Exhibit 10.2
COMMITMENT INCREASE SUPPLEMENT
     This COMMITMENT INCREASE SUPPLEMENT (the “Commitment Increase Supplement”)
is made as of October 24, 2007 by and among TARGA RESOURCES PARTNERS LP, a
Delaware limited partnership (the “Borrower”), BANK OF AMERICA, N.A., as
administrative agent (in such capacity, the “Administrative Agent”), Collateral
Agent, Swing Line Lender and L/C Issuer and the parties signatory hereto as the
Increasing Lenders (hereinafter defined) and the New Lenders (hereinafter
defined).
RECITALS
     Borrower, Administrative Agent, the Swing Line Lender, the L/C Issuer and
the Lenders named therein are parties to that certain Credit Agreement dated as
of February 14, 2007 (as otherwise amended, supplemented, restated, increased,
extended, or otherwise modified from time to time, the “Credit Agreement”). All
terms used herein and not otherwise defined shall have the same meaning given to
them in the Credit Agreement.
     Pursuant to Section 2.14 of the Credit Agreement, upon notice to the
Administrative Agent, Borrower has the right to cause from time to time an
increase in the Aggregate Commitments by adding to the Credit Agreement, subject
to the approval of the Administrative Agent, the L/C Issuer, and the Swing Line
Lender one or more additional Lenders (referred to in Section 2.14(c) of the
Credit Agreement as “additional Eligible Assignees”) and referred to herein as
the “New Lenders”), or by allowing one or more Lenders to increase their
respective Commitment (such Lenders being referred to herein as the “Increasing
Lenders”), subject to the limitations contained in such Section 2.14.
AGREEMENT
     1. The Borrower and the parties signatory hereto as the Increasing Lenders
and as the New Lenders hereby agree that, from and after the date hereof, the
Increasing Lenders and the New Lenders shall have the respective Commitments as
set forth on the attached Supplement to Schedule 2.01. By its execution and
delivery of this Commitment Increase Supplement, each New Lender hereby assumes
all of the rights and obligations of a Lender under the Credit Agreement. Such
Commitments of the New Lenders and the increase in the Commitments of the
Increasing Lenders shall represent an increase in the Aggregate Commitments
pursuant to Section 2.14 of the Credit Agreement.
     2. Administrative Agent, Swing Line Lender, L/C Issuer, and Borrower hereby
consent to and approve the Commitment of each New Lender and the increase in the
Commitment of each Increasing Lender, and such resulting increase in the
Aggregate Commitments pursuant to Section 2.14 of the Credit Agreement.
     3. Each New Lender and each Increasing Lender hereby represents and
warrants to the Administrative Agent, Swing Line Lender and L/C Issuer as
follows: (a) it has full power and authority, and has taken all action
necessary, to execute and deliver this Commitment Increase Supplement, to
consummate the transactions contemplated hereby and to become or to

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continue to be a Lender under the Credit Agreement, (b) from and after the
Increase Effective Date (hereinafter defined), it shall be bound by the
provisions of the Credit Agreement as a Lender thereunder and, to the extent of
its Commitment, shall have the obligations of a Lender thereunder, and (c) it
has received a copy of the Credit Agreement, together with copies of the most
recent financial statements delivered pursuant to Section 6.01 thereof, as
applicable, and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this
Commitment Increase Supplement on the basis of which it has made such analysis
and decision independently and without reliance on the Administrative Agent,
Swing Line Lender, L/C Issuer, or any other Lender; and agrees that (1) it will,
independently and without reliance on the Administrative Agent, Swing Line
Lender, L/C Issuer or any other Lender, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, and
(2) it will perform in accordance with their terms all of the obligations which
by the terms of the Loan Documents are required to be performed by it as a
Lender.
     4. This Commitment Increase Supplement shall be effective on the date (the
“Increase Effective Date”) that (i) the Borrower and each New Lender and each
Increasing Lender each execute a counterpart hereof and deliver the same to the
Administrative Agent, (ii) the Administrative Agent, Swing Line Lender, and L/C
Issuer execute and deliver a counterpart hereof, (iii) each of the conditions to
the increase in the Aggregate Commitments in Section 2.14 of the Credit
Agreement shall have occurred, and (iv) all additional conditions precedent set
forth on the Conditions Precedent Schedule attached hereto have been satisfied.
From and after the Increase Effective Date, each New Lender shall be a “Lender”
under the Loan Documents.
     5. Upon any increase in the Aggregate Commitments pursuant Section 2.14,
the Lenders have authorized the Administrative Agent and the Borrower to make
non-ratable borrowings and prepayments of the Committed Loans, and if any such
prepayment requires the payment of Eurodollar Rate Loans other than on the last
day of the applicable Interest Period, Borrower shall pay any required amounts
pursuant to Section 3.05, in order to keep the outstanding Committed Loans
ratable with any revised Applicable Percentages arising from any nonratable
increase in the Commitments under this Commitment Increase Supplement. On the
Increase Effective Date, each New Lender and each Increasing Lender shall make a
Committed Loan for the account of the Borrower to implement such provisions of
Section 2.14 of the Credit Agreement.
     6. Borrower (a) represents and warrants that, on and as of the Increase
Effective Date, before and after giving effect to the increase in Aggregate
Commitments resulting hereunder, (i) the representations and warranties
contained in Article V of the Credit Agreement and the other Loan Documents are
true and correct in all material respects, except to the extent that such
representations and warranties specifically refer to an earlier date, in which
case they are true and correct in all material respects as of such earlier date,
and except that for purposes of this Commitment Increase Supplement, the
representations and warranties contained in subsection (a) of Section 5.05 shall
be deemed to refer to the most recent statements furnished pursuant to clauses
(a) and (b) of Section 6.01, and (ii) no Default exists, (b) ratifies and
confirms each of the Loan Documents, (c) agrees that all Loan Documents shall
apply to the Obligations as they are or may be increased by this Commitment
Increase Supplement, (d) agrees that its obligations and covenants under each
Loan Document are otherwise unimpaired

