<SEC-DOCUMENT>0001299933-15-001603.txt : 20151104
<SEC-HEADER>0001299933-15-001603.hdr.sgml : 20151104
<ACCEPTANCE-DATETIME>20151104171405
ACCESSION NUMBER:		0001299933-15-001603
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151030
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151104
DATE AS OF CHANGE:		20151104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UGI CORP /PA/
		CENTRAL INDEX KEY:			0000884614
		STANDARD INDUSTRIAL CLASSIFICATION:	GAS & OTHER SERVICES COMBINED [4932]
		IRS NUMBER:				232668356
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11071
		FILM NUMBER:		151197871

	BUSINESS ADDRESS:	
		STREET 1:		460 N GULPH RD
		STREET 2:		P O BOX 858
		CITY:			KING OF PRUSSIA
		STATE:			PA
		ZIP:			19406
		BUSINESS PHONE:		6103371000

	MAIL ADDRESS:	
		STREET 1:		460 NORTH GULPH ROAD
		CITY:			KING OF PRUSSIA
		STATE:			PA
		ZIP:			19406

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW UGI CORP
		DATE OF NAME CHANGE:	19600201
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_52658.htm
<DESCRIPTION>LIVE FILING
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<TITLE> UGI Corporation (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	&nbsp;
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	October 30, 2015
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	UGI Corporation
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Pennsylvania
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	1-11071
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	23-2668356
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	460 No.Gulph Road, King of Prussia, Pennsylvania
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	19406
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
	(Zip Code)
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	Registrant&#146;s telephone number, including area code:
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	610 337-1000
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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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:</FONT>
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<P><FONT SIZE="2">
[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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	Item 1.01 Entry into a Material Definitive Agreement.
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On October 30, 2015, UGI Energy Services, LLC ("UGI LLC"), an indirect, wholly owned subsidiary of UGI Corporation ("Registrant"), and Energy Services Funding Corporation ("ESFC"), a wholly owned special purpose subsidiary of UGI LLC, entered into Amendment No. 16 (the "Amendment") to the Receivables Purchase Agreement, dated as of November 30, 2001 (as amended, supplemented or modified from time to time, the "RPA"), among UGI LLC, as servicer, ESFC, as seller, and PNC Bank, National Association, as issuer and administrator ("PNC"). The Amendment provides for (i) changing the Facility Termination Date from October 30, 2015 to October 28, 2016, and (ii) changing the definition of Purchase Limit to mean (x) at any time on or after October 30, 2015 and prior to but excluding May 1, 2016, $150,000,000 and (y) at any time on or after May 1, 2016, $75,000,000.  The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment filed as Exhibit 10.1 hereto.  All capitalized terms used but not otherwise defined herein shall have the meanings given to them in the RPA, as amended by the Amendment. <br><br>The underlying RPA was entered into in conjunction with a Purchase and Sale Agreement, dated as of November 30, 2001 (as amended, supplemented or modified from time to time, the "PSA") between UGI LLC and ESFC. Under the RPA, UGI LLC transfers, on an ongoing basis and without recourse, its trade accounts receivable to ESFC. ESFC, in turn, has in the past sold, and subject to certain conditions, may from time to time in the future sell, an undivided interest in some or all of the receivables to PNC, as successor to the Issuer. ESFC&#x2019;s and UGI LLC&#x2019;s obligations under the RPA and PSA are secured by all receivables under the receivables pool, as well as the related security, the collections thereof and the lock-box accounts into which the proceeds thereof are to be remitted. <br><br>As amended, the scheduled termination date of the RPA is October 28, 2016, although the RPA may terminate prior to such date upon a termination event. The RPA contains customary indemnifications by ESFC and UGI LLC as servicer, as well as customary representations and warranties and affirmative and negative covenants applicable to ESFC as seller and UGI LLC as servicer for agreements of this type. <br><br>The PSA provides for customary termination events (in certain cases, with grace or cure periods), including, among other things, in the event of nonpayment of amounts due under the RPA, a representation or warranty proving to have been incorrect when made, failure to comply with covenants and limitations on certain ratios with respect to receivables, and a change of control of UGI LLC or ESFC. <br><br>PNC or its affiliates has in the past made, and may in the future make, loans to the Registrant or its affiliates, provide other fee-based financial services, and act in various agency roles under credit facilities of the Registrant or its affiliates. Affiliates of PNC have in the past provided, and may in the future provide, the Registrant or its affiliates with investment banking and advisory services for which they have received, and in the future may receive, customary compensation.<br>
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	Item 9.01 Financial Statements and Exhibits.
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(d) Exhibits.<br><br>10.1 Amendment No. 16, dated as of October 30, 2015, to Receivables Purchase Agreement, dated as of November 30, 2001 (as amended, supplemented or modified from time to time), by and among UGI Energy Services, LLC, as servicer, Energy Services Funding Corporation, as seller, and PNC Bank, National Association, as issuer and administrator. <br><br>
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	UGI Corporation
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	&nbsp;&nbsp;
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<I>
	November 4, 2015
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	By:
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<I>
	/s/ Daniel J. Platt
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	Name: Daniel J. Platt
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	Title: Treasurer
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	10.1
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Amendment No. 16, dated as of October 30, 2015, to Receivables Purchase Agreement, dated as of November 30, 2001 (as amended, supplemented or modified from time to time), by and among UGI Energy Services, LLC, as servicer, Energy Services Funding Corporation, as seller, and PNC Bank, National Association, as issuer and administrator.
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<TYPE>EX-10.1
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>EXHIBIT 10.1</B></FONT>



