Kayne Anderson Energy Infrastructure Fund : Series PP and QQ Notes Purchase Agreement dated 5/11/21

Execution Version

KAYNE ANDERSON ENERGY INFRASTRUCTURE FUND, INC.

$50,000,000 Floating Rate Series PP Senior Unsecured Notes due June 19, 2026

$20,000,000 1.81% Series QQ Senior Unsecured Notes due June 19, 2025

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NOTE PURCHASE AGREEMENT

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Dated as of May 11, 2021

4833-7863-0373 v8.docx

4352050

	TABLE OF CONTENTS
SECTION	HEADING	PAGE
SECTION 1.	AUTHORIZATION OF NOTES .........................................................................	1
Section 1.1.	Description of the Notes .......................................................................	1
Section 1.2.	Interest Rate ..........................................................................................	1
Section 1.3.	Benchmark Replacement for Floating Rate Notes................................	2
SECTION 2.	SALE AND PURCHASE OF NOTES ..................................................................	4
SECTION 3.	CLOSING ......................................................................................................	4
SECTION 4.	CONDITIONS TO CLOSING.............................................................................	4
Section 4.1.	Representations and Warranties............................................................	4
Section 4.2.	Performance; No Default ......................................................................	4
Section 4.3.	Compliance Certificates........................................................................	5
Section 4.4.	Opinions of Counsel .............................................................................	5
Section 4.5.	Purchase Permitted By Applicable Law, Etc........................................	5
Section 4.6.	Sale of Other Notes...............................................................................	5
Section 4.7.	Payment of Special Counsel Fees .........................................................	5
Section 4.8.	Private Placement Number ...................................................................	6
Section 4.9.	Changes in Corporate Structure ............................................................	6
Section 4.10.	Funding Instructions .............................................................................	6
Section 4.11.	Rating of Notes .....................................................................................	6
Section 4.12.	Notice of Adjusted LIBOR Rate...........................................................	6
Section 4.13.	Proceedings and Documents .................................................................	6
SECTION 5.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY ...........................	7
Section 5.1.	Organization; Power and Authority ......................................................	7
Section 5.2.	Authorization, Etc .................................................................................	7
Section 5.3.	Disclosure .............................................................................................	7
Section 5.4.	No Subsidiaries .....................................................................................	7
Section 5.5.	Financial Statements; Material Liabilities ............................................	7
Section 5.6.	Compliance with Laws, Other Instruments, Etc ...................................	8
Section 5.7.	Governmental Authorizations, Etc........................................................	8
Section 5.8.	Litigation; Observance of Statutes and Orders .....................................	8
Section 5.9.	Taxes .....................................................................................................	8
Section 5.10.	Title to Property; Leases .......................................................................	9
Section 5.11.	Licenses, Permits, Etc ...........................................................................	9
Section 5.12.	Compliance with ERISA.......................................................................	9
Section 5.13.	Private Offering by the Company .........................................................	9
Section 5.14.	Use of Proceeds; Margin Regulations...................................................	9
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Section 5.15.	Existing Indebtedness ...........................................................................	9
Section 5.16.	Foreign Assets Control Regulations, Etc ............................................	10
Section 5.17.	Status under Certain Statutes ..............................................................	11
Section 5.18.	Ranking of Obligations .......................................................................	11
SECTION 6.	REPRESENTATIONS OF THE PURCHASERS...................................................	11
Section 6.1.	Purchase for Investment......................................................................	11
Section 6.2.	Source of Funds ..................................................................................	11
SECTION 7.	INFORMATION AS TO THE COMPANY ..........................................................	13
Section 7.1.	Financial and Business Information....................................................	13
Section 7.2.	Officer's Certificate ............................................................................	16
Section 7.3.	Visitation.............................................................................................	17
SECTION 8.	PAYMENT AND PREPAYMENT OF THE NOTES .............................................	17
Section 8.1.	Maturity and Payment.........................................................................	17
Section 8.2.	Optional Prepayments with Make-Whole Amount and
	Special Optional Prepayments ............................................................	17
Section 8.3.	Allocation of Partial Prepayments ......................................................	20
Section 8.4.	Maturity; Surrender, Status, Etc..........................................................	20
Section 8.5.	Purchase of Notes ...............................................................................	20
Section 8.6.	Make-Whole Amount; Prepayment Premium ....................................	21
Section 8.7.	Adjustment Period ..............................................................................	23
SECTION 9.	AFFIRMATIVE COVENANTS ........................................................................	23
Section 9.1.	Compliance with Law .........................................................................	23
Section 9.2.	Insurance .............................................................................................	23
Section 9.3.	Maintenance of Properties ..................................................................	24
