After recording, return to: Winstead PC
Exhibit 10.22.5.14.2
After recording, return to:
Xxxxxxxx PC
0000 X. Xxxxxxx Xx., Xxxxx 000
Xxxxxx, Xxxxx 00000
Attn: Bee Archaphorn
Canadian County, Oklahoma
Xxxxxx County, Oklahoma
Xxxxx County, Oklahoma
SECOND AMENDMENT TO AMENDED, RESTATED AND
CONSOLIDATED MORTGAGE OF OIL
AND GAS PROPERTY, SECURITY AGREEMENT,
ASSIGNMENT OF PRODUCTION AND FINANCING STATEMENT
KNOW ALL MEN BY THESE PRESENTS:
THIS SECOND AMENDMENT TO AMENDED, RESTATED AND CONSOLIDATED MORTGAGE OF OIL AND GAS PROPERTY, SECURITY AGREEMENT, ASSIGNMENT OF PRODUCTION AND FINANCING STATEMENT (this “Amendment”) is made and entered into as of December 20, 2021, between PRIMEENERGY RESOURCES CORPORATION, a Delaware corporation, formerly known as PrimeEnergy Corporation (“Prime”) and PRIMEENERGY MANAGEMENT CORPORATION, a New York corporation (“PEMC,” and Prime and PEMC herein, individually and collectively, “Mortgagor”), and CITIBANK, N.A., as Administrative Agent for the benefit of the Secured Parties (in such capacity and together with its successors and assigns in such capacity, “Mortgagee”).
R E C I T A L S
A. Mortgagor has heretofore executed and delivered that certain Amended, Restated and Consolidated Mortgage of Oil and Gas Property, Security Agreement, Assignment of Production and Financing Statement set forth in Schedule 1 attached hereto (collectively, the “Original Mortgage”) , covering the real property described on Exhibit A hereto, and securing the indebtedness as described therein, to PNC BANK, NATIONAL ASSOCIATION, successor to BBVA USA, which was formerly known as Compass Bank, in its capacity as administrative agent for the Secured Parties and original beneficiary under the Original Mortgage (in such capacity, the “Original Mortgagee”).
B. The Original Mortgage secures, among other things, the payment of all of the indebtedness owed by Mortgagor under that certain Third Amended and Restated Credit Agreement dated as of February 15, 2017, by and among Borrower, Original Mortgagee as Administrative Agent and the lenders party thereto (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”; each capitalized term which is defined in the Credit Agreement, but which is not defined in this Amendment, shall have the meaning ascribed such term in the Credit Agreement), including without limitation the “Secured Obligations” as therein defined.
SECOND AMENDMENT – Page 1
C. Pursuant to that certain Resignation and Appointment Agreement dated as of December 20, 2021, the Original Mortgagee agreed to resign as administrative agent under the Credit Agreement and the other Loan Documents, and Citibank, N.A., has agreed to accept appointment as successor administrative agent thereunder (in such capacity, the “Successor Administrative Agent” or “Administrative Agent”, as applicable).
D. In connection with the foregoing, Mortgagee, Original Mortgagee, Borrower and Lenders have amended the Credit Agreement pursuant to the terms of the Seventh Amendment to Third Amended and Restated Credit Agreement between the parties dated as of December 20, 2021, and the parties hereto desire to amend the Original Mortgage as hereafter provided.
NOW THEREFORE, in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagor does hereby grant, bargain, sell, assign, mortgage with power of sale, transfer, and convey unto Mortgagee, with power of sale, the Mortgaged Properties (as defined in the Original Mortgage), to have and to hold such Mortgaged Properties unto Mortgagee and its successors and assigns, and the parties hereto agree as follows:
1. Same Terms. All terms used herein that are defined in the Original Mortgage shall have the same meanings when used herein, unless the context hereof otherwise requires or provides.
2. Amendments to Original Mortgage.
(a) Each reference to “Compass Bank” in the Original Mortgage is hereby deleted and the reference to “Citibank, N.A.” is hereby inserted in lieu thereof.
(b) The address of the Mortgagee set forth in cover page of the Original Mortgage is hereby amended to read as “0000 Xxxx Xxx, Xxx 0000, Xxxxxx, XX 00000.”
