Contributions. An unrepaid Capital Contribution is not a liability of the Company or of any Member. A Member is not required to contribute or to lend any cash or property to the Company to enable the Company to return any Member’s Capital Contributions.

4.08 Capital Accounts. (a) Each Member’s Capital Account shall be increased by (i) the amount of money contributed by that Member to the Company, (ii) the fair market value of property contributed by that Member to the Company (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to under Section 752 of the Code), and (iii) allocations to that Member of Net Profit (or items thereof) and any items in the nature of income or gain that are specially allocated to such Member pursuant to Section 5.04(b), and shall be decreased by (w) the amount of money distributed to that Member by the Company, (x) the Book Value of property distributed to that Member by the Company (net of liabilities secured by such distributed property that such Member is considered to assume or take subject to under Section 752 of the Code), and (y) allocations to that Member of Net Losses (or items thereof) or other items in the nature of deductions or losses that are specially allocated to such Member pursuant to Section 5.04(b). A Member who has more than one Membership Interest shall have a single Capital Account that reflects all such Membership Interests, regardless of the class of Membership Interests owned by such Member and regardless of the time or manner in which such Membership Interests were acquired. Upon the Disposition of all or a portion of a Membership Interest, the Capital Account of the Disposing Member that is attributable to such Membership Interest shall carry over to the Assignee in accordance with the provisions of Treasury Regulation Section 1.704-1(b)(2)(iv)(l).

(b) This Section 4.08 is intended to comply with the capital account maintenance provisions of Treasury Regulations Section 1.704-1(b)(2)(iv) and will be applied and interpreted in accordance with such regulations.

ARTICLE 5

DISTRIBUTIONS AND ALLOCATIONS

5.01 Monthly Cash Distributions. Except as provided in this Article 5, within thirty (30) days following the end of each month, the Managing Member shall determine the amount of Available Cash with respect to such month, and all such Available Cash with respect to such month shall, to the extent legally permitted, including pursuant to Section 18-607 of the Act, be distributed to the holders of Class A Units and the holders of Class B Units, as applicable, in

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immediately available funds within thirty (30) days following the end of such month (the date of payment of any such distribution, a “Distribution Date”) as set forth below.

(a) For any Distribution Date occurring from and after the Effective Date, but prior to the earlier of [•], 2024,⁵ and the Flip Date, Available Cash shall be distributed (i) ninety-nine percent (99%) to the holders of Class A Units, pro rata in accordance with their respective Class A Percentage Interests, and (ii) one percent (1%) to the holders of Class B Units, pro rata in accordance with their respective Class B Percentage Interests.

(b) Subject to Section 5.01(c), for any Distribution Date occurring during the Distribution Adjustment Period, Available Cash shall be distributed (i) one percent (1%) to the holders of Class A Units, pro rata in accordance with their respective Class A Percentage Interests, and (ii) ninety-nine percent (99%) to the holders of Class B Units, pro rata in accordance with their respective Class B Percentage Interests; provided, however, that if, NEP Member (or its permitted assignees) has purchased, pursuant to one or more exercises of the Call Option, NEP Change of Control Option, or Class B COC Option, an aggregate of twenty-five percent (25%) or more of the number of Class B Units outstanding on the Effective Date on or prior to any given Distribution Date that occurs during the Distribution Adjustment Period (the “25% Condition”), then distributions of Available Cash shall be distributed on such Distribution Date (and on each succeeding Distribution Date within the Distribution Adjustment Period) in the same proportions as set forth in Section 5.01(a).

(c) For any Distribution Date occurring from and after the Flip Date, Available Cash shall be distributed (i) one percent (1%) to the holders of Class A Units, pro rata in accordance with their respective Class A Percentage Interests, and (ii) ninety-nine percent (99%) to the holders of Class B Units, pro rata in accordance with their respective Class B Percentage Interests.

(d) The aggregate number of Class B Units acquired by NEP Member (or its permitted assignees) pursuant to one or more exercises of the Call Option, NEP Change of Control Option, or Class B COC Option shall be measured separately on each Distribution Date. If, on any Distribution Date, NEP Class B Parties hold Class B Units, each such Person shall be entitled to receive its proportionate share of all distributions made to holders of Class B Units pursuant to this Section 5.01 in accordance with its Class B Percentage Interest in effect as of such Distribution Date.

5.02 Distributions of Amounts Other than Available Cash.

(a) The Managing Member shall determine the amount of any Sale Proceeds and Bankruptcy Recoveries received by the Company from time to time and, to the extent legally permitted, including pursuant to Section 18-607 of the Act, shall distribute any such amounts in immediately available funds, within thirty (30) days following the end of the month in which any such amounts are received by the Company, to the holders of Class A Units and Class B Units, (i)

⁵ NTD - To be the date that is sixty (60) months after the Effective Date.

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if prior to a Distribution Adjustment Date, pro rata in accordance with their respective Unreturned Contribution Percentages as of the date of such distribution until each Member’s Unreturned Contribution equals zero dollars ($0), and thereafter in accordance with the allocations of available proceeds provided under Sections 5.03(c) and Section 5.03(d), and (ii) if on or after a Distribution Adjustment Date, in accordance with the allocations of Available Cash provided under Section 5.01, as applicable.

(b) The Managing Member shall determine the amount of any payment of a Purchase Price Adjustment received by the Company from time to time and, to the extent legally permitted, including pursuant to Section 18-607 of the Act, shall distribute any such amounts in immediately available funds, within thirty (30) days following the end of the month in which any such amounts are received by the Company, to the holders of Class A Units, pro rata in accordance with their respective Class A Percentage Interests.

5.03 Distributions on Dissolution and Winding-Up. Upon a Dissolution Event, all available proceeds distributable to the Members as determined under Section 12.02 shall be distributed in the following order: (a) first, to each Member pro rata in accordance with the positive balance, if any, of such Member’s Capital Account (determined without regard to the allocations made pursuant to Section 12.02(b)), until each Member has received such positive balance, (b) second, to each Member based upon its respective Unreturned Contribution Percentage until the amount distributed to such Member, together with any amounts distributed pursuant to clause (a) of this Section 5.03, equals the aggregate Unreturned Contribution of such Member; (c) third, to the Class B Members (including, for the avoidance of doubt, NEP Class B Parties), pro rata in accordance with their respective Class B Percentage Interests, until such Class B Members have received distributions that results in an Internal Rate of Return to such Class B Members, together with any amounts distributed pursuant to clause (a) and clause (b) of this Section 5.03, measured from the Effective Date to the date of dissolution, of eleven percent (11%); provided, however, that the aggregate amount of distributions made to Class B Members other than the NEP Class B Parties pursuant to this clause (c) shall be reduced by an amount equal to (i) four percent (4%) of the total amount that would otherwise be distributed to such Class B Members pursuant to this clause (c), minus (ii) the aggregate amount of any reductions in the Call Option Purchase Price, Change of Control Purchase Price, or Class B COC Purchase Price provided to Class B Members pursuant to Section 7.02(e), Section 7.03(b)(iv) through Section 7.03(b)(vi), or Section 7.04(b)(iv) through Section 7.04(b)(vi), respectively, to the extent such amount is greater than zero; and (d) fourth, any and all remaining proceeds after payment of the amounts specified in clauses (a), (b), and (c) of this Section 5.03, to the Class A Members, pro rata in accordance with their respective Class A Percentage Interests. Notwithstanding anything in the preceding sentence to the contrary, any amounts otherwise distributable to the Class B Members pursuant to clause (b) or clause (c) of this Section 5.03 shall instead be distributed to the Class A Members, pro rata in accordance with their proportionate interest in the outstanding Class A Units, to the extent necessary to ensure that the aggregate amount distributable to the Class B Members pursuant to such clauses does not cause the total proceeds distributable to such Class B Members (as determined under Section 12.02) pursuant to this Section 5.03 to exceed ninety-nine percent (99%) of such proceeds.

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5.04 Allocations. (a) For purposes of maintaining the Capital Accounts pursuant to Section 4.08, except as provided in Section 5.04(b) or Section 12.02(b), for each Fiscal Year or other applicable period, including any Distribution Adjustment Allocation Period, the Net Profits and Net Loss of the Company, including each item of income, gain, loss, credit, and deduction, shall be allocated among the Members as follows:

(i) for the period from the Effective Date up to the first Distribution Adjustment Date and, if applicable, for any subsequent period during which Available Cash is required, pursuant to Section 5.01(b), to be distributed in the same proportions as set forth in Section 5.01(a) (any such period, a “99% Period”), ninety-nine percent (99%) in the aggregate to the Class A Members, pro rata in accordance with their respective Class A Percentage Interests, and one percent (1%) in the aggregate to the Class B Members, pro rata in accordance with their respective Class B Percentage Interests; and

(ii) for all periods beginning after a Distribution Adjustment Date, except any 99% Period, one percent (1%) in the aggregate to the Class A Members, pro rata in accordance with their respective Class A Percentage Interests, and ninety-nine percent (99%) in the aggregate to the Class B Members, pro rata in accordance with their respective Class B Percentage Interests.

The Managing Member may adopt any reasonable measures, conventions, and assumptions to give effect to the allocations required by this Section 5.04 for any Distribution Adjustment Allocation Period.

(b) Notwithstanding anything to the contrary in Section 5.04(a):

(i) Nonrecourse Deductions shall be allocated to the Members in the same proportions as the allocations of Net Profits and Net Loss were made for the Fiscal Year or other applicable period pursuant to Section 5.04(a).

(ii) Member Nonrecourse Deductions attributable to Member Nonrecourse Debt shall be allocated to the Members bearing the Economic Risk of Loss for such Member Nonrecourse Debt as determined under Treasury Regulation Section 1.704-2(b)(4). If more than one Member bears the Economic Risk of Loss for such Member Nonrecourse Debt, the Member Nonrecourse Deductions attributable to such Member Nonrecourse Debt shall be allocated among the Members according to the ratio in which they bear the Economic Risk of Loss. This Section 5.04(b)(ii) is intended to comply with the provisions of Treasury Regulation Section 1.704-2(i) and shall be interpreted consistently therewith.

(iii) Notwithstanding any other provision hereof to the contrary, if there is a net decrease in Minimum Gain for an allocation period (or if there was a net decrease in Minimum Gain for a prior allocation period and the Company did not have sufficient amounts of income and gain during prior periods to allocate among the Members under this Section 5.04(b)(iii)), items of income and gain shall be allocated to each Member in an amount equal to such Member’s share of the net decrease in such Minimum Gain (as

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determined pursuant to Treasury Regulation Section 1.704-2(g)(2)). This Section 5.04(b)(iii) is intended to constitute a minimum gain chargeback under Treasury Regulation Section 1.704-2(f) and shall be interpreted consistently therewith.

(iv) Notwithstanding any provision hereof to the contrary except Section 5.04(b)(iii) (dealing with Minimum Gain), if there is a net decrease in Member Nonrecourse Debt Minimum Gain for an allocation period (or if there was a net decrease in Member Nonrecourse Debt Minimum Gain for a prior allocation period and the Company did not have sufficient amounts of income and gain during prior periods to allocate among the Members under this Section 5.04(b)(iv)), items of income and gain shall be allocated to each Member in an amount equal to such Member’s share of the net decrease in Member Nonrecourse Debt Minimum Gain (as determined pursuant to Treasury Regulation Section 1.704-2(i)(4)). This Section 5.04(b)(iv) is intended to constitute a partner nonrecourse debt minimum gain chargeback under Treasury Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith.

(v) Notwithstanding any provision hereof to the contrary except Section 5.04(b)(i) and Section 5.04(b)(ii), no losses or other items of expense shall be allocated to any Member to the extent that such allocation would cause such Member to have a deficit Capital Account balance (or increase any existing deficit Capital Account balance) at the end of the allocation period in excess of the amount such Member is required to restore pursuant to Section 12.02(a)(iv). All losses and other items expense in excess of the limitation set forth in this Section 5.04(b)(v) shall be allocated to the Members who do not have a deficit Capital Account balances in excess of the amount such Member is required to restore pursuant to Section 12.02(a)(iv) in proportion to their relative positive Capital Accounts but only to the extent that such losses and other items of expense do not cause any such Member to have a deficit Capital Account balance in excess of the amount such Member is required to restore pursuant to Section 12.02(a)(iv).

(vi) If any Member unexpectedly receives any adjustments, allocations or distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5), or (6) resulting in a Capital Account deficit for such Member in excess of the amount such Member is required to restore pursuant to Section 12.02(a)(iv), items of income and gain will be specially allocated to such Member in any amount and manner sufficient to eliminate, to the extent required by the Treasury Regulations, such Capital Account deficit of the Member as quickly as possible; provided, however, that an allocation pursuant to this Section 5.04(b)(vi) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of the amount such Member is required to restore pursuant to Section 12.02(a)(iv) after all other allocations provided for in this Article 5 have been tentatively made as if this Section 5.04(b)(vi) were not in this Agreement. The items of income or gain to be allocated will be determined in accordance with Treasury Regulations Section 1.704-1(b)(2)(ii)(d). This subsection (vi) is intended to comply with Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and will be applied and interpreted in accordance with such Regulations.

(vii) The allocations set forth in Section 5.04(b)(i) through

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Section 5.04(b)(vi) (the “Regulatory Allocations”) are intended to comply with certain requirements of Treasury Regulation Sections 1.704-1(b) and 1.704-2. The Regulatory Allocations may not be consistent with the manner in which the Members intend to distribute the cash of the Company or allocate Company income or loss. Accordingly, the Managing Member is hereby authorized to allocate items of income, gain, loss, and deduction to the Members so as to prevent the Regulatory Allocations from distorting the manner in which cash is distributed among the Members. In general, the Members anticipate that this will be accomplished by specially allocating other items of income, gain, loss and deduction to the Members so that, to the extent possible, the net amount of such allocations and the Regulatory Allocations to the Members shall be equal to the net amount that would have been allocated among the Members if the Regulatory Allocations had not occurred. However, the Managing Member shall have discretion to accomplish this result in any reasonable manner, and in exercising this discretion, the Managing Member shall take into account future Regulatory Allocations under Section 5.04(b) that, although not yet made, are likely to offset other Regulatory Allocations previously made thereunder.

(c) To the maximum extent possible, except as otherwise provided in this Section 5.04(c), all items of Company income, gain, loss, and deduction for federal income tax purposes shall be allocated among the Members for such purposes in the same manner in which the corresponding items computed for Capital Account purposes are allocated pursuant to Section 5.04(a) and Section 5.04(b). Income, gain, loss, and deduction with respect to property contributed to the Company by a Member or revalued pursuant to clause (b) of the definition of “Book Value” shall be allocated among the Members in a manner that take into account the variation between the adjusted tax basis of such property and its Book Value as required by Section 704(c) of the Code and Treasury Regulation Section 1.704-1(b)(4)(i).

5.05 Varying Interests. All items of income, gain, loss, deduction, or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, in the event a Member Disposes of a Membership Interest during a Fiscal Year, the Net Profits or Net Loss of the Company, and each item of income, gain, loss, credit, and deduction, allocated to such Member and its Assignee for such Fiscal Year or other applicable period will be made between such Member and its Assignee in accordance with Section 706 of the Code using any convention permitted by Section 706 of the Code and selected by the Managing Member.

5.06 Amounts Withheld. The Company is authorized to withhold from payments and distributions to the Members and to pay over to any federal, state, or local Governmental Authority any amounts required to be so withheld pursuant to the Code or any provisions of any other applicable Law and shall allocate such amounts to the Members with respect to which such amounts were withheld. All amounts withheld pursuant to the Code or any provisions of any other applicable Law with respect to any payment, distribution, or allocation to the Company or the Members shall, to the extent properly remitted to the appropriate Governmental Authority, be treated for all purposes under this Agreement as amounts paid or distributed pursuant to this Article 5 to the Members with respect to which such amount was withheld. To the extent

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operation of the foregoing provisions of this Section 5.06 would create a negative balance in a Member’s Capital Account (or increase the amount by which such Capital Account balance is negative), such Member shall indemnify the other Members and the Company for such withholding.

ARTICLE 6

MANAGEMENT

6.01 Management by Managing Member.

(a) Subject to Section 6.01(b) and Section 6.03, the business and affairs of the Company shall be managed by the Managing Member, and NEP Member is hereby appointed by the Members as the initial Managing Member of the Company. Subject to Section 6.01(b), the Class A Member(s) shall have the right to designate a successor Managing Member; provided that, in the event that there is more than one Class A Member, such successor Managing Member shall be selected by the holders of a majority of the outstanding Class A Units; provided, further, that, except as provided in Section 6.01(b), the Person appointed to serve as successor Managing Member must be an Affiliate of NEP.

(b) At any time from and after a Triggering Event, (i) the Class B Member Representative shall have the right, but not the obligation, to remove the Managing Member and designate a successor Managing Member (provided that such successor Managing Member shall then own Class B Units and, if the GEPIF Investor or an Affiliate of the GEPIF Investor then owns Class B Units, shall be the GEPIF Investor or an Affiliate of the GEPIF Investor) and (ii) such successor Managing Member shall manage the business and affairs of the Company pursuant to the terms of this Agreement (subject to Section 6.03) and, notwithstanding anything in this Agreement to the contrary, shall have the right to cause the Company to terminate any Affiliate Transaction then in effect. Notwithstanding the foregoing, in the event that NEP Member (or its Affiliate) is the operator of record of the Project at the Federal Energy Regulatory Commission (or any successor Governmental Authority) at the time a Triggering Event resulting from a Major NEP Default occurs, so long as any amounts remain outstanding under the Term Loan Agreement, the Class B Member Representative shall not remove the NEP Member (or its Affiliate) as the operator of record of the Project until such time as the Class B Member Representative, at its discretion, replaces NEP Member (or its Affiliate) as the operator of record of the Project with another Person who has sufficient experience, financial capability and other qualifications to operate the Project that is approved by the Required Lenders (as defined in the Term Loan Agreement).

(c) Except as provided in Section 6.03, Section 6.04, or as otherwise expressly provided herein, the Managing Member shall have full and exclusive power and authority on behalf of the Company to conduct, direct, and exercise control over all activities of the Company, to manage and administer the business and affairs of the Company, and to do or cause to be done any and all acts considered by the Managing Member to be necessary or appropriate to conduct the business of the Company, including the authority to bind the Company in making contracts and incurring obligations in the Company’s name in the course of the Company’s business, without the need for approval by or any other consent from any other

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Member. Except to the extent that a Member is also the Managing Member or authority is delegated from the Managing Member to such Member, no Member will have any authority to bind the Company or to transact any business for the Company. The Managing Member may delegate to one or more Persons all or any part of its power and authority as Managing Member hereunder, including, subject to Section 6.03(q) and Section 6.04, pursuant to any management services agreement the Company may enter into with any Affiliate of the Company, except for such power and authority with respect to Major Decisions or other matters expressly requiring a vote by or consent of the Members pursuant to this Agreement, which will be expressly retained by the Members.

6.02 Standard of Care.

(a) Except for those duties expressly set forth in this Agreement, to the fullest extent permitted by Section 18-1101(c) of the Act, neither the Managing Member nor any other Member shall have any duties or liabilities, including fiduciary duties, to the Company or any other Member, and the provisions of this Agreement, to the extent that they restrict or eliminate the duties and liabilities, including fiduciary duties, of the Managing Member or any other Member otherwise existing at Law or in equity, are agreed by the Members to modify, to such extent, such duties and liabilities of the Managing Member and such other Members. Notwithstanding the foregoing, nothing herein shall eliminate or limit (i) the express contractual provisions set forth herein or (ii) the implied contractual covenant of good faith and fair dealing.

(b) Each Member acknowledges its express intent, and agrees with each other Member for the mutual benefit of all the Members, that, except as expressly set forth in this Agreement:

(i) to the fullest extent permitted by applicable Law, no Member, in its capacity as Member, nor any of such Member’s or any of its Affiliates’ respective directors, officers, stockholders, managers, members, partners, employees, or agents shall have any fiduciary duty to the Company, any other Member, or any other Person in connection with the business and affairs of the Company or any consent or approval given or withheld pursuant to this Agreement; provided, however, that nothing herein shall eliminate the implied contractual covenant of good faith and fair dealing; and

(ii) the provisions of this Section 6.02 will apply for the benefit of each Member, and no standard of care, duty, or other legal restriction or theory of liability shall limit or modify the right of any Member to vote in the manner determined by such Member in its sole and absolute discretion, with or without cause, subject to such conditions as it shall deem appropriate, and without taking into account the interests of, and without incurring liability to, the Company, any other Member, or any officer or employee of the Company.

(c) To the maximum extent permitted by applicable Law but except as expressly set forth in this Agreement, each Member hereby releases and forever discharges each other Member and its Affiliates from all liabilities that such other Member or its Affiliates might owe, under the Act or otherwise, to the Company, the releasing Member, or its Affiliates on the

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ground that any decision of such other Member to grant or withhold any vote, consent, or approval constituted the breach or violation of any standard of care, any fiduciary duty, or any other legal restriction or theory of liability applicable to such other Member or its Affiliates; provided, however, that nothing herein shall eliminate any Member’s liability for any act or omission that constitutes a bad faith violation of the implied contractual covenant of good faith and fair dealing. Notwithstanding anything in this Agreement to the contrary, nothing in this Section 6.02 shall limit or waive any claims against, actions, rights to sue, other remedies, or other recourse of the Company, any Member, or any other Person may have against any Member for a breach of contract claim relating to any binding agreement, including this Agreement.

(d) Notwithstanding the foregoing or any other provision of this Agreement to the contrary, whenever the Managing Member makes a determination or takes or declines to take (or causes or permits a subsidiary of the Company to take or decline to take) any other action, in its capacity as such as opposed to in its individual capacity, then, unless another express standard is provided for in this Agreement, the Managing Member shall make such determination or take or decline to take (or cause or permit a subsidiary of the Company to take or decline to take) such other action in good faith and shall not be subject to any other or different standards (including fiduciary standards) imposed by this Agreement. A determination or other action or inaction will conclusively be deemed to be in “good faith” for all purposes of this Agreement, if the Managing Member in making such determination or taking or declining to take (or causing or permitting a subsidiary of the Company to take or decline to take) such other action (i) reasonably believes that the determination or other action or inaction is in the best interests of the Company and its subsidiaries and (ii) does not take or decline to take (or cause or permit a subsidiary of the Company to take or decline to take) such action with intent to benefit any other business now owned or hereafter acquired by the Managing Member or any of its Affiliates to the detriment of the Company and its subsidiaries.

(e) Without limiting the foregoing, the Managing Member shall, and shall carry out its obligations hereunder, in accordance with all Laws and requirements of this Agreement.

6.03 Major Decisions. The Company and its subsidiaries shall not, and the Managing Member shall cause the Company and its subsidiaries not to, take any action (including by the exercise or non-exercise of the Company’s direct or indirect approval rights in any other entity in which the Company directly or indirectly owns an interest) under this Section 6.03 (collectively, the “Major Decisions”) without having first obtained Class B Member Approval (which consent, except as may be expressly provided below in this Section 6.03, may be withheld by such holders in their sole discretion); provided, however, that if the Managing Member is removed by the Class B Member Representative and a successor Managing Member is designated, each pursuant to and in accordance with Section 6.01(b), then (y) so long as the Managing Member was not removed pursuant to Section 6.01(b) as a result of a Major NEP Default, each Major Decision shall require the approval of NEP Member (which consent, except as may be expressly provided below in this Section 6.03, may be withheld by the NEP Member in its sole discretion), except that the approval of NEP Member shall not be required for any Major Decision set forth in clauses (d), (f) (unless the applicable action would disproportionately adversely affect any Class A Member’s rights under this Agreement (as compared to other Members)), (i) (but only

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with respect to Encumbrances (and Dispositions upon foreclosure thereon) in connection with Indebtedness), (j) (unless the applicable action would disproportionately adversely affect any Class A Member’s rights under this Agreement (as compared to other Members)), or (k) (but only with respect to Expansions) of this Section 6.03; provided that, from and after the tenth (10^th) anniversary of the Effective Date, and solely in connection with any Liquidity Event, the approval of NEP Member shall not be required for any Major Decision set forth in clause (a) (other than amendments or waivers that disproportionately adversely affect any Class A Member’s rights under this Agreement (as compared to other Members)) or clauses (e), (i), or (l) of this Section 6.03) and (z) if the Managing Member was removed pursuant to Section 6.01(b) as a result of a Major NEP Default, then the approval of the NEP Member shall not be required for any Major Decision, other than the Major Decisions set forth in clause (a) (but only those amendments or waivers that disproportionately adversely affect any Class A Member’s rights under this Agreement (as compared to other Members)), clauses (b), (c), (f) (but only if the applicable action would disproportionately adversely affect any Class A Member’s rights under this Agreement (as compared to other Members)), (e), (g), (k) (but only with respect to the entrance into a new line of business), (m), or clause (q) (in each case, which consent may not be unreasonably withheld, conditioned, or delayed):

(a) amend or waive any provisions of the Delaware Certificate, this Agreement, or the organizational documents of any subsidiary of the Company in a manner that adversely affects the Class B Members’ interest or Class A Members’ interest in the Company or indirect interest in any subsidiary of the Company;

(b) alter or change the rights, preference, or privileges of the Class B Units or the Class A Units;

(d) incur Indebtedness other than (i) the Meade Permitted Indebtedness, (ii) loans pursuant to Section 4.05, and (iii) any refinancing, restatement, amendment, supplement, extension, restructuring, or replacement financing for the Tranche A Facility, Tranche B Facility, or Tranche C Facility prior to the maturity of the Term Loan Agreement, in each case, having an aggregate principal balance as of the date thereof in an amount not greater than the outstanding and unpaid principal on the balance of the Tranche A Facility, Tranche B Facility, or Tranche C Facility, as applicable, as of the date thereof; provided that the terms of any such refinancing, restatement, amendment, supplement, extension, restructuring, or replacement financing shall require the prior written approval of the Class B Members (which consent shall not be unreasonably withheld, conditioned, or delayed (it being understood and agreed that such consent shall not be deemed unreasonably withheld if the terms of any such refinancing, restatement, amendment, supplement, extension, restructuring, or replacement financing (A) are not consistent with, and not as favorable to the Company and its subsidiaries as, the provisions of the Term Loan Agreement or (B) contemplates or otherwise permits the extraordinary distribution of any proceeds to any of the Members, or any of their respective Affiliates));

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(e) provide for the payment of any dividend or distribution on, or the redemption or repurchase of, any equity security of the Company, except as expressly contemplated by this Agreement;

(f) authorize or issue any new or additional Class A Units, Class B Units, or other equity interests of the Company or any of its subsidiaries;

(g) change the entity form, dissolve, or liquidate the Company or any of its subsidiaries, or take any voluntary action to become Bankrupt (including any actions under Article 12 hereof) or agree to become Bankrupt;

(h) purchase, rent, license, exchange, or otherwise acquire any material assets;

(i) Dispose of or Encumber in any transaction or series of related transactions, (i) any asset that is material to the Company and its subsidiaries or any assets that, in the aggregate, are material to the Company and its subsidiaries, other than Encumbrances incurred on the Effective Date in connection with any Meade Permitted Indebtedness or (ii) any equity interests in the Company or any of its subsidiaries, other than Dispositions expressly permitted by Article 7, or otherwise take any action that would result in Sale Proceeds;

(j) change any of its distribution policies, enter into any contract that prohibits or restricts distributions, or create any cash reserves in excess of the cash reserves permitted in the first sentence of the definition of Available Cash under this Agreement;

(k) enter into a new line of business or pursue any Expansion (other than the Expansion Project);

(l) enter into, amend, modify, terminate, waive any provision of, or exercise any rights or remedies under, (i) any contract or any acquisition or divestiture (including by merger or consolidation), joint venture, or partnership agreement that is in excess of one million U.S. dollars ($1,000,000) or (ii) any of the Williams Agreements;

(m) make or amend any tax election or allocation with respect to the Company or its subsidiaries in a way that would materially and adversely affect the Class B Units or Class A Units (including changing the Company’s tax treatment as a partnership for U.S. federal tax purposes);

(n) commence, settle, terminate, or fail to pursue any litigation, proceeding, governmental or regulatory action, or other Claim or dispute resolution proceeding reasonably expected to involve the payment by the Company or its subsidiaries of more than one million U.S. dollars ($1,000,000) individually or five million U.S. dollars ($5,000,000) in the aggregate, or settle any Claim that materially restricts the business of the Company or any of its subsidiaries (which consent shall not be unreasonably withheld, conditioned, or delayed);

(o) accelerate, delay, defer, or otherwise modify any payments, payables, receivables, or policies relating to any of the foregoing, other than in the ordinary course of

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business consistent with past practice and the policies of the Company and its subsidiaries (which consent shall not be unreasonably withheld, conditioned, or delayed);

(p) adopt or amend any hedging plan or enter into, modify, or terminate any hedging arrangements outside any agreed hedging plan (which consent shall not be unreasonably withheld, conditioned, or delayed);

(q) other than (i) Capital Calls pursuant to Section 4.04(a) in respect of a Transco Capital Call, (ii) Capital Calls pursuant to Section 4.04(b) or Section 4.04(c) and (iii) Member loans pursuant to Section 4.05, enter into, amend, modify, renew, fail to renew, terminate, waive any provision of, or exercise any rights or remedies under, any Affiliate Transaction that is not on arm’s length terms and in the ordinary course of business (which consent shall not be unreasonably withheld, conditioned, or delayed); or

(r) agree to take any of the foregoing actions.

6.04 Affiliate Transactions. Notwithstanding anything to the contrary in this Agreement, but, without limiting the rights of the Class B Members or NEP Member, as applicable, to consent pursuant to Section 6.03, the taking of any action, or failure to take any action, by the Company or any of its subsidiaries in the Company’s or such subsidiary’s capacity as a party to an Affiliate Transaction in connection with (a) any amendment, modification, extension, renewal, election, notice, or consent by the Company or any of its subsidiaries under any Affiliate Transaction, (b) a breach, default, indemnity, or other Claim (or alleged breach, default, indemnity, or other Claim) by the Company or any of its subsidiaries against a counterparty to an Affiliate Transaction or by a counterparty to an Affiliate Transaction against the Company or any of its subsidiaries (including a waiver of the breach or default, notice of breach or default, or notice of termination for breach or default in accordance with the terms of the Affiliate Transaction), or (c) the enforcement or exercise of, or failure to enforce or exercise, any of the Company’s or any of its subsidiaries’ rights or remedies in respect to such election, notice, or consent, or breach, default, indemnity, or other Claim (or alleged breach, default, indemnity, or other Claim) shall, only after the Class B Members (if NEP Member is the Managing Member) or NEP Member (if NEP Member has been removed as Managing Member pursuant to Section 6.01(b)) and the Managing Member cooperate in good faith to resolve any disputes among them arising out of or in connection with any of the foregoing, be conducted by or under the direction of the Class B Member Representative (if NEP Member is the Managing Member) or NEP Member (if NEP Member has been removed as Managing Member pursuant to Section 6.01(b)), as applicable, in consultation with the Managing Member, and neither the Company nor any of its subsidiaries shall, and the Managing Member shall not cause the Company or any of its subsidiaries to, take or fail to take any actions in respect of any of the foregoing without the consent of the Class B Member Representative (if NEP Member is the Managing Member) or NEP Member (if NEP Member has been removed as Managing Member pursuant to Section 6.01(b)), as applicable. The advisors, consultants, and other representatives retained by the Company or any of its subsidiaries in connection with any matter subject to this Section 6.04 shall be selected by the Class B Member Representative (if NEP Member is the Managing Member) or NEP Member (if NEP Member has been removed as Managing Member pursuant to Section 6.01(b)), as applicable, in its reasonable discretion, and the reasonable,

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documented out-of-pocket fees, costs, and expenses of any such advisors, consultants, or representatives so selected by the Class B Member Representative or NEP Member, as applicable, shall be borne by the Company.

6.05 Officers. The Managing Member may from time to time as it deems advisable appoint officers of the Company to act on behalf of the Company and assign in writing titles (including president, vice president, secretary, and treasurer) to any such person, and any such assignment of such title shall constitute the delegation to such person of the authorities and duties that are normally associated with such title. Each such officer shall hold office until his successor shall have been duly appointed or until his death, resignation, or removal. Any such officer may be removed by the Managing Member at any time for any reason, with or without cause, in its sole discretion. Any new or replacement officer shall be duly appointed in writing by the Managing Member. All officers shall serve at the discretion of and subject to the direction of the Managing Member. The Managing Member shall be responsible for the actions or inactions of the officers of the Company to the same extent as the Managing Member would be responsible if such actions and inactions were taken by the Managing Member. Each person listed below is hereby appointed to the office set forth opposite such person’s name, to serve until such person’s successor shall have been duly appointed or until such person’s earlier death, resignation, or removal:⁶



Name	Title
John W. Ketchum	President
Kathy A. Beilhart	Vice President & Treasurer
Terrell Kirk Crews II	Vice President
Paul I. Cutler	Vice President
Daniel Gerard	Vice President
Mark E. Hickson	Vice President
Michael O’Sullivan	Vice President
Michael Sheehan	Vice President
Melissa A. Plotsky	Secretary
W. Scott Seeley	Assistant Secretary

6.06 Business Opportunities.

(a) Except with respect to Expansions, each Member, including the Managing Member, and each Affiliate of a Member may engage in and possess interests in business ventures of any and every type and description, independently or with others, including ones in competition with the Company, with no obligation to offer to the Company, any other Member, or any Affiliate of another Member the right to participate therein. Subject to Section 6.03(q), the Company may transact business with any Member or Affiliate thereof, and no Affiliate of a

⁶ NTD - List of Officers to be confirmed.

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Member shall be restricted in its right to conduct, individually or jointly with others, for its own account any business activities. No Member or its Affiliates shall have any duty or obligation, express or implied, fiduciary or otherwise, to account to, or to share the results or profits of such business activities with, the Company, any other Member, or any Affiliate of any other Member, by reason of such business activities. The provisions of this Section 6.06 constitute an agreement to modify or eliminate, as applicable, fiduciary duties pursuant to the provisions of Section 18-1101 of the Act.

(b) In furtherance of the foregoing, but subject to Section 6.03, each Member:

(i) renounces in advance each and every interest or expectancy it or any of its Affiliates might be considered to have under the Act, at common law or in equity, by reason of its membership in the Company in any business opportunity, or in any opportunity to participate in any business opportunity, in any business or industry in which any other Member or its Affiliates now or in the future engages, that is presented to the Company, to any other Member, to any of their respective Affiliates, or to any present or future partner, member, director, officer, manager, supervisor, employee, agent, or representative of the Company or of any other Member or any of their respective Affiliates; and

(ii) waives and consents to the elimination of any fiduciary or other duty, including any duty of loyalty, that any other Member or any of its Affiliates might be considered to owe to the waiving Member, at common law or in equity, by reason of the waiving Member’s membership in the Company, to offer to the Company or the waiving Member or any of its Affiliates any such business opportunity, or in any such opportunity to participate in any such business opportunity.

(i) renounces in advance each and every interest or expectancy it might be considered to have under the Act, at common law, or in any business opportunity, or in any opportunity to participate in any business opportunity, in any business or industry in which any Member or any of its Affiliates now or in the future engages, which is presented to such Member or any of its Affiliates or to any present or future partner, member, director, officer, manager, supervisor, employee, agent, or representative of such Member or any of its Affiliates; and

(ii) waives and consents to the elimination of any fiduciary or other duty, including any duty of loyalty, that any Member or any of its Affiliates might be considered to owe to the Company, at common law or in equity, by reason of such Member’s membership in the Company, to offer to the Company any such business opportunity, or in any such opportunity to participate in any such business opportunity.

6.07 Insurance Coverage. The Managing Member shall cause the Company to acquire and maintain casualty, general liability (including product liability), property damage, and other types of insurance as the Managing Member may deem necessary or appropriate in its

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reasonable discretion and as is consistent with applicable industry standards for the industry in which the Company and its subsidiaries operate, or as otherwise maintained by, or required to be maintained by, the Company and its subsidiaries in connection with the business of the Company and its subsidiaries (it being understood and agreed that Transco is required to carry and maintain insurance on the Project pursuant to the Meade Construction and Ownership Agreement such that the Managing Member shall not be required to cause the Company to carry or maintain any such insurance policy so long as Transco is so carrying and maintaining such insurance).

6.08 Exculpation and Indemnification.

(a) To the fullest extent permitted by Law, each Member (including the Managing Member), each present and former officer of the Company, and each present and former Affiliate of a Member, and each of their respective present and former officers, directors, stockholders, partners, members, managers, employees, Affiliates, representatives, and agents, and their respective successors, heirs, and legal and personal representatives (each, a “Covered Person”) shall have no liability to the Company, any Member, or any other Person and is hereby exculpated from any liability arising out of or relating to the Company, its business, assets, properties, subsidiaries, or liabilities or any act or omission performed or omitted by such Covered Person in relation thereto; provided, however, that the foregoing shall not eliminate any Covered Person from liability resulting from fraud, gross negligence, or the willful misconduct of such Covered Person, a breach of the express provisions this Agreement, or a bad faith breach of the implied contractual covenant of good faith and fair dealing. Notwithstanding the foregoing, nothing in this Section 6.08 shall be deemed to impose fiduciary duties on any Member or otherwise modify or limit the standard of care set forth in Section 6.02.

(b) To the fullest extent permitted by Law, the Company shall indemnify and hold harmless each Covered Person from and against any and all Claims in which such Covered Person may be involved, or threatened to be involved, as a party or otherwise, arising out of or relating to the Company, its business, assets, properties, subsidiaries, or liabilities or any act or omission performed or omitted by such Covered Person in relation thereto; provided, however, that no Covered Person shall be entitled to indemnification under this Section 6.08(b) with respect to any Claim to the extent (i) resulting from fraud, gross negligence, or the willful misconduct of such Covered Person, a breach of the express provisions of this Agreement, or a bad faith breach of the implied contractual covenant of good faith and fair dealing or (ii) initiated by such Covered Person unless such Claim (or part thereof) (A) was brought to enforce such Person’s rights to indemnification hereunder or (B) was authorized or consented to by the Managing Member in connection with Claims brought against such Covered Person by Persons that are not the Company (or any of its subsidiaries) or Affiliates of the Company or any of its subsidiaries. Expenses incurred by a Covered Person in defending any Claim shall be paid by or on behalf of the Company in advance of the final disposition of such Claim upon receipt by the Company of an undertaking by or on behalf of such Covered Person to repay such amount if it shall be ultimately determined that such Covered Person is not entitled to be indemnified by the Company as authorized by this Section 6.08(b).

(c) The Company acknowledges and agrees that the obligation of the Company under this Agreement to indemnify or advance expenses to any Covered Person for the

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matters covered hereby shall be the primary source of indemnification and advancement for such Covered Person in connection therewith, and any obligation on the part of any other indemnitor under any other agreement to indemnity or advance expenses to such Covered Person shall be secondary to the Company’s obligation and shall be reduced by any amount that such Covered Person may collect as indemnification or advancement from the Company. Subject to the foregoing, the Company shall be subrogated to the rights of such Covered Person against, and shall be entitled to seek contribution from, any third party, including any insurance company, that is not an Affiliate of any Member (or any insurance policy covering such Member or its Affiliates) to recover the amount of such indemnification (or such portion thereof as to which the Company shall be entitled to contribution) after the Covered Person shall have been fully and completely indemnified (whether pursuant to this Agreement or otherwise) in respect of the Claim which gave rise to such indemnification. Any such Covered Person shall fully cooperate with the Company, at the Company’s expense, in its efforts to enforce against any such third party the rights to which it is so subrogated.

(d) The Company, as an indemnifying party from time to time, agrees that, to the fullest extent permitted by applicable Law, its obligation to indemnify Covered Persons under this Agreement shall apply to any amounts expended by any other indemnitor under any other agreement in respect of indemnification or advancement of expenses to any Covered Person in connection with any Claims to the extent such amounts extended by such other indemnitor are on account of any unpaid indemnity amounts hereunder.

(e) The right of any Covered Person to the indemnification provided herein is cumulative of, and in addition to, any and all rights to which such Covered Person may otherwise be entitled by contract or as a matter of Law or equity, and extend to such Covered Person’s successors, assigns, and legal representatives.

(f) If this Section 6.08 or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction or properly constituted arbitration panel, then the Company shall nonetheless, to the fullest extent permitted by applicable Law, indemnify and hold harmless each Person entitled to be indemnified pursuant to this Section 6.08 as to liabilities to the full extent permitted by any applicable portion of this Section 6.08 that shall not have been invalidated.

6.09 Credit Support.

(a) NEP shall and shall cause its applicable Affiliates to (i) maintain in full force and effect, to the extent and for such period of time and in such amount as is required by the Term Loan Agreement, (ii) perform all of its obligations under or in respect of, and (iii) pay all related fees in connection with, each of (A) the Tranche A Credit Support, (B) the Tranche B Credit Support, and (C) the Tranche C Credit Support.

(b) In the event that any refinancing, restatement, amendment, supplement, extension, restructuring, or replacement financing of all or any of the Tranche A Facility, Tranche B Facility, or Tranche C Facility permitted pursuant to Section 6.03(d) (a “Permitted Refinancing”) would not generate sufficient proceeds to repay in full the amounts due under the

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Tranche A Facility, Tranche B Facility and/or the Tranche C Facility, as the case may be, upon the cancellation and return of the Tranche A Credit Support, the Tranche B Credit Support, and/or the Tranche C Credit Support, as applicable, NEP agrees to contribute an amount to the repayment of the Tranche A Facility, the Tranche B Facility, and/or the Tranche C Facility, as the case may be, up to but not exceeding the amount of the Tranche A Credit Support, the Tranche B Credit Support, and/or the Tranche Credit Support, so cancelled and returned, so as to permit the consummation of such Permitted Refinancing.

(c) In the event that (i) NEP fails to perform or fulfill its obligations under this Section 6.09, (ii) an Event of Default (as defined in the Term Loan Agreement) occurs (or would have occurred but for the taking of any Class B Cure Actions) in respect of (x) any failure to provide, maintain or comply with any Tranche A Credit Support, Tranche B Credit Support, or Tranche C Credit Support (or with the requirements of the Financing Documents in respect of such Tranche A Credit Support, Tranche B Credit Support, or Tranche C Credit Support) or (y) any failure to replace any Tranche A Credit Support, Tranche B Credit Support, or Tranche C Credit Support in accordance with the Financing Documents to the extent such credit support no longer satisfies the requirements of or is otherwise required to be replaced by the terms of such Financing Documents, or (iii) an Event of Default (as defined in the Term Loan Agreement) occurs (or would have occurred but for the taking of any Class B Cure Actions) under Section 7.01(m)(iii) or Section 7.01(s) of the Term Loan Agreement that is not cured in accordance with the terms of the Term Loan Agreement (any of the events described in clauses (i), (ii), or (iii), a “Credit Support Default”), the Class B Member Representative shall have the right, but not the obligation, to (A) exercise its remedies pursuant to Section 4.05, (B) provide (or cause any of its Affiliates to provide) credit support in lieu of the Tranche A Credit Support, the Tranche B Credit Support, or the Tranche C Credit Support, as applicable, or provide other credit support, or otherwise take any action, to attempt to cure, prevent, or mitigate any event of default and (C) exercise all other rights and remedies available to it or the Company or its subsidiaries under the Term Loan Agreement, including, for the avoidance of doubt, the right to buyout or prepay the Tranche A Facility, the Tranche B Facility, or the Tranche C Facility, as applicable (any of the foregoing actions in subclauses (A) through (C) and the actions in the following sentence, the “Class B Cure Actions”). Notwithstanding the foregoing, in the event that any default occurs under the Term Loan Agreement that with notice or passage of time or both would result in an Event of Default (as defined in the Term Loan Agreement) and NEP fails to take such actions as are necessary to avoid such event becoming an Event of Default (as defined in the Term Loan Agreement), the Class B Member Representative shall have the right, but not the obligation, to take any Class B Cure Actions.

ARTICLE 7

TRANSFERS AND TRANSFER RESTRICTIONS

7.01 General Restrictions on Transfers.

(a) Except as otherwise provided in this Article 7, and other than Dispositions by a Member to one or more of its Affiliates, Affiliated Funds, and Affiliated Investment Vehicles, (i) for so long as any Class B Units remain outstanding (other than Class B Units held by NEP Class B Parties), NEP Member and its Affiliates holding Class A Units or Class B Units

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may not Dispose of all or any portion of their Class A Units or Class B Units without Class B Member Approval; and (ii) no Class B Member (other than NEP Member and its Affiliates holding Class B Units, which shall be subject to clause (i) of this Section 7.01) may Dispose of all or any portion of its Class B Units prior to the third (3^rd) anniversary of the Effective Date without the prior written consent of NEP Member; provided, however, that (1) each Class A Member shall be permitted to Encumber all or a portion of its Membership Interest in, and distributions with respect to, its Class A Units or Class B Units in connection with a Class A Permitted Loan Financing, and each Member agrees to provide reasonable cooperation in connection therewith (it being agreed by the Members that any foreclosure under such Class A Permitted Loan Financing on pledged Class A Units or Class B Units shall not be deemed to violate this Section 7.01(a)); (2) from and after a Triggering Event, each Class B Member shall be permitted to Dispose of its Class B Units without the written consent of the NEP Member (provided, however, that, if the Triggering Event occurred prior to [•], 2026,⁷ no Disposition to an Excluded Party shall be permitted without the written consent of NEP Member); (3) at any time from and after the third (3^rd) anniversary of the Effective Date but prior to [•], 2026,⁸ each of the Class B Members (other than NEP Member and its Affiliates holding Class B Units) may freely Dispose of all or any portion of its Class B Units to any Person, other than an Excluded Party, without the consent of NEP Member, but only to the extent that, prior to the date of such Class B Member’s delivery of a Disposition Notice (as defined below) with respect to such Disposition of Class B Units, such Class B Member has not received a then pending Call Option Notice or Class B COC Notice with respect to the Class B Units held by such Class B Member (in which event, such Class B Member shall be permitted to Dispose of only such number of its Class B Units as is not subject to such Call Option Notice or Class B COC Notice, as applicable); and (4) at any time on or after [•], 2026,⁹ each of the Class B Members (other than NEP Member and its Affiliates holding Class B Units) may freely Dispose of all or any portion of its Class B Units to any Person without the consent of NEP Member, subject, in the case of clause (4), to Section 7.01(c). Each Member agrees that it shall provide the Managing Member and the other Members with prior written notice of any proposed Disposition or Encumbrances of its Membership Interests (a “Disposition Notice”). Any attempted Disposition or Encumbrance of a Membership Interest other than in strict accordance with this Article 7 shall be, and is hereby declared, null and void ab initio.

(b) An Assignee may be admitted to the Company as a Member, with the Membership Interest so Disposed of to such Assignee, only if such Disposition is effected in accordance with Section 7.01(a) and, if applicable, Section 7.02 or Section 7.03. In addition to the requirements set forth in Section 7.01(a), any admission of an Assignee as a Member shall also be subject to the following requirements, and such Disposition (and admission, if applicable) shall not be effective unless such requirements are complied with; provided that the Managing Member, in its sole and absolute discretion, may waive any of the following requirements:

(i) Disposition Documents. The following documents must be delivered to the Managing Member and must be satisfactory, in form and substance, to

⁷NTD - To be the date that is seventy-eight (78) months after the Effective Date.

⁸ NTD - To be the date that is seventy-eight (78) months after the Effective Date.

⁹ NTD - To be the date that is seventy-eight (78) months after the Effective Date.

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the Managing Member (provided that, in the case of a Disposition pursuant to a foreclosure under a Class A Permitted Loan Financing, the documents under clause (B) below shall be required to be executed and delivered by only the Assignee of the Disposing Member and all expenses required to be paid under clause (ii) below may be paid by the applicable Assignee):

(A) Disposition Instrument. A copy of the instrument pursuant to which the Disposition is effected.

(B) Ratification of this Agreement. An instrument, executed by the Disposing Member and its Assignee, containing the following information and agreements, to the extent they are not contained in the instrument described in Section 7.01(b)(i)(A): (aa) the notice address of the Assignee and, if applicable, each Parent of the Assignee; (bb) the Unreturned Contribution Percentages, after giving effect to the Disposition, of the Disposing Member and its Assignee (which together must total the Unreturned Contribution Percentage of the Disposing Member before the Disposition); (cc) the Assignee’s ratification of this Agreement and agreement to be bound by it, and its confirmation that the representations and warranties in Section 3.02 are true and correct with respect to it; and (dd) representations and warranties by the Disposing Member and its Assignee that the Disposition and admission is being made in accordance with all applicable Laws and, to the extent applicable, any Class A Permitted Loan Financing.

(ii) Payment of Expenses. The Disposing Member and its Assignee shall pay, or reimburse the Company for, all reasonable costs and expenses incurred by the Company in connection with the Disposition and admission on or before the tenth (10^th) day after the receipt by that Person of the Company’s invoice for the amount due. The Company will provide such invoice as soon as practicable after the amount due is determined but in no event later than ninety (90) days thereafter.

(iii) No Release. No Disposition of a Membership Interest shall effect a release of the Disposing Member from any liabilities to the Company or the other Members arising from events occurring prior to the Disposition.

(iv) No Violation of Laws. No Disposition of a Membership Interest shall be permitted unless such Disposition is being made (A) pursuant to a valid exemption from registration under the Securities Act and any applicable state securities Law and in accordance with such securities Laws and (B) in accordance with all other applicable Laws.

(v) PTP. No Disposition shall be permitted if such Disposition would result in the Company’s being treated as a publicly traded partnership subject to tax as an association for U.S. federal income tax purposes.

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(c) If, at any time from and after [•], 2026,¹⁰ but prior to the earlier of (y) the occurrence of a Triggering Event or (z) the tenth (10^th) anniversary of the Effective Date, any Class B Member wishes to Dispose of any or all of its Class B Units then held by such Class B Member other than to an Affiliate, Affiliated Fund or Affiliated Investment Vehicle of such Class B Member, and NEP Member has not, at such time, delivered a then pending Call Option Notice or Class B COC Notice with respect to all of the Class B Units then held by such Class B Member, then NEP Member shall have a right of first offer with respect thereto in accordance with the following provisions:

(i) The Disposing Member shall provide the Managing Member and NEP Member with a Disposition Notice that specifies the number of Class B Units that the Disposing Member intends to Dispose of (which shall not include any Class B Units subject to a pending Call Option Notice or Class B COC Notice).

(ii) NEP Member shall have a period of up to thirty (30) days following receipt of such Disposition Notice to offer in writing (an “Offer Notice”) to purchase all of the Class B Units specified in the Disposition Notice, which Offer Notice shall include a form of acquisition agreement, and specify the purchase price per Class B Unit (which shall be in cash), the date on which such purchase is proposed to be consummated, and all other terms on which NEP Member proposes to acquire the Class B Units specified in the Disposition Notice. Upon receipt of an Offer Notice, the Disposing Member shall have a period of up to thirty (30) days following receipt of such Offer Notice (the “Notice Period”) to deliver a written notice to NEP Member stating that it accepts the NEP Member’s offer to purchase the Class B Units specified in the Disposition Notice for such consideration and pursuant to the terms set forth in the Offer Notice.

(iii) If (i) NEP Member fails to submit an Offer Notice within such period of thirty (30) days, or (ii) the Disposing Member does not deliver a notice to the NEP Member accepting the Offer Notice, then, for a period of two hundred ten (210) days after such failure to submit an Offer Notice or the expiration of the Notice Period, as applicable, thereafter (subject to extension for receipt of any Required Governmental Authorizations), the Disposing Member shall be permitted to sell to any Person all of the Class B Units specified in the Disposition Notice at a price per Class B Unit equal to or greater than the price set forth in the Offer Notice and on such other terms as are, in the aggregate, no less favorable to such Class B Member than those offered by NEP Member in the Offer Notice, in each case, subject to compliance with Section 7.01(b).

(iv) NEP Member may, in its sole discretion, assign, in whole or in part, to NEP or any subsidiary of NEP its right to offer to purchase the Class B Units of any Class B Member pursuant to this Section 7.01(c).

¹⁰ NTD - To be the date that is seventy-eight (78) months after the Effective Date.

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(d) Subject to NEP Member’s rights pursuant to Section 7.01(c), NEP Member agrees to provide reasonable cooperation and assistance in connection with any Class B Member’s proposed Transfer of Class B Units. In furtherance of the foregoing, the Managing Member shall, and shall cause the Company and its subsidiaries to, use commercially reasonable efforts to cooperate with, provide reasonable assistance with respect to, and take customary actions reasonably requested by the Class B Members, including (i) making the Company’s and its subsidiaries’ properties, books and records, and other assets reasonably available for inspection by potential acquirers, (ii) establishing a physical or electronic data room that includes materials customarily made available to potential acquirers in connection with such processes, and (iii) upon reasonable notice, making employees of the Managing Member, the Company, and its Affiliates reasonably available for presentations, site visits, interviews, and other diligence activities, subject, in each case, to customary confidentiality provisions; provided that none of the foregoing actions unreasonably interferes with the operation of any business of the Company or any of its subsidiaries. The Class B Members and their Affiliates shall, promptly upon written request by NEP Member, reimburse NEP Member and its Affiliates for all reasonable and documented out-of-pocket costs, fees, and expenses (including attorneys’ fees and expenses), to the extent such costs, fees, and expenses are incurred by such Person or any of the directors, officers, managers, members, partners, employees, stockholders, representatives, advisors, or Affiliates of such Person in connection with any such Person’s complying with the obligations under this Section 7.01(d).

7.02 Call Option.

(a) At any time, and from time to time, on or after [•], 2023,¹¹ but prior to [•], 2026,¹² NEP Member shall have the right, but not the obligation, to acquire, subject to the limitations and requirements of this Section 7.02, all or any portion of the outstanding Class B Units at a purchase price that results in an Internal Rate of Return per Class B Unit purchased pursuant to this Section 7.02, measured from the Effective Date to the Call Option Closing Date, of eleven percent (11%) on each Class B Unit acquired upon the exercise of such Call Option (the “Call Option Purchase Price”), upon the terms and conditions set forth in this Section 7.02 (the “Call Option”). NEP Member may not assign its right to purchase the outstanding Class B Units pursuant to this Section 7.02 to any Person other than NEP or a subsidiary thereof; provided, however, that, in the event of any such assignment, NEP Member and NEP shall remain subject to their respective obligations set forth in this Section 7.02 upon any exercise of the Call Option.

(b)

(i) To exercise the Call Option, NEP Member shall deliver to the Class B Members written notice of such exercise (the “Call Option Notice”) following the end of trading on a Trading Day containing (A) the date on which the Call Option is to be consummated (the “Call Option Closing”), which shall be seven (7) Business Days after the date of the Call Option Notice (the “Call Option Closing Date”), (B) the number

¹¹ NTD - To be the date that is forty-two (42) months after the Effective Date.

¹²NTD - To be the date that is seventy-eight (78) months after the Effective Date.

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of Class B Units to be purchased, (C) the Call Option Purchase Price per Class B Unit, (D) a report in the form of the IRR Report showing the Internal Rate of Return as of the Call Option Closing Date, and (E) the form of consideration to be used to pay the Call Option Purchase Price, which shall be either cash, Non-Voting NEP Common Units, or a combination of cash and Non-Voting NEP Common Units, subject to the other requirements of this Section 7.02, including the respective proportions thereof to be paid to the Class B Members (or their nominee(s)); provided, however, that NEP Member may issue a maximum of one (1) Call Option Notice in any calendar quarter. The Call Option Notice shall be delivered to the Class B Members seven (7) Business Days in advance of the Call Option Closing Date and shall be irrevocable. Delivery of the initial Call Option Notice may be made prior to the first date on which NEP Member is permitted to exercise the Call Option in accordance with the preceding sentence (but for the avoidance of doubt, no Call Option Closing shall occur prior to [•], 2023).¹³

(ii) The Class B Member Representative shall, at least four (4) Business Days prior to the Call Option Closing Date, deliver to the Company and NEP Member a written election (the “Call Option Election Notice”), notifying NEP Member as to whether any of the Class B Members elects to sell all or any portion of the Non-Voting NEP Common Units to be issued as payment of the Call Option Purchase Price (“Call Exercise NEP Units”) to a Person other than an Affiliate, Affiliated Fund, or Affiliated Investment Vehicle of such Class B Member (a “Third-Party Buyer”) within three (3) Business Days following the Call Option Closing Date (if applicable, the “Call Units Sale Date”) and specifying the number of Call Exercise NEP Units (if any) to be sold by each Class B Member (a “Sale Election”). The Call Option Election Notice shall be irrevocable. If any of the Class B Members makes a Sale Election, then such Class B Members shall use commercially reasonable efforts to make arrangements with an underwriter, broker, or other sales agent to facilitate such sale (the “Sale Arrangement”) of the Call Exercise NEP Units that are subject to the Sale Election on the Call Units Sale Date. The Class B Member Representative shall regularly update NEP with respect to the negotiation of the Sale Arrangement, and NEP shall use commercially reasonable efforts to cooperate with the Class B Member Representative in connection with sales of Call Exercise NEP Units pursuant to such Sale Arrangement.

(iii) The Class B Member Representative shall, at least two (2) Business Days prior to the Call Option Closing Date, deliver to the Company and NEP Member a written notice (the “Call Option Sale Notice”), notifying the Company and NEP Member as to whether any Sale Arrangement has been arranged, and, if so, the Agreed Sale Price per Call Exercise NEP Unit and the number of Call Exercise NEP Units to be sold by each applicable Class B Member on the Call Units Sale Date pursuant to such Sale Arrangement. The Call Option Sale Notice shall be irrevocable. NEP and such Class B Members shall use commercially reasonable efforts to cooperate in any sale of Call Exercise NEP Units pursuant to such Sale Arrangement.

¹³ NTD - To be the date that is forty-two (42) months after the Effective Date.

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(c) The aggregate number of Class B Units purchased in any Call Option shall, cumulatively when taken together with all Class B Units purchased in all prior exercises of the Call Option, shall be no more than:

(i) from [•], 2023,¹⁴ but prior to [•], 2024,¹⁵ twenty-five percent (25%) of the total number of outstanding Class B Units;

(ii) from [•], 2024,¹⁶ but prior to [•], 2024,¹⁷ fifty percent (50%) of the total number of outstanding Class B Units;

(iii) from [•], 2024,¹⁸ but prior to [•], 2025,¹⁹ seventy-five percent (75%) of the total number of outstanding Class B Units; and

(iv) from and after [•], 2025,²⁰ one hundred percent (100%) of the total number of outstanding Class B Units.

