EXHIBIT 10.2
EXECUTION COPY
SECOND AMENDMENT
This SECOND AMENDMENT (this "Amendment") is entered into
effective as of February 7, 2003, in respect of the Uncommitted Amended and
Restated Credit Agreement, dated as of July 1, 2002 (as amended, supplemented or
otherwise modified prior to the date hereof, the "Credit Agreement") among
XXXXXXXX MARKETING, L.L.C., a Delaware limited liability company (the
"Borrower"), the financial institutions parties thereto (the "Banks"), FORTIS
CAPITAL CORP., a Connecticut corporation ("Fortis"), as a Bank, as an Issuing
Bank, as Collateral Agent and as Administrative Agent for the Banks, and BNP
PARIBAS, a bank organized under the laws of France ("BNP Paribas"), as a Bank,
as an Issuing Bank, and as Documentation Agent.
WHEREAS, the parties hereto desire to amend the Credit
Agreement as set forth herein.
NOW, THEREFORE, in consideration of premises and for other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Borrower, Fortis, BNP Paribas and the other Banks agree as
follows:
1. Defined Terms. Unless otherwise defined herein, terms
defined in the Credit Agreement are used herein as therein defined.
2. Amendments. The Credit Agreement is hereby amended as
follows:
(a) The definition of "Borrowing Base Sub-Cap" in
Section 1.01, Certain Defined Terms, is hereby amended by deleting the phrase
"cumulative loss" where it occurs therein and substituting in lieu thereof the
phrase "Cumulative Loss".
(b) A new definition of "Cumulative Loss" is hereby
added to Section 1.01, Certain Defined Terms, immediately after the definition
of "Credit Extension", such new definition to read in its entirety as follows:
"Cumulative Loss" means, as of the date of any
election of a Borrowing Base Sub-Cap, the consolidated net
loss of the Borrower and its Subsidiaries for the period
commencing on the Closing Date and ending on the date of such
election (determined as a single accounting period) as defined
according to GAAP, but excluding from net income any gains or
losses attributable solely to accounting changes adopted by
Borrower to achieve consistency with the consensus reached on
Issue 02-3 (Issues Involved in Accounting for Derivative
Contracts Held for Trading Purposes and Contracts Involved in
Energy Trading and Risk Management Activities) by the Emerging
Issues Task Force (EITF) of the Financial Accounting Standards
Board reflected in the minutes of the October 25, 2002 meeting
of the EITF."
3. Representations. To induce the Administrative Agent and the
Banks to enter into this Amendment, Borrower ratifies and confirms each
representation and warranty set forth in the Credit Agreement as if such
representations and warranties were made on even date herewith, and further
represents and warrants (a) that no material adverse change has occurred in the
financial condition or business prospects of Borrower since the date of the last
financial statements delivered to the Administrative Agent and the Banks, (b)
that no Event of Default exists and no event or condition exists or has occurred
which with passage of time, or notice, or both, would become an Event of Default
(a "Default"), and (c) that Borrower is fully authorized to enter into this
Amendment. BORROWER ACKNOWLEDGES THAT THE CREDIT AGREEMENT PROVIDES FOR A CREDIT
FACILITY THAT IS COMPLETELY OPTIONAL ON THE PART OF THE BANKS AND THAT THE BANKS
HAVE ABSOLUTELY NO DUTY OR OBLIGATION TO ADVANCE ANY REVOLVING LOAN OR TO ISSUE
ANY LETTER OF CREDIT. BORROWER REPRESENTS AND WARRANTS TO THE BANKS THAT
BORROWER IS AWARE OF THE RISKS ASSOCIATED WITH CONDUCTING BUSINESS UTILIZING AN
UNCOMMITTED FACILITY.
4. Conditions Precedent. As a condition to Administrative
Agent and the Banks entering into this Amendment, the Administrative Agent and
the Banks must have received executed originals of each of the following
documents and instruments, in form and substance satisfactory to the
Administrative Agent and the Banks:
(a) this Amendment, duly executed by Borrower and the
Banks; and
(b) such other documents or certificates as the
Administrative Agent may reasonably request.
5. Miscellaneous.
(a) No Other Amendments or Waivers. Except as
expressly consented to hereby, the Credit Agreement and the other Loan Documents
shall remain in full force and effect in accordance with their respective terms,
without any consent, amendment, waiver or modification of any provision thereof.
(b) Severability. In case any of the provisions of
this Amendment shall for any reason be held to be invalid, illegal, or
unenforceable, such invalidity, illegality, or unenforceability shall not affect
any other provision hereof, and this Amendment shall be construed as if such
invalid, illegal, or unenforceable provision had never been contained herein.