(c) The address set forth in Section 4.2 of the Original Mortgage is hereby amended to read in its entirety as follows:
Citibank, N.A., as Administrative Agent
0000 Xxxx Xxx, Xxx 0000
Xxxxxx, XX 00000
(d) The notice information for Mortgagee set forth in Section 6.9 of the Original Mortgage is hereby amended to read in its entirety as follows:
| If to Mortgagee: |
Citibank, N.A., as Administrative Agent 0000 Xxxx Xxx, Xxx 0000 Xxxxxx, XX 00000 |
3. Certain Representations. Mortgagor represents and warrants that, as of the date hereof: (a) Mortgagor has full power and authority to execute this Amendment, and this Amendment constitutes the legal, valid and binding obligation of Mortgagor, enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other similar laws affecting the enforcement of creditors’ rights generally; and (b) no authorization, approval, consent or other action by, notice to, or filing with, any governmental authority or other person is required for the execution and delivery by Mortgagor of this Amendment, or the performance of this Amendment.
SECOND AMENDMENT – Page 2
4. Ratification and Confirmation. It is expressly agreed that the execution of this Amendment shall not alter or otherwise affect the terms, provisions and conditions of the Original Mortgage EXCEPT as expressly set out above. Mortgagor hereby RATIFIES, CONFIRMS AND AGREES that (a) the Original Mortgage, as amended hereby, shall continue to be in full force and effect to the same extent as provided therein, and (b) the “Secured Obligations” as defined in the Credit Agreement, including without limitation the Notes as defined in the Credit Agreement, are secured by the Original Mortgage, as amended hereby.
5. Limitation on Agreements. The modifications set forth herein are limited precisely as written and shall not be deemed (a) to be a consent under or a waiver of or an amendment to any other term or condition in the Original Mortgage, or (b) to prejudice any right or rights which Mortgagee now has or may have in the future under or in connection with the Original Mortgage, as amended hereby, or any of the other documents referred to herein or therein.
6. Effect of Amendment; Conflicts. This Amendment shall be construed as, and is hereby made a part of, the Original Mortgage, and such instruments (the Original Mortgage and this Amendment) shall be construed and interpreted together as a single instrument, excepting only that in the case of any inconsistency which cannot be reconciled, the terms of this Amendment shall be controlling.
7. Incorporation of Certain Provisions by Reference. The provisions of Section 6.10 of the Original Mortgage captioned “Governing Law” are incorporated herein by reference for all purposes.
8. Continued Effect of Original Mortgage. Nothing in this Amendment shall be construed as in any way releasing, affecting or impairing the lien created by the Original Mortgage against the oil and gas properties described therein. The Original Mortgage shall continue to be in full force and effect against all of the oil and gas properties described therein in order to secure the payment and performance of the indebtedness and obligations secured by the Original Mortgage.
9. Counterparts. This Amendment may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Amendment and all of which, when taken together, will be deemed to constitute one and the same agreement.
10. Entirety. THIS AGREEMENT AND ALL OF THE OTHER LOAN DOCUMENTS (AS DEFINED IN THE ORIGINAL MORTGAGE) REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
11. Miscellaneous. This Amendment shall be considered as an amendment to and ratification of the Original Mortgage, and the Original Mortgage, as herein expressly amended, is hereby ratified, approved and confirmed in every respect. All liens created, extended or renewed by the Original Mortgage are hereby extended, renewed and carried forward by this instrument and incorporated herein. All references to the Original Mortgage in any documents heretofore or hereafter executed shall be deemed to refer to the Original Mortgage as amended by this Amendment.
SECOND AMENDMENT – Page 3
[The rest of this page is intentionally left blank. The signature pages follow.]
SECOND AMENDMENT – Page 4
EXECUTED on the date(s) of the acknowledgment(s) below, to be effective as of the date first set forth above.
| MORTGAGOR: | ||
| PRIMEENERGY RESOURCES CORPORATION, f/k/a PrimeEnergy Corporation | ||
| By: | /s/ Xxxxxxx X. Xxxxxxxx | |
| Xxxxxxx X. Xxxxxxxx | ||
| Executive Vice President, Treasurer & Chief Financial Officer | ||
| STATE OF TEXAS | § | |
| § | ||
| COUNTY OF ____________ | § |
This instrument was acknowledged before me on the ____ day of December, 2021, by Xxxxxxx X. Xxxxxxxx, Executive Vice President, Treasurer & Chief Financial Officer of PrimeEnergy Resources Corporation, a Delaware corporation (f/k/a PrimeEnergy Corporation), on behalf of said corporation.
