Exhibit 4.1
BUCKEYE PARTNERS,
L.P.
Issuer
and
U.S. BANK NATIONAL
ASSOCIATION
Trustee
SIXTH SUPPLEMENTAL
INDENTURE
Dated as of August 18,
2009
To
INDENTURE
Dated as of July 10,
2003
5.50% Notes due
2019
TABLE OF CONTENTS
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Page
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ARTICLE 1 Relation to Indenture;
Definitions
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1
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SECTION 1.01. Relation to
Indenture
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1
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SECTION 1.02.
Definitions
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1
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SECTION 1.03. General
References
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2
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ARTICLE 2 The Series of
Securities
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2
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SECTION 2.01. The Form and
Title of the Securities
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2
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SECTION 2.02. Amount
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2
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SECTION 2.03. Stated
Maturity
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2
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SECTION 2.04. Interest and
Interest Rates
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2
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SECTION 2.05. Place of
Payment
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3
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SECTION 2.06. Optional
Redemption
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3
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SECTION 2.07. Defeasance and
Discharge; Covenant Defeasance
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3
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SECTION 2.08. Global
Securities
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3
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ARTICLE 3 Events of Default
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3
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SECTION 3.01. Additional Event
of Default
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3
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ARTICLE 4 Covenants
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3
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SECTION 4.01. Additional
Covenant
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3
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ARTICLE 5 Miscellaneous
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4
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SECTION 5.01. Certain Trustee
Matters
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4
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SECTION 5.02. Continued
Effect
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4
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SECTION 5.03. Governing
Law
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5
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SECTION 5.04.
Counterparts
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5
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EXHIBITS
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Exhibit A: Form of Note
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SIXTH SUPPLEMENTAL INDENTURE, dated
as of August 18, 2009 (this “ Sixth Supplemental
Indenture ”), between BUCKEYE PARTNERS, L.P., a Delaware
limited partnership (the “ Partnership ”),
having its principal office at 1 Greenway Plaza, Suite 600,
Houston, Texas 77056, and U.S. BANK NATIONAL ASSOCIATION, a
national banking association organized and existing under the laws
of the United States of America (as successor-in-interest to
SUNTRUST BANK), as trustee under the Indenture referred to below
(in such capacity, the “ Trustee ”).
RECITALS OF THE
PARTNERSHIP
WHEREAS, the Partnership and the
Trustee have heretofore entered into an Indenture, dated as of
July 10, 2003 (the “ Original Indenture ”),
as amended and supplemented by the First Supplemental Indenture
thereto dated as of July 10, 2003 (the “ First
Supplemental Indenture ”), the Second Supplemental
Indenture thereto dated as of August 19, 2003 (the “
Second Supplemental Indenture ”), the Third
Supplemental Indenture thereto dated as of October 12, 2004
(the “ Third Supplemental Indenture ”). the
Fourth Supplemental Indenture thereto dated as of June 30,
2005 (the “ Fourth Supplemental Indenture ”) and
the Fifth Supplemental Indenture thereto dated as of
January 11, 2008 (the “ Fifth Supplemental
Indenture ”) (the Original Indenture, as supplemented
from time to time, including without limitation pursuant to the
First Supplemental Indenture, the Second Supplemental Indenture,
the Third Supplemental Indenture, the Fourth Supplemental
Indenture, the Fifth Supplemental Indenture and this Sixth
Supplemental Indenture being referred to herein as the “
Indenture ”); and
WHEREAS, under the Original
Indenture, a new series of Securities may at any time be
established by the Board of Directors of Buckeye GP LLC, the
Partnership’s general partner (the “ General
Partner ”), in accordance with the provisions of the
Original Indenture, and the terms of such series may be established
by a supplemental indenture executed by the General Partner on
behalf of the Partnership and by the Trustee; and
WHEREAS, the Partnership proposes to
create under the Indenture a new series of Securities;
and
WHEREAS, all acts and things
necessary to make the Notes (as herein defined), when executed by
the General Partner on behalf of the Partnership and authenticated
and delivered by the Trustee as provided in the Original Indenture
and this Sixth Supplemental Indenture, the valid and binding
obligations of the Partnership and to make this Sixth Supplemental
Indenture a valid and binding agreement in accordance with the
Original Indenture have been done or performed;
NOW, THEREFORE, in consideration of
the premises, agreements and obligations set forth herein and for
other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree,
for the equal and proportionate benefit of all Holders of the
Notes, as follows:
ARTICLE 1
RELATION TO INDENTURE; DEFINITIONS
SECTION 1.01. Relation
to Indenture.
