Exhibit 10.03

Execution Version
    

SECOND AMENDMENT
TO
5-YEAR REVOLVING CREDIT AGREEMENT
dated as of
November 30, 2012
among

NUSTAR LOGISTICS, L.P.,
NUSTAR ENERGY L.P.,
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent,
and
The Lenders Party Hereto

    

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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SECOND Amendment to 5-YEAR REVOLVING Credit Agreement

THIS SECOND Amendment to 5-YEAR REVOLVING Credit Agreement (this “Second
Amendment”) dated as of November 30, 2012, is among NUSTAR LOGISTICS, L.P., a
Delaware limited partnership (the “Borrower”); NUSTAR ENERGY L.P., a Delaware
limited partnership (the “MLP”); NUSTAR PIPELINE OPERATING PARTNERSHIP L.P., a
Delaware limited partnership (the “Subsidiary Guarantor” and, together with the
Borrower and the MLP, the “Obligors”); JPMORGAN CHASE BANK, N.A., as
administrative agent (in such capacity, together with its successors in such
capacity, the “Administrative Agent”) for the lenders party to the Credit
Agreement referred to below (collectively, the “Lenders”); and the undersigned
Lenders.
R E C I T A L S
A.    The Borrower, the MLP, the Administrative Agent and the Lenders are
parties to that certain 5-Year Revolving Credit Agreement dated as of May 2,
2012 (as amended by that certain First Amendment to 5-Year Revolving Credit
Agreement dated as of June 29, 2012, the “Credit Agreement”), pursuant to which
the Lenders have made certain extensions of credit available to the Borrower.
B.    The Subsidiary Guarantor is a party to that certain Subsidiary Guaranty
Agreement dated as of May 2, 2012 made by each of the Guarantors (as defined
therein) in favor of the Administrative Agent (the “Subsidiary Guaranty”).
C.    The Borrower has requested and the Lenders have agreed to amend certain
provisions of the Credit Agreement.
D.    NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
Section 1.Defined Terms. Each capitalized term used herein but not otherwise
defined herein has the meaning given such term in the Credit Agreement. Unless
otherwise indicated, all references to Sections and Articles in this Second
Amendment refer to Sections and Articles of the Credit Agreement.

Section 2.Amendments to Credit Agreement.

2.1 Amendment to Section 1.01. The definition of "Investment" contained in
Section 1.01 is hereby amended by deleting the second sentence of such
definition and replacing such sentence with the following:

In addition, a Letter of Credit issued hereunder on behalf or for the benefit of
any Joint Venture Interest or any Unrestricted Subsidiary shall constitute an
“Investment” in such Joint Venture Interest or such Unrestricted Subsidiary for
the purposes hereof.

2.2 Amendment to Section 5.08. Section 5.08 is hereby amended by deleting the
second sentence of such Section 5.08 and replacing such sentence with the
following:

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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The Letters of Credit shall be used for general business purposes of the
Borrower, its Restricted Subsidiaries and (subject to Section 6.04(g)) Joint
Venture Interests and its Unrestricted Subsidiaries or for such other purposes
as may be approved by the Administrative Agent.
Section 3.Conditions Precedent. This Second Amendment shall not become effective
until the date on which each of the following conditions is satisfied (or waived
in accordance with Section 10.02 of the Credit Agreement) (the “Second Amendment
Effective Date”):

3.1 The Administrative Agent shall have received from the Required Lenders, the
Borrower, the MLP and the Subsidiary Guarantor, counterparts (in such number as
may be requested by the Administrative Agent) of this Second Amendment signed on
behalf of such Persons.

3.2 The Administrative Agent shall have received such other documents as the
Administrative Agent or special counsel to the Administrative Agent may
reasonably request.

3.3 No Default shall have occurred and be continuing as of the Second Amendment
Effective Date.

Section 4.Miscellaneous.

4.1 Confirmation. The provisions of the Credit Agreement, as amended by this
Second Amendment, shall remain in full force and effect following the Second
Amendment Effective Date.

4.2 Ratification and Affirmation; Representations and Warranties. Each Obligor
hereby: (a) acknowledges the terms of this Second Amendment; (b) ratifies and
affirms its obligations under, and acknowledges, renews and extends its
continued liability under, each Loan Document to which it is a party and agrees
that each Loan Document to which it is a party remains in full force and effect,
except as expressly amended hereby, after giving effect to the amendments
contained herein; (c) agrees that from and after the Second Amendment Effective
Date each reference to the Credit Agreement in the Subsidiary Guaranty and the
other Loan Documents shall be deemed to be a reference to the Credit Agreement,
as amended by this Second Amendment; and (d) represents and warrants to the
Lenders that as of the date hereof: (i) all of the representations and
warranties contained in each Loan Document to which it is a party are true and
correct, unless such representations and warranties are stated to relate to a
specific earlier date, in which case, such representations and warranties shall
continue to be true and correct as of such earlier date and (ii) no Default has
occurred and is continuing.

4.3 Loan Document. This Second Amendment is a “Loan Document” as defined and
described in the Credit Agreement and all of the terms and provisions of the
Credit Agreement relating to Loan Documents shall apply hereto.

4.4 Counterparts. This Second Amendment may be executed by one or more of the
parties hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and the same
instrument. Delivery of this Second Amendment by facsimile transmission shall be
effective as delivery of a manually executed counterpart hereof.

