Section 1.1 Formation and Continuation | 2 | |||
Section 1.2 Name | 3 | |||
Section 1.3 Registered Office; Principal Office | 3 | |||
Section 1.4 Power of Attorney | 3 | |||
Section 1.5 Term | 5 | |||
Section 1.6 Possible Restrictions on Transfer | 5 | |||
ARTICLE II | ||||
DEFINITIONS | 5 | |||
ARTICLE III PURPOSE | ||||
Section 3.1 Purpose and Business | 25 | |||
Section 3.2 Powers | 26 | |||
ARTICLE IV CAPITAL CONTRIBUTIONS | ||||
Section 4.1 Initial Contributions | 26 | |||
Section 4.2 Contributions by the General Partner and the Initial Limited Partners; Contributions on the WNGL Closing Date and issuance of General Partner Units | 26 | |||
Section 4.3 Issuances of Additional Units and Other Securities | 27 | |||
Section 4.4 Limited Preemptive Rights | 29 | |||
Section 4.5 Capital Accounts | 29 | |||
Section 4.6 Interest | 32 | |||
Section 4.7 No Withdrawal | 32 | |||
Section 4.8 Loans from Partners | 32 | |||
Section 4.9 No Fractional Units | 32 | |||
Section 4.10 Splits and Combinations | 32 | |||
ARTICLE V ALLOCATIONS AND DISTRIBUTIONS | ||||
Section 5.1 Allocations for Capital Account Purposes | 33 | |||
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Section 5.2 Allocations for Tax Purposes | 42 | |||
Section 5.3 Requirement and Characterization of Distributions | 44 | |||
Section 5.4 Distributions of Cash from Operations and Additional Senior Units | 45 | |||
Section 5.5 Distributions of Cash from Interim Capital Transactions | 49 | |||
Section 5.6 Adjustment of Senior Unit Liquidation Preference, Senior Unit Distribution, Minimum Quarterly Distribution and Target Distribution Levels | 50 | |||
Section 5.7 Special Provisions Relating to the Senior Units | 51 | |||
Section 5.8 Special Provisions Relating to the Special Limited Partners | 54 | |||
Section 5.9 Special Provision Relating to FCI Common Units | 54 | |||
ARTICLE VI MANAGEMENT AND OPERATION OF BUSINESS | ||||
Section 6.1 Management | 54 | |||
Section 6.2 Certificate of Limited Partnership | 56 | |||
Section 6.3 Restrictions on General Partner’s Authority | 56 | |||
Section 6.4 Reimbursement of the General Partner | 57 | |||
Section 6.5 Outside Activities | 58 | |||
Section 6.6 Loans to and from the General Partner; Contracts with Affiliates | 59 | |||
Section 6.7 Indemnification | 61 | |||
Section 6.8 Liability of Indemnitees | 62 | |||
Section 6.9 Resolution of Conflicts of Interest | 63 | |||
Section 6.10 Other Matters Concerning the General Partner | 64 | |||
Section 6.11 Title to Partnership Assets | 65 | |||
Section 6.12 Purchase or Sale of Units | 65 | |||
Section 6.13 Registration Rights of Ferrellgas and its Affiliates | 66 | |||
Section 6.14 Reliance by Third Parties | 68 | |||
ARTICLE VII RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS | ||||
Section 7.1 Limitation of Liability | 68 | |||
Section 7.2 Management of Business | 68 | |||
Section 7.3 Outside Activities | 68 | |||
Section 7.4 Return of Capital | 69 | |||
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Section 7.5 Rights of Limited Partners Relating to the Partnership | 69 | |||
ARTICLE VIII BOOKS, RECORDS, ACCOUNTING AND REPORTS | ||||
Section 8.1 Records and Accounting | 70 | |||
Section 8.2 Fiscal Year | 70 | |||
Section 8.3 Reports | 70 | |||
ARTICLE IX TAX MATTERS | ||||
Section 9.1 Preparation of Tax Returns | 71 | |||
Section 9.2 Tax Elections | 71 | |||
Section 9.3 Tax Controversies | 71 | |||
Section 9.4 Organizational Expenses | 71 | |||
Section 9.5 Withholding | 71 | |||
Section 9.6 Entity Level Taxation | 72 | |||
Section 9.7 Entity Level Arrearage Collections | 72 | |||
Section 9.8 Opinions of Counsel | 73 | |||
ARTICLE X CERTIFICATES | ||||
Section 10.1 Certificates | 73 | |||
Section 10.2 Registration, Registration of Transfer and Exchange | 73 | |||
Section 10.3 Mutilated, Destroyed, Lost or Stolen Certificates | 74 | |||
Section 10.4 Record Holder | 75 | |||
ARTICLE XI TRANSFER OF INTERESTS | ||||
Section 11.1 Transfer | 75 | |||
Section 11.2 Transfer of the General Partner Interest | 76 | |||
Section 11.3 Transfer of Units (other than General Partner Units) | 76 | |||
Section 11.4 Restrictions on Transfers | 77 | |||
Section 11.5 Citizenship Certificates; Non citizen Assignees | 77 | |||
Section 11.6 Redemption of Interests | 78 | |||
Section 11.7 Transfer of IDRs | 79 | |||
ARTICLE XII ADMISSION OF PARTNERS | ||||
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Section 12.1 Admission of Initial Limited Partners | 79 | |||
Section 12.2 Admission of Substituted Limited Partners | 79 | |||
Section 12.3 Admission of Successor General Partner | 80 | |||
Section 12.4 Admission of Additional Limited Partners | 80 | |||
Section 12.5 Amendment of Agreement and Certificate of Limited Partnership | 81 | |||
ARTICLE XIII WITHDRAWAL OR REMOVAL OF PARTNERS | ||||