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hereby and shall remain in full force and effect, and (e) covenants, for the
benefit of the Secured Parties, to cause to be issued, not more than 30 days
after the Increase Effective Date (or such longer period as the Administrative
Agent may agree in its discretion), the fully paid title insurance policies
described in clause (e)(ii) of the Conditions Precedent Schedule in respect of
each of the Sterling, Gillis, Acadia and Mertzen plants.
     7. This Commitment Increase Supplement may not be amended, changed, waived
or modified, except by a writing executed by the parties hereto.
     8. This Commitment Increase Supplement embodies the entire agreement among
each New Lender, each Increasing Lender, the Borrower, L/C Issuer, Swing Line
Lender and the Administrative Agent with respect to the subject matter hereof
and supersedes all other prior arrangements and understandings relating to the
subject matter hereof.
     9. This Commitment Increase Supplement may be executed in any number of
counterparts each of which shall be deemed to be an original. Each such
counterpart shall become effective when counterparts have been executed by all
parties hereto. Delivery of an executed counterpart of this Commitment Increase
Supplement by telecopier shall be effective as delivery of a manually executed
counterpart of this Commitment Increase Supplement.
     10. This Commitment Increase Supplement shall be binding upon and inure to
the benefit of each New Lender and each Increasing Lender and the Borrower and
its respective successors and permitted assigns, except that neither party may
assign or transfer any of its rights or obligations hereunder without the prior
written consent of the other party.
     11. This Commitment Increase Supplement is a Loan Document, as defined in
the Loan Agreement, and is subject to the provisions of the Credit Agreement
governing Loan Documents.
     12. This Commitment Increase Supplement shall be governed by, and construed
in accordance with, the laws of the State of New York.
     If requested by any New Lender or any Increasing Lender, the Borrower shall
execute and deliver to such New Lender or such Increasing Lender, as of the
Increase Effective Date, a Note in the form attached to the Credit Agreement to
evidence the Commitment of such New Lender or such Increasing Lender. If any
Increasing Lender which requests a new Note is in possession of an existing Note
in the amount of its Commitment before giving effect to the increase pursuant to
this Commitment Increase Supplement (each an “Existing Note”), such Increasing
Lender shall, promptly after receipt of its new Note, mark such Existing Note
“cancelled” and return such Existing Note to the Borrower.
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     IN WITNESS WHEREOF, the Administrative Agent, Swing Line Lender, L/C
Issuer, Borrower, each New Lender, and each Increasing Lender have executed this
Commitment Increase Supplement as of the date shown above.

