Credit AgreementCredit Agreement • January 18th, 2012 • Platinum Energy Solutions, Inc. • Oil & gas field services, nec • New York
For calculation purposes, the Bank will round to the nearest 100th. Until December 31, 2011, Level II shall be applicable to all Advances. At any time that an Event of Default has occurred and is continuing, or at the option of Bank, if Borrower does not deliver the annual or monthly financial statements required by Section 4.5, Level I shall apply, including for purposes of calculating the applicable default interest rate.
SECURITY AGREEMENTSecurity Agreement • January 18th, 2012 • Platinum Energy Solutions, Inc. • Oil & gas field services, nec • New York
This SECURITY AGREEMENT (this “Agreement”), dated as of December 28, 2011, among PLATINUM ENERGY SOLUTIONS, INC., a Nevada corporation (the “Borrower”), the other Persons listed on the signature pages hereof as “Grantors” and those additional entities that hereafter become parties hereto by executing the form of Joinder attached hereto as Annex 1 (including the Borrower, each a “Grantor” and collectively, the “Grantors”), and JPMorgan Chase Bank, N.A., a national banking association (together with its successors and assigns, the “Lender”).
JOINDER NO. 1 TO SECURITY AGREEMENTSecurity Agreement • January 18th, 2012 • Platinum Energy Solutions, Inc. • Oil & gas field services, nec
Joinder No. 1 (this “Joinder”), dated as of December 28, 2011 to the Security Agreement, dated as of December 28, 2011 (as amended, restated, supplemented, or otherwise modified from time to time, the “Security Agreement”), by and among each of the parties listed on the signature pages thereto and those additional entities that thereafter become parties thereto (collectively, jointly and severally and solidarily, “Grantors” and each, individually, a “Grantor”) and JPMorgan Chase Bank, N.A. (together with its successors and assigns, the “Lender”).
INTERCREDITOR AGREEMENTIntercreditor Agreement • January 18th, 2012 • Platinum Energy Solutions, Inc. • Oil & gas field services, nec • New York
This INTERCREDITOR AGREEMENT (this “Agreement”) is dated as of December 28, 2011, and entered into by and between JPMorgan Chase Bank, N.A., a national banking association, and its successors and assigns (“First Lien Lender”), and The Bank of New York Mellon Trust Company, N.A., not in its individual capacity, but solely in its capacity as trustee and collateral agent under the Second Lien Documents (as defined below), including its successors and assigns in such capacity from time to time (“Second Lien Trustee”).