| Notary Public, State of Texas |
SECOND AMENDMENT – Signature Page
| MORTGAGOR (CONTINUED): | ||
| PRIMEENERGY MANAGEMENT CORPORATION | ||
| By: |
/s/ Xxxxxxx X. Xxxxxxxx | |
| Xxxxxxx X. Xxxxxxxx | ||
| Executive Vice President, Treasurer & Chief Financial Officer | ||
| STATE OF TEXAS | § | |
| § | ||
| COUNTY OF ____________ | § |
This instrument was acknowledged before me on the ____ day of December, 2021, by Xxxxxxx X. Xxxxxxxx, Executive Vice President, Treasurer & Chief Financial Officer of PrimeEnergy Management Corporation, a New York corporation, on behalf of said corporation.
| Notary Public, State of Texas |
SECOND AMENDMENT – Signature Page
| MORTGAGEE: | ||
| CITIBANK, N.A., as Administrative Agent, as Mortgagee | ||
| By: | /s/ Xxxx Xxxxxx | |
| Xxxx Xxxxxx | ||
| Senior Vice President | ||
| STATE OF TEXAS | § | |
| § | ||
| COUNTY OF ____________ | § |
This instrument was acknowledged before me on the ____ day of December, 2021, by Xxxx Xxxxxx, Senior Vice President of Citibank, N.A., a national banking association, on behalf of said banking association.
| Notary Public, State of Texas |
SECOND AMENDMENT – Signature Page
| ORIGINAL MORTGAGEE: | ||
| PNC BANK, successor to BBVA USA, formerly known as Compass Bank, as Original Mortgagee | ||
| By: | /s/ Xxxxx Xxxxxxxx | |
| Xxxxx Xxxxxxxx | ||
| Vice President | ||
| STATE OF TEXAS | § | |
| § | ||
| COUNTY OF ____________ | § |
This instrument was acknowledged before me on the ____ day of December, 2021, by Xxxxx Xxxxxxxx, a Vice President of PNC Bank, successor to BBVA USA, a national banking association, on behalf of said banking association.
| Notary Public, State of Texas |
SECOND AMENDMENT – Signature Page
SCHEDULE I
A. Amended, Restated and Consolidated Mortgage of Oil and Gas Property, Security Agreement, Assignment of Production and Financing Statement by PrimeEnergy Corporation and PrimeEnergy Management Corporation, as Mortgagor to Compass Bank, as Administrative Agent and Mortgagee, for the benefit of the Secured Parties dated as of May 5, 2017, which has been recorded as follows:
| Location |
Recording Information |
Date Recorded | ||
| Canadian County, Oklahoma |
Book RB 4587, Page 25, Document No. 2017 15598 |
06/05/2017 | ||
| Xxxxxx County, Oklahoma |
Book 2179, Page 000, Xxxxxxxx Xx. X-0000-000000 |
06/05/2017 | ||
| Xxxxx County, Oklahoma |
Book 5232, Page 355, Document No. 2017-012760 |
06/05/2017 | ||
B. First Amendment to Amended, Restated and Consolidated Mortgage of Oil and Gas Property, Security Agreement, Assignment of Production and Financing Statement by PrimeEnergy Resources Corporation and PrimeEnergy Management Corporation, as Mortgagor to BBVA USA f/k/a Compass Bank, as Administrative Agent and Mortgagee, for the benefit of the Secured Parties dated as of February 10, 2020, which has been recorded as follows:
| Location |
Recording Information |
Date Recorded | ||
| Canadian County, Oklahoma |
Book RB 5027, Page 861, Document No. R 2020 4672 |
02/20/2020 | ||
| Xxxxxx County, Oklahoma |
Book 2300, Page 000, Xxxxxxxx Xx. X-0000-000000 |
02/21/2020 | ||
| Xxxxx County, Oklahoma |
Book 5705, Page 000, Xxxxxxxx Xx. X-0000-000000 |
02/20/2020 | ||
Schedule I – Page 1
EXHIBIT A
[See attached.]
Exhibit A – Cover Page