<P align="center" style="font-size: 12pt"><B>AMENDMENT NO. 16<BR>
Dated as of October&nbsp;30, 2015 to</B>



<P align="center" style="font-size: 12pt"><B>RECEIVABLES PURCHASE AGREEMENT Dated as of November&nbsp;30, 2001</B>




<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">This AMENDMENT NO. 16 (this &#147;<U>Amendment</U>&#148;) dated as of October&nbsp;30, 2015 is
entered into among ENERGY SERVICES FUNDING CORPORATION, a Delaware corporation,
as the seller (the &#147;<U>Seller</U>&#148;), UGI ENERGY SERVICES, LLC (as successor to UGI
Energy Services, Inc.), a Pennsylvania limited liability company (&#147;<U>UGI</U>&#148;), as initial
servicer (in such capacity, together with its successors and permitted assigns in such
capacity, the &#147;<U>Servicer</U>&#148;), and PNC BANK, NATIONAL ASSOCIATION, a national banking
association (&#147;<U>PNC</U>&#148;), as issuer (together with its successors and permitted
assigns, the &#147;<U>Issuer</U>&#148;) and as administrator (in such capacity, together with its
successors and assigns in such capacity, the &#147;<U>Administrator</U>&#148;).


<P align="center" style="font-size: 12pt"><U>RECITALS</U>




<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">WHEREAS, the parties hereto have entered into that certain Receivables Purchase Agreement,
dated as of November&nbsp;30, 2001 (as amended, supplemented or otherwise modified from time to time,
the &#147;<U>Agreement</U>&#148;);



<P align="left" style="margin-left:4%; font-size: 12pt">WHEREAS, the parties hereto wish to amend the Agreement as set forth herein; and



<P align="left" style="margin-left:4%; font-size: 12pt">WHEREAS, concurrently herewith, the Seller, Servicer and PNC are entering into a



<P align="left" style="margin-left:1%; font-size: 12pt">Tenth Amended and Restated Fee Letter (the &#147;Fee Letter&#148;).



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">NOW, THEREFORE, in consideration of the promises and the mutual agreements contained herein
and in the Agreement, the parties hereto agree as follows:



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 1. <U>Definitions</U>. All capitalized terms used but not otherwise defined
herein are used herein as defined in the Agreement.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 2. <U>Amendments to the Agreement</U>. The Agreement is hereby amended as
follows:



<P align="left" style="margin-left:4%; font-size: 12pt">(a)&nbsp;The following new defined term and definition thereof is hereby added to



<P align="left" style="margin-left:1%; font-size: 12pt"><U>Exhibit&nbsp;I</U> to the Agreement in appropriate alphabetical order:



<P align="left" style="margin-left:12%; font-size: 12pt">&#147;<U>Company Note</U>&#148; has the meaning set forth in the Purchase and Sale



<P align="left" style="margin-left:8%; font-size: 12pt">Agreement.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">(b) <U>Clause (a)</U> of the definition of &#147;Facility Termination Date&#148;
set forth in <U>Exhibit&nbsp;I</U> to the Agreement is hereby amended by replacing the date &#147;October
30, 2015&#148; where it appears therein with the date &#147;October&nbsp;28, 2016&#148;.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">(c)&nbsp;The definition of &#147;LMIR&#148; set forth in <U>Exhibit&nbsp;I</U> to the
Agreement is hereby amended by inserting the phrase &#147;the greater of (a)&nbsp;0% and (b)&#148; immediately
after the phrase &#147;during any Settlement Period,&#148; where it appears therein.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">(d)&nbsp;The definition of &#147;Purchase Limit&#148; set forth in <U>Exhibit&nbsp;I</U> to
the Agreement is replaced in its entirety with the following:



<P align="left" style="margin-left:12%; font-size: 12pt">&#147;Purchase Limit&#148; means (i)&nbsp;at any time on or after October&nbsp;30,


<P align="left" style="margin-left:8%; margin-right:4%; font-size: 12pt">2015 and prior to but excluding May&nbsp;1, 2016, $150,000,000 and (ii)&nbsp;at any
time on and after May&nbsp;1, 2016 $75,000,000, in each case, as such amount
may be subsequently reduced pursuant to <U>Section&nbsp;1.1(b)</U> of the
Agreement; <U>provided</U>, that any such reduction of the Purchase Limit
then in effect pursuant to <U>clauses (i)</U> or <U>(ii)</U> above, as
applicable, shall automatically and permanently reduce the amount of the
Purchase Limit set forth in such other clauses above in the same
proportion as the percentage of the reduction of the Purchase Limit then
in effect. References to the unused portion of the Purchase Limit shall
mean, at any time, the Purchase Limit minus the then outstanding Capital.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">(e) <U>Section&nbsp;1(s)</U> of <U>Exhibit&nbsp;III</U> to the Agreement is
replaced in its entirety with the following:


<P align="left" style="margin-left:8%; margin-right:4%; font-size: 12pt; text-indent: 4%">(s)&nbsp;The Seller is not an &#147;investment company,&#148; or a company
&#147;controlled&#148; by an &#147;investment company&#148; within the meaning of the
Investment Company Act of 1940, as amended. In addition, the Seller is not
a &#147;covered fund&#148; under Section&nbsp;13 of the U.S. Bank Holding Company Act of
1956, as amended, and the applicable rules and regulations thereunder (the
&#147;Volcker Rule&#148;). In determining that Seller is not a &#147;covered fund&#148; under
the Volcker Rule, Seller is entitled to rely on the exemption from the
definition of &#147;investment company&#148; set forth in Section&nbsp;3(c)(5)(A)
or (B)&nbsp;of the Investment Company Act of 1940, as amended.



<P align="left" style="margin-left:4%; font-size: 12pt">(f)&nbsp;The following new <U>Section&nbsp;1(x)</U> is hereby added to <U>Exhibit&nbsp;III</U> to the



<P align="left" style="margin-left:1%; font-size: 12pt">Agreement immediately following existing <U>Section&nbsp;1(w)</U> thereof:


<P align="left" style="margin-left:8%; margin-right:4%; font-size: 12pt; text-indent: 4%">(x)&nbsp;The Seller has not, does not and will not during the term
of this Agreement (x)&nbsp;issue any obligations that (A)&nbsp;constitute
asset-backed commercial paper, or (B)&nbsp;are securities required to be
registered under the Securities Act of 1933 (the &#147;<U>33 Act</U>&#148;) or that
may be offered for sale under Rule&nbsp;144A or a similar exemption from
registration under the 33 Act or the rules promulgated thereunder, or (y)
issue any other debt obligations or equity interests other than the
Company Notes or debt obligations substantially similar to the obligations
of the Seller under this Agreement that are (A)&nbsp;issued to other banks or
asset-backed commercial paper conduits in privately negotiated
transactions, and (B)&nbsp;subject to transfer restrictions substantially
similar to the transfer restrictions set forth in the


<P align="left" style="margin-left:8%; margin-right:4%; font-size: 12pt">Agreement. The Seller further represents and warrants that its
assets and liabilities are consolidated with the assets and liabilities of
UGI for purposes of generally accepted accounting principles.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 3. <U>Certain Representations, Warranties and Covenants</U>. Each of the
Seller, UGI and the Servicer, as to itself, hereby represents and warrants that:



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(a)&nbsp;the representations and warranties of such Person contained in <U>Exhibit
III</U> to the Agreement (as amended hereby) are true and correct as of the date hereof
(unless stated to relate solely to an earlier date, in which case such representations and
warranties were true and correct as of such earlier date);



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(b)&nbsp;the execution and delivery by such Person of this Amendment, and the
performance of its obligations under this Amendment and the Agreement (as amended hereby)
are within its organizational powers and have been duly authorized by all necessary
organizational action on its part, and this Amendment and the Agreement (as amended
hereby) are its valid and legally binding obligations, enforceable in accordance
with its terms, subject to the effect of bankruptcy, insolvency, reorganization or other
similar laws affecting the enforcement of creditors&#146; rights generally; and



