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Exhibit
10.39
FOURTH AMENDMENT
TO
5-YEAR REVOLVING CREDIT
AGREEMENT
dated as
of
February 6,
2008
among
XTO ENERGY
INC.,
as
Borrower,
JPMORGAN CHASE BANK,
N.A.,
as Administrative
Agent,
and
The Lenders Party
Hereto
BANK OF AMERICA,
N.A.,
BNP
PARIBAS,
SUNTRUST
BANK,
and
WACHOVIA BANK, NATIONAL
ASSOCIATION,
as Co-Syndication
Agents
and
THE BANK OF
TOKYO-MITSUBISHI UFJ, LTD.
CITIBANK,
N.A.,
BMO CAPITAL MARKETS
FINANCING, INC.,
and
THE ROYAL BANK OF SCOTLAND
PLC,
as Co-Documentation
Agents
J.P. MORGAN SECURITIES
INC. and BANC OF AMERICA SECURITIES LLC,
as Co-Arrangers and Joint
Bookrunners
FOURTH AMENDMENT TO 5-YEAR
REVOLVING CREDIT AGREEMENT
THIS FOURTH AMENDMENT TO
5-YEAR REVOLVING CREDIT AGREEMENT (this “ Fourth
Amendment ”) dated as of February 6, 2008, is among
XTO ENERGY INC. , a Delaware corporation, as the Borrower,
JPMORGAN CHASE BANK, N.A. , as Administrative Agent,
JPMORGAN CHASE BANK, N.A. , BANK OF AMERICA, N.A.,
and U.S. BANK NATIONAL ASSOCIATION , as Issuing Banks, and
the Lenders party hereto.
R E C I T A L
S
A. The Borrower, the
Administrative Agent and the Lenders are parties to that certain
Amended and Restated 5-Year Revolving Credit Agreement dated as of
April 1, 2005 (as amended by the First Amendment to 5-Year
Revolving Credit Agreement dated as of March 10, 2006, the
Second Amendment to 5-Year Revolving Credit Agreement dated as of
October 25, 2006 and the Third Amendment to 5-Year Revolving
Credit Agreement dated as of March 19, 2007, the “
Credit Agreement ”), pursuant to which the Lenders
have made certain loans to and extensions of credit for the account
of the Borrower.
B. The Borrower has requested
and the Lenders have agreed to amend certain provisions of the
Credit Agreement.
C. NOW, THEREFORE, in
consideration of the premises and the mutual covenants herein
contained, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
Section 1. Defined Terms . Each
capitalized term used herein but not otherwise defined herein has
the meaning given such term in the Credit Agreement. Unless
otherwise indicated, all article and section references in this
Fourth Amendment refer to articles and sections of the Credit
Agreement.
Section 2. Amendments to Credit
Agreement .
2.1 Amendments to
Section 1.01 .
(a) The definition of “
Agreement ” is hereby amended in its entirety to read
as follows:
“ Agreement
” means this Amended and Restated 5-Year Revolving Credit
Agreement, as amended by the First Amendment, the Second Amendment,
the Third Amendment and the Fourth Amendment, as the same may from
time to time be amended, modified, restated, or replaced from time
to time.
(b) The definition of “
Maturity Date ” is hereby amended in its entirety to
read as follows:
“ Maturity Date
” means April 1, 2013, and for any Lender agreeing to
extend its Maturity Date pursuant to Section 2.05, the date on
April 1 in each year thereafter pursuant to which the Maturity
Date has been extended.
(c) The following definitions
are hereby added where alphabetically appropriate to read as
follows:
“ Extension
Confirmation Date ” has the meaning set forth in
Section 2.05(b).
“ Fourth
Amendment ” means the Fourth Amendment to 5-Year
Revolving Credit Agreement dated as of February 6, 2008 among
the Borrower and the Lenders party thereto.
2.2 Amendment to
Section 2.02(a) . Section 2.02(a) is hereby amended
by replacing “$3,000,000,000” in the tenth line thereof
with “$3,500,000,000”.
2.3 Amendment to
Section 2.05(b) . Section 2.05(b) is hereby amended
by amending and restating the second, third and fourth sentences
thereof in their entirety to read as follows:
“If so extended, the
Maturity Date, as to the Consenting Lenders, shall be extended to
the same date in the year following the Maturity Date then in
effect (such existing Maturity Date being the “ Extension
Effective Date ”). The Administrative Agent and the
Borrower shall promptly confirm to the Lenders such extension,
specifying the date of such confirmation (the “ Extension
Confirmation Date ”), the Extension Effective Date, and
the new Maturity Date (after giving effect to such extension). As a
condition precedent to such extension, the Borrower shall deliver
to the Administrative Agent a certificate of the Borrower dated as
of the Extension Confirmation Date signed by a Responsible Officer
of the Borrower (i) certifying and attaching the resolutions
adopted by the Borrower approving or consenting to such extension
and (ii) certifying that, (A) before and after giving
effect to such extension, the representations and warranties
contained in Article III made by it are true and correct on and as
of the Extension Confirmation Date, except to the extent that such
representations and warranties specifically refer to an earlier
date, (B) before and after giving effect to such extension no
Default exists or will exist as of the Extension Confirmation Date,
and (C) since December 31, 2006, no event, development or
circumstance that has had or could reasonably be expected to have a
Material Adverse Effect has occurred.”
2.1 Amendments to
Section 9.04 . Section 9.04(b) is hereby amended as
follows:
(a)
Section 9.04(b)(i)(A) is hereby amended by adding the
following at the end thereof:
“; and provided further
that no consent of the Borrower shall be required with respect to
an assignment by any Lender to any assignee in the circumstance
where it becomes illegal for such Lender to do business with any
Subsidiary Guarantor that has executed and delivered a Subsidiary
Guaranty”
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(b)
Section 9.04(b)(i)(B) is hereby amended by adding the
following at the end thereof:
“; and provided further
that with respect to an assignment by any Lender in the
circumstance where it becomes illegal for such Lender to do
business with any Subsidiary Guarantor that has executed and
delivered a Subsidiary Guaranty, no consent of the Administrative
Agent shall be required for an assignment to any assignee, and no
consent of any Issuing Bank shall be required for an assignment of
any Commitment to an assignee that is a Lender with a Commitment
immediately prior to giving effect to such assignment, an Affiliate
of such a Lender or an Approved Fund”
2.2 Amendments to
Schedules . Schedule 2.01 and Schedule 3.06 of the Credit
Agreement are hereby amended in their entirety to read as set forth
on Schedule 2.01 and Schedule 3.06 hereto, respectively.
2.3 References to
Co-Syndication Agents . SunTrust Bank is hereby added to the
Credit Agreement as a Co-Syndication Agent and shall cease to be a
Co-Documentation Agent under the Credit Agreement.
Section 3. Conditions Precedent .
This Fourth Amendment shall not become effective until the date on
which each of the following conditions is satisfied (or waived in
accordance with Section 9.02(b) of the Credit Agreement) (the
“ Effective Date ”):
3.1 The Administrative Agent
and the Lenders shall have received all fees and other amounts due
and payable, if any, in connection with this Fourth Amendment on or
prior to the Effective Date.
3.2 The Administrative Agent
shall have received from the Lenders and the Borrower, counterparts
(in such number as may be requested by the Administrative Agent) of
this Fourth Amendment signed on behalf of such Persons.
3.3 The Administrative Agent
shall have received a favorable written opinion (addressed to the
Administrative Agent and the Lenders and dated the Effective Date)
of counsel for the Borrower, in form and substance satisfactory to
the Administrative Agent.
3.4 The Administrative Agent
shall have received such other documents as the Administrative
Agent or special counsel to the Administrative Agent may reasonably
request.
3.5 No Default shall have
occurred and be continuing, after giving effect to the terms of
this Fourth Amendment.
3.6 The Administrative Agent
shall have received a certificate of the Secretary or an Assistant
Secretary of the Borrower and setting forth (a) resolutions of
its board of directors with respect to the authorization of the
Borrower to execute and deliver this Fourth Amendment and to enter
into the transactions contemplated hereby, (b) the officers of
the Borrower (i) who are authorized to sign this Fourth
Amendment and (ii) who will, until replaced by another officer
or
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officers duly authorized for that
purpose, act as its representative for the purposes of signing
documents and giving notices and other communications in connection
with this Fourth Amendment and the transactions contemplated
hereby, (c) specimen signatures of such authorized officers,
and (d) that no changes have occurred to the articles or
certificate of incorporation and bylaws of the Borrower since
April 1, 2005 except as set forth in such certificate. The
Administrative Agent and the Lenders may conclusively rely on such
certificate until the Administrative Agent receives notice in
writing from the Borrower to the contrary.