Section 9.4.	Payment of Taxes................................................................................	24
Section 9.5.	Corporate Existence, Etc.....................................................................	24
Section 9.6	Books and Records .............................................................................	24
Section 9.7.	Asset Coverage ...................................................................................	24
Section 9.8.	Current Rating on the Notes ...............................................................	24
Section 9.9.	Most Favored Lender Status ...............................................................	25
Section 9.10.	Ranking of Obligations .......................................................................	25
Section 9.11.	Maintenance of Status.........................................................................	25
SECTION 10.	NEGATIVE COVENANTS .............................................................................	26
Section 10.1.	Transactions with Affiliates................................................................	26
Section 10.2.	Merger, Consolidation, Etc .................................................................	26
Section 10.3.	Economic Sanctions, Etc ....................................................................	26
Section 10.4.	Certain Other Restrictions...................................................................	27
Section 10.5.	No Subsidiaries ...................................................................................	27
Section 10.6.	Secured Debt.......................................................................................	27
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Section 10.7.	Level 3 Assets .....................................................................................	27
SECTION 11.	EVENTS OF DEFAULT .................................................................................	28
SECTION 12.	REMEDIES ON DEFAULT, ETC.....................................................................	30
Section 12.1.	Acceleration ........................................................................................	30
Section 12.2.	Other Remedies...................................................................................	31
Section 12.3.	Rescission ...........................................................................................	31
Section 12.4.	No Waivers or Election of Remedies, Expenses, Etc .........................	31
SECTION 13.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES..............................	31
Section 13.1.	Registration of Notes ..........................................................................	31
Section 13.2.	Transfer and Exchange of Notes.........................................................	32
Section 13.3.	Replacement of Notes .........................................................................	32
SECTION 14.	PAYMENTS ON NOTES ................................................................................	33
Section 14.1.	Place of Payment.................................................................................	33
Section 14.2.	Home Office Payment.........................................................................	33
Section 14.3.	Agency Agreement .............................................................................	33
Section 14.3.	FATCA Information ...........................................................................	34
SECTION 15.	EXPENSES, ETC ..........................................................................................	34
Section 15.1.	Transaction Expenses..........................................................................	34
Section 15.2.	Certain Taxes ......................................................................................	34
Section 15.2.	Survival ...............................................................................................	35
SECTION 16.	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE
	AGREEMENT ..............................................................................................	35
SECTION 17.	AMENDMENT AND WAIVER .......................................................................	35
Section 17.1.	Requirements ......................................................................................	35
Section 17.2.	Solicitation of Holders of Notes .........................................................	35
Section 17.3.	Binding Effect, Etc..............................................................................	36
Section 17.4.	Notes Held by Company, Etc..............................................................	36
SECTION 18.	NOTICES.....................................................................................................	37
SECTION 19.	REPRODUCTION OF DOCUMENTS................................................................	37
SECTION 20.	CONFIDENTIAL INFORMATION....................................................................	37
SECTION 21.	SUBSTITUTION OF PURCHASER...................................................................	39
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SECTION 22.		MISCELLANEOUS .......................................................................................	39
Section 22.1.		Successors and Assigns.......................................................................	39
Section 22.2.		Payments Due on Non-Business Days................................................	39
Section 22.3.		Accounting Terms...............................................................................	39
Section 22.4.		Severability .........................................................................................	40
Section 22.5.		Construction, Etc.................................................................................	40
Section 22.6.		Counterparts; Electronic Contracting .................................................	41
Section 22.7.		Governing Law ...................................................................................	41
Section 22.8.		Jurisdiction and Process; Waiver of Jury Trial ...................................	41
Signature .........................................................................................................................................		1
SCHEDULE A	- Information Relating to Purchasers
SCHEDULE B	-	Defined Terms
SCHEDULE 5.3	-	Disclosure Materials
SCHEDULE 5.5	-	Financial Statements
SCHEDULE 5.15	-	Existing Indebtedness
EXHIBIT 1-A	- Form of Floating Rate Series PP Senior Unsecured Notes due June 19,
		2026
EXHIBIT 1-B	- Form of 1.81% Series QQ Senior Unsecured Notes due June 19, 2025
EXHIBIT 4.4(a)	- Form of Opinion of Special Counsel to the Company
EXHIBIT 4.4(b)	- Form of Opinion of Special Counsel to the Purchasers
EXHIBIT 13.1	-	Form of Legend
EXHIBIT 14.3	- Form of Agency Agreement

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