(d) Non-Voting NEP Common Units may be used for payment of the Call Option Purchase Price at any Call Option Closing Date subject to the following limitations and the satisfaction of each of the following conditions as of the applicable Call Option Closing Date:

(i) the NEP Common Units are listed or admitted to trading on the Nasdaq Stock Market or the New York Stock Exchange;

(ii) the Registration Rights Agreement shall be in effect with respect to the NEP Common Units into which the Non-Voting NEP Common Units are convertible, subject to and in accordance with the terms of the NEP Limited Partnership Agreement;

(iii) the NEP LPA Amendment (as that term is used in the Purchase Agreement) shall be in full force and effect, without any modification thereto;

(iv) NEP must have an effective registration statement on file with the Commission covering resales of the underlying NEP Common Units to be received upon conversion of the Non-Voting NEP Common Units, and none of NEP or its Affiliates has knowledge of any news, events, or developments that NEP or such Affiliates believe would require it to suspend the use of such registration statement under Section 2.01(b) of the Registration Rights Agreement;

(v) (A) none of NEP or its Affiliates has knowledge of previously undisclosed material news, events, or developments that NEP or such Affiliate would be

¹⁴ NTD - To be the date that is forty-two (42) months after the Effective Date.

¹⁵ NTD - To be the date that is fifty-four (54) months after the Effective Date.

¹⁶ NTD - To be the date that is fifty-four (54) months after the Effective Date.

¹⁷NTD - To be the date that is sixty (60) months after the Effective Date.

¹⁸ NTD - To be the date that is sixty (60) months after the Effective Date.

¹⁹ NTD - To be the date that is sixty-six (66) months after the Effective Date.

²⁰ NTD - To be the date that is sixty-six (66) months after the Effective Date.

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obligated to disclose publicly, under applicable Law or the rules of the National Securities Exchange on which the NEP Common Units are listed, if NEP or such Affiliate were offering and selling NEP Common Units (or other publicly traded securities), the disclosure of which would reasonably be expected to negatively affect the trading price of NEP Common Units on the applicable National Securities Exchange; and (B) NEP (or its Affiliates) shall have publicly disclosed any material news, events or developments that would reasonably be expected to negatively affect the trading price of NEP Common Units on the applicable National Securities Exchange at least one (1) full Trading Day (on which NEP Common Units traded on the applicable National Securities Exchange without stop or interruption) prior to the issuance of any Call Option Notice; and

(vi) in any exercise of the Call Option, the aggregate number of Non-Voting NEP Common Units that will be issued to holders of Class B Units at the applicable Call Option Closing, together with all Non-Voting NEP Common Units issued in all prior exercises of the Call Option, shall be no more than twenty-two and one half percent (22.5%) of the total number of outstanding NEP Common Units on a Fully Diluted Basis (including any Non-Voting NEP Common Units to be issued at the applicable Call Option Closing).

(e) NEP Member may pay any Call Option Purchase Price, at its option (subject to Section 7.02(d) above), in either cash, Non-Voting NEP Common Units, or a combination of cash and Non-Voting NEP Common Units. Any Call Exercise NEP Units to be issued as payment of (or partial payment of) any Call Option Purchase Price will be issued at a price (the “Issuance Price”) specified in the applicable Call Option Notice, which Issuance Price shall be specified as the lesser of (X) the 10-day VWAP on the date of the Call Option Notice and (Y) the listed price of a NEP Common Unit as of the end of trading on the date of the Call Option Notice; provided, however, that:

(i) if any portion of the Call Option Purchase Price is to be paid in cash (the “Call Option Cash Portion”), then the Call Option Cash Portion paid on the Call Option Closing Date shall be reduced by an amount equal to four percent (4%) of the Call Option Cash Portion;

(ii) if (A) any portion of the Call Option Purchase Price is to be paid in Non-Voting NEP Common Units, (B) the Class B Members have elected to sell some or all of the Call Exercise NEP Units through the applicable Sale Arrangement, and (C) the applicable Sale Unit Clawback Value is greater than zero (not to exceed the Clawback Cap), then the number of Call Exercise NEP Units to be issued to such Class B Member at the Call Option Closing shall be reduced by a number of Call Exercise NEP Units equal to the quotient obtained by dividing (y) the applicable Sale Unit Clawback Value by (z) the Issuance Price used in the calculation of the Call Option Purchase Price; and

(iii) if any portion of the Call Option Purchase Price is to be paid in Non-Voting NEP Common Units and the Class B Member Representative does not timely deliver a Call Option Sale Notice containing a Sale Election by one or more Class

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B Members to sell any of the Call Exercise NEP Units to be issued as part of such Call Option Purchase Price, then the number of Call Exercise NEP Units to be issued at the Call Option Closing shall be reduced by a number of Call Exercise NEP Units equal to the quotient obtained by dividing (A) the applicable Held Unit Clawback Value by (B) the Issuance Price used in the calculation of the Call Option Purchase Price.

(f) On each Call Option Closing Date, (i) the Class B Members will convey all right, title, and interest in and to the applicable Class B Units, free of all Encumbrances (other than those created by this Agreement or securities Laws), to NEP Member or its nominee; (ii) NEP Member or its nominee will pay the Call Option Cash Portion (subject to reduction pursuant to Section 7.02(e), as applicable), if any, to the Class B Members (or their nominee(s)) by wire transfer of immediately available funds; and (iii) NEP shall satisfy the remaining portion of the Call Option Purchase Price by issuing Non-Voting NEP Common Units to the Class B Members (subject to reduction pursuant to Section 7.02(e), as applicable), and, in connection therewith, NEP shall instruct, and shall use its commercially reasonable efforts to cause, its Transfer Agent to record the issuance of such Non-Voting NEP Common Units, as the case may be, to such Class B Members (or their nominee(s)). No fractional Non-Voting NEP Common Units will be issued, and any fractional Non-Voting NEP Common Units that otherwise would be issuable as part of the Call Option Purchase Price shall be rounded down to the nearest whole number of Non-Voting NEP Common Units, and the Call Option Cash Portion shall be increased to reflect the value of such fractional Non-Voting NEP Common Units. The Members agree that each Call Option Closing shall be subject to the receipt of all applicable Required Governmental Authorizations. In the event any such Required Governmental Authorizations shall not have been obtained by the date that is otherwise scheduled to be the Call Option Closing Date, then such Call Option Closing Date shall automatically be delayed until such date as all such Required Governmental Authorizations have been obtained and, for the avoidance of doubt, the Call Option Purchase Price set forth in the Call Option Notice shall be calculated from the Effective Date until the date of the actual Call Option Closing.

(g) Following consummation of the Call Option pursuant to which all of a Class B Member’s Class B Units are acquired by NEP Member (or its nominee), the Managing Member will amend this Agreement to reflect the withdrawal of such Class B Member and the transfer of the Class B Units effective as of the applicable Call Option Closing.

(h) If, in the exercise of any Call Option, the number of Class B Units to be purchased is less than all of the outstanding Class B Units and there are multiple holders of such Class B Units, the Class B Units so purchased will be acquired pro rata from the Class B Members (other than NEP Member and its Affiliates, if they hold Class B Units) based on the number of Class B Units held.

(i) Each Member agrees to cooperate fully with the Company, the Managing Member, and NEP to effect the Call Option Closing, including using its reasonable best efforts to obtain all applicable Governmental Authorizations, and entering into any agreements and instruments and executing any certificates or other documents the Managing Member reasonably deems necessary or appropriate to consummate the Disposition of the Class B Units. The Class B Members and NEP agree to use commercially reasonable efforts to coordinate with the Transfer

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Agent to record the issuance of Non-Voting NEP Common Units, as the case may be, to such Class B Members (or their nominee(s)).

(j) The NEP Member or its nominee shall be entitled to deduct and withhold from each Call Option Purchase Price the amounts each NEP Member or its nominee is required to deduct and withhold under any applicable Law, and amounts so withheld and properly remitted to the appropriate Governmental Authority shall be deemed paid for all purposes of this Agreement to the Person with respect to which such amount was withheld; provided that any such amounts shall be specified by the NEP Member in the applicable Call Option Notice; provided, further, that if, on the Call Option Closing Date, the Class B Members deliver to the NEP Member or its nominee withholding certificates pursuant to Treasury Regulations Section 1.1445-2(b)(2) and, in the case of a sale of the Class B Units, IRS Notice 2018-29, that the Class B Member (or if such entity is a disregarded entity, its regarded owner) is not a non-U.S. person, the NEP Member or its nominee shall not withhold any amounts under Section 1445 or Section 1446(f) of the Code unless there is a change in applicable Law prior to the Call Option Closing Date that requires such withholding.

7.03 Change of Control of NEP.

(a) If, at any time, there is an announcement of a proposed Change of Control of NEP (or the entry into any agreement providing therefor), then, commencing on the date of such announcement of a proposed Change of Control of NEP or such entry into such agreement and ending on the date that is ninety (90) calendar days after the consummation of such Change of Control of NEP, each Class B Member shall have the right, but not the obligation, to require NEP Member to acquire all or any portion of the Class B Units held by such Class B Member at a purchase price for each Class B Unit for which such election is made that is the greater of (i) a purchase price that results in a return to such Class B Member of at least an Internal Rate of Return on each such Class B Unit purchased pursuant to this Section 7.03, measured from the Effective Date to the Change of Control Closing Date, of eleven percent (11%) or (ii) an amount that, together with the aggregate amount of distributions received by such Member in respect of such Class B Units, provides a return of 140% of such Class B Member’s aggregate Capital Contributions in respect of such Class B Units, measured from the date on which any applicable Capital Contribution is made to the Company to the Change of Control Closing Date (collectively, the “Change of Control Purchase Price”), upon the terms and conditions set forth in this Section 7.03 (the “NEP Change of Control Option”). NEP Member may not assign its obligation to purchase such Class B Units pursuant to this Section 7.03 to any Person other than NEP or a subsidiary thereof.

(b)

(i) To exercise its NEP Change of Control Option, a Class B Member shall deliver to NEP Member written notice executed by such Class B Member of such exercise (the “Change of Control Notice”) containing (i) the date on which the acquisition of the Class B Units identified in the Change of Control Notice (the “Change of Control Closing”) is to be consummated (such date, the “Change of Control Closing Date”), and (ii) the number of Class B Units to be purchased and the Change of Control

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Purchase Price per Class B Unit. NEP Member may pay the Change of Control Purchase Price, at its option, in either cash, Non-Voting NEP Common Units or a combination of cash and Non-Voting NEP Common Units; provided, however, that NEP may issue a security that is substantially equivalent to the NEP Common Units in terms of rights, preferences, and privileges, including with respect to economics, governance, transferability and liquidity, if, as a result of the Change of Control of NEP, NEP will cease to exist or the NEP Common Units will cease to be listed on a National Securities Exchange. If some or all of the Change of Control Purchase Price consists of Non-Voting NEP Common Units, the Issuance Price for each such Non-Voting NEP Common Unit will be specified as the lesser of (A) the 10-day VWAP of the NEP Common Units on the date of the announcement of, or entry into an agreement with respect to, the proposed Change of Control of NEP and (B) the listed price of a NEP Common Unit as of the end of trading on the Trading Day that immediately precedes the Change of Control Closing Date (or, if the NEP Common Units are not then listed on a National Securities Exchange, the fair market value of a NEP Common Unit on such date, as determined in good faith by the board of directors of NEP in a commercially reasonable manner).

(ii) The Change of Control Notice shall be delivered to NEP Member ten (10) Business Days in advance of the Change of Control Closing Date. If the NEP Member elects to pay the Change of Control Purchase Price in Non-Voting NEP Common Units, NEP Member shall, within three (3) Business Days of the date of any such Change of Control Notice, notify the Class B Member Representative of such election. The Class B Member Representative shall, at least five (5) Business Days prior to the Change of Control Closing Date, deliver a notice to the Company and NEP Member (a “Change of Control Election Notice”) notifying the NEP Member as to whether any of the Class B Members elects to sell all or any portion of the Non-Voting NEP Common Units to be issued as payment of the Change of Control Purchase Price (“Change of Control NEP Units”) to a Third-Party Buyer within three (3) Business Days following the Change of Control Closing Date (or, in the event that NEP Common Units are no longer listed on Nasdaq or the New York Stock Exchange, within 180 days following the Change of Control Closing Date) (if applicable, the “Change of Control Units Sale Date”) and specifying the number of Change of Control NEP Units (if any) to be sold by each Class B Member (a “Change of Control Units Sale Election”). The Change of Control Units Election Notice shall be irrevocable. If any of the Class B Members elects to sell all or any portion of such Non-Voting NEP Common Units pursuant to a Change of Control Units Sale Election, then such Class B Members shall use commercially reasonable efforts to make a Sale Arrangement for the Change of Control NEP Units that are subject to the Change of Control Units Sale Election on the Change of Control Units Sale Date. The Class B Member Representative shall regularly update NEP with respect to the negotiation of the Sale Arrangement, and NEP shall use commercially reasonable efforts to cooperate with the Class B Member Representative in connection with sales of Change of Control NEP Units pursuant to such Sale Arrangement.

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(iii) The Class B Member Representative shall, at least one (1) Business Day prior to the Change of Control Closing Date, deliver to the Company and NEP Member a written notice (the “Change of Control Sale Notice”), notifying the Company and NEP Member as to whether any Sale Arrangement has been arranged, and, if so, the Agreed Sale Price per Change of Control NEP Unit and the number of Change of Control NEP Units to be sold by each applicable Class B Member on the Change of Control Units Sale Date pursuant to such Sale Arrangement. The Change of Control Sale Notice shall be irrevocable. NEP and such Class B Members shall use commercially reasonable efforts to cooperate in any sale of Change of Control NEP Units pursuant to such Sale Arrangement.

(iv) If any portion of the Change of Control Purchase Price is to be paid in cash (the “Change of Control Cash Portion”), then the Change of Control Cash Portion paid on the Change of Control Closing Date shall be reduced by an amount equal to four percent (4%) of the Change of Control Cash Portion.

(v) If (A) any portion of the Change of Control Purchase Price is to be paid in Non-Voting NEP Common Units, (B) the Class B Members have elected to sell some or all of the Change of Control NEP Units through the applicable Sale Arrangement, and (C) the applicable Sale Unit Clawback Value is greater than zero (not to exceed the Clawback Cap), then the number of Change of Control NEP Units to be issued to such Class B Member at the Change of Control Closing shall be reduced by a number of Change of Control NEP Units equal to the quotient obtained by dividing (y) the applicable Sale Unit Clawback Value by (z) the Issuance Price used in the calculation of the Change of Control Purchase Price.

(vi) If any portion of the Change of Control Purchase Price is to be paid in Non-Voting NEP Common Units and the Class B Member Representative does not timely deliver a Change of Control Sale Notice containing a Change of Control Units Sale Election by one or more Class B Members to sell any of the Change of Control NEP Units to be issued as part of such Change of Control Purchase Price, then the number of Change of Control NEP Units to be issued at the Change of Control Closing shall be reduced by a number of Change of Control NEP Units equal to the quotient obtained by dividing (A) the applicable Held Unit Clawback Value by (B) the Issuance Price used in the calculation of the Change of Control Purchase Price.

(c) Non-Voting NEP Common Units may be used for payment of the Change of Control Purchase Price at any Change of Control Closing Date only if each of the conditions set forth in clauses (ii) and (iii) of Section 7.02(d) is satisfied as of the Change of Control Closing Date.

(d) On the Change of Control Closing Date, (i) each Class B Member exercising the NEP Change of Control Option will convey the Class B Units identified in the applicable Change of Control Notice, free of all Encumbrances (other than those created by this Agreement or securities Laws), to NEP Member or its nominee; (ii) NEP Member or its nominee (or, if the foregoing do not pay, NEP) will pay the Change of Control Cash Portion (subject to

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reduction pursuant to Section 7.03(b), as applicable), if any, to such Class B Member (or its nominee(s)) by wire transfer of immediately available funds; and (iii) NEP shall satisfy the remaining portion, if any, of the Change of Control Purchase Price by issuing Non-Voting NEP Common Units or a substantially equivalent security, as determined pursuant to Section 7.03(b), to such Class B Member (or its nominee(s)) (subject to reduction pursuant to Section 7.03(b), as applicable) and, in connection therewith, NEP shall instruct, and shall use its commercially reasonable efforts to cause, its Transfer Agent to record the issuance of such Non-Voting NEP Common Units to such Class B Members (or their nominee(s)). No fractional Non-Voting NEP Common Units will be issued, and any fractional Non-Voting NEP Common Units that otherwise would be issuable as part of the Change of Control Purchase Price shall be rounded down to the nearest whole number of Non-Voting NEP Common Units, and the Change of Control Cash Portion shall be increased to reflect the value of such fractional Non-Voting NEP Common Units. The Members agree that the Change of Control Closing shall be subject to the receipt of all applicable Required Governmental Authorizations. In the event any such Required Governmental Authorizations shall not have been obtained by the date that is otherwise scheduled to be the Change of Control Closing Date, then such Change of Control Closing Date shall automatically be delayed until such date as all such Required Governmental Authorizations have been obtained and, for the avoidance of doubt, the Change of Control Purchase Price set forth in the Change of Control Notice shall be calculated from the Effective Date until such date of the actual Change of Control Closing.

(e) Following consummation of the transactions contemplated by this Section 7.03, to the extent a Class B Member has Disposed of all of its Class B Units, the Managing Member will amend this Agreement to reflect the withdrawal of such Class B Member and the transfer of such Class B Units effective as of the Change of Control Closing.

(f) Each Member agrees to cooperate fully with the Company, the Managing Member, and NEP to effect the Change of Control Closing as reasonably requested, including using its reasonable best efforts to obtain all applicable Governmental Authorizations, and entering into any agreements and instruments and executing any certificates or other documents the Managing Member reasonably deems necessary or appropriate to consummate the Disposition of the Class B Units.

7.04 Change of Control of a Class B Member.

(a) If, at any time prior to the third (3^rd) anniversary of the Effective Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety (90) calendar days after the consummation of such Change of Control of such Class B Member, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each Class B Unit for which such election is made, measured from the Effective Date to the Class B COC Closing Date, of eleven percent (11%) (the “Class B COC Purchase Price”), upon the terms and conditions set forth in this Section 7.04 (the “Class B

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COC Option”). NEP Member may not assign its right to purchase the applicable Class B Units pursuant to this Section 7.04 to any Person other than NEP or a subsidiary thereof; provided, however, that, in the event of any such assignment, NEP Member and NEP shall remain subject to their respective obligations set forth in this Section 7.04 upon any exercise of the Class B COC Option.

(b)

(i) To exercise the Class B COC Option, NEP Member shall deliver to the COC Member written notice of such exercise (the “Class B COC Notice”) containing (A) the date (the “Class B COC Closing Date”) on which the Class B COC Option is to be consummated (the “Class B COC Closing”), (B) the number of Class B Units to be purchased, (C) the Class B COC Purchase Price per Class B Unit, and (D) the form of consideration to be used to pay the Class B COC Purchase Price, which shall be, at NEP Member’s election, either cash, Non-Voting NEP Common Units, or a combination of cash and Non-Voting NEP Common Units. If some or all of the Class B COC Purchase Price consists of Non-Voting NEP Common Units, the Issuance Price for each such Non-Voting NEP Common Unit will be specified as the 10-day VWAP of the NEP Common Units on the date of the announcement of, or entry into an agreement with respect to, the proposed Change of Control of the applicable Class B Member. The Class B COC Notice shall be delivered to the COC Member at least seven (7) Business Days in advance of the Class B COC Closing Date.

(ii) The Class B Member Representative shall, at least four (4) Business Days prior to the Class B COC Closing Date, deliver a notice to the Company and NEP Member (a “Class B COC Election Notice”) notifying the NEP Member as to whether any of the Class B Members elects to sell all or any portion of the Non-Voting NEP Common Units to be issued as payment of the Class B COC Purchase Price (“Class B COC NEP Units”) to a Third-Party Buyer within three (3) Business Days following the Class B COC Closing Date (if applicable, the “Class B COC Units Sale Date”) and specifying the number of Class B COC NEP Units (if any) to be sold by each Class B Member (a “Class B COC Units Sale Election”). The Class B COC Election Notice shall be irrevocable. If a Class B Member elects to sell all or any portion of such Non-Voting NEP Common Units pursuant to a Class B COC Units Sale Election, then such Class B Member shall use commercially reasonable efforts to make a Sale Arrangement for the Class B COC NEP Units that are subject to the Class B COC Units Sale Election on the Class B COC Units Sale Date. The Class B Member Representative shall regularly update NEP Member with respect to the negotiation of the Sale Arrangement, and NEP shall use commercially reasonable efforts to cooperate with the Class B Member Representative in connection with sales of Class B COC NEP Units pursuant to such Sale Arrangement.

(iii) The Class B Member Representative shall, at least two (2) Business Days prior to the Class B COC Closing Date, deliver to the Company and NEP Member a written notice (the “Class B COC Sale Notice”), notifying the Company and NEP Member as to whether any Sale Arrangement has been arranged, and, if so, the

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Agreed Sale Price per Class B COC NEP Unit and the number of Class B COC NEP Units to be sold by each applicable Class B Member on the Class B COC Units Sale Date pursuant to such Sale Arrangement. The Class B COC Sale Notice shall be irrevocable. NEP and such Class B Members shall use commercially reasonable efforts to cooperate in any sale of Class B COC NEP Units pursuant to such Sale Arrangement.

(iv) If any portion of the Class B COC Purchase Price is to be paid in cash (the “Class B COC Cash Portion”), then the Class B COC Cash Portion paid on the Class B COC Closing Date shall be reduced by an amount equal to four percent (4%) of the Class B COC Cash Portion.

(v) If (A) any portion of the Class B COC Purchase Price is to be paid in Non-Voting NEP Common Units, (B) the Class B Members have elected to sell some or all of the Class B COC NEP Units through the applicable Sale Arrangement, and (C) the applicable Sale Unit Clawback Value is greater than zero (not to exceed the Clawback Cap), then the number of Class B COC NEP Units to be issued to such Class B Member at the Class B COC Closing shall be reduced by a number of Class B COC NEP Units equal to the quotient obtained by dividing (y) the applicable Sale Unit Clawback Value by (z) the Issuance Price used in the calculation of the Class B COC Purchase Price.

(vi) If any portion of the Class B COC Purchase Price is to be paid in Non-Voting NEP Common Units and the Class B Member Representative does not timely deliver a Class B COC Sale Notice containing a Class B COC Units Sale Election by one or more Class B Members to sell any of the Class B COC NEP Units to be issued as part of such Class B COC Purchase Price, then the number of Class B COC NEP Units to be issued at the Class B COC Closing shall be reduced by a number of Class B COC NEP Units equal to the quotient obtained by dividing (A) the applicable Held Unit Clawback Value by (B) the Issuance Price used in the calculation of the Class B COC Purchase Price.

(c) Non-Voting NEP Common Units may be used for payment of the Class B COC Purchase Price at any Class B COC Closing Date only if each of the following conditions set forth in clauses (i) through (iv) (inclusive) of Section 7.02(d) is satisfied as of the applicable Class B COC Closing Date:

(d) On the Class B COC Closing Date, (i) each COC Member will convey all of its right, title, and interest in and to such COC Member’s Class B Units identified in the Class B COC Notice, free of all Encumbrances (other than those created by this Agreement or securities Laws), to NEP Member or its nominee; (ii) NEP Member or its nominee will pay the Class B COC Cash Portion (subject to reduction pursuant to Section 7.04(b)) to such COC Member (or its nominee) by wire transfer of immediately available funds; and (iii) NEP shall satisfy the remaining portion of the Class B COC Purchase Price by issuing Non-Voting NEP Common Units to such COC Member (or its nominee) (subject to reduction pursuant to Section 7.04(b), as applicable) and, in connection therewith, NEP shall instruct, and shall use its commercially reasonable efforts to cause, its Transfer Agent to record the issuance of such Non-Voting NEP

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Common Units to such COC Member (or its nominee). No fractional Non-Voting NEP Common Units will be issued, and any fractional Non-Voting NEP Common Units that otherwise would be issuable as part of the Class B COC Purchase Price shall be rounded down to the nearest whole number of Non-Voting NEP Common Units, and the Class B COC Cash Portion shall be increased to reflect the value of such fractional Non-Voting Common Units. The Members agree that the Class B COC Closing shall be subject to the receipt of all applicable Required Governmental Authorizations. In the event any such Required Governmental Authorizations shall not have been obtained by the date that is otherwise scheduled to be the Class B COC Closing Date, then such Class B COC Closing Date shall automatically be delayed until such date as all such Required Governmental Authorizations have been obtained and, for the avoidance of doubt, the Class B COC Purchase Price set forth in the Class B COC Notice shall be calculated from the Effective Date until such date of the actual Class B COC Closing.

(e) Following consummation of the transactions contemplated by this Section 7.04, to the extent a Class B Member has Disposed of all of its Class B Units, the Managing Member will amend this Agreement to reflect the withdrawal of such Class B Member and the transfer of such Class B Units effective as of the Class B COC Closing.

(f) Each Member agrees to cooperate fully with the Company, the Managing Member, and NEP to effect the Class B COC Closing as reasonably requested, including using its reasonable best efforts to obtain all applicable Governmental Authorizations, and entering into any agreements and instruments and executing any certificates or other documents the Managing Member reasonably deems necessary or appropriate to consummate the Disposition of the applicable Class B Units.

7.05 Non-Voting NEP Common Units.

(a) Subject to and in accordance with the terms of the NEP Limited Partnership Agreement, (i) each Non-Voting NEP Common Unit shall automatically convert into one (1) NEP Common Unit immediately upon the Disposition of such Non-Voting NEP Common Unit to any Person that is not an Affiliate of the Class B Member Disposing of such Non-Voting NEP Common Unit; and (ii) each Class B Member shall have the right, but not the obligation, to convert all or any portion of the Non-Voting NEP Common Units held by it into NEP Common Units. Notwithstanding anything to the contrary herein, NEP shall not effect any such conversion, and the Class B Members shall not have the right to convert any Non-Voting NEP Common Units to the extent that, after giving effect to the conversion set forth on the applicable Optional Conversion Notice (as such term is defined in the NEP Limited Partnership Agreement), the Class B Member (together with such Class B Member’s Affiliates and any other Persons acting as a group with the Class B Member or any of the Class B Member’s Affiliates (such Persons, “Attribution Parties”)) would beneficially own in excess of 19.8% of the number of NEP Common Units outstanding immediately after giving effect to such conversion. For purposes of this Section 7.05, beneficial ownership and the beneficial ownership percentage shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, including taking into account any other securities held by the Class B Member or any of the Attribution Parties that are convertible into NEP Common Units, as applicable. NEP hereby agrees that it shall not, without the consent of the Class B Members,

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alter, amend, or waive any provision of the NEP Limited Partnership Agreement in a manner that would require the consent of the Non-Voting NEP Common Units if the Non-Voting NEP Common Units were outstanding and held solely by the Class B Members.

(b) In the event of a Disposition of Non-Voting NEP Common Units, NEP hereby agrees to use commercially reasonable efforts to facilitate the conversion of such Non-Voting NEP Common Units in connection with such Disposition, including coordinating with the Transfer Agent to facilitate such Disposition and to record the transfer and conversion of Non-Voting NEP Common Units in a manner that permits the sale of the Non-Voting NEP Common Units in market transactions.

7.06 Governmental Authorizations.

(a) In furtherance and not in limitation of each Member’s obligations pursuant to Section 7.02, Section 7.03, and Section 7.04, each Member shall cooperate with the Managing Member and each other Member and shall use reasonable best efforts to take or cause to be taken all actions, and to do or cause to be done all things, reasonably necessary, proper, or advisable on its part to consummate the transactions contemplated by this Agreement as soon as reasonably practicable, including preparing and filing as promptly as reasonably practicable all documentation to obtain all Required Governmental Authorizations, including under the HSR Act. The Company shall pay all filing fees to obtain such Required Governmental Authorizations.

(b) In furtherance and not in limitation of the foregoing, each of the Members agrees that, to the extent the Managing Member determines that any Required Governmental Authorization is needed in connection with the occurrence of a Distribution Adjustment Date or the consummation of the Call Option, the NEP Change of Control Option, or the Class B COC Option, the applicable Members (and their respective subsidiaries, if applicable) shall file, or cause to be filed, all appropriate notifications, applications, and filings in connection therewith, including pursuant to the HSR Act, as promptly as practicable and shall promptly supply any additional information and documentary material that may be requested of such Person by the applicable Governmental Authorities in connection with the HSR Act or any other Law. Each of the Members agrees to use its reasonable best efforts to promptly furnish any information required to be submitted to comply with any request for information or equivalent request from the relevant Governmental Authorities. Each of the Members agrees to (A) give the other Members prompt notice of the making or commencement of any request, litigation, hearing, examination, action, or proceeding with respect to any Governmental Authorization sought hereby; (B) keep the Managing Member reasonably informed as to the status of any such request, litigation, hearing, examination, action, or proceeding; and (C) promptly inform the Managing Member of any material or substantive communication to or from any Governmental Authority to the extent regarding any Governmental Authorization sought hereby and provide a copy of all written communications. Each of the Members further agrees, to the extent not prohibited by Law, to consult the Managing Member on all the information relating to such Member that appears in any filing made with, or written materials submitted to, any Governmental Authority. Each party shall cause its respective counsel to furnish each other party such necessary information and reasonable assistance as such other party may reasonably request in connection

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with the preparation of necessary filings or submissions under the provisions of the HSR Act or any other Law. Each party shall cause its counsel to supply to each other party copies of the date-stamped receipt copy of the cover letters delivering the filings or submissions required under the HSR Act to any Governmental Authority and shall provide prompt notification to the other party when it becomes aware that any consent or approval is obtained, taken, made, given, or denied, as applicable. Notwithstanding anything to the contrary contained in this Agreement, the Managing Member shall have the principal responsibility for devising and implementing the strategy for obtaining any necessary Governmental Authorizations and shall take the lead in all meetings and communications with any Governmental Authority in connection with obtaining any necessary Governmental Authorizations; provided that no party shall participate in any meeting or substantive discussion with any Governmental Authority in respect of any such filings or related investigations or other inquires unless, to the extent not prohibited by Law, it consults with the other parties in advance and, to the extent permitted by the applicable Governmental Authority and Law, gives the other parties the opportunity to attend and participate in such meeting.

(c) Each of the Members agrees to use its reasonable best efforts to obtain early termination of the waiting period under the HSR Act and any other Law, and, in furtherance of the foregoing, each Member agrees to use its reasonable best efforts to avoid or eliminate as soon as possible each and every impediment under the HSR Act and any other applicable Law that may be asserted by any Governmental Authority so as to enable the Members hereto to promptly consummate the transactions contemplated by this Agreement; provided, however, that, notwithstanding the foregoing, no Member (and no Parent, subsidiary, or Affiliate of a Member) shall be required to take any of the following actions (or any action that would require a Member (or its Parent, subsidiaries, Affiliates or, in the case of a Class B Member, any direct or indirect portfolio company of investment funds advised or managed by one or more Affiliates of such Class B Member or any investment of such Class B Member or an Affiliate of such Class B Member in connection therewith) to take any of the following actions): (i) committing to or effecting, by consent decree, hold separate orders, trust, or otherwise, the divestiture, sale, license, transfer, assignment, or other Disposition of assets or business of such Persons; (ii) terminating, relinquishing, modifying, transferring, assigning, restructuring, or waiving existing agreements, collaborations, contractual rights, obligations, or other arrangements of such Persons; (iii) creating or consenting to create any contractual rights, obligations, tolling agreements, or other arrangements of such Persons, or (iv) otherwise limiting the freedom of action with respect to, any assets, rights, products, licenses, business, operations, or interests therein of any such Persons.

7.07 Liquidity Event.

(a) At any time from and after the tenth (10^th) anniversary of the Effective Date, the Class B Member Representative shall be entitled to cause the Company and other Members (including the Managing Member) to seek an initial public offering of the Company, a sale of the Company (whether by way of sale of all or substantially all of the assets or Membership Interests of the Company, merger or other business combination, or otherwise) or other liquidity event for the Company (any such transaction, a “Liquidity Event”), the consummation of which shall be subject to receipt of all applicable Required Governmental Authorizations and compliance with, or obtaining any required consents or waivers under, any

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applicable change of control or other applicable restriction set forth in any material agreement to which the Company or any of its direct or indirect subsidiaries is a party.

(b) If the Class B Member Representative elects to cause the Company to undertake a Liquidity Event pursuant to this Section 7.07, then the Class B Member Representative may exclusively identify, negotiate, structure, and otherwise pursue the Liquidity Event in good faith, in accordance with this Section 7.07 and, notwithstanding anything to the contrary in this Agreement (including Section 6.03), the Class B Member Representative shall have the right to amend or waive any provisions of the Delaware Certificate, this Agreement, or the organizational documents of any subsidiary of the Company, in each case, in connection with a Liquidity Event, so long as such amendment or waiver does not disproportionately adversely affect any Class A Member’s rights under this Agreement (as compared to the other Members). The Class B Member Representative shall regularly update NEP, as reasonably requested by NEP Member, with respect to the status of the process for such Liquidity Event. The Managing Member, the Company and each other Member shall, and shall cause their respective representatives to, use reasonable best efforts to cooperate with the Class B Member Representative in pursuing and effecting any Liquidity Event. In furtherance of the foregoing, the Managing Member shall and shall cause the Company and its subsidiaries to, take such action as the Class B Member Representative may reasonably request in connection with any proposed Liquidity Event, including engaging an investment banker or other advisors selected by the Class B Member Representative in connection with such Liquidity Event, providing such financial and operational information as the Class B Member Representative may request, making the properties, books and records and other assets of the Company and its subsidiaries reasonably available for inspection, and causing representatives of the Company and its subsidiaries to cooperate (including by participating in management presentations, preparing marketing materials, and making diligence materials available in a physical or electronic data room) with the Class B Member Representative in any marketing or sale process in connection with any proposed Liquidity Event, timely furnishing such information as is reasonably required in order for any registration statement filed in connection with an initial public offering of the Company to comply with the Securities Act, entering into customary lock-up agreements in connection with an initial public offering of the Company, and taking such other actions set forth in Section 7.01(d) in connection with such Liquidity Event. Each Member shall cause its applicable Controlled Affiliates, and shall use reasonable best efforts to cause its applicable Affiliates that are not Controlled Affiliates, to deliver any consents or waivers required from such Affiliate (including of any preferential transfer rights, rights of first offer, rights of first refusal and change of control or ownership provisions) under any agreement to which the Company or any of its direct or indirect subsidiaries is a party or to which any of their assets is bound in connection with any Liquidity Event.

(c) Each Member agrees that, from and after the tenth (10^th) anniversary of the Effective Date, such Member shall consent to, participate in, raise no objection against, waive any dissenter’s rights or appraisal rights to which such Member may be entitled and not impede or delay any such Liquidity Event, will take or cause to be taken all other actions to approve such Liquidity Event reasonably necessary or desirable to cause the consummation of such Liquidity Event on the terms proposed by the Class B Member Representative, and will execute any applicable merger, asset purchase, securities purchase, recapitalization, or other agreement

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negotiated by the Class B Member Representative in connection with any such Liquidity Event; provided, however, that (i) each Member shall make the same representations and warranties, covenants, and indemnities as each other Member; (ii) no Member shall be liable for the breach of any covenants, or inaccuracies in any representations or warranties, of any other Member and vice versa; (iii) in no event shall any Member be required to make representations, warranties, or covenants or provide indemnities as to any other Member; (iv) any liability relating to representations, warranties, and covenants (and related indemnities) or other indemnification obligations regarding the business of the Company and its subsidiaries in connection with the Liquidity Event shall be shared by the Members pro rata on a several (but not joint) basis in proportion to the amount of proceeds received by each Member in the Liquidity Event; and (v) in no event shall any Member be responsible for any liabilities or indemnities in connection with such Liquidity Event in excess of the amount of proceeds received by such Member in the Liquidity Event.

(d) In connection with any Liquidity Event, (i) the Class B Member Representative shall in good faith use its commercially reasonable efforts to maximize value to the Members (as a whole) in connection with such Liquidity Event (and in connection therewith, the Class B Member Representative may consider such factors as the Class B Member Representative determines in good faith to be necessary or appropriate, including with respect to the amount and form of consideration, timing, and transaction execution risk), (ii) each Member shall receive the same form of consideration as each other Member, and (iii) the amount of consideration to be received by each of the Members will be calculated by taking the aggregate amount of proceeds received in such Liquidity Event and allocating such proceeds among the Members in accordance with the distribution provisions set forth in Section 5.01(c).

(e) The Company shall bear the reasonable, documented and out-of-pocket costs incurred by each Member in connection with a Liquidity Event.

(f) Notwithstanding anything contained in this Section 7.07 to the contrary, there shall be no liability or obligation on behalf of the Class B Member Representative if the Class B Member Representative determines, for any reason, not to consummate a Liquidity Event, and the Class B Member Representative shall be permitted to, and shall have the authority to cause the Company to, discontinue at any time any Liquidity Event. Under no circumstances shall this Section 7.07 be construed to grant to any Member any dissenter’s rights or appraisal rights (it being understood and agreed by the Members that each Member shall waive any dissenter’s rights or appraisal rights to which such Member may be entitled in connection with such Liquidity Event).

ARTICLE 8

TAXES

8.01 Tax Returns. The Managing Member shall prepare and timely file (on behalf of the Company) all federal, state, and local tax returns required to be filed by the Company and its subsidiaries. Each Member shall furnish to the Managing Member all pertinent information in its possession relating to the Company’s operations that is necessary to enable the Company’s tax returns to be timely prepared and filed. The Company shall bear the costs of the preparation and

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filing of its returns. Within seventy-five (75) days after the end of each calendar year, the Company shall provide estimated federal, state and local income tax information and schedules as may be necessary for tax reporting purposes or reasonably, including Internal Revenue Service Schedule K-1, and shall provide final information on or about July 31 of each calendar year. The Company shall promptly provide any other tax information reasonably requested by each Member with respect to such year.

8.02 Certain Tax Matters.

(a) The Company shall make the following elections on the appropriate tax returns:

(i) to adopt as the Company’s fiscal year the calendar year;

(ii) to adopt the accrual method of accounting;

(iii) if a distribution of the Company’s property occurs as described in Section 734 of the Code or upon a transfer of Membership Interest as described in Section 743 of the Code, on request by notice from any Member, to elect, pursuant to Section 754 of the Code (such election, a “Section 754 Election”), to adjust the basis of the Company’s properties;

(iv) to elect to deduct or amortize the organizational expenses of the Company in accordance with Section 709(b) of the Code; and

(v) subject to Section 6.03(m), any other election the Managing Member may deem appropriate.

(b) Neither the Company nor any Member shall make an election for the Company or any of its direct or indirect subsidiaries to be (i) subject to tax as an association for U.S. federal income tax purposes or (ii) excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law, and no provision of this Agreement shall be construed to sanction or approve such an election.

(c) Any Tax refund (including any interest in respect thereof) received by the Company that relates to Pre-Closing Tax Liabilities shall be for the account of the NEP Member, and the Company shall pay over to the NEP Member any such refund promptly after receipt.

(d) The Members agree that, for U.S. federal income Tax purposes, (i) any purchase of Class B Units by the NEP Member (other than a purchase pursuant to which the NEP Member becomes the owner of 100% of the Membership Interests in the Company (such purchase, the “Final Purchase”)) shall be treated as the purchase of a partnership interest in the Company in a transaction described in Section 741 of the Code, and the Company shall have a Section 754 Election in place for the taxable year in which the first such purchase occurs, and (ii) the Final Purchase shall be treated as described in Revenue Ruling 99-6, Situation 1.

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8.03 Partnership Representative. (a) The Managing Member shall serve as the “partnership representative” of the Company within the meaning of Section 6223(a) of the Code (the “Partnership Representative”). The Partnership Representative shall inform each other Member of all material matters that may come to its attention in its capacity as the Partnership Representative by giving notice thereof on or before the fifth (5^th) Business Day after becoming aware thereof and, within that time, shall forward to each other Member copies of all material written communications it may receive in that capacity. The Managing Member is hereby directed and authorized to take whatever steps it, in its reasonable discretion, deems necessary or desirable to perfect such designation, including filing any forms or documents with the IRS, designating an individual to serve as the sole individual through whom the Partnership Representative will act, and taking such other action as may from time to time be required under the Treasury Regulations. The Managing Member will remain as the Partnership Representative so long as it serves as Managing Member, unless it requests that it not serve as Partnership Representative; provided, however, that, notwithstanding the foregoing, the Managing Member shall not be permitted to resign unless and until the Members have found a replacement Partnership Representative approved unanimously in writing by the Members.

(b) The Partnership Representative may, in its reasonable discretion, make the election provided by Section 6221(b) of the Code to have Subchapter C of Chapter 63 of the Code not apply (the “Election Out”).

(c) If the Internal Revenue Service proposes an adjustment in the amount of any item of income, gain, loss, deduction, or credit of the Company, or any Member’s (or former Member’s) distributive share thereof, and such adjustment results in an “imputed underpayment” as described in Section 6225(b) of the Code (a “Covered Audit Adjustment”), the Partnership Representative may (but shall not be required to) elect, to the extent that such election is available (taking into account whether the Partnership Representative has received any needed information on a timely basis from the Members and former Members, if applicable), and the Election Out was not previously made, to apply the alternative method provided by Section 6226 of the Code (the “Alternative Method”). To the extent that the Partnership Representative does not elect the Alternative Method with respect to a Covered Audit Adjustment, the Partnership Representative shall use commercially reasonable efforts to (a) request information necessary to, and to make any modifications available under Sections 6225(c) of the Code to the extent that such modifications are available (taking into account whether the Partnership Representative has received any needed information on a timely basis from the Members and former Members) as would, reduce any Company Level Taxes payable by the Company with respect to the Covered Audit Adjustment, and (b) if requested by a Member, provide to such Member information allowing such Member to file an amended U.S. federal income tax return, as described in Section 6225(c)(2) of the Code, to the extent that such amended return and payment of any related U.S. federal income taxes would reduce any Company Level Taxes payable by the Company with respect to the Covered Audit Adjustment (after taking into account any modifications described in clause (a)). Similar procedures shall be followed in connection with any state or local income tax audit that incorporates rules similar to Subchapter C of Chapter 63 of the Code.

(d) Notwithstanding any provision of this Agreement to the contrary, any taxes, penalties, and interest payable under the Subchapter C of Chapter 63 of the Code by the

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Company (“Company Level Taxes”) shall be treated as attributable to the Members (and former Members if applicable) of the Company, and the Partnership Representative shall cause the Company to allocate the burden of any such Company Level Taxes to those Members (and former Members if applicable) to whom such amounts are reasonably attributable (whether as a result of their status, actions, inactions, or otherwise), taking into account the effect of any modifications described in Section 8.03(d) that reduce the amount of Company Level Taxes. All Company Level Taxes allocated to a Member (or a former Member if applicable), at the option of the Managing Member, shall (i) be promptly paid to the Company by such Member (or former Member if applicable) (“Option A”) or (ii) be paid by reducing the amount of the current or next succeeding distribution or distributions which would otherwise have been made to such Member pursuant to Section 5.01 or Section 5.02 and, if such distributions are not sufficient for that purpose, by reducing the proceeds of liquidation otherwise payable to such Member pursuant to Section 5.03 (“Option B”). If the Managing Member selects Option A, the Company’s payment of the Company Level Taxes allocated to the applicable Member (or former Member if applicable) shall be treated as a distribution to such Member (or former Member) and the payment by such Member (or former Member) to the Company shall be treated as a capital contribution for U.S. federal income tax purposes; provided that such payments shall not affect the Capital Accounts of, any other contributions to be made by, or the distributions and allocations to be made to the applicable Members (or former Member) under this Agreement. If the Managing Member selects Option B, the applicable Member shall for all purposes of this Agreement be treated as having received a distribution of the amount of its allocable share of the Company Level Taxes at the time such Company Level Taxes are paid by the Company. To the fullest extent permitted by applicable Law, each Member (whether or not such Member becomes a Member after the Effective Date) hereby agrees to indemnify and hold harmless the Company and the other Members (or former Members if applicable) from and against any liability for Company Level Taxes allocated to such Member in accordance with this Section 8.03(e) (including, with respect to any former Member, any Company Level Taxes allocated to such former Member that are attributable to taxable periods (or portions thereof) during which such former Member was treated as holding an interest in the Company).

(e) If any Member intends to file a notice of inconsistent treatment under Section 6222(c) of the Code, such Member shall give reasonable notice under the circumstances to the other Members of such intent and the manner in which the Member’s intended treatment of an item is (or may be) inconsistent with the treatment of that item by the other Members.

ARTICLE 9

BOOKS, RECORDS, REPORTS, INFORMATION UPDATES, AND BANK ACCOUNTS

9.01 Maintenance of Books.

(a) The Managing Member shall keep or cause to be kept at the principal office of the Company or at such other location it deems necessary or appropriate complete and accurate books and records of the Company, including all books and records necessary to provide to the Members any information required to be provided pursuant to Section 3.07, Section 9.02 and Section 9.03, supporting documentation of the transactions with respect to the conduct of the

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Company’s business, and minutes of the proceedings of its Members and the Managing Member, and any other books and records that are required to be maintained by applicable Law.

(b) The books of account of the Company shall be (i) maintained on the basis of a fiscal year that is the calendar year and (ii) maintained on an accrual basis in accordance with GAAP; provided that the Members’ Capital Accounts shall be maintained in accordance with Article 4 and Article 5.

9.02 Determination of Internal Rate of Return.

(a) Quarterly Determinations. For so long as the Class B Units are held by the GEPIF Investor or its Affiliates, the Managing Member will (i) calculate at least quarterly the Internal Rate of Return achieved by the GEPIF Investor and (ii) send the GEPIF Investor, within forty-five (45) days after the end of each Quarter, a report in the form of the IRR Report showing the Internal Rate of Return as of such date. The Managing Member will make its advisors available to answer any questions regarding the calculations contained in any such IRR Report.

(b) Calculation Rules and Conventions. The Managing Member will employ the following calculation rules and conventions in determining the Internal Rate of Return of a Class B Member:

(i) Continuity of Ownership. The Managing Member will treat ownership of the Class B Units as being continuous from the Effective Date to the date as of which the calculation is being made without regard to any change in ownership of the Class B Units during such period.

(ii) Cash Flows. The “Cash Flows” taken into account in determining the Internal Rate of Return with respect to each Class B Unit shall consist solely of (A) the sum of (x) the amount of the Effective Date Capital Contribution per Class B Unit made by the applicable Class B Member in exchange for such Class B Unit on the Effective Date (provided, that for the avoidance of doubt, such Effective Date Capital Contribution shall not be reduced by any amount by which the Reimbursable Fee is used to offset amounts to be funded by the Class B Members), (y) any additional Capital Contributions made by such Class B Member pursuant to Section 4.04 in respect of such Class B Unit, and (z) all distributions to the applicable Class B Member pursuant to Section 5.01 and Section 5.02 (provided that, for the avoidance of doubt, “Cash Flows” shall not include any payment of the Reimbursable Fee to the Class B Members or their Affiliates pursuant to Section 2.07(b)(i)(3) of the Purchase Agreement). Any amount received by the Class B Members that is in the nature of a recovery or replacement of, or indemnity or compensation for, and is the substantial economic equivalent of, an item that would otherwise be taken into account in the foregoing clauses (x), (y), or (z) (which for the avoidance of doubt, will not include any recovery or replacement of, or indemnity or compensation for, actual out-of-pocket losses, costs, or expenses of the Class B Members) will be deemed received for purposes of the calculation of the Internal Rate of Return on the date so received by such Class B Member (or its nominee).

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(c) Any dispute by a Class B Member of any item or procedure or calculation of, or which affects, the achievement of the Internal Rate of Return contained in any notice or report delivered to the Class B Members will be disputed in accordance with the dispute resolution mechanism set forth in Article 11.

9.03 Reports.

(a) The Managing Member shall deliver to each Member any report, financial statements, or other information (i) that is distributed to the Company or its subsidiaries by Transco under the Meade Construction and Ownership Agreement, including pursuant to Sections 2.1(c) and 2.5(c) of the Meade Construction and Ownership Agreement, or any related agreement or promptly following the Company’s or its subsidiaries’ receipt thereof or (ii) that is provided by the Company or its Subsidiaries to any lenders under the Term Loan Agreement.

(b) The cost of distributing any information pursuant to this Section 9.03 shall be borne by the Company.

9304 Information Updates.

(a) The Managing Member shall notify the Class B Members of the occurrence of any Emergency or material risk of Emergency, material developments, or events that would or would reasonably be likely to adversely affect the Company or any of its subsidiaries, and any breaches (or breaches threatened in writing) of any Affiliate Transactions, Williams Agreements, or other material contracts to which the Company or any of its subsidiaries is a party, including (for the avoidance of doubt) any breach or threatened breach of any representation, warranty, covenant, or agreement under the Purchase Agreement or the Meade Purchase and Sale Agreement. The Managing Member shall provide notice of the foregoing events promptly, but in no event more than two (2) Business Days following the date on which the Managing Member becomes aware of such events.

(b) From and after the Effective Date, as requested by the Class B Member Representative upon reasonable advance notice, and at reasonable times during usual business hours and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its subsidiaries, the Managing Member will make employees and representatives of the Company and its subsidiaries available to answer questions regarding the performance of the business of the Company and its subsidiaries.

9.05 Bank Accounts. The Company shall establish and maintain one or more separate bank and investment accounts and arrangements for Company funds in the Company’s name with such financial institutions and firms as the Managing Member may determine. Funds of the Company shall be deposited in such banks or other depositories as shall be designated from time to time by the Managing Member. The Company’s funds may not be commingled with the funds of any other Person. All withdrawals from any such depository shall be made only as authorized by the Managing Member and shall be made only by check, wire transfer, debit memorandum, or other written instruction.

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ARTICLE 10

WITHDRAWAL

10.01 No Right of Voluntary Withdrawal. A Member has no power or right to voluntarily Withdraw from the Company without the prior written consent of all remaining Members, in their sole and absolute discretion.

10.02 Deemed Withdrawal. A Member is deemed to have Withdrawn from the Company if such Member dissolves and commences liquidation or winding-up or if it is unlawful for a Member to continue to be a Member. If there occurs an event that makes it unlawful for a Member to continue to be a Member, then the Members shall negotiate in good faith to determine a workaround to allow such Member to continue to be, or to receive the benefits of being, a Member.

10.03 Effect of Withdrawal. A Member that is deemed to have Withdrawn pursuant to Section 10.02 (a “Withdrawn Member”) must comply with the following requirements in connection with its deemed Withdrawal:

(a) The Withdrawn Member ceases to be a Member immediately upon the occurrence of the applicable Withdrawal event.

(b) The Withdrawn Member shall not be entitled to receive any distributions from the Company except as set forth in Section 10.03(e), to exercise any voting or consent rights, or to receive any further information (or access to information) from the Company. The Unreturned Contribution Percentage of such Withdrawn Member shall not be taken into account in calculating the Unreturned Contribution Percentages of the remaining Members for any purposes of this Agreement.

(d) The Withdrawn Member shall remain obligated for all liabilities it may have under this Agreement or otherwise with respect to the Company that accrued prior to the Withdrawal.

(e) The Withdrawn Member shall (i) have the status of only an Assignee, and not a Member, and (ii) be entitled to receive, in such capacity, its share of the Net Profits and Net Losses of the Company and to receive its portion of each distribution that is made by the Company pursuant to Section 5.01, Section 5.02, and Section 5.03 as if it held the Membership Interest held immediately prior to its Withdrawal. From the date of the Withdrawal to the date on which the Company is dissolved and its affairs wound up in accordance with Article 12, the former Capital Account balance of the Withdrawn Member shall be recorded as a contingent obligation of the Company, and not as a Capital Account. The rights of a Withdrawn Member under this Section 10.03(e) shall (A) be subordinate to the rights of any other creditor of the Company, (B) not include any right on the part of the Withdrawn Member to receive any interest or other amounts with respect thereto (except as may otherwise be provided in the evidence of any

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Indebtedness of the Company owed to such Withdrawn Member); (C) not require any Member to make a Capital Contribution or a loan to permit the Company to make a distribution or otherwise to pay the Withdrawn Member; and (D) be treated as a liability of the Company for purposes of Section 12.02.

(f) Except as set forth in Section 10.03(e), a Withdrawn Member shall not be entitled to receive any return of its Capital Contributions or other payment from the Company in respect of its Membership Interest.

(g) The Unreturned Contribution Percentage of the remaining Members shall be amended to reflect the Withdrawal of the Withdrawn Member, and such Withdrawn Member’s Class A Units or Class B Units, as applicable, shall be deemed cancelled and extinguished.

(h) All costs and expenses incurred by the Withdrawn Member in connection with its Withdrawal shall be borne by such Withdrawn Member, and the Withdrawn Member shall reimburse all other Members for all costs and expenses incurred by such Members in connection with such Withdrawal.

ARTICLE 11

DISPUTE RESOLUTION

11.01 Disputes. This Article 11 shall apply to any dispute arising under or related to this Agreement (whether arising in contract, tort, or otherwise, and whether arising at Law or in equity), including (a) any dispute regarding the construction, interpretation, performance, validity, or enforceability of any provision of this Agreement or whether any Person is in compliance with, or breach of, any provisions of this Agreement, and (b) subject to Section 11.02, any deadlock among the Members with respect to any matter subject to a vote of the Members, and (c) the applicability of this Article 11 to a particular dispute. Notwithstanding the foregoing, this Article 11 shall not apply to any matters that, pursuant to the provisions of this Agreement, are to be determined solely by the Managing Member. Any dispute to which this Article 11 applies is referred to herein as a “Dispute.” With respect to a particular Dispute, each Member that is a party to such Dispute is referred to herein as a “Disputing Member.” The provisions of this Article 11 shall be the exclusive method of resolving Disputes.

11.02 Negotiation to Resolve Disputes. If a Dispute arises, the Disputing Members (or agents thereof) shall promptly meet (whether by telephone or in person) in a good faith attempt to resolve the Dispute.

11.03 Courts. If a Dispute is still unresolved following ten (10) Business Days after the Disputing Members attempted in good faith to resolve the Dispute in accordance with Section 11.02, then any of such Disputing Members may submit such Dispute to the Court of Chancery of the State of Delaware or, in the event that such court does not have jurisdiction over the subject matter of such dispute, to another court of the State of Delaware or a U.S. federal court located in the State of Delaware (collectively, “Delaware Courts”). Each of the Members irrevocably submits to the exclusive jurisdiction of, and agrees not to commence any action, suit, or proceeding relating to a Dispute except in, the Delaware Courts and hereby consents to service

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of process in any such Dispute by the delivery of such process to such party at the address and in the manner provided in Section 13.01. Each of the Members hereby irrevocably and unconditionally waives any objection to the laying of venue in any Dispute in the Delaware Courts and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any action, suit, or proceeding brought in any such court has been brought in an inconvenient forum. EACH MEMBER IRREVOCABLY WAIVES, to the fullest extent permitted by applicable law, any right it may have to a TRIAL BY JURY IN ANY ACTION, suit, OR PROCEEDING arising out of, relating to or otherwise WITH RESPECT TO THIS AGREEMENT or any transaction contemplated hereby.

11.04 Specific Performance. The Members understand and agree that (a) irreparable damage would occur in the event that any provision of this Agreement were not performed in accordance with its specific terms, (b) although monetary damages may be available for the breach of such covenants and agreements such monetary damages are not intended to and do not adequately compensate for the harm that would result from a breach of this Agreement, would be an inadequate remedy therefor and shall not be construed to diminish or otherwise impair in any respect any Member’s or the Company’s right to specific performance, and (c) the right of specific performance is an integral part of the transactions contemplated by this Agreement and without that right none of the Members would have entered into this Agreement. It is accordingly agreed that, in addition to any other remedy that may be available to it, including monetary damages, each of the Members and the Company shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement. Each of the Members further agrees that neither the Company nor any Member shall be required to obtain, furnish, or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this Section 11.04, and each Member waives any objection to the imposition of such relief or any right it may have to require the obtaining, furnishing, or posting of any such bond or similar instrument.

ARTICLE 12

DISSOLUTION, WINDING-UP AND TERMINATION

12.01 Dissolution. The Company shall dissolve and its affairs shall be wound up on the first to occur of the following events (each a “Dissolution Event”):

(a) consent of NEP Member and Class B Member Approval; or

(b) an event that makes it unlawful for the business of the Company to be carried on; provided that, if such an event occurs, then the Members shall negotiate in good faith to determine a workaround to allow the business of the Company to be lawfully carried on and such event shall not be deemed a “Dissolution Event” unless and until the Members mutually agree that no such workaround is reasonably feasible.

Each Member hereby waives its right to make an application for the dissolution of the Company pursuant to Section 18-802 of the Act.

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12.02 Winding-Up and Termination. (a) On the occurrence of a Dissolution Event, the Managing Member shall, or shall designate another Person to, serve as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding-up shall be borne as a Company expense. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the Members. The steps to be accomplished by the liquidator are as follows:

(i) as promptly as possible after dissolution and again after final winding-up, the liquidator shall cause a proper accounting to be made by a recognized firm of certified public accountants of the liquidator’s choosing of the Company’s assets, liabilities, and operations through the last calendar day of the month in which the dissolution occurs or the final winding-up is completed, as applicable;

(ii) the liquidator shall discharge from Company funds all of the Indebtedness of the Company and other debts, liabilities, expenses, and obligations of the Company (including all expenses incurred in winding-up and any loans described in Section 4.05) or otherwise make adequate provision for payment and discharge thereof (including the establishment of a cash escrow fund for contingent liabilities in such amount and for such term as the liquidator may reasonably determine); and

(iii) all remaining assets of the Company shall be distributed to the Members as follows:

(A) the liquidator may sell any or all Company property, including to Members, and any resulting gain or loss from each sale shall be computed and allocated to the Capital Accounts of the Members in accordance with Section 12.02(b);

(B) with respect to all Company property that has not been sold, the fair market value of that property shall be determined and the Capital Accounts of the Members shall be adjusted to reflect the manner in which the unrealized income, gain, loss, and deduction inherent in property that has not been reflected in the Capital Accounts previously would be allocated among the Members if there were a taxable disposition of that property for the fair market value of that property on the date of distribution, as determined by the Managing Member in its reasonable discretion (it being agreed by the Members that a determination by the Managing Member that the fair market value of any such property equals the value of such property reflected in current financial statements prepared in accordance with GAAP shall be deemed reasonable); and

(C) Company property (including cash) shall be distributed among the Members in accordance with Section 5.03; and those distributions shall be made before the end of the taxable year in which

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liquidation of the Company occurs or, if later, within 90 days after the date of the liquidation of the Company.

