Exhibit 10.22.5.2
FIRST AMENDMENT TO
AMENDED AND RESTATED CREDIT
AGREEMENT
BETWEEN
PRIMEENERGY
CORPORATION
PRIMEENERGY MANAGEMENT
CORPORATION
PRIME OPERATING
COMPANY
EASTERN OIL WELL SERVICE
COMPANY
SOUTHWEST OILFIELD CONSTRUCTION
COMPANY
EOWS MIDLAND
COMPANY
AND
GUARANTY BANK, FSB
AS AGENT AND LETTER OF CREDIT
ISSUER
AND
BNP PARIBAS,
AS CO-DOCUMENTATION
AGENT
AND
JPMORGAN CHASE BANK,
N.A.,
AS CO-DOCUMENTATION
AGENT
AND
THE LENDERS SIGNATORY
HERETO
JULY 17, 2007
REVOLVING LINE OF CREDIT OF UP TO
$150,000,000
REVOLVING LINE OF CREDIT OF UP TO
$10,000,000
TABLE OF CONTENTS
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PAGE
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ARTICLE I
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DEFINITIONS
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1
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1.01
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Terms Defined
Above
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1
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1.02
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Terms Defined
in Agreement
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1
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1.03
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References
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1
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1.04
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Articles and
Sections
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2
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1.05
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Number and
Gender
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2
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ARTICLE II
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AMENDMENTS
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2
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2.01
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Amendment of
Section 5.2
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2
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2.02
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Amendment of
Section 5.3
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2
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2.03
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Amendment of
Section 6.1(c)
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3
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ARTICLE III
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CONDITIONS
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3
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3.01
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Receipt of
Documents
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3
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3.02
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Accuracy of
Representations and Warranties
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3
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3.03
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Matters
Satisfactory to Lenders
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3
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ARTICLE IV
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REPRESENTATIONS
AND WARRANTIES
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3
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ARTICLE V
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RATIFICATION
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4
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ARTICLE VI
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MISCELLANEOUS
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4
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6.01
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Scope of
Amendment
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4
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6.02
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Agreement as
Amended
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4
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6.03
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Parties in
Interest
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4
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6.04
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Rights of Third
Parties
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4
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6.05
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ENTIRE
AGREEMENT
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4
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6.06
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GOVERNING
LAW
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4
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6.07
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JURISDICTION
AND VENUE
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5
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-i-
FIRST AMENDMENT TO
AMENDED AND RESTATED CREDIT
AGREEMENT
This FIRST AMENDMENT TO AMENDED
AND RESTATED CREDIT AGREEMENT (this “ First
Amendment ”) is made and entered into effective as of
July 17, 2007, by and between PRIMEENERGY CORPORATION ,
a Delaware corporation (“ PEC ”), PRIMEENERGY
MANAGEMENT CORPORATION , a New York corporation, PRIME
OPERATING COMPANY , a Texas corporation, EASTERN OIL WELL
SERVICE COMPANY , a West Virginia corporation, SOUTHWEST
OILFIELD CONSTRUCTION COMPANY , an Oklahoma corporation, and
EOWS MIDLAND COMPANY , a Texas corporation (collectively,
the “ Borrower ”), with each other lender that
is a signatory hereto or becomes a signatory hereto as provided in
Section 9.1, (individually, together with its successors and
assigns, a “ Lender ” and collectively together,
with their respective successors and assigns, the “
Lenders ”) and GUARANTY BANK, FSB , a federal
savings bank, as agent for the Lenders (in such capacity, together
with its successors in such capacity pursuant to the terms hereof,
the “ Agent ”) and Letter of Credit Issuer and
BNP PARIBAS as Co-Documentation Agent and JPMORGAN CHASE
BANK, N.A. as Co-Documentation Agent.
WITNESSETH
WHEREAS, the above named parties did
execute and exchange counterparts of that certain Credit Agreement
dated December 28, 2006 (the “ Agreement
”), to which reference is here made for all
purposes;
WHEREAS, the parties subject to and
bound by the Agreement are desirous of amending the Agreement in
the particulars hereinafter set forth;
NOW, THEREFORE, in consideration of
the mutual covenants and agreements of the parties to the
Agreement, as set forth therein, and the mutual covenants and
agreements of the parties hereto, as set forth in this First
Amendment, the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
1.01 Terms Defined Above . As
used herein, each of the terms “ Agent ,”
“ Agreement ,” “ Borrower ,”
“ First Amendment ,” “ Lender
” and “ Lenders ” and shall have the
meaning assigned to such term hereinabove.
1.02 Terms Defined in
Agreement . As used herein, each term defined in the Agreement
shall have the meaning assigned thereto in the Agreement, unless
expressly provided herein to the contrary.
1.03 References . References
in this First Amendment to Article or Section numbers shall be to
Articles and Sections of this First Amendment, unless expressly
stated herein to the contrary. References in this First Amendment
to “hereby,” “herein,” hereinafter,”
hereinabove,” “hereinbelow,”
“hereof,” and “hereunder” shall be to this
First Amendment in its entirety and not only to the particular
Article or Section in which such reference appears.
1
1.04 Articles and Sections .
This First Amendment, for convenience only, has been divided into
Articles and Sections and it is understood that the rights, powers,
privileges, duties, and other legal relations of the parties hereto
shall be determined from this First Amendment as an entirety and
without regard to such division into Articles and Sections and
without regard to headings prefixed to such Articles and
Sections.
1.05 Number and Gender .
Whenever the context requires, reference herein made to the single
number shall be understood to include the plural and likewise the
plural shall be understood to include the singular. Words denoting
sex shall be construed to include the masculine, feminine, and
neuter, when such construction is appropriate, and specific
enumeration shall not exclude the general, but shall be construed
as cumulative. Definitions of terms defined in the singular and
plural shall be equally applicable to the plural or singular, as
the case may be.
ARTICLE II
AMENDMENTS
The Borrower and the Lender hereby
amend the Agreement in the following particulars:
2.01 Amendment of
Section 5.2 . Section 5.2 of the Agreement is hereby
amended as follows:
“5.2 Quarterly Financial
Statements; Compliance Certificates . Deliver to the Agent,
(a) on or before the 45th day after the close of each of the
first three quarterly periods of each fiscal year of the Borrower,
a copy of the unaudited consolidated Financial Statements of PEC
and its Subsidiaries and Affiliates as at the close of such
quarterly period and from the beginning of such fiscal year to the
end of such period, such Financial Statements to be certified by a
Responsible Officer of the Borrower as having been prepared in
accordance with GAAP consistently applied and as a fair
presentation of the condition of the Borrower, subject to changes
resulting from normal year-end audit adjustments, and (b) on
or before the 60th day after the