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(c)&nbsp;no Termination Event or Unmatured Termination Event has occurred, is
continuing, or would occur as a result of this Amendment.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 4. <U>Effectiveness</U>. This Amendment shall become effective as of the
date hereof provided that the Administrator shall have received:


<P align="right" style="font-size: 12pt">and



<P align="left" style="font-size: 12pt">(a)&nbsp;counterparts to this Amendment executed by each of the parties hereto;
<BR>



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(b)&nbsp;counterparts to the Fee Letter executed by each of the parties thereto and
confirmation that the &#147;Renewal Fee&#148; owing thereunder has been paid in full.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 5. <U>References to Agreement</U>. Upon the effectiveness of this Amendment,
each reference in the Agreement to &#147;this Agreement&#148;, &#147;hereunder&#148;, &#147;hereof&#148;, &#147;herein&#148;, or words of
like import shall mean and be a reference to the Agreement as amended hereby, and each reference
to the Agreement in any other document, instrument or agreement executed and/or delivered in
connection with the Agreement shall mean and be a reference to the Agreement as amended hereby.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 6. <U>Effect on the Agreement</U>. Except as specifically amended above,
the Agreement and all other documents, instruments and agreements executed and/or delivered in
connection therewith shall remain in full force and effect and are hereby ratified and confirmed.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 7. <U>No Waiver</U>. The execution, delivery and effectiveness of this Amendment
shall not operate as a waiver of any right, power or remedy of any party under the Agreement or
any other document, instrument or agreement executed in connection therewith, nor constitute a
waiver of any provision contained therein, except as specifically set forth herein.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 8. <U>Governing Law</U>. THIS AMENDMENT, INCLUDING THE RIGHTS AND
DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTION 5-1401 AND 5-1402 OF
THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 9. <U>Successors and Assigns</U>. This Amendment shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors and assigns.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 10. <U>Headings</U>. The Section headings in this Amendment are inserted
for convenience of reference only and shall not affect the meaning or interpretation of this
Amendment or any provision hereof.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 11. <U>Counterparts</U>. This Amendment may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of which shall
constitute together but one and the same agreement. Delivery of an executed counterpart of a
signature page to this Amendment by facsimile or electronic transmission shall be effective as
delivery of a manually executed counterpart hereof.



<P align="left" style="margin-left:1%; font-size: 12pt; text-indent: 3%">SECTION 12. <U>Severability</U>. Each provision of this Amendment shall be severable from
every other provision of this Amendment for the purpose of determining the legal enforceability
of any provision hereof, and the unenforceability of one or more provisions of this Amendment in
one jurisdiction shall not have the effect of rendering such provision or provisions
unenforceable in any other jurisdiction.


<P align="center" style="font-size: 12pt">&#091;Signature Pages Follow&#093;



<P align="left" style="margin-left:1%; margin-right:1%; font-size: 12pt; text-indent: 3%"><FONT style="font-size: 11pt">IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their respective officers thereunto duly authorized as of the date first above written.
</FONT>

<P align="left" style="margin-left:23%; margin-right:9%; font-size: 11pt"><B>ENERGY SERVICES FUNDING CORPORATION</B>


<P align="left" style="margin-left:23%; margin-right:9%; font-size: 11pt; text-indent: 1%">By: <U>/s/ Daniel J.<BR>
Platt</U><BR>
<BR>
<BR>
Name: Daniel J. Platt<BR>
Title: Treasurer



<P align="left" style="margin-left:23%; font-size: 11pt"><B>UGI ENERGY SERVICES, LLC</B>


<P align="left" style="margin-left:23%; margin-right:9%; font-size: 11pt; text-indent: 1%">By: <U>/s/ Daniel J.<BR>
Platt</U><BR>
<BR>
<BR>
Name: Daniel J. Platt<BR>
Title: Treasurer


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="23%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right"><B>&nbsp;</B></TD>
    <TD width="1%"><B>&nbsp;</B></TD>
    <TD><B>PNC
BANK, NATIONAL ASSOCIATION,</B></TD>
    <TD width="1%" style="background: transparent">&nbsp;</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="23%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as
Issuer and Administrator</TD>
    <TD width="1%" style="background: transparent">&nbsp;</TD>
</TR>

</TABLE>


<P align="left" style="margin-left:23%; margin-right:9%; font-size: 11pt; text-indent: 1%">By: <U>/s/ Eric Bruno</U><BR>
Name: Eric Bruno<BR>
Title: Senior Vice President<BR>



<P align="center" style="font-size: 10pt; display: none">




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