FORBEARANCE AGREEMENTTekoil Forbearance Agreement • July 2nd, 2008 • Tekoil & Gas Corp • Oil & gas field services, nec • New York
This Forbearance Agreement (this “Agreement”) dated as of June 26, 2008, is by and among Tekoil and Gas Gulf Coast, LLC, a Delaware limited liability company (the “Company”), Tekoil & Gas Corporation, a Delaware corporation, as guarantor (the “Parent”), the lenders party to the Credit Agreement described below (“Lenders”), J. Aron & Company, as Lead Arranger and as Syndication Agent (in such capacities, “Syndication Agent”), and J. Aron & Company, as Administrative Agent for such Lenders (in such capacity, the “Administrative Agent”) and as counterparty to the Company under the ISDA Master Agreement referred to below (in such capacity, “Lender Counterparty”).