With respect to the Notes, this
Sixth Supplemental Indenture constitutes an integral part of the
Indenture.
SECTION 1.02.
Definitions.
For all purposes of this Sixth
Supplemental Indenture, capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned thereto
in the Original Indenture.
SECTION 1.03. General
References.
All references in this Sixth
Supplemental Indenture to Articles and Sections, unless otherwise
specified, refer to the corresponding Articles and Sections of this
Sixth Supplemental Indenture; and the term “ herein
”, “ hereof ”, “ hereunder
” and any other word of similar import refers to this Sixth
Supplemental Indenture.
ARTICLE 2
THE SERIES OF SECURITIES
SECTION 2.01. The
Form and Title of the Securities .
There is hereby established a new
series of Securities to be issued under the Indenture and to be
designated as the Partnership’s 5.50% Notes due 2019 (the
“ Notes ”). The Notes shall be
substantially in the form attached as Exhibit A hereto,
in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by
the Indenture, and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as
the Partnership may deem appropriate or as may be required or
appropriate to comply with any laws or with any rules made
pursuant thereto or with the rules of any securities exchange
or automated quotation system on which the Notes may be listed or
traded, or to conform to general usage, or as may, consistently
with the Indenture, be determined by the officers executing such
Notes, as evidenced by their execution thereof.
The Notes shall be executed,
authenticated and delivered in accordance with the provisions of,
and shall in all respects be subject to, the terms, conditions and
covenants of the Original Indenture as supplemented by this Sixth
Supplemental Indenture (including the form of Note set forth as
Exhibit A hereto (the terms of which are incorporated
in and made a part of this Sixth Supplemental Indenture for all
intents and purposes)).
SECTION 2.02.
Amount .
The aggregate principal amount of
the Notes which may be authenticated and delivered pursuant hereto
is unlimited. The Trustee shall initially authenticate and
deliver Notes for original issue in an initial aggregate principal
amount of up to $275,000,000 upon delivery to the Trustee of a
Partnership Order for the authentication and delivery of such
Notes. The aggregate principal amount of the Notes to be
issued hereunder may be increased at any time hereafter and the
series may be reopened for issuances of additional Notes, upon
Partnership Order without the consent of any Holder. The
Notes issued on the date hereof and any such additional Notes that
may be issued hereafter shall be part of the same series of
Securities for all purposes under the Indenture.
SECTION 2.03. Stated
Maturity.
The Notes may be issued on any
Business Day on or after August 18, 2009, and the Stated
Maturity of the Notes shall be August 15, 2019.
SECTION 2.04. Interest
and Interest Rates .
The rate or rates at which the Notes
shall bear interest, the date or dates from which such interest
shall accrue, the Interest Payment Dates on which any such interest
shall be payable and the Regular Record Date for any interest
payable on any Interest Payment Date, in each case, shall be as set
forth in the form of Note set forth as Exhibit A
hereto.
2
SECTION 2.05. Place of
Payment .
As long as any Notes are
outstanding, the Partnership shall maintain an office or agency in
the Borough of Manhattan, The City of New York, where Notes may be
presented for payment.
SECTION 2.06. Optional
Redemption .
At its option, the Partnership may
redeem the Notes, in whole or in part, in principal amounts of
$1,000 or any integral multiple thereof, at any time or from time
to time, at the applicable redemption price determined as set forth
in the form of Note attached hereto as Exhibit A , in
accordance with the terms set forth in the Notes and in accordance
with Article XI of the Original Indenture.
SECTION 2.07.
Defeasance and Discharge; Covenant Defeasance .
Article XIII of the Original
Indenture shall apply to the Notes.
SECTION 2.08. Global
Securities .
The Notes shall initially be
issuable in whole or in part in the form of one or more Global
Securities. Such Global Securities (i) shall be
deposited with, or on behalf of, the Depository Trust Company, New
York, New York, which shall act as Depositary with respect to the
Notes, (ii) shall bear the legends applicable to Global
Securities set forth in Sections 2.02 and 2.04 of the Original
Indenture, (iii) may be exchanged in whole or in part for
Securities in definitive form upon the terms and subject to the
conditions provided in Section 3.05 of the Original Indenture
and in this Sixth Supplemental Indenture and (iv) shall
otherwise be subject to the applicable provisions of the
Indenture.
ARTICLE 3
EVENTS OF DEFAULT
SECTION 3.01.