(c) Execution in Counterparts. This Amendment may be
executed in any number of counterparts, all of which taken together shall
constitute one and the same instrument, and any party hereto may execute this
Amendment by signing one or more counterparts. Delivery of an executed
counterpart of a signature page to this Amendment by telecopier shall be
effective as delivery of an originally executed counterpart of this Amendment.
(d) Governing Law. This Amendment shall be construed
in accordance with and governed by the laws of the State of New York (without
reference to
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principles of conflicts of laws); provided, however, that the Administrative
Agent, the Banks and all Agent-Related Persons shall retain all rights under
federal law.
(e) Rights of Third Parties. All provisions herein
are imposed solely and exclusively for the benefit of Borrower, Administrative
Agent, the Banks, Agent-Related Persons, and their permitted successors and
assigns, and no other Person shall be a direct or indirect legal beneficiary of,
or have any direct or indirect cause of action or claim in connection with this
Amendment or any of the other Loan Documents.
(F) COMPLETE AGREEMENT. THIS WRITTEN AMENDMENT AND
THE OTHER WRITTEN AGREEMENTS ENTERED INTO AMONG THE PARTIES REPRESENT THE FINAL
AGREEMENT AMONG 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 AMONG THE PARTIES.
[SIGNATURE PAGES FOLLOW]
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IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed and delivered by their proper and duly authorized
officers as of the day and year first above written.
XXXXXXXX MARKETING, L.L.C., a Delaware
limited liability company
By: /s/ XXXXXX X. XXXX
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Name: Xx. Xxxxxx X. Xxxx
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Title: Senior Vice President
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Borrower's Address:
00000 Xxxxxxxxx Xxxxxxx, Xxxxx 000
Xxxxxxx, Xxxxx 00000
Attention: Xxxxxx X. Xxxx
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
FORTIS CAPITAL CORP.,
a Connecticut corporation
as Administrative Agent, Collateral Agent
and a Bank
By: /s/ XXXXX X. XXXXXX
-------------------------------------
Name: Xxxxx X. Xxxxxx
Title: Senior Vice President
By: /s/ XXXX XXXXX
-------------------------------------
Name: Xxxx Xxxxx
Title: Vice President
000 Xxxxxxxx Xxxxx
Xxxxx 0000
Xxxxxx, XX 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
[Signatures continue on following page.]
[Amendment to Credit Agreement]
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BNP PARIBAS,
a bank organized under the laws of France
as a Bank, Issuing Bank, and
Documentation Agent
By: /s/ XXXXXX X. XXXX
----------------------------------
Name: Xxxxxx X. Xxxx
----------------------------------
Title: Director
----------------------------------
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xx Xxxx
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
BNP PARIBAS,
a bank organized under the laws of France
as a Bank, Issuing Bank, and
Documentation Agent
By: /s/ XXXXX XXX
----------------------------------
Name: Xxxxx Xxx
----------------------------------
Title: Director
----------------------------------
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxx Xxx
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
[Signatures continue on following page.]
[Amendment to Credit Agreement]
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NATEXIS BANQUES POPULAIRES, NEW YORK
BRANCH, as a Bank
By: /s/ XXXXX XXXXXXX
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Name: Xxxxx Xxxxxxx
----------------------------------
Title: Vice President
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1251 Avenue of the Xxxxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxx Xxxxxxx
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
NATEXIS BANQUES POPULAIRES, NEW YORK
BRANCH, as a Bank
By: /s/ GUILLAUME DE PARSCAU
----------------------------------
Name: Guillaume de Parscau
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Title: First Vice President & Manager
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Commodities Finance Group
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1251 Avenue of the Xxxxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Guillaume de Parscau
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
[Signatures continue on following page.]
[Amendment to Credit Agreement]
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RZB FINANCE LLC, as a Bank
By: /s/ XXXXXXX XXXXXXX
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Name: Xxxxxxx Xxxxxxx
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Title: Group Vice President
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0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxxx Xxxxxxx
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
RZB FINANCE LLC, as a Bank
By: /s/ XXXXX X. XXXXX
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Name: Xxxxx X. Xxxxx
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Title: First Vice President
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0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxx X. Xxxxx
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
[Signatures continue on following page.]
[Amendment to Credit Agreement]
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GUARANTORS:
ATMOS ENERGY MARKETING, LLC
By: /s/ XXXXXX X. XXXXXXXX
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Name: Xxxxxx X. Xxxxxxxx
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Title: Vice President & Treasurer
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1800 Three Lincoln Centre
0000 XXX Xxxxxxx
Xxxxxx, XX 00000
ATMOS ENERGY HOLDINGS, INC.
By: /s/ XXXXXX X. XXXXXXXX
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Name: Xxxxxx X. Xxxxxxxx
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Title: Vice President & Treasurer
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1800 Three Lincoln Centre
0000 XXX Xxxxxxx
Xxxxxx, XX 00000
[Amendment to Credit Agreement]
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