(iv) If, after giving effect to all allocations, distributions and contributions for all periods (other than those required by this Section 12.02(a)(iv)), the NEP Member has a deficit in its Capital Account balance following the “liquidation,” within the meaning of Treasury Regulation Section 1.704-1(b)(2)(ii)(g), of the NEP Member’s Membership Interest, the NEP Member will be obligated to contribute cash to the Company in an amount equal to such deficit balance by the end of the Fiscal Year of the Company during which the liquidation of the Company occurs, or if later, within ninety (90) days after the date of such liquidation, except that the restoration obligation of the NEP Member in the aggregate pursuant to this Section 12.02(a)(iv) shall not be more than one percent (1%) of the NEP Member’s Effective Date Capital Contribution. Notwithstanding the foregoing, (A) the NEP Member will have the unilateral right by written notice to the Managing Member to (1) increase the amount of its deficit restoration obligation over the amount described in the immediately preceding sentence or (2) decrease the amount of, or eliminate, its deficit restoration obligation at any time in accordance with Treasury Regulation Section 1.704-1(b)(2)(ii)(f); (B) after the Flip Date, at the end of any Fiscal Year in which the NEP Member’s deficit restoration obligation exceeds the absolute value of the NEP Member’s deficit Capital Account balance, such deficit restoration obligation shall be automatically reduced in accordance with Treasury Regulation Section 1.704-1(b)(2)(ii)(f) to equal such absolute value; and (C) the NEP Member’s deficit restoration obligation will be eliminated in accordance with Treasury Regulation Section 1.704-1(b)(2)(ii)(f) on the first date on or after the Flip Date on which the Capital Account balance of the NEP Member is equal to or greater than zero. Notwithstanding anything to the contrary contained herein, no other Member shall have any obligation to restore any deficit in its Capital Account balance unless and until such deficit restoration obligation is consented to in writing by the Managing Member.

(b) Notwithstanding anything in Section 5.04 to the contrary, in the Fiscal Year or other applicable period in which a Dissolution Event occurs, items of income, gain, loss, and deduction shall be allocated among the Members in a manner such that the Capital Account of each Member, immediately after giving effect to such allocation, is, as nearly as possible, equal (proportionately) to the amount of the distributions that would be made to such Member pursuant to Section 5.03.

(c) The distribution of cash or property to a Member in accordance with the provisions of this Section 12.02 constitutes a complete return to the Member of its Capital Contributions and a complete distribution to the Member of its Membership Interest and all the Company’s property and constitutes a compromise to which all Members have consented pursuant to Section 18-502(b) of the Act. To the extent that a Member returns funds to the Company, it has no claim against any other Member for those funds.

(d) No dissolution or termination of the Company shall relieve a Member from any obligation to the extent such obligation has accrued as of the date of such dissolution or termination. Upon such termination, any books and records of the Company that the liquidator

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reasonably determines may ever be needed again by one or more Persons who were Members as of the dissolution or termination shall be retained by the Managing Member or its designee, who shall keep such books and records (subject to review by any Person that was a Member at the time of dissolution) for a period at least three (3) years. After the expiration of such period of three (3) years, if the Managing Member (or its designee) no longer agrees to keep such books and records, it shall offer the Persons who were Members at the time of dissolution or termination a reasonable opportunity to take over such custody and (i) shall deliver such books and records to such Persons if they elect to take over such custody (or as all of such Persons otherwise direct) and, upon request by any other Person that elects to take custody (and at such other Person’s cost), deliver a copy of such books and records to such other Person, or (ii) may destroy such books and records if no such Person so elects.

12.03 Deficit Capital Accounts. Except as provided in Section 12.02(a)(iv), no Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in its or another Member’s Capital Account.

12.04 Certificate of Cancellation. On completion of the distribution of Company assets as provided herein, the Managing Member (or such other Person or Persons as the Act may require or permit) shall file a certificate of cancellation with the Secretary of State of the State of Delaware, cancel any other filings made pursuant to Section 2.06, and take such other actions as may be necessary to terminate the existence of the Company. Upon the filing of such certificate of cancellation, the existence of the Company shall terminate (and the Term shall end), except as may be otherwise provided by the Act or other applicable Law.

ARTICLE13

GENERAL PROVISIONS

13.01 Notices. Except as expressly set forth to the contrary in this Agreement, all notices, requests, or consents provided for or permitted to be given under this Agreement must be in writing and must be delivered to the recipient by electronic mail, in person or by courier or mail. A notice, request, or consent given under this Agreement is effective on receipt by the applicable Member. All notices, requests, and consents to be sent to a Member must be sent to or made at the addresses given for that Member on Exhibit A or such other address as that Member may specify by notice to the Managing Member and the other Members. Any notice, request, or consent to the Company must be given to all of the Members. Whenever any notice is required to be given by Law, the Delaware Certificate, or this Agreement, a written waiver thereof, signed by the Person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.

13.02 Entire Agreement; Superseding Effect. This Agreement and the other Transaction Documents (as that term is defined in the Purchase Agreement) constitutes the entire agreement of the Members and their Affiliates relating to the Company and the transactions contemplated hereby and supersedes all provisions and concepts contained in all prior agreements.

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13.03 Effect of Waiver or Consent. Except as otherwise provided in this Agreement, a waiver or consent, express or implied, to or of any breach or default by any Member in the performance by that Member of its obligations with respect to the Company is not a consent or waiver to or of any other breach or default in the performance by that Member of the same or any other obligations of that Member with respect to the Company. Except as otherwise provided in this Agreement, failure on the part of a Member to complain of any act of any Member or to declare any Member in default with respect to the Company, irrespective of how long that failure continues, does not constitute a waiver by that Member of its rights with respect to that default until the applicable statute of limitations has run.

13.04 Amendment or Restatement. Each of this Agreement and the Delaware Certificate may, subject to Section 6.03(a) and Section 7.07(b), be amended or restated only by a written instrument executed (or, in the case of the Delaware Certificate, approved) by the Managing Member. Notwithstanding the foregoing, (a) the Managing Member may amend this Agreement without the approval of any Members (i) to implement the valid admission of New Members or Assignees as Members; (ii) to correct typographical, formatting, cross-referencing, or other similar errors; and (iii) to update Exhibit A from time to time to reflect the valid admission of New Members, the valid admission of Assignees as Members, the making of additional Capital Contributions by Members, the issuances of Class A Units, Class B Units, or other classes or groups of Membership Interests, and the Disposition of Membership Interests, so long as such transactions were approved and consummated in accordance with the terms of this Agreement; and (b) if the Managing Member determines that any amendment of this Agreement is necessary to satisfy any Law, the Members shall negotiate in good faith to enter into an amendment of this Agreement to satisfy such Law that is mutually agreeable.

13.05 Binding Effect. Subject to the restrictions on Dispositions set forth in this Agreement, this Agreement is binding on and shall inure to the benefit of the Members and their respective successors and permitted assigns.

13.06 Governing Law; Severability. THIS AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, EXCLUDING ANY CONFLICT-OF-LAWS RULE OR PRINCIPLE THAT MIGHT REFER THE GOVERNANCE OR THE CONSTRUCTION OF THIS AGREEMENT TO THE LAW OF ANOTHER JURISDICTION. In the event of a direct conflict between the provisions of this Agreement and any mandatory, non-waivable provision of the Act, such provision of the Act shall control. If any provision of the Act provides that it may be varied or superseded in a limited liability company agreement (or otherwise by agreement of the members or managers of a limited liability company), such provision shall be deemed superseded and waived in its entirety if this Agreement contains a provision addressing the same issue or subject matter. If any provision of this Agreement or the application thereof to any Member or circumstance is held invalid or unenforceable to any extent, (a) the remainder of this Agreement and the application of that provision to other Members or circumstances is not affected thereby, and (b) the Members shall negotiate in good faith to replace that provision with a new provision that is valid and enforceable and that puts the Members in substantially the same economic, business, and legal position as they would have been in if the original provision had been valid and enforceable.

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13.07 Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Member shall execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and those transactions; provided, however, that this Section 13.07 shall not obligate a Member to furnish guarantees or other credit supports by such Member’s Parent or other Affiliates.

13.08 Article 8 of the Uniform Commercial Code. No Class B Member may elect to cause any Membership Interest or other equity interest held by a Class B Member to constitute a “security” within the meaning of Article 8 of the Uniform Commercial Code as in effect from time to time in the State of Delaware or Article 8 of the Uniform Commercial Code of any other applicable jurisdiction.

13.09 Waiver of Certain Rights. Each Member irrevocably waives any right it may have to maintain any action for dissolution of the Company or for partition of the property of the Company.

13.10 Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all signing parties had signed the same document. All counterparts shall be construed together and constitute the same instrument.

13.11 Expenses. Except as otherwise provided in Section 7.06 and Section 7.07, each Member shall bear its own transaction costs and any other costs and expenses incurred in connection with being a Member, holding its Membership Interest, and administering its rights and obligations under this Agreement.

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13.12 Appointment of Class B Member Representative.

(a) By the execution and delivery of this Agreement (or any joinder or counterpart thereto), each Class B Member hereby irrevocably constitutes and appoints the Class B Member Representative as the true and lawful agent and attorney-in-fact of such Class B Member, with full power of substitution to act jointly in the name, place, and stead of the Class B Member to act on behalf of such Class B Member in any litigation or arbitration involving this Agreement, to do or refrain from doing all such further acts and things, and to execute all such documents as the Class B Member Representative shall deem necessary or appropriate in connection with the transactions contemplated by this Agreement, including the power to (i) execute and deliver all amendments, waivers, ancillary agreements, certificates, and documents that the Class B Member Representative deems necessary or appropriate in connection with the consummation of the transactions contemplated by this Agreement, (ii) grant any and all approvals or consents on behalf of Class B Members pursuant to this Agreement, and any and all other matters requiring the consent or approval of the Class B Members under this Agreement or any other agreement, instrument, or document contemplated hereby or in connection with the Class B Units, other than any such matter that requires the consent of any particular Class B Member, (iii) receive funds, make payments of funds, and withhold a portion of any amounts to be paid to the Class B Members hereunder or any other payments to be made by or on behalf of the Class B Members pursuant to this Agreement, including amounts required to pay the fees and expenses of professionals incurred by the Class B Members in connection with the transactions contemplated by this Agreement, (iv) do or refrain from doing any further act or deed on behalf of the Class B Members that the Class B Member Representative deems necessary or appropriate in its sole discretion relating to the subject matter of this Agreement, and (v) receive service of process in connection with any claims under this Agreement. GEPIF Investor is hereby appointed as the initial Class B Member Representative.

(b) The appointment of the Class B Member Representative hereunder shall be deemed coupled with an interest and shall be irrevocable, and survive the death, incompetence, bankruptcy or liquidation of any Class B Member and shall be binding on any successor thereto; provided, however, that the Class B Member Representative's appointment hereto shall terminate automatically when the Class B Member Representative is no longer the record owner of any Class B Units or is no longer the managing member or general partner that Controls a Class B Member that owns Class B Units. GEPIF Investor shall have the right to designate a successor Class B Member Representative upon written notice delivered to the Managing Member; provided that the Person appointed to serve as successor Class B Member Representative must be a record owner of Class B Units or the managing member or general partner that Controls a Class B Member that owns Class B Units. The Class B Members hereby confirm all that the Class B Member Representative shall do or cause to be done by virtue of its appointment hereby as the Class B Member Representative. All actions taken by the Class B Member Representative under this Agreement shall be binding upon each Class B Member and such Class B Member's successors as if expressly confirmed and ratified in writing by such Class B Member, and all defenses that may be available to any Class B Member to contest, negate, or disaffirm the action of the Class B Member Representative taken in good faith under this Agreement are waived.

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(c) The Company, NEP Member, NEP, and any other Person may conclusively and absolutely rely, without inquiry and without any liability whatsoever, upon any action of the Class B Member Representative in all matters referred to herein, including that the Class B Member Representative has obtained any prior approval or consent of the Class B Members as may be required, under this Agreement or otherwise, to take any such action. Neither the Company, NEP Member, NEP, nor any other Person will be liable to any Class B Member, any of Affiliate thereof, or any other Person as a result of, in connection with, or relating to the performance of the Class B Member Representative's duties and obligations under this Agreement, including with respect to any errors in judgment, negligence, oversight, breach of duty, or otherwise of the Class B Member Representative.

[Remainder of page intentionally left blank. Signature page follows.]

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IN WITNESS WHEREOF, the Members have executed and delivered this Agreement as of the date first set forth above.



MEMBERS:

NEXTERA ENERGY PARTNERS PIPELINES
HOLDINGS, LLC

By:
	Name: Title:

	Solely with respect to its obligations pursuant to Section 4.04(b), Section 4.04(c), Section 6.09, Section 7.02, Section 7.03, Section 7.04, and Section 7.05:

	NEXTERA ENERGY PARTNERS, LP

By:
	Name:
	Title:

[Signature Page to Amended and Restated Limited Liability Company Agreement of

NextEra Energy Partners Pipelines, LLC]

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IN WITNESS WHEREOF, the Members have executed and delivered this Agreement as of the date first set forth above.



GEPIF III MEADE INVESTCO, L.P.

GEPIF III Meade Investco, L.P. in its capacity as a
Class B Member and as the Class B Member
Representative

By:	GEPIF III InvestCo 2 GP, LLC, its general
	partner

By:	Global Energy & Power Infrastructure Fund
	II, L.P., its sole member

By:	Global Energy & Power Infrastructure GP III,
	L.P., its general partner

By:	GEPIF III (GenPar), LLC, its general partner

By:	BlackRock Infrastructure Master Carry, L.P. -
	GEPIF III Series, its sole member

By:	BlackRock Financial Management, Inc., its
	general partner

By:
	Name:
	Title:

[Signature Page to Amended and Restated Limited Liability Company Agreement of

NextEra Energy Partners Pipelines, LLC]

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EXHIBIT A

MEMBERS



Name and Address of Purchaser	Capital Contributions	Number and Class of Membership Interest	Class A Percentage Interest	Class B Percentage Interest
NextEra Energy Partners Pipelines Holdings, LLC c/o NextEra Energy Partners, LP 700 Universe Boulevard Juno Beach, Florida 33408 Attention: Treasurer and Daniel Lotano E-mail: Daniel.Lotano@nexteraenergy.com	$[343,000,000]²¹	1,000,000 Class A Units	100%	0%
GEPIF III Meade Investco, L.P. c/o Global Energy & Power Infrastructure Funds One Lafayette Place, 3rd Floor Greenwich, CT 06830 Attention: Matt Raben Email: matthew.raben@blackrock.com with a copy to (which alone shall not constitute notice): BlackRock, Inc. Office of the General Counsel 40 East 52nd Street, 19th floor New York, NY 10022 Attention: Jelena Napolitano and David Maryles Email: legaltransactions@blackrock.com	$168,000,000	1,000 Class B Units	0%	100%

²¹ NTD - Subject to adjustment for any purchase price adjustment pursuant to the Meade Purchase and Sale

Agreement.

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FORM OF

FIFTH AMENDED AND RESTATED

AGREEMENT OF LIMITED PARTNERSHIP

NEXTERA ENERGY PARTNERS, LP

A Delaware Limited Partnership

Dated as of

[•], 2019

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TABLE OF CONTENTS
		Page
ARTICLE I DEFINITIONS

Section 1.1	Definitions	1
Section 1.2	Construction	20

ARTICLE II ORGANIZATION

Section 2.1	Formation	20
Section 2.2	Name	21
Section 2.3	Registered Office; Registered Agent; Principal Office; Other Offices	21
Section 2.4	Purpose and Business	21
Section 2.5	Powers	22
Section 2.6	Term	22
Section 2.7	Title to Partnership Assets	22

ARTICLE III RIGHTS OF LIMITED PARTNERS

Section 3.1	Limitation of Liability	23
Section 3.2	Management of Business	23
Section 3.3	Rights of Limited Partners	23

ARTICLE IV CERTIFICATES; RECORD HOLDERS; TRANSFER OF PARTNERSHIP INTERESTS; REDEMPTION OF PARTNERSHIP INTERESTS

Section 4.1	Certificates	24
Section 4.2	Mutilated, Destroyed, Lost or Stolen Certificates	25
Section 4.3	Record Holders	25
Section 4.4	Transfer Generally	26
Section 4.5	Registration and Transfer of Limited Partner Interests	26
Section 4.6	Transfer of the General Partner’s General Partner Interest	28
Section 4.7	Restrictions on Transfers	28





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ARTICLE V CAPITAL CONTRIBUTIONS AND ISSUANCE OF PARTNERSHIP INTERESTS

Section 5.1	Capital Contributions	29
Section 5.2	Interest and Withdrawal	29
Section 5.3	Units	29
Section 5.4	Issuances of Additional Partnership Interests	30
Section 5.5	Limited Preemptive Right	31
Section 5.6	Splits and Combinations	33
Section 5.7	Fully Paid and Non-Assessable Nature of Limited Partner Interests	34
Section 5.8	Series A Preferred Units	34
Section 5.9	Non-Voting Common Units	50

ARTICLE VI DISTRIBUTIONS

Section 6.1	Distributions to Record Holders	56

ARTICLE VII MANAGEMENT AND OPERATION OF BUSINESS

Section 7.1	Management by Board of Directors	57
Section 7.2	Certificate of Limited Partnership	64
Section 7.3	Restrictions on the Partnership’s Authority to Sell Assets of the Partnership Group	64
Section 7.4	Reimbursement of the General Partner	65
Section 7.5	Outside Activities	66
Section 7.6	Loans from the General Partner; Loans or Contributions from the Partnership or Group Members	67
Section 7.7	Indemnification	67
Section 7.8	Liability of Indemnitees	69
Section 7.9	Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties	70
Section 7.10	Certain Additional Matters Requiring Consent of the General Partner	73
Section 7.11	Purchase or Sale of Partnership Interests	73
Section 7.12	Reliance	73

ARTICLE VIII BOOKS, RECORDS, ACCOUNTING AND REPORTS

Section 8.1	Records and Accounting	74
Section 8.2	Fiscal Year	74
Section 8.3	Reports	74



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ARTICLE IX TAX MATTERS

Section 9.1	Tax Characterizations, Elections and Information	75
Section 9.2	Withholding	75

ARTICLE X ADMISSION OF PARTNERS

Section 10.1	Admission of Limited Partners	76
Section 10.2	Admission of Successor General Partner	77
Section 10.3	Amendment of Agreement and Certificate of Limited Partnership	77

ARTICLE XI WITHDRAWAL OR REMOVAL OF PARTNERS

Section 11.1	Withdrawal of the General Partner	77
Section 11.2	Removal of the General Partner	78
Section 11.3	Interest of Departing General Partner and Successor General Partner	79
Section 11.4	Withdrawal of Limited Partners	80

ARTICLE XII DISSOLUTION AND LIQUIDATION

Section 12.1	Dissolution	81
Section 12.2	Continuation of the Business of the Partnership After Dissolution	81
Section 12.3	Liquidator	82
Section 12.4	Liquidation	82
Section 12.5	Cancellation of Certificate of Limited Partnership	83
Section 12.6	Return of Contributions	83
Section 12.7	Waiver of Partition	84

ARTICLE XIII AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS; RECORD DATE; VOTING

Section 13.1	Amendments to the Partnership Agreement	84
Section 13.2	Amendment Procedures	86
Section 13.3	Amendment Requirements	86
Section 13.4	Annual and Special Meetings	89
Section 13.5	Notice of a Meeting	92
Section 13.6	Record Date	92
Section 13.7	Postponement and Adjournment	93


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Section 13.8	Waiver of Notice of a Meeting	93
Section 13.9	Quorum and Voting	93
Section 13.10	Conduct of a Meeting	94
Section 13.11	Action Without a Meeting	95
Section 13.12	Right to Vote and Related Matters	95
Section 13.13	Reductions in Voting Power	95
Section 13.14	Special Voting Units	96

ARTICLE XIV MERGER, CONSOLIDATION OR CONVERSION

Section 14.1	Authority	97
Section 14.2	Procedure for Merger, Consolidation or Conversion	97
Section 14.3	Approval by Limited Partners	99
Section 14.4	Certificate of Merger or Certificate of Conversion	100
Section 14.5	Effect of Merger, Consolidation or Conversion	101

ARTICLE XV PROXY ACCESS FOR DIRECTOR NOMINATIONS

Section 15.1	General	102
Section 15.2	Timely Notice	102
Section 15.3	Number of Nominees	103
Section 15.4	Ownership Requirement for Eligibility to Make Nominations	103
Section 15.5	Ownership Amount and Period of Ownership	104
Section 15.6	Eligible Limited Partner’s Statement; Partnership’s Statement	106
Section 15.7	Nominee Information and Representations	106
Section 15.8	Disqualification of Limited Partner Nominees	107
Section 15.9	Effect of Breach of Agreements	108
Section 15.10	Obligation to File Soliciting and Communication Materials	108
Section 15.11	Authority for Implementation	108

ARTICLE XVI GENERAL PROVISIONS

Section 16.1	Addresses and Notices; Written Communications	109
Section 16.2	Binding Effect	110
Section 16.3	Integration	110
Section 16.4	Creditors	110
Section 16.5	Waiver	110
Section 16.6	Third-Party Beneficiaries	110
Section 16.7	Counterparts	110
Section 16.8	Applicable Law; Forum; Venue and Jurisdiction; Waiver of Trial by Jury	110
Section 16.9	Invalidity of Provisions	111


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Section 16.10	Consent of Partners	112
Section 16.11	Facsimile and Email Signatures	112











































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FIFTH AMENDED AND RESTATED AGREEMENT OF
LIMITED PARTNERSHIP OF NEXTERA ENERGY PARTNERS, LP

This FIFTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF NEXTERA ENERGY PARTNERS, LP, dated as of [●], 2019, is entered into by and between NextEra Energy Partners GP, Inc., a Delaware corporation, as the General Partner, and NextEra Energy Equity Partners, LP, a Delaware limited partnership, together with any other Persons who are or become Partners in the Partnership or parties hereto as provided herein. In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows:

ARTICLE I

DEFINITIONS

Section 1.1 Definitions. The following definitions shall be for all purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this Agreement.

“61-Day Converting Holder” means any Converting Holder that holds Non-Voting Common Units issued as consideration in connection with the exercise of a Qualified Call Option under a Qualified Agreement that provides for the conversion of Non-Voting Common Units into Common Units upon sixty-one (61) days’ prior written notice.

“Adjusted Percentage Interest” means as of any date of determination (a) as to any Unitholder with respect to Units, as the case may be, the product obtained by multiplying (i) one hundred percent (100%) less the percentage applicable to clause (b) below by (ii) the quotient obtained by dividing (A) the number of Units held by such Unitholder, as the case may be, by (B) the total number of all Outstanding Units and (b) as to the holders of other Partnership Interests issued by the Partnership in accordance with Section 5.4, the percentage established as a part of such issuance. In calculating the number of Units in clauses (A) and (B) above, the applicable number of Units shall include Outstanding Common Units and the Common Units that would be issued if all Series A Preferred Units and Non-Voting Common Units were converted to Common Units on such date of determination. The Adjusted Percentage Interest with respect to a Series A Preferred Unit shall only be defined by reference to the Adjusted Percentage Interest attributable to the Common Units into which such Series A Preferred Unit would be converted if conversion took place on such date of determination (whether or not such Series A Preferred Units were eligible for conversion at such time).

“Affected Director” has the meaning set forth in Section 7.1(d)(ii).

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. For purposes of the use of the term Group in Section 13.13, a Person will be deemed to “control” if such

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Person owns or controls, directly or indirectly, ten percent (10%) or more of the voting securities of the subject Person.

“Agreement” means this Fifth Amended and Restated Agreement of Limited Partnership of NextEra Energy Partners, LP, as it may be amended, supplemented or restated from time to time.

“Applicable Independence Standards” means the listing standards of the National Securities Exchange upon which the Common Units are listed, any applicable rules of the Commission and any publicly disclosed standards used by the Board of Directors, or a committee thereof, in determining and disclosing the independence of the Partnership’s Directors.

“Associate” means, when used to indicate a relationship with any Person, (a) any corporation or organization of which such Person is a director, officer, manager, general partner or managing member or is, directly or indirectly, the owner of ten percent (10%) or more of any class of voting stock or other voting interest, (b) any trust or other estate in which such Person has at least a ten percent (10%) beneficial interest or as to which such Person serves as trustee or in a similar fiduciary capacity and (c) any relative or spouse of such Person, or any relative of such spouse, who has the same principal residence as such Person.

“Attribution Parties” has the meaning set forth in Section 5.9(b)(v)(B).

“Audit Committee” means the committee of the Board of Directors composed of no fewer than three (3) Directors who shall meet the independence and experience requirements established by the Exchange Act and the rules and regulations of the Commission thereunder and by the National Securities Exchange on which the Common Units are listed or admitted to trading (or if no such National Securities Exchange, the New York Stock Exchange). At least one member of the Audit Committee shall be an “audit committee financial expert” as defined by rules of the Commission.

“Automatic Conversion Notice” has the meaning set forth in Section 5.9(b)(v)(A).

“Available Cash” means, with respect to any Quarter ending prior to the Liquidation Date:

(a) the sum of:

(i) all cash and cash equivalents of the Partnership on hand at the end of such Quarter; and

(ii) all cash and cash equivalents of the Partnership expected, on the date of determination of Available Cash with respect to such Quarter, to be received by the Partnership from distributions on OpCo Common Units, OpCo Non-Voting Common Units and OpCo Preferred Units by the Operating Partnership, in each case, made with respect to such Quarter subsequent to the end of such Quarter, less;

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(b) the amount of any cash reserves established by the Board of Directors to:

(i) provide for the proper conduct of the business of the Partnership subsequent to such Quarter, including the payment of income taxes by the Partnership; or

(ii) comply with applicable law or any loan agreement, security agreement, mortgage, debt instrument or other agreement or obligation to which the Partnership is a party or by which it is bound or its assets are subject;

provided, that disbursements made by the Partnership or cash reserves established, increased or reduced after the end of such Quarter but on or before the date of determination of Available Cash with respect to such Quarter shall be deemed to have been made, established, increased or reduced, for purposes of determining Available Cash, within such Quarter if the Board of Directors so determines.

Notwithstanding the foregoing, “Available Cash” shall not include any proceeds received pursuant to the Series A Purchase Agreement or any proceeds received for the purchase of any Series A Preferred Units or Series A Parity Securities subsequently issued in accordance with Section 5.8(b)(iv), and with respect to the Quarter in which the Liquidation Date occurs and any subsequent Quarter shall equal zero.

“Average VWAP” per Common Unit over a certain period shall mean the arithmetic average of the VWAP per Common Unit for each Trading Day in such period.

“BlackRock Affiliated Purchasers” means Nasa B Holdings LP, a Delaware limited partnership and Nasa Co-invest Holdings L.P., a Delaware limited partnership.

“BlackRock Purchaser” means Nasa A Holdings LP, a Delaware limited partnership.

“BlackRock Purchaser Notice Address” means

Nasa A Holdings LP,

c/o Global Energy & Power Infrastructure Funds,

1 Lafayette Place, 2nd Floor, Greenwich, Connecticut 06830

Attn: Matthew Raben

Email: matthew.raben@blackrock.com

With a copy to (which shall not constitute notice):

BlackRock, Inc.

Office of the General Counsel

40 East 52nd Street, 19th floor

New York, New York 10022

Attn: David Maryles and Jelena Napolitano

Email: legaltransactions@blackrock.com

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or such other address as the BlackRock Purchaser may designate in writing to the Partnership from time to time.

“Board” and “Board of Directors” have the meanings set forth in Section 7.1(a).

“Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of the United States of America or the State of Florida shall not be regarded as a Business Day.

“Capital Contribution” means (a) any cash, cash equivalents or the Fair Market Value of Contributed Property, net of Liabilities, that a Partner contributes to the Partnership or that is contributed or deemed contributed to the Partnership on behalf of a Partner, net of any liabilities either assumed by the Partnership upon such contribution or to which such property or other consideration is subject when contributed (including, in the case of an underwritten offering of Units, the amount of any underwriting discounts or commissions) or (b) current distributions that a Partner is entitled to receive but otherwise waives.

“Capital Distribution Basket” means, at the time of determination, (i) an amount equal to four times the total distributions to the holders of OpCo Common Units and OpCo Non-Voting Common Units under the OpCo Partnership Agreement for the preceding Quarter less (ii) the sum of (x) any amounts previously distributed by the OpCo Partnership to the holders of OpCo Common Units and OpCo Non-Voting Common Units under the OpCo Partnership Agreement from Capital Surplus (as defined in the OpCo Partnership Agreement) on or following the date of the Series A Purchase Agreement and (y) any amounts previously distributed by the Partnership to the Common Unitholders and Non-Voting Common Unitholders under this Agreement from Capital Proceeds on or following the date of the Series A Purchase Agreement; provided that if during the preceding Quarter, there was a distribution by the Partnership or the Operating Partnership that reduced the Capital Distribution Basket, the amount in clause (i) shall be determined by reference to the last preceding Quarter during which no such distributions were made.

“Cash Sweep and Credit Support Agreement” means the Amended and Restated Cash Sweep and Credit Support Agreement, dated as of August 4, 2017, between the Operating Partnership and NextEra Energy Resources, LLC.

“Cash Sweep Withdrawals” has the meaning set forth in the Cash Sweep and Credit Support Agreement.

“Cause” means (i) as used in Section 11.3 with respect to the General Partner, a court of competent jurisdiction has entered a final, non-appealable judgment finding the General Partner liable for actual fraud or willful misconduct to the Partnership or any Limited Partner in the General Partner’s capacity as a general partner of the Partnership; and (ii) as used in Section 7.1(d)(v) with respect to a Director, such Director has (a) been convicted of, or entered a plea of guilty or nolo contendere to, any crime or offense constituting a felony or any other crime involving (y) an act of theft, embezzlement, fraud or dishonesty or (z) a violation of the federal securities laws of the United States; (b) materially breached the terms of this Agreement; or (c) materially violated a written policy or procedure established by the Partnership.

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“Certificate” means a certificate in such form (including global form if permitted by applicable rules and regulations) as may be adopted by the Board of Directors and issued by the Partnership evidencing ownership of one or more classes of Partnership Interests. The initial form of certificate approved by the General Partner for the Common Units is attached as Exhibit A to this Agreement. The initial form of certificate approved by the General Partner for the Series A Preferred Units is attached as Exhibit B to this Agreement, and the initial form of certificate approved by the General Partner for the Non-Voting Common Units is attached as Exhibit D to this Agreement.

“Certificate of Limited Partnership” means the Certificate of Limited Partnership of the Partnership filed with the Secretary of State of the State of Delaware as referenced in Section 7.2, as such Certificate of Limited Partnership may be amended, supplemented or restated from time to time.

“Closing Price” means, in respect of any class of Limited Partner Interests, as of the date of determination, the last sale price on such day, regular way, or in case no such sale takes place on such day, the average of the last closing bid and ask prices on such day, regular way, in either case as reported on the principal National Securities Exchange on which such Limited Partner Interests are listed or admitted to trading or, if such Limited Partner Interests of such class are not listed or admitted to trading on any National Securities Exchange, the average of the high bid and low ask prices on such day in the over-the-counter market, as reported by such other system then in use, or, if on any such day such Limited Partner Interests of such class are not quoted by any such organization, the average of the closing bid and ask prices on such day as furnished by a professional market maker making a market in such Limited Partner Interests of such class selected by the Board of Directors, or if on any such day no market maker is making a market in such Limited Partner Interests of such class, the fair value of such Limited Partner Interests on such day as determined by the Board of Directors.

“Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time. Any reference herein to a specific section or sections of the Code shall be deemed to include a reference to any corresponding provision of any successor law.

“Combined Interest” means a Departing General Partner’s General Partner Interest and its or its Affiliates’ general partner interest (or equivalent interest), if any, in the other Group Members.

“Commission” means the United States Securities and Exchange Commission.

“Common Unit” means a Limited Partner Interest having the rights and obligations specified with respect to Common Units in this Agreement. The term “Common Unit” does not refer to or include (i) prior to its conversion into a Common Unit pursuant to the terms hereof, any Series A Preferred Unit, (ii) prior to its conversion into a Common Unit pursuant to the terms hereof, any Non-Voting Common Unit or (iii) any Special Voting Unit, except that, with respect to Article VI and the Management Services Agreement, the term “Common Unit” shall be deemed to also refer to any Non-Voting Common Units.

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“Conflicts Committee” means the committee of the Board of Directors composed of two (2) or more Directors, each of whom (A) is not an officer or employee of the General Partner or the Partnership, (B) is not an officer, director or employee of any Affiliate of the General Partner or the Partnership, (C) is not a holder of any ownership interest in the General Partner or its Affiliates or the Partnership Group other than (1) Common Units and (2) awards that are granted to such Director in his capacity as a Director under any long-term incentive plan, equity compensation plan or similar plan implemented by the General Partner or the Partnership and (D) is determined by the Board of Directors to be independent under the independence standards, established by the Exchange Act and the rules and regulations of the Commission thereunder and by the National Securities Exchange on which the Common Units are listed or admitted to trading (or if no such National Securities Exchange, the New York Stock Exchange), for directors who serve on an audit committee of a board of directors.

“Contributed Property” means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash, contributed to the Partnership.

“Conversion Date” has the meaning set forth in Section 5.9(b)(v)(D).

“Converting Holder” means a Record Holder of Non-Voting Common Units who delivers an Automatic Conversion Notice or Optional Conversion Notice pursuant to Section 5.9(b)(v)(A) or (B), respectively, including any 61-Day Converting Holder and any Maximum Percentage Converting Holder.

“Delaware Act” means the Delaware Revised Uniform Limited Partnership Act, 6 Del C. Section 17-101, et seq., as amended, supplemented or restated from time to time, and any successor to such statute.

“Departing General Partner” means a former general partner from and after the effective date of any withdrawal or removal of such former general partner pursuant to Section 11.1 or Section 11.2.

“Derivative Partnership Interests” means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests; provided, however, that a Partnership Interest relating to, convertible into or exchangeable for another Partnership Interest shall not be a Derivative Partnership Interest.

“Directors” has the meaning set forth in Section 7.1(a).

“Eligible Limited Partner” means a holder of Common Units that satisfies, or a Group of no more than twenty (20) holders of Common Units that together satisfy, the requirements of Article XV (including ownership of the Required Units); provided, however, that NEE shall not be entitled to qualify as an Eligible Limited Partner for so long as either it or one of its Affiliates serves as Manager under the Management Services Agreement; provided, further, that a holder of Special Voting Units shall not be entitled, solely by virtue of holding any number of Special Voting Units, to qualify as an Eligible Limited Partner (or member of a Group that otherwise satisfies the requirements of Article XV); provided, further, that a holder of Series A

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Preferred Units shall not be entitled, solely by virtue of holding any number of Series A Preferred Units, to qualify as an Eligible Limited Partner (or member of a Group that otherwise satisfies the requirements of Article XV); provided, further, that a holder of Non-Voting Common Units shall not be entitled, solely by virtue of holding any number of Non-Voting Common Units, to qualify as an Eligible Limited Partner (or member of a Group that otherwise satisfies the requirements of Article XV).

“Event of Withdrawal” has the meaning given such term in Section 11.1(a).

“Exchange Act” means the Securities Exchange Act of 1934, as amended, supplemented or restated from time to time, and any successor to such statute.

“Exchange Agreement” means the Exchange Agreement, dated as of July 1, 2014, among NEE Equity, the Partnership, the General Partner and the Operating Partnership.

“Excess Units” has the meaning set forth in Section 5.9(b)(v)(B).

“Fair Market Value” means, with respect to any property or asset, the fair market value of that property or asset, as determined by the Board of Directors in good faith.

“General Partner” means NextEra Energy Partners, GP, Inc., a Delaware corporation, and its successors and permitted assigns that are admitted to the Partnership as general partner of the Partnership, in their capacity as general partner of the Partnership (except as the context otherwise requires). The General Partner is the sole general partner of the Partnership and the holder of the General Partner Interest.

“General Partner Interest” means the non-economic interest of the General Partner in the Partnership (in its capacity as general partner without reference to any Limited Partner Interest), which includes any and all rights, powers and benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement. The General Partner Interest does not include any rights to ownership or profits or losses or any rights to receive distributions from operations or upon the liquidation or winding-up of the Partnership.

“Group” means two or more Persons that, with or through any of their respective Affiliates or Associates, have any contract, arrangement, understanding or relationship for the purpose of acquiring, holding, voting (except voting pursuant to a revocable proxy or consent given to such Person in response to a proxy or consent solicitation made to 10 or more Persons), exercising investment power or disposing of any Partnership Interests with any other Person that beneficially owns, or whose Affiliates or Associates beneficially own, directly or indirectly, Partnership Interests.

“Group Member” means a member of the Partnership Group.

“Group Member Agreement” means the partnership agreement of any Group Member, other than the Partnership, that is a limited or general partnership, the limited liability company agreement of any Group Member that is a limited liability company, the certificate of incorporation and bylaws or similar organizational documents of any Group Member that is a corporation, the joint venture agreement or similar governing document of any Group Member

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that is a joint venture and the governing or organizational or similar documents of any other Group Member that is a Person other than a limited or general partnership, limited liability company, corporation or joint venture, as such may be amended, supplemented or restated from time to time.

“IDR Fee” has the meaning given such term in the Management Services Agreement.

“Indemnitee” means (a) the General Partner, (b) any Departing General Partner, (c) any Person who is or was an Affiliate of the General Partner or any Departing General Partner, (d) any Person who is or was a manager, managing member, general partner, director (including each LP Elected Director and each NEP GP Appointed Director), officer, fiduciary or trustee of (i) any Group Member, the General Partner or any Departing General Partner or (ii) any Affiliate of any Group Member, the General Partner or any Departing General Partner, (e) any Person who is or was serving at the request of the Board of Directors, the General Partner or any Departing General Partner or any Affiliate of the General Partner or any Departing General Partner as a manager, managing member, general partner, director, officer, fiduciary or trustee of another Person owing a fiduciary duty to any Group Member; provided that a Person shall not be an Indemnitee by reason of providing, on a fee-for-services basis, trustee, fiduciary or custodial services and (f) any Person the General Partner or Board of Directors designates as an “Indemnitee” for purposes of this Agreement because such Person’s status, service or relationship exposes such Person to potential claims, demands, suits or proceedings relating to the Partnership Group’s business and affairs.

“Initial Distribution Period” means, with respect to a Series A Preferred Unit, the period commencing on the date of issuance of such Series A Preferred Unit and ending on the third (3^rd) anniversary thereof; provided that the Initial Distribution Period with respect to a Series A PIK Unit shall be deemed to be the same as that of the Series A Preferred Unit on which the Series A PIK Unit is paid.

“IPO Registration Statement” means the Registration Statement on Form S-1 (File No. 333-196099), as amended, filed by the Partnership with the Commission under the Securities Act to register the offering and sale of the Common Units in the Partnership’s initial public offering of such Common Units to the public.

“Liability” means any liability or obligation of any nature, whether accrued, contingent or otherwise.

“Limited Partner” means, unless the context otherwise requires, each Person that is admitted to the Partnership as a Limited Partner pursuant to the terms of this Agreement and any Departing General Partner upon the change of its status from General Partner to Limited Partner pursuant to Section 11.3, in each case, in such Person’s capacity as a limited partner of the Partnership.

“Limited Partner Interest” means an interest of a Limited Partner in the Partnership, which may be evidenced by Series A Preferred Units, Common Units, Non-Voting Common Units, Special Voting Units or other Partnership Interests (other than a General Partner

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Interest), or a combination thereof (but excluding Derivative Partnership Interests), and includes any and all benefits to which such Limited Partner is entitled as provided in this Agreement, together with all obligations of such Limited Partner pursuant to the terms and provisions of this Agreement.

“Limited Partner Nominee” has the meaning set forth in Section 15.1.

“Liquidation Date” means (a) in the case of an event giving rise to the dissolution of the Partnership of the type described in clauses (a) and (b) of Section 12.2, the date on which the applicable time period during which the holders of Outstanding Units have the right to elect to continue the business of the Partnership has expired without such an election being made and (b) in the case of any other event giving rise to the dissolution of the Partnership, the date on which such event occurs.

“Liquidator” means one or more Persons selected by the General Partner to perform the functions described in Section 12.4 as liquidating trustee of the Partnership within the meaning of the Delaware Act.

“LP Elected Director” has the meaning set forth in Section 7.1(d)(ii).

“Management Services Agreement” means the Second Amended and Restated Management Services Agreement, dated as of August 4, 2017, among the Operating Partnership, the Partnership, NextEra Energy Operating Partners GP, LLC and NextEra Energy Management Partners, LP.

“Manager” means the Person serving as the manager under the terms of the Management Services Agreement.

“Maximum Percentage” has the meaning set forth in Section 5.9(b)(v)(B).

“Maximum Percentage Converting Holder” means any Converting Holder that holds Non-Voting Common Units issued as consideration in connection with the exercise of a Qualified Call Option under a Qualified Agreement that prohibits the conversion of Non-Voting Common Units into Common Units to the extent that, after giving effect to the applicable conversion, such Maximum Percentage Converting Holder (together with its Attribution Parties) would beneficially own in excess of the Maximum Percentage.

“Merger Agreement” has the meaning given such term in Section 14.1.

“National Securities Exchange” means an exchange registered with the Commission under Section 6(a) of the Exchange Act (or any successor to such Section).

“NEE” means NextEra Energy, Inc., a Florida corporation.

“NEE Equity” means NextEra Energy Equity Partners, LP, a Delaware limited partnership.

“NEP GP Appointed Director” has the meaning set forth in Section 7.1(d)(i).

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“NEP Pipelines, LLC” means NextEra Energy Partners Pipelines, LLC, a Delaware limited liability company.

“NEP Pipelines LLC Agreement” means the Amended and Restated Limited Liability Company Agreement of NEP Pipelines, LLC, dated as of [●], 2019, by and among the members party thereto, as it may be amended, supplemented, or restated from time to time in accordance with its terms.

“NEP Renewables, LLC” means NEP Renewables, LLC, a Delaware limited liability company.

“NEP Renewables LLC Agreement” means the Amended and Restated Limited Liability Company Agreement of NEP Renewables, LLC, dated as of December 21, 2018, by and among the members party thereto, as it may be amended, supplemented, or restated from time to time in accordance with its terms.

“NEP Renewables II, LLC” means NEP Renewables II, LLC, a Delaware limited liability company.

“NEP Renewables II LLC Agreement” means the Amended and Restated Limited Liability Company Agreement of NEP Renewables II, LLC, dated as of June 11, 2019, by and among the members party thereto, as it may be amended, supplemented, or restated from time to time in accordance with its terms.

“Nomination Notice” has the meaning set forth in Section 15.1.

“Non-Voting Common Units” means a Limited Partner Interest having the rights and obligations specified with respect to Units designated as “Non-Voting Common Units” in this Agreement.

“OpCo Common Units” means limited partner interests in the Operating Partnership having the rights and obligations specified with respect to “Common Units” in the OpCo Partnership Agreement, as it may be amended, supplemented or restated from time to time.

“OpCo General Partner” means NextEra Energy Operating Partners GP, LLC, a Delaware limited liability company, and its successors and permitted assigns that are admitted to the Operating Partnership as general partner of the Operating Partnership, in their capacity as general partner of the Operating Partnership (except as the context otherwise requires). The OpCo General Partner is the sole general partner of the Operating Partnership and the holder of the OpCo General Partner Interest.

“OpCo General Partner Interest” means the non-economic management interest of the OpCo General Partner in the Operating Partnership (in its capacity as general partner without reference to any limited partner interest), which includes any and all rights, powers and benefits to which the OpCo General Partner is entitled as provided in the OpCo Partnership Agreement, together with all obligations of the OpCo General Partner to comply with the terms and provisions of the OpCo Partnership Agreement. The OpCo General Partner Interest does not

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include any rights to ownership or profits or losses or any rights to receive distributions from operations or upon the liquidation or winding-up of the Operating Partnership.

“OpCo Non-Voting Common Units” means limited partner interests in the Operating Partnership having the rights and obligations specified with respect to “Non-Voting Common Units” in the OpCo Partnership Agreement, as it may be amended, supplemented or restated from time to time.

“OpCo Partnership Agreement” means the Third Amended and Restated Agreement of Limited Partnership of the Operating Partnership, as amended through the date of this Agreement, and as it may be further amended, supplemented or restated from time to time.

“OpCo Preferred Units” means limited partner interests in the Operating Partnership having the rights and obligations specified with respect to “Series A Preferred Units” in the OpCo Partnership Agreement, as it may be amended, supplemented or restated from time to time.

“OpCo Series A Parity Securities” means any class or series of limited partner interests in the Operating Partnership that, with respect to distributions on such limited partner interests or distributions upon liquidation of the Operating Partnership, ranks pari passu with (but not senior to) the OpCo Series A Preferred Units.

“Operating Partnership” means NextEra Energy Operating Partners, LP, a Delaware limited partnership.

“Operating Plan” means the operational plan approved annually by the Board of Directors pursuant to Section 7.1(b)(iv).

“Opinion of Counsel” means a written opinion of counsel (who may be regular counsel to, or the general counsel or other inside counsel of, the Partnership or the General Partner or any of its Affiliates) acceptable to the Board of Directors or to such other person selecting such counsel or obtaining such opinion.

“Optional Conversion Notice” has the meaning set forth in Section 5.9(b)(v)(C).

“Organizational Limited Partner” means NEE Equity in its capacity as the organizational limited partner of the Partnership pursuant to this Agreement.

“Outstanding” means, with respect to Partnership Interests, all Partnership Interests that are issued by the Partnership and reflected as outstanding in the Register as of the date of determination; provided, however, that Restricted Interests shall not be counted for purposes of determining whether a matter has been approved by Limited Partners, except to the extent such votes are reallocated pursuant to Section 13.13; provided, further, that Restricted Interests shall be considered to be Outstanding for all other purposes of this Agreement, it being understood, however, that Restricted Interests shall in each case not be treated as a separate class of Partnership Interests for purposes of this Agreement or the Delaware Act.

“Partners” means the General Partner and the Limited Partners.

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“Partnership” means NextEra Energy Partners, LP, a Delaware limited partnership.

“Partnership Group” means, collectively, the Partnership and its Subsidiaries.

“Partnership Interest” means the General Partner Interest and any class or series of equity interest in the Partnership, which shall include any Limited Partner Interests but shall exclude any Derivative Partnership Interests.

“Percentage Interest” means as of any date of determination (a) as to any Unitholder with respect to Units (other than with respect to Series A Preferred Units), as the case may be, the product obtained by multiplying (i) one hundred percent (100%) less the percentage applicable to clause (b) below by (ii) the quotient obtained by dividing (A) the number of Units (excluding Series A Preferred Units) held by such Unitholder, as the case may be, by (B) the total number of Outstanding Units (excluding Series A Preferred Units), and (b) as to the holders of other Partnership Interests (other than with respect to Series A Preferred Units) issued by the Partnership in accordance with Section 5.4, the percentage established as a part of such issuance. The Percentage Interest with respect to a Series A Preferred Unit shall at all times be zero.

“Permitted Loan” means any bona fide loan or other extension of credit entered into by a Series A Preferred Unitholder or any of its Affiliates with one or more financial institutions and secured by a pledge, hypothecation or other grant of security interest in Series A Preferred Units, Series A Conversion Units, Common Units, or other assets.

“Person” means an individual or a corporation, firm, limited liability company, partnership, joint venture, trust, estate, unincorporated organization, association, government agency or political subdivision thereof or other entity.

“Plan of Conversion” has the meaning given such term in Section 14.1.

“Pro Rata” means (a) when used with respect to Units or any class thereof, apportioned among all designated Units in accordance with their relative Percentage Interests; (b) when used with respect to Partners or Record Holders, apportioned among all Partners or Record Holders in accordance with their relative Percentage Interests; and (c) when used with respect to Series A Preferred Unitholders, apportioned among all Series A Preferred Unitholders in accordance with the relative number or percentage of Series A Preferred Units held by each such Series A Preferred Unitholder.

“Qualified Agreement” means the NEP Renewables LLC Agreement, the NEP Renewables II LLC Agreement, the NEP Pipelines LLC Agreement, and any other agreement pursuant to which the Partnership has issued or agreed to issue Non-Voting Common Units, in each case, as such agreement may be amended, supplemented, or restated from time to time in accordance with its terms.

“Qualified Call Option” means any of the Call Option, NEP Change of Control Option, or Class B COC Option (as each such term is defined in the NEP Renewables LLC Agreement, the NEP Renewables II LLC Agreement, or the NEP Pipelines LLC Agreement, as applicable), or any other call option, change of control option, or other right of purchase (or

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exchange) that is provided for in any other Qualified Agreement pursuant to which Common Units or Non-Voting Common Units may be issued as consideration therefor.

“Qualified Holder” means a holder of limited liability company interests, limited partnership interests, or other securities, whether designated as “Class B Units” or otherwise, that are issued pursuant to the terms of a Qualified Agreement and are subject to or entitled to exercise a Qualified Call Option.

“Quarter” means, unless the context requires otherwise, a fiscal quarter of the Partnership.

“Record Date” means the date established by the Board of Directors or otherwise in accordance with this Agreement for determining (a) the identity of the Record Holders entitled to receive notice of, or entitled to exercise rights in respect of, any lawful action of Limited Partners (including voting) or (b) the identity of Record Holders entitled to receive any report or distribution or to participate in any offer.

“Record Holder” means (a) with respect to any class of Partnership Interests for which a Transfer Agent has been appointed, the Person in whose name a Partnership Interest of such class is registered on the books of the Transfer Agent and the Register as of the Partnership’s close of business on a particular Business Day or (b) with respect to other classes of Partnership Interests, the Person in whose name any such other Partnership Interest is registered in the Register as of the Partnership’s close of business on a particular Business Day.

“Register” means one or more registers in which, subject to such reasonable regulations as the Board of Directors may prescribe and subject to the provisions of Section 4.5(b), the registration and transfer of Limited Partner Interests, and any Derivative Partnership Interests, as applicable, shall be recorded.

“Registration Rights Agreement” means the Registration Rights Agreement, dated as of July 1, 2014, between the Partnership and NEE.

“Required Information” means, for purposes of Article XV, (i) the information concerning the Limited Partner Nominee(s) and the Eligible Limited Partner that is required to be disclosed in the Partnership’s proxy statement by the rules and regulations promulgated under the Exchange Act; and (ii) if the Eligible Limited Partner so elects, a Statement. To be timely, the Required Information must be delivered to or mailed and received by the Secretary of the Partnership within the time period specified in Article XV for providing the Nomination Notice.

“Required Units” means that number of Common Units (including Series A Conversion Units and Common Units that have been issued upon exchange or conversion of Special Voting Units or upon conversion of Non-Voting Common Units) as shall constitute ten percent (10%) or more of the aggregate number of Outstanding Common Units (including Series A Conversion Units and Common Units that have been issued upon exchange or conversion of Special Voting Units or upon conversion of Non-Voting Common Units) and Special Voting Units. For the avoidance of doubt, no Series A Preferred Units that have not been converted into Series A Conversion Units, Special Voting Units that have not been converted into or exchanged

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for Common Units or Non-Voting Common Units that have not been converted into Common Units shall be counted as Required Units.

“Restricted Interests” means Limited Partner Interests with respect to which, pursuant to Section 13.13, the votes cast by the holder thereof on a matter to be acted upon by Limited Partners shall not be counted.

“Right of First Offer Agreement” means the Amended and Restated Right of First Offer Agreement, dated as of August 4, 2017, among the Partnership, the Operating Partnership and NextEra Energy Resources, LLC.

“Right of First Refusal Agreement” means the Right of First Refusal Agreement, dated as of August 4, 2017, among the Partnership, the Operating Partnership and NextEra Energy Resources, LLC.

“Securities Act” means the Securities Act of 1933, as amended, supplemented or restated from time to time, and any successor to such statute.

“Series A Cash COC Event” means a Series A Change of Control involving a payment of consideration directly to the holders of Common Units of the Partnership, and more than ninety percent (90%) of such consideration is cash.

“Series A Change of Control” means the occurrence of any of the following:

(a) the acquisition, directly or indirectly (including by merger), of fifty percent (50%) or more of the voting equity of the Partnership, the General Partner or the General Partner Interest (as measured by voting power rather than the number of shares, units or the like, and excluding voting power exercisable pursuant to a proxy granted by a Limited Partner in connection with a proxy solicitation conducted pursuant to Regulation 14A of the Exchange Act) by a Person or Group that is not an Affiliate of NEE as of the Series A Initial Issuance Date if such acquisition gives such Person or Group the right to elect half or more of the members of the Board of Directors of the Partnership or the General Partner, respectively;

(b) any sale, lease, pledge, assignment, transfer, conveyance or other disposition, in one or a series of related transactions, the result of which is that (i) the Partnership ceases to own directly or indirectly more than fifty percent (50%) of the voting equity of the OpCo General Partner (as measured by voting power rather than the number of shares, units or the like, and excluding voting power exercisable pursuant to a proxy granted by a Limited Partner in connection with a proxy solicitation conducted pursuant to Regulation 14A of the Exchange Act) or (ii) the OpCo General Partner ceases to hold one hundred percent (100%) the OpCo General Partner Interest;

(c) any sale, lease, pledge, assignment, transfer, conveyance or other disposition, in one or a series of related transactions, the result of which is that NEE ceases to own directly or indirectly more than thirty-three percent (33%) of the voting equity of the Partnership (including the Special Voting Units); provided, however, that the foregoing shall not be deemed to constitute a Series A Change of Control for so long

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as NEE continues to own, directly or indirectly, fifty percent (50%) or more of the voting equity of the General Partner or the General Partner Interest (as measured by voting power rather than the number of shares, units or the like, and excluding voting power exercisable pursuant to a proxy granted by a Limited Partner in connection with a proxy solicitation conducted pursuant to Regulation 14A of the Exchange Act);

(d) any sale, lease, pledge, assignment, transfer, conveyance or other disposition, in one or a series of related transactions, of all or substantially all of the assets of the Partnership and its Subsidiaries, taken as a whole (other than to one of the Partnership’s wholly-owned Subsidiaries);

(e) the Common Units are no longer listed or admitted to trading on a National Securities Exchange;

(f) any transaction pursuant to which NEE or any of its Affiliates (other than the Partnership or any of its Subsidiaries) would acquire (i) all of the Partnership’s Outstanding Common Units or (ii) all or substantially all of the assets of the Partnership and its Subsidiaries, in each case, by way of merger, consolidation or otherwise; or

(g) the removal of the General Partner as general partner of the Partnership by the Limited Partners of the Partnership, except where the successor General Partner is an Affiliate of NEE.

“Series A COC Conversion Premium” means (a) on or prior to the first anniversary of the Series A Initial Issuance Date, one hundred fifteen percent (115%), (b) after the first anniversary but on or prior to the second (2^nd) anniversary of the Series A Initial Issuance Date, one hundred ten percent (110%), (c) after the second (2^nd) anniversary of the Series A Initial Issuance Date but on or prior to the third (3^rd) anniversary of the Series A Initial Issuance Date, one hundred five percent (105%), or (d) after the third (3^rd) anniversary of the Series A Initial Issuance Date, one hundred one percent (101%).

“Series A COC Conversion Rate” means a conversion ratio equal to the greater of (a) the then applicable Series A Conversion Rate (regardless of whether the Series A Preferred Units are then convertible) and (b) the quotient of (i) the sum of (x) the product of (A) the sum of (aa) the Series A Issue Price, plus (bb) all Series A Unpaid Distributions on the applicable Series A Preferred Unit, multiplied by (B) the Series A COC Conversion Premium plus (y) Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (ii) the Average VWAP for the twenty (20) consecutive Trading Days ending immediately prior to the execution of definitive documentation relating to the Series A Change of Control.

“Series A Conversion Date” has the meaning given such term in Section 5.8(b)(vi)(D).

“Series A Conversion Notice” has the meaning given such term in Section 5.8(b)(vi)(C)(1).

“Series A Conversion Notice Date” has the meaning given such term in Section 5.8(b)(vi)(A).

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“Series A Conversion Rate” means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.

“Series A Conversion Unit” means a Common Unit issued upon conversion of a Series A Preferred Unit pursuant to Section 5.8(b)(vi)(D). Immediately upon such issuance, each Series A Conversion Unit shall be considered a Common Unit for all purposes hereunder.

“Series A Converting Unitholder” means a Series A Preferred Unitholder (i) who has delivered a Series A Conversion Notice to the Partnership in accordance with Section 5.8(b)(vi)(C)(1) or (ii) to whom the Partnership has delivered a Series A Forced Conversion Notice in accordance with Section 5.8(b)(vi)(C)(2).

“Series A Distribution Amount” means (a) with respect to any Quarter ending on or before the end of the Initial Distribution Period for a Series A Preferred Unit, an amount per Quarter per Series A Preferred Unit equal to $0.4413; (b) with respect to any Quarter ending after the end of the Quarter during which the Initial Distribution Period ends for a Series A Preferred Unit, an amount per Quarter per Series A Preferred Unit equal to the greater of (i) the amount set forth in clause (a) and (ii) the amount of distributions for such Quarter that would have been payable with respect to such Series A Preferred Unit if such Series A Preferred Unit had converted immediately prior to the Record Date for such Quarter in respect of which such distributions are being paid into the number of Common Unit(s) into which such Series A Preferred Unit would be convertible at the then-applicable Series A Conversion Rate (regardless of whether the Series A Preferred Units are then convertible); and (c) with respect to the Quarter during which the Initial Distribution Period ends, a prorated amount based on the date that the Initial Distribution Period ends, which amount shall equal the sum of (i) the amount set forth in clause (a) of this paragraph, multiplied by a fraction, the numerator of which equals the number of days in such Quarter commencing on the start of the applicable Quarter and ending on, and including, the last day of the Initial Distribution Period, and the denominator of which equals the total number of days in such Quarter, and (ii) the amount determined as provided in clause (b) of this paragraph, multiplied by a fraction, the numerator of which equals the number of days in such Quarter commencing on the day following the last day of the Initial Distribution Period and ending on, and including, the last day of such Quarter, and the denominator of which equals the total number of days in such Quarter; provided, however, that the Series A Distribution Amount for the Quarter during which the Initial Distribution Period commences shall be prorated for such period and shall equal the amount calculated by multiplying the amount set forth in clause (a) of this paragraph by a fraction, the numerator of which equals the number of days in such Quarter commencing on the applicable issuance date and ending on, and including, the last day of such Quarter, and the denominator of which equals the total number of days in such Quarter.

