CREDIT AGREEMENT Dated effective as of July 3, 2008 among TEXAS CAPITAL BANK, N.A., as Administrative Agent, L/C Issuer and a Bank; and OTHER FINANCIAL INSTITUTIONS AND BANKS, as Banks; and ENERJEX RESOURCES, INC., ENERJEX KANSAS, INC. (f/k/a MIDWEST...Credit Agreement • July 10th, 2008 • EnerJex Resources, Inc. • Crude petroleum & natural gas • Texas
SECURITY AGREEMENT (All Personal Property)Security Agreement • July 10th, 2008 • EnerJex Resources, Inc. • Crude petroleum & natural gas • Texas
THIS SECURITY AGREEMENT is made and entered into as of July 3, 2008 (this “Agreement”) among ENERJEX RESOURCES, INC., a Nevada corporation, ENERJEX KANSAS, INC. (f/k/a Midwest Energy, Inc.), a Nevada corporation and DD ENERGY, INC., a Nevada corporation (collectively, “Debtors”) in favor of TEXAS CAPITAL BANK, N.A, a national banking association, as Administrative Agent for the Banks (“Secured Party”).
July 3, 2008EnerJex Resources, Inc. • July 10th, 2008 • Crude petroleum & natural gas • New York
NOTENote • July 10th, 2008 • EnerJex Resources, Inc. • Crude petroleum & natural gas
FOR VALUE RECEIVED, ENERJEX RESOURCES, INC., ENERJEX KANSAS, INC. and DD ENERGY, INC. (collectively, “Borrowers”), jointly and severally, hereby promise to pay to the order of TEXAS CAPITAL BANK, N.A., or its registered assigns (“Bank”), in accordance with the provisions of the Agreement (as hereinafter defined) the principal amount of FIFTY MILLION AND NO/100 DOLLARS ($50,000,000) or so much thereof as may be outstanding from time to time, pursuant to the terms and conditions of that certain Credit Agreement, dated as of even date herewith (as the same may be amended, restated, extended, or supplemented from time to time, the “Agreement”), among Borrowers, Texas Capital Bank, N.A., as Administrative Agent and the Banks party thereto from time to time. Capitalized terms used but not defined in this Note have the meanings given them in the Agreement.
AMENDED AND RESTATED MORTGAGE, SECURITY AGREEMENT, FINANCING STATEMENT AND ASSIGNMENT OF PRODUCTION AND REVENUES FROM ENERJEX KANSAS, INC. AND DD ENERGY, INC. (individually and collectively, Mortgagor and Debtor) TO TEXAS CAPITAL BANK, N.A. (Mortgagee...Mortgage, Security Agreement • July 10th, 2008 • EnerJex Resources, Inc. • Crude petroleum & natural gas • Texas
THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS, AND COVERS FUTURE ADVANCES AND PROCEEDS. INTERESTS IN OIL, GAS, MINERALS AND OTHER AS-EXTRACTED COLLATERAL OR IN ACCOUNTS RESULTING FROM THE SALE THEREOF, WHICH ARE INCLUDED IN THE MORTGAGED PROPERTY, WILL BE FINANCED AT WELLHEADS LOCATED ON THE LANDS OR LANDS ASSOCIATED WITH PIPELINE DESCRIBED IN EXHIBIT A-1 AND EXHIBIT A-2 HERETO.