            TARGA RESOURCES PARTNERS LP
      By:   Targa Resources GP LLC, its sole general partner                    
 

                  By:   /s/ Howard M. Tate         Howard M. Tate        Vice
President -- Finance and Treasurer     

 

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            BANK OF AMERICA, N.A., as Administrative Agent
      By:   /s/ Christopher Smith         Name:   Christopher Smith       
Title:   Senior Vice President     

 

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            BANK OF AMERICA, N.A., as L/C Issuer and Swing Line Lender
      By:   /s/ Christopher Smith         Name:   Christopher Smith       
Title:   Senior Vice President     

 

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            BANK OF AMERICA, N.A.,
as an Increasing Lender
      By:   /s/ Christopher Smith         Name:   Christopher Smith       
Title:   Senior Vice President     

 

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            WACHOVIA BANK, NATIONAL ASSOCIATION,
as an Increasing Lender
      By:   /s/ Leanne S. Phillips         Name:   Leanne S. Phillips       
Title:   Director     

 

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            MERRILL LYNCH CAPITAL, A DIVISION OF MERRILL LYNCH BUSINESS
FINANCIAL SERVICES INC., as an Increasing Lender
      By:   /s/ Gregory B. Hanson         Name:   Gregory B. Hanson       
Title:   Vice President     

 

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            ROYAL BANK OF CANADA, as an Increasing Lender
      By:   /s/ David A. McCluskey         Name:   David A. McCluskey       
Title:   Authorized Signatory     

 

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            THE ROYAL BANK OF SCOTLAND PLC, as an Increasing Lender
      By:   /s/ Matthew Main         Name:   Matthew Main        Title:  
Managing Director     

 

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            BNP PARIBAS, as an Increasing Lender
      By:   /s/ Richard Hawthorne         Name:   Richard Hawthorne       
Title:   Vice President     

                  By:   /s/ Greg Smothers         Name:   Greg Smothers       
Title:   Vice President   

 

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            ABN AMRO BANK N.V., as an Increasing Lender
      By:   /s/ John D. Reed         Name:   John D. Reed        Title:  
Director     

                  By:   /s/ M. Aamir Khan         Name:   M. Aamir Khan       
Title:   Vice President   

 

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            THE BANK OF NOVA SCOTIA, as an Increasing Lender
      By:   /s/ A. Ostrov         Name:   A. Ostrov        Title:   Director   
 

 

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            CITIBANK, N.A., as an Increasing Lender
      By:   /s/ Ashish Sethi         Name:   Ashish Sethi        Title:  
Attorney-in-Fact     

 

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            AMEGY BANK NATIONAL ASSOCIATION, as an Increasing Lender
      By:   /s/ W. Bryan Chapman         Name:   W. Bryan Chapman       
Title:   Senior Vice President     

 

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            COMPASS BANK, as an Increasing Lender
      By:   /s/ Adrianne D. Griffin         Name:   Adrianne D. Griffin       
Title:   Vice President     

 

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            U.S. BANK NATIONAL ASSOCIATION, as an Increasing Lender
      By:   /s/ Justin N. Alexander         Name:   Justin N. Alexander       
Title:   Vice President     

 

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            FORTIS CAPITAL CORP., as an Increasing Lender
      By:   /s/ Darrell Holley         Name:   Darrell Holley        Title:  
Managing Director     

                  By:   /s/ Casey Lowary         Name:   Casey Lowary       
Title:   Director   

 

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            JPMORGAN CHASE BANK, N.A., as an Increasing Lender
      By:   /s/ Kevin J. Utsey         Name:   Kevin J. Utsey        Title:  
Vice President     

 

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            COMERICA BANK, as an Increasing Lender
      By:   /s/ Josh Strong         Name:   Josh Strong        Title:  
Assistant Vice President     

 

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            GUARANTY BANK, as an Increasing Lender
      By:   /s/ Jim R. Hamilton         Name:   Jim R. Hamilton        Title:  
Senior Vice President     

 

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            NATIXIS, as an Increasing Lender
      By:   /s/ Donovan Broussard         Name:   Donovan Broussard       
Title:   Managing Director     

                  By:   /s/ Louis P. Laville, III         Name:   Louis P.
Laville, III        Title:   Managing Director   

 

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            UBS LOAN FINANCE LLC, as an Increasing Lender
      By:   /s/ David B. Julie         Name:   David B. Julie        Title:  
Associate Director     

                  By:   /s/ Irja R. Otsa         Name:   Irja R. Otsa       
Title:   Associate Director   

 

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            LEHMAN BROTHERS COMMERCIAL BANK, as an Increasing Lender
      By:   /s/ George Janes         Name:   George Janes        Title:   Chief
Credit Officer     

 

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            CREDIT SUISSE, as an Increasing Lender
      By:   /s/ James Moran         Name:   James Moran        Title:   Managing
Director     

                  By:   /s/ Nupur Kumar         Name:   Nupur Kumar       
Title:   Associate   

 

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            GOLDMAN SACHS CREDIT PARTNERS L.P., as an Increasing Lender
      By:   /s/ Mark Walton         Name:   Mark Walton        Title:  
Authorized Signatory     

 

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            RAYMOND JAMES BANK, FSB, as a New Lender
      By:   /s/ Garrett McKinnon         Name:   Garrett McKinnon       
Title:   Vice President     