“Series A Distribution Payment Date” has the meaning given such term in Section 5.8(b)(i)(A).

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“Series A Forced Conversion Notice” has the meaning given such term in Section 5.8(b)(vi)(C)(2).

“Series A Forced Conversion Notice Date” has the meaning given such term in Section 5.8(b)(vi)(B).

“Series A Initial Issuance Date” means the date on which Series A Preferred Units are first issued under the Series A Purchase Agreement.

“Series A Issue Price” means $39.2253 per Series A Preferred Unit.

“Series A Junior Securities” means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions upon liquidation of the Partnership, ranks junior to the Series A Preferred Units, including Common Units and Non-Voting Common Units, but excluding any Series A Parity Securities and Series A Senior Securities.

“Series A Liquidation Value” means the amount equal to the sum of (i) the Series A Issue Price, plus (ii) all Series A Unpaid Distributions, plus (iii) Series A Partial Period Distributions, in each case, with respect to the applicable Series A Preferred Unit.

“Series A Parity Equivalent Units” has the meaning given such term in Section 5.8(b)(iv).

“Series A Parity Securities” means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests or distributions upon liquidation of the Partnership, ranks pari passu with (but not senior to) the Series A Preferred Units.

“Series A Partial Period Distributions” means, with respect to a conversion or redemption of Series A Preferred Units or a liquidation, (a) an amount equal to the Series A Distribution Amount multiplied by a fraction, the numerator of which is the number of days elapsed in the Quarter in which such conversion, redemption or liquidation occurs and the denominator of which is the total number of days in such Quarter, plus (b) to the extent such conversion, redemption or liquidation occurs prior to the Series A Distribution Payment Date in respect of the Quarter immediately preceding such conversion, redemption or liquidation, an amount equal to the Series A Distribution Amount.

“Series A PIK Payment Date” has the meaning given such term in Section 5.8(b)(i)(E).

“Series A PIK Units” means any Series A Preferred Units issued pursuant to a Series A Quarterly Distribution in accordance with Section 5.8(b)(i).

“Series A Preferred Unitholder” means a Record Holder of Series A Preferred Units.

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“Series A Preferred Units” means any Units designated as “Series A Convertible Preferred Units” and issued pursuant to Section 5.8, including any Units issued under Section 5.8(b)(ii) and any Series A PIK Units.

“Series A Purchase Agreement” means the Series A Preferred Unit Purchase Agreement, dated as of June 20, 2017, by and among the Partnership and the Series A Purchasers thereunder, as may be amended from time to time.

“Series A Purchase Agreement Purchasers” means those Persons set forth on Schedule A to the Series A Purchase Agreement.

“Series A Purchaser Change of Control” means, (i) with respect to the BlackRock Purchaser and the BlackRock Affiliated Purchasers, a transaction or series of transactions which results in such Person no longer being controlled by an Affiliate of Global Energy & Power Infrastructure Fund II, L.P. and (ii) with respect to KKR Flatirons Aggregator L.P., as Series A Purchase Agreement Purchaser, a transaction or series of transactions which results in such Person no longer being controlled by an Affiliate of Kohlberg Kravis Roberts & Co. L.P.

“Series A Purchasers” means (a) any Series A Purchase Agreement Purchaser and (b) any Person who subsequently purchases any Series A Preferred Units issued in accordance with Section 5.8(b)(iv).

“Series A Quarterly Distribution” has the meaning given such term in Section 5.8(b)(i)(A).

“Series A Required Voting Percentage” has the meaning given such term in Section 13.3(c).

“Series A Senior Securities” means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests or distributions upon liquidation of the Partnership, ranks senior to the Series A Preferred Units.

“Series A Substantially Equivalent Unit” has the meaning given such term in Section 5.8(b)(vii)(B)(2).

“Series A Unpaid Distributions” has the meaning given such term in Section 5.8(b)(i)(B).

“Special Approval” means approval by a majority of the members of the Conflicts Committee acting in good faith.

“Special Voting Unit” means a Partnership Interest having the rights and obligations specified with respect to Special Voting Units in this Agreement. For the avoidance of doubt, holders of Special Voting Units, in their capacity as such, shall not have any rights to ownership or profits or losses or any rights to receive distributions from operations or upon the liquidation or winding-up of the Partnership.

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“Statement” means a written statement for inclusion in the Partnership’s proxy statement for the annual meeting, not to exceed five hundred (500) words, in support of a Limited Partner Nominee’s candidacy.

“Subsidiary” means, with respect to any Person, (a) a corporation of which more than fifty percent (50%) of the voting power of shares entitled (without regard to the occurrence of any contingency) to vote in the election of directors or other governing body of such corporation is owned, directly or indirectly, at the date of determination, by such Person, by one or more Subsidiaries of such Person or a combination thereof, (b) a partnership (whether general or limited) in which such Person or a Subsidiary of such Person is, at the date of determination, a general or limited partner of such partnership, but only if such Person, directly or by one or more Subsidiaries of such Person, or a combination thereof, controls such partnership on the date hereof; or (c) any other Person (other than a corporation or a partnership) in which such Person, one or more Subsidiaries of such Person or a combination thereof, directly or indirectly, at the date of determination, has the power to elect or direct the election of a majority of the directors or other governing body of such Person.

“Surviving Business Entity” has the meaning given such term in Section 14.2(b).

“Trading Day” means a day on which the principal National Securities Exchange on which the referenced Partnership Interests of any class are listed or admitted for trading is open for the transaction of business or, if such Partnership Interests are not listed or admitted for trading on any National Securities Exchange, a day on which banking institutions in New York City are not legally required to be closed.

“Transaction Documents” means this Agreement, the Group Member Agreement of each other Group Member, the Management Services Agreement, the Exchange Agreement, the Right of First Offer Agreement, the Right of First Refusal Agreement, the Cash Sweep and Credit Support Agreement and the Registration Rights Agreement, as each such agreement is amended or supplemented from time to time.

“transfer” has the meaning given such term in Section 4.4(a).

“Transfer Agent” means such bank, trust company or other Person (including the General Partner or one of its Affiliates) as may be appointed from time to time by the Board of Directors to act as registrar and transfer agent for any class of Partnership Interests in accordance with the Exchange Act and the rules of the National Securities Exchange on which such Partnership Interests are listed (if any); provided that, if no such Person is appointed as registrar and transfer agent for any class of Partnership Interests, the General Partner shall act as registrar and transfer agent for such class of Partnership Interests.

“Treasury Regulation” means the United States Treasury regulations promulgated under the Code.

“Unit” means a Limited Partner Interest that is designated by the Board of Directors as a “Unit” and shall include Series A Preferred Units, Common Units, Non-Voting Common Units and Special Voting Units.

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“Unit Majority” means at least a majority of the Outstanding Common Units and Special Voting Units, voting together as a single class (and including the Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding the Non-Voting Common Units).

“Unitholders” means the Record Holders of Units.

“Unrestricted Person” means (a) each Indemnitee, (b) each Partner, (c) each Person who is or was a member, partner, director, officer, employee or agent of any Group Member, a General Partner or any Departing General Partner or any Affiliate of any Group Member, a General Partner or any Departing General Partner and (d) any Person the General Partner designates from time to time as an “Unrestricted Person” for purposes of this Agreement.

“U.S. GAAP” means United States generally accepted accounting principles, as in effect from time to time, consistently applied.

“VWAP” per Common Unit on any Trading Day shall mean the per Common Unit volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “NEP <equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the closing price of one Common Unit on such Trading Day as reported on the New York Stock Exchange’s website or the website of the National Securities Exchange upon which the Common Units are listed). If the VWAP cannot be calculated for the Common Units on a particular date on any of the foregoing bases, the VWAP of the Common Units on such date shall be the Fair Market Value.

Section 1.2 Construction. Unless the context requires otherwise: (a) 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; (b) references to Articles and Sections refer to Articles and Sections of this Agreement; (c) the terms “include,” “includes,” “including” or words of like import shall be deemed to be followed by the words “without limitation”; and (d) the terms “hereof,” “herein” or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement. The table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. The General Partner and the Board of Directors have the power to construe and interpret this Agreement and to act upon any such construction or interpretation. Any construction or interpretation of this Agreement by the General Partner or the Board of Directors, and any action taken pursuant thereto, and any determination made by the General Partner or the Board of Directors in good faith shall, in each case, be conclusive and binding on all Record Holders and all other Persons for all purposes.

ARTICLE II

ORGANIZATION

Section 2.1 Formation. The General Partner and the Organizational Limited Partner formed the Partnership as a limited partnership pursuant to the provisions of the Delaware Act.

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The initial agreement of limited partnership was amended and restated in its entirety by the First Amended and Restated Agreement of Limited Partnership, dated as of July 1, 2014, which is hereby amended and restated in its entirety. This amendment and restatement shall become effective on the date of this Agreement. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Partners and the administration, dissolution and termination of the Partnership shall be governed by the Delaware Act. All Partnership Interests shall constitute personal property of the record owner thereof for all purposes.

Section 2.2 Name. The name of the Partnership shall be “NextEra Energy Partners, LP.” Subject to applicable law, the Partnership’s business may be conducted under any other name or names as determined by the Board of Directors. The words “Limited Partnership,” “L.P.,” “Ltd.” or similar words or letters shall be included in the Partnership’s name where necessary for the purpose of complying with the laws of any jurisdiction that so requires. The Board of Directors may change the name of the Partnership at any time and from time to time and shall notify the Limited Partners of such change in the next regular communication to the Limited Partners.

Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices. Unless and until changed by the Board of Directors, the registered office of the Partnership in the State of Delaware shall be located at 251 Little Falls Drive, Wilmington, Delaware 19808, and the registered agent for service of process on the Partnership in the State of Delaware at such registered office shall be Corporation Service Company. The principal office of the Partnership shall be located at 700 Universe Boulevard, Juno Beach, Florida 33408, or such other place as the Board of Directors may from time to time designate by notice to the Limited Partners. The Partnership may maintain offices at such other place or places within or outside the State of Delaware as the Board of Directors determines to be necessary or appropriate. The address of the General Partner shall be 700 Universe Boulevard, Juno Beach, Florida 33408, or such other place as the General Partner may from time to time designate by notice to the Limited Partners.

Section 2.4 Purpose and Business. The purpose and nature of the business to be conducted by the Partnership shall be to (a) engage directly in, or enter into or form, hold and dispose of any corporation, partnership, joint venture, limited liability company or other arrangement to engage indirectly in, any business activity that is approved by the Board of Directors and the General Partner and that lawfully may be conducted by a limited partnership organized pursuant to the Delaware Act and, in connection therewith, to exercise all of the rights and powers conferred upon the Partnership pursuant to the agreements relating to such business activity and (b) do anything necessary or appropriate to the foregoing, including the making of capital contributions or loans to a Group Member; provided, however, that, without the prior written consent of the General Partner, which consent may be granted or withheld in its sole discretion, the Partnership and each other Group Member shall not have any power or authority to solicit, review, respond to or otherwise participate in any request for proposal relating to, or otherwise engage in, or seek to engage in, the development of, (i) any wind or solar energy project (other than any off-shore project), (ii) any natural gas pipeline, or (iii) any utility-scale battery storage facility, in each case, anywhere in the world, other than those projects described in clauses (i) through (iii) that are owned or are being developed by a Group Member as of the

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date of this Agreement. To the fullest extent permitted by law, neither the General Partner nor the Board of Directors shall have any duty or obligation to propose or approve the conduct by the Partnership of any business and may decline to do so free of any duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to so propose or approve, shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the Delaware Act or any other law, rule or regulation or at equity, and the General Partner and the Board of Directors in determining whether to propose or approve the conduct by the Partnership of any business shall be permitted to do so, each in its sole and absolute discretion.

Section 2.5 Powers. The Partnership 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 2.4 and for the protection and benefit of the Partnership.

Section 2.6 Term. The term of the Partnership commenced upon the filing of the Certificate of Limited Partnership in accordance with the Delaware Act and shall continue in existence until the dissolution of the Partnership in accordance with the provisions of Article XII. The existence of the Partnership as a separate legal entity shall continue until the cancellation of the Certificate of Limited Partnership as provided in the Delaware Act.

Section 2.7 Title to Partnership Assets. Title to the assets of the Partnership, whether real, personal or mixed and whether tangible or intangible, shall be deemed to be owned by the Partnership as an entity, and no Partner, individually or collectively, shall have any ownership interest in such assets of the Partnership or any portion thereof. Title to any or all assets of the Partnership may be held in the name of the Partnership, the General Partner, one or more of its Affiliates or one or more nominees of the General Partner or its Affiliates, as the Board of Directors may determine. The General Partner hereby declares and warrants that any assets of the Partnership for which record title is held in the name of the General Partner or one or more of its Affiliates or one or more nominees of the General Partner or its Affiliates shall be held by the General Partner or such Affiliate or nominee for the use and benefit of the Partnership in accordance with the provisions of this Agreement; provided, however, that the General Partner shall use reasonable efforts to cause record title to such assets (other than those assets in respect of which the General Partner determines that the expense and difficulty of conveyancing makes transfer of record title to the Partnership impracticable) to be vested in the Partnership or one or more of the Partnership’s designated Affiliates as soon as reasonably practicable; provided, further, that, prior to the withdrawal or removal of the General Partner or as soon thereafter as practicable, the General Partner shall use reasonable efforts to effect the transfer of record title to the Partnership and, prior to any such transfer, will provide for the use of such assets in a manner satisfactory to any successor General Partner. All assets of the Partnership shall be recorded as the property of the Partnership in its books and records, irrespective of the name in which record title to such assets of the Partnership is held.

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ARTICLE III

RIGHTS OF LIMITED PARTNERS

Section 3.1 Limitation of Liability. The Limited Partners shall have no liability under this Agreement except as expressly provided in this Agreement or the Delaware Act.

Section 3.2 Management of Business. No Limited Partner, in its capacity as such, shall participate in the operation, management or control (within the meaning of the Delaware Act) of the Partnership’s business, transact any business in the Partnership’s name or have the power to sign documents for or otherwise bind the Partnership. No action taken by any Affiliate of the General Partner or any officer, director, employee, manager, member, general partner, agent or trustee of the General Partner or any of its Affiliates, or any officer, director, employee, manager, member, general partner, agent or trustee of a Group Member, in its capacity as such, shall be deemed to be participating in the control of the business of the Partnership by a limited partner of the Partnership (within the meaning of Section 17-303(a) of the Delaware Act) nor shall any such action affect, impair or eliminate the limitations on the liability of the Limited Partners under this Agreement.

Section 3.3 Rights of Limited Partners.

(a) Each Limited Partner shall have the right, for a purpose reasonably related to such Limited Partner’s interest as a Limited Partner in the Partnership, upon reasonable written demand stating the purpose of such demand and at such Limited Partner’s own expense:

(i) to obtain from the Partnership either (A) the Partnership’s most recent filings with the Commission on Form 10-K and any subsequent filings on Form 10-Q and 8-K or (B) if the Partnership is no longer subject to the reporting requirements of the Exchange Act, the information specified in, and meeting the requirements of, Rule 144A(d)(4) under the Securities Act or any successor or similar rule or regulation under the Securities Act (provided that the foregoing materials shall be deemed to be available to a Limited Partner in satisfaction of the requirements of this Section 3.3(a)(i) if posted on or accessible through the Partnership’s or the Commission’s website);

(ii) to obtain a current list of the name and last known business, residence or mailing address of each Partner; and

(iii) to obtain a copy of this Agreement and the Certificate of Limited Partnership and all amendments thereto.

(b) The rights to information granted the Limited Partners pursuant to Section 3.3(a) replace in their entirety any rights to information provided for in Section 17-305(a) of the Delaware Act and each of the Partners and each other Person or Group who acquires an interest in Partnership Interests hereby agrees to the fullest extent permitted by law that they do not have any rights as Partners to receive any information either pursuant to Sections 17-305(a) of the Delaware Act or otherwise except for the information identified in Section 3.3(a).

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(c) The Board of Directors may keep confidential from the Limited Partners, for such period of time as the Board of Directors deems reasonable, (i) any information that the Board of Directors or the General Partner determines is in the nature of trade secrets or (ii) other information the disclosure of which the Board of Directors determines (A) is not in the best interests of the Partnership Group, (B) could damage the Partnership Group or its business or (C) that any Group Member is required by law or regulation or by agreement with any third party to keep confidential (other than agreements with Affiliates of the Partnership the primary purpose of which is to circumvent the obligations set forth in this Section 3.3). Any disclosure of any of the foregoing information to Limited Partners shall require the prior written consent of the General Partner, which consent may be granted or withheld in its sole discretion.

(d) Notwithstanding any other provision of this Agreement or Section 17-305 of the Delaware Act, each of the Partners, each other Person or Group who acquires an interest in a Partnership Interest and each other Person bound by this Agreement hereby agrees to the fullest extent permitted by law that they do not have rights to receive information from the Partnership or any Indemnitee for the purpose of determining whether to pursue litigation or assist in pending litigation against the Partnership or any Indemnitee relating to the affairs of the Partnership except pursuant to the applicable rules of discovery relating to litigation commenced by such Person or Group.

ARTICLE IV

CERTIFICATES; RECORD HOLDERS; TRANSFER OF PARTNERSHIP

INTERESTS; REDEMPTION OF PARTNERSHIP INTERESTS

Section 4.1 Certificates. Owners of Partnership Interests and, where appropriate, Derivative Partnership Interests, shall be recorded in the Register and ownership of such interests shall be evidenced by a physical certificate or book entry notation in the Register. Notwithstanding anything to the contrary in this Agreement, unless the Board of Directors shall determine otherwise in respect of some or all of any or all classes of Partnership Interests and Derivative Partnership Interests, Partnership Interests and Derivative Partnership Interests shall not be evidenced by physical certificates. Certificates, if any, shall be executed on behalf of the Partnership by the Chief Executive Officer, President, Chief Financial Officer or any Vice President and the Secretary, any Assistant Secretary or other authorized officer of the Partnership, and shall bear the legend set forth in Section 4.7(c). The signatures of such officers upon a certificate may be facsimiles. In case any officer who has signed or whose signature has been placed upon such certificate shall have ceased to be such officer before such certificate is issued, it may be issued by the Partnership with the same effect as if he were such officer at the date of its issuance. If a Transfer Agent has been appointed for a class of Partnership Interests, no Certificate for such class of Partnership Interests shall be valid for any purpose until it has been countersigned by the Transfer Agent; provided, however, that, if the Board of Directors elects to cause the Partnership to issue Partnership Interests of such class in global form, the Certificate shall be valid upon receipt of a certificate from the Transfer Agent certifying that the Partnership Interests have been duly registered in accordance with the directions of the Partnership. With respect to any Partnership Interests that are represented by physical certificates, the Board of Directors may determine that such

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Partnership Interests will no longer be represented by physical certificates and may, upon written notice to the holders of such Partnership Interests and subject to applicable law, take whatever actions it deems necessary or appropriate to cause such Partnership Interests to be registered in book entry or global form and may cause such physical certificates to be cancelled or deemed cancelled.

Section 4.2 Mutilated, Destroyed, Lost or Stolen Certificates.

(a) If any mutilated Certificate is surrendered to the Transfer Agent, the appropriate officers of the Partnership shall execute, and the Transfer Agent shall countersign and deliver in exchange therefor, a new Certificate evidencing the same number and type of Partnership Interests or Derivative Partnership Interests as the Certificate so surrendered.

(b) The appropriate officers of the Partnership shall execute and deliver, and the Transfer Agent shall countersign, a new Certificate in place of any Certificate previously issued, if the Record Holder of the Certificate:

(i) makes proof by affidavit, in form and substance satisfactory to the Board of Directors, that a previously issued Certificate has been lost, destroyed or stolen;

(ii) requests the issuance of a new Certificate before the Partnership has notice that the Certificate has been acquired by a purchaser for value in good faith and without notice of an adverse claim;

(iii) if requested by the Partnership, delivers to the Partnership a bond, in form and substance satisfactory to the Partnership, with surety or sureties and with fixed or open penalty as the Partnership may direct to indemnify the Partnership, the Partners, the General Partner and the Transfer Agent against any claim that may be made on account of the alleged loss, destruction or theft of the Certificate; and

(iv) satisfies any other reasonable requirements imposed by the Partnership or the Transfer Agent.

If a Limited Partner fails to notify the Partnership within a reasonable period of time after such Limited Partner has notice of the loss, destruction or theft of a Certificate, and a transfer of the Limited Partner Interests represented by the Certificate is registered before the Partnership or the Transfer Agent receives such notification, to the fullest extent permitted by law, the Limited Partner shall be precluded from making any claim against the Partnership, the General Partner or the Transfer Agent for such transfer or for a new Certificate.

(c) As a condition to the issuance of any new Certificate under this Section 4.2, the Partnership may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Transfer Agent) reasonably connected therewith.

Section 4.3 Record Holders. The names and addresses of Unitholders as they appear in the Register shall be the official list of Record Holders of the Limited Partner Interests for all purposes. The Partnership and the General Partner shall be entitled to recognize the Record Holder as the Limited Partner with respect to any Limited Partner Interest and, accordingly, shall not be bound to recognize any equitable or other claim to, or interest in, such Limited Partner

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Interest on the part of any other Person or Group, regardless of whether the Partnership or the General Partner shall have actual or other notice thereof, except as otherwise provided by law or any applicable rule, regulation, guideline or requirement of any National Securities Exchange on which such Limited Partner Interests are listed or admitted to trading. Without limiting the foregoing, when a Person (such as a broker, dealer, bank, trust company or clearing corporation or an agent of any of the foregoing) is acting as nominee, agent or in some other representative capacity for another Person or Group in acquiring or holding Partnership Interests, as between the Partnership on the one hand, and such other Person or Group on the other, such representative Person shall be the Limited Partner with respect to such Limited Partner Interest upon becoming the Record Holder in accordance with Article X and have the rights and obligations of a Limited Partner hereunder as, and to the extent, provided herein, including Section 10.1(a).

Section 4.4 Transfer Generally.

(a) The term “transfer,” when used in this Agreement with respect to a Partnership Interest, shall be deemed to refer to a transaction (i) by which the General Partner assigns all or any part of its General Partner Interest to another Person, and includes a sale, assignment, gift, pledge, encumbrance, hypothecation, mortgage, exchange or any other disposition by law or otherwise or (ii) by which the holder of a Limited Partner Interest assigns all or any part of such Limited Partner Interest to another Person who is a Limited Partner or becomes a Limited Partner as a result thereof, and includes a sale, assignment, gift, exchange or any other disposition by law or otherwise, excluding a pledge, encumbrance, hypothecation or mortgage but including any transfer upon foreclosure of any pledge, encumbrance, hypothecation or mortgage.

(b) No Partnership Interest shall be transferred, in whole or in part, except in accordance with the terms and conditions set forth in this Article IV. Any transfer or purported transfer of a Partnership Interest not made in accordance with this Article IV shall be null and void, and the Partnership shall have no obligation to effect or recognize any such transfer or purported transfer.

(c) Nothing contained in this Agreement shall be construed to prevent or limit a disposition by any stockholder, member, partner or other owner of the General Partner or any Limited Partner of any or all of such Person’s shares of stock, membership interests, partnership interests or other ownership interests in the General Partner or such Limited Partner, and the term “transfer” shall not include any such disposition.

Section 4.5 Registration and Transfer of Limited Partner Interests.

(a) The Partnership shall keep, or cause to be kept by the Transfer Agent on behalf of the Partnership, the Register. Without limiting the foregoing and without limiting the discretion of the Board of Directors to change or appoint a new third-party Transfer Agent at any time, on or prior to the Series A Initial Issuance Date the Board of Directors shall appoint the same Transfer Agent for the Common Units to be Transfer Agent for the Series A Preferred Units, and on or prior to the date on which the Partnership issues Non-Voting Common Units the

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Board of Directors shall appoint the same Transfer Agent for the Common Units to be Transfer Agent for the Non-Voting Common Units.

(b) The Partnership shall not recognize any transfer of Limited Partner Interests evidenced by Certificates until the Certificates evidencing such Limited Partner Interests are surrendered for registration of transfer. No charge shall be imposed by the Partnership for such transfer; provided that, as a condition to the issuance of any new Certificate under this Section 4.5, the Partnership may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed with respect thereto and any other expenses (including the fees and expenses of the Transfer Agent) reasonably connected therewith. Upon surrender of a Certificate for registration of transfer of any Limited Partner Interests evidenced by a Certificate, and subject to the provisions of this Section 4.5(b), the appropriate officers of the Partnership shall execute and deliver, and in the case of Certificates evidencing Limited Partner Interests for which a Transfer Agent has been appointed, the Transfer Agent shall countersign and deliver, in the name of the holder or the designated transferee or transferees, as required pursuant to the holder’s instructions, one or more new Certificates evidencing the same aggregate number and type of Limited Partner Interests as was evidenced by the Certificate so surrendered. Upon the proper surrender of a Certificate, such transfer shall be recorded in the Register.

(c) Upon the receipt by the Partnership of proper transfer instructions from the Record Holder of uncertificated Partnership Interests, such transfer shall be recorded in the Register.

(d) By acceptance of any Limited Partner Interests pursuant to a transfer in accordance with this Article IV, each transferee of a Limited Partner Interest (including any nominee, or agent or representative acquiring such Limited Partner Interests for the account of another Person or Group) (i) shall be admitted to the Partnership as a Limited Partner with respect to the Limited Partner Interests so transferred to such Person when any such transfer or admission is reflected in the Register and such Person becomes the Record Holder of the Limited Partner Interests so transferred, (ii) shall become bound, and shall be deemed to have agreed to be bound, by the terms of this Agreement, (iii) shall be deemed to represent that the transferee has the capacity, power and authority to enter into this Agreement and (iv) shall be deemed to make any consents, acknowledgements or waivers contained in this Agreement, all with or without execution of this Agreement by such Person. The transfer of any Limited Partner Interests and the admission of any new Limited Partner shall not constitute an amendment to this Agreement.

(e) Subject to (i) the foregoing provisions of this Section 4.5, (ii) Section 4.3, (iii) Section 4.7, (iv) with respect to any class or series of Limited Partner Interests, the provisions of any statement of designations or an amendment to this Agreement establishing such class or series, (v) any contractual provisions binding on any Limited Partner and (vi) provisions of applicable law, including the Securities Act, Limited Partner Interests shall be freely transferable.

(f) The General Partner and its Affiliates shall have the right at any time to transfer their Common Units to one or more Persons; provided that NEE Equity may not transfer

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its Special Voting Units to any Person other than to an Affiliate of NEE Equity to which NEE Equity has also transferred the same number of its OpCo Common Units in accordance with the OpCo Partnership Agreement.

Section 4.6 Transfer of the General Partner’s General Partner Interest. The General Partner may transfer all or any part of its General Partner Interest without the consent of any other Partner. Notwithstanding anything herein to the contrary, no transfer by the General Partner of all or any part of its General Partner Interest to another Person shall be permitted unless (a) the transferee agrees to assume the rights and duties of the General Partner under this Agreement and to be bound by the provisions of this Agreement, (b) the Partnership receives an Opinion of Counsel that such transfer would not result in the loss of limited liability of any Limited Partner under the Delaware Act and (c) such transferee also agrees to purchase all (or the appropriate portion thereof, if applicable) of the partnership or membership interest the General Partner holds as the general partner or managing member, if any, of each other Group Member. In the case of a transfer pursuant to and in compliance with this Section 4.6, the transferee or successor (as the case may be) shall, subject to compliance with the terms of Section 10.2, be admitted to the Partnership as the General Partner effective immediately prior to the transfer of the General Partner Interest, and the business of the Partnership shall continue without dissolution.

Section 4.7 Restrictions on Transfers.

(a) Notwithstanding the other provisions of this Article IV, no transfer of any Partnership Interests shall be made if such transfer would (i) violate the then-applicable federal or state securities laws or rules and regulations of the Commission, any state securities commission or any other governmental authority with jurisdiction over such transfer, (ii) terminate the existence or qualification of the Partnership under the laws of the jurisdiction of its formation or (iii) cause the Operating Partnership or the Operating Partnership’s Subsidiaries to be treated as an association taxable as a corporation or otherwise to be taxed as an entity for federal income tax purposes (to the extent not already so treated or taxed). The Partnership may issue stop transfer instructions to any Transfer Agent in order to implement any restriction on transfer contemplated by this Agreement.

(b) The Board of Directors may impose restrictions on the transfer of Partnership Interests if it receives an Opinion of Counsel that such restrictions are necessary to (i) avoid a significant risk of the Operating Partnership or the Operating Partnership’s Subsidiaries becoming taxable as a corporation or otherwise becoming taxable as an entity for federal income tax purposes (to the extent not already so treated or taxed) or (ii) preserve the uniformity of the Limited Partner Interests (or any class or classes thereof). The Board of Directors may impose such restrictions by amending this Agreement; provided, however, that any amendment that would result in the delisting or suspension of trading of any class of Limited Partner Interests on the principal National Securities Exchange on which such class of Limited Partner Interests is then listed or admitted to trading must be approved, prior to such amendment being effected, by the holders of at least a majority of the Outstanding Limited Partner Interests of such class and any Outstanding Limited Partner Interest convertible into such class other than any Non-Voting Common Units (regardless of whether such Outstanding Limited Partnership Interest is then convertible), voting together as a single class.

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(c) Each certificate or book entry evidencing Partnership Interests (other than Series A Preferred Units) shall bear a conspicuous legend in substantially the following form:

THE HOLDER OF THIS SECURITY ACKNOWLEDGES FOR THE BENEFIT OF NEXTERA ENERGY PARTNERS, LP THAT THIS SECURITY MAY NOT BE TRANSFERRED IF SUCH TRANSFER (AS DEFINED IN THE PARTNERSHIP AGREEMENT) WOULD (A) VIOLATE THE THEN APPLICABLE FEDERAL OR STATE SECURITIES LAWS OR RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER GOVERNMENTAL AUTHORITY WITH JURISDICTION OVER SUCH TRANSFER OR (B) TERMINATE THE EXISTENCE OR QUALIFICATION OF NEXTERA ENERGY PARTNERS, LP UNDER THE LAWS OF THE STATE OF DELAWARE. THIS SECURITY MAY BE SUBJECT TO ADDITIONAL RESTRICTIONS ON ITS TRANSFER PROVIDED IN THE PARTNERSHIP AGREEMENT. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS SECURITY TO THE SECRETARY OF THE PARTNERSHIP AT THE PRINCIPAL OFFICE OF THE PARTNERSHIP. THE RESTRICTIONS SET FORTH ABOVE SHALL NOT PRECLUDE THE SETTLEMENT OF ANY TRANSACTIONS INVOLVING THIS SECURITY ENTERED INTO THROUGH THE FACILITIES OF ANY NATIONAL SECURITIES EXCHANGE ON WHICH THIS SECURITY IS LISTED OR ADMITTED TO TRADING.

ARTICLE V

CAPITAL CONTRIBUTIONS AND ISSUANCE OF PARTNERSHIP INTERESTS

Section 5.1 Capital Contributions. Neither the General Partner nor any Limited Partner will be required to make any additional Capital Contribution to the Partnership pursuant to this Agreement.

Section 5.2 Interest and Withdrawal.

No interest shall be paid by the Partnership on Capital Contributions. No Partner shall be entitled to the withdrawal or return of its Capital Contribution, except to the extent, if any, that distributions made pursuant to this Agreement or upon termination of the Partnership may be considered as such by law and then only to the extent provided for in this Agreement. Except to the extent expressly provided in this Agreement, no Partner shall have priority over any other Partner either as to the return of Capital Contributions or as to profits, losses or distributions. Any such return shall be a compromise to which all Partners agree within the meaning of Section 17-502(b) of the Delaware Act.

Section 5.3 Units.

(a) The Limited Partner Interests of the Limited Partners shall be represented by issued and outstanding Units, which may be divided into one or more types, classes or series, with each type, class or series having the rights and privileges set forth in this Agreement. The Partnership shall maintain a schedule of all Limited Partners from time to time, and the

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respective Units held by them. Ownership of a Unit shall not entitle a Limited Partner to call for a partition or division of any property of the Partnership or for any accounting. As of the date of this Agreement, the Partnership is authorized to issue Series A Preferred Units, Common Units, Non-Voting Common Units and Special Voting Units. All Series A Preferred Units, Common Units and Special Voting Units issued and outstanding immediately prior to the date of this Agreement shall remain issued and outstanding immediately following the date of this Agreement and shall be governed by the terms of this Agreement. Subject to Section 13.13, each holder of Common Units, and each holder of Special Voting Units, shall be entitled to cast, in person or by proxy, one vote for each Common Unit or Special Voting Unit, as applicable, on all matters upon which Limited Partners have the right to vote as set forth in this Agreement and provided under the Delaware Act. The rights of Series A Preferred Unitholders to vote together with the Common Units are set forth in Section 5.8(b)(iii). The rights of holders of Non-Voting Common Units to vote are set forth in Section 5.9(b)(iii).

(b) As of the date of this Agreement, the number of issued and outstanding Special Voting Units is equal to the number of OpCo Common Units held of record by NEE Equity. In the event that, after the date hereof, NEE Equity becomes the record holder of an additional OpCo Common Unit or ceases to be the record holder of any OpCo Common Unit, the Partnership shall issue Special Voting Units to NEE Equity or cancel Special Voting Units held by NEE Equity, as applicable, such that the number of Special Voting Units held by NEE Equity is equal to the number of OpCo Common Units held by NEE Equity; provided that no Special Voting Units shall be cancelled in connection with a transfer of Special Voting Units by NEE Equity to an Affiliate in accordance with Section 4.5(f). The determination of the Board of Directors as to the number of OpCo Common Units held of record by NEE Equity and the number of Special Voting Units held by NEE Equity shall be made by a good faith determination of the Board of Directors, based on the books and records of the Operating Partnership, which determination shall, absent manifest error, be conclusive and binding on all Partners.

(c) At such time as the Partnership issues Non-Voting Common Units, the Partnership shall contribute the cash proceeds or other consideration received from the issuance of such Non-Voting Common Units to the Operating Partnership in exchange for a number of OpCo Non-Voting Common Units equal to the number of Non-Voting Common Units so issued.

Section 5.4 Issuances of Additional Partnership Interests.

(a) Subject to Section 5.8(b)(iv), the Partnership may issue additional Partnership Interests (other than General Partner Interests) and Derivative Partnership Interests for any Partnership purpose at any time and from time to time to such Persons for such consideration and on such terms and conditions as the Board of Directors shall determine, all without the approval of any Partner; provided, however, that the Partnership shall not issue any additional Common Units, Non-Voting Common Units, Series A Preferred Units or Series A Parity Securities unless the Partnership contributes the cash proceeds or other consideration received from the issuance of such additional Common Units, Non-Voting Common Units, Series A Preferred Units or Series A Parity Securities in exchange for an equivalent number of OpCo Common Units, OpCo Non-Voting Common Units, OpCo Preferred Units or OpCo Series A Parity Securities, as applicable. Notwithstanding the foregoing, the Partnership may (x) issue Common Units (i) pursuant to employee benefit plans or pursuant to the Exchange Agreement or

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(ii) pursuant to a distribution (including any split or combination) of Common Units to all of the holders of Common Units pursuant to Section 5.6 and (y) issue Non-Voting Common Units pursuant to a distribution (including any split or combination) of Non-Voting Common Units to all of the holders of Non-Voting Common Units pursuant to Section 5.9(b)(v)(E).

(b) Each additional Partnership Interest authorized to be issued by the Partnership pursuant to Section 5.4(a) may be issued in one or more classes, or one or more series of any such classes, with such designations, preferences, rights, powers and duties (which may be senior to existing classes and series of Partnership Interests), as shall be fixed by the Board of Directors, including (i) the right to share in Partnership profits and losses or items thereof; (ii) the right to share in Partnership distributions; (iii) the rights upon dissolution and liquidation of the Partnership; (iv) whether, and the terms and conditions upon which, the Partnership may or shall be required to redeem the Partnership Interest; (v) whether such Partnership Interest is issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which each Partnership Interest will be issued, evidenced by Certificates and assigned or transferred; (vii) the method for determining the Percentage Interest as to such Partnership Interest; and (viii) the right, if any, of each such Partnership Interest to vote on Partnership matters, including matters relating to the relative rights, preferences and privileges of such Partnership Interest.

(c) The Board of Directors shall take all actions that it determines to be necessary or appropriate in connection with (i) each issuance of Partnership Interests and Derivative Partnership Interests pursuant to this Section 5.4, (ii) the conversion of the Combined Interest into Units pursuant to the terms of this Agreement, (iii) reflecting admission of such additional Limited Partners in the Register as the Record Holders of such Limited Partner Interests and (iv) all additional issuances of Partnership Interests. The Board of Directors shall determine the relative rights, powers and duties of the holders of the Units or other Partnership Interests being so issued. The Board of Directors shall do all things necessary to comply with the Delaware Act and is authorized and directed to do all things that it determines to be necessary or appropriate in connection with any future issuance of Partnership Interests or in connection with the conversion of the Combined Interest into Units pursuant to the terms of this Agreement, including compliance with any statute, rule, regulation or guideline of any federal, state or other governmental agency or any National Securities Exchange on which the Units or other Partnership Interests are listed or admitted to trading.

(d) No fractional Units shall be issued by the Partnership.

Section 5.5 Limited Preemptive Right.

(a) Except as provided in this Section 5.5 or as otherwise provided in a separate agreement by the Partnership, no Person shall have any preemptive, preferential or other similar right with respect to the issuance of any Partnership Interest, whether unissued, held in the treasury or hereafter created.

(b) The General Partner shall have the right, which it may from time to time assign in whole or in part to any of its Affiliates, to purchase Partnership Interests from the Partnership whenever, and on the same terms that, the Partnership issues Partnership Interests to

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Persons other than the General Partner and its Affiliates, to the extent necessary to maintain the Adjusted Percentage Interests of the General Partner and its Affiliates equal to that which existed immediately prior to the issuance of such Partnership Interests.

(c) After the Series A Initial Issuance Date, for as long as any Series A Purchase Agreement Purchaser or any of its then-Affiliates continues to own any Series A Preferred Units, such Series A Purchase Agreement Purchaser (or its then-Affiliate designees) shall have the right to purchase any Series A Preferred Units or Series A Parity Securities proposed to be issued by the Partnership (other than any Series A PIK Units or any Series A Parity Security PIK units) to any Person other than the Series A Purchase Agreement Purchasers or their Affiliates in an amount equal to the number of such Series A Preferred Units or Series A Parity Securities required in order to maintain such Series A Purchase Agreement Purchaser’s (and its Affiliates that own Series A Preferred Units) Adjusted Percentage Interest (assuming conversion of any outstanding convertible securities) equal to that which existed immediately prior to the issuance of such Series A Preferred Units or Series A Parity Securities, on the same terms and conditions that apply to all offerees in such transaction. In the event of a proposed transaction giving rise to any Series A Purchase Agreement Purchaser’s preemptive rights under the foregoing sentence, the Partnership shall provide notice to the Series A Purchase Agreement Purchasers by sending notice to the BlackRock Purchaser (on behalf of itself and as representative of the other Series A Purchase Agreement Purchasers and any such Affiliates and to the BlackRock Purchaser Notice Address) no later than ten (10) Business Days prior to the expected consummation of such transaction. The BlackRock Purchaser shall provide notice (on behalf of itself and/or any other Series A Purchase Agreement Purchasers) of its and any other Series A Purchase Agreement Purchaser’s (and its Affiliates that own Series A Preferred Units) election to exercise its or their preemptive rights within five (5) Business Days after the Partnership gives the notice described in the immediately preceding sentence by delivering such notice to the Partnership at both of the following physical addresses (or such other address or addresses as the Partnership may designate in writing to the BlackRock Purchaser from time to time):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Treasurer

and

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Daniel Lotano

With a copy to (which shall not constitute notice):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Mark Patten

Email: Mark.Patten@nexteraenergy.com

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If no notice from the BlackRock Purchaser is received by the Partnership within the specified time, neither the BlackRock Purchaser nor any other Series A Purchase Agreement Purchaser (or any of their Affiliates) shall have any further preemptive rights with respect to such proposed transaction. The Series A Purchase Agreement Purchasers may not transfer their preemptive rights under this Section 5.5(c) (on behalf of itself and/or its Affiliates) (other than to its Affiliates), and each Series A Purchase Agreement Purchaser, and its Affiliates and Affiliate transferees, shall no longer have preemptive rights under this Section 5.5(c) after the occurrence of a Series A Purchaser Change of Control with respect to such Series A Purchase Agreement Purchaser. The BlackRock Purchaser may not transfer any of the rights or obligations to give or receive notices hereunder (on behalf of itself and/or any Series A Purchase Agreement Purchaser or any of its or their Affiliates), without the express written consent of the Partnership. Following such time as the BlackRock Purchaser ceases to own Series A Preferred Units, the BlackRock Purchaser may continue to give or receive notices under this Section 5.5(c) on behalf of any other Series A Purchase Agreement Purchaser or any of its Affiliates who continue to have rights under this Section 5.5(c).

Section 5.6 Splits and Combinations.

(a) Subject to Section 5.6(d), the Partnership may make a Pro Rata distribution of Partnership Interests to all Record Holders or may effect a subdivision or combination of Partnership Interests so long as, after any such event, each Partner shall have the same Percentage Interest in the Partnership as before such event (subject to the effect of Section 5.8(b)(vi)(E)), and any amounts calculated on a per Unit basis or stated as a number of Units are proportionately adjusted; provided, however, that the Partnership may not effect a subdivision or combination of Partnership Interests described in this Section 5.6(a) unless the Operating Partnership also effects an equivalent subdivision or combination.

(b) Whenever such a distribution, subdivision or combination of Partnership Interests is declared, the Board of Directors shall select a Record Date as of which the distribution, subdivision or combination shall be effective and shall send notice thereof at least twenty (20) days prior to such Record Date to each Record Holder as of a date not less than ten (10) days prior to the date of such notice (or such shorter periods as required by applicable law). The Board of Directors also may cause a firm of independent public accountants selected by it to calculate the number of Partnership Interests to be held by each Record Holder after giving effect to such distribution, subdivision or combination. The Board of Directors shall be entitled to rely on any certificate provided by such firm as conclusive evidence of the accuracy of such calculation.

(c) Promptly following any such distribution, subdivision or combination, the Partnership may issue Certificates or uncertificated Partnership Interests to the Record Holders of Partnership Interests as of the applicable Record Date representing the new number of Partnership Interests held by such Record Holders, or the Board of Directors may adopt such other procedures that it determines to be necessary or appropriate to reflect such changes. If any such combination results in a smaller total number of Partnership Interests Outstanding, the Partnership shall require, as a condition to the delivery to a Record Holder of Partnership Interests represented by Certificates, the surrender of any Certificate held by such Record Holder immediately prior to such Record Date.

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(d) The Partnership shall not issue fractional Units upon any distribution, subdivision or combination of Units. If a distribution, subdivision or combination of Units would result in the issuance of fractional Units but for the provisions of Section 5.4(d) and this Section 5.6(d), each fractional Unit shall be rounded to the nearest whole Unit (with fractional Units equal to or greater than a 0.5 Unit being rounded to the next higher Unit).

Section 5.7 Fully Paid and Non-Assessable Nature of Limited Partner Interests. All Limited Partner Interests issued pursuant to, and in accordance with the requirements of, this Article V shall be fully paid and non-assessable Limited Partner Interests in the Partnership, except as such non-assessability may be affected by Sections 17-303, 17-607 or 17-804 of the Delaware Act.

Section 5.8 Series A Preferred Units.

(a) General. There is hereby created a class of Units designated as “Series A Convertible Preferred Units,” with the designations, preferences and relative, participating, optional or other special rights, powers and duties as set forth in this Section 5.8 and elsewhere in this Agreement.

(b) Rights of Series A Preferred Units. The Series A Preferred Units shall have the following rights, preferences and privileges and the Series A Preferred Unitholders shall be subject to the following duties and obligations:

(i) Distributions.

(A) Subject to Section 5.8(b)(i)(B), commencing with the Quarter that includes the Series A Initial Issuance Date, subject to Section 5.8(b)(i)(D), the Record Holders of the Series A Preferred Units as of the applicable Record Date for each Quarter shall be entitled to receive, in respect of each Outstanding Series A Preferred Unit, cumulative distributions in respect of such Quarter equal to the sum of (1) the Series A Distribution Amount for such Quarter and (2) any Series A Unpaid Distributions (collectively, a “Series A Quarterly Distribution”). With respect to any Quarter (or portion thereof for which a Series A Quarterly Distribution is due) ending on or before the end of the Initial Distribution Period for a Series A Preferred Unit, such Series A Quarterly Distribution shall be paid, as determined by the Board of Directors, in its sole discretion, in Series A PIK Units or in cash, or in a combination of Series A PIK Units and cash. For any Quarter ending after the end of the Initial Distribution Period for a Series A Preferred Unit, each Series A Quarterly Distribution on such Series A Preferred Unit shall be paid, as determined by the Board of Directors, in its sole discretion, in cash or in a combination of Series A PIK Units and cash; provided that, no more than one-ninth (1/9th) of any such Series A Quarterly Distribution shall consist of Series A PIK Units for any Quarter following the Quarter during which the Initial Distribution Period ends; and provided, further, that for the Quarter during which the Initial Distribution Period ends, (i) the portion of the Series A Distribution Amount calculated through the end of the Initial Distribution Period shall not be subject to the foregoing one-ninth (1/9th) limitation, and (ii) the portion of the Series A Distribution Amount calculated after the end of the Initial Distribution Period shall be subject to the

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foregoing one-ninth (1/9th) limitation. If the Board of Directors, in its sole discretion, elects to pay all or any portion of a Series A Quarterly Distribution in Series A PIK Units, the number of Series A PIK Units to be issued in connection with such Series A Quarterly Distribution shall equal the quotient of (A) the applicable Series A Distribution Amount (or portion thereof to be paid in Series A PIK Units) divided by (B) the Series A Issue Price; provided that instead of issuing any fractional Series A PIK Unit, the Partnership shall round the number of Series A PIK Units issued to each Series A Preferred Unitholder down to the nearest whole Series A PIK Unit and pay cash in lieu of any resulting fractional unit (with the amount of such cash payment being based on the value of such fractional Series A PIK Unit, which shall be the product of the Series A Issue Price multiplied by the number of Series A Conversion Units into which such fractional Series A PIK Units would be convertible at the applicable Series A Conversion Rate on such Record Date (without regard to whether any Series A Preferred Units are then convertible)). Each Series A Quarterly Distribution shall be paid within 45 days following the end of each Quarter (each such payment date, a “Series A Distribution Payment Date”) and, unless otherwise determined by the Board of Directors, in its sole discretion, shall have the same Record Date as established by the Partnership for any distribution to be made by the Partnership on other Partnership Interests in respect of such Quarter. For the avoidance of doubt, subject to Section 5.8(b)(i)(D), the Series A Preferred Units shall not be entitled to any distributions made to Common Unitholders pursuant to Section 6.1(b) for any Quarter so long as the Series A Quarterly Distribution has been declared and paid in full (including any Series A Unpaid Distributions comprising part thereof) in accordance with this Section 5.8(b)(i) on the Series A Preferred Units with respect to such Quarter.

(B) If the Partnership fails to pay in full the Series A Distribution Amount of any Series A Quarterly Distribution (in cash or Series A PIK Units) when due for any Quarter during the applicable Initial Distribution Period, then the Series A Preferred Unitholders entitled to such unpaid Series A Quarterly Distribution shall be deemed to have nonetheless received such Series A Quarterly Distribution in Series A PIK Units and, accordingly, shall have all other rights under this Agreement as if such Series A PIK Units had, in fact, been issued on the date such distribution was due. If the Partnership fails to pay in full the Series A Distribution Amount of any Series A Quarterly Distribution (in cash or Series A PIK Units) in accordance with Section 5.8(b)(i)(A) when due for any Quarter following the applicable Initial Distribution Period, then (i) the Series A Preferred Unitholders entitled to such unpaid Series A Quarterly Distribution shall be deemed to have nonetheless received one-ninth (1/9th) of such Series A Quarterly Distribution in Series A PIK Units and, accordingly, shall have all other rights under this Agreement as if such Series A PIK Units had, in fact, been issued on the date such distribution was due and (ii) from and after the first date of such failure and continuing until such failure is cured by payment in full in cash of all such arrearages (which arrearages shall exclude, for the avoidance of doubt, the Series A PIK Units deemed received under the immediately preceding clause (i)), (1) the amount of such unpaid cash distributions (on a per Series A Preferred Unit basis, “Series A Unpaid Distributions”) unless and until paid will accrue and accumulate from and including the first day of the Quarter immediately following the Quarter in respect of which such payment is due until paid in full and (2) the Partnership shall not be permitted to, and

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shall not, declare or make, any distributions, redemptions or repurchases in respect of any Series A Junior Securities or Series A Parity Securities (including, for the avoidance of doubt, with respect to the Quarter for which the Partnership first failed to pay in full any such cash Series A Distribution Amount when due); provided, however, that pro rata distributions may be declared and paid on the Series A Preferred Units and the Series A Parity Securities in amounts per Series A Preferred Unit and Series A Parity Security that bear to each other the same ratio that accrued and accumulated distributions per Series A Preferred Unit and Series A Parity Security bear to each other.

(C) The aggregate Series A Distribution Amount (excluding any portion paid in Series A PIK Units) shall be paid out of Available Cash and, for the avoidance of doubt, shall be paid prior to any distributions to the Common Unitholders under Section 6.1.

(D) Notwithstanding anything in this Section 5.8(b)(i) to the contrary, with respect to any Series A Preferred Unit that is converted into a Common Unit, (i) with respect to a distribution to be made to Record Holders as of the Record Date preceding such conversion, the Record Holder as of such Record Date of such Series A Preferred Unit shall be entitled to receive such distribution in respect of such Series A Preferred Unit on the corresponding Series A Distribution Payment Date, but shall not be entitled to receive such distribution in respect of the Common Units into which such Series A Preferred Unit was converted on the payment date thereof, and (ii) with respect to a distribution to be made to Record Holders as of any Record Date following such conversion, the Record Holder as of such Record Date of the Common Units into which such Series A Preferred Unit was converted shall be entitled to receive such distribution in respect of such converted Common Units on the payment date thereof, but shall not be entitled to receive such distribution in respect of such Series A Preferred Unit on the corresponding Series A Distribution Payment Date. For the avoidance of doubt, if a Series A Preferred Unit is converted into Common Units pursuant to the terms hereof following a Record Date but prior to the corresponding Series A Distribution Payment Date, then the Record Holder of such Series A Preferred Unit as of such Record Date shall nonetheless remain entitled to receive on the Series A Distribution Payment Date a distribution in respect of such Series A Preferred Unit pursuant to Section 5.8(b)(i)(A) and, until such distribution is received, Section 5.8(b)(i)(B) shall continue to apply, but shall not be entitled to receive such distribution in respect of the Common Units into which such Series A Preferred Unit was converted on the Series A Distribution Payment Date.

(E) When any Series A PIK Units are payable to a Series A Preferred Unitholder pursuant to this Section 5.8, the Partnership shall issue the Series A PIK Units to such holder in accordance with Section 5.8(b)(i)(A) (the date of issuance of such Series A PIK Units, the “Series A PIK Payment Date”). On the Series A PIK Payment Date, the Partnership shall have the option to (i) issue to such Series A Preferred Unitholder a certificate or certificates for the number of Series A PIK Units to which such Series A Preferred Unitholder shall be entitled, or (ii) cause the Transfer Agent to make a notation in book entry form in the books of the Partnership.

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(ii) Issuance of the Series A Preferred Units. The Series A Preferred Units (other than the Series A PIK Units) shall be issued by the Partnership pursuant to the terms and conditions of the Series A Purchase Agreement (as to the Series A Purchase Agreement Purchasers) and pursuant to such terms and conditions the Partnership in its sole discretion determines (with respect to any Series A Purchaser who subsequently purchases any Series A Preferred Units issued in accordance with Section 5.8(b)(iv)).

(iii) Voting Rights.

(A) The Outstanding Series A Preferred Units shall have voting rights that are identical to the voting rights of the Common Units and shall vote with the Common Units as a single class, so that each Outstanding Series A Preferred Unit will be entitled to one vote for each Common Unit into which such Series A Preferred Unit would be convertible at the then applicable Series A Conversion Rate (regardless of whether the Series A Preferred Units are then convertible) on each matter with respect to which each Record Holder of a Common Unit is entitled to vote. Each reference in this Agreement to a vote of Record Holders of Common Units shall be deemed to be a reference to the Record Holders of Common Units and Series A Preferred Units, voting together as a single class during any period in which any Series A Preferred Units are Outstanding.

(B) Notwithstanding anything to the contrary in this Section 5.8(b)(iii), in no event shall the consent of the Series A Preferred Unitholders, as a separate class, be required in connection with any Series A Change of Control; provided, however, that the foregoing shall not limit the voting rights of any Series A Preferred Unitholder in connection with any vote of Record Holders of Common Units and Series A Preferred Units together as a single class that may be required.

(C) Notwithstanding any rights a Series A Preferred Unitholder may have under this Agreement or applicable law, until the Series A Preferred Units are converted to Series A Conversion Units in accordance with the terms hereof, each Series A Preferred Unitholder hereby fully waives any right to nominate or participate in the nomination of any Person for election as a Director of the Partnership or as a member of any other governing body of the Partnership; provided, however, that the foregoing shall not limit the voting rights of a Preferred Unitholder in the election and removal of LP Elected Directors and in the removal of the General Partner in accordance with Section 5.8(b)(iii)(A). For the avoidance of doubt, the foregoing waiver shall not apply to any Series A Preferred Units that have been converted to Series A Conversion Units.

(D) Notwithstanding any other provision of this Agreement, the Partnership shall not declare or pay distributions in any given Quarter that exceed an amount equal to the then available Capital Distribution Basket from (i) borrowings, refinancing or refundings of indebtedness and sales of debt securities by the Partnership, (ii) sales of equity interests by the Partnership and (iii) sales or dispositions of any assets of the Partnership (any of the foregoing, “Capital Proceeds”).

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(iv) No Series A Senior Securities; Series A Parity Securities. Other than issuances contemplated by the Series A Purchase Agreement, the Partnership shall not, without the consent of the holders of the Series A Required Voting Percentage, issue any (A) Series A Senior Securities (or amend the provisions of any class of Partnership Interests to make such class of Partnership Interests a class of Series A Senior Securities) or (B) Series A Parity Securities (or amend the provisions of any class of Partnership Interests to make such class of Partnership Interests a class of Series A Parity Securities) or Series A Preferred Units; provided that, without the consent or vote of any Series A Preferred Unitholder (but without prejudice to their rights under Section 5.8(b)(iii)(A)), the Partnership may issue after the Series A Initial Issuance Date (1) Series A Preferred Units pursuant to the Series A Purchase Agreement, (2) up to the greater of (a) an aggregate issue price of $1 billion of Series A Parity Securities, and (b) a number of Series A Parity Securities such that, as of the date of the issuance of the Series A Parity Securities, the aggregate number of Series A Parity Securities, together with the Series A Preferred Units contemplated by the Series A Purchase Agreement, in each case on an as-converted basis (or, if the Series A Parity Securities are not convertible, assuming that such Series A Parity Securities are convertible into a number of Common Units equal to the quotient of (i) the aggregate purchase price for such Series A Parity Securities, divided by (ii) the Average VWAP for the thirty (30) Trading Day period ending immediately prior to such issuance (such Common Units, the “Series A Parity Equivalent Units”)), equals no more than fifteen percent (15%) of all Outstanding Common Units and Special Voting Units (including as Outstanding for such purposes, (i) any Common Units issuable in respect of the Series A Preferred Units at the then-applicable Series A Conversion Rate (regardless of whether the Series A Preferred Units are then convertible), (ii) any Common Units issuable in respect of Series A Parity Securities (including any warrants issued in connection with Series A Parity Securities) at the initial or then-applicable conversion rate, as applicable, (iii) any Common Units issuable in respect of any outstanding warrants or options issued by the Partnership, (iv) any Series A Parity Equivalent Units and (v) any Common Units that would otherwise be excluded by operation of the definition of the term “Outstanding”), and (3) if the Series A Purchase Agreement Purchasers and their then-Affiliates hold a number of Series A Preferred Units purchased under the Series A Purchase Agreement (excluding for this purpose, for the avoidance of doubt, any Series A PIK Units) having an aggregate Series A Issue Price of less than or equal to thirty-three and one-third percent (33-1/3%) of the aggregate Series A Issue Price of all Series A Preferred Units purchased pursuant to the Series A Purchase Agreement (excluding for this purpose, for the avoidance of doubt, any Series A PIK Units), then such number of Series A Parity Securities as determined by the Board of Directors, in its sole discretion, at any time on and after the first time that the Series A Purchase Agreement Purchasers’ and their Affiliates’ holdings are below such threshold; provided that following a Series A Purchaser Change of Control with respect to a Series A Purchase Agreement Purchaser, any Series A Preferred Units held by such Series A Purchase Agreement Purchaser and its Affiliates shall not be considered held by a Series A Purchaser Agreement Purchaser and its then-Affiliates for purposes of the determination under the foregoing clause (3). Subject to Section 5.8(b)(vi)(E), the Partnership may, without any consent or vote of the holders of Outstanding Series A Preferred Units (but without prejudice to their rights under Section 5.8(b)(iii)(A)), issue

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the Series A PIK Units contemplated by this Agreement or create (by reclassification or otherwise) and issue Series A Junior Securities in an unlimited amount.

(v) Legends. Each certificate or book entry evidencing a Series A Preferred Unit shall bear a conspicuous legend in substantially the form set forth in Exhibit C of this Agreement.

(vi) Conversion.

(A) At the Option of the Series A Preferred Unitholders. Beginning with the earlier of (1) the second (2^nd) anniversary of (x) the date of the Series A Purchase Agreement, with respect to the Series A Preferred Units purchased by the Series A Purchase Agreement Purchasers under the Series A Purchase Agreement, or (y) the date of issuance of a Series A Preferred Unit, with respect to any Series A Purchaser who subsequently purchases any Series A Preferred Units issued in accordance with Section 5.8(b)(iv), and (2) immediately prior to the liquidation of the Partnership under Section 12.4, the Series A Preferred Units owned by such Series A Preferred Unitholder on such date shall be convertible, in whole or in part, at any time and from time to time thereafter upon the request of such Series A Preferred Unitholder, but not more than once per Quarter, in accordance with this Section 5.8(b)(vi). If Series A Preferred Units purchased by the Series A Purchase Agreement Purchasers become convertible under clause (x) of the preceding sentence, each such Series A Purchase Agreement Purchaser and its Affiliates shall be entitled to (and limited to) a single conversion right per Quarter (in the aggregate and inclusive of any conversion by any such Series A Purchase Agreement Purchaser’s Affiliates, with each Series A Purchase Agreement Purchaser and its Affiliates being entitled to a single separate conversion right per Quarter), which may be exercised only by the delivery by the BlackRock Purchaser (on behalf of itself and any other Series A Purchase Agreement Purchasers, and any of its or their Affiliates) of a proper Series A Conversion Notice. If Series A Preferred Units owned by a non-Affiliate transferee of a Series A Purchase Agreement Purchaser (or an Affiliate thereof) become convertible under clause (x) of the first sentence of this paragraph, or if Series A Preferred Units owned by a purchaser of Series A Preferred Units issued under Section 5.8(b)(iv) become convertible under clause (y) of the first sentence of this paragraph, each such other Series A Preferred Unitholder and its Affiliates shall be entitled to (and limited to) a single conversion right per Quarter (in the aggregate and inclusive of any conversion by such Series A Preferred Unitholder’s Affiliates). If Series A Preferred Units become convertible under this Section 5.8(b)(vi)(A), such Series A Preferred Units shall be convertible into a number of Common Units determined by multiplying the number of Series A Preferred Units to be converted by (y) in the case of clause (1) of the first sentence of this paragraph, the Series A Conversion Rate at such time and (z) in the case of clause (2) of the first sentence of this paragraph, the Series A COC Conversion Rate; provided, however, that the Partnership shall not be obligated to honor any such conversion request if such conversion request does not involve an underlying value of Common Units of at least $50 million (taking into account and including any concurrent conversion requests or other Quarterly conversion requests that are required to be aggregated as provided above) based on the Closing Price of Common Units on the Trading Day immediately preceding the date on which a Series A Conversion Notice is

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received under Section 5.8(b)(vi)(C)(1) (a “Series A Conversion Notice Date”) (or a lesser amount to the extent such exercise covers all of such Series A Preferred Unitholder’s and its Affiliates’ Series A Preferred Units or has been approved by the Partnership). Immediately upon the issuance of Common Units as a result of any conversion of Series A Preferred Units, subject to Section 5.8(b)(i)(D), all rights of the Series A Converting Unitholder with respect to such Series A Preferred Units shall cease, including any further accrual of distributions, and such Series A Converting Unitholder thereafter shall be treated for all purposes as the owner of Common Units. Fractional Common Units shall not be issued to any Person pursuant to this Section 5.8(b)(vi)(A) (each fractional Common Unit shall be rounded down with the remainder being paid an amount in cash based on the Closing Price of Common Units on the Trading Day immediately preceding the Series A Conversion Notice Date).

(B) At the Option of the Partnership. Following the first anniversary of the date of issuance of a Series A Preferred Unit, the Partnership shall have the option at any time, but not more than once per Quarter, to convert all or a portion of the Series A Preferred Units that were issued on such date and that are then Outstanding into a number of Common Units determined by multiplying the number of Series A Preferred Units to be converted by the Series A Conversion Rate at such time; provided, however, that the Partnership shall not be permitted to convert a number of Series A Preferred Units representing in aggregate more than (x) one-third (1/3) of the total Series A Preferred Units issued pursuant to the Series A Purchase Agreement prior to the second (2^nd) anniversary of the final date Series A Preferred Units are purchased under the Series A Purchase Agreement (excluding, for this purpose, for the avoidance of doubt, any Series A PIK Units) or (y) two-thirds (2/3) of the total Series A Preferred Units issued pursuant to the Series A Purchase Agreement prior to the third (3^rd) anniversary of the final date Series A Preferred Units are purchased under the Series A Purchase Agreement (excluding, for this purpose, for the avoidance of doubt, any Series A PIK Units). Fractional Common Units shall not be issued to any Person pursuant to this Section 5.8(b)(vi)(B) (each fractional Common Unit shall be rounded down with the remainder being paid an amount in cash based on the Closing Price of Common Units on the Trading Day immediately preceding the date on which a Series A Forced Conversion Notice under Section 5.8(b)(vi)(C)(2) is sent (a “Series A Forced Conversion Notice Date”)). Notwithstanding the foregoing, in order for the Partnership to exercise such option:

(1) The Closing Price of the Common Units must be greater than, (x) with respect to a Series A Forced Conversion Notice Date occurring prior to the second (2^nd) anniversary of the final date Series A Preferred Units are purchased under the Series A Purchase Agreement (excluding, for this purpose, for the avoidance of doubt, any Series A PIK Units), one hundred twenty percent (120%) of the Series A Issue Price, (y) with respect to a Series A Forced Conversion Notice Date occurring on or after the second (2^nd) anniversary of the final date Series A Preferred Units are purchased under the Series A Purchase Agreement (excluding, for this purpose, for the avoidance of doubt, any Series A PIK Units) but prior to the third (3^rd) anniversary thereof, one hundred thirty percent (130%) of the Series A Issue Price, or (z) with respect to a Series A

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Forced Conversion Notice Date occurring on or after the third (3^rd) anniversary of the final date Series A Preferred Units are purchased under the Series A Purchase Agreement (excluding, for this purpose, for the avoidance of doubt, any Series A PIK Units), one hundred forty percent (140%), of the Series A Issue Price, for at least twenty (20) Trading Days out of the thirty (30) Trading Day period immediately preceding the Series A Forced Conversion Notice Date;

(2) The average daily trading volume of the Common Units on the National Securities Exchange on which the Common Units are then listed or admitted to trading must be equal to or exceed 165,000 (as such amount may be adjusted to reflect any Unit split, combination or similar event) for at least twenty (20) Trading Days out of the thirty (30) Trading Day period immediately preceding the Series A Forced Conversion Notice Date; and

(3) The Common Units are listed or admitted to trading on a National Securities Exchange;

provided that each such conversion by the Partnership shall be for an aggregate amount of Series A Preferred Units involving an underlying value of Common Units of at least $50 million based on the Closing Price of Common Units on the Trading Day immediately preceding the Series A Forced Conversion Notice Date (or a lesser amount if such amount includes all then Outstanding Series A Preferred Units) and shall be allocated among the Series A Preferred Unitholders on a Pro Rata basis or on such other basis as may be agreed upon by all Series A Preferred Unitholders.

(1) To convert Series A Preferred Units into Common Units pursuant to Section 5.8(b)(vi)(A), a Series A Converting Unitholder shall give written notice (a “Series A Conversion Notice”) to the Partnership stating that such Series A Preferred Unitholder elects to so convert Series A Preferred Units pursuant to Section 5.8(b)(vi)(A), the number of Series A Preferred Units to be converted. The Series A Conversion Units shall be issued in the name of the Record Holder of such Series A Preferred Units. A Series A Converting Unitholder who is a Series A Purchase Agreement Purchaser (or an Affiliate thereof) may only provide a Series A Conversion Notice through the BlackRock Purchaser as and to the extent provided in Section 5.8(b)(vi)(A), and the BlackRock Purchaser may not transfer any of the rights or obligations to give or receive notices under this Section 5.8(b)(vi) (on behalf of itself and/or any Series A Purchase Agreement Purchaser or any of its or their Affiliates) without the express written consent of the Partnership. Following such time as the BlackRock Purchaser ceases to own Series A Preferred Units, the BlackRock Purchaser may continue to give or receive notices pursuant to the foregoing on behalf of any other Series A Purchase Agreement Purchaser or any of its Affiliates who are required to provide notice through the BlackRock Purchaser under

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this Section 5.8(b)(vi). A Series A Conversion Notice shall be considered given under this Section 5.8(b)(vi) when such notice is actually received by the Partnership at both of the following physical addresses (or such other address or addresses as the Partnership may designate in writing to the BlackRock Purchaser from time to time):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Treasurer

and

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Daniel Lotano

With a copy to (which shall not constitute notice):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Mark Patten

Email: Mark.Patten@nexteraenergy.com

(2) To convert Series A Preferred Units into Common Units pursuant to Section 5.8(b)(vi)(B), the Partnership shall give written notice (a “Series A Forced Conversion Notice”) to each Record Holder of Series A Preferred Units stating that the Partnership elects to force conversion of Series A Preferred Units pursuant to Section 5.8(b)(vi)(B) and the number of Series A Preferred Units to be so converted; provided that the Partnership may satisfy the foregoing with respect to any or all Series A Purchase Agreement Purchasers and any or all of their Affiliates by sending such Series A Forced Conversion Notice solely to the BlackRock Purchaser (on behalf of itself and as representative of the other Series A Purchase Agreement Purchasers and its and their Affiliates) to the BlackRock Purchaser Notice Address. The Series A Conversion Units shall be issued in the name of the Record Holder of such Series A Preferred Units.

(D) Timing. If a Series A Conversion Notice is delivered by a Series A Preferred Unitholder to the Partnership or a Series A Forced Conversion Notice is delivered by the Partnership to a Series A Preferred Unitholder, each in accordance with Section 5.8(b)(vi)(C), the Partnership shall issue the applicable Series A Conversion Units no later than three (3) Business Days after the Series A Conversion Notice Date or the Series A Forced Conversion Notice Date, as the case may be, occurs (any date of issuance of such Common Units, and any date of issuance of Common Units upon conversion of Series A Preferred Units pursuant to this Section 5.8(b)(vi) or Section 5.8(b)(vii), a “Series A Conversion Date”). On the Series A Conversion Date, the Partnership shall instruct, and shall use its commercially reasonable efforts to cause, its Transfer Agent to electronically transmit the Series A Conversion Units to such Series A

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Preferred Unitholder. The Series A Preferred Unitholders and the Partnership agree to use commercially reasonable efforts to coordinate with the Transfer Agent to accomplish this objective. Subject to Section 5.8(b)(i)(D), upon issuance of Series A Conversion Units to the Series A Converting Unitholder, all rights under the converted Series A Preferred Units shall cease, and such Series A Converting Unitholder shall be treated for all purposes as the Record Holder of such Series A Conversion Units.

(E) Distributions, Combinations, Subdivisions and Reclassifications by the Partnership. If, after the Series A Initial Issuance Date, the Partnership (i) makes a distribution on its Common Units payable in Common Units or other Partnership Interests, (ii) subdivides or splits its outstanding Common Units into a greater number of Common Units, (iii) combines or reclassifies its Common Units into a lesser number of Common Units, (iv) issues by reclassification of its Common Units any Partnership Interests (including any reclassification in connection with a merger, consolidation or business combination in which the Partnership is the surviving Person), (v) effects a Pro Rata repurchase of Common Units, in each case other than in connection with a Series A Change of Control (which shall be governed by Section 5.8(b)(vii)), (vi) issues to holders of Common Units, in their capacity as holders of Common Units, rights, options or warrants entitling them to subscribe for or purchase Common Units at less than the market value thereof, (vii) distributes to holders of Common Units evidences of indebtedness, Partnership Interests (other than Common Units) or other assets (including securities, but excluding any distribution referred to in clause (i), any rights or warrants referred to in clause (ii), any consideration payable in connection with a tender or exchange offer made by the Partnership or any of its subsidiaries and any distribution of Units or any class or series, or similar Partnership Interest, of or relating to a subsidiary or other business unit in the case of certain spin-off transactions described below), or (viii) consummates a spin-off, where the Partnership makes a distribution to all holders of Common Units consisting of Units of any class or series, or similar equity interests of, or relating to, a subsidiary or other business unit, then the Series A Conversion Rate and, solely for purposes Section 5.8(b)(vi)(B)(1), the Series A Issue Price, in each case, in effect at the time of the Record Date for such distribution or the effective date of any such other transaction shall be proportionately adjusted: (1) in respect of clauses (i) through (iv) above, so that the conversion of the Series A Preferred Units after such time shall entitle each Series A Preferred Unitholder to receive the aggregate number of Common Units (or any Partnership Interests into which such Common Units would have been combined, consolidated, merged or reclassified, as applicable) that such Series A Preferred Unitholder would have been entitled to receive if the Series A Preferred Units had been converted into Common Units immediately prior to such Record Date or effective date, as the case may be, (2) in respect of clauses (v) through (viii) above, in the reasonable discretion of the Board of Directors to appropriately ensure that the Series A Preferred Units are convertible into an economically equivalent number of Common Units after taking into account the event described in clauses (v) through (viii) above, and (3) in addition to the foregoing, in the case of a merger, consolidation or business combination in which the Partnership is the surviving Person, the Partnership shall provide effective provisions to ensure that the provisions in this Section 5.8 relating to the Series A Preferred Units shall not be abridged or amended and that the Series A Preferred Units shall thereafter retain the same powers, economic rights, preferences and

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relative participating, optional and other special rights, and the qualifications, limitations and restrictions thereon, that the Series A Preferred Units had immediately prior to such transaction or event, and, solely for purposes of Section 5.8(b)(vi)(B)(1), the Series A Issue Price, and any other terms of the Series A Preferred Units that the Board of Directors, in its reasonable discretion, determines require adjustment to achieve the economic equivalence described below, shall be proportionately adjusted to take into account any such subdivision, split, combination or reclassification. An adjustment made pursuant to this Section 5.8(b)(vi)(E) shall become effective immediately after the Record Date in the case of a distribution and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification (including any reclassification in connection with a merger, consolidation or business combination in which the Partnership is the surviving Person) or split. Such adjustment shall be made successively whenever any event described above shall occur.

(F) No Adjustments for Certain Items. Notwithstanding any of the other provisions of this Section 5.8(b)(vi), no adjustment shall be made to the Series A Conversion Rate or the Series A Issue Price pursuant to Section 5.8(b)(vi)(E) as a result of any of the following:

(1) Any issuance of Partnership Interests in exchange for cash;

(2) Any grant of Common Units or options, warrants or rights to purchase or receive Common Units or the issuance of Common Units upon the exercise or vesting of any such options, warrants or rights in respect of services provided to or for the benefit of the Partnership or its Subsidiaries, under compensation plans and agreements approved by the Board of Directors (including any long-term incentive plan);

(3) Any issuance of Common Units as all or part of the consideration to effect (i) the closing of any acquisition by the Partnership of assets or equity interests of a third party in an arm’s-length transaction, (ii) closing of any acquisition by the Partnership of assets or equity interests of NEE or any of its Affiliates or (iii) the consummation of a merger, consolidation or other business combination of the Partnership with another entity in which the Partnership survives and the Common Units remain Outstanding to the extent any such transaction set forth in clause (i), (ii) or (iii) above is validly approved by the Board of Directors; or

(4) The issuance of Common Units upon conversion of the Series A Preferred Units or Series A Parity Securities.

Notwithstanding anything in this Agreement to the contrary, whenever the issuance of a Partnership Interest or other event would require an adjustment to the Series A Conversion Rate under one or more provisions of this Agreement, only one adjustment shall be made to the Series A Conversion Rate in respect of such issuance or event.

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Notwithstanding anything to the contrary in Section 5.8(b)(vi)(E), unless otherwise determined by the Board of Directors, no adjustment to the Series A Conversion Rate or the Series A Issue Price shall be made with respect to any distribution or other transaction described in Section 5.8(b)(vi)(E) if the Series A Preferred Unitholders are entitled to participate in such distribution or transaction as if they held a number of Common Units issuable upon conversion of the Series A Preferred Units immediately prior to such event at the then applicable Series A Conversion Rate, without having to convert their Series A Preferred Units.

(vii) Series A Change of Control.

(A) Subject to Section 5.8(b)(vi)(B), in the event of a Series A Cash COC Event, the Outstanding Series A Preferred Units shall be automatically converted, without requirement of any action of the Series A Preferred Unitholders, into Common Units immediately prior to the closing of the applicable Series A Change of Control at the Series A COC Conversion Rate.

(B) Subject to Section 5.8(b)(vi)(B), at least 10 Business Days prior to consummating a Series A Change of Control (other than a Series A Cash COC Event), the Partnership shall provide written notice thereof to the Series A Preferred Unitholders, which notice requirement the Partnership may satisfy with respect to any or all Series A Purchase Agreement Purchasers (and any Affiliates thereof) by sending such notice solely to the BlackRock Purchaser (on behalf of itself and as representative of the other Series A Purchase Agreement Purchasers and any of its and their Affiliates) to the BlackRock Purchaser Notice Address. Subject to Section 5.8(b)(vi)(B), if a Series A Change of Control (other than a Series A Cash COC Event) occurs, then each Series A Preferred Unitholder, with respect to all but not less than all of its Series A Preferred Units, by notice given to the Partnership within five (5) Business Days after the date the Partnership provides written notice of the execution of definitive agreements that provide for such Series A Change of Control, shall be entitled to elect one of the following (with the understanding that any Series A Preferred Unitholder who fails to timely provide notice of its election to the Partnership shall be deemed to have elected the option set forth in sub-clause (1) below). Notice of an election under this Section 5.8(b)(vii)(B) shall be considered given to the Partnership when such notice is actually received by the Partnership at both of the following physical addresses (or such other address or addresses as the Partnership may designate in writing to the BlackRock Purchaser from time to time):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Treasurer

and

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Daniel Lotano

857826.02-WILSR01A - MSW

With a copy to (which shall not constitute notice):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Mark Patten

Email: Mark.Patten@nexteraenergy.com

Notwithstanding anything else to the contrary herein, the BlackRock Purchaser shall notify the Partnership of the election made by the Series A Purchase Agreement Purchasers (on behalf of itself and as representative of the other Series A Purchase Agreement Purchasers and its and their Affiliates), all Series A Purchase Agreement Purchasers (and any of their Affiliates) may provide notice of an election under this Section only through such a notice by the BlackRock Purchaser on their behalf and shall be deemed to have made such election as indicated to the Partnership by the BlackRock Purchaser, and the BlackRock Purchaser may not transfer any of the rights or obligations to give or receive notices hereunder (on behalf of itself and/or any Series A Purchase Agreement Purchaser or any of its or their Affiliates) without the express written consent of the Partnership. Following such time as the BlackRock Purchaser ceases to own Series A Preferred Units, the BlackRock Purchaser may continue to give or receive notices pursuant to the foregoing on behalf of any other Series A Purchase Agreement Purchaser or any of its Affiliates who are required to provide notice through the BlackRock Purchaser under this Section 5.8(b)(vii)(B).

(1) Convert all, but not less than all, of such Series A Preferred Unitholder’s Outstanding Series A Preferred Units into Common Units, at the then-applicable Series A Conversion Rate;

(2) If the Partnership will not be the surviving entity of such Series A Change of Control or the Partnership will be the surviving entity but its Common Units will cease to be listed or admitted to trading on a National Securities Exchange, require the Partnership to use its commercially reasonable efforts to deliver or to cause to be delivered to the Series A Preferred Unitholders, in exchange for their Series A Preferred Units upon such Series A Change of Control, a security in the surviving entity or the parent of the surviving entity that has substantially similar rights, preferences and privileges as the Series A Preferred Units, including, for the avoidance of doubt, the right to distributions equal in amount and timing to those provided in Section 5.8(b)(i) and a conversion rate proportionately adjusted such that the conversion of such security in the surviving entity or parent of the surviving entity immediately following the Series A Change of Control would entitle the Record Holder to the number of common securities of such entity (together with a number of common securities of equivalent value to any other assets received by holders of Common Units in such Series A Change of Control) which, if a Series A Preferred Unit had been converted into Common Units immediately prior to such Series A Change of Control, such Record Holder would have been entitled to receive immediately following such Series A Change of Control (such security in the surviving entity,

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a “Series A Substantially Equivalent Unit”); provided, however, that, if the Partnership is unable to deliver or cause to be delivered Series A Substantially Equivalent Units to any Series A Preferred Unitholder in connection with such Series A Change of Control, each Series A Preferred Unitholder shall be entitled to (I) require conversion or redemption of such Series A Preferred Units in the manner contemplated by subclause (1) or (4) of this Section 5.8(b)(vii)(B) (at such holder’s election) or (II) convert the Series A Preferred Units held by such Series A Preferred Unitholder immediately prior to such Series A Change of Control into a number of Common Units at a conversion ratio equal to the quotient of: (a) the product of (i) one hundred sixty percent (160%) multiplied by (ii) the Series A Issue Price less the Series A Preferred Unitholder’s Pro Rata portion of the sum of (A) all cash distributions paid on all Series A Preferred Units on or prior to the date of the Series A Change of Control and (B) an amount in cash equal to the aggregate of the Series A Quarterly Distributions paid in Series A PIK Units (based on the value of such Series A PIK Units on the applicable Series A PIK Payment Date) on or before the date of the Series A Change of Control, divided by (b) an amount equal to ninety-five percent (95%) of the Average VWAP for the thirty (30) Trading Day period prior to the closing of the Series A Change of Control; provided, however, that such ratio shall in no event exceed a value per Series A Preferred Unit equal to (aa) one hundred twenty percent (120%) of the Series A Issue Price in the case of a Series A Change of Control occurring prior to the first anniversary of the Series A Initial Issuance Date, (bb) one hundred thirty percent (130%) of the Series A Issue Price in the case of a Series A Change of Control occurring on or after the first anniversary of the Series A Initial Issuance Date, but prior to the second (2^nd) anniversary of the Series A Initial Issuance Date, and (cc) one hundred forty percent (140%) of the Series A Issue Price in the case of a Series A Change of Control occurring on or after the second (2^nd) anniversary of the Series A Initial Issuance Date, but prior to the third (3^rd) anniversary of the Series A Initial Issuance Date.

(3) If the Partnership is the surviving entity of such Series A Change of Control, continue to hold Series A Preferred Units; or

(4) Require the Partnership to redeem the Series A Preferred Units at a price per Series A Preferred Unit equal to the sum of (A) the product of one hundred one percent (101%) and the sum of (x) the Series A Issue Price plus (y) Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (B) Series A Partial Period Distributions on the applicable Series A Preferred Unit. Any redemption pursuant to this sub-clause (4) shall, as determined by the Board of Directors, in its sole discretion, be paid in cash, Common Units listed or admitted to trading on a National Securities Exchange or any combination thereof. If all or any portion of such redemption is to be paid in Common Units, the Common Units to be issued shall be valued at ninety-five percent (95%) of the Average VWAP for the thirty (30) Trading Day period ending on the fifth (5^th) Trading Day immediately prior to the Series A Change of Control. No later than three (3) Trading Days prior to the consummation of the related Series A Change of Control, the Partnership shall deliver a written notice

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to the Record Holders of the Series A Preferred Units stating the date on which the Series A Preferred Units will be redeemed and the Partnership’s computation of the amount of cash or Common Units to be received by the Record Holder upon redemption of such Series A Preferred Units. If the Partnership shall be the surviving entity of the related Series A Change of Control, then no later than ten (10) Business Days following the consummation of such Series A Change of Control, the Partnership shall remit the applicable cash or Common Unit listed or admitted to trading on a National Securities Exchange consideration to the Record Holders of then Outstanding Series A Preferred Units. If the Partnership shall not be the surviving entity of the related Series A Change of Control, then the Partnership shall remit the applicable cash immediately prior to the consummation of the Series A Change of Control. The Record Holders shall deliver to the Partnership any Certificates representing the Series A Preferred Units as soon as practicable following the redemption. Record Holders of the Series A Preferred Units shall retain all of the rights and privileges thereof unless and until the consideration due to them as a result of such redemption shall be paid in full in cash or Common Units, as applicable. After any such redemption, any such redeemed Series A Preferred Unit shall no longer constitute an issued and Outstanding Limited Partner Interest.

(viii) Series A Preferred Unit Transfer Restrictions.

(A) Notwithstanding any other provision of this Section 5.8(b)(viii) (other than the restriction on transfers to a Person that is not a U.S. resident individual or an entity that is not treated as a U.S. corporation or partnership set forth in Section 5.8(b)(viii)(B)), subject to Section 4.7, each Series A Preferred Unitholder shall be permitted to transfer any Series A Preferred Units owned by such Series A Preferred Unitholder to any of its Affiliates or to any other Series A Preferred Unitholder .

(B) Without the prior written consent of the Partnership, except as specifically provided in the Series A Purchase Agreement or this Agreement, each Series A Purchase Agreement Purchaser (and its Affiliates to which Series A Preferred Units are transferred pursuant to Section 5.8(b)(viii)(A)) shall not, (a) during the period commencing on the date of the Series A Purchase Agreement and ending on the first anniversary of the latest date on which any Series A Preferred Units are purchased thereunder (for the avoidance of doubt, for purposes of the foregoing, excluding any Series A PIK Units), offer, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any of its Series A Preferred Units or any rights with respect to such Units, (b) during the period commencing on the date of the Series A Purchase Agreement and ending on the second (2^nd) anniversary of the latest date on which any Series A Preferred Units are purchased thereunder (for the avoidance of doubt, for purposes of the foregoing, excluding any Series A PIK Units), directly or indirectly engage in any short sales or other derivative or hedging transactions with respect to the Series A Preferred Units or Common Units that are designed to, or that might reasonably be expected to, result in the transfer to another, in whole or in part, of any of the economic consequences of ownership of any Series A

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Preferred Units or any rights with respect to such Units, (c) transfer any Series A Preferred Units to any non-U.S. resident individual, non-U.S. corporation or partnership, or any other non-U.S. entity, including any foreign governmental entity, including by means of any swap or other transaction or arrangement that transfers or that is designed to, or that might reasonably be expected to, result in the transfer to another, in whole or in part, of any of the economic consequences of ownership of any Series A Preferred Units or any rights with respect to such Units, regardless of whether any transaction described above is to be settled by delivery of Series A Preferred Units, Common Units or other securities, in cash or otherwise, (provided, however, that the foregoing shall not apply if, prior to any such transfer or arrangement, such individual, corporation, partnership or other entity establishes to the satisfaction of the Partnership, its entitlement to a complete exemption from tax withholding, including under Code Sections 1441, 1442, 1445 and 1471 through 1474, and the Treasury Regulations thereunder), or (d) effect any transfer of Series A Preferred Units or Series A Conversion Units or any rights with respect to such Units in a manner that violates the terms of this Agreement; provided, however, that such Series A Preferred Unitholder may make a bona fide pledge of all or any portion of its Series A Preferred Units in connection with a Permitted Loan, and any foreclosure by any pledgee under such Permitted Loan on any such pledged Series A Preferred Units or related Series A Conversion Units (or any sale thereof) shall not be considered a violation or breach of this Section 5.8(b)(viii)(B), and the transfer of the Series A Preferred Units by a pledgee who has foreclosed on such a Permitted Loan shall not be considered a violation or breach of this Section 5.8(b)(viii)(B). Notwithstanding the foregoing, any transferee receiving any Series A Preferred Units pursuant to any part of this Section 5.8(b)(viii) shall agree to the restrictions set forth in this Section 5.8(b)(viii)(B) and Section 5.8(b)(iii)(C) and, to the extent still applicable take all actions necessary to become a party to any confidentiality agreement between the transferor of such Series A Preferred Units and the Partnership. For the avoidance of doubt, in no way does this Section 5.8(b)(viii)(B) prohibit changes in the composition of any Series A Preferred Unitholder or its partners or members so long as such changes in composition only relate to changes in direct or indirect ownership of such Series A Preferred Unitholder among such Series A Preferred Unitholder or its partners or members, so long as such changes in composition only relate to changes in direct or indirect ownership of the Series A Preferred Unitholder among such Series A Unitholder, its Affiliates and the limited partners of the private equity fund vehicles that indirectly own such Series A Preferred Unitholder.

(C) Subject to Section 4.7, following the first anniversary of the latest date on which any Series A Preferred Units are purchased under the Series A Purchase Agreement (for the avoidance of doubt, for purposes of the foregoing, excluding any Series A PIK Units), the Series A Preferred Unitholders may freely transfer Series A Preferred Units involving an underlying value of Common Units of at least $50 million (taking into account any concurrent transfers by Affiliates of such Series A Preferred Unitholder) based on the Closing Price of Common Units on the Trading Day immediately preceding the date of such transfer (or such lesser amount if it (i) constitutes the remaining holdings of Series A Preferred Units of such Series A Preferred Unitholder or (ii) has been approved by the Board of Directors), subject to compliance with applicable securities laws and this Agreement; provided, however, that

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this Section 5.8(b)(viii)(C) shall not eliminate, modify or reduce the obligations set forth in subclauses (b), (c) or (d) of Section 5.8(b)(viii)(B).

(ix) Notices. For the avoidance of doubt, the Partnership shall distribute to the Record Holders of Series A Preferred Units copies of all notices, materials, annual and quarterly reports, proxy statements, information statements and any other documents distributed generally to the Record Holders of Common Units of the Partnership, at such times and by such method as such documents are distributed to such Record Holders of such Common Units.

(x) OpCo Preferred Unit Terms. Without the consent of the holders of the Series A Required Voting Percentage, the Partnership shall not (i) amend the terms of the OpCo Preferred Units in a manner that is adverse to and inconsistent with the terms of the Series A Preferred Units, (ii) amend Section 5.11(b)(iii)(B) of the OpCo Partnership Agreement, (iii) transfer any OpCo Preferred Units or (iv) provide any consent of the OpCo Preferred Units required under the first paragraph of Section 5.11(b)(iv) of the OpCo Partnership Agreement.

Section 5.9 Non-Voting Common Units.

(a) General. The class of Units designated as “Non-Voting Common Units” shall have the designations, preferences and relative, participating, optional or other special rights, powers and duties of Non-Voting Common Units as set forth in this Section 5.9 and elsewhere in this Agreement.

(b) Rights of Non-Voting Common Units. The Non-Voting Common Units shall have the following rights, preferences and privileges and the holders of Non-Voting Common Units shall be subject to the following duties and obligations:

(i) Distributions.

(A) Commencing with the Quarter that includes the date on which Non-Voting Common Units are issued by the Partnership in accordance with the applicable Qualified Agreement, the Record Holders of the Non-Voting Common Units as of the applicable Record Date for each Quarter shall be entitled to receive, in respect of each outstanding Non-Voting Common Unit, their Pro Rata portion of the distributions made with respect to such Quarter to the holders of Common Units (including Non-Voting Common Units) pursuant to and in accordance with Section 6.1.

(B) If a Non-Voting Common Unit is converted into a Common Unit pursuant to the terms hereof following a Record Date for a distribution but prior to the payment date of such distribution pursuant to Section 6.1, then the Record Holder of such Non-Voting Common Unit as of such Record Date shall nonetheless remain entitled to receive, on the payment date thereof, such distribution in respect of such Non-Voting Common Unit pursuant to Section 5.9(b)(i)(A) but shall not be entitled to receive any distribution in respect of the Common Units into which such Non-Voting Common Unit was converted on the payment date of such distribution. For the avoidance of doubt, with respect to a distribution to be made to Record Holders as of any

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Record Date following such conversion, the Record Holder as of such Record Date of the Common Unit into which such Non-Voting Common Unit was converted shall be entitled to receive such distribution in respect of such converted Common Unit on the payment date thereof pursuant to and in accordance with Section 6.1.

(ii) Issuance of the Non-Voting Common Units. The Non-Voting Common Units shall be issued by the Partnership from time to time pursuant to, and in accordance with, the terms and conditions of the applicable Qualified Agreement.

(iii) Voting Rights. Except as provided pursuant to Section 13.3 and Section 14.3, the Outstanding Non-Voting Common Units shall have no voting rights on any matter whatsoever under this Agreement, the Delaware Act or otherwise. To the extent Record Holders of Non-Voting Common Units vote pursuant to Section 13.3 or Section 14.3, each Outstanding Non-Voting Common Unit will be entitled to one vote on any matter with respect to which the Record Holders of Non-Voting Common Units are entitled to vote thereunder.

(iv) Legends. Each certificate or book entry evidencing a Non-Voting Common Unit shall bear a conspicuous legend in substantially the form set forth in Exhibit D of this Agreement.

(v) Conversion.

(A) Automatic Conversion. Subject to the provisions of this Section 5.9(b)(v), each Non-Voting Common Unit held by a Record Holder that is a Qualified Holder shall automatically convert into one (1) Common Unit (or such number as adjusted pursuant to Section 5.9(b)(v)(E)) immediately upon its transfer by such Qualified Holder to any Person that is not an Affiliate (as that term is defined in the applicable Qualified Agreement) of such Qualified Holder. At least one (1) Business Day before the closing of any transfer that results in an automatic conversion pursuant to this Section 5.9(b)(v)(A), the Converting Holder shall deliver written notice of such transfer (an “Automatic Conversion Notice”) to the Partnership at the addresses listed in Section 5.9(b)(v)(C). For purposes of this Section 5.9(b)(v)(A), a pledge (including any pledge where the relevant lender or its custodian becomes the Record Holder, so long as the applicable Qualified Holder retains beneficial ownership), grant of security interest, or other encumbrance of any Non-Voting Common Units by a Record Holder that is a Qualified Holder shall not be considered a “transfer” hereunder.

(B) Optional Conversion.

(1) Upon delivery of an Optional Conversion Notice to the Partnership in accordance with Section 5.9(b)(v)(C), each Maximum Percentage Converting Holder shall have the right, but not the obligation, to convert all or any portion of the Non-Voting Common Units held by it into one (1) Common Unit for each Non-Voting Common Unit being converted. Notwithstanding anything to the contrary herein, no such Maximum Percentage Converting Holder shall have the right to convert any Non-Voting Common Units

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to the extent that, after giving effect to the conversion set forth on the applicable Optional Conversion Notice, such Maximum Percentage Converting Holder (together with such Maximum Percentage Converting Holder’s Affiliates and any other Persons acting as a group with such Maximum Percentage Converting Holder or any of such Maximum Percentage Converting Holder’s Affiliates (such Persons, “Attribution Parties”)) would beneficially own in excess of 19.8% of the number of Common Units outstanding immediately after giving effect to such conversion (the “Maximum Percentage”). In the event that the issuance of Common Units to a Maximum Percentage Converting Holder upon exercise of this option to convert results in such Maximum Percentage Converting Holder’s and the other Attribution Parties’ being deemed to beneficially own, in the aggregate, more than the Maximum Percentage, (aa) the number of Common Units so issued by which such Maximum Percentage Converting Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Units”) shall be deemed null and void ab initio, (bb) such Maximum Percentage Converting Holder shall not have the power to vote or to transfer the Excess Shares, and (cc) the conversion of such Excess Units from Non-Voting Common Units to Common Units shall be deemed null and void ab initio and such Maximum Percentage Converting Holder shall be deemed to have retained the number of Non-Voting Common Units equal to the amount of such Excess Units as if, in all respects, such conversion had not occurred. For purposes of this Section 5.9(b)(v)(B)(1), beneficial ownership and the beneficial ownership percentage shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, including taking into account any other securities held by the applicable Maximum Percentage Converting Holder or any of the Attribution Parties that are convertible into Common Units, as applicable.

(2) Each 61-Day Converting Holder shall have the right, but not the obligation, to convert all or any portion of the Non-Voting Common Units held by it into one (1) Common Unit for each Non-Voting Common Unit being converted, upon delivery of an Optional Conversion Notice to the Partnership in accordance with Section 5.9(b)(v)(C), by specifying the number of Non-Voting Common Units to be converted and, on the date that is sixty-one (61) days following delivery of such Optional Conversion Notice, the number of Non-Voting Common Units specified in such Optional Conversion Notice shall automatically be converted into an equal number of Common Units.

(3) For the avoidance of doubt, each Qualified Holder shall be entitled to (and limited to) a single conversion right under this Section 5.9(b)(v)(B) in each Quarter. Immediately upon the issuance of Common Units as a result of any conversion of Non-Voting Common Units, all rights of the Converting Holder with respect to such Non-Voting Common Units so converted shall cease, subject to Section 5.9(b)(i)(B), and such Converting Holder thereafter shall be treated for all purposes as the owner of the Common Units issuable upon such conversion.

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(C) Conversion Notice. To convert Non-Voting Common Units into Common Units pursuant to Section 5.9(b)(v)(B)(1) or Section 5.9(b)(v)(B)(2), a Qualified Holder (or other Converting Holder) holding Non-Voting Common Units shall give written notice (a “Optional Conversion Notice”) to the Partnership stating that such Converting Holder elects to convert all or a portion of its Non-Voting Common Units into Common Units pursuant to, and subject to the terms of, Section 5.9(b)(v)(B)(1) or Section 5.9(b)(v)(B)(2), as applicable. The Common Units issuable upon conversion shall be issued in the name of the Converting Holder or to a transferee specified in such Optional Conversion Notice. An Optional Conversion Notice shall be considered given under this Section 5.9(b)(v) when such notice is actually received by the Partnership at both of the following physical addresses (or such other address or addresses as the Partnership may designate in writing to the holders of Non-Voting Common Units from time to time):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Treasurer

and

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Daniel Lotano

With a copy to (which shall not constitute notice):

NextEra Energy Partners, LP

700 Universe Boulevard,

Juno Beach, Florida 33408

Attention: Jessica L. Aldridge

Email: Jessica.Aldridge@nexteraenergy.com

(D) Timing. If an Automatic Conversion Notice or an Optional Conversion Notice is delivered by a Converting Holder or Qualified Holder, as applicable, to the Partnership, each in accordance with this Section 5.9(b)(v), the Partnership shall issue the applicable Common Units no later than two (2) Business Days after the date on which such Automatic Conversion Notice or Optional Conversion Notice is actually received by the Partnership (the “Conversion Date”). On the Conversion Date, the Partnership shall instruct, and shall use its commercially reasonable efforts to cause, its Transfer Agent to electronically transmit the Common Units issued upon such conversion to the applicable Converting Holder or its specified transferee. The Converting Holder and the Partnership agree to use commercially reasonable efforts to coordinate with the Transfer Agent to accomplish this objective. Subject to Section 5.9(b)(i)(B), upon issuance of Common Units to a Converting Holder (or its specified transferee), all rights under the converted Non-Voting Common Units shall cease, and such holder shall be treated for all purposes as the Record Holder of such Common Units.

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(E) Distributions, Combinations, Subdivisions and Reclassifications by the Partnership. If, at any time from and after the beginning of any period specified in a Qualified Agreement for the determination of the number of Non-Voting Common Units to be issued by the Partnership in connection with a Qualified Call Option, the Partnership (i) makes a distribution on its Common Units payable in Common Units or other Partnership Interests, (ii) subdivides or splits its outstanding Common Units into a greater number of Common Units, (iii) combines or reclassifies its Common Units into a lesser number of Common Units, (iv) issues Pro Rata to all holders of Common Units, by reclassification of its Common Units, any Partnership Interests (including any reclassification in connection with a merger, consolidation or business combination in which the Partnership is the surviving Person), (v) effects a Pro Rata repurchase of Common Units, (vi) issues Pro Rata to all holders of Common Units, in their capacity as holders of Common Units, rights, options or warrants entitling them to subscribe for or purchase Common Units, (vii) distributes Pro Rata to all holders of Common Units evidences of indebtedness, Partnership Interests (other than Common Units), or other assets (including securities, but excluding any distribution referred to in clause (i), any rights or warrants referred to in clause (ii), any consideration payable in connection with a tender or exchange offer made by the Partnership or any of its subsidiaries, and any distribution of Units or any class or series, or similar Partnership Interest, of or relating to a subsidiary or other business unit in the case of certain spin-off transactions described below), or (viii) consummates a spin-off, pursuant to which the Partnership makes a distribution Pro Rata to all holders of Common Units consisting of Units of any class or series, or similar equity interests of, or relating to, a subsidiary or other business unit, then, (1) in respect of clauses (i) through (iv) above, the Non-Voting Common Units then Outstanding at the time of the Record Date for such distribution or the effective date of any such other transaction shall be proportionately adjusted so that the holder of such Non-Voting Common Units shall be entitled to receive an aggregate number of Non-Voting Common Units (or any Partnership Interests other than Common Units into which such Common Units would have been combined, consolidated, merged or reclassified, as applicable) equal to the number of Common Units that such holder would have been entitled to receive if the Non-Voting Common Units had been converted into Common Units immediately prior to such Record Date or effective date, as the case may be, (2) in respect of clauses (v) through (viii) above, in the reasonable discretion of the Board of Directors, the holders of Non-Voting Common Units shall have the right to participate in such repurchases, issuances, or distributions, and exercise rights with respect to such issuances, as applicable, on the same basis as they would have if such Non-Voting Common Units had been converted into Common Units immediately prior to the Record Date or effective date, as applicable, thereof, and (3) in addition to the foregoing, in the case of a merger, consolidation or business combination in which the Partnership is the surviving Person, the Partnership shall provide effective provisions to ensure that the provisions in this Section 5.9 relating to the Non-Voting Common Units shall not be abridged or amended and that the Non-Voting Common Units shall thereafter retain the same powers, economic rights, preferences and relative participating, optional and other special rights, and the qualifications, limitations and restrictions thereon, as the Non-Voting Common Units had immediately prior to such transaction or event, and any other terms of the Non-Voting Common Units that the Board of Directors, in its

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reasonable discretion, determines require adjustment to achieve the economic equivalence described above shall be proportionately adjusted to take into account any such subdivision, split, combination or reclassification. An adjustment made pursuant to this Section 5.9(b)(v)(E) shall become effective immediately after the Record Date in the case of a distribution and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification (including any reclassification in connection with a merger, consolidation or business combination in which the Partnership is the surviving Person) or split. Such adjustment shall be made successively whenever any event described above shall occur. For the avoidance of doubt and without limiting the foregoing, it is intended that a Non-Voting Common Unit shall be economically equivalent to a Common Unit and that the Board of Directors will take any action that it determines is reasonably necessary to preserve such intent.

(F) No Adjustments for Certain Items. Notwithstanding any of the other provisions of this Section 5.9(b)(v), no adjustment shall be made to the Non-Voting Common Units pursuant to Section 5.9(b)(v)(E) as a result of any of the following:

(1) Any issuance of Partnership Interests in exchange for cash;

(3) Any issuance of Common Units as all or part of the consideration to effect (i) the closing of any acquisition by the Partnership of assets or equity interests of a third party in an arm’s-length transaction, (ii) closing of any acquisition by the Partnership of assets or equity interests of NEE or any of its Affiliates, or (iii) the consummation of a merger, consolidation or other business combination of the Partnership with another entity in which the Partnership survives and the Common Units remain Outstanding to the extent any such transaction set forth in clause (i), (ii) or (iii) above is validly approved by the Board of Directors; or

(4) The issuance of Common Units upon conversion of Non-Voting Common Units.

Notwithstanding anything in this Agreement to the contrary, whenever the issuance of a Partnership Interest or other event would require an adjustment to the Non-Voting Common Units under one or more provisions of this Agreement, only one adjustment shall be made to the Non-Voting Common Units in respect of such issuance or event to the extent that applying more than one adjustment would not preserve the economic equivalence between a Common Unit and a Non-Voting Common Unit.

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(G) Notwithstanding anything to the contrary in Section 5.9(b)(v)(E), unless otherwise determined by the Board of Directors, no adjustment to the Non-Voting Common Units shall be made with respect to any distribution or other transaction described in Section 5.9(b)(v)(E) if the holders of Non-Voting Common Units are entitled to participate in such distribution or transaction as if they held a number of Common Units issuable upon conversion of the Non-Voting Common Units immediately prior to such event without having to convert their Non-Voting Common Units.

(H) Notwithstanding anything to the contrary in this Agreement, in the case of a merger, consolidation, or business combination in which the Common Units are converted into or exchanged for cash or other consideration (including securities), the Board of Directors will take all actions reasonably necessary to ensure that the Non-Voting Common Units will be converted into or exchanged for the cash or other consideration that a holder of Non-Voting Common Units would have been entitled to receive if the Non-Voting Common Units had been converted into Common Units immediately prior to the effectiveness of such merger, consolidation, or business combination.

(c) Transfer Assistance. In the event of a transfer of Non-Voting Common Units to any Person, the Partnership will use commercially reasonable efforts to facilitate the conversion of such Non-Voting Common Units in connection with such transfer, including coordinating with the Transfer Agent to facilitate such transfer and to record the transfer and conversion of such Non-Voting Common Units in a manner that permits the sale of the Non-Voting Common Units in market transactions. For the avoidance of doubt, a holder of Non-Voting Common Units may pledge any Non-Voting Common Units in connection with a bona fide loan or other extension of credit entered into by such holder.

ARTICLE VI

DISTRIBUTIONS

Section 6.1 Distributions to Record Holders.

(a) Subject to Section 5.8(b)(i), within forty-five (45) days following the end of each Quarter, an amount equal to one hundred percent (100%) of Available Cash with respect to such Quarter shall be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board of Directors. All distributions required to be made under this Agreement shall be made subject to Sections 17-607 and 17-804 of the Delaware Act.

(b) The Partnership will first distribute the aggregate Series A Distribution Amount (excluding any portion paid in Series A PIK Units) and then will distribute the remaining Available Cash to all Common Unitholders (including, for the avoidance of doubt, all holders of Non-Voting Common Units in accordance with Section 5.9(b)(i)), Pro Rata.

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(c) Notwithstanding Section 6.1(a), in the event of the dissolution and liquidation of the Partnership, all cash received during or after the Quarter in which the Liquidation Date occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4.

(d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

ARTICLE VII

MANAGEMENT AND OPERATION OF BUSINESS

Section 7.1 Management by Board of Directors.

(a) Establishment of Board of Directors. Effective as of the date of this Agreement, there is hereby established a committee (the “Board” or the “Board of Directors”) composed of seven (7) natural persons (the “Directors”) having the authority and duties set forth in this Agreement.

(i) The initial Directors of the Partnership as of the date of this Agreement are the following individuals: James L. Robo (Chairman), Susan Davenport Austin, Mark E. Hickson, John W. Ketchum, Peter H. Kind, Armando Pimentel, Jr. and James N. Suciu. Each of the foregoing initial Directors shall serve a term commencing on the date of this Agreement and expiring at 11:59:59 p.m. on December 31, 2017 (or such Director’s earlier resignation, retirement, removal from office or death), or such later date as the LP Elected Directors shall have been duly elected and qualified.

(ii) Each Director shall be entitled to one vote on all matters to be decided by the Board. Any decision to be made by the Board shall require the approval of at least four (4) Directors present and voting at any meeting at which a quorum is present; provided, however, that in the event that the number of Directors then serving on the Board of Directors is fewer than four (4) Directors, the act of the majority of the Directors present and voting at a meeting at which a quorum is present shall be the act of the Board of Directors; provided, further, that, if the Board of Directors is unable to make a decision with respect to any matter contemplated by Section 7.1(b)(i), Section 7.1(b)(iii), Section 7.1(b)(iv), Section 7.1(b)(vi) or Section 7.1(b)(xiii), the Manager shall be authorized to take any action with respect to such matter that is consistent with the Operating Plan then in effect. No Director acting alone (except as provided in Section 7.1(e)(iii)) or with any other Director or Directors (except as provided in the immediately preceding sentence) shall have the power to act for or on behalf of, or to bind, the Partnership. The Board of Directors shall constitute a committee within the meaning of Section 17-303(b)(7) of the Delaware Act.

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(b) Management Generally. In order to enable the Board of Directors to manage the business and affairs of the Partnership, the General Partner hereby delegates to the Board of Directors all management powers over the business and affairs of the Partnership that it may now or hereafter possess under applicable law (other than those powers retained by the General Partner, as set forth in Section 1.2, Section 2.4, Section 3.3(c), Section 7.1(d), Section 7.2, Section 7.7(d), Section 7.10, Section 12.4, Section 13.1(b), Section 13.4(b) and Section 14.4, and other than the General Partner’s obligations pursuant to Article IX of this Agreement) as permitted under Section 17-403(c) of the Delaware Act. The General Partner further agrees to take any and all action necessary and appropriate, in the sole discretion of the Board of Directors, to effect any actions duly authorized by the Board of Directors or any officer of the Partnership, including executing or filing any agreements, instruments or certificates, delivering all documents, providing all information and taking or refraining from taking any action as may be necessary or appropriate to achieve all the effective delegation of power described in this Section 7.1. Each of the Partners and each Person who may acquire an interest in a Limited Partner Interest is hereby deemed to have approved, consented to, ratified and confirmed such delegation. The delegation by the General Partner to the Board of Directors of management powers over the business and affairs of the Partnership pursuant to the provisions of this Agreement shall not cause the General Partner to cease to be the general partner of the Partnership, nor shall it cause the Board of Directors or any member thereof to be a general partner of the Partnership or to have or be subject to any liabilities of a general partner of the Partnership that may be applicable. Except as otherwise provided in this Agreement (including pursuant to Section 1.2, Section 2.4, Section 3.3(c), Section 7.1(d), Section 7.2, Section 7.7(d), Section 7.10, Section 12.4, Section 13.1(b), Section 13.4(b), Section 14.4 and Article IX of this Agreement), and except as delegated to the “Manager Group” (as defined in the Management Services Agreement) as set forth in the Management Services Agreement or as otherwise provided therein, the management of the Partnership shall be vested exclusively in the Board of Directors and, subject to the direction of the Board of Directors, the Partnership’s officers and the Board of Directors shall, subject to Section 7.3, have full power and authority to do all things and on such terms as it determines to be necessary or appropriate to conduct the business of the Partnership, to exercise all powers set forth in Section 2.5 and to effectuate the purposes set forth in Section 2.4, including the following:

(i) the making of any expenditures, the lending or borrowing of money, the assumption or guarantee of, or other contracting for, indebtedness and other liabilities, the issuance of evidences of indebtedness, including indebtedness that is convertible into or exchangeable for Partnership Interests (subject to Section 5.8(b)(iv) with respect to Series A Senior Securities and Series A Parity Securities), and the incurring of any other obligations;

(ii) the making of regulatory and other filings (other than tax filings of Group Members, for which the General Partner retains authority pursuant to Article IX), or rendering of periodic or other reports to governmental or other agencies having jurisdiction over the business or assets of the Partnership;

(iii) the acquisition, disposition, mortgage, pledge, encumbrance, hypothecation or exchange of any or all of the assets of the Partnership or the merger or other combination of the Partnership with or into another Person (the matters described in

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this clause (iii) being subject, however, to any prior approval that may be required by Section 7.3 and Article XIV);

(iv) the use of the assets of the Partnership (including cash on hand) for any purpose consistent with the terms of this Agreement, including (A) the financing of the conduct of the operations of the Partnership Group; (B) the Partnership’s annual Operating Plan; (C) subject to Section 7.6(a), the lending of funds to other Persons (including other Group Members); (D) the repayment or guarantee of obligations of any Group Member; and (E) the making of capital contributions to any Group Member;

(v) the negotiation, authorization and performance of any contracts, conveyances or other instruments (including instruments that limit the liability of the Partnership under contractual arrangements to all or particular assets of the Partnership, with the other party to the contract having no recourse against the General Partner or its assets other than its interest in the Partnership, even if the same results in the terms of the transaction are less favorable to the Partnership than would otherwise be the case);

(vi) the distribution of cash held by the Partnership;

(vii) subject to the terms of the Management Services Agreement, the selection and dismissal of employees (including employees having titles such as “president,” “vice president,” “secretary,” and “treasurer”) and agents, internal and outside attorneys, accountants, consultants and contractors, and the determination of their compensation and other terms of employment or hiring;

(ix) approval of any agreement or arrangement (or any termination or amendment thereof) between any Partner or its Affiliate (other than a Group Member), on the one hand, and the Partnership or any other Group Member, on the other hand;

the formation of, or acquisition of an interest in, and the contribution of property and the making of loans to, any further limited or general partnerships, joint ventures, corporations, limited liability companies or other Persons (including the acquisition of interests in, and the contributions of property to, any Group Member from time to time) subject to the restrictions set forth in Section 2.4;

(x) the control of any matters affecting the rights and obligations of the Partnership, including the bringing and defending of actions at law or in equity and otherwise engaging in the conduct of litigation, arbitration or mediation and the incurring of legal expense and the settlement of claims and litigation;

(xi) the indemnification of any Person against liabilities and contingencies to the extent permitted by law;

(xii) the entering into of listing agreements with any National Securities Exchange and the delisting of some or all of the Limited Partner Interests from, or requesting that trading be suspended on, any such exchange (subject to any prior approval that may be required under Section 4.7);

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(xiii) subject to Section 5.8(b)(iv) and Article XIV, the purchase, sale or other acquisition or disposition of Partnership Interests, or the issuance of Derivative Partnership Interests; and

(xiv) the undertaking of any action in connection with the Partnership’s participation in the management of any Group Member, including (A) the Partnership’s authorization and approval, as the sole member of the OpCo General Partner, of any actions on behalf of the Operating Partnership, and (B) authorizing the officers of the OpCo General Partner to act or approve any matter on behalf of the Operating Partnership, including the declaration and payment of distributions by the Operating Partnership.

(c) Neither the General Partner nor any of the Limited Partners in their capacities as such shall have any part in the management of the Partnership (except, with respect to the General Partner, pursuant to Section 1.2, Section 2.4, Section 3.3(c), Section 7.1(d), Section 7.2, Section 7.7(d), Section 7.10, Section 12.4, Section 13.1(b), Section 13.4(b), Section 14.4 and Article IX of this Agreement) and shall have no authority or right to act on behalf of the Partnership or deal with any third parties on behalf of the Partnership in connection with any matter, except as requested or authorized by the Board of Directors.

(d) Number of Directors; Term of Office. The authorized number of Directors shall be seven (7) Directors.

(i) Three (3) Directors shall be appointed by the General Partner, in its sole discretion. A Director appointed by the General Partner may sometimes be referred to herein as an “NEP GP Appointed Director.” Each NEP GP Appointed Director shall hold office for the term of which he is appointed and until his successor shall have been duly appointed and qualified or until his earlier resignation, retirement, removal from office or death. The initial NEP GP Appointed Directors shall take office commencing at 12:00:01 a.m. on January 1, 2018 (or such later date as such NEP GP Appointed Directors shall have been duly appointed and qualified).

(ii) At each annual meeting of Limited Partners commencing with the annual meeting of Limited Partners held in 2017, the Limited Partners shall elect four (4) Directors. A Director elected by the Limited Partners may sometimes be referred to herein as an “LP Elected Director.” Each LP Elected Director shall hold office for a term of one (1) year commencing at 12:00:01 a.m. on January 1 (or such later date as such LP Elected Director shall have been duly elected and qualified) of the next succeeding year and extending through 11:59:59 p.m. on December 31 of such year (or such later date as such LP Elected Director’s successor shall have been duly elected and qualified). Each LP Elected Director shall hold office for the term of which he is elected and until his successor shall have been elected and qualified or until his earlier resignation, retirement, removal from office or death. No person who shall have attained the age of seventy-two (72) years by the date of election shall be eligible for election as an LP Elected Director; provided, however, that the Board of Directors is authorized, in circumstances it deems appropriate and by unanimous approval of all of the Directors then in office (except the LP Elected Director whose qualification is the subject of the

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action), to render an LP Elected Director then in office (the “Affected Director”) eligible for election as an LP Elected Director until either the date of election next following the Affected Director’s seventy-third (73^rd) birthday or the date of election next following the Affected Director’s seventy-fourth (74^th) birthday.

(iii) Candidates for election to the Board of Directors as LP Elected Directors shall be designated by the Partnership’s Chief Executive Officer, subject to the approval of the Board of Directors; provided, however, that, if the Board of Directors fails to approve one or more of the nominees proposed by the Partnership’s Chief Executive Officer, after the Partnership’s Chief Executive Officer shall have had a reasonable opportunity to present to, and discuss with, the Board of Directors his proposed nominees (and any alternative candidates), then (A) any such nominee shall nevertheless be included in the proxy statement for the next annual meeting of Limited Partners and (B) the LP Elected Directors, by a majority vote of the LP Elected Directors then in office, shall be entitled to include in the proxy statement for the next annual meeting of Limited Partners a corresponding number of its own nominees for election to the Board of Directors. Notwithstanding the foregoing, Limited Partners shall be entitled to include in the Partnership’s proxy statement nominees for election to the Board of Directors as LP Elected Directors in accordance with Article XV, subject to compliance with the terms thereof.

(iv) Any vacancy occurring in the Board of Directors shall be filled only by a majority vote of the Directors then in office, even if less than a quorum, or by a sole remaining Director, and each Director so chosen shall hold office for a term expiring at 11:59:59 p.m. on December 31 of the year in which the vacancy is filled; provided that, if at any time a vacancy is created on the Board of Directors by reason of the death, removal or resignation of any NEP GP Appointed Director, then only the General Partner shall be entitled (in its sole discretion) to designate a replacement for such Director.

(v) An LP Elected Director may be removed from the Board of Directors (A) by a majority vote of the entire Board of Directors, but only for Cause; or (B) by Limited Partners at a special meeting at which the notice of meeting properly includes the removal of LP Elected Directors for Cause in accordance with Section 13.4; provided that a quorum is present and the required vote of Limited Partners is obtained in accordance with Section 13.9(c). An NEP GP Appointed Director may be removed from the Board of Directors only by the General Partner, with or without Cause.

(e) Meetings of the Board. Regular and special meetings of the Board of Directors shall be held at such times and places (either within or outside the State of Delaware) as may be determined by the Board of Directors. Notice of the time and place of any regular or special meeting of the Board of Directors shall be given to each Director either by personal delivery, e-mail, facsimile, reputable overnight delivery service, telegram, cablegram or by telephone at least two (2) days prior to the meeting. Notice may also be given through the postal service if mailed at least five (5) days prior to the meeting.

(i) Notice of a meeting of the Board of Directors need not be given to any Director who signs a waiver of notice either before or after the meeting. Attendance

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of a Director at a meeting shall constitute a waiver of notice of such meeting and a waiver of any and all objections to the place of the meeting, the time of the meeting or the manner in which it has been called or convened, except when a Director states, at the beginning of the meeting, any objection to the transaction of business because the meeting is not lawfully called or convened.

(ii) Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board of Directors need be specified in the notice or waiver of notice of such meeting.