Section 13.1 Withdrawal of the General Partner | 81 | |||
Section 13.2 Removal of the General Partner | 82 | |||
Section 13.3 Interest of Departing Partner and Successor General Partner | 83 | |||
Section 13.4 Withdrawal of Limited Partners | 84 | |||
ARTICLE XIV DISSOLUTION AND LIQUIDATION | ||||
Section 14.1 Dissolution | 84 | |||
Section 14.2 Continuation of the Business of the Partnership after Dissolution | 85 | |||
Section 14.3 Liquidation | 86 | |||
Section 14.4 Distributions in Kind | 87 | |||
Section 14.5 Cancellation of Certificate of Limited Partnership | 87 | |||
Section 14.6 Reasonable Time for Winding Up | 87 | |||
Section 14.7 Return of Capital Contributions | 87 | |||
Section 14.8 Capital Account Restoration | 87 | |||
Section 14.9 Waiver of Partition | 88 | |||
ARTICLE XV AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS; RECORD DATE | ||||
Section 15.1 Amendment to be Adopted Solely by General Partner | 88 | |||
Section 15.2 Amendment Procedures | 89 | |||
Section 15.3 Amendment Requirements | 89 | |||
Section 15.4 Meetings | 90 | |||
Section 15.5 Notice of a Meeting | 91 | |||
Section 15.6 Record Date | 91 | |||
Section 15.7 Adjournment | 91 | |||
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Section 15.8 Waiver of Notice; Approval of Meeting; Approval of Minutes | 91 | |||
Section 15.9 Quorum | 91 | |||
Section 15.10 Conduct of Meeting | 92 | |||
Section 15.11 Action Without a Meeting | 92 | |||
Section 15.12 Voting and Other Rights | 93 | |||
Section 15.13 Voting Rights of Senior Units | 93 | |||
Section 15.14 Amendment of Arrearage Requirements | 94 | |||
ARTICLE XVI MERGER | ||||
Section 16.1 Authority | 94 | |||
Section 16.2 Procedure for Merger or Consolidation | 94 | |||
Section 16.3 Approval by Holders of Common Units of Merger or Consolidation | 95 | |||
Section 16.4 Certificate of Merger | 96 | |||
Section 16.5 Effect of Merger | 96 | |||
ARTICLE XVII RIGHT TO ACQUIRE UNITS | ||||
Section 17.1 Right to Acquire Units | 97 | |||
Section 17.2 Right to Acquire Senior Units | 98 | |||
ARTICLE XVIII GENERAL PROVISIONS | ||||
Section 18.1 Addresses and Notices | 99 | |||
Section 18.2 References | 99 | |||
Section 18.3 Pronouns and Plurals | 99 | |||
Section 18.4 Further Action | 100 | |||
Section 18.5 Binding Effect | 100 | |||
Section 18.6 Integration | 100 | |||
Section 18.7 Creditors | 100 | |||
Section 18.8 Waiver | 100 | |||
Section 18.9 Counterparts | 100 | |||
Section 18.10 Applicable Law | 100 | |||
Section 18.11 Invalidity of Provisions | 100 | |||
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AGREEMENT OF LIMITED PARTNERSHIP OF
ORGANIZATIONAL MATTERS
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DEFINITIONS
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PURPOSE
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CAPITAL CONTRIBUTIONS
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ALLOCATIONS AND DISTRIBUTIONS
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MANAGEMENT AND OPERATION OF BUSINESS
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RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS
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BOOKS, RECORDS, ACCOUNTING AND REPORTS
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TAX MATTERS
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CERTIFICATES
- 73 -
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TRANSFER OF INTERESTS
- 75 -
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ADMISSION OF PARTNERS
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WITHDRAWAL OR REMOVAL OF PARTNERS
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DISSOLUTION AND LIQUIDATION
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AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS; RECORD DATE
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MERGER
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RIGHT TO ACQUIRE UNITS
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GENERAL PROVISIONS
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GENERAL PARTNER: | ||||
FERRELLGAS, INC. | ||||
By: | /s/ Kevin T. Kelly | |||
Name: | Kevin T. Kelly | |||
Title: | Senior Vice President and CFO | |||
LIMITED PARTNERS: | ||||||||
All Limited Partners now and hereafter admitted as limited partners of the Partnership, pursuant to Powers of Attorney now and hereafter executed in favor of, and granted and delivered to, the General Partner. | ||||||||
By: | FERRELLGAS, INC. | |||||||
General Partner, as attorney-in-fact for all Limited Partners pursuant to the Powers of Attorney granted pursuant to Section 1.4. | ||||||||
By: | /s/ Kevin T. Kelly | |||||||
Title: Senior Vice President and CFO |
Signature Page
to the Fourth Amended and Restated Agreement of
Limited Partnership of
FERRELLGAS PARTNERS, L.P.