 

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            DEUTSCHE BANK TRUST COMPANY AMERICAS, as a New Lender
      By:   /s/ Dusan Lazarov         Name:   Dusan Lazarov        Title:   Vice
President     

                  By:   /s/ Erin Morrissey         Name:   Erin Morrissey       
Title:   Vice President     

 

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SUPPLEMENT TO SCHEDULE 2.01
OF THE CREDIT AGREEMENT

                              Existing   New   Amount of     Commitment  
Commitment   Commitment Lender   Amount   Amount   Increase
Bank of America, N.A.
  $ 29,750,000     $ 42,500,000     $ 12,750,000  
Wachovia Bank, National Association
  $ 29,750,000     $ 42,500,000     $ 12,750,000  
Royal Bank of Canada
  $ 29,500,000     $ 42,000,000     $ 12,500,000  
The Royal Bank of Scotland PLC
  $ 29,500,000     $ 42,000,000     $ 12,500,000  
Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services
Inc.
  $ 29,500,000     $ 40,000,000     $ 10,500,000  
The Bank of Nova Scotia
  $ 29,000,000     $ 35,000,000     $ 6,000,000  
ABN AMRO Bank N.V.
  $ 25,000,000     $ 35,000,000     $ 10,000,000  
BNP Paribas
  $ 25,000,000     $ 35,000,000     $ 10,000,000  
Compass Bank
  $ 19,000,000     $ 35,000,000     $ 16,000,000  
Citibank, N.A.
  $ 19,000,000     $ 35,000,000     $ 16,000,000  
JPMorgan Chase Bank, N.A.
  $ 19,000,000     $ 25,000,000     $ 6,000,000  
Amegy Bank National Association
  $ 19,000,000     $ 25,000,000     $ 6,000,000  
Guaranty Bank
  $ 19,000,000     $ 25,000,000     $ 6,000,000  
U.S. Bank National Association
  $ 19,000,000     $ 25,000,000     $ 6,000,000  
Comerica Bank
  $ 19,000,000     $ 25,000,000     $ 6,000,000  
Fortis Capital Corp.
  $ 19,000,000     $ 25,000,000     $ 6,000,000  
Natixis
  $ 15,000,000     $ 22,000,000     $ 7,000,000  
UBS Loan Finance LLC
  $ 14,000,000     $ 25,000,000     $ 11,000,000  
Credit Suisse
  $ 14,000,000     $ 25,000,000     $ 11,000,000  
Goldman Sachs Credit Partners L.P.
  $ 14,000,000     $ 25,000,000     $ 11,000,000  
Lehman Brothers Commercial Bank
  $ 14,000,000     $ 19,000,000     $ 5,000,000  
Deutsche Bank Trust Company Americas
    —     $ 25,000,000     $ 25,000,000  
Raymond James Bank, FSB
    —     $ 25,000,000     $ 25,000,000  
TOTAL
                  $ 250,000,000  

 

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CONSENT AND AGREEMENT
October __, 2007
     The undersigned Guarantors each hereby consents to the provisions of this
Commitment Increase Supplement and the transactions contemplated herein and
hereby ratifies and confirms each of the Loan Documents to which it is a party,
and, without limiting the foregoing, agree that such Loan Documents shall apply
to the Obligations as they are or may be increased by this Commitment Increase
Supplement and that its obligations and covenants under such Loan Documents are
otherwise unimpaired hereby and shall remain in full force and effect.

            TARGA RESOURCES OPERATING LP
      By:   Targa Resources Operating GP LLC,
its sole general partner                      

                  By:   /s/ Howard M. Tate         Howard M. Tate        Vice
President — Finance and Treasurer     

            TARGA RESOURCES OPERATING GP LLC
      By:   /s/ Howard M. Tate         Howard M. Tate        Vice President —
Finance and Treasurer     

            TARGA NORTH TEXAS LP
      By:   Targa North Texas GP LLC,
its sole general partner                      

                  By:   /s/ Howard M. Tate         Howard M. Tate        Vice
President — Finance and Treasurer   

 

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            TARGA NORTH TEXAS GP LLC
      By:   /s/ Howard M. Tate         Howard M. Tate        Vice President —
Finance and Treasurer     

            TARGA INTRASTATE PIPELINE LLC
      By:   /s/ Howard M. Tate         Howard M. Tate        Vice President —
Finance and Treasurer     

Address of each Guarantor:
1000 Louisiana, Suite 4300
Houston, Texas 77002
Attention: Vice President — Finance
Telephone: 713.584.1024
Telecopier: 713.584.1523

 

