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SECOND AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
OF
NEXTERA ENERGY PARTNERS, LP
A Delaware Limited Partnership
Dated as of
August 4, 2017
810649.05-WILSR01A - MSW
TABLE OF CONTENTS
Page
ARTICLE I
DEFINITIONS
Section 1.1 Definitions................................................................................................................1
Section 1.2 Construction ...........................................................................................................18
ARTICLE II
ORGANIZATION
Section 2.1 Formation ...............................................................................................................18
Section 2.2 Name ......................................................................................................................19
Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices .................19
Section 2.4 Purpose and Business .............................................................................................19
Section 2.5 Powers ....................................................................................................................20
Section 2.6 Term .......................................................................................................................20
Section 2.7 Title to Partnership Assets .....................................................................................20
ARTICLE III
RIGHTS OF LIMITED PARTNERS
Section 3.1 Limitation of Liability............................................................................................21
Section 3.2 Management of Business .......................................................................................21
Section 3.3 Rights of Limited Partners .....................................................................................21
ARTICLE IV
CERTIFICATES; RECORD HOLDERS; TRANSFER OF PARTNERSHIP
INTERESTS; REDEMPTION OF PARTNERSHIP INTERESTS
Section 4.1 Certificates .............................................................................................................22
Section 4.2 Mutilated, Destroyed, Lost or Stolen Certificates .................................................23
Section 4.3 Record Holders ......................................................................................................23
Section 4.4 Transfer Generally .................................................................................................24
Section 4.5 Registration and Transfer of Limited Partner Interests..........................................24
Section 4.6 Transfer of the General Partner’s General Partner Interest ...................................26
Section 4.7 Restrictions on Transfers .......................................................................................26
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ARTICLE V
CAPITAL CONTRIBUTIONS AND ISSUANCE OF PARTNERSHIP INTERESTS
Section 5.1 Capital Contributions .............................................................................................27
Section 5.2 Interest and Withdrawal .........................................................................................27
Section 5.3 Units .......................................................................................................................27
Section 5.4 Issuances of Additional Partnership Interests ........................................................28
Section 5.5 Limited Preemptive Right ......................................................................................29
Section 5.6 Splits and Combinations ........................................................................................31
Section 5.7 Fully Paid and Non-Assessable Nature of Limited Partner Interests ....................31
Section 5.8 Series A Preferred Units ........................................................................................32
ARTICLE VI
DISTRIBUTIONS
Section 6.1 Distributions to Record Holders ............................................................................48
ARTICLE VII
MANAGEMENT AND OPERATION OF BUSINESS
Section 7.1 Management by Board of Directors .......................................................................48
Section 7.2 Certificate of Limited Partnership .........................................................................55
Section 7.3 Restrictions on the Partnership’s Authority to Sell Assets of the
Partnership Group ..................................................................................................56
Section 7.4 Reimbursement of the General Partner ..................................................................56
Section 7.5 Outside Activities...................................................................................................57
Section 7.6 Loans from the General Partner; Loans or Contributions from the
Partnership or Group Members ..............................................................................58
Section 7.7 Indemnification ......................................................................................................59
Section 7.8 Liability of Indemnitees .........................................................................................61
Section 7.9 Resolution of Conflicts of Interest; Standards of Conduct and
Modification of Duties ...........................................................................................61
Section 7.10 Certain Additional Matters Requiring Consent of the General Partner .................64
Section 7.11 Purchase or Sale of Partnership Interests ...............................................................64
Section 7.12 Reliance..................................................................................................................65
ARTICLE VIII
BOOKS, RECORDS, ACCOUNTING AND REPORTS
Section 8.1 Records and Accounting ........................................................................................66
Section 8.2 Fiscal Year .............................................................................................................66
Section 8.3 Reports ...................................................................................................................66
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ARTICLE IX
TAX MATTERS
Section 9.1 Tax Characterizations, Elections and Information .................................................67
Section 9.2 Withholding ...........................................................................................................67
ARTICLE X
ADMISSION OF PARTNERS
Section 10.1 Admission of Limited Partners ..............................................................................67
Section 10.2 Admission of Successor General Partner ...............................................................68
Section 10.3 Amendment of Agreement and Certificate of Limited Partnership .......................68
ARTICLE XI
WITHDRAWAL OR REMOVAL OF PARTNERS
Section 11.1 Withdrawal of the General Partner ........................................................................69
Section 11.2 Removal of the General Partner .............................................................................70
Section 11.3 Interest of Departing General Partner and Successor General Partner ..................70
Section 11.4 Withdrawal of Limited Partners.............................................................................72
ARTICLE XII
DISSOLUTION AND LIQUIDATION
Section 12.1 Dissolution .............................................................................................................72
Section 12.2 Continuation of the Business of the Partnership After Dissolution .......................73
Section 12.3 Liquidator ...............................................................................................................73
Section 12.4 Liquidation .............................................................................................................74
Section 12.5 Cancellation of Certificate of Limited Partnership ................................................75
Section 12.6 Return of Contributions .........................................................................................75
Section 12.7 Waiver of Partition .................................................................................................75
ARTICLE XIII
AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS; RECORD DATE; VOTING
Section 13.1 Amendments to the Partnership Agreement ..........................................................75
Section 13.2 Amendment Procedures .........................................................................................77
Section 13.3 Amendment Requirements.....................................................................................78
Section 13.4 Annual and Special Meetings ................................................................................80
Section 13.5 Notice of a Meeting ...............................................................................................83
Section 13.6 Record Date ...........................................................................................................84
Section 13.7 Postponement and Adjournment ............................................................................84
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810649.05-WILSR01A - MSW
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