EXECUTION
THIRD AMENDMENT TO SECOND LIEN
SENIOR TERM LOAN AGREEMENT
THIS THIRD AMENDMENT TO SECOND LIEN
SENIOR TERM LOAN AGREEMENT (this “ Third
Amendment ”) is entered into as of September 30,
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 ", 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 and a Second Amendment
to Second Lien Senior Term Loan Agreement dated as of June 30, 2009
(as amended, the “ Term Loan Agreement
”). Unless otherwise defined in this Third 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 Third Amendment.
RECITALS
A. The
Borrower, Administrative Agent, the Syndication Agent, the
Documentation Agent and Lenders desire to enter into this Third
Amendment.
Accordingly, for adequate and
sufficient consideration, the parties hereto agree, as
follows:
Paragraph 1.
Amendments . Effective as of the Third
Amendment Effective Date (hereinafter defined), the Term Loan
Agreement is amended as follows:
|
|
1.1
|
Definitions
. Section 1.01
of the Term Loan Agreement is
amended as follows:
|
|
|
(a)
|
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 and Third
Amendment to Credit Agreement.”
“ Maturity Date
means (a) October 31, 2009 or (b) such earlier date as a result of
any acceleration pursuant to Section 8.02(a) or
repayment as a result of a refinancing required pursuant to
Section 6.21 .”
1
Third Amendment to Quest
Cherokee Second Lien Senior
Term Loan Agreement
(b) The
following definitions are inserted alphabetically into
Section 1.01 of the Term Loan Agreement:
“ Third Amendment
Effective Date means September 30, 2009.”
“ Third Amendment to
Credit Agreement means that certain Third Amendment to
Second Lien Senior Term Loan Agreement dated as of September 30,
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 Third Amendment shall not become effective
until the date (such date, the “ Third Amendment
Effective Date ”) the Administrative Agent receives
all of the agreements, documents, certificates, instruments, and
other items described below:
(a) this
Third Amendment, executed by the Borrower, the Guarantors, the
Administrative Agent, the Syndication Agent, the Documentation
Agent and all the Lenders;
(b) fees
and expenses required to be paid pursuant to Paragraph
5 of this Third Amendment, to the extent invoiced prior to
the Third Amendment Effective Date; and
(c) such
other payments, assurances, certificates, documents and consents as
the Administrative Agent may require.
Paragraph 3
.
Acknowledgment and Ratification . The Borrower
and the Guarantors each (i) consent to the agreements in this Third
Amendment and (ii) agree and acknowledge that the execution,
delivery, and performance of this Third 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 Third Amendment Effective Date and
after giving effect to the waivers and amendments set forth in this
Third 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 Third Amendment, including, without