(iii) Four (4) Directors shall constitute a quorum for the transaction of business; provided, however, that, whenever, for any reason, vacancies occur in the Board of Directors that reduce the number of Directors then serving on the Board of Directors to fewer than four (4) Directors, a quorum shall consist of a majority of the remaining Directors then in office, solely for the purpose of filling such vacancies pursuant to Section 7.1(d)(iv).

(iv) A majority of the Directors present at a meeting of the Board of Directors, whether or not a quorum exists, may adjourn such meeting to another time and place. Notice of any such adjourned meeting shall be given to the Directors who were not present at the time of the adjournment and, unless the time and place of the adjourned meeting are announced at the time of adjournment, to the other Directors.

(v) Meetings of the Board of Directors may be called by the Chairman of the Board of Directors, the Chief Executive Officer of the Partnership or by any three (3) Directors. Regular meetings of committees shall be held on the schedule approved by the Board of Directors. Special meetings of committees may be called by the Chairman of the Board of Directors, the chairman of such committee or any three (3) members of such committee.

(vi) Members of the Board of Directors may participate in a meeting of Directors by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other at the same time. Participation by such means shall constitute presence in person at a meeting.

(vii) Meetings of the Board of Directors shall be presided over by the Chairman of the Board, or if such position is vacant or such person is absent, by the Chief Executive Officer of the Partnership. If neither the Chairman of the Board nor the Chief Executive Officer is present, the Directors shall elect a chairman for the meeting from one of their members present.

(viii) Any action required to be taken at a meeting of the Directors, or any action that may be taken at a meeting of the Directors or a committee thereof, may be taken without a meeting if a consent in writing, setting forth the action so to be taken, signed by such number of Directors as would be required to approve such matter if a meeting of Directors were held, is filed in the minutes of the proceedings of the Board of

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Directors or of the committee. Such consent shall have the same effect as a unanimous vote.

(f) Compensation of the Directors. Directors, as such, shall not receive any stated salary for their services, but shall receive such compensation for their services as may be from time to time agreed upon by the Board of Directors. In addition, a fixed sum and reimbursement for out-of-pocket expenses of attendance, if any, may be allowed for attendance at each regular or special meeting of the Board of Directors; provided that nothing contained in this Agreement shall be construed to preclude any Director (including the Chief Executive Officer) from serving the Partnership or any of its Subsidiaries in any other capacity and receiving compensation for such service.

(g) Chairman of the Board. The Chairman of the Board of Directors shall be the Chief Executive Officer of the Partnership, unless the Board of Directors designates another individual to serve as Chairman of the Board of Directors. At any time, the Chairman of the Board of Directors, if any, may be removed from his position as Chairman by the Board of Directors. The Chairman of the Board of Directors, in his capacity as such, shall not have any of the rights or powers of an officer of the Partnership, unless he, in his capacity as Chairman of the Board of Directors, is appointed as an officer of the Partnership. The Chairman shall preside at all meetings of the Board of Directors and at all meetings of the Partners at which he is present.

(h) Committees of the Board. The Board of Directors may, by resolution, designate from among the Directors one or more committees (which shall include the Audit Committee and the Conflicts Committee), each of which shall be composed of one or more Directors, and may designate one or more of the Directors as alternate members of any committee, who may, subject to any limitations imposed by the Board of Directors, replace absent or disqualified Directors at any meeting of that committee. Any such committee, to the extent provided in such resolution, shall have and may exercise all of the authority of the Board of Directors, subject to the limitations set forth in the Delaware Act, if any, or in the establishment of the committee. Any member of any such committee may be removed from such committee by the Board of Directors. Unless the resolution designating a particular committee or this Agreement expressly so provides, a committee of the Board of Directors shall not have the authority to authorize or make a distribution to the Limited Partners or to authorize the issuance of Limited Partner Interests. Any committee of the Board of Directors shall constitute a committee within the meaning of Section 17-303(b)(7) of the Delaware Act. Notwithstanding anything contained herein to the contrary, the delegation to any committee of the Board of Directors of any management powers over the business and affairs of the Partnership pursuant to the provisions of this Agreement shall not cause the General Partner to cease to be a general partner of the Partnership nor shall it cause such committee of the Board of Directors or any member thereof to be a general partner of the Partnership or to have or be subject to any liabilities of a general partner of the Partnership that may be applicable. The initial members of the Audit Committee as of the date of this Agreement are James N. Suciu (Chairman), Susan Davenport Austin and Peter H. Kind. The initial members of the Conflicts Committee as of the date of this Agreement are Peter H. Kind (Chairman), Susan Davenport Austin and James N. Suciu.

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(i) Officers and Agents. Officers, employees, agents and consultants of the Partnership shall be appointed, retained, terminated and replaced by the Board of Directors, in its sole discretion; provided, however, that, for so long as NextEra Energy Management Partners, LP (or another Affiliate of NEE) serves as Manager under the Management Services Agreement (or any successor agreement), such officers, employees, agents and consultants of the Partnership shall be appointed, retained, terminated and replaced by the Board of Directors, subject to and in accordance with the designations of the Manager pursuant to the Management Services Agreement. Each such officer, employee, agent and consultant shall have the power, acting individually or jointly, to affix the signature of the Partnership to all deeds, conveyances, mortgages, leases, obligations, bonds, certificates and other papers and instruments in writing that have been authorized by the Board of Directors, enter into contracts on behalf of the Partnership and otherwise represent and bind the Partnership in all matters, in each case, in accordance with the scope of their respective duties.

Section 7.2 Certificate of Limited Partnership. The General Partner has caused the Certificate of Limited Partnership to be filed with the Secretary of State of the State of Delaware as required by the Delaware Act. The Board of Directors shall use all reasonable efforts to cause to be filed such other certificates or documents that the Board of Directors determines to be necessary or appropriate for the formation, continuation, qualification and operation of a limited partnership (or a partnership in which the limited partners have limited liability) in the State of Delaware or any other state in which the Partnership may elect to do business or own property. To the extent the General Partner or the Board of Directors determines such action to be necessary or appropriate, the General Partner or the Partnership shall file amendments to and restatements of the Certificate of Limited Partnership and do all things to maintain the Partnership as a limited partnership (or a partnership or other entity in which the limited partners have limited liability) under the laws of the State of Delaware or of any other state in which the Partnership may elect to do business or own property. Subject to the terms of Section 3.3(a), neither the Partnership nor the General Partner shall be required, before or after filing, to deliver or mail a copy of the Certificate of Limited Partnership, any qualification document or any amendment thereto to any Limited Partner.

Section 7.3 Restrictions on the Partnership’s Authority to Sell Assets of the Partnership Group.

Except as provided in Article XII and Article XIV, the Partnership may not sell, exchange or otherwise dispose of all or substantially all of the assets of the Partnership Group, taken as a whole, in a single transaction or a series of related transactions without the consent of the General Partner, which consent may be granted or withheld in its sole discretion, and the approval of (a) at least a majority of the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units and all Units owned by the General Partner and its Affiliates), voting as a separate class, and (b) at least a majority of (i) the Outstanding Special Voting Units and (ii) the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units) owned by the General Partner and its Affiliates, voting together as a single class; provided, however, that this provision shall not preclude or limit the Partnership’s ability to mortgage, pledge, hypothecate or grant a security interest in all or substantially all of the assets of the Partnership Group and shall not apply to any forced sale of

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any or all of the assets of the Partnership Group pursuant to the foreclosure of, or other realization upon, any such encumbrance.

Section 7.4 Reimbursement of the General Partner.

(a) Except as provided in the Management Services Agreement and elsewhere in this Agreement, the General Partner shall not be compensated for its services as a general partner or managing member of any Group Member.

(b) Subject to the Management Services Agreement, and without duplication, the General Partner and its Affiliates shall be reimbursed on a monthly basis, or such other basis as the General Partner may determine, for (i) all direct and indirect expenses it incurs or payments it makes on behalf of the Partnership Group and (ii) all other expenses allocable to the Partnership Group or otherwise incurred by the General Partner or its Affiliates in connection with its service as General Partner of the Partnership (including expenses allocated to the General Partner by its Affiliates). The General Partner shall determine the expenses that are allocable to the Partnership Group. Reimbursements pursuant to this Section 7.4 shall be in addition to any reimbursement to the General Partner as a result of indemnification pursuant to Section 7.7. This provision does not affect the ability of the General Partner and its Affiliates to enter into an agreement to provide services to any Group Member for a fee or otherwise than for cost.

(c) The Board of Directors, without the approval of the Limited Partners (who shall have no right to vote in respect thereof), may propose and adopt on behalf of the Partnership employee benefit plans, employee programs and employee practices (including plans, programs and practices involving the issuance of Partnership Interests or options to purchase or rights, warrants or appreciation rights or phantom or tracking interests relating to Partnership Interests), or cause the Partnership to issue Partnership Interests in connection with, or pursuant to, any employee benefit plan, employee program or employee practice maintained or sponsored by the Partnership or any of its Affiliates in each case for the benefit of officers, employees and directors of the Partnership or any of its Affiliates, in respect of services performed, directly or indirectly, for the benefit of the Partnership Group. The Partnership agrees to issue and sell to any of its Affiliates any Partnership Interests that the Partnership or such Affiliates are obligated to provide to any officers, employees, consultants and directors pursuant to any such employee benefit plans, employee programs or employee practices. Expenses incurred by the General Partner, if any, in connection with any such plans, programs and practices (including the net cost to the General Partner or such Affiliates of Partnership Interests purchased by the General Partner or such Affiliates from the Partnership to fulfill options or awards under such plans, programs and practices) shall be reimbursed in accordance with Section 7.4(b). Any and all obligations of the General Partner under any employee benefit plans, employee programs or employee practices adopted by the General Partner as permitted by this Section 7.4(c) shall constitute obligations of the General Partner hereunder and shall be assumed by any successor General Partner approved pursuant to Section 11.1 or Section 11.2 or the transferee of or successor to all of the General Partner’s General Partner Interest pursuant to Section 4.6.

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Section 7.5 Outside Activities.

(a) The General Partner, for so long as it is the General Partner of the Partnership, (i) agrees that its sole business will be to act as a general partner or managing member, as the case may be, of the Partnership and any other partnership or limited liability company of which the Partnership is, directly or indirectly, a partner or member and to undertake activities that are ancillary or related thereto (including being a Limited Partner in the Partnership) and (ii) shall not engage in any business or activity or incur any debts or liabilities except in connection with or incidental to (A) its performance as general partner or managing member, if any, of one or more Group Members or as described in the Partnership’s public filings with the Commission or (B) the acquiring, owning or disposing of debt securities or equity interests in any Group Member.

(b) Subject to the terms of Section 7.5(c), the Right of First Offer Agreement and the Right of First Refusal Agreement, each Unrestricted Person (other than the General Partner) shall have the right to engage in businesses of every type and description and other activities for profit and to engage in and possess an interest in other business ventures of any and every type or description, whether in businesses engaged in or anticipated to be engaged in by any Group Member, independently or with others, including business interests and activities in direct competition with the business and activities of any Group Member, and none of the same shall constitute a breach of this Agreement or any duty otherwise existing at law, in equity or otherwise, to any Group Member or any Partner; provided such Unrestricted Person does not engage in such business or activity using confidential or proprietary information provided by or on behalf of the Partnership to such Unrestricted Person. None of any Group Member, any Limited Partner or any other Person shall have any rights by virtue of this Agreement, any Group Member Agreement or the partnership relationship established hereby in any business ventures of any Unrestricted Person.

(c) Subject to the terms of Section 7.5(a) and Section 7.5(b), the Right of First Offer Agreement and the Right of First Refusal Agreement, but otherwise notwithstanding anything to the contrary in this Agreement, (i) the engaging in competitive activities by any Unrestricted Person (other than the General Partner) in accordance with the provisions of this Section 7.5 is hereby approved by the Partnership and all Partners, (ii) it shall be deemed not to be a breach of any duty otherwise existing at law, in equity or otherwise, of the General Partner or any other Unrestricted Person for the Unrestricted Persons (other than the General Partner) to engage in such business interests and activities in preference to or to the exclusion of the Partnership and (iii) the Unrestricted Persons shall have no obligation hereunder or as a result of any duty otherwise existing at law, in equity or otherwise, to present business opportunities to the Partnership. Notwithstanding anything to the contrary in this Agreement, the doctrine of corporate opportunity, or any analogous doctrine, shall not apply to any Unrestricted Person (including the General Partner). No Unrestricted Person (including the General Partner) who acquires knowledge of a potential transaction, agreement, arrangement or other matter that may be an opportunity for the Partnership shall have any duty to communicate or offer such opportunity to the Partnership, and such Unrestricted Person (including the General Partner) shall not be liable to the Partnership, to any Limited Partner or any other Person bound by this Agreement for breach of any duty otherwise existing at law, in equity or otherwise, by reason of the fact that such Unrestricted Person (including the General Partner) pursues or acquires for

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itself, directs such opportunity to another Person or does not communicate such opportunity or information to the Partnership, provided such Unrestricted Person does not engage in such business or activity using confidential or proprietary information provided by or on behalf of the Partnership to such Unrestricted Person.

(d) The General Partner and each of its Affiliates may acquire Units or other Partnership Interests and, except as otherwise provided in this Agreement, shall be entitled to exercise, at their option and in their sole discretion, all rights relating to all Units or other Partnership Interests acquired by them. The term “Affiliates” when used in this Section 7.5(d) with respect to the General Partner shall not include any Group Member.

Section 7.6 Loans from the General Partner; Loans or Contributions from the Partnership or Group Members.

(a) The General Partner or any of its Affiliates (other than the Partnership) may, but has no obligation to, lend to any Group Member (including, subject to the consent of the Board of Directors, the Partnership), and any Group Member (including, subject to the consent of the Board of Directors, the Partnership) may borrow from the General Partner or any of its Affiliates (other than the Partnership), funds needed or desired by the Group Member for such periods of time and in such amounts as the General Partner (and, if the Partnership is the borrowing party, the Board of Directors) may determine; provided, however, that in any such case the lending party may charge the borrowing party interest at prevailing rates (including prevailing origination fees) that would be charged or imposed on the borrowing party by unrelated lenders on comparable loans made on an arm’s-length basis (without reference to the lending party’s financial abilities or guarantees), all as determined by the General Partner (and, if the Partnership is the borrowing party, the Board of Directors). The borrowing party shall reimburse the lending party for any costs (other than any additional interest costs) incurred by the lending party in connection with the borrowing of such funds. For purposes of this Section 7.6(a) and Section 7.6(b), the term “Group Member” shall include any Affiliate of a Group Member that is controlled by the Group Member.

(b) The Partnership may lend or contribute to any Group Member, and any Group Member may borrow from the Partnership, funds on terms and conditions determined by the Board of Directors. No Group Member may lend funds to the General Partner or any of its Affiliates (other than another Group Member); provided, however, that Cash Sweep Withdrawals shall not be subject to this Section 7.6(b).

(c) No borrowing by any Group Member or the approval thereof by the Board of Directors shall be deemed to constitute a breach of any duty or any other obligation of any type whatsoever, expressed or implied, of the Board of Directors to the Partnership or the Limited Partners existing hereunder, or existing at law, in equity or otherwise by reason of the fact that the purpose or effect of such borrowing is directly or indirectly to enable distributions to the General Partner or its Affiliates (including in their capacities as Limited Partners) to exceed the General Partner’s or its Affiliates’ Percentage Interest of the total amount distributed to all Limited Partners.

Section 7.7 Indemnification.

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(a) To the fullest extent permitted by law but subject to the limitations expressly provided in this Agreement, all Indemnitees shall be indemnified and held harmless by the Partnership from and against any and all losses, claims, damages, liabilities, joint or several, expenses (including legal fees and expenses), judgments, fines, penalties, interest, settlements or other amounts arising from any and all threatened, pending or completed claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, and whether formal or informal and including appeals, 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 and acting (or omitting or refraining to act) in such capacity on behalf of or for the benefit of the Partnership; provided that the Indemnitee shall not be indemnified and held harmless pursuant to this Agreement 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 Agreement, 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 unlawful; provided, further, that no indemnification pursuant to this Section 7.7 shall be available to any Indemnitee (other than a Group Member or a Director) with respect to any such Affiliate’s obligations pursuant to the Transaction Documents. Any indemnification pursuant to this Section 7.7 shall be made only out of the assets of the Partnership, it being agreed that the General Partner shall not be personally liable for such indemnification and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate such indemnification.

(b) To the fullest extent permitted by law, expenses (including legal fees and expenses) incurred by an Indemnitee who is indemnified pursuant to Section 7.7(a) in defending any claim, demand, action, suit or proceeding shall, from time to time, be advanced by the Partnership prior to 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 7.7, the Indemnitee is not entitled to be indemnified upon receipt by the Partnership of any undertaking by or on behalf of the Indemnitee to repay such amount if it shall be ultimately determined that the Indemnitee is not entitled to be indemnified as authorized by this Section 7.7.

(c) The indemnification provided by this Section 7.7 shall be in addition to any other rights to which an Indemnitee may be entitled under this Agreement, any other agreement, including the Management Services Agreement, pursuant to any vote of the holders of Outstanding Limited Partner Interests, as a matter of law, in equity 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 and shall inure to the benefit of the heirs, successors, assigns and administrators of the Indemnitee.

(d) The Partnership may purchase and maintain (or reimburse the General Partner or its Affiliates for the cost of) insurance, on behalf of the General Partner, its Affiliates and such other Persons as the General Partner shall determine, against any liability that may be asserted against, or expense that may be incurred by, such Person in connection with the Partnership’s activities or such Person’s activities on behalf of the Partnership, regardless of whether the Partnership would have the power to indemnify such Person against such liability under the provisions of this Agreement.

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(e) For purposes of this Section 7.7: (i) the Partnership shall be deemed to have requested an Indemnitee to serve as fiduciary of an employee benefit plan whenever the performance by it of its duties to the Partnership also imposes duties on, or otherwise involves services by, it to the plan or participants or beneficiaries of the plan; (ii) excise taxes assessed on an Indemnitee with respect to an employee benefit plan pursuant to applicable law shall constitute “fines” within the meaning of Section 7.7(a); and (iii) action taken or omitted by it with respect to any employee benefit plan in the performance of its duties for a purpose reasonably believed by it to be in the best interest of the participants and beneficiaries of the plan shall be deemed to be for a purpose that is in the best interests of the Partnership.

(f) In no event may an Indemnitee subject the Limited Partners to personal liability by reason of the indemnification provisions set forth in this Agreement.

(g) An Indemnitee shall not be denied indemnification in whole or in part under this Section 7.7 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.

(h) The provisions of this Section 7.7 are for the benefit of the Indemnitees and their heirs, successors, assigns, executors and administrators and shall not be deemed to create any rights for the benefit of any other Persons.

(i) No amendment, modification or repeal of this Section 7.7 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 Partnership, nor the obligations of the Partnership to indemnify any such Indemnitee under and in accordance with the provisions of this Section 7.7 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.

Section 7.8 Liability of Indemnitees.

(a) Notwithstanding anything to the contrary set forth in this Agreement, no Indemnitee shall be liable for monetary damages to the Partnership, the Limited Partners or any other Persons who have acquired interests in the Partnership Interests 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) Each of the General Partner and the Board of Directors 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 employees or agents, and neither the General Partner nor the Board of Directors shall be responsible for any misconduct or negligence on the part of any such employee or agent appointed in good faith by the General Partner or the Board of Directors.

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(c) To the extent that, at law or in equity, an Indemnitee has duties (including fiduciary duties) and liabilities relating thereto to the Partnership or to the Partners, the General Partner and any other Indemnitee acting in connection with the Partnership’s business or affairs shall not be liable to the Partnership or to any Partner for its good faith reliance on the provisions of this Agreement.

(d) Any amendment, modification or repeal of this Section 7.8 or any provision hereof shall be prospective only and shall not in any way affect the limitations on the liability of the Indemnitees under this Section 7.8 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.

Section 7.9 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties.

(a) Unless otherwise expressly provided in this Agreement or any Group Member Agreement, whenever a potential conflict of interest exists or arises between the General Partner or any of its Affiliates or any Director, on the one hand, and the Partnership, any Group Member or any Partner, on the other, any resolution or course of action by the General Partner or its Affiliates or the Board of Directors in respect of such conflict of interest shall be permitted and deemed approved by all Partners, and shall not constitute a breach of this Agreement, of any Group Member Agreement, of any agreement contemplated herein or therein or of any duty stated or implied by law or equity, if the resolution or course of action in respect of such conflict of interest is (i) approved by Special Approval, (ii) approved by the vote of a majority of the Outstanding Common Units (excluding all Non-Voting Common Units and excluding, if the conflict involves the General partner or any of its Affiliates, Common Units and Special Voting Units owned by the General Partner and its Affiliates, but including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A)), (iii) determined by the Board of Directors to be on terms no less favorable to the Partnership than those generally being provided to or available from unrelated third parties or (iv) determined by the Board of Directors to be fair and reasonable to the Partnership, taking into account the totality of the relationships between the parties involved (including other transactions that may be particularly favorable or advantageous to the Partnership). The Board of Directors shall be authorized but not required in connection with the resolution of such conflict of interest to seek Special Approval or Unitholder approval of such resolution. Notwithstanding the foregoing, the General Partner, for itself and its Affiliates, and the Board of Directors, for any Group Member, may also each adopt a resolution or course of action that has not received Special Approval or Unitholder approval. Unless otherwise expressly provided in this Agreement or any Group Member Agreement, whenever the Board of Directors makes a determination to refer or not to refer any potential conflict of interest to the Conflicts Committee for Special Approval, or whenever the General Partner, for itself and its Affiliates, or the Board of Directors, as applicable, determines to seek or not to seek Unitholder approval, the General Partner or the Board of Directors, as applicable, shall be entitled, to the fullest extent permitted by law, to make such determination or to take or decline to take such other action free of any duty or obligation whatsoever to the Partnership or any Limited Partner, and the General Partner or the Board of Directors, as applicable, shall not, to the fullest extent permitted by law, be required to act in good faith or pursuant to any other standard

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imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the Delaware Act or any other law, rule or regulation or at equity, and the General Partner or the Board of Directors, as applicable, in making such determination or taking or declining to take such other action shall be permitted to do so in its sole and absolute discretion. If Special Approval is sought, then it shall be presumed that, in making its decision, the Conflicts Committee acted in good faith, and if the Board of Directors determines that the resolution or course of action taken with respect to a conflict of interest satisfies either of the standards set forth in clauses (iii) or (iv) above, then it shall be presumed that, in making its decision, the Board of Directors acted in good faith. In any proceeding brought by any Limited Partner or by or on behalf of such Limited Partner or any other Limited Partner or the Partnership challenging any action by the Conflicts Committee with respect to any matter referred to the Conflicts Committee for Special Approval by the Board of Directors, any action by the Board of Directors in determining whether the resolution or course of action taken with respect to a conflict of interest satisfies either of the standards set forth in clauses (iii) or (iv) above, the Person bringing or prosecuting such proceeding shall have the burden of overcoming the presumption that the Conflicts Committee or the Board of Directors, as applicable, acted in good faith; in all cases subject to the provisions for conclusive determination in Section 7.9(b). Notwithstanding anything to the contrary in this Agreement or any duty otherwise existing at law or equity, the existence of the conflicts of interest described in the IPO Registration Statement are hereby approved by all Partners and shall not constitute a breach of this Agreement.

(b) Whenever the General Partner or the Board of Directors, or any Director or any committee of the Board of Directors (including the Conflicts Committee), makes a determination or takes or declines to take any other action, or any Affiliate of the General Partner causes the General Partner to do so, in its capacity as the general partner of the Partnership as opposed to in its individual capacity, whether under this Agreement, any Group Member Agreement or any other agreement, then, unless another express standard is provided for in this Agreement, the General Partner, the Board of Directors or such Director or such committee or such Affiliates causing the General Partner to do so, shall make such determination or take or decline to take such other action in good faith and shall not be subject to any other or different standards (including fiduciary standards) imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the Delaware Act or any other law, rule or regulation or at equity. A determination or other action or inaction will conclusively be deemed to be in “good faith” for all purposes of this Agreement, if the Person or Persons making such determination or taking or declining to take such other action subjectively believe that the determination or other action or inaction is in the best interests of the Partnership Group; provided that, if the Board of Directors is making a determination or taking or declining to take an action pursuant to clause (iii) or clause (iv) of the first sentence of Section 7.9(a), then in lieu thereof, such determination or other action or inaction will conclusively be deemed to be in “good faith” for all purposes of this Agreement if the members of the Board of Directors making such determination or taking or declining to take such other action subjectively believe that the determination or other action or inaction meets the standard set forth in clause (iii) or clause (iv) of the first sentence of Section 7.9(a), as applicable.

(c) Whenever the General Partner makes a determination or takes or declines to take any other action, or any of its Affiliates causes it to do so, in its individual capacity as

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opposed to in its capacity as the general partner of the Partnership, whether under this Agreement, any Group Member Agreement or any other agreement contemplated hereby or otherwise, then the General Partner, or such Affiliates causing it to do so, are entitled, to the fullest extent permitted by law, to make such determination or to take or decline to take such other action free of any duty or obligation whatsoever to the Partnership or any Limited Partner, and the General Partner, or such Affiliates causing it to do so, shall not, to the fullest extent permitted by law, be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the Delaware Act or any other law, rule or regulation or at equity, and the Person or Persons making such determination or taking or declining to take such other action shall be permitted to do so in their sole and absolute discretion. By way of illustration and not of limitation, whenever the phrase, “the General Partner at its option,” or some variation of that phrase, is used in this Agreement, it indicates that the General Partner is acting in its individual capacity. For the avoidance of doubt, whenever the General Partner votes or transfers its Partnership Interests, or refrains from voting or transferring its Partnership Interests, it shall be acting in its individual capacity.

(d) The General Partner’s organizational documents may provide that determinations to take or decline to take any action in its individual, rather than representative, capacity may or shall be determined by its members, if the General Partner is a limited liability company, by its stockholders, if the General Partner is a corporation, or by the members or stockholders of the General Partner’s general partner, if the General Partner is a partnership.

(e) Notwithstanding anything to the contrary in this Agreement, (i) the Board of Directors and the General Partner and its Affiliates shall have no duty or obligation, express or implied, to sell or otherwise dispose of any asset of the Partnership Group other than in the ordinary course of business and (ii) the General Partner and its Affiliates shall have no duty or obligation, express or implied, to permit any Group Member to use any facilities or assets of the General Partner and its Affiliates, except, in each case, as may be provided in contracts entered into from time to time specifically dealing with such use. Any determination by the Board of Directors or the General Partner or any of its Affiliates to enter into such contracts shall be at its option.

(f) Except as expressly set forth in this Agreement or required by the Delaware Act, neither the General Partner, nor any Director, nor any other Indemnitee shall have any duties or liabilities, including fiduciary duties, to the Partnership or any Limited Partner, and the provisions of this Agreement, to the extent that they restrict, eliminate or otherwise modify the duties and liabilities, including fiduciary duties, of the General Partner, Directors or any other Indemnitee otherwise existing at law or in equity, are agreed by the Partners to replace such other duties and liabilities of the General Partner or such other Indemnitee. Notwithstanding the foregoing, nothing herein shall eliminate or limit (i) the express contractual provisions set forth herein or (ii) the implied contractual covenant of good faith and fair dealing.

(g) The Unitholders shall be deemed to have authorized the General Partner, on behalf of the Partnership as a general partner or managing member of a Group Member, to approve actions by the general partner or managing member of such Group Member similar to those actions permitted to be taken by the General Partner pursuant to this Section 7.9.

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Section 7.10 Certain Additional Matters Requiring Consent of the General Partner. In addition to the General Partner’s powers pursuant to Article IX and in addition to any other powers held by, or actions ascribed to, the General Partner under this Agreement or the Delaware Act, the General Partner’s consent, which may be granted or withheld in its sole discretion, shall be required for (a) the merger, consolidation or conversion of any Group Member; (b) the dissolution of any Group Member; (c) any amendment of the OpCo Partnership Agreement; and (d) any direct or indirect transfer of all or any portion of the general partner interest in the Operating Partnership to any Person.

Section 7.11 Purchase or Sale of Partnership Interests. The Board of Directors may cause the Partnership to purchase or otherwise acquire Partnership Interests or Derivative Partnership Interests. As long as Partnership Interests are held by any Group Member, such Partnership Interests shall not be considered Outstanding for any purpose, except as otherwise provided herein. The General Partner or any Affiliate of the General Partner may also purchase or otherwise acquire and sell or otherwise dispose of Partnership Interests for its own account, subject to the provisions of Articles IV and X.

Section 7.12 Reliance.

(a) Reliance on Information.

(i) The General Partner, the Board of Directors and any other Indemnitee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties.

(ii) The General Partner, the Board of Directors and any other Indemnitee may consult with legal counsel, accountants, appraisers, management consultants, investment bankers and other consultants and advisers selected by it, and any act taken or omitted to be taken in reliance upon the advice or opinion (including an Opinion of Counsel) of such Persons as to matters that the General Partner, the Board of Directors or such Indemnitee, respectively, reasonably believes to be within such Person’s professional or expert competence shall be conclusively presumed to have been done or omitted in good faith and in accordance with such advice or opinion.

(iii) The General Partner shall have the right, in respect of any of its powers or obligations hereunder, to act through any of its duly authorized officers, a duly appointed attorney or attorneys-in-fact or the duly authorized officers of the Partnership or any Group Member; provided, however, that officers of the General Partner shall be entitled to act on behalf of and to bind the Partnership only in such matters as the General Partner is authorized to act pursuant to the terms of this Agreement.

(b) Reliance by Third Parties. Notwithstanding anything to the contrary in this Agreement, any Person dealing with the Partnership shall be entitled to assume that the Board of Directors, the General Partner and any officer authorized by the Board of Directors or General Partner to act on behalf of and in the name of the Partnership has full power and

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authority to encumber, sell or otherwise use in any manner any and all assets of the Partnership and to enter into any authorized contracts on behalf of the Partnership, and such Person shall be entitled to deal with the Board of Directors, the General Partner or any such officer as if it were the Partnership’s sole party in interest, both legally and beneficially. Each Limited Partner hereby waives, to the fullest extent permitted by law, any and all defenses or other remedies that may be available against such Person to contest, negate or disaffirm any action of the Board of Directors, the General Partner or any such officer in connection with any such dealing. In no event shall any Person dealing with the Board of Directors, the General Partner or any such officer or their representatives be obligated to ascertain that the terms of this Agreement have been complied with or to inquire into the necessity or expedience of any act or action of the Board of Directors, the General Partner or any such officer or their representatives. Each and every certificate, document or other instrument executed on behalf of the Partnership by the Board of Directors, the General Partner or their officers or representatives shall be conclusive evidence in favor of any and every Person’s relying thereon or claiming thereunder that (i) at the time of the execution and delivery of such certificate, document or instrument, this Agreement was in full force and effect, (ii) the Person executing and delivering such certificate, document or instrument was duly authorized and empowered to do so for and on behalf of the Partnership and (iii) such certificate, document or instrument was duly executed and delivered in accordance with the terms and provisions of this Agreement and is binding upon the Partnership.

ARTICLE VIII

BOOKS, RECORDS, ACCOUNTING AND REPORTS

Section 8.1 Records and Accounting. The Partnership shall keep or cause to be kept at the principal office of the Partnership appropriate books and records with respect to the Partnership’s business, including the Register and all other books and records necessary to provide to the Limited Partners any information required to be provided pursuant to Section 3.3(a). Any books and records maintained by or on behalf of the Partnership in the regular course of its business, including the Register, books of account and records of Partnership proceedings, may be kept on, or be in the form of, computer disks, hard drives, punch cards, magnetic tape, photographs, micrographics or any other information storage device; provided, that the books and records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership shall be maintained, for financial reporting purposes, on an accrual basis in accordance with U.S. GAAP. The Partnership shall not be required to keep books maintained on a cash basis and the Board of Directors shall be permitted to calculate cash-based measures by making such adjustments to its accrual basis books to account for non-cash items and other adjustments as the Board of Directors determines to be necessary or appropriate.

Section 8.2 Fiscal Year. The fiscal year of the Partnership shall be a fiscal year ending December 31.

Section 8.3 Reports.

(a) Whether or not the Partnership is subject to the requirement to file reports with the Commission, as soon as practicable, but in no event later than 105 days after the close of

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each fiscal year of the Partnership (or such shorter period as required by the Commission), the Partnership shall mail or make available, by any reasonable means (including posting on or accessible through the Partnership’s or the Commission’s website) to each Record Holder of a Unit as of a date selected by the Board of Directors, an annual report containing financial statements of the Partnership for such fiscal year of the Partnership, presented in accordance with U.S. GAAP, including a balance sheet and statements of operations, Partnership equity and cash flows, such statements to be audited by a firm of independent public accountants selected by the Board of Directors, and such other information as may be required by applicable law, regulation or rule of the Commission or any National Securities Exchange on which the Units are listed or admitted to trading, or as the Board of Directors determines to be necessary or appropriate.

(b) Whether or not the Partnership is subject to the requirement to file reports with the Commission, as soon as practicable, but in no event later than 50 days after the close of each Quarter (or such shorter period as required by the Commission) except the last Quarter of each fiscal year, the Partnership shall mail or make available, by any reasonable means (including posting on or accessible through the Partnership’s or the Commission’s website) to each Record Holder of a Unit, as of a date selected by the Board of Directors, a report containing unaudited financial statements of the Partnership and such other information as may be required by applicable law, regulation or rule of the Commission or any National Securities Exchange on which the Units are listed or admitted to trading, or as the Board of Directors determines to be necessary or appropriate.

ARTICLE IX

TAX MATTERS

Section 9.1 Tax Characterizations, Elections and Information

(a) The Partnership is authorized and has elected to be treated as an association taxable as a corporation for U.S. federal income tax purposes.

(b) The General Partner shall determine whether the Partnership shall make any other tax elections permitted by the Code or state, local or foreign tax law. The General Partner shall have exclusive authority for the making of tax filings, or rendering of periodic or other tax reports to governmental or other agencies having jurisdiction over the business or assets of the Partnership.

(c) The tax information reasonably required by Record Holders for U.S. federal income tax reporting purposes shall be furnished to Record Holders on or before the date required under the Code and Treasury Regulations thereunder.

Section 9.2 Withholding. Notwithstanding any other provision of this Agreement, the General Partner is authorized to take any action that may be required to cause the Partnership and other Group Members to comply with any withholding requirements established under the Code or any other federal, state or local law including pursuant to Sections 1441, 1442, 1445, 1471 and 1472 of the Code, or established under any foreign law. To the extent that the Partnership is required or elects to withhold and pay over to any taxing authority any amount resulting from the

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allocation or distribution of income to any Partner, the General Partner may treat the amount withheld as a distribution of cash pursuant to Section 6.1 in the amount of such withholding from such Partner.

ARTICLE X

ADMISSION OF PARTNERS

Section 10.1 Admission of Limited Partners.

(a) By acceptance of any Limited Partner Interests transferred in accordance with Article IV or acceptance of any Limited Partner Interests issued pursuant to Article V or pursuant to a merger, consolidation or conversion pursuant to Article XIV, each transferee of, or other such Person acquiring, a Limited Partner Interest (including any nominee, agent or representative acquiring such Limited Partner Interests for the account of another Person or Group, which nominee, agent or representative shall be subject to Section 10.1(b) below) (i) shall be admitted to the Partnership as a Limited Partner with respect to the Limited Partner Interests so transferred or issued to such Person when such Person becomes the Record Holder of the Limited Partner Interests so transferred or acquired, (ii) shall become bound, and shall be deemed to have agreed to be bound, by the terms of this Agreement, (iii) shall be deemed to represent that the transferee or acquirer has the capacity, power and authority to enter into this Agreement and (iv) shall be deemed to make any consents, acknowledgements or waivers contained in this Agreement, all with or without execution of this Agreement by such Person. The transfer of any Limited Partner Interests and the admission of any new Limited Partner shall not constitute an amendment to this Agreement. A Person may become a Limited Partner without the consent or approval of any of the Partners. A Person may not become a Limited Partner without acquiring a Limited Partner Interest and becoming the Record Holder of such Limited Partner Interest.

(b) With respect to Units that are held for a Person’s account by another Person that is the Record Holder (such as a broker, dealer, bank, trust company or clearing corporation, or an agent of any of the foregoing), such Record Holder shall, in exercising the rights of a Limited Partner in respect of such Units, including the right to vote on any matter, and unless the arrangement between such Persons provides otherwise, take all action as a Limited Partner by virtue of being the Record Holder of such Units in accordance with the direction of the Person who is the beneficial owner of such Units, and the Partnership shall be entitled to assume such Record Holder is so acting without further inquiry. The provisions of this Section 10.1(b) are subject to the provisions of Section 4.3.

(c) The name and mailing address of each Record Holder shall be listed in the Register. The Partnership shall update the Register from time to time as necessary to reflect accurately the information therein (or shall cause the Transfer Agent to do so, as applicable).

(d) Any transfer of a Limited Partner Interest shall not entitle the transferee to share in the profits and losses, to receive distributions, to receive allocations of income, gain,

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loss, deduction or credit or any similar item or to any other rights to which the transferor was entitled until the transferee becomes a Limited Partner pursuant to Section 10.1(a).

Section 10.2 Admission of Successor General Partner. A successor General Partner approved pursuant to Section 11.1 or Section 11.2 or the transferee of or successor to all of the General Partner Interest pursuant to Section 4.6 who is proposed to be admitted as a successor General Partner shall be admitted to the Partnership as the General Partner, effective immediately prior to the withdrawal or removal of the predecessor or transferring General Partner, pursuant to Section 11.1 or 11.2 or the transfer of the General Partner Interest pursuant to Section 4.6; provided, however, that no such successor shall be admitted to the Partnership until compliance with the terms of Section 4.6 has occurred and such successor has executed and delivered such other documents or instruments as may be required to effect such admission. Any such successor is hereby authorized to and shall, subject to the terms hereof, carry on the business of the members of the Partnership Group without dissolution.

Section 10.3 Amendment of Agreement and Certificate of Limited Partnership. To effect the admission to the Partnership of any Partner, the Board of Directors shall take all steps necessary or appropriate under the Delaware Act to amend the Register and any other records of the Partnership to reflect such admission and, if necessary, to prepare as soon as practicable an amendment to this Agreement and, if required by law, the Partnership shall prepare and file an amendment to the Certificate of Limited Partnership.

ARTICLE XI

WITHDRAWAL OR REMOVAL OF PARTNERS

Section 11.1 Withdrawal of the General Partner.

(a) The General Partner shall be deemed to have withdrawn from the Partnership upon the occurrence of any one of the following events (each such event herein referred to as an “Event of Withdrawal”);

(i) The General Partner voluntarily withdraws from the Partnership by giving written notice to the other Partners pursuant to Section 11.1(b);

(ii) The General Partner transfers all of its General Partner Interest pursuant to Section 4.6;

(iii) The General Partner is removed pursuant to Section 11.2;

(iv) The General Partner (A) makes a general assignment for the benefit of creditors; (B) files a voluntary bankruptcy petition for relief under Chapter 7 of the United States Bankruptcy Code; (C) files a petition or answer seeking for itself a liquidation, dissolution or similar relief (but not a reorganization) under any law; (D) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against the General Partner in a proceeding of the type described in clauses (A)-(C) of this Section 11.1(a)(iv); or (E) seeks, consents to or acquiesces in the

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appointment of a trustee (but not a debtor-in-possession), receiver or liquidator of the General Partner or of all or any substantial part of its properties;

(v) A final and non-appealable order of relief under Chapter 7 of the United States Bankruptcy Code is entered by a court with appropriate jurisdiction pursuant to a voluntary or involuntary petition by or against the General Partner; or

(vi) (A) if the General Partner is a corporation, a certificate of dissolution or its equivalent is filed for the General Partner, or 90 days expire after the date of notice to the General Partner of revocation of its charter without a reinstatement of its charter, under the laws of its state of incorporation; (B) if the General Partner is a partnership or a limited liability company, the dissolution and commencement of winding up of the General Partner; (C) if the General Partner is acting in such capacity by virtue of being a trustee of a trust, the termination of the trust; (D) if the General Partner is a natural person, his death or adjudication of incompetency; and (E) otherwise upon the termination of the General Partner.

If an Event of Withdrawal specified in Section 11.1(a)(iv), (v) or (vi)(A), (B), (C) or (E) occurs, the withdrawing General Partner shall give notice to the Limited Partners within 30 days after such occurrence. The Partners hereby agree that only the Events of Withdrawal described in this Section 11.1 shall result in the withdrawal of the General Partner from the Partnership.

(b) Withdrawal of the General Partner from the Partnership upon the occurrence of an Event of Withdrawal shall not constitute a breach of this Agreement under the following circumstances: (i) in respect of the Event of Withdrawal specified in Section 11.1(a)(i), the General Partner voluntarily withdraws by giving at least 90 days’ advance notice to the Unitholders, such withdrawal to take effect on the date specified in such notice; or (ii) at any time that the General Partner ceases to be the General Partner pursuant to Section 11.1(a)(ii) or is removed pursuant to Section 11.2. The withdrawal of the General Partner from the Partnership upon the occurrence of an Event of Withdrawal shall also constitute the withdrawal of the General Partner as general partner or managing member, if any, to the extent applicable, of the other Group Members. If the General Partner gives a notice of withdrawal pursuant to Section 11.1(a)(i), the holders of a Unit Majority, may, prior to the effective date of such withdrawal, elect a successor General Partner. The Person so elected as successor General Partner shall automatically become the successor general partner or managing member, to the extent applicable, of the other Group Members of which the General Partner is a general partner or a managing member. Any successor General Partner elected in accordance with the terms of this Section 11.1 shall be subject to the provisions of Section 10.2.

Section 11.2 Removal of the General Partner. The General Partner may be removed if such removal is approved by the Unitholders holding at least sixty-six and two thirds percent (66 2/3%) of the Outstanding Units (including Units held by the General Partner and its Affiliates, but excluding all Non-Voting Common Units) voting as a single class. Any such action by such holders for removal of the General Partner must also provide for the election of a successor General Partner by the holders of a Unit Majority. Such removal shall be effective immediately following the admission of a successor General Partner pursuant to Section 10.2. The removal of the General Partner shall also automatically constitute the removal of the General

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Partner as general partner or managing member, to the extent applicable, of the other Group Members of which the General Partner is a general partner or a managing member. If a Person is elected as a successor General Partner in accordance with the terms of this Section 11.2, such Person shall, upon admission pursuant to Section 10.2, automatically become a successor general partner or managing member, to the extent applicable, of the other Group Members of which the General Partner is a general partner or a managing member. The right of the holders of Outstanding Units, voting together as a single class, to remove the General Partner pursuant to this Section 11.2 shall not exist or be exercised unless the Partnership has received an Opinion of Counsel that such removal (following the selection of the successor General Partner) would not result in the loss of the limited liability under the Delaware Act of any Limited Partner. Any successor General Partner elected in accordance with the terms of this Section 11.2 shall be subject to the provisions of Section 10.2.

Section 11.3 Interest of Departing General Partner and Successor General Partner.

(a) In the event of (i) withdrawal of the General Partner under circumstances where such withdrawal does not violate this Agreement or (ii) removal of the General Partner by the holders of Outstanding Units under circumstances where Cause does not exist, if the successor General Partner is elected in accordance with the terms of Section 11.1 or Section 11.2, the Departing General Partner shall have the option, exercisable prior to the effective date of the withdrawal or removal of such Departing General Partner, to require its successor to purchase its Combined Interest in exchange for an amount in cash equal to the fair market value of such Combined Interest, such amount to be determined and payable as of the effective date of its withdrawal or removal. If the General Partner is removed by the Unitholders under circumstances where Cause exists or if the General Partner withdraws under circumstances where such withdrawal violates this Agreement, and if a successor General Partner is elected in accordance with the terms of Section 11.1 or Section 11.2 (or if the business of the Partnership is continued pursuant to Section 12.2 and the successor General Partner is not the former General Partner), such successor shall have the option, exercisable prior to the effective date of the withdrawal or removal of such Departing General Partner (or, in the event the business of the Partnership is continued, prior to the date the business of the Partnership is continued), to purchase the Combined Interest for such fair market value of such Combined Interest. In either event, the Departing General Partner shall be entitled to receive all reimbursements due such Departing General Partner pursuant to Section 7.4, including any employee-related liabilities (including severance liabilities), incurred in connection with the termination of any employees employed by the Departing General Partner or its Affiliates (other than any Group Member) for the benefit of the Partnership or the other Group Members.

For purposes of this Section 11.3(a), the fair market value of the Combined Interest shall be determined by agreement between the Departing General Partner and its successor or, failing agreement within 30 days after the effective date of such Departing General Partner’s withdrawal or removal, by an independent investment banking firm or other independent expert that is selected by the Departing General Partner and its successor and that, in turn, may rely on other experts, and the determination by which shall be conclusive as to such matter. If such parties cannot agree upon one independent investment banking firm or other independent expert within 45 days after the effective date of such withdrawal or removal, then the Departing General Partner shall designate an independent investment banking firm or other independent expert, the

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Departing General Partner’s successor shall designate an independent investment banking firm or other independent expert, and such firms or experts shall mutually select a third independent investment banking firm or independent expert, which third independent investment banking firm or other independent expert shall determine the fair market value of the Combined Interest. In making its determination, such third independent investment banking firm or other independent expert may consider the then-current trading price of Units on any National Securities Exchange on which Units are then listed or admitted to trading, the value of the Partnership’s assets, the rights and obligations of the Departing General Partner, the value of the General Partner Interest and other factors it may deem relevant.

(b) If the Combined Interest is not purchased in the manner set forth in Section 11.3(a), the Departing General Partner (or its transferee) shall become a Limited Partner and its Combined Interest shall be converted into Common Units pursuant to a valuation made by an investment banking firm or other independent expert selected pursuant to Section 11.3(a), without reduction in such Partnership Interest (but subject to proportionate dilution by reason of the admission of its successor). Any successor General Partner shall indemnify the Departing General Partner (or its transferee) as to all debts and liabilities of the Partnership arising on or after the date on which the Departing General Partner (or its transferee) becomes a Limited Partner. For purposes of this Agreement, conversion of the Combined Interest of the Departing General Partner to Common Units will be characterized as if the Departing General Partner (or its transferee) contributed its Combined Interest to the Partnership in exchange for the newly issued Common Units.

(c) If a successor General Partner is elected in accordance with the terms of Section 11.1 or Section 11.2 (or if the business of the Partnership is continued pursuant to Section 12.2 and the successor General Partner is not the former General Partner) and the option described in Section 11.3(a) is not exercised by the party entitled to do so, the successor General Partner shall, at the effective date of its admission to the Partnership, contribute to the Partnership cash in the amount equal to the product of (x) the quotient obtained by dividing (A) the Adjusted Percentage Interest of the General Partner Interest of the Departing General Partner by (B) a percentage equal to one hundred percent (100%) less the Adjusted Percentage Interest of the General Partner Interest of the Departing General Partner and (y) the Fair Market Value of the Partnership’s assets on such date, net of Liabilities.

(d) In such event, such successor General Partner shall, subject to the following sentence, be entitled to its Adjusted Percentage Interest of all Partnership allocations and distributions to which the Departing General Partner was entitled. In addition, the successor General Partner shall cause this Agreement to be amended to reflect that, from and after the date of such successor General Partner’s admission, the successor General Partner’s interest in all Partnership distributions and allocations shall be its Adjusted Percentage Interest.

Section 11.4 Withdrawal of Limited Partners. No Limited Partner shall have any right to withdraw from the Partnership; provided, however, that when a transferee of a Limited Partner’s Limited Partner Interest becomes a Record Holder of the Limited Partner Interest so transferred, such transferring Limited Partner shall cease to be a Limited Partner with respect to the Limited Partner Interest so transferred.

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ARTICLE XII

DISSOLUTION AND LIQUIDATION

Section 12.1 Dissolution. The Partnership shall not be dissolved by the admission of additional Limited Partners or by the admission of a successor General Partner in accordance with the terms of this Agreement. Upon the removal or withdrawal of the General Partner, if a successor General Partner is elected pursuant to Section 11.1, Section 11.2 or Section 12.2, the Partnership shall not be dissolved and such successor General Partner shall continue the business of the Partnership. The Partnership shall dissolve, and (subject to Section 12.2) its affairs shall be wound up, upon:

(a) an Event of Withdrawal of the General Partner as provided in Section 11.1(a) (other than Section 11.1(a)(ii)), unless a successor is elected and, if applicable, the Partnership receives an Opinion of Counsel pursuant to Section 11.2 as to the matters set forth therein, and such successor is admitted to the Partnership pursuant to Section 10.2;

(b) an election to dissolve the Partnership by the Board of Directors that is approved by the General Partner, in its sole discretion, and by the holders of (i) at least a majority of the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units and excluding all Units owned by the General Partner and its Affiliates), voting as a separate class, and (ii) at least a majority of (A) the Outstanding Special Voting Units and (B) the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units) owned by the General Partner and its Affiliates, voting together as a single class;

(d) at any time there are no Limited Partners, unless the Partnership is continued without dissolution in accordance with the Delaware Act.

Section 12.2 Continuation of the Business of the Partnership After Dissolution. Upon (a) dissolution of the Partnership following an Event of Withdrawal caused by the withdrawal or removal of the General Partner as provided in Section 11.1(a)(i) or (iii) and the failure of the Partners to select a successor to such Departing General Partner pursuant to Section 11.1 or Section 11.2, then, to the maximum extent permitted by law, within ninety (90) days thereafter or (b) dissolution of the Partnership upon an event constituting an Event of Withdrawal as defined in Section 11.1(a)(iv), (v) or (vi), then, to the maximum extent permitted by law, within one hundred eighty (180) days thereafter, the holders of a Unit Majority may elect to continue the business of the Partnership on the same terms and conditions set forth in this Agreement by appointing as a successor General Partner a Person approved by the holders of a Unit Majority. Unless such an election is made within the applicable time period as set forth above, the Partnership shall conduct only activities necessary to wind up its affairs. If such an election is so made, then:

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(i) the Partnership shall continue without dissolution unless earlier dissolved in accordance with this Article XII;

(ii) if the successor General Partner is not the former General Partner, then the interest of the former General Partner shall be treated in the manner provided in Section 11.3; and

(iii) the successor General Partner shall be admitted to the Partnership as General Partner, effective as of the Event of Withdrawal, by agreeing in writing to be bound by this Agreement;

provided, that the right of the holders of a Unit Majority to approve a successor General Partner and to continue the business of the Partnership shall not exist and may not be exercised unless the Partnership has received an Opinion of Counsel that the exercise of the right would not result in the loss of limited liability of any Limited Partner under the Delaware Act.

Section 12.3 Liquidator. Upon dissolution of the Partnership in accordance with the provisions of Article XII, the General Partner shall select one or more Persons to act as Liquidator. The Liquidator (if other than the General Partner) shall be entitled to receive such compensation for its services as may be approved by holders of at least a majority of the Outstanding Common Units and Special Voting Units, voting together as a single class (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units). The Liquidator (if other than the General Partner) shall agree not to resign at any time without fifteen (15) days’ prior notice and may be removed at any time, with or without cause, by notice of removal approved by holders of at least a majority of the Outstanding Common Units and Special Voting Units, voting together as a single class (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units). Upon dissolution, removal or resignation of the Liquidator, a successor and substitute Liquidator (who shall have and succeed to all rights, powers and duties of the original Liquidator) shall within thirty (30) days thereafter be approved by holders of at least a majority of the Outstanding Common Units and Special Voting Units, voting together as a single class (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units). The right to approve a successor or substitute Liquidator in the manner provided herein shall be deemed to refer also to any such successor or substitute Liquidator approved in the manner herein provided. Except as expressly provided in this Article XII, the Liquidator approved in the manner provided herein shall have and may exercise, without further authorization or consent of any of the parties hereto, all of the powers conferred upon the General Partner and the Board of Directors under the terms of this Agreement (but subject to all of the applicable limitations, contractual and otherwise, upon the exercise of such powers, other than the limitation on sale set forth in Section 7.3) necessary or appropriate to carry out the duties and functions of the Liquidator hereunder for and during the period of time required to complete the winding up and liquidation of the Partnership as provided for herein.

Section 12.4 Liquidation. The Liquidator shall proceed to dispose of the assets of the Partnership, discharge its liabilities and otherwise wind up its affairs in such manner and over such period as determined by the Liquidator, subject to Section 17-804 of the Delaware Act and the following:

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(a) The assets may be disposed of by public or private sale or by distribution in kind to one or more Partners on such terms as the Liquidator and such Partner or Partners may agree. If any property is distributed in kind, the Partner receiving the property shall be deemed for purposes of Section 12.4(c) to have received cash equal to its Fair Market Value, net of Liabilities; and contemporaneously therewith, appropriate cash distributions must be made to the other Partners. The Liquidator may defer liquidation or distribution of the Partnership’s assets for a reasonable time if it determines that an immediate sale or distribution of all or some of the Partnership’s assets would be impractical or would cause undue loss to the Partners. The Liquidator may distribute the Partnership’s assets, in whole or in part, in kind if it determines that a sale would be impractical or would cause undue loss to the Partners.

(b) Liabilities of the Partnership include amounts owed to the Liquidator as compensation for serving in such capacity (subject to the terms of Section 12.3) and amounts to Partners otherwise than in respect of their distribution rights under Article VI. With respect to any liability that is contingent, conditional or unmatured or is otherwise not yet due and payable, the Liquidator shall either settle such claim for such amount as it thinks appropriate or establish a reserve of cash or other assets to provide for its payment. When paid, any unused portion of the reserve shall be distributed as additional liquidation proceeds.

(c) All property and all cash in excess of that required to discharge liabilities as provided in Section 12.4(b) shall be distributed to the Partners in accordance with the priorities for distributions set forth in Article VI, and such distribution shall be made by the end of such taxable period (or, if later, within ninety (90) days after said date of such occurrence); provided that any cash in excess of that required to discharge liabilities as provided in Section 12.4(b) shall be distributed with respect to the Series A Preferred Units and Series A Senior Securities prior to any distribution of cash or cash equivalents with respect to the Series A Junior Securities. The amount of such distribution paid to the holders of Series A Preferred Units shall be the greater of (i) the Series A Liquidation Value and (ii) the amount that holders of Series A Preferred Units would receive had they converted Series A Preferred Units into the number of Common Units determined by multiplying the number of Series A Preferred Units held by such holder by the Series A Conversion Rate immediately prior to the distribution (regardless of whether the Series A Preferred Units are then convertible).

Section 12.5 Cancellation of Certificate of Limited Partnership. Upon the completion of the distribution of Partnership cash and property as provided in Section 12.4 in connection with the liquidation of the Partnership, the Certificate of Limited Partnership and all qualifications of the Partnership as a foreign limited partnership in jurisdictions other than the State of Delaware shall be canceled and such other actions as may be necessary to terminate the Partnership shall be taken.

Section 12.6 Return of Contributions. The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from assets of the Partnership.

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Section 12.7 Waiver of Partition. To the maximum extent permitted by law, each Partner hereby waives any right to partition of the Partnership property.

ARTICLE XIII

AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS; RECORD DATE; VOTING

Section 13.1 Amendments to the Partnership Agreement.

(a) Each Partner agrees that the Board of Directors, without the approval of any Partner, may amend or modify, as applicable, any provision of this Agreement and execute, swear to, acknowledge, deliver, file and record whatever documents may be required in connection therewith, to reflect:

(i) a change in the name of the Partnership, the location of the principal office of the Partnership, the registered agent of the Partnership or the registered office of the Partnership;

(ii) admission, substitution, withdrawal or removal of Partners in accordance with this Agreement;

(iii) a change that the Board of Directors determines to be necessary or appropriate to qualify or continue the qualification of the Partnership as a limited partnership or a partnership in which the Limited Partners have limited liability under the laws of any state or to ensure that the Operating Partnership and the Operating Partnership’s Subsidiaries will not be treated as associations taxable as corporations or otherwise taxed as entities for federal income tax purposes;

(iv) a change that the Board of Directors determines (A) does not adversely affect the Limited Partners considered as a whole or any particular class of Partnership Interests as compared to other classes of Partnership Interests in any material respect, (B) to be necessary or appropriate to (1) satisfy any requirements, conditions or guidelines contained in any opinion, directive, order, ruling or regulation of any federal or state agency or judicial authority or contained in any federal or state statute (including the Delaware Act) or (2) facilitate the trading of the Units (including the division of any class or classes of Outstanding Units into different classes to facilitate uniformity of tax consequences within such classes of Units) or comply with any rule, regulation, guideline or requirement of any National Securities Exchange on which the Units are or will be listed or admitted to trading, (C) to be necessary or appropriate in connection with action taken by the Board of Directors pursuant to Section 5.6 or (D) is required to effect the intent of the provisions of this Agreement or is otherwise contemplated by this Agreement;

(v) a change in the fiscal year or taxable year of the Partnership and any other changes that the Board of Directors determines to be necessary or appropriate as a result of a change in the fiscal year or taxable year of the Partnership including a

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change in the definition of “Quarter” and the dates on which distributions are to be made by the Partnership;

(vi) an amendment that is necessary, in the Opinion of Counsel, to prevent the Partnership, the General Partner or their respective directors, officers, trustees or agents from in any manner being subjected to the provisions of the Investment Company Act of 1940, as amended, the Investment Advisers Act of 1940, as amended, or “plan asset” regulations adopted under the Employee Retirement Income Security Act of 1974, as amended, regardless of whether such are substantially similar to plan asset regulations currently applied or proposed by the United States Department of Labor;

(vii) an amendment that the Board of Directors determines to be necessary or appropriate in connection with the authorization or issuance of any class or series of Partnership Interests pursuant to Section 5.4;

(viii) any amendment expressly permitted in this Agreement to be made by the Board of Directors acting alone;

(ix) an amendment effected, necessitated or contemplated by a Merger Agreement approved in accordance with Section 14.3;

(x) an amendment that the Board of Directors determines to be necessary or appropriate to reflect and account for the formation by the Partnership of, or investment by the Partnership in, any corporation, partnership, joint venture, limited liability company or other entity, in connection with the conduct by the Partnership of activities permitted by the terms of Section 2.4;

(xi) a merger, conveyance or conversion pursuant to Section 14.3(d);

(xii) a modification pursuant to Section 15.11 with respect to any annual meeting of Limited Partners; or

(xiii) any other amendments substantially similar to the foregoing.

