Exhibit 10.4

 

CONFORMED COPY

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

This First Amendment to Credit Agreement (this “Amendment”) is dated as of
June 16, 2004 (the “Effective Date”) among Equitable Resources, Inc., a Delaware
corporation, as borrower (the “Borrower”), the Required Lenders (as defined in
the Credit Agreement referenced below), and Bank of America, N.A., as
administrative agent (the “Administrative Agent”) and letter of credit issuer
(in such capacity, the “L/C Issuer”).

 

INTRODUCTION

 

A.                                   The Borrower, the Administrative Agent, and
the lenders party thereto (collectively, the “Lenders”) are parties to the
Credit Agreement dated as of October 30, 2003 (as the same may be renewed,
extended, amended or restated from time to time, the “Credit Agreement”).

 

B.                                     The Borrower has requested that the
Lenders agree to amend the Credit Agreement as herein provided, and the Required
Lenders have agreed to such amendment, subject to the terms and conditions set
forth herein. 

 

NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the Borrower, the Administrative Agent and the
Required Lenders hereby agree as follows:

 

Section 1.                                            Definitions.  Unless
otherwise defined in this Amendment, terms used in this Amendment which are
defined in the Credit Agreement shall have the meanings assigned to such terms
in the Credit Agreement.  The rules of construction set forth in Section 1.02 of
the Credit Agreement shall apply to this Amendment.

 

Section 2.                                            Amendment.  Section 7.01
of the Credit Agreement is hereby amended by adding the following new clause (l)
and renumbering the existing clause (l) as clause (m):

 

(l)                                     Liens on shares of Westport Resources
Corporation (and any successor thereof) common stock to secure obligations under
or in connection with any swap, option, collar, forward or other hedging
transactions, including any Swap Contract, with respect to such shares or with
any other transactions entered into for the purpose of selling, assigning,
otherwise disposing of, or managing risk with respect to, such shares; and

 

Section 3.                                            Borrower’s Representations
and Warranties.  The Borrower represents and warrants to the Lenders that as of
the date of execution of this Amendment and as of the Effective Date, (a) all
representations and warranties in the Credit Agreement and other Loan Documents
are true and correct in all material respects as though made on such date,
except to the extent that any of them speak to a different specific date, and
(b) no Default or Event of Default exists.

 

Section 4.                                            Effectiveness.  This
Amendment shall become effective and the Credit Agreement shall be amended as
provided in this Amendment as of the Effective Date, provided that the
Administrative Agent shall have received a counterpart of this Amendment
executed by the Borrower and the Required Lenders.

 

Section 5.                                            Effect on Loan Documents.

 

(a)                                  The Credit Agreement and this Amendment
shall be construed as one and the same instrument. Except as amended herein, the
Credit Agreement and the Loan Documents remain in full

 

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force and effect as originally executed.  Nothing herein shall act as a waiver
of any of the Administrative Agent’s or Required Lenders’ rights under the Loan
Document, as amended hereby.  The Borrower agrees and acknowledges that the
execution, delivery, and performance of this Amendment shall in no way release,
diminish, impair, reduce, or otherwise affect the obligations of the Borrower
under the Loan Documents, as amended hereby, which Loan Documents shall remain
in full force and effect. 

 

(b)                                 Upon the effectiveness of this Amendment, on
and after the Effective Date, each reference in the Credit Agreement and the
other documents delivered in connection therewith to “this Agreement,”
“hereunder,” “hereof,” “herein” or words of like import, and each reference to
the Credit Agreement in any such document or in any other document delivered in
connection therewith, shall mean and be a reference to such agreement, as
amended hereby.

 

(c)                                  This Amendment is a Loan Document for the
purposes of the provisions of the other Loan Documents.

 

Section 6.                                            Miscellaneous

 

(a)                                  This Amendment shall be governed by and
construed and enforced in accordance with the laws of the State of New York.