Additional Event of Default
With respect to the Notes, the
occurrence of any of the following events shall, in addition to the
other events or circumstances described as Events of Default in
Section 5.01 of the Original Indenture, constitute an Event of
Default: default under any mortgage, indenture or instrument under
which there may be issued or by which there may be secured or
evidenced any Indebtedness of the Partnership or any of its
Subsidiaries (or the payment of which is guaranteed by the
Partnership or any of its Subsidiaries), whether such Indebtedness
or guarantee now exists or is created after the date of issuance of
any Notes, if (a) that default (x) is caused by a failure
to pay principal of or premium, if any, or interest on such
Indebtedness prior to the expiration of any grace period provided
in such Indebtedness (a “ Payment Default ”), or
(y) results in the acceleration of the maturity of such
Indebtedness to a date prior to its originally stated maturity,
and, (b) in each case described in clauses (x) or
(y) above, the principal amount of any such Indebtedness,
together with the principal amount of any other such Indebtedness
under which there has been a Payment Default or the maturity of
which has been so accelerated, aggregates $50,000,000 or
more.
ARTICLE 4
COVENANTS
SECTION 4.01.
Additional Covenant
The covenant contained in this
Section 4.01 shall apply to the Notes only and not to any
other series of Securities issued under the Indenture, and is being
included solely for the benefit of the Notes and the Holders
thereof. This covenant shall be effective only for so long as
there remain Outstanding any Notes.
3
SEC Reports; Financial
Statements .
(1)
Whether or not the Partnership is then subject to the reporting
requirements of Section 13 or 15(d) of the Exchange Act,
from and after the Issue Date of the Notes, the Partnership shall
electronically file with the Commission, so long as the Notes are
Outstanding, the annual, quarterly and other periodic reports that
the Partnership is required to file (or would otherwise be required
to file) with the Commission pursuant to Sections 13 and
15(d) of the Exchange Act, and such documents shall be filed
with the Commission on or prior to the respective dates (the
“ Required Filing Dates ”) by which the
Partnership is required to file (or would otherwise be required to
file) such documents, unless, in each case, such filings are not
then permitted by the Commission.
(2)
If such filings are not then permitted by the Commission, or such
filings are not generally available on the Internet free of charge,
from and after the Issue Date of the Notes, the Partnership shall
provide the Trustee with, and the Trustee, at the
Partnership’s expense, will mail to any Holder of Notes
requesting in writing to the Trustee copies of, such annual,
quarterly and other periodic report specified in Sections 13 and
15(d) of the Exchange Act within 15 days after its Required
Filing Date; provided, however , the Trustee shall have no
liability whatsoever with respect to the mailing and delivery of
such reports to the Holders.
(3)
The Partnership shall provide the Trustee with a sufficient number
of copies of all reports and other documents and information that
the Trustee may be required to deliver to Holders of Notes under
clause (2) of this Section 4.01, along with written
notice from the Partnership to the Trustee of the Required Filing
Date for such documents.
(4)
Delivery of such reports, information and documents to the Trustee
is for informational purposes only and the Trustee’s receipt
of such shall not constitute constructive notice of any information
contained therein or determinable from information contained
therein, including the Partnership’s compliance with any of
its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officers’ Certificates).
ARTICLE 5
MISCELLANEOUS
SECTION 5.01. Certain
Trustee Matters .
The recitals contained herein shall
be taken as the statements of the Partnership, and the Trustee
assumes no responsibility for their correctness.
The Trustee makes no representations
as to the validity or sufficiency of this Sixth Supplemental
Indenture or the Notes or the proper authorization or the due
execution hereof or thereof by the Partnership.
Except as expressly set forth
herein, nothing in this Sixth Supplemental Indenture shall alter
the duties, rights or obligations of the Trustee set forth in the
Original Indenture.
The Trustee makes no representation
or warranty as to the validity or sufficiency of the information
contained in the prospectus supplement related to the Notes, except
such information which specifically pertains to the Trustee itself,
or any information incorporated therein by reference.
SECTION 5.02.
Continued Effect .
Except as expressly supplemented and
amended by this Sixth Supplemental Indenture, the Original
Indenture (as supplemented and amended by the First Supplemental
Indenture, the Second
4
Supplemental Indenture, the Third Supplemental
Indenture, the Fourth Supplemental Indenture and the Fifth
Supplemental Indenture) shall continue in full force and effect in
accordance with the provisions thereof, and the Original Indenture
(as supplemented and amended by the First Supplemental Indenture,
the Second Supplemental Indenture, the Third Supplemental
Indenture, the Fourth Supplemental Indenture, the Fifth
Supplemental Indenture and this Sixth Supplemental Indenture) is in
all respects hereby ratified and confirmed. This Sixth
Supplemental Indenture and all its provisions shall be deemed a
part of the