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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4.5 NO ORAL AGREEMENT. THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER
LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO ORAL
AGREEMENTS BETWEEN THE PARTIES.

4.6 GOVERNING LAW. THIS SECOND AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE
VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

[SIGNATURES BEGIN NEXT PAGE]

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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

NUSTAR LOGISTICS, L.P.

By:    NuStar GP, Inc., its General Partner

By:    /s/ Steven A. Blank            
Name:    Steven A. Blank
Title:     Executive Vice President, Chief
Financial Officer and Treasurer

NUSTAR ENERGY L.P.

By:
Riverwalk Logistics, L.P., its General Partner

By:    NuStar GP, LLC, its General Partner

By:    /s/ Steven A. Blank            
Name:    Steven A. Blank
Title:     Executive Vice President, Chief
Financial Officer and Treasurer

NUSTAR PIPELINE OPERATING PARTNERSHIP L.P.

By:    /s/ Steven A. Blank            
Name:    Steven A. Blank
Title:     Executive Vice President, Chief
Financial Officer and Treasurer

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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JPMORGAN CHASE BANK, N.A., as a Lender, as Swingline Lender, as an Issuing Bank
and as Administrative Agent

By:     /s/ Muhammad Hasan            
Name: Muhammad Hasan            
Title: Vice President                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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SUNTRUST BANK, as Co-Syndication Agent, an Issuing Bank and as a Lender

By:     /s/ Carmen Malizia            
Name:     Carmen Malizia        
Title:     Vice President    

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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BARCLAYS BANK PLC, as Co-Documentation Agent and as a Lender

By:     /s/ Ronnie Glenn            
Name:     Ronnie Glenn                
Title:     Director                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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MIZUHO CORPORATE BANK, LTD., as Co-Syndication Agent and as a Lender

By:                         
Name:                         
Title:                         

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Co-Documentation Agent, as an Issuing Bank and as a Lender

By:     /s/ Courtney Kubesch            
Name:     Courtney Kubesch            
Title:     Vice President                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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COMPASS BANK, as a Lender

By:     /s/ Alex Mayral                
Name: Alex Mayral                
Title:     Executive Director            

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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DEUTSCHE BANK AG NEW YORK BRANCH,
as a Lender

By:     /s/ Ming K. Chu                
Name:     Ming K. Chu                
Title:     Vice President                

By:     /s/ Yvonne Tilden            
Name:     Yvonne     Tilden                
Title:     Director                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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MORGAN STANLEY BANK, N.A., as a Lender

By:     /s/ Dmitriy Barskiy            
Name:     Dmitriy Barskiy     
Title:     Authorized Signatory            

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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PNC BANK, NATIONAL ASSOCIATION, as a Lender

By:     /s/ M. Colin Warman            
Name:     M. Colin Warman    
Title:     Vice President        

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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ROYAL BANK OF CANADA, as a Lender

By:     /s/ Don J. McKinnerney            
Name:     Don J. McKinnerney    
Title:     Authorized Signatory            

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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SUMITOMO MITSUI BANKING CORPORATION,
as a Lender

By:                         
Name:                         
Title:                         

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
as a Lender

By:     /s/ Paul Farrell                
Name:     Paul Farrell    
Title:     Director                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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THE ROYAL BANK OF SCOTLAND PLC,
as a Lender

By:     /s/ Todd Vaubel                
Name:     Todd Vaubel                
Title:     Authorized Signatory            

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:     /s/ John Prigge                
Name:     John Prigge                
Title:     Vice President                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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UBS AG, Stamford Branch, as a Lender

By:     /s/ Irja R. Otsa                
Name:     Irja R. Otsa                
Title:     Associate Director, Banking Products Services, US

By:     /s/ Joselin Fernandez            
Name:     Associate Director            
Title:     Associate Director, Banking Products Services, US

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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BNP PARIBAS, as a Lender

By:     /s/ Joe Onischuk            
Name:     Joe Onischuk                
Title:     Managing Director            

By:     /s/ David Reynolds            
Name:     David Reynolds                
Title:     Vice President                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

By:     /s/ Alain Daoust                
Name:     Alain Daoust                
Title:     Director                

By:     /s/ Rahul Parmar            
Name:     Rahul Parmar                
Title:     Associate                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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BRANCH BANKING & TRUST COMPANY,
as a Lender

By:                         
Name:                         
Title:                         

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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CITIBANK, N.A., as a Lender

By:     /s/ Todd J. Mogil            
Name:     Todd J. Mogil                
Title:     Vice President                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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COMERICA BANK, as a Lender

By:     /s/ Joey Powell                
Name:     Joey Powell                
Title:     Vice President                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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GOLDMAN SACHS BANK USA, as a Lender

By:     /s/ Michelle Latzoni            
Name:     Michelle Latzoni            
Title:     Authorized Signatory            

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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SCOTIABANC INC., as a Lender

By:     /s/ J.F. Todd                
Name:     J.F. Todd                
Title:     Managing Director            

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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FROST BANK (formerly The Frost National Bank), as a Lender

By:     /s/ Sarah Cernosek            
Name: Sarah Cernosek                
Title:     Vice President                

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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CHANG HWA COMMERCIAL BANK, LTD.,
NEW YORK BRANCH, as a Lender

By:                         
Name:                         
Title:                         

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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FIRST COMMERCIAL BANK NEW YORK BRANCH,
as a Lender

By:                         
Name:                         
Title:                         

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT

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SECOND AMENDