<SEC-DOCUMENT>0001299933-17-001114.txt : 20171102
<SEC-HEADER>0001299933-17-001114.hdr.sgml : 20171102
<ACCEPTANCE-DATETIME>20171102164551
ACCESSION NUMBER:		0001299933-17-001114
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171027
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171102
DATE AS OF CHANGE:		20171102

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:		171173127

	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_55524.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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	October 27, 2017
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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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[&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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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</FONT>
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Emerging growth company [&nbsp;&nbsp;]<br>
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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. [&nbsp;&nbsp;]<br>
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	Item 1.01 Entry into a Material Definitive Agreement.
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On October 27, 2017, 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. 18 (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, among other things, (i) extending the Facility Termination Date from October 27, 2017 to October 26, 2018 and (ii) changing the definition of Purchase Limit to mean (x) at any time on or after October 27, 2017 and prior to but excluding May 1, 2018, $150,000,000 and (y) at any time on or after May 1, 2018, $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 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. 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 26, 2018, 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. 18, dated as of October 27, 2017, 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>
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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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	&nbsp;
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<A HREF="exhibit1.htm" >
Amendment No. 18, dated as of October 27, 2017, 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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	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 2, 2017
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	By:
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<I>
	/s/ G. Gary Garcia
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	Name: G. Gary Garcia
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	Title: Treasurer
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<TYPE>EX-10.1
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<P align="center" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>AMENDMENT NO. 18<BR>
Dated as of October&nbsp;27, 2017<BR>
to<BR>
RECEIVABLES PURCHASE AGREEMENT<BR>
Dated as of November&nbsp;30, 2001</B></FONT>



<P align="left" style="font-size: 12pt; text-indent: 4%">This AMENDMENT NO. 18 (this &#147;<U>Amendment</U>&#148;) dated as of October&nbsp;27, 2017 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&nbsp;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&nbsp;&#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&nbsp;administrator (in such
capacity, together with its successors and assigns in such capacity, the&nbsp;&#147;<U>Administrator</U>&#148;).


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



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


<P align="left" style="font-size: 12pt; text-indent: 4%">WHEREAS, concurrently herewith, the Seller, Servicer and PNC are entering into an Twelfth
Amended and Restated Fee Letter (the &#147;<U>Fee Letter</U>&#148;).


<P align="left" style="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">SECTION 2. <U>Amendments to the Agreement</U>. The Agreement is hereby amended as follows:


<P align="left" style="font-size: 12pt; text-indent: 4%">(a)&nbsp;The following new defined term and definition is hereby added to <U>Exhibit&nbsp;I</U> to the
Agreement in appropriate alphabetical order:


<P align="left" style="margin-left:8%; margin-right:4%; font-size: 12pt; text-indent: 4%">&#147;LCR Security&#148; means any commercial paper or security (other than the
Company Notes and other equity securities issued to UGI or any Originator
that is a consolidated subsidiary of UGI under GAAP) within the meaning of
Paragraph <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.32(e)(1)(viii) of the final rules titled Liquidity Coverage
Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq.
(October&nbsp;10, 2014).


<P align="left" style="font-size: 12pt; text-indent: 4%">(b)&nbsp;<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&nbsp;27, 2017&#148; with
the date &#147;October&nbsp;26, 2018&#148; where it appears therein.


<P align="left" style="font-size: 12pt; text-indent: 4%">(c)&nbsp;The definition of &#147;Purchase Limit&#148; set forth in <U>Exhibit&nbsp;I</U> to the Agreement is
hereby replaced in its entirety with the following:


<P align="left" style="margin-left:8%; margin-right:4%; font-size: 12pt; text-indent: 4%">&#147;Purchase Limit&#148; means (i)&nbsp;at any time on or after October&nbsp;27, 2017 and
prior to but excluding May&nbsp;1, 2018, $150,000,000 and (ii)&nbsp;at any time on and
after May&nbsp;1, 2018, $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="font-size: 12pt; text-indent: 4%">(d)&nbsp;<U>Section&nbsp;1(x)</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%">(x) <U>LCR Security</U>. The Seller has not issued any LCR Securities,
and the Seller is a consolidated subsidiary of UGI under GAAP.


<P align="left" style="font-size: 12pt; text-indent: 4%">(e)&nbsp;The following new <U>Section&nbsp;1(s)</U> is hereby added to <U>Exhibit&nbsp;IV</U> to the
Agreement immediately following existing <U>Section&nbsp;1(r)</U> thereof:


<P align="left" style="margin-left:12%; margin-right:4%; font-size: 12pt">(s) <U>LCR Security</U>. The Seller shall not issue any LCR
Security.


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



<P align="left" style="margin-left:4%; font-size: 12pt; text-indent: 4%">(a)&nbsp;counterparts to this Amendment executed by each of the parties hereto; and



<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;<U>Renewal Fee</U>&#148; owing thereunder has been paid in full.


<P align="left" style="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">SECTION 9. <U>Successors and Assigns</U>. This Amendment shall be&nbsp;binding upon and shall
inure to the benefit of the parties hereto and their respective successors and assigns.


<P align="left" style="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">SECTION 11. <U>Counterparts</U>. This Amendment&nbsp;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="font-size: 12pt; text-indent: 4%">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="font-size: 12pt; text-indent: 4%">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.



<P align="left" style="margin-left:23%; font-size: 12pt"><B>ENERGY SERVICES FUNDING CORPORATION</B>

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="64%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD colspan="3" valign="top" align="left">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>/s/ Andrew Koehler&#151;<BR></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;<BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:<BR>
Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Andrew Koehler<BR>
Controller</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>UGI ENERGY SERVICES, LLC</B></TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="67%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD colspan="3" valign="top" align="left">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>/s/ Andrew Koehler&#151;<BR></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;<BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Andrew Koehler</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Title: Controller</TD>
</TR>


</TABLE>

<P align="center" style="font-size: 10pt; display: none">1
<!-- PAGEBREAK -->


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 12pt">



</TABLE>



<P align="left" style="margin-left:23%; font-size: 12pt"><B>PNC BANK, NATIONAL ASSOCIATION</B>,
<BR>
as Issuer and Administrator

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="24%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="71%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD colspan="3" valign="top" align="left">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>/s/ Eric Bruno&#151;<BR></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;<BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:<BR>
Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Eric Bruno<BR>
Senior Vice President</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt; display: none">2




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