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Exhibit 10.1
FIFTH AMENDMENT TO CREDIT
AGREEMENT
THIS AGREEMENT is made on
May 30, 2009.
BETWEEN:
DALEA PARTNERS, LP.
,
as Lender
AND:
TRANSATLANTIC PETROLEUM
CORP. ,
as Borrower
WHEREAS:
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A.
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The parties
hereto entered into a credit agreement made as of November 28,
2008 (the “ Credit Agreement ”) wherein the
Lender agreed to establish the Loan in favor of the
Borrower;
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B.
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The parties
hereto entered into a First Amendment to Credit Agreement effective
January 21, 2009;
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C.
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The parties
hereto entered into a Second Amendment to Credit Agreement
effective February 4, 2009;
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D.
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The parties
hereto entered into a Third Amendment to Credit Agreement effective
February 11, 2009;
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E.
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The parties
hereto entered into a Fourth Amendment to Credit Agreement
effective April 1, 2009;
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F.
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The parties
hereto have agreed to further amend the Credit Agreement, as herein
set out.
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NOW THEREFORE THIS AGREEMENT
WITNESSES THAT in consideration of the premises and of other good
and valuable consideration (the receipt whereof is hereby
acknowledged), the parties hereto agree as follows:
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1.
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Unless
otherwise defined herein or unless the context otherwise requires,
defined words and terms used in the Credit Agreement shall have the
same meanings when used herein.
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2.
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The Credit
Agreement shall be and is hereby modified as follows:
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(a)
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Paragraph 1(g)
(“Commitment Termination Date”) shall be amended by
replacing May 30, 2009” with “June 30,
2009”;
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3.
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The Credit
Agreement, together with all terms, covenants and conditions
thereof as hereby supplemented and amended, will be and continue to
be in full force and effect.
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