Representing Limited Partner Interests
FERRELLGAS PARTNERS, L.P.
Dated: | ||||||||||
Countersigned and Registered by: | FERRELLGAS, INC., | |||||||||
as General Partner | ||||||||||
By: | ||||||||||
Transfer Agent and Registrar | President | |||||||||
By: | ||||||||||
Authorized Signature | Secretary |
TEN COM | - | as tenants in common | UNIF GIFT MIN ACT- | |||||
TEN ENT | - | as tenants by the entireties | Custodian | |||||
JT TEN | - | as joint tenants with right of survivorship and not as tenants in common | (Cust) (Minor) under Uniform Gifts to Minors Act State |
in
FERRELLGAS PARTNERS, L.P.
DUE TO TAX SHELTER STATUS OF FERRELLGAS PARTNERS, L.P.
(Please print or typewrite name and address of Assignee) | (Please insert Social Security or other identifying number of Assignee) |
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(S) MUST BE GUARANTEED BY A MEMBER FIRM | OF THE NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. OR BY A COMMERCIAL BANK OR TRUST COMPANY |
Date: | ||||||||
Social Security or other identifying number of Assignee | Name and Address of Assignee | |||||||
Purchase Price | ||||||||
including commissions, if any |
Individual | Partnership | Corporation | ||
Trust | Other (specify) |
A. | Individual Interest Holder |
1. | I am not a non-resident alien for purposes of U.S. income taxation. | ||
2. | My U.S. taxpayer identifying number (Social Security Number) is . | ||
3. | My home address is . |
B. | Partnership, Corporate or Other Interest-Holder |
2. | The interest-holder’s U.S. employer identification number is . | ||
3. | The interest-holder’s office address and place of incorporation (if applicable) is . |
to the Agreement of
Limited Partnership of
FERRELLGAS PARTNERS, L.P.
Representing Limited Partner Interests
FERRELLGAS PARTNERS, L.P.
FERRELLGAS, INC., as General Partner | ||||
By: | ||||
President | ||||
By: | ||||
Secretary | ||||
TEN COM | - | as tenants in common | UNIF GIFT MIN ACT- | |||
TEN ENT | - | as tenants by the entireties | Custodian | |||
JT TEN | - | as joint tenants with right of survivorship and not as tenants in common | (Cust) (Minor) under Uniform Gifts to Minors Act | |||
State |
in
FERRELLGAS PARTNERS, L.P.
DUE TO TAX SHELTER STATUS OF FERRELLGAS PARTNERS, L.P.
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. | |||||
Date: | ||
Signature of Assignee | ||
Social Security or other identifying number of Assignee | Name and Address of Assignee | |
Individual | Partnership | Corporation | ||
Trust | Other (specify) |
A. | Individual Interest Holder |
1. | I am not a non-resident alien for purposes of U.S. income taxation. | ||
2. | My U.S. taxpayer identifying number (Social Security Number) is. . | ||
3. | My home address is . |
B. | Partnership, Corporate or Other Interest-Holder |
1. | is not a | ||
(Name of Interest-Holder) | |||
foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Code and Treasury Regulations). | |||
2. | The interest-holder’s U.S. employer identification number is . | ||
3. | The interest-holder’s office address and place of incorporation (if applicable) is . |
Dated: | ||||
Number of Senior Units to be converted: | ||||
If Common Units are to be issued and registered otherwise than to the registered Holder named above, please print or typewrite name and address, including zip code, and social security or other taxpayer identification number. | ||||