Amegy Bank, N.A. Letterhead]Fifth Forbearance Agreement • May 13th, 2011 • Infinity Energy Resources, Inc • Drilling oil & gas wells • Texas
This letter (this “Agreement”) sets forth (i) the fifth forbearance agreement among Infinity Energy Resources, Inc., a Delaware corporation (“Borrower”), Infinity Oil and Gas of Texas, Inc., a Delaware corporation (“Infinity Texas”), Infinity Oil & Gas of Wyoming, Inc., a Wyoming corporation (“Infinity Wyoming” and, together with Infinity Texas, “Guarantors”; Guarantors and Borrower are referred to herein collectively as the “Credit Parties”), and Amegy Bank, N.A. (“Lender”) and (ii) the terms and conditions of certain forbearance period advances to be made under the Loan Agreement (as hereinafter defined). The Credit Parties and Lender previously entered into a Forbearance Agreement dated August 31, 2007 (the “First Forbearance Agreement”), a Second Forbearance Agreement dated March 26, 2008 (the “Second Forbearance Agreement”), a Third Forbearance Agreement dated October 16, 2008 (the “Third Forbearance Agreement”) and a Fourth Forbearance Agreement dated December 4, 2009 (the “Fourt