(b) Each Partner agrees that the General Partner, without the approval of any other Partner, may, in its sole discretion, amend any provision of this Agreement and execute, swear to, acknowledge, deliver, file and record whatever documents may be required in connection therewith, in connection with such changes to the ownership structure of OpCo Common Units and Special Voting Units held by the General Partner or its Affiliates as may be required to avoid adverse tax consequences resulting from changes to tax laws, so long as such amendment is not materially adverse to the Partnership or the Limited Partners.

(c) Each Partner agrees that, without the approval of any Partner, the Board of Directors may amend any provision of this Agreement in such manner as the Board of Directors determines to be necessary or appropriate to prevent the consolidation of the Partnership Group’s financial results with those of NEE and its Subsidiaries (other than Group Members) under U.S. GAAP, so long as such amendment is not materially adverse to the Partnership or the Limited Partners.

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Section 13.2 Amendment Procedures. Amendments to this Agreement may be proposed only by the General Partner, to the extent permitted under Section 13.1(b), or by the Board of Directors in accordance with the terms of this Agreement. To the fullest extent permitted by law, neither the General Partner nor the Board of Directors shall have any duty or obligation to propose or approve any amendment to this Agreement, and each of the General Partner and the Board of Directors may decline to do so free of any duty or obligation whatsoever to the Partnership, any Limited Partner or any other Person bound by this Agreement, and, in declining to propose or approve an amendment to this Agreement, to the fullest extent permitted by law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the Delaware Act or any other law, rule or regulation or at equity, and the General Partner or Board of Directors in determining whether to propose or approve any amendment to this Agreement shall be permitted to do so in its sole and absolute discretion. An amendment to this Agreement shall be effective upon its approval by the General Partner or Board of Directors, as applicable, and, except as otherwise provided by Section 13.1 or Section 13.3, the holders of a Unit Majority, unless a different percentage of Outstanding Units is required under this Agreement; provided that, subject to Section 13.1(c), any amendment to Article VI, Article VII, Section 13.1(b), Section 13.1(c), Section 13.2, Section 13.4, Section 13.9, Section 13.13 or Article XV, or any defined terms used therein, shall require the approval of the holders of (a) at least a majority of the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units and excluding all Units owned by the General Partner and its Affiliates), voting as a separate class, and (b) at least a majority of (i) the Outstanding Special Voting Units and (ii) the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units) owned by the General Partner and its Affiliates, voting together as a single class. For the avoidance of doubt, any modification or waiver of any terms set forth in Article XV of this Agreement made by the Board of Directors pursuant to Section 15.11 shall not constitute an amendment of this Agreement. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units or class of Limited Partners shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the General Partner or the Board of Directors, as applicable, shall seek the written approval of the requisite percentage of Outstanding Units or class of Limited Partners or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any amendments. The General Partner and the Board of Directors shall be deemed to have notified all Record Holders as required by this Section 13.2 if the Partnership has posted or made accessible such amendment through the Partnership’s or the Commission’s website.

Section 13.3 Amendment Requirements.

(a) Notwithstanding the provisions of Section 13.1 and Section 13.2, no provision of this Agreement that establishes a percentage of Outstanding Units (including Units deemed owned by the General Partner) or class of Limited Partners required to take any action shall be amended, altered, changed, repealed or rescinded in any respect that would have the effect of (i) in the case of any provision of this Agreement other than Section 11.2 or Section 13.4, reducing such percentage or (ii) in the case of Section 11.2 or Section 13.4(b),

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increasing such percentages, unless such amendment is approved by the written consent or the affirmative vote of holders of Outstanding Common Units and Special Voting Units, voting together as a single class (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units), whose aggregate Outstanding Common Units and Special Voting Units, voting together as a single class (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units), constitute (x) in the case of a reduction as described in subclause (a)(i) hereof, not less than the voting requirement sought to be reduced, (y) in the case of an increase in the percentage in Section 11.2, not less than ninety percent (90%) of the Outstanding Units (excluding Non-Voting Common Units) or (z) in the case of an increase in the percentage in Section 13.4(b), not less than a majority of the Outstanding Units (excluding Non-Voting Common Units).

(b) Notwithstanding the provisions of Section 13.1 and Section 13.2, no amendment to this Agreement may (i) enlarge the obligations of any Limited Partner without its consent, unless such shall be deemed to have occurred as a result of an amendment approved pursuant to Section 13.3(c) or (ii) enlarge the obligations of, restrict in any way any action by or rights of or reduce in any way the amounts distributable, reimbursable or otherwise payable to, the General Partner or any of its Affiliates without its consent, which consent may be given or withheld at its option.

(c) Except as provided in Section 14.3, and without limitation of the General Partner’s or Board’s authority to adopt amendments to this Agreement without the approval of any Partner as contemplated in Section 13.1, any amendment (including by merger or otherwise) that would have a material adverse effect on the rights or preferences of any class of Partnership Interests in relation to other classes of Partnership Interests must be approved by the holders of not less than a majority of the Outstanding Partnership Interests of the class affected. For the avoidance of doubt, (i) any amendment (including by merger or otherwise) adversely affecting the distribution, liquidation, transfer, conversion, or voting rights of the holders of Non-Voting Common Units (including any amendment that would (A) result in the Non-Voting Common Units and Common Units not having the same economic rights, (B) provide the Non-Voting Common Units with voting rights in addition to those set forth in this Agreement, (C) impose new or additional restrictions on transfer of the Non-Voting Common Units, (D) adversely change the conversion rights of the Non-Voting Common Units or impose new or additional restrictions on conversion of such Non-Voting Common Units, (E) adversely change the process of converting the Non-Voting Common Units to Common Units, (F) change the beneficial ownership threshold set forth in Section 5.9(b)(v)(B)(1), (G) make the Non-Voting Common Units redeemable or convertible at the option of the Partnership, other than as set forth herein, or (H) adversely change the Partnership’s obligation to provide transfer assistance in connection with a transfer of Non-Voting Common Units to any Person) would require approval pursuant to the foregoing sentence; and (ii) any amendment (including by merger or otherwise) adversely affecting the distribution, liquidation or conversion rights (including in connection with a Series A Change of Control) of the Series A Preferred Unitholders or the ranking or seniority of the Series A Preferred Units in relation to any other class of Partnership Interests would require approval pursuant to the foregoing sentence; provided that (A) for so long as (y) each Series A Purchase Agreement Purchaser (together with such Purchaser’s then-Affiliates) continues to be the Record Holder or beneficial owner of at least twenty-five percent (25%) of the Outstanding Series A Preferred Units, and (z) a Series A Purchaser Change of Control has not occurred with

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respect to any Series A Purchase Agreement Purchaser, any amendments that require approval under this sentence must be approved by Series A Preferred Unitholders holding at least sixty-six and two thirds percent (66 2/3%) of the Outstanding Series A Preferred Units; and (B) from and after such time as (y) any Series A Purchase Agreement Purchaser (together with such Purchaser’s then-Affiliates) ceases to be the Record Holder or beneficial owner of at least twenty-five percent (25%) of the Outstanding Series A Preferred Units, or (z) a Series A Purchaser Change of Control occurs with respect to any Series A Purchase Agreement Purchaser, any amendments that require approval under this sentence must be approved by holders of not less than a majority of the Outstanding Series A Preferred Unitholders (the vote required by clause (A) or (B), as applicable, of the foregoing proviso, the “Series A Required Voting Percentage”). Without limiting the generality of clause (ii) of the foregoing sentence, any amendment shall be deemed to have such a material adverse effect on the rights or preferences of the Series A Preferred Units if such amendment would:

(i) Reduce the Series A Distribution Amount, change the form of payment of distributions on the Series A Preferred Units, defer the date from which distributions on the Series A Preferred Units will accrue, cancel any accrued Series A Unpaid Distributions, or change the seniority rights of the Series A Preferred Unitholders as to the payment of distributions in relation to the holders of any other class or series of Partnership Interests;

(ii) Reduce the amount payable or change the form of payment to the Record Holders of the Series A Preferred Units upon the voluntary or involuntary liquidation, dissolution or winding up of the Partnership, or change the seniority of the liquidation preferences of the Record Holders of the Series A Preferred Units in relation to the rights upon liquidation of the holders of any other class or series of Partnership Interests;

(iii) Make the Series A Preferred Units redeemable or convertible at the option of the Partnership other than as set forth herein; or

(iv) Adversely amend the provisions of Section 5.5(c), Section 5.8(b)(iii)(D) or Section 5.8(b)(x).

(d) Notwithstanding any other provision of this Agreement, any amendment to the provisions relating to the IDR Fee contained in the Management Services Agreement that would materially adversely affect the holders of the Common Units shall be approved by holders of a Unit Majority.

(e) Notwithstanding any other provision of this Agreement, prior to the approval by the Partnership, as a holder of OpCo Common Units, of (i) any amendment of the OpCo Partnership Agreement that requires approval by holders of a “Unit Majority” (as defined therein), such amendment shall also be approved by holders of a Unit Majority hereunder, and (ii) any amendment of the OpCo Partnership Agreement that requires approval by holders of at least ninety percent (90%) of the OpCo Common Units, such amendment shall also be approved by holders of at least ninety percent (90%) of the Outstanding Units hereunder.

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(f) Notwithstanding any other provision of this Agreement, except for amendments pursuant to Section 13.1 and except as otherwise provided by Section 14.3(b), no amendments shall become effective without the approval of the holders of at least ninety percent (90%) of the Outstanding Units unless the Partnership obtains an Opinion of Counsel to the effect that such amendment will not affect the limited liability of any Limited Partner under applicable partnership law of the state under whose laws the Partnership is organized.

(g) Except as provided in Section 13.1, this Section 13.3 shall only be amended with the approval of the holders of at least ninety percent (90%) of the Outstanding Units; provided that clauses (d) and (e)(i) of this Section 13.3 may be amended with the approval of the holders of a Unit Majority.

Section 13.4 Annual and Special Meetings. All acts of Limited Partners to be taken pursuant to this Agreement shall be taken in the manner provided in this Article XIII. Meetings of the Limited Partners for the election of Directors or for any other purpose shall be held at such time and place, either within or without the State of Delaware, as shall be designated from time to time by the Board of Directors.

(a) An annual meeting of the Limited Partners for the election of Directors shall be held on such date and at such time as shall be designated from time to time by the Board of Directors. Limited Partners shall not be entitled to bring business at any annual meeting of Limited Partners except pursuant to Rule 14a-8 promulgated under the Exchange Act.

(b) Special meetings of the Limited Partners may be called by the Board of Directors (or any committee thereof duly authorized to call such a meeting), by the General Partner or by Limited Partners owning (without giving effect to Section 13.13) twenty percent (20%) or more of the Outstanding Units of the class or classes for which a meeting is proposed, subject to compliance with the provisions of this Section 13.4(b).

(i) Limited Partners may call a special meeting of Limited Partners by delivering to the Secretary of the Partnership one or more requests in writing stating that the signing Limited Partners wish to call a special meeting of all Limited Partners and indicating the specific purposes for which the special meeting is to be called; provided, however, that the Limited Partners shall be entitled to call a special meeting only to remove LP Elected Directors for Cause or the General Partner and not to conduct any other business. No other business may be brought by any Limited Partner before such special meeting except the business listed in the related request; provided that nominations of Directors shall not be permitted at any special meeting requested by Limited Partners. To be in proper written form, a request for a special meeting of Limited Partners must set forth in writing the following:

(A) as to the Limited Partner or Limited Partners making the request and the beneficial owner, if any, on whose behalf the proposal is made:

(1) the name and address of such Limited Partner or Limited Partners as they appear on the Partnership’s books, and of such beneficial owner or beneficial owners, if any;

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(2) information about all holdings or other interests in the Partnership’s securities, including: (I) the class or series and number of Units or other Limited Partner Interests that are, directly or indirectly, owned of record or owned beneficially by the Limited Partner(s) and such beneficial owner(s), if any, and a representation that the Limited Partner(s) and beneficial owner(s), if any, will notify the Partnership in writing of the class or series and number of such Units or other Limited Partner Interests owned of record and beneficially as of the Record Date for the meeting, promptly following the later of the Record Date and the date notice of the Record Date is first publicly announced; (II) any Derivative Partnership Interests directly or indirectly owned beneficially by such Limited Partner(s) and beneficial owner(s), if any, and any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of Limited Partner Interests; (III) any proxy, contract, arrangement, understanding or relationship pursuant to which such Limited Partner(s) and beneficial owner(s), if any, have a right to vote any security of the Partnership; (IV) any short interest in any security of the Partnership (for purposes hereof, a person or entity shall be deemed to have a short interest in a security if such person or entity directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has the opportunity to profit or share in any profit derived from any decrease in the value of the subject security); (V) any rights to distributions from the Limited Partner Interests of the Partnership owned beneficially by such Limited Partner(s) and beneficial owner(s), if any, that are separated or separable from the underlying securities of the Partnership; (VI) any proportionate interest in Limited Partner Interests or Derivative Partnership Interests held, directly or indirectly, by (xx) a general or limited partnership in which such Limited Partner(s) and beneficial owner(s), if any, are general partners or, directly or indirectly, beneficially own an interest in a general partner, (yy) a limited liability company in which such Limited Partner(s) and beneficial owner(s), if any, are managing members or, directly or indirectly, beneficially own an interest in a managing member or (zz) another entity or enterprise in which such Limited Partner(s) and beneficial owner(s), if any, serve in a similar management capacity or directly or indirectly, beneficially own an interest in an entity or enterprise that serves in such a management capacity; and (VII) any performance-related fees (other than an asset-based fee) that such Limited Partner(s) and beneficial owner(s), if any, are entitled to be based on any increase or decrease in the value of Limited Partner Interests or Derivative Partnership Interests, if any, as of the date of such request, including any such interests held by such Limited Partners’ and beneficial owners’, if any, Affiliates, any person or entity with whom such Limited Partners and beneficial owners, if any, is acting in concert or members of such Limited Partners’ and beneficial owners’, if any, immediate family sharing the same household (which information shall be supplemented by such Limited Partner(s) and beneficial owner(s), if any, not later than ten (10) days after the later of the Record Date for the special meeting or the date on which the Record Date for such special meeting is first publicly announced);

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(3) a representation that each Limited Partner is a holder of record of Limited Partner Interests entitled to vote at such special meeting on the removal of LP Elected Directors or the General Partner and intends to appear in person or by proxy at such meeting to propose such removal; and

(4) any other information relating to such Limited Partner(s) and beneficial owner(s), if any, that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for, as applicable, the proposal pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder.

(B) in addition, the request must include the following:

(1) the identity of the LP Elected Director (or LP Elected Directors) or the General Partner sought to be removed at the meeting, the reason for the proposed removal and any material interest of such Limited Partner(s) and beneficial owner(s), if any, in connection with such removal;

(2) a brief statement as to how such Limited Partner(s) intend to vote on such removal; and

(3) a description of all agreements, arrangements and understandings, whether written or oral, between such Limited Partner(s) and beneficial owner(s), if any, and any other person or persons (including the names of such persons) in connection with the proposal of such matter by such Limited Partner(s).

(ii) Within sixty (60) days after receipt of a request from Limited Partners or within such greater time as may be reasonably necessary for the Partnership to comply with any statutes, rules, regulations, listing agreements or similar requirements governing the holding of a meeting or the solicitation of proxies for use at such a meeting, the Board of Directors shall send a notice of the meeting to the Limited Partners either directly or indirectly. A meeting shall be held at a time and place determined by the Board of Directors on a date not less than ten (10) days nor more than sixty (60) days after the time notice of the meeting is given as provided in Section 16.1.

(iii) If the notice requirements set forth in this Section 13.4(b) are satisfied by the Limited Partners requesting a special meeting and such Limited Partners’ proposal has been included in a proxy statement that has been prepared by management of the Partnership to solicit proxies for the applicable special meeting of Limited Partners and such Limited Partners do not appear or send a qualified representative to present such proposal at such meeting, the Partnership need not present such proposal for a vote at such meeting, notwithstanding that proxies in respect of such vote may have been received by the Partnership. For purposes of this Section 13.4(b), to be considered a qualified representative of a Limited Partner, a person must be authorized by a writing executed by such Limited Partner or an electronic transmission delivered by such Limited

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Partner to the Secretary of the Partnership (in the case of a writing, delivered in person or by facsimile, or sent by U.S. certified mail and received, at the principal executive offices of the Partnership) to act for such Limited Partner as proxy at the meeting of Limited Partners, and such person must produce such writing or electronic transmission, or a reliable printed reproduction of such writing or electronic transmission, at the meeting of Limited Partners.

(iv) Limited Partners shall not be permitted to vote on matters that would cause the Limited Partners to be deemed to be taking part in the management and control of the business and affairs of the Partnership so as to jeopardize the Limited Partners’ limited liability under the Delaware Act or the law of any other state in which the Partnership is qualified to do business. If any such vote were to take place, it shall be deemed null and void to the extent necessary so as not to jeopardize the Limited Partners’ limited liability under the Delaware Act or the law of any other state in which the Partnership is qualified to do business.

(v) Notwithstanding the foregoing provisions of this Section 13.4(b), a Limited Partner shall also comply with all applicable requirements of the Exchange Act and the rules and regulations thereunder, and all applicable rules and requirements of the National Securities Exchange on which the Common Units are listed or admitted to trading or, if the Common Units are not so listed or admitted to trading, the quotation system on which the Partnership’s securities are listed or quoted, in each case, with respect to the matters set forth in this Section 13.4(b); provided, however, that any references in this Agreement to the Exchange Act or the rules promulgated thereunder are not intended to and shall not limit the requirements applicable to proposals as to any business to be considered pursuant to this Section 13.4(b). Nothing in this Section 13.4(b) shall be deemed to affect any rights of Limited Partners to request inclusion of proposals in the Partnership’s proxy statement pursuant to Rule 14a-8 (or any successor provision) promulgated under the Exchange Act.

Section 13.5 Notice of a Meeting. Notice of an annual meeting of Limited Partners called pursuant to Section 13.4(a) shall be given to the Record Holders of all Outstanding Units by mail or other means of written communication in accordance with Section 16.1. Notice of a special meeting called pursuant to Section 13.4(b) shall be given to the Record Holders of the class or classes of Units for which a meeting is proposed in writing by mail or other means of written communication in accordance with Section 16.1.

Section 13.6 Record Date. For purposes of determining the Limited Partners who are Record Holders of the class or classes of Limited Partner Interests entitled to notice of or to vote at a meeting of the Limited Partners or to give approvals without a meeting as provided in Section 13.11, the Board of Directors shall set a Record Date, which shall not be less than ten (10) nor more than sixty (60) days before (a) the date of the meeting (unless such requirement conflicts with any rule, regulation, guideline or requirement of any National Securities Exchange on which the Units are listed or admitted to trading or U.S. federal securities laws, in which case the rule, regulation, guideline or requirement of such National Securities Exchange or U.S. federal securities laws shall govern) or (b) in the event that approvals are sought without a

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meeting, the date by which such Limited Partners are requested in writing by the Board of Directors to give such approvals.

Section 13.7 Postponement and Adjournment. Prior to the date upon which any meeting of Limited Partners is to be held, the Board of Directors may postpone such meeting one or more times for any reason by giving notice to each Limited Partner entitled to vote at the meeting so postponed of the place, date and hour at which such meeting would be held. Such notice shall be given not fewer than two (2) days before the date of such meeting and otherwise in accordance with this Article XIII. When a meeting is postponed, a new Record Date need not be fixed unless the aggregate amount of such postponement shall be for more than forty-five (45) days after the original meeting date. Any meeting of Limited Partners may be adjourned by the Board of Directors (or any authorized committee of the Board of Directors) one or more times for any reason, including the failure of a quorum to be present at the meeting with respect to any proposal or the failure of any proposal to receive sufficient votes for approval. No vote of the Limited Partners shall be required for any adjournment. A meeting of Limited Partners may be adjourned by the Board of Directors as to one or more proposals regardless of whether action has been taken on other matters. When a meeting is adjourned to another time or place, notice need not be given of the adjourned meeting and a new Record Date need not be fixed, if the time and place thereof are announced at the meeting at which the adjournment is taken, unless such adjournment shall be for more than forty-five (45) days. If the adjournment is for more than forty-five (45) days or if a new Record Date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given in accordance with this Article XIII. At any adjourned meeting, the Partnership may transact any business which might have been transacted at the original meeting.

Section 13.8 Waiver of Notice of a Meeting. The transactions of any meeting of Limited Partners, however called and noticed, and whenever held, shall be as valid as if they had occurred at a meeting duly held after call and notice in accordance with Section 13.4 and this Section 13.5, if a quorum is present either in person or by proxy. Attendance of a Limited Partner at a meeting shall constitute a waiver of notice of the meeting, except when the Limited Partner attends the meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened; and except that attendance at a meeting is not a waiver of any right to disapprove of any matters submitted for consideration or to object to the failure to submit for consideration any matters required to be included in the notice of the meeting, but not so included, if such objection is expressly made at the beginning of the meeting.

Section 13.9 Quorum and Voting.

(a) (i) The presence, in person or by proxy, of holders of a majority of the voting power of the Outstanding Units of the class or classes for which a meeting has been called and which are entitled to vote at such meeting (including Outstanding Units deemed owned by the General Partner and its Affiliates) shall constitute a quorum at a meeting of Limited Partners of such class or classes unless any such action by the Limited Partners requires approval by holders of a different percentage of such Units, in which case the quorum shall be such different percentage. (ii) At any meeting of the Limited Partners duly called and held in accordance with this Agreement at which a quorum is present, the act of Limited Partners holding Outstanding Units that in the aggregate represent a majority of the Outstanding Units entitled to vote at such meeting (on all matters on which the holders of all Units vote together as a single class) or a majority of the Outstanding

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Units of each class entitled to vote at such meeting (on all matters on which the holders of each class of Units vote separately by class) shall be deemed to constitute the act of all Limited Partners, unless a different percentage or class vote is required with respect to such action under the provisions of this Agreement, in which case the act of the Limited Partners holding Outstanding Units that in the aggregate represent at least such different percentage with respect to the Outstanding Units entitled to vote at such meeting (on all matters on which the holders of all Units vote together as a single class) or a majority of the Outstanding Units of each class entitled to vote at such meeting (on all matters on which the holders of each class of Units vote separately by class) shall be required; provided, in each case, the vote of any such quorum shall be subject to the provisions of Section 13.13. (iii) The Limited Partners present at a duly called or held meeting at which a quorum is present may continue to transact business until adjournment, notwithstanding the exit of enough Limited Partners to leave less than a quorum, if any action taken (other than adjournment) is approved by the required percentage of Outstanding Units or class of Limited Partner Interests specified in this Agreement.

(b) If a quorum exists, a nominee for LP Elected Director shall be elected to the Board of Directors if, subject to Section 13.13, the votes cast for such nominee’s election by Limited Partners present in person or represented by proxy at the meeting and entitled to vote on the matter exceed the votes cast by such Limited Partners against such nominee’s election; provided, however, that if the number of persons considered by the Limited Partners for election as LP Elected Directors exceeds the total number of LP Elected Directors to be elected, LP Elected Directors shall be elected by a plurality of the votes cast; provided, further, that all persons considered for election (other than those recommended for nomination by or at the direction of the Chief Executive Officer of the Partnership, the Board of Directors or any duly authorized committee thereof) shall have met all applicable requirements and procedures in being placed in nomination and considered for election, including the requirements set forth in this Agreement and in all applicable laws, rules and regulations.

(c) If a quorum exists, an LP Elected Director shall be removed from the Board of Directors if, subject to Section 13.13, the votes cast for such LP Elected Director’s removal by the Limited Partners present in person or represented by proxy at the meeting and entitled to vote on the matter exceeds the votes cast by such Limited Partners against such LP Elected Director’s removal.

Section 13.10 Conduct of a Meeting. The Board of Directors shall have full power and authority concerning the manner of conducting any meeting of the Limited Partners or solicitation of approvals in writing, including the determination of Persons entitled to vote, the existence of a quorum, the satisfaction of the requirements of Section 13.4, the conduct of voting, the validity and effect of any proxies and the determination of any controversies, votes or challenges arising in connection with or during the meeting or voting. The Board of Directors shall designate a Person to serve as chairman of any meeting and shall further designate a Person to take the minutes of any meeting. All minutes shall be kept with the records of the Partnership maintained by the Partnership. The Board of Directors may make such other regulations consistent with applicable law and this Agreement as it may deem advisable concerning the

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conduct of any meeting of the Limited Partners or solicitation of approvals in writing, including regulations in regard to the appointment of proxies, the appointment and duties of inspectors of votes and approvals, the submission and examination of proxies and other evidence of the right to vote and the submission and revocation of approvals in writing.

Section 13.11 Action Without a Meeting. If authorized by the Board of Directors, any action that may be taken at a meeting of the Limited Partners may be taken without a meeting if an approval in writing setting forth the action so taken is signed by Limited Partners owning not less than the minimum percentage of the Outstanding Units (including Units deemed owned by the General Partner and its Affiliates) that, subject to Section 13.13, would be necessary to authorize or take such action at a meeting at which all the Limited Partners were present and voted (unless such provision conflicts with any rule, regulation, guideline or requirement of any National Securities Exchange on which the Units are listed or admitted to trading, in which case the rule, regulation, guideline or requirement of such National Securities Exchange shall govern). Prompt notice of the taking of action without a meeting shall be given to the Limited Partners who have not approved in writing. The Board of Directors may specify that any written ballot submitted to Limited Partners for the purpose of taking any action without a meeting shall be returned to the Partnership within the time period, which shall be not less than twenty (20) days, specified by the Board of Directors. If a ballot returned to the Partnership does not vote all of the Outstanding Units held by such Limited Partners, the Partnership shall be deemed to have failed to receive a ballot for the Outstanding Units that were not voted.

Section 13.12 Right to Vote and Related Matters.

(a) Only those Record Holders of the Outstanding Units on the Record Date set pursuant to Section 13.6 (and also subject to the limitations contained in the definition of “Outstanding”) shall be entitled to notice of, and to vote at, a meeting of Limited Partners or to act with respect to matters as to which the holders of the Outstanding Units have the right to vote or to act. All references in this Agreement to votes of, or other acts that may be taken by, the Outstanding Units shall be deemed to be references to the votes or acts of the Record Holders of such Outstanding Units.

(b) With respect to Units that are held for a Person’s account by another Person that is the Record Holder (such as a broker, dealer, bank, trust company or clearing corporation, or an agent of any of the foregoing), such Record Holder shall, in exercising the voting rights in respect of such Units on any matter, and unless the arrangement between such Persons provides otherwise or as otherwise permitted by the applicable rules and requirements of the National Securities Exchange on which the Common Units are listed or admitted to trading, vote such Units in favor of, and in accordance with the direction of, the Person who is the beneficial owner of such Units, and the Partnership shall be entitled to assume such Record Holder is so acting without further inquiry. The provisions of this Section 13.12(b) (as well as all other provisions of this Agreement) are subject to the provisions of Section 4.3.

Section 13.13 Reductions in Voting Power.

(a) Five Percent (5%) Voting Limitation. If any Person acquires or holds Limited Partner Interests in an amount that would result in such Person’s owning, controlling or

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holding, together with the members of any related Group, the power to vote five percent (5%) or more of the then Outstanding Limited Partner Interests entitled to vote in the election or removal of LP Elected Directors, then such Person, and any related Group (with the voting limitation set forth herein being applied to each member pro rata within such Group), shall be entitled to vote not more than five percent (5%) of such Outstanding Limited Partner Interests in the election or removal of LP Elected Directors, and the amount of Limited Partner Interests held by such Person and by any related Group in excess of five percent (5%) in voting power shall not be entitled to vote in the election or removal of LP Elected Directors.

(b) Other Voting Limitations. If any Person acquires or holds Limited Partner Interests in an amount that would result in such Person’s owning, controlling or holding, together with the members of any related Group, the power to vote ten percent (10%) or more of the Limited Partner Interests present and actually voted on any matter (provided, however, that the provisions of this Section 13.13(b) shall be given effect after giving effect to Section 13.13(a)), then the voting power of such Person and any related Group (with the voting limitation set forth herein being applied to each member pro rata within such Group) shall be reduced as follows:

(i) If such Person is not the General Partner or any of its Affiliates, then such Person, together with any related Group, shall be entitled to vote not more than 9.99% of such Limited Partner Interests present and actually voted on any matter (including the election or removal of LP Elected Directors), and the amount of Limited Partner Interests held by such Person and by any related Group equaling ten percent (10%) or greater in voting power shall be voted proportionally with all other votes of holders of Limited Partner Interests on such matter.

(ii) If such Person is the General Partner or any of its Affiliates, then such Person, together with any related Group, shall be entitled to vote not more than 9.99% of such Limited Partner Interests present and actually voted in the election or removal of LP Elected Directors, and the amount of Limited Partner Interests held by such Person and by any related Group equaling ten percent (10%) or greater in voting power shall be voted proportionally in the election or removal of LP Elected Directors with all other votes of holders of Limited Partner Interests in the election or removal of LP Elected Directors; provided that this Section 13.13(b)(ii) shall not apply to voting rights on any matter other than the election or removal of LP Elected Directors.

(c) The incremental voting power voted proportionally pursuant to Section 13.13(b) shall be rounded to the nearest whole Unit (with fractional Units equal to or greater than 0.5 Unit being rounded to the next higher Unit).

Section 13.14 Special Voting Units. Each of the Partners and each other Person who may acquire Partnership Interests agrees that the holders of Special Voting Units shall be entitled to receive notice of, be included in any requisite quora for and participate in any and all approvals, votes or other actions of the Partners on a pro rata basis as, and treating such Persons for all purposes as if they are, Limited Partners holding Common Units, including any and all notices, quora, approvals, votes and other actions that may be taken pursuant to the requirements of the Delaware Act or any other applicable law, rule or regulation, except as otherwise explicitly provided hereunder. The affirmative vote of the holders of a majority of the voting

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power of all Special Voting Units voting separately as a class shall be required to alter, amend or repeal this Section 13.14 or to adopt any provision inconsistent therewith.

ARTICLE XIV

MERGER, CONSOLIDATION OR CONVERSION

Section 14.1 Authority. The Partnership may merge or consolidate with or into one or more corporations, limited liability companies, statutory trusts or associations, real estate investment trusts, common law trusts or unincorporated businesses, including a partnership (whether general or limited (including a limited liability partnership)) or convert into any such entity, whether such entity is formed under the laws of the State of Delaware or any other state of the United States of America, pursuant to a written plan of merger or consolidation (“Merger Agreement”) or a written plan of conversion (“Plan of Conversion”), as the case may be, in accordance with this Article XIV.

Section 14.2 Procedure for Merger, Consolidation or Conversion.

(a) Merger, consolidation or conversion of the Partnership pursuant to this Article XIV requires the prior consent of the General Partner, which consent may be granted or withheld in its sole discretion, and approval of the Board of Directors; provided, however, that, to the fullest extent permitted by law, the General Partner and the Board of Directors shall have no duty or obligation to consent to any merger, consolidation or conversion of the Partnership and may decline to do so free of any duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to consent to a merger, consolidation or conversion, shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any other agreement contemplated hereby or under the Delaware Act or any other law, rule or regulation or at equity, and the General Partner and Board of Directors, in determining whether to consent to any merger, consolidation or conversion of the Partnership, shall be permitted to do so in their sole and absolute discretion.

(b) If the Board of Directors approves, and if the General Partner shall determine to consent to, the merger or consolidation, the Board of Directors shall authorize the officers of the Partnership to execute, deliver and perform the Merger Agreement, which shall set forth:

(i) name and state of domicile of each of the business entities proposing to merge or consolidate;

(ii) the name and state of domicile of the business entity that is to survive the proposed merger or consolidation (the “Surviving Business Entity”);

(iii) the terms and conditions of the proposed merger or consolidation;

(iv) the manner and basis of exchanging or converting the equity securities of each constituent business entity for, or into, cash, property or interests, rights, securities or obligations of the Surviving Business Entity; and (A) if any general or limited partner interests, securities or rights of any constituent business entity are not

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to be exchanged or converted solely for, or into, cash, property or general or limited partner interests, rights, securities or obligations of the Surviving Business Entity, the cash, property or interests, rights, securities or obligations of any general or limited partnership, corporation, trust, limited liability company, unincorporated business or other entity (other than the Surviving Business Entity) which the holders of such general or limited partner interests, securities or rights are to receive in exchange for, or upon conversion of their interests, securities or rights; and (B) in the case of securities represented by certificates, upon the surrender of such certificates, which cash, property or general or limited partner interests, rights, securities or obligations of the Surviving Business Entity or any general or limited partnership, corporation, trust, limited liability company, unincorporated business or other entity (other than the Surviving Business Entity), or evidences thereof, are to be delivered;

(v) a statement of any changes in the constituent documents or the adoption of new constituent documents (the articles or certificate of incorporation, articles of trust, declaration of trust, certificate or agreement of limited partnership, operating agreement or other similar charter or governing document) of the Surviving Business Entity to be effected by such merger or consolidation;

(vi) the effective time of the merger, which may be the date of the filing of the certificate of merger pursuant to Section 14.4 or a later date specified in or determinable in accordance with the Merger Agreement (provided, that if the effective time of the merger is to be later than the date of the filing of such certificate of merger, the effective time shall be fixed at a date or time certain at or prior to the time of the filing of such certificate of merger and stated therein); and

(vii) such other provisions with respect to the proposed merger or consolidation that the Board of Directors determines to be necessary or appropriate.

(c) If the Board of Directors approves, and if the General Partner shall determine, in its sole discretion, to consent to, the conversion, the Board of Directors shall authorize the officers of the Partnership to execute, deliver and perform the Plan of Conversion, which shall set forth:

(i) the name of the converting entity and the converted entity;

(ii) a statement that the Partnership is continuing its existence in the organizational form of the converted entity;

(iii) a statement as to the type of entity that the converted entity is to be and the state or country under the laws of which the converted entity is to be incorporated, formed or organized;

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(v) in an attachment or exhibit, the certificate of limited partnership of the Partnership;

(vi) in an attachment or exhibit, the certificate of limited partnership, articles of incorporation or other organizational documents of the converted entity;

(vii) the effective time of the conversion, which may be the date of the filing of the articles of conversion or a later date specified in or determinable in accordance with the Plan of Conversion (provided, that if the effective time of the conversion is to be later than the date of the filing of such articles of conversion, the effective time shall be fixed at a date or time certain at or prior to the time of the filing of such articles of conversion and stated therein); and

(viii) such other provisions with respect to the proposed conversion that the Board of Directors determines to be necessary or appropriate.

Section 14.3 Approval by Limited Partners. Except as provided in Section 14.3(d), the Board of Directors, upon its approval of the Merger Agreement or the Plan of Conversion, as the case may be, shall direct that the Merger Agreement or the Plan of Conversion, as applicable, be submitted to a vote of Limited Partners, whether at a special meeting or by written consent, in either case in accordance with the requirements of Article XIII. A copy or a summary of the Merger Agreement or the Plan of Conversion, as the case may be, shall be included in or enclosed with the notice of a special meeting or the written consent and, subject to any applicable requirements of Regulation 14A pursuant to the Exchange Act or successor provision, no other disclosure regarding the proposed merger, consolidation or conversion shall be required.

(a) Except as provided in Section 14.3(d) and Section 14.3(e), the Merger Agreement or Plan of Conversion, as the case may be, shall be approved upon receiving the affirmative vote or consent of the holders of (i) at least a majority of the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units and excluding all Units owned by the General Partner and its Affiliates), voting as a separate class, and (ii) at least a majority of (A) the Outstanding Special Voting Units and (B) the Outstanding Common Units (including Series A Preferred Units, as provided in Section 5.8(b)(iii)(A), but excluding all Non-Voting Common Units) owned by the General Partner and its Affiliates, voting together as a single class, unless the Merger Agreement or Plan of Conversion, as the case may be, effects an amendment to any provision of this Agreement that, if contained in an amendment to this Agreement adopted pursuant to Article XIII, would require for its approval the vote or consent of a greater percentage of the Outstanding Units or of any class of Limited Partners, in which case such greater percentage vote or consent shall be required for approval of the Merger Agreement or the Plan of Conversion, as the case may be.

(b) Except as provided in Section 14.3(d) and Section 14.3(e), after such approval by vote or consent of the Limited Partners, and at any time prior to the filing of the certificate of merger or articles of conversion pursuant to Section 14.4, the merger, consolidation or conversion may be abandoned pursuant to provisions therefor, if any, set forth in the Merger Agreement or Plan of Conversion, as the case may be.

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(c) Notwithstanding anything else contained in this Article XIV or in this Agreement, the Partnership is permitted, without Limited Partner approval, to convert the Partnership or any Group Member into a new limited liability entity, to merge the Partnership or any Group Member into, or convey all of the Partnership’s assets to, another limited liability entity that shall be newly formed and shall have no assets, liabilities or operations at the time of such conversion, merger or conveyance other than those it receives from the Partnership or other Group Member if (i) the Partnership has received an Opinion of Counsel that the conversion, merger or conveyance, as the case may be, would not result in the loss of limited liability under the laws of the jurisdiction governing the other limited liability entity (if that jurisdiction is not Delaware) of any Limited Partner as compared to its limited liability under the Delaware Act or cause the Operating Partnership or the Operating Partnership’s Subsidiaries to be treated as an association taxable as a corporation or otherwise to be taxed as an entity for federal income tax purposes (to the extent not previously treated as such), (ii) the sole purpose of such conversion, merger or conveyance is to effect a mere change in the legal form of the Partnership into another limited liability entity and (iii) the Board of Directors determines that the governing instruments of the new entity provide the Limited Partners and the General Partner with substantially the same rights and obligations as are herein contained.

(d) Additionally, notwithstanding anything else contained in this Article XIV or in this Agreement, the Partnership is permitted, without Limited Partner approval, to merge or consolidate the Partnership with or into another limited liability entity if (i) the Partnership has received an Opinion of Counsel that the merger or consolidation, as the case may be, would not result in the loss of the limited liability of any Limited Partner under the laws of the jurisdiction governing the other limited liability entity (if that jurisdiction is not Delaware) as compared to its limited liability under the Delaware Act or cause the Operating Partnership or the Operating Partnership’s Subsidiaries to be treated as an association taxable as a corporation or otherwise to be taxed as an entity for federal income tax purposes (to the extent not previously treated as such), (ii) the merger or consolidation would not result in an amendment to this Agreement, other than any amendments that could be adopted pursuant to Section 13.1, (iii) the Partnership is the Surviving Business Entity in such merger or consolidation, (iv) each Unit outstanding immediately prior to the effective date of the merger or consolidation is to be an identical Unit of the Partnership after the effective date of the merger or consolidation and (v) the number of Partnership Interests to be issued by the Partnership in such merger or consolidation does not exceed twenty percent (20%) of the Partnership Interests Outstanding immediately prior to the effective date of such merger or consolidation.

(e) Pursuant to Section 17-211(g) of the Delaware Act, an agreement of merger or consolidation approved in accordance with this Article XIV may (i) effect any amendment to this Agreement or (ii) effect the adoption of a new partnership agreement for the Partnership if it is the Surviving Business Entity. Any such amendment or adoption made pursuant to this Section 14.3 shall be effective at the effective time or date of the merger or consolidation.

Section 14.4 Certificate of Merger or Certificate of Conversion. Upon the required approval by the Board of Directors, the General Partner and the Unitholders of a Merger Agreement or the Plan of Conversion, as the case may be, a certificate of merger or certificate of conversion or other filing, as applicable, shall be executed and filed with the Secretary of State of

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the State of Delaware or the appropriate filing office of any other jurisdiction, as applicable, in conformity with the requirements of the Delaware Act or other applicable law.

Section 14.5 Effect of Merger, Consolidation or Conversion.

(a) At the effective time of the merger:

(i) all of the rights, privileges and powers of each of the business entities that has merged or consolidated, and all property, real, personal and mixed, and all debts due to any of those business entities and all other things and causes of action belonging to each of those business entities, shall be vested in the Surviving Business Entity and after the merger or consolidation shall be the property of the Surviving Business Entity to the extent they were of each constituent business entity;

(ii) the title to any real property vested by deed or otherwise in any of those constituent business entities shall not revert and is not in any way impaired because of the merger or consolidation;

(iii) all rights of creditors and all liens on or security interests in property of any of those constituent business entities shall be preserved unimpaired; and

(iv) all debts, liabilities and duties of those constituent business entities shall attach to the Surviving Business Entity and may be enforced against it to the same extent as if the debts, liabilities and duties had been incurred or contracted by it.

(b) At the effective time of the conversion:

(i) the Partnership shall continue to exist, without interruption, but in the organizational form of the converted entity rather than in its prior organizational form;

(ii) all rights, title and interests to all real estate and other property owned by the Partnership shall continue to be owned by the converted entity in its new organizational form without reversion or impairment, without further act or deed, and without any transfer or assignment having occurred, but subject to any existing liens or other encumbrances thereon;

(iii) all liabilities and obligations of the Partnership shall continue to be liabilities and obligations of the converted entity in its new organizational form without impairment or diminution by reason of the conversion;

(iv) all rights of creditors or other parties with respect to or against the prior interest holders or other owners of the Partnership in their capacities as such in existence as of the effective time of the conversion will continue in existence as to those liabilities and obligations and may be pursued by such creditors and obligees as if the conversion did not occur;

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(v) a proceeding pending by or against the Partnership or by or against any of Partners in their capacities as such may be continued by or against the converted entity in its new organizational form and by or against the prior partners without any need for substitution of parties; and

(vi) the Partnership Interests that are to be converted into partnership interests, shares, evidences of ownership or other securities in the converted entity as provided in the plan of conversion shall be so converted, and Partners shall be entitled only to the rights provided in the Plan of Conversion.

ARTICLE XV

PROXY ACCESS FOR DIRECTOR NOMINATIONS

Section 15.1 General. Whenever the Board of Directors solicits proxies with respect to the election of LP Elected Directors at an annual meeting of Limited Partners, subject to the provisions of this Article XV, the Partnership shall include in its proxy statement for such annual meeting, in addition to any natural persons nominated for election as an LP Elected Director by or at the direction of the Board of Directors (or any duly authorized committee thereof) or the Chief Executive Officer of the Partnership, in accordance with Section 7.1(d)(iii), the name, together with the Required Information (as defined below), of any natural person nominated for election (a “Limited Partner Nominee”) to the Board of Directors as an LP Elected Director by an Eligible Limited Partner that expressly elects at the time of providing the notice required by this Article XV (the “Nomination Notice”) to have its nominee included in the Partnership’s proxy materials pursuant to this Article XV. Other than any Person included in the Partnership’s proxy statement for election as an LP Elected Directors by Eligible Limited Partners in compliance with this Article XV, Limited Partners shall not have any right to nominate candidates for election as Directors.

Section 15.2 Timely Notice. To be timely, a Limited Partner’s Nomination Notice must be delivered to or mailed and received by the Secretary of the Partnership at the principal executive offices of the Partnership not earlier than the opening of business on the one hundred twentieth (120^th) day prior to, and not later than the close of business on the ninetieth (90^th) day prior to, the first anniversary of the date on which the Partnership’s proxy statement for the immediately preceding annual meeting of Limited Partners was made available; provided, however, that, with respect to the annual meeting of Limited Partners held in 2017, a Limited Partner’s Nomination Notice must be delivered to or mailed and received by the Secretary of the Partnership at the principal executive offices of the Partnership no later than September 22, 2017, and no earlier than August 23, 2017; provided, further, that, in the event that the annual meeting is called for a date that is more than thirty (30) days earlier or more than sixty (60) days later than such first anniversary date, to be timely the Nomination Notice must be so received on the later of the close of business on the one hundred twentieth (120^th) day prior to the date of such annual meeting of Limited Partners or the tenth (10^th) day following the day on which public announcement of the date of such annual meeting is first made by the Partnership. In no event shall any adjournment or postponement of an annual meeting or the public announcement thereof commence a new time period (or extend any time period) for the giving of a Nomination Notice as described above. For purposes of this Section 15.2, “public announcement” shall mean

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disclosure in a press release reported by the Dow Jones News Services, Associated Press or comparable national news service, or in a document publicly filed by the Partnership with the Commission pursuant to Section 13, 14 or 15(d) of the Exchange Act and the rules and regulations promulgated thereunder, or posted on the Partnership’s website.

Section 15.3 Number of Nominees. The total number of Limited Partner Nominees (including Limited Partner Nominees who were submitted by an Eligible Limited Partner for inclusion in the Partnership’s proxy solicitation materials pursuant to this Article XV, but who are subsequently withdrawn or whom the Board of Directors decides to nominate as LP Elected Directors) eligible to appear in the Partnership’s proxy materials with respect to an annual meeting of Limited Partners shall not exceed four (4); provided that no Eligible Limited Partner (including, for the avoidance of doubt, any Group that collectively constitutes an Eligible Limited Partner in accordance with Section 15.5) shall be entitled to nominate more than two (2) LP Elected Directors. In the event that the number of Limited Partner Nominees submitted by all Eligible Limited Partners pursuant to this Article XV exceeds this maximum number, each Eligible Limited Partner will select one Limited Partner Nominee for inclusion in the Partnership’s proxy materials until the maximum number is reached, choosing in order of the amount (largest to smallest) of Units each Eligible Limited Partner disclosed as owned in its respective Nomination Notice submitted to the Partnership and confirmed by the Partnership. If the maximum number is not reached after each Eligible Limited Partner has selected one Limited Partner Nominee, this selection process will continue as many times as necessary, following the same order each time, until the maximum number is reached. In the event that two or more Eligible Limited Partners disclose ownership of the same number of Units, such Eligible Limited Partners will choose in the order of receipt of their respective Nomination Notice by the Secretary of the Partnership.

Section 15.4 Ownership Requirement for Eligibility to Make Nominations.

(a) For purposes of this Article XV, an Eligible Limited Partner shall be deemed to “own” only those Outstanding Common Units (including Series A Conversion Units and Common Units that have been issued upon exchange or conversion of Special Voting Units or upon conversion of Non-Voting Common Units) as to which the Limited Partner possesses both (i) the full voting and investment rights pertaining to the Common Units and (ii) the full economic interest in (including the opportunity for profit and risk of loss on) such Common Units; provided that the number of Common Units calculated in accordance with clauses (i) and (ii) shall not include any Common Units (A) sold by such Limited Partner or any of its Affiliates in any transaction that has not been settled or closed, (B) borrowed by such Limited Partner or any of its Affiliates for any purposes or purchased by such Limited Partner or any of its Affiliates pursuant to an agreement to resell or (C) subject to any option, warrant, forward contract, swap, contract of sale or other derivative or similar agreement entered into by such Limited Partner or any of its Affiliates, whether any such instrument or agreement is to be settled with Common Units or with cash based on the notional amount or value of Common Units, in any such case which instrument or agreement has, or is intended to have, the purpose or effect of (1) reducing in any manner, to any extent or at any time in the future, such Limited Partner’s or any of its Affiliate’s full right to vote or direct the voting of any such Common Units or (2) hedging, offsetting or altering to any degree gain or loss arising from the full economic interest in such Common Units by such Limited Partner or Affiliate.

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(b) A Limited Partner shall “own” Units held in the name of a nominee or other intermediary so long as the Limited Partner retains the right to instruct how the Units are voted on all matters, including with respect to the election of LP Elected Directors and possesses the full economic interest in the Units. A person’s ownership of Units shall be deemed to continue during any period in which (i) the person has loaned such Units, provided that the person has the power to recall such loaned Units on five (5) business days’ notice or (ii) the person has delegated any voting power by means of a proxy, power of attorney or other instrument or arrangement that is revocable at any time by the person. The terms “owned,” “owning” and other variations of the word “own” shall have correlative meanings. Whether Outstanding Units are “owned” for these purposes shall be determined by the Board of Directors, a committee thereof or an officer of the Partnership designated pursuant to Section 15.11, which determination shall be conclusive and binding on the Partnership and its Limited Partners, any Limited Partner Nominee and any other person.

Section 15.5 Ownership Amount and Period of Ownership.

(a) An Eligible Limited Partner must have owned (as ownership is defined above in Section 15.4) the Required Units continuously for the holding period set forth below that is opposite the year in which the applicable annual meeting is to be held, with the final date of such holding period ending as of a date that is at least seven (7) days prior to both (i) the date of the Nomination Notice and (ii) the Record Date for determining Limited Partners entitled to vote with respect to the election of LP Elected Directors at the annual meeting:



Annual Meeting of Limited Partners	Holding Period
2019	at least one (1) year;
2020	at least two (2) years;
2021 and following	at least three (3) years.

(b) For purposes of satisfying the foregoing ownership requirement under this Article XV, (i) the Common Units owned by one or more Limited Partners, or by the person or persons who own Common Units and on whose behalf any Limited Partner is acting, may be aggregated (provided that the number of Limited Partners and other persons whose ownership of Units may be aggregated for such purpose shall not exceed twenty (20)); (ii) a Group of funds under common management and investment control shall be treated as one Limited Partner or person for this purpose; and (iii) solely for purposes of satisfying the holding periods set forth in Section 15.5(a), (A) Series A Conversion Units shall be deemed to have been owned by such holder since the date on which such Series A Conversion Units were issued, (B) Common Units issued to a holder of Special Voting Units upon conversion or exchange of such Special Voting Units shall be deemed to have been owned by such holder since the date on which such holder first acquired such Special Voting Units so converted or exchanged, and (C) Common Units issued to a holder of Non-Voting Common Units upon conversion of such Non-Voting Common Units shall be deemed to have been owned by such holder since the date on which such holder first acquired such Non-Voting Common Units so converted. No person may be a member of

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more than one Group of persons constituting an Eligible Limited Partner under this Article XV, and each Group of persons constituting Eligible Limited Partners under this Article XV may not engage in the solicitation of proxies by or on behalf of another Group of persons constituting Eligible Limited Partners under this Article XV. For the avoidance of doubt, if a Group of Limited Partners aggregates ownership of Common Units in order to meet the requirements under this Article XV, all Common Units held by each Limited Partner constituting its contribution to the Required Units must be held by that Limited Partner continuously for at least the applicable period set forth in Section 15.5(a), and evidence satisfactory to the Partnership of such continuous ownership shall be provided.

(c) Within the time period specified in this Article XV for providing the Nomination Notice, an Eligible Limited Partner (including, for the avoidance of doubt, each Limited Partner that is a member of a Group that collectively constitutes an Eligible Limited Partner) must provide the following information in writing to the Secretary of the Partnership (in a form reasonably to be specified by the Secretary of the Partnership):

(i) one or more written statements from each Record Holder of the Common Units (and from each intermediary through which the Common Units are or have been held during the requisite holding period, as set forth in Section 15.5(a)) verifying that, as of a date within seven (7) days prior to the date of the Nomination Notice, the Eligible Limited Partner owns, and has owned continuously for the preceding requisite holding period, the Required Units, and the Eligible Limited Partner’s agreement to provide, within five (5) business days after the Record Date for the annual meeting, written statements from the Record Holder and intermediaries verifying the Eligible Limited Partner’s continuous ownership of the Required Units through the Record Date;

(ii) the written consent of each Limited Partner Nominee to being named in the proxy statement and proxy card as a nominee and to serving as a director if elected, together with the information and representations that would be required to be set forth in a Limited Partner’s request pursuant to Section 13.4(b);

(iii) a copy of the Schedule 14N (or any successor form or schedule) that has been filed with the Commission as required by Rule 14a-18 under the Exchange Act (or any successor rule or regulation);

(iv) a representation that the Eligible Limited Partner (including each member of any Group of holders of Units that together is an Eligible Limited Partner under this Article XV) (A) acquired the Required Units in the ordinary course of business and not with the intent to change or influence control of the Partnership, and does not presently have such intent, (B) has not nominated and will not nominate for election to the Board of Directors at the annual meeting any person other than the Limited Partner Nominee(s) being nominated pursuant to this Article XV, (C) has not engaged and will not engage in, and has not and will not be a “participant” in another person’s, “solicitation” within the meaning of Rule 14a-1(l) under the Exchange Act (or any successor rule or regulation), in support of the election of any individual as a director at the annual meeting other than its Limited Partner Nominee or a nominee of the Chief

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Executive Officer of the Partnership or the Board of Directors, (D) will not distribute to any Limited Partner any form of proxy for the annual meeting other than the form distributed by the Partnership and (E) in the case of a nomination by a Group of Limited Partners that together is an Eligible Limited Partner, the designation by all Group members of one Group member that is authorized to act on behalf of all such members with respect to the nomination and matters related thereto, including any withdrawal of the nomination; and

(v) an undertaking that the Eligible Limited Partner agrees to (A) own the Required Units through the date of the annual meeting, (B) assume all liability stemming from any legal or regulatory violation arising out of the Eligible Limited Partner’s communications with the Limited Partners or out of the information that the Eligible Limited Partner provided to the Partnership, (C) indemnify, defend and hold harmless the General Partner, the Partnership and their respective directors, officers, Affiliates and employees individually against any liability, loss or damages in connection with any threatened or pending action, suit or proceeding, whether legal, administrative or investigative, against the General Partner, the Partnership and their respective directors, officers, Affiliates or employees arising out of the Statement or any nomination, solicitation or other activity by the Eligible Limited Partner in connection with its efforts to elect the Limited Partner Nominee pursuant to this Article XV, (D) comply with all other laws and regulations applicable to any solicitation in connection with the annual meeting and (E) provide to the Partnership prior to the annual meeting such additional information as may be necessary or required with respect to (D) above.

Section 15.6 Eligible Limited Partner’s Statement; Partnership’s Statement. The Eligible Limited Partner may provide to the Secretary of the Partnership, at the time the information required by this Article XV is provided, a Statement. Notwithstanding anything to the contrary contained in this Article XV, the Partnership may omit from its proxy materials any information or Statement (or portion thereof) that it, in good faith, believes would violate any applicable law or regulation or be materially misleading or inappropriate. The Partnership may solicit against, and include in the Partnership’s proxy statement or any other solicitation materials its own statement opposing or otherwise relating to, any Limited Partner Nominee.

Section 15.7 Nominee Information and Representations. Within the time period specified in this Article XV for delivering the Nomination Notice, a Limited Partner Nominee must deliver to the Secretary of the Partnership, in a form reasonably to be specified by the Secretary of the Partnership, a written representation and agreement that the Limited Partner Nominee (a) is not and will not become a party to any agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or entity as to how such person, if elected as a director of the Partnership, will vote or otherwise act on any matter that has not been disclosed to the Partnership or any commitment that could interfere with the nominee’s ability to comply, if elected as a director of the Partnership, with such person’s duties under applicable law and this Agreement, (b) is not and will not become a party to any agreement, arrangement or understanding with any person or entity other than the Partnership with respect to any direct or indirect compensation, reimbursement or indemnification in connection with service or action as an LP

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Elected Director that has not been disclosed to the Partnership, (c) will act as a representative of all of the Limited Partners while serving as an LP Elected Director, (d) will provide statements and other information in all communications with and by the Partnership that are or will be true and correct in all material respects and shall not omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading and (e) will comply with all the Partnership’s governance, conflict of interest, confidentiality and stock ownership and trading policies and guidelines, and any other Partnership policies and guidelines applicable to Directors, as well as any applicable law, rule or regulation or listing standards of the National Securities Exchange upon which the Common Units are listed. At the request of the Partnership, the Limited Partner Nominee must submit all completed and signed questionnaires required of the Partnership’s Directors and officers. The Partnership may request such additional information as necessary to permit the Board of Directors, or a committee thereof or an officer of the Partnership designated pursuant to Section 15.11, to determine if each Limited Partner Nominee is independent under the Applicable Independence Standards and otherwise meets the criteria for non-employee directors, as set forth in any applicable policies of the Partnership, which determination shall be conclusive and binding on the Partnership and its Limited Partners, any Limited Partner Nominee and any other person. If the Board of Directors, a committee thereof or an officer of the Partnership designated pursuant to Section 15.11 determines that the Limited Partner Nominee is not independent under the Applicable Independence Standards or does not meet the criteria for non-employee directors, as set forth in the applicable policies of the Partnership, the Limited Partner Nominee will not be eligible for inclusion in the Partnership’s proxy materials. In the event that any information or communication provided by an Eligible Limited Partner or a Limited Partner Nominee ceases to be true and correct in all material respects or omits a material fact necessary to make the statements made, in light of circumstances under which they were made, not misleading, each Eligible Limited Partner or Limited Partner Nominee, as the case may be, shall promptly notify the Secretary of the Partnership of all defects in such previously provided information and of the information that is required to correct all such defects.

Section 15.8 Disqualification of Limited Partner Nominees. The Partnership shall not be required to include, pursuant to this Article XV, any Limited Partner Nominee in its proxy materials for any annual meeting (a) if the Eligible Limited Partner who has nominated such Limited Partner Nominee has engaged in or is currently engaged in, or has been or is a “participant” in another person’s, “solicitation” within the meaning of Rule 14a-1(l) under the Exchange Act (or any successor rule or regulation), in support of the election of any individual as a director at the meeting other than its Limited Partner Nominee(s) or a nominee of the Chief Executive Officer of the Partnership or the Board of Directors, (b) who is not independent under the Applicable Independence Standards, as determined by the Board of Directors, a committee thereof or an officer of the Partnership designated pursuant to Section 15.11, which determination shall be conclusive and binding on the General Partner, the Partnership, the Limited Partners, any Limited Partner Nominee and any other person, (c) whose election as a member of the Board of Directors would cause the Partnership to be in violation of this Agreement, the listing standards of the National Securities Exchange upon which the Common Units are listed, or any applicable law, rule or regulation, (d) who is an employee or director of a competitor or significant (or potentially significant) customer, supplier, contractor, counselor or consultant, (e) who is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses) or has been convicted in such a criminal proceeding within the past ten (10) years, (f) who is subject to any order, judgment, decree or other disqualification

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of the type specified in Rule 506(d) of Regulation D promulgated under the Securities Act (or any successor rule or regulation), (g) if such Limited Partner Nominee or the applicable Eligible Limited Partner shall have provided information to the Partnership with respect to such nomination that was untrue in any material respect or omitted to state a material fact necessary in order to make the statement made, in light of the circumstances under which it was made, not misleading, as determined by the Board of Directors, a committee thereof or an officer of the Partnership designated pursuant to Section 15.11, which determination shall be conclusive and binding on the Partnership and its Partners, any Limited Partner Nominee and any other person, (h) who is a director or officer of any public utility company or other entity regulated by the Federal Energy Regulatory Commission or the Public Utilities Commission of Texas, (i) whose then-current business or personal interests place the Limited Partner Nominee in a conflict of interest with the Partnership or any of its Subsidiaries or Affiliates or (j) if the Eligible Limited Partner or applicable Limited Partner Nominee otherwise contravenes any of the agreements or representations made by such Eligible Limited Partner or Limited Partner Nominee or otherwise fails to comply with its obligations pursuant to this Article XV.