3.7 The Administrative Agent
shall have received certificates of the appropriate State agencies
with respect to the existence, qualification and good standing of
the Borrower.
Section 4. Miscellaneous
.
4.1 Commitment Increase
Pursuant to Section 2.02 . The Borrower has heretofor
requested pursuant to Section 2.02 that the aggregate amount
of the Lenders’ Commitments be increased to $2,500,000,000.
Pursuant to Section 2.02, effective on the Effective Date
(which date shall constitute the “Commitment Increase
Effective Date” for purposes of Section 2.02):
(a) the aggregate amount of the Lenders’ Commitments
shall be increased to $2,500,000,000 and (b) the Commitment of
each Lender shall, without any further action (including, without
the execution of any Assignment and Assumption or any other
documentation or the payment of any processing and recordation fee
to the Administrative Agent), be the Commitment specified for such
Lender on the attached Schedule 2.01; and Schedule 2.01 of the
Credit Agreement is hereby replaced with the attached Schedule
2.01. Compass Bank and Export Development Canada are each hereby
added as a CI Lender with the Commitment specified for it on the
attached Schedule 2.01. Each of the Administrative Agent, the
Issuing Banks and the Lenders hereby waives all timing and notice
requirements of Section 2.02, including, without limitation,
the obligation of the Borrower to deliver a Notice of Commitment
Increase (and the Administrative Agent’s obligation to
respond thereto). Except as expressly waived as aforesaid, the
provisions of Section 2.02 shall otherwise apply (including
the provisions of Section 2.02(c)).
4.2 Waivers . All
waivers contained herein are hereby granted to the extent and only
to the extent specifically stated herein and for no other purpose
or period and shall not be deemed to (A) be a consent or
agreement to, or waiver or modification of, any other term or
condition of the Credit Agreement, any other Loan Document or any
of the documents referred to therein, or (B) except as
expressly set forth herein, prejudice any right or rights which the
Administrative Agent, the Issuing Banks or the Lenders may now have
or may have in the future under or in connection with the Credit
Agreement, any other Loan Document or any of the documents referred
to therein. Granting the waivers and consent set forth herein does
not and should not be construed to be an assurance or promise that
waivers or consents will be granted in the future, whether for the
matters herein stated or on other unrelated matters.
4.3 Confirmation . The
provisions of the Credit Agreement, as amended by this Fourth
Amendment, shall remain in full force and effect following the
effectiveness of this Fourth Amendment.
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4.4 Ratification and
Affirmation; Representations and Warranties . The Borrower
hereby (a) ratifies and affirms its obligations under, and
acknowledges, renews and extends its continued liability under,
each Loan Document to which it is a party and agrees that each Loan
Document to which it is a party remains in full force and effect,
except as expressly amended hereby, notwithstanding the amendments
contained herein and (b) represents and warrants to the
Lenders that as of the date hereof, after giving effect to the
terms of this Fourth Amendment: (i) all of the representations
and warranties contained in each Loan Document to which it is a
party are true and correct, except to the extent any such
representations and warranties are expressly limited to an earlier
date, in which case, such representations and warranties shall
continue to be true and correct as of such specified earlier date,
(ii) no Default has occurred and is continuing and
(iii) since December 31, 2006, there has been no event,
development or circumstance that has had or could reasonably be
expected to have a Material Adverse Effect.
4.5 Loan Document .
This Fourth Amendment is a “Loan Document” as defined
and described in the Credit Agreement and all of the terms and
provisions of the Credit Agreement relating to Loan Documents shall
apply hereto.
4.6 Counterparts .
This Fourth Amendment may be executed by one or more of the parties
hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and
the same instrument. Delivery of this Fourth Amendment by facsimile
transmission shall be effective as delivery of a manually executed
counterpart hereof.
4.7 NO ORAL AGREEMENT
. THIS FOURTH AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN
DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT
THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED
BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE
PARTIES.
4.8 GOVERNING LAW .
THIS FOURTH AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY
AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.
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IN WITNESS WHEREOF, the
parties hereto have caused this Fourth Amendment to be duly
executed as of the date first written above.
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| XTO ENERGY INC. |
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| By: |
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/s/ Brent W. Clum |
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Senior
Vice President & Treasurer |
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Administrative Agent, Issuing
Bank & Lender:
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JPMORGAN CHASE BANK, N.A. |
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By: |
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/s/ Robert
Traband |
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Robert W. Traband
Executive Director
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