 

(b)                                 This Amendment may be signed in any number
of counterparts, each of which shall be an original, but all counterparts shall
together constitute one and the same instrument.

 

(c)                                  The Borrower shall pay the expenses paid or
incurred by the Administrative Agent incident to this Amendment, including the
reasonable fees and expenses of Administrative Agent’s counsel in connection
with the preparation and execution of this Amendment.

 

(d)                                 Entire Agreement. THIS AMENDMENT REPRESENTS
THE FINAL AGREEMENT BETWEEN THE PARTIES ABOUT THE SUBJECT MATTER OF THIS
AMENDMENT AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES.

 

Remainder of Page Intentionally Blank

Signature Pages to Follow

 

2

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written.

 

 

BORROWER:

 

 

 

 

 

EQUITABLE RESOURCES, INC., as Borrower

 

 

 

 

 

By:

 

/s/ Philip P. Conti

 

 

Name:

  Philip P. Conti

 

 

Title:

  Vice President, Finance & Treasurer

 

EQUITABLE RESOURCES, INC.

FIRST AMENDMENT TO CREDIT AGREEMENT

 

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BANK OF AMERICA, N.A., as Administrative Agent, a
Lender and L/C Issuer

 

 

 

 

 

By:

 

/s/ Ronald E. McKaig

 

 

Ronald E. McKaig

 

 

 

Managing Director

 

 

 

 

 

 

BANK OF AMERICA, N.A., as a Lender L/C Issuer

 

 

 

 

 

By:

 

/s/ Ronald E. McKaig

 

 

Ronald E. McKaig

 

 

 

Managing Director

 

 

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JPMORGAN CHASE BANK

 

 

 

 

 

By:

 

/s/ Robert C. Mertensotto

 

 

Name:

Robert C. Mertensotto

 

 

Title:

Managing Director

 

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BANK ONE, NA

 

 

 

 

 

By:

 

/s/ Jane Bek Keil

 

 

Name:

Jane Bek Keil

 

 

Title:

Director

 

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CITIBANK, N.A.

 

 

 

 

 

By:

 

/s/ Robert J. Harrity, Jr.

 

 

Name:

Robert J. Harrity, Jr.

 

 

Title:

Managing Director

 

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PNC BANK, NATIONAL ASSOCIATION

 

 

 

 

 

By:

 

/s/ Thomas A. Majeski

 

 

Name:

Thomas A. Majeski

 

 

Title:

Vice President

 

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BARCLAYS BANK PLC

 

 

 

 

 

By:

 

/s/ Nicholas A. Bell

 

 

Name:

Nicholas A. Bell

 

 

Title:

Director

 

 

 

Loan Transaction Management

 

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HARRIS NESBITT FINANCING, INC.

 

 

 

 

 

By:

 

/s/ Cahal B. Carmody

 

 

Name:

Cahal B. Carmody

 

 

Title:

Vice President

 

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MELLON BANK, N.A.

 

 

 

 

 

By:

 

/s/  Mark W. Rogers

 

 

Name:

Mark W. Rogers

 

 

Title:

Vice President

 

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SUNTRUST BANK

 

 

 

 

 

By:

 

/s/

Linda L. Stanley

 

 

Name:

Linda L. Stanley

 

 

Title:

Director

 

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THE BANK OF TOKYO-MITSUBISHI, LTD.

 

 

 

 

 

By:

 

/s/

Donald W. Herrick, Jr.

 

 

Name:

Donald W. Herrick, Jr.

 

 

Title:

Vice President

 

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FIFTH THIRD BANK

 

 

 

 

 

By:

 

/s/

Jim Janovsky

 

 

Name:

Jim Janovsky

 

 

Title:

Vice President

 

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THE BANK OF NEW YORK

 

 

 

 

 

By:

 

/s/ Nathan S. Howard

 

 

Name:

Nathan S. Howard

 

 

Title:

Vice President

 

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