Section 15.9 Effect of Breach of Agreements. Notwithstanding anything to the contrary set forth in this Article XV, the Board of Directors, a committee thereof, an officer of the Partnership designated pursuant Section 15.11 or the person presiding at the meeting shall declare a nomination by an Eligible Limited Partner to be invalid, which determination shall be conclusive and binding on the General Partner, the Partnership, the Limited Partners, any Limited Partner Nominee and any other person, and such nomination shall be disregarded notwithstanding that proxies may have been received by the Partnership that cast votes “for” the election of such Eligible Limited Partner’s Limited Partner Nominee(s), if (a) the Limited Partner Nominee(s) or the applicable Eligible Limited Partner shall have breached his or its obligations, agreements or representations contemplated under this Article XV, as determined by the Board of Directors, a committee thereof, an officer of the Partnership designated pursuant to Section 15.11 or the person presiding at the annual meeting of Limited Partners or (b) the Eligible Limited Partner (or a qualified representative thereof) does not appear at the annual meeting of Limited Partners to present any nomination pursuant to this Article XV.

Section 15.10 Obligation to File Soliciting and Communication Materials. The Eligible Limited Partner (including any person who owns Common Units that constitute part of the Eligible Limited Partner’s ownership for purposes of satisfying Section 15.5) shall file with the Commission any solicitation materials or other communication with the Partnership’s Limited Partners relating to the annual meeting at which the Limited Partner Nominee will be nominated, regardless of whether (a) any filing of such materials or other communication is required under Regulation 14A of the Exchange Act (or any successor regulation) or (b) any exemption from filing is available for such materials or other communication under Regulation 14A of the Exchange Act (or any such successor rule or regulation).

Section 15.11 Authority for Implementation. Any determination to be made with respect to the satisfaction of any term or condition of this Article XV, or the resolution of any dispute with respect thereto, shall be made by the Board of Directors, a committee thereof or any officer designated by the Board of Directors or a committee thereof, and any such determination or resolution shall be final and binding on the Partnership, any Eligible Limited Partner, any Limited Partner Nominee and any other Person so long as made in good faith (without any

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further requirements). Without limiting the generality of the foregoing, if the Board of Directors determines that the effect of the requirements set forth in Article XV with respect to a particular annual meeting of Limited Partners, or any other aspect of an annual meeting of Limited Partners, is such that it is reasonably likely that no two holders of Common Units acting individually (and no two separate Groups of such holders) could each qualify as an Eligible Limited Partner, then the Board of Directors shall waive or modify such requirements with respect to such annual meeting of Limited Partners to make it reasonably likely, as determined by the Board of Directors in good faith, that at least two holders of Common Units (or at least two Groups of such holders) could each qualify as an Eligible Limited Partner for the relevant annual meeting of Limited Partners. The person presiding at the annual meeting of Limited Partners, in addition to making any other determinations that may be appropriate to the conduct of the meeting, shall have the power and duty to determine whether a Limited Partner Nominee has been nominated in accordance with the provisions of this Article XV and, if not so nominated, shall direct and declare at the meeting that such Limited Partner Nominee shall not be considered for election as an LP Elected Director at the meeting.

ARTICLE XVI

GENERAL PROVISIONS

Section 16.1 Addresses and Notices; Written Communications.

(a) Any notice, demand, request, report or proxy materials required or permitted to be given or made to a Partner under this Agreement shall be in writing and shall be deemed given or made when delivered in person or when sent by first class United States mail or by other means of written communication to the Partner at the address described below. Except as otherwise provided herein, any notice, payment or report to be given or made to a Partner hereunder shall be deemed conclusively to have been given or made, and the obligation to give such notice or report or to make such payment shall be deemed conclusively to have been fully satisfied, upon sending of such notice, payment or report to the Record Holder of such Partnership Interests at his address as shown in the Register, regardless of any claim of any Person who may have an interest in such Partnership Interests by reason of any assignment or otherwise. An affidavit or certificate of making of any notice, payment or report in accordance with the provisions of this Section 16.1 executed by the Partnership, the Transfer Agent or the mailing organization shall be prima facie evidence of the giving or making of such notice, payment or report. If any notice, payment or report addressed to a Record Holder at the address of such Record Holder appearing in the Register is returned by the United States Postal Service marked to indicate that the United States Postal Service is unable to deliver it, such notice, payment or report and any subsequent notices, payments and reports shall be deemed to have been duly given or made without further mailing (until such time as such Record Holder or another Person notifies the Transfer Agent or the Partnership of a change in his address) if they are available for the Partner at the principal office of the Partnership for a period of one year from the date of the giving or making of such notice, payment or report to the other Partners. Any notice to the Partnership shall be deemed given if received by the Partnership at the principal office of the Partnership designated pursuant to Section 2.3; provided that when a different notice address is provided herein, such notice shall be deemed given if received at such

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other address. The Partnership may rely and shall be protected in relying on any notice or other document from a Partner or other Person if believed by it to be genuine.

(b) The terms “in writing,” “written communications,” “written notice” and words of similar import shall be deemed satisfied under this Agreement by use of e-mail and other forms of electronic communication.

(c) Further Action. The parties shall execute and deliver all documents, provide all information and take or refrain from taking action as may be necessary or appropriate to achieve the purposes of this Agreement.

Section 16.2 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted assigns.

Section 16.3 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 16.4 Creditors. None of the provisions of this Agreement shall be for the benefit of, or shall be enforceable by, any creditor of the Partnership.

Section 16.5 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 of any other covenant, duty, agreement or condition.

Section 16.6 Third-Party Beneficiaries. Each Partner agrees that (a) any Indemnitee shall be entitled to assert rights and remedies hereunder as a third-party beneficiary hereto with respect to those provisions of this Agreement affording a right, benefit or privilege to such Indemnitee and (b) any Unrestricted Person shall be entitled to assert rights and remedies hereunder as a third-party beneficiary hereto with respect to those provisions of this Agreement affording a right, benefit or privilege to such Unrestricted Person.

Section 16.7 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. Each party shall become bound by this Agreement immediately upon affixing its signature hereto or, in the case of a Person acquiring a Limited Partner Interest, pursuant to Section 10.1(a) without execution hereof.

Section 16.8 Applicable Law; Forum; Venue and Jurisdiction; Waiver of Trial by Jury.

(a) This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware, without regard to the principles of conflicts of law.

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(b) Each of the Partners and each Person or Group holding any beneficial interest in the Partnership (whether through a broker, dealer, bank, trust company or clearing corporation or an agent of any of the foregoing or otherwise):

(i) irrevocably agrees that any claims, suits, actions or proceedings (A) arising out of or relating in any way to this Agreement (including any claims, suits or actions to interpret, apply or enforce the provisions of this Agreement or the duties, obligations or liabilities among Partners or of Partners to the Partnership, or the rights or powers of, or restrictions on, the Partners or the Partnership), (B) brought in a derivative manner on behalf of the Partnership, (C) asserting a claim of breach of a duty (including a fiduciary duty) owed by any director, officer or other employee of the Partnership or the General Partner, or owed by the General Partner, to the Partnership or the Partners, (D) asserting a claim arising pursuant to any provision of the Delaware Act or (E) asserting a claim governed by the internal affairs doctrine shall be exclusively brought in the Court of Chancery of the State of Delaware, in each case regardless of whether such claims, suits, actions or proceedings sound in contract, tort, fraud or otherwise, are based on common law, statutory, equitable, legal or other grounds, or are derivative or direct claims;

(ii) irrevocably submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware in connection with any such claim, suit, action or proceeding;

(iii) agrees not to, and waives any right to, assert in any such claim, suit, action or proceeding that (A) it is not personally subject to the jurisdiction of the Court of Chancery of the State of Delaware or of any other court to which proceedings in the Court of Chancery of the State of Delaware may be appealed, (B) such claim, suit, action or proceeding is brought in an inconvenient forum or (C) the venue of such claim, suit, action or proceeding is improper;

(iv) expressly waives any requirement for the posting of a bond by a party bringing such claim, suit, action or proceeding; and

(v) consents to process being served in any such claim, suit, action or proceeding by mailing, certified mail, return receipt requested, a copy thereof to such party at the address in effect for notices hereunder, and agrees that such services shall constitute good and sufficient service of process and notice thereof; provided, nothing in clause (v) hereof shall affect or limit any right to serve process in any other manner permitted by law.

Section 16.9 Invalidity of Provisions. If any provision or part of a provision of this Agreement is or becomes for any reason, invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions, or parts thereof, contained herein shall not be affected thereby and this Agreement shall, to the fullest extent permitted by law, be reformed and construed as if such invalid, illegal or unenforceable provision, or part of a provision, had never been contained herein, and any such provision or part shall be reformed so that it would be valid, legal and enforceable to the maximum extent possible.

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Section 16.10 Consent of Partners. Each Partner hereby expressly consents and agrees that, whenever in this Agreement it is specified that an action may be taken upon the affirmative vote or consent of less than all of the Partners, such action may be so taken upon the concurrence of less than all of the Partners and each Partner shall be bound by the results of such action.

Section 16.11 Facsimile and Email Signatures. The use of facsimile signatures and signatures delivered by email in portable document (.pdf) or similar format affixed in the name and on behalf of the Transfer Agent of the Partnership on certificates representing Common Units or Non-Voting Common Units is expressly permitted by this Agreement.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]

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



GENERAL PARTNER:

NEXTERA ENERGY PARTNERS GP, INC.


By:
	Name: Title:

[Signature Page to Fifth Amended and Restated Agreement of Limited Partnership]

EXHIBIT A

to the Fifth Amended and Restated

Agreement of Limited Partnership of

NextEra Energy Partners, LP

Certificate Evidencing Common Units

Representing Limited Partner Interests in

NextEra Energy Partners, LP



No.		Common Units

In accordance with Section 4.1 of the Fifth Amended and Restated Agreement of Limited Partnership of NextEra Energy Partners, LP, as amended, supplemented or restated from time to time (the “Partnership Agreement”), NextEra Energy Partners, LP, a Delaware limited partnership (the “Partnership”), hereby certifies that (the “Holder”) is the registered owner of Common Units representing limited partner interests in the Partnership (the “Common Units”) transferable on the books of the Partnership, in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed. The rights, preferences and limitations of the Common Units are set forth in, and this Certificate and the Common Units represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Partnership Agreement. Copies of the Partnership Agreement are on file at, and will be furnished without charge on delivery of written request to the Partnership at, the principal office of the Partnership located at 700 Universe Boulevard, Juno Beach, Florida 33408. Capitalized terms used herein but not defined shall have the meanings given them in the Partnership Agreement.

THE HOLDER OF THIS SECURITY ACKNOWLEDGES FOR THE BENEFIT OF NEXTERA ENERGY PARTNERS, LP THAT THIS SECURITY MAY NOT BE TRANSFERRED IF SUCH TRANSFER (AS DEFINED IN THE PARTNERSHIP AGREEMENT) WOULD (A) VIOLATE THE THEN APPLICABLE FEDERAL OR STATE SECURITIES LAWS OR RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER GOVERNMENTAL AUTHORITY WITH JURISDICTION OVER SUCH TRANSFER OR (B) TERMINATE THE EXISTENCE OR QUALIFICATION OF NEXTERA ENERGY PARTNERS, LP UNDER THE LAWS OF THE STATE OF DELAWARE. THIS SECURITY MAY BE SUBJECT TO ADDITIONAL RESTRICTIONS ON ITS TRANSFER PROVIDED IN THE PARTNERSHIP AGREEMENT. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS SECURITY TO THE SECRETARY OF THE GENERAL PARTNER AT THE PRINCIPAL OFFICE OF THE PARTNERSHIP. THE RESTRICTIONS SET FORTH ABOVE SHALL NOT PRECLUDE THE SETTLEMENT OF ANY TRANSACTIONS INVOLVING THIS SECURITY ENTERED INTO THROUGH THE FACILITIES OF ANY NATIONAL SECURITIES EXCHANGE ON WHICH THIS SECURITY IS LISTED OR ADMITTED TO TRADING.

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The Holder, by accepting this Certificate, is deemed to have (i) requested admission as, and agreed to become, a Limited Partner and to have agreed to comply with and be bound by and to have executed the Partnership Agreement, (ii) represented and warranted that the Holder has all right, power and authority and, if an individual, the capacity necessary to enter into the Partnership Agreement and (iii) made the waivers and given the consents and approvals contained in the Partnership Agreement.

This Certificate shall not be valid for any purpose unless it has been countersigned and registered by the Transfer Agent. This Certificate shall be governed by and construed in accordance with the laws of the State of Delaware



Dated:				NEXTERA ENERGY PARTNERS, LP


		By:		NextEra Energy Partners GP, Inc.

			By:

			By:

Countersigned and Registered by:

Computershare Trust Company, N.A.

as Transfer Agent and Registrar

By:
	Authorized Signature

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[Reverse of Certificate]

ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as follows according to applicable laws or regulations:



TEN COM-as tenants in common	UNIF GIFT TRANSFERS MIN ACT

TEN ENT-as tenants by the entireties	Custodian

	(Cust)	(Minor)

JT TEN- as joint tenants with right of survivorship and not as tenants in common

Additional abbreviations, though not in the above list, may also be used.

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ASSIGNMENT OF COMMON UNITS OF

NEXTERA ENERGY PARTNERS, LP



FOR VALUE RECEIVED,		hereby assigns, conveys, sells and transfers unto





(Please print or typewrite name and address of assignee)		(Please insert Social Security or other identifying number of assignee)

Common Units representing limited partner interests evidenced by this Certificate, subject to the Partnership Agreement, and does hereby irrevocably constitute and appoint as its attorney-in-fact with full power of substitution to transfer the same on the books of NextEra Energy Partners, LP.



Date:
			NOTE: The signature to any endorsement hereon must correspond with the name as written upon the face of this Certificate in every particular, without alteration, enlargement or change.

			(Signature)

			(Signature)
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15

No transfer of the Common Units evidenced hereby will be registered on the books of the Partnership, unless the Certificate evidencing the Common Units to be transferred is surrendered for registration or transfer.

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EXHIBIT B

to the Fifth Amended and Restated Agreement of

Limited Partnership of NextEra Energy Partners, LP

Certificate Evidencing Series A Preferred Units

Representing Limited Partner Interests in

NextEra Energy Partners, LP

No. _________________________ Series A Preferred Units _________________

In accordance with Section 4.1 of the Fifth Amended and Restated Agreement of Limited Partnership of NextEra Energy Partners, LP, as amended, supplemented or restated from time to time (the “Partnership Agreement”), NextEra Energy Partners, LP, a Delaware limited partnership (the “Partnership”), hereby certifies that _______________ (the “Holder”) is the registered owner of Series A Preferred Units representing limited partner interests in the Partnership (the “Series A Preferred Units”) transferable on the books of the Partnership, in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed, subject to certain restrictions. The rights, preferences and limitations of the Series A Preferred Units are set forth in, and this Certificate and the Series A Preferred Units represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Partnership Agreement. Copies of the Partnership Agreement are on file at, and will be furnished without charge on delivery of written request to the Partnership at, the principal office of the Partnership located at 700 Universe Boulevard, Juno Beach, Florida 33408. Capitalized terms used herein but not defined shall have the meanings given them in the Partnership Agreement.

THE SERIES A PREFERRED UNITS (ALSO REFERRED TO AS “THIS SECURITY”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SERIES A PREFERRED UNITS MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER AND, IN THE CASE OF A TRANSACTION EXEMPT FROM REGISTRATION, NEXTERA ENERGY PARTNERS, LP HAS RECEIVED AN OPINION OF COUNSEL OR SUCH OTHER DOCUMENTATION SATISFACTORY TO IT THAT SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER SUCH ACT.

THE HOLDER OF THIS SECURITY ACKNOWLEDGES FOR THE BENEFIT OF NEXTERA ENERGY PARTNERS, LP THAT THIS SECURITY MAY NOT BE TRANSFERRED IF SUCH TRANSFER (AS DEFINED IN THE PARTNERSHIP AGREEMENT) WOULD (A) VIOLATE THE THEN APPLICABLE FEDERAL OR STATE SECURITIES LAWS OR RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER GOVERNMENTAL AUTHORITY WITH JURISDICTION OVER SUCH TRANSFER; (B) TERMINATE THE EXISTENCE OR QUALIFICATION OF NEXTERA ENERGY PARTNERS, LP UNDER THE LAWS OF THE STATE OF DELAWARE; OR (C) VIOLATE THE TRANSFER RESTRICTIONS TO WHICH THE SECURITIES ARE SUBJECT PURSUANT TO SECTIONS 5.8 AND 4.7 OF THE PARTNERSHIP AGREEMENT OR SECTION 5.4 OF THE SERIES A PREFERRED UNIT PURCHASE AGREEMENT DATED JUNE 20, 2017. THIS SECURITY MAY BE SUBJECT TO ADDITIONAL RESTRICTIONS ON ITS TRANSFER PROVIDED IN THE PARTNERSHIP AGREEMENT. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS SECURITY TO THE SECRETARY OF THE GENERAL PARTNER AT THE PRINCIPAL OFFICE OF THE PARTNERSHIP.

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and authority and, if an individual, the capacity necessary to enter into the Partnership Agreement, and (iii) made the waivers and given the consents and approvals contained in the Partnership Agreement.

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Dated:			NEXTERA ENERGY PARTNERS, LP

		By:	NextEra Energy Partners GP, Inc., its
			General Partner
		By:
		By:

Countersigned and Registered by:
Computershare Trust Company, N.A.
as Transfer Agent and Registrar

By:
	Authorized Signature

[Reverse of Certificate]

ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as follows according to applicable laws or regulations:



TEN COM-as tenants in common	UNIF GIFT TRANSFERS MIN ACT

TEN ENT-as tenants by the entireties	Custodian

	(Cust)	(Minor)

JT TEN- as joint tenants with right of survivorship and not as tenants in common

Additional abbreviations, though not in the above list, may also be used.

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ASSIGNMENT OF SERIES A PREFERRED UNITS OF

NEXTERA ENERGY PARTNERS, LP



FOR VALUE RECEIVED,		hereby assigns, conveys, sells and transfers unto




(Please print or typewrite name and address of assignee)		(Please insert Social Security or other identifying number of assignee)

_____________ Series A Preferred Units representing limited partner interests evidenced by this Certificate, subject to the Partnership Agreement, and does hereby irrevocably constitute and appoint _________________ as its attorney-in-fact with full power of substitution to transfer the same on the books of NextEra Energy Partners, LP.



Date:	NOTE: The signature to any endorsement hereon must correspond with the name as written upon the face of this Certificate in every particular, without alteration, enlargement or change.

		(Signature)

		(Signature)

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

No transfer of the Series A Preferred Units evidenced hereby will be registered on the books of the Partnership, unless the Certificate evidencing the Series A Preferred Units to be transferred is surrendered for registration or transfer.

B-4

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EXHIBIT C

to the Fifth Amended and Restated Agreement of

Limited Partnership of NextEra Energy Partners, LP

Restrictions on Transfer of Series A Preferred Units

THE HOLDER OF THIS SECURITY ACKNOWLEDGES FOR THE BENEFIT OF NEXTERA ENERGY PARTNERS, LP THAT THIS SECURITY MAY NOT BE TRANSFERRED IF SUCH TRANSFER (AS DEFINED IN THE PARTNERSHIP AGREEMENT) WOULD (A) VIOLATE THE THEN APPLICABLE FEDERAL OR STATE SECURITIES LAWS OR RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER GOVERNMENTAL AUTHORITY WITH JURISDICTION OVER SUCH TRANSFER; (B) TERMINATE THE EXISTENCE OR QUALIFICATION OF NEXTERA ENERGY PARTNERS, LP UNDER THE LAWS OF THE STATE OF DELAWARE; OR (C) VIOLATE THE TRANSFER RESTRICTIONS TO WHICH THE SECURITIES ARE SUBJECT PURSUANT TO SECTIONS 5.8 AND 4.7 OF THE PARTNERSHIP AGREEMENT OR SECTION 5.4 OF THE SERIES A PREFERRED UNIT PURCHASE AGREEMENT DATED JUNE 20, 2017. THIS SECURITY MAY BE SUBJECT TO ADDITIONAL RESTRICTIONS ON ITS TRANSFER PROVIDED IN THE PARTNERSHIP AGREEMENT. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS SECURITY TO THE SECRETARY OF THE GENERAL PARTNER AT THE PRINCIPAL OFFICE OF THE PARTNERSHIP.

C-1

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EXHIBIT D

to the Fifth Amended and Restated Agreement of

Limited Partnership of NextEra Energy Partners, LP

Certificate Evidencing Non-Voting Common Units

Representing Limited Partner Interests in

NextEra Energy Partners, LP

No. _________________________ Non-Voting Common Units _________________

In accordance with Section 4.1 of the Fifth Amended and Restated Agreement of Limited Partnership of NextEra Energy Partners, LP, as amended, supplemented or restated from time to time (the “Partnership Agreement”), NextEra Energy Partners, LP, a Delaware limited partnership (the “Partnership”), hereby certifies that _______________ (the “Holder”) is the registered owner of Non-Voting Common Units representing limited partner interests in the Partnership (the “Non-Voting Common Units”) transferable on the books of the Partnership, in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed, subject to certain restrictions. The rights, preferences and limitations of the Non-Voting Common Units are set forth in, and this Certificate and the Non-Voting Common Units represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Partnership Agreement. Copies of the Partnership Agreement are on file at, and will be furnished without charge on delivery of written request to the Partnership at, the principal office of the Partnership located at 700 Universe Boulevard, Juno Beach, Florida 33408. Capitalized terms used herein but not defined shall have the meanings given them in the Partnership Agreement.

THE NON-VOTING COMMON UNITS (ALSO REFERRED TO AS “THIS SECURITY”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE NON-VOTING COMMON UNITS MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER AND, IN THE CASE OF A TRANSACTION EXEMPT FROM REGISTRATION, NEXTERA ENERGY PARTNERS, LP HAS RECEIVED AN OPINION OF COUNSEL OR SUCH OTHER DOCUMENTATION SATISFACTORY TO IT THAT SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER SUCH ACT.

THE HOLDER OF THIS SECURITY ACKNOWLEDGES FOR THE BENEFIT OF NEXTERA ENERGY PARTNERS, LP THAT THIS SECURITY MAY NOT BE TRANSFERRED IF SUCH TRANSFER (AS DEFINED IN THE PARTNERSHIP AGREEMENT) WOULD (A) VIOLATE THE THEN APPLICABLE FEDERAL OR STATE SECURITIES LAWS OR RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER GOVERNMENTAL AUTHORITY WITH JURISDICTION OVER SUCH TRANSFER; (B) TERMINATE THE EXISTENCE OR QUALIFICATION OF NEXTERA ENERGY PARTNERS, LP UNDER THE LAWS OF THE STATE OF DELAWARE; OR (C) VIOLATE THE TRANSFER RESTRICTIONS TO WHICH THE SECURITIES ARE SUBJECT PURSUANT TO SECTION 4.7 OF THE PARTNERSHIP AGREEMENT. THIS SECURITY MAY BE SUBJECT TO ADDITIONAL RESTRICTIONS ON ITS TRANSFER PROVIDED IN THE PARTNERSHIP AGREEMENT. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS SECURITY TO THE SECRETARY OF THE GENERAL PARTNER AT THE PRINCIPAL OFFICE OF THE PARTNERSHIP.

Exhibit D-1

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Exhibit D-2

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Dated:			NEXTERA ENERGY PARTNERS, LP

		By:	NextEra Energy Partners GP, Inc., its
			General Partner
		By:
		By:

Countersigned and Registered by:
Computershare Trust Company, N.A.
as Transfer Agent and Registrar

By:
	Authorized Signature

[Reverse of Certificate]

ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as follows according to applicable laws or regulations:



TEN COM-as tenants in common	UNIF GIFT TRANSFERS MIN ACT

TEN ENT-as tenants by the entireties	Custodian

	(Cust)	(Minor)

JT TEN- as joint tenants with right of survivorship and not as tenants in common

Additional abbreviations, though not in the above list, may also be used.

Exhibit D-3

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ASSIGNMENT OF SERIES A PREFERRED UNITS OF

NEXTERA ENERGY PARTNERS, LP



FOR VALUE RECEIVED,		hereby assigns, conveys, sells and transfers unto




(Please print or typewrite name and address of assignee)		(Please insert Social Security or other identifying number of assignee)

_____________ Series A Preferred Units representing limited partner interests evidenced by this Certificate, subject to the Partnership Agreement, and does hereby irrevocably constitute and appoint _________________ as its attorney-in-fact with full power of substitution to transfer the same on the books of NextEra Energy Partners, LP.



Date:	NOTE: The signature to any endorsement hereon must correspond with the name as written upon the face of this Certificate in every particular, without alteration, enlargement or change.

		(Signature)

		(Signature)

Exhibit D-4

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FORM OF

NEXTERA ENERGY PARTNERS, LP

AND

GEPIF III MEADE INVESTCO, L.P.

REGISTRATION RIGHTS AGREEMENT

Dated as of [•], 2019

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TABLE OF CONTENTS
		Page
ARTICLE I DEFINITIONS

Section 1.01	Definitions	1
Section 1.02	Registrable Securities	4

ARTICLE II REGISTRATION RIGHTS

Section 2.01	Shelf Registration	5
Section 2.02	Further Obligations	6
Section 2.03	Cooperation by Holders	8
Section 2.04	Expenses	9
Section 2.05	Indemnification	9
Section 2.06	Rule 144 Reporting	11
Section 2.07	Transfer or Assignment of Registration Rights	12

ARTICLE III MISCELLANEOUS

Section 3.01	Communications	12
Section 3.02	Binding Effect	13
Section 3.03	Assignment of Rights	13
Section 3.04	Recapitalization Exchanges, etc. Affecting Units	13
Section 3.05	Aggregation of Registrable Securities	13
Section 3.06	Specific Performance	13
Section 3.07	Counterparts	14
Section 3.08	Governing Law, Submission to Jurisdiction	14
Section 3.09	Waiver of Jury Trial	14
Section 3.10	Entire Agreement	14
Section 3.11	Amendment	15
Section 3.12	No Presumption	15
Section 3.13	Obligations Limited to Parties to Agreement	15
Section 3.14	Interpretation	15

Schedule A	Contact Information; Address for Notices to Investor or Any Other Holder

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REGISTRATION RIGHTS AGREEMENT

This REGISTRATION RIGHTS AGREEMENT, dated as of [•], 2019 (this “Agreement”), is entered into by and among NextEra Energy Partners, LP, a Delaware limited partnership (the “Partnership”) and GEPIF III Meade Investco, L.P., a Delaware limited partnership (“Investor”).

RECITALS

WHEREAS, this Agreement is made in connection with the closing of the transactions contemplated by that certain Membership Interest Purchase Agreement, dated as of September 29, 2019, by and among NextEra Energy Partners Pipelines, LLC, a Delaware limited liability company (the “Company”), the Partnership, NextEra Energy Partners Pipelines Holdings, LLC, a Delaware limited liability company (the “NEP Member”), and Investor, as the Class B Purchaser named therein (the “Purchase Agreement”); and

WHEREAS, the Partnership has agreed to provide the registration rights set forth in this Agreement for the benefit of Investor, as the Class B Purchaser, pursuant to the Purchase Agreement.

ARTICLE I

DEFINITIONS

Section 1.01 Definitions. As used in this Agreement, the following terms have the meanings in this Section 1.01:

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the Person in question. As used herein, the term “control” (including, with correlative meanings, “controlled by” and “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract, or otherwise. For the avoidance of doubt, for purposes of this Agreement, (a) the Partnership, on the one hand, and Investor, on the other, shall not be considered Affiliates; and (b) any fund or account managed, advised, or subadvised, directly or indirectly, by Investor or any of its Affiliates shall be considered an Affiliate of Investor.

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

“Average VWAP” per Common Unit over a certain period shall mean the arithmetic average of the VWAP per Common Unit for each Trading Day in such period.

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“Business Day” means any day other than a Saturday, Sunday, any federal legal holiday, or any day on which banking institutions in the State of New York or Florida are authorized or required by law or other governmental action to close.

“Call Option” means the Call Option as defined in the Company LLC Agreement.

“Call Option Notice” means the Call Option Notice as defined in the Company LLC Agreement.

“Change of Control” means a Change of Control as defined in the Company LLC Agreement.

“Class B COC Option” means the Class B COC Option as defined in the Company LLC Agreement.

“Class B Units” means the Class B Units as defined in the Company LLC Agreement.

“Commission” means the United States Securities and Exchange Commission.

“Common Units” means the interests of limited partners in the Partnership having the rights and obligations specified with respect to “Common Units,” as that term is used and defined in the Partnership Agreement.

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

“Company LLC Agreement” means that certain Amended and Restated Limited Liability Company Agreement of the Company, dated as of [•], 2019, as may be amended, supplemented, or modified from time to time in accordance with the terms thereof.

“Effective Date” means the date of effectiveness of the Registration Statement.

“Effectiveness Period” has the meaning set forth in Section 2.01(a)(ii).

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the Commission promulgated thereunder.

“General Partner” means NextEra Energy Partners GP, Inc., a Delaware corporation, and its successors and permitted assigns that are admitted to the Partnership as the general partner thereof, in their capacity as general partner of the Partnership.

“Holder” means a record holder of any Registrable Securities.

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

“Losses” has the meaning set forth in Section 2.05(a).

“National Securities Exchange” means an exchange registered with the Commission under Section 6(a) of the Exchange Act (or any successor to such Section) and any other securities exchange (whether or not registered with the Commission under Section 6(a) (or

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successor to such Section) of the Exchange Act) that the Partnership shall designate as a National Securities Exchange for purposes of this Agreement.

“NEP Change of Control Option” means the NEP Change of Control Option as defined in the Company LLC Agreement.

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

“Non-Voting NEP Common Units” means the non-voting common units of the Partnership that have the same economic rights as the Common Units but no voting rights on any matter whatsoever, shall not be listed on any National Securities Exchange, and are issuable upon exercise of the Call Option, the NEP Change of Control Option, or the Class B COC Option pursuant to and in accordance with the terms of the Company LLC Agreement and the Partnership Agreement.

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

“Partnership Agreement” means that certain Fifth Amended and Restated Agreement of Limited Partnership of NextEra Energy Partners, LP, dated as of [•], 2019, by and among NextEra Energy Partners GP, Inc., a Delaware corporation, as the General Partner, and NextEra Energy Equity Partners, LP, a Delaware limited partnership, together with the other partners that are parties thereto, as may be amended, supplemented, or modified from time to time in accordance with the terms thereof.

“Person” means any individual, corporation, company, voluntary association, partnership, joint venture, trust, limited liability company, unincorporated organization, government (or any agency, instrumentality, or political subdivision thereof), or any other form of entity.

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

“Registrable Securities” means all Common Units issuable upon conversion of Non-Voting NEP Common Units pursuant to the Company LLC Agreement and the Partnership Agreement, all of which Common Units shall be subject to the rights provided herein until such time as such securities cease to be Registrable Securities pursuant to Section 1.02.

“Registration” means a registration pursuant to the Registration Statement.

“Registration Expenses” has the meaning set forth in Section 2.04(a).

“Registration Statement” means the registration statement filed with the Commission by the Partnership registering Registrable Securities pursuant to the terms of this Agreement.

“Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations of the Commission promulgated thereunder.

“Selling Holder” means a Holder who is selling Registrable Securities pursuant to the Registration Statement.

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“Selling Holder Indemnified Persons” has the meaning set forth in Section 2.05(a).

“Specified Transferee” has the meaning set forth in Section 2.07.

“Target Effective Date” means the earlier to occur of the following: (a) the first date on which a Call Option Notice is delivered by the NEP Member in accordance with Section 7.02 of the Company LLC Agreement and (b) thirty (30) days after the announcement of a Change of Control with respect to Investor.

“Trading Day” means a day on which the principal National Securities Exchange on which the Common Units are listed or admitted to trading is open for the transaction of business or, if such Common Units are not listed or admitted to trading on any National Securities Exchange, a day on which banking institutions in New York City generally are open.

Section 1.02 Registrable Securities. Except as otherwise specifically provided herein, a Registrable Security will cease to be a Registrable Security under this Agreement upon the earliest to occur of the following: (a) when the Registration Statement covering such Registrable Security becomes or has been declared effective by the Commission and such Registrable Security has been sold or disposed of pursuant to such effective Registration Statement, (b) when such Registrable Security has been disposed of (excluding transfers or assignments by a Holder to a Specified Transferee to whom the rights under this Agreement have been transferred pursuant to Section 2.07) pursuant to any transaction exempt from registration pursuant to Rule 144 (or any similar provision then in effect) under the Securities Act, (c) when such Registrable Security is held by the Partnership or one of its Affiliates, and (d) when such Registrable Security has been sold or disposed of in a private transaction in which the Holder’s rights under this Agreement are not assigned to a Specified Transferee of such securities pursuant to Section 2.07. The provisions of this Section 1.02 do not modify the transfer restrictions applicable to Holders under the Partnership Agreement.

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ARTICLE II

REGISTRATION RIGHTS

Section 2.01 Shelf Registration.

(a) Shelf Registration Statement.

(i) The Partnership shall use its commercially reasonable efforts to (A) prepare and file a Registration Statement to permit the public resale of the Registrable Securities on a continuous basis pursuant to Rule 415 of the Securities Act, or such other rule as is then applicable, at then prevailing prices and (B) cause such Registration Statement to become effective no later than the Target Effective Date. In no event may the resales by the Selling Holders take the form of an underwritten offering of Registrable Securities without the prior written agreement of the Partnership.

(ii) The Partnership will use its commercially reasonable efforts to cause the Registration Statement filed pursuant to Section 2.01(a) to be continuously effective under the Securities Act, with respect to any Holder, until the earliest to occur of the following: (A) the date on which (1) there are no longer any Registrable Securities outstanding and (2) there are no additional Registrable Securities that could be issued pursuant to the Partnership Agreement and one or more exercises of the Call Option or Class B COC Option, and (B) the earlier to occur of (1) [•], 2019,¹or (2) the third (3^rd) anniversary of the date on which the Partnership shall have acquired, pursuant to one or more exercises of the Call Option or Class B COC Option, or otherwise, all of the Class B Units issued to Investor at the closing of the Purchase Agreement (the “Effectiveness Period”). The Registration Statement filed pursuant to Section 2.01(a) shall be on such appropriate registration form of the Commission as shall be selected by the Partnership; provided that, if the Partnership is then eligible, it shall file the Registration Statement on Form S-3. The Registration Statement when declared effective (including the documents incorporated therein by reference) shall comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading (and, in the case of any prospectus contained in such Registration Statement, in the light of the circumstances under which a statement is made). The plan of distribution indicated in the Registration Statement will include all such methods of sale as a Holder may reasonably request in writing at least five (5) Business Days prior to the filing of the Registration Statement and that can be included in the Registration Statement under the rules and regulations of the Commission. As soon as practicable following the date that the Registration Statement becomes

¹ NTD - To be the date that is 114 months (9.5 years) following the date of this Agreement.

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effective, but in any event within three (3) Business Days of such date, the Partnership shall provide the Holders with written notice of the effectiveness of the Registration Statement.

(b) Delay Rights. Notwithstanding anything to the contrary contained herein, the Partnership may, upon written notice to any Selling Holder whose Registrable Securities are included in the Registration Statement, suspend such Selling Holder’s use of any prospectus that is a part of such Registration Statement (in which event the Selling Holder shall suspend sales of the Registrable Securities pursuant to such Registration Statement) if (i) the Partnership is pursuing an acquisition, merger, reorganization, disposition, or other similar transaction and the Partnership determines in good faith that the Partnership’s ability to pursue or consummate such a transaction would be materially and adversely affected by any required disclosure of such transaction in such Registration Statement, (ii) the Partnership determines it must amend or supplement the Registration Statement or the related prospectus so that such Registration Statement or prospectus does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the prospectus, in light of the circumstances under which they were made) not misleading, (iii) the Partnership determines that it would be required to make disclosure of material information in the Registration Statement that the Partnership has a bona fide business purpose for preserving as confidential, or (iv) the Partnership has experienced some other material non-public event, the disclosure of which at such time, in the good faith judgment of the Partnership, would materially and adversely affect the Partnership; provided, however, that in no event shall the Selling Holders be suspended from selling Registrable Securities pursuant to such Registration Statement for a period that exceeds an aggregate of sixty (60) days in any 180-day period or ninety (90) days in any 365-day period. Upon disclosure of such information or the termination of the condition described above, the Partnership shall provide prompt notice to the Selling Holders whose Registrable Securities are included in such Registration Statement, shall promptly terminate any suspension of the use of prospectus that is a part of such Registration Statement it has put into effect, and shall take such other actions necessary or appropriate to permit registered sales of Registrable Securities as contemplated in this Agreement.

Section 2.02 Further Obligations. In connection with its obligations under this Article II, the Partnership will:

(a) promptly prepare and file with the Commission the Registration Statement and such amendments and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration Statement effective for the Effectiveness Period and as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such Registration Statement;

(b) furnish to each Selling Holder (i) as far in advance as reasonably practicable before filing the Registration Statement or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including exhibits and each document incorporated by reference therein to the extent then required by the rules and regulations of the Commission), and provide each Selling Holder the opportunity to object to any information pertaining to such Selling Holder and the plan of

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distribution that is contained therein and, to the extent timely received, make the corrections reasonably requested with respect to such information prior to filing such Registration Statement and the prospectus included therein or any supplement or amendment thereto, and (ii) such number of copies of such Registration Statement and the prospectus included therein and any supplements and amendments thereto as such Selling Holder may reasonably request in order to facilitate the resale or other disposition of the Registrable Securities covered by such Registration Statement;

(c) if applicable, use its commercially reasonable efforts to promptly register or qualify the Registrable Securities covered by the Registration Statement under the securities or blue sky laws of such jurisdictions as the Selling Holders shall reasonably request; provided, however, that the Partnership will not be required to qualify generally to transact business in any jurisdiction in which it is not then required to so qualify or to take any action that would subject it to general service of process in any such jurisdiction in which it is not then so subject;

(d) promptly notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered by any such Selling Holder under the Securities Act, of (i) the filing of the Registration Statement or any prospectus or prospectus supplement to be used in connection therewith, or any amendment or supplement thereto, and, with respect to such Registration Statement or any post-effective amendment thereto, when the same has become effective; and (ii) the receipt of any written comments from the Commission with respect to any filing referred to in clause (i) and any written request by the Commission for amendments or supplements to such Registration Statement or any prospectus or prospectus supplement thereto;

(e) promptly notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered by any such Selling Holder under the Securities Act, of (i) the happening of any event as a result of which the prospectus or prospectus supplement contained in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus contained therein, in the light of the circumstances under which a statement is made); (ii) the issuance or express threat of issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; or (iii) the receipt by the Partnership of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction. Following the provision of such notice, the Partnership agrees to, as promptly as practicable, amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus supplement does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing and to take such other action as is reasonably necessary to remove a stop order, suspension, threat thereof, or proceedings related thereto;

(f) upon request and subject to appropriate confidentiality obligations, furnish to each Selling Holder copies of any and all transmittal letters or other correspondence with the Commission or any other governmental agency or self-regulatory body or other body

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having jurisdiction (including any domestic or foreign securities exchange) relating to such offering of Registrable Securities;

(g) otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission;

(h) use its commercially reasonable efforts to cause all Registrable Securities registered pursuant to this Agreement to be listed on each securities exchange or nationally recognized quotation system on which similar securities issued by the Partnership are then listed;

(i) use its commercially reasonable efforts to cause Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Partnership to enable the Selling Holders to consummate the disposition of such Registrable Securities;

(j) provide a transfer agent and registrar for all Registrable Securities covered by the Registration Statement not later than the Effective Date of such Registration Statement;

(k) if reasonably requested by any Selling Holder, (i) incorporate in a prospectus supplement or post-effective amendment such information as such Selling Holder reasonably requests to be included therein relating to the sale and distribution of Registrable Securities, including information with respect to the number of Registrable Securities being offered or sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering; and (ii) make all required filings of such prospectus supplement or post-effective amendment after being notified of the matters to be incorporated in such prospectus supplement or post-effective amendment;

(l) if reasonably required by the Partnership’s transfer agent, the Partnership shall promptly deliver any authorizations, certificates, and directions required by the transfer agent which authorize and direct the transfer agent to transfer Registrable Securities without legend upon sale by the Holder of such Registrable Securities under the Registration Statement.

Each Selling Holder, upon receipt of notice from the Partnership of the happening of any event of the kind described in Section 2.02(e), shall forthwith discontinue offers and sales of the Registrable Securities by means of a prospectus or prospectus supplement until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 2.02(e) or until it is advised in writing by the Partnership that the use of the prospectus may be resumed and has received copies of any additional or supplemental filings incorporated by reference in the prospectus, and, if so directed by the Partnership, such Selling Holder will deliver to the Partnership (at the Partnership’s expense) all copies in its possession or control, other than permanent file copies then in such Selling Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice.

Section 2.03 Cooperation by Holders. The Partnership shall have no obligation to include Registrable Securities of a Holder in the Registration Statement if such Holder has failed to timely furnish

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such information that the Partnership reasonably determines, after consultation with its counsel, is required in order for the Registration Statement or prospectus supplement, as applicable, to comply with the Securities Act.

Section 2.04 Expenses.

(a) Certain Definitions. “Registration Expenses” means all expenses incurred by the Partnership incident to the Partnership’s performance of its obligations under Section 2.01 and Section 2.02 hereof, including all registration, filing, securities exchange listing and National Securities Exchange fees, all registration, filing, qualification, and other fees and expenses of complying with securities or blue sky laws, fees of the Financial Industry Regulatory Authority, fees of transfer agents and registrars, all word processing, duplicating, and printing expenses, and the fees and disbursements of counsel for the Partnership and independent public accountants for the Partnership, including the expenses of any special audits incident to such performance and compliance.

(b) Expenses. The Partnership will pay all reasonable, documented Registration Expenses, as determined in good faith. Each Selling Holder shall reimburse the Partnership for its pro rata share of all reasonable and documented out-of-pocket costs and expenses in connection with the Registration Statement filed pursuant to Section 2.01(a). In addition, the Partnership shall not be responsible for the fees and expenses incurred by any Holder, including professional fees (including legal fees) incurred in connection with the exercise of such Holder’s rights hereunder.

Section 2.05 Indemnification.

(a) By the Partnership. In the event of the Registration of any Registrable Securities under the Securities Act pursuant to this Agreement, the Partnership will indemnify and hold harmless each Selling Holder thereunder, its directors, officers, managers, partners, employees, and agents and each Person, if any, who controls such Selling Holder within the meaning of the Securities Act and the Exchange Act, and its directors, officers, managers, partners, employees, or agents (collectively, the “Selling Holder Indemnified Persons”), against any losses, claims, damages, expenses, or liabilities (including reasonable attorneys’ fees and expenses) (collectively, “Losses”), joint or several, to which such Selling Holder Indemnified Person may become subject under the Securities Act, the Exchange Act, or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact (in the case of any prospectus, in light of the circumstances under which such statement is made) contained in (which, for the avoidance of doubt, includes documents incorporated by reference in) the Registration Statement, any preliminary prospectus, prospectus supplement, or final prospectus contained therein, or any amendment or supplement thereof, or any free writing prospectus relating thereto, 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 case of a prospectus, in light of the circumstances under which they were made) not misleading, and will reimburse each such Selling Holder Indemnified Person for any reasonable, documented legal or other expenses incurred by such Selling Holder Indemnified Person in connection with investigating, defending, or resolving any such Loss or actions or

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proceedings; provided, however, that the Partnership will not be liable in any such case if and to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished to it by such Selling Holder Indemnified Person in writing specifically for use in the Registration Statement or prospectus supplement, as applicable. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Selling Holder Indemnified Person, and shall survive the transfer of such securities by such Selling Holder.

(b) By Each Selling Holder. Each Selling Holder severally and not jointly agrees to indemnify and hold harmless the Partnership, the General Partner and their respective directors, officers, employees, and agents and each Person, who, directly or indirectly, controls the Partnership within the meaning of the Securities Act or of the Exchange Act to the same extent as the foregoing indemnity from the Partnership to the Selling Holders, but only with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in the Registration Statement, any preliminary prospectus, prospectus supplement, or final prospectus contained therein, or any amendment or supplement thereto or any free writing prospectus relating thereto; provided, however, that the liability of each Selling Holder shall not be greater in amount than the dollar amount of the proceeds received by such Selling Holders from the sale of the Registrable Securities giving rise to such indemnification.

(c) Notice. Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission to so notify the indemnifying party shall not relieve it from any liability that it may have to any indemnified party other than under this Section 2.05(c), except to the extent that the indemnifying party is materially prejudiced by such failure. In any action brought against any indemnified party, it shall notify the indemnifying party of the commencement thereof. The indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 2.05 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof, other than reasonable costs of investigation and of liaison with counsel so selected; provided, however, that, (i) if the indemnifying party has failed to assume the defense or employ counsel reasonably satisfactory to the indemnified party or (ii) if the defendants in any such action include both the indemnified party and the indemnifying party and counsel to the indemnified party shall have concluded that there may be reasonable defenses available to the indemnified party that are different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, then the indemnified party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other reasonable expenses related to such participation to be reimbursed by the indemnifying party as incurred. Notwithstanding any other provision of this Agreement, no indemnifying party shall settle any action brought against any indemnified party with respect to which such indemnified party may

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be entitled to indemnification hereunder without the consent of the indemnified party, unless the settlement thereof imposes no liability or obligation on, includes a complete and unconditional release from liability of, and does not contain any admission of wrongdoing by, the indemnified party.

(d) Contribution. If the indemnification provided for in this Section 2.05 is held by a court or government agency of competent jurisdiction to be unavailable to any indemnified party or is insufficient to hold such indemnified party harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such Losses in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and of the indemnified party, on the other hand, in connection with the statements or omissions that resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that the liability of each Selling Holder shall not be greater than the maximum amount for which such Selling Holder could have been liable under the proviso contained in Section 2.05(b). The relative fault of the indemnifying party, on the one hand, and the indemnified party, on the other, 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 has been made by, or relates to, information supplied by such party, and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to herein. The amount paid by an indemnified party as a result of the Losses referred to in the first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating, defending, or resolving any Loss that is the subject of this paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation.

(e) Other Indemnification. The provisions of this Section 2.05 shall be in addition to any other rights to indemnification or contribution that an indemnified party may have pursuant to law, equity, contract, or otherwise.

Section 2.06 Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the Commission that may permit the resale of the Registrable Securities without registration, the Partnership agrees to use its commercially reasonable efforts to:

(a) make and keep public information regarding the Partnership available, as those terms are understood and defined in Rule 144 under the Securities Act (or any similar provision then in effect), at all times from and after the date hereof until no Holder owns Registrable Securities;

(b) file with the Commission in a timely manner all reports and other documents required of the Partnership under the Securities Act and the Exchange Act at all times from and after the date hereof until no Holder owns Registrable Securities; and

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(c) so long as a Holder owns any Registrable Securities, furnish (i) to the extent accurate, forthwith upon request, a written statement of the Partnership that it has complied with the reporting requirements of Rule 144 under the Securities Act (or any similar provision then in effect) and (ii) unless otherwise available via the Commission’s EDGAR filing system, to such Holder forthwith upon request a copy of the most recent annual or quarterly report of the Partnership, and such other reports and documents so filed as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to sell any such securities without registration.

Section 2.07 Transfer or Assignment of Registration Rights. The rights to cause the Partnership to register Registrable Securities under this Article II may be transferred or assigned by a Holder only if (a) such transferee or assignee (i) acquires Class B Units in accordance with the Company LLC Agreement or (ii) acquires Registrable Securities from such Holder (each of the transferees and assignees specified in this clause (a), a “Specified Transferee”), (b) the Partnership is given written notice prior to any such transfer or assignment, stating the name and address of each such transferee or assignee and identifying the securities with respect to which such registration rights are being transferred or assigned, (c) with respect to such Holder, a Change of Control has not occurred, and (d) each such transferee or assignee assumes in writing responsibility for its portion of the obligations of such transferring Holder under this Agreement. Notwithstanding the foregoing, a Holder may not transfer any of its rights to give or receive notices on behalf of itself without the express written consent of the Partnership.

ARTICLE III

MISCELLANEOUS

Section 3.01 Communications. All notices and other communications provided for hereunder shall be in writing and shall be given by registered or certified mail, return receipt requested, telecopy or facsimile, air courier guaranteeing overnight delivery, personal delivery, or (in the case of any notice or communication given by the Partnership to Investor or any other Holder) email to the following addresses:

(a) If to Investor or to any other Holder, to the addresses set forth on Schedule A.

(b) If to the Partnership:

NextEra Energy Partners, LP

700 Universe Boulevard

Juno Beach, Florida 33408

Attention: Treasurer and Daniel Lotano

e-mail: Daniel.Lotano@nexteraenergy.com

with a copy to:

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Skadden, Arps, Slate, Meagher & Flom LLP

920 N. King Street

Wilmington, Delaware 19801

Attention: Allison Land

e-mail: Allison.Land@skadden.com

or to such other address as the Partnership, Investor, or any other Holder may designate to each other in writing from time to time or, if to a transferee or assignee of Investor or any other Holder or any transferee or assignee thereof, to such transferee or assignee at the address provided pursuant to Section 2.07. All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; upon actual receipt if sent by certified or registered mail, return receipt requested, or regular mail, if mailed; upon actual receipt of the facsimile or email copy, if sent via facsimile or email; and upon actual receipt when delivered to an air courier guaranteeing overnight delivery.

Section 3.02 Binding Effect. This Agreement shall be binding upon the Partnership, Investor, and their respective successors and permitted assigns, including subsequent Holders of Registrable Securities to the extent permitted herein. Except as expressly provided in this Agreement, this Agreement shall not be construed so as to confer any right or benefit upon any Person other than the parties to this Agreement and their respective successors and permitted assigns.

Section 3.03 Assignment of Rights. Except as provided in Section 2.07, neither Investor nor any other Holder may assign or transfer this Agreement or any of the rights, benefits, or obligations hereunder without the prior written consent of the Partnership.

Section 3.04 Recapitalization, Exchanges, etc. Affecting Units. The provisions of this Agreement shall apply to the full extent set forth herein with respect to any and all units of the Partnership or any successor or assign of the Partnership (whether by merger, acquisition, consolidation, reorganization, sale of assets, or otherwise) that may be issued in respect of, in exchange for or in substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, unit splits, recapitalizations, pro rata distributions of units, and the like occurring after the date of this Agreement.

Section 3.05 Aggregation of Registrable Securities. All Registrable Securities held or acquired by Persons who are Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights under this Agreement.

Section 3.06 Specific Performance. Damages in the event of breach of this Agreement by a party hereto may be difficult, if not impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will have the right to seek an injunction or other equitable relief in any court of competent jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to grant such an injunction or other equitable relief. The existence of this right will not preclude any such Person from pursuing any other rights and remedies at law or in equity that such Person may have.

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Section 3.07 Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same agreement.

Section 3.08 Governing Law, Submission to Jurisdiction. This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution, or performance of this Agreement (including any claim or cause of action based upon, arising out of, or related to any representation or warranty made in or in connection with this Agreement), will be construed in accordance with and governed by the laws of the State of Delaware without regard to principles of conflicts of laws. Any action against any party relating to the foregoing shall be brought in any federal or state court of competent jurisdiction located within the State of Delaware, and the parties hereto hereby irrevocably submit to the non-exclusive jurisdiction of any federal or state court located within the State of Delaware over any such action. The parties hereby irrevocably waive, to the fullest extent permitted by applicable law, any objection which they may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. Each of the parties hereto agrees that a judgment in any such dispute may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

Section 3.09 Waiver of Jury Trial. THE PARTIES TO THIS AGREEMENT EACH HEREBY WAIVE, AND AGREE TO CAUSE THEIR AFFILIATES TO WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (A) ARISING UNDER THIS AGREEMENT OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE. THE PARTIES TO THIS AGREEMENT EACH HEREBY AGREE AND CONSENT THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

Section 3.10 Entire Agreement. This Agreement, the Purchase Agreement, and the other agreements and documents referred to herein and therein are intended by the parties as a final expression of their agreement and are intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein. There are no restrictions, promises, warranties, or undertakings, other than those set forth or referred to herein or in the Purchase Agreement, with respect to the rights granted by the Partnership, Investor, or any of their respective Affiliates set forth herein or therein. This Agreement, the Purchase Agreement, and the other agreements and documents referred to herein or therein supersede all prior agreements and understandings between the parties with respect to such subject matter. Notwithstanding the foregoing, no provision of this Agreement, the

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Purchase Agreement, and the other agreements and documents referred to herein and therein are intended to modify, amend, or otherwise affect any provisions of the Partnership Agreement.

Section 3.11 Amendment. This Agreement may be amended only by means of a written amendment signed by (a) the Partnership and (b) either (i) Holders holding at least a majority of the Registrable Securities then outstanding or (ii) if there are no Registrable Securities then outstanding, but Registrable Securities could be issued pursuant to the Company LLC Agreement and the Partnership Agreement, the Class B Member Representative (as defined in the Company LLC Agreement). Any amendment, supplement, or modification of or to any provision of this Agreement, any waiver of any provision of this Agreement, and any consent to any departure from the terms of any provision of this Agreement shall be effective only in the specific instance and for the specific purpose for which such amendment, supplement, modification, waiver, or consent has been made or given.

Section 3.12 No Presumption. This Agreement has been reviewed and negotiated by sophisticated parties with access to legal counsel and shall not be construed against the drafter.

Section 3.13 Obligations Limited to Parties to Agreement. Each of the parties hereto covenants, agrees, and acknowledges that, other than as set forth herein, no Person other than Investor, the other Holders, their respective permitted assignees, and the Partnership shall have any obligation hereunder and that, notwithstanding that one or more of such Persons may be a corporation, partnership, or limited liability company, no recourse under this Agreement or under any documents or instruments delivered in connection herewith shall be had against any former, current, or future director, officer, employee, agent, general or limited partner, manager, member, stockholder, or Affiliate of any of such Persons or their respective permitted assignees, or any former, current, or future director, officer, employee, agent, general or limited partner, manager, member, stockholder, or Affiliate of any of the foregoing, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on, or otherwise be incurred by any former, current, or future director, officer, employee, agent, general or limited partner, manager, member, stockholder, or Affiliate of any of such Persons or any of their respective assignees, or any former, current, or future director, officer, employee, agent, general or limited partner, manager, member, stockholder, or Affiliate of any of the foregoing, as such, for any obligations of such Persons or their respective permitted assignees under this Agreement or any documents or instruments delivered in connection herewith or for any claim based on, in respect of or by reason of such obligation or its creation, except, in each case, for any assignee of Investor or any other Holder hereunder.

Section 3.14 Interpretation. Article, Section, and Schedule references in this Agreement are references to the corresponding Article, Section, or Schedule to this Agreement, unless otherwise specified. All Schedules to this Agreement are hereby incorporated and made a part hereof as if set forth in full herein and are an integral part of this Agreement. All references to instruments, documents, contracts, and agreements are references to such instruments, documents, contracts and agreements as the same may be amended, supplemented, or otherwise modified from time to time, unless otherwise specified. The word “including” shall mean “including but not limited to” and shall not be construed to limit any general statement that it follows to the specific or similar items or matters immediately following it. Whenever the Partnership has an obligation under this

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Agreement, the expense of complying with that obligation shall be an expense of the Partnership, unless otherwise specified. Any reference in this Agreement to “$” shall mean U.S. dollars. Whenever any determination, consent, or approval is to be made or given by Investor or any other Holder, such action shall be in such Person’s sole discretion, unless otherwise specified in this Agreement. If any provision in this Agreement is held to be illegal, invalid, not binding, or unenforceable, (a) such provision shall be fully severable and this Agreement shall be construed and enforced as if such illegal, invalid, not binding, or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions shall remain in full force and effect, and (b) the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. When calculating the period of time before which, within which, or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded. If the last day of such period is a non-Business Day, the period in question shall end on the next succeeding Business Day. The words such as “herein,” “hereinafter,” “hereof,” and “hereunder” refer to this Agreement as a whole and not merely to a subdivision in which such words appear unless the context otherwise requires. The provision of a Table of Contents, the division of this Agreement into Articles, Sections, and other subdivisions, and the insertion of headings are for convenience of reference only and shall not affect or be utilized in construing or interpreting this Agreement.

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IN WITNESS WHEREOF, the parties hereto execute this Agreement, effective as of the date first above written.



NEXTERA ENERGY PARTNERS, LP


By:
	Name:
	Title:

[Signature Page to Registration Rights Agreement]



INVESTOR:

GEPIF III MEADE INVESTCO, L.P.

By:	GEPIF III InvestCo 2 GP, LLC, its
	general partner

By:	Global Energy & Power Infrastructure
	Fund III, L.P., its sole member

By:	Global Energy & Power Infrastructure
	GP OOO, L.P., its general partner

By:	GEPIF III (GenPar), LLC, its general
	partner

By:	BlackRock Infrastructure Master Carry,
	L.P. - GEPIF III Series, its sole member

By:	BlackRock Financial Management, Inc.,
	its general partner

By:
	Name:
	Title:

[Signature Page to Registration Rights Agreement]

SCHEDULE A

Contact Information; Address for Notices to Investor or Any Other Holder



Investor

GEPIF III Meade Investco, L.P. c/o Global Energy & Power Infrastructure Funds One Lafayette Place, Greenwich, CT 06830 Attention: Matt Raben Email: matthew.raben@blackrock.com with copies to (which alone shall not constitute notice): BlackRock, Inc. Office of the General Counsel 40 East 52nd Street, 19th floor New York, NY 10022 Attention: Jelena Napolitano and David Maryles Email: legaltransactions@blackrock.com and Simpson Thacher & Bartlett LLP 600 Travis Street, Suite 5400 Houston, Texas 77002 Attention: Christopher R. May Facsimile: 713-821-5602 Email: cmay@stblaw.com

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