This Loan Agreement involves
Title: FIFTH AMENDMENT TO SECOND LIEN SENIOR TERM LOAN AGREEMENT
Industry: Oil and Gas Operations Sector: Energy
FIFTH AMENDMENT TO SECOND LIEN SENIOR TERM LOAN AGREEMENT
THIS FIFTH AMENDMENT TO SECOND LIEN SENIOR TERM LOAN AGREEMENT (this “ Fifth Amendment ”) is entered into as of November 16, 2009, among QUEST CHEROKEE, LLC, a Delaware limited liability company (the “ Borrower ”), QUEST ENERGY PARTNERS, L.P., a Delaware limited partnership (the " MLP "), QUEST CHEROKEE OILFIELD SERVICE, LLC, a Delaware limited liability company (" QCOS "), STP NEWCO, INC., an Oklahoma corporation (“ STP ”; STP, QCOS and MLP collectively called the “ Guarantors ” and individually a “ Guarantor ”), ROYAL BANK OF CANADA, as Administrative Agent and Collateral Agent for the Lenders parties to the hereinafter defined Term Loan Agreement (in such capacities, the “ Administrative Agent ” and “ Collateral Agent ,” respectively), KEYBANK NATIONAL ASSOCIATION, as Syndication Agent (in such capacity, the “ Syndication Agent ”), SOCIÉTÉ GÉNÉRALE, as Documentation Agent (in such capacity, the “ Documentation Agent ”), and the undersigned Lenders comprising all the Lenders.
Reference is made to the Second Lien Senior Term Loan Agreement dated as of July 11, 2008 among Borrower, the Administrative Agent, the Collateral Agent, the Syndication Agent, the Documentation Agent and the Lenders parties thereto, as amended by a First Amendment to Second Lien Senior Term Loan Agreement dated as of October 28, 2008, a Second Amendment to Second Lien Senior Term Loan Agreement dated as of June 30, 2009, a Third Amendment to Second Lien Senior Term Loan Agreement dated as of September 30, 2009 and a Fourth Amendment to Second Lien Senior Term Loan Agreement dated as of October 30, 2009 (as amended, the “ Term Loan Agreement ”). Unless otherwise defined in this Fifth Amendment, capitalized terms used herein shall have the meaning set forth in the Term Loan Agreement; all section, exhibit and schedule references herein are to sections, exhibits and schedules in the Term Loan Agreement; and all paragraph references herein are to paragraphs in this Fifth Amendment.
A. The Borrower, Administrative Agent, the Syndication Agent, the Documentation Agent and Lenders desire to enter into this Fifth Amendment.
Accordingly, for adequate and sufficient consideration, the parties hereto agree, as follows:
Paragraph 1. Amendments . Effective as of the Fifth Amendment Effective Date (hereinafter defined), the Term Loan Agreement is amended as follows:
Definitions . Section 1.01 of the Term Loan Agreement is amended as follows:
The following definitions are amended in their entirety to read as follows:
“ Agreement means this Credit Agreement as amended by the First Amendment to Credit Agreement, Second Amendment to Credit Agreement, Third Amendment to Credit Agreement, Fourth Amendment to Credit Agreement and Fifth Amendment to Credit Agreement.”
“ Maturity Date means (a) November 20, 2009 or (b) such earlier date as a result of any acceleration pursuant to Section 8.02(a) .” (b) The following definitions are inserted alphabetically into Section 1.01 of the Term Loan Agreement:
“ Fifth Amendment Effective Date means November 16, 2009.”
“ Fifth Amendment to Credit Agreement means that certain Fifth Amendment to Second Lien Senior Term Loan Agreement dated as of November 16, 2009, among the Borrower, Royal Bank of Canada, as Administrative Agent, Collateral Agent and as a Lender, KeyBank National Association, as Syndication Agent and as a Lender, Société Générale, as Documentation Agent and as a Lender, and the Lenders party thereto.”
Paragraph 2. Effective Date . This Fifth Amendment shall not become effective until the date (such date, the “ Fifth Amendment Effective Date ”) the Administrative Agent receives all of the agreements, documents, certificates, instruments, and other items described below:
(a) this Fifth Amendment, executed by the Borrower, the Guarantors, the Administrative Agent, the Syndication Agent, the Documentation Agent and all the Lenders.
Paragraph 3 . Acknowledgment and Ratification . The Borrower and the Guarantors each (i) consent to the agreements in this Fifth Amendment and (ii) agree and acknowledge that the execution, delivery, and performance of this Fifth Amendment shall in no way release, diminish, impair, reduce, or otherwise affect the respective obligations of the Borrower or any Guarantor under the Loan Documents to which it is a party, which Loan Documents shall remain in full force and effect, as amended and waived hereby, and all rights thereunder are hereby ratified and confirmed.
Paragraph 4. Representations . The Borrower and the Guarantors each represent and warrant to the Administrative Agent and the Lenders that as of the Fifth Amendment Effective Date and after giving effect to the waivers and amendments set forth in this Fifth Amendment (a) all representations and warranties in the Loan Documents are true and correct in all material respects as though made on the date hereof, except to the extent that any of them speak to a different specific date, and (b) no Default or Event of Default exists.
Paragraph 5. Expenses . The Borrower shall pay on demand all reasonable costs, fees, and expenses paid or incurred by the Administrative Agent incident to this Fifth Amendment, including, without limitation, Attorney Costs in connection with the negotiation, preparation, delivery, and execution of this Fifth Amendment and any related documents, filing and recording costs, and the costs of title insurance endorsements, if any.
Paragraph 6. Miscellaneous . This Fifth Amendment is a “Loan Document” referred to in the Term Loan Agreement. The provisions relating to Loan Documents in Article X of the Term Loan Agreement are incorporated in this Fifth Amendment by reference. Unless stated otherwise (i) the singular number includes the plural and vice versa and words of any gender include each other ge