Exhibit
10.1
JOINDER AGREEMENT
This JOINDER
AGREEMENT (the “ Joinder Agreement ”) is made as
of the 13 th
day of November, 2008 by and
among BERRY PETROLEUM COMPANY, a Delaware corporation
(“ Borrower ”), WELLS FARGO BANK, NATIONAL
ASSOCIATION, individually and as LC Issuer, Swing Line Lender and
Administrative Agent (in such capacity, “
Administrative Agent ”), and BANK OF MONTREAL
(“New Lender”).
RECITALS
Borrower, Administrative Agent, LC Issuer, Swing
Line Lender and the Lenders named therein are parties to that
certain Amended and Restated Credit Agreement dated as of July 15,
2008 (as amended to the date hereof and as otherwise amended,
supplemented, restated, increased, extended or otherwise modified
from time to time, the “ Credit Agreement
”). All terms used herein and not otherwise
defined shall have the same meaning given to them in the Credit
Agreement.
Pursuant to Section 2.10 of the Credit
Agreement, Borrower has the right to cause from time to time an
increase in the Commitments and the Aggregate Commitment by adding
to the Credit Agreement, subject to the approval of the
Administrative Agent, LC Issuer and Swing Line Lender, an
additional Lender which is an Eligible Assignee; provided however
(i) no Default shall exist, (ii) no such increase shall
result in the Aggregate Commitments exceeding $1,250,000,000, and
(iii) no such increase shall be in an amount less than
$5,000,000.
AGREEMENT
1. Borrower and New
Lender hereby agree that, from and after the date hereof, New
Lender shall have the Commitment as set forth on the attached
Supplement to Schedule 1 . By its execution
and delivery of this Joinder Agreement, New Lender hereby assumes
all of the rights and obligations of a Lender under the Credit
Agreement to the extent of such Commitment. Such
Commitment of New Lender shall represent an increase in the
Commitments and the Aggregate Commitment pursuant to Section
2.10 of the Credit Agreement.
2. Administrative
Agent, LC Issuer, Swing Line Lender and Borrower hereby consent to
and approve the Commitment of New Lender and such resulting
increase in the Aggregate Commitment pursuant to Section
2.10 of the Credit Agreement.
3. New Lender hereby
represents and warrants as follows: (a) it has full power and
authority, and has taken all action necessary to execute and
deliver this Joinder Agreement, to consummate the transactions
contemplated hereby and to become a Lender under the Credit
Agreement, (b) it meets all requirements of an Eligible Assignee
under the Credit Agreement (subject to receipt of any consents that
may be required under the Credit Agreement), (c) from and after the
Increase Effective Date (hereinafter defined), it shall, to the
extent of its Commitment, be bound by the provisions of the Credit
Agreement as a Lender thereunder, and, to the extent of its
Commitment, shall have the obligations of a Lender thereunder, (d)
it has received a copy of the Credit Agreement, together with
copies of the most recent financial statements delivered pursuant
to Section 6.2 (a) and (b) thereof, as applicable, and
such other documents and information as it has deemed appropriate
to make its own credit analysis and decision to enter into this
Joinder Agreement on the basis of which it has made such analysis
and decision independently and without reliance on Administrative
Agent or any other Lender, and (e) if it is a Foreign Lender,
attached to this Joinder Agreement is any documentation required to
be delivered by it pursuant to the terms of the Credit Agreement,
duly completed and
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