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Conditions Precedent Schedule
1. The Borrower shall have delivered to the Administrative Agent, in form
reasonably satisfactory to the Administrative Agent:

    (a)   a certificate of the Borrower that (i) all conditions precedent to the
acquisition by the Borrower of Targa Resources Texas GP LLC, Targa Texas Field
Services LP and Targa Louisiana Field Services LLC (the “Acquired Companies”)
pursuant to the Purchase and Sale Agreement dated September 18, 2007 with Targa
Resources, Inc. (the “Purchase and Sale Agreement”) shall have been satisfied or
waived (in compliance with (iii) below), (ii) that closing and funding of such
acquisition by the Borrower of the Acquired Companies shall be consummated on a
substantially contemporaneous basis with the delivery of such certificate and
(iii) there have been no material alterations, amendments or changes in the
Purchase and Sale Agreement or other agreements, instruments and documents
relating to the acquisition of the Acquired Companies, and no material condition
contained in the Purchase and Sale Agreement or such other agreements,
instruments and documents shall have been waived without the prior written
consent of the Administrative Agent (which consent shall not be unreasonably
withheld).       (b)   releases in respect of all existing Liens on the Equity
Interests and the assets of the Acquired Companies other than Liens permitted
under Section 7.01 of the Credit Agreement;       (c)   Guaranty Supplement
executed by each of Targa Resources Texas GP LLC, Targa Texas Field Services LP,
Targa Louisiana Field Services LLC and Targa Louisiana Intrastate LLC;      
(d)   Security Documents satisfactory for the creation and perfection of valid
first priority Liens (subject to Liens permitted by Section 7.01 of the Credit
Agreement) on and security interests in the Equity Interests and the assets of
the Acquired Companies to secure the Obligations under the Credit Agreement;    
  (e)   in respect of each of the Sterling, Gillis, Acadia and Mertzen plants
(i) title commitments or other evidence satisfactory to the Administrative Agent
of satisfactory title thereto, and (ii) no more than 30 days after the Increase
Effective Date (or such longer period as the Administrative Agent may agree in
its discretion), a fully paid title insurance policy in form and substance, with
endorsements and in amounts reasonably acceptable to the Administrative Agent
and Collateral Agent, issued, coinsured and reinsured by title insurers
reasonably acceptable to the Administrative Agent and Collateral Agent, insuring
the Mortgage in respect of such property to be valid first and subsisting Liens
on the property described therein, free and clear of all defects (including, but
not limited to, mechanics’ and materialmen’s Liens) and encumbrances, excepting
only Liens permitted under the Loan Documents, and providing for such other
affirmative insurance (including endorsements for future advances under the Loan
Documents and for mechanics’ and materialmen’s Liens) and such coinsurance and
direct access reinsurance as the Administrative Agent may deem necessary or
desirable;

 

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    (f)   a favorable opinion of (i) Bracewell & Giuliani LLP., New York and
Texas counsel to the Loan Parties, and (ii) Schully Roberts Slattery & Marino,
Louisiana counsel to the Loan Parties, addressed to the Administrative Agent and
each Lender, as to such matters as the Administrative Agent may reasonably
request;       (g)   a certificate of the Secretary of each Loan Party
certifying (i) true and correct copies of the resolutions adopted by each Loan
Party approving or consenting to such increase, and such resolutions have not
been amended, altered or repealed and are in effect on the date hereof;
(ii) that none of the incumbency certificates and/or other certificates of
Responsible Officers of each Loan Party as the Administrative Agent has
previously required evidencing the identity, authority and capacity of each
Responsible Officer thereof authorized to act as a Responsible Officer in
connection with the Security Documents to which such Loan Party is a party have
been amended since they were delivered, and (iii) that the execution and
delivery of the Security Documents has been duly authorized; and      
(h)   such other documents and certifications as the Administrative Agent may
reasonably require to evidence that each Loan Party is duly organized or formed,
and that each Loan Party is validly existing, in good standing and qualified to
engage in business in each jurisdiction where its ownership, lease or operation
of properties or the conduct of its business requires such qualification.

2. The receipt by the Borrower of additional equity investments to fund the
purchase of the Acquired Companies of at least $345,000,000 (prior to deduction
of customary issuance costs and expenses);
3. The purchase price for the Acquired Companies, as adjusted pursuant to the
Purchase and Sale Agreement, shall not exceed $735,000,000; and
4. The Borrower shall have paid all fees required to be paid to Administrative
Agent in connection with the Commitment Increase Supplement and all other fees
and reimbursements to be paid pursuant to any Loan Documents, including fees and
disbursements of Administrative Agent’s attorneys to the extent invoiced prior
to the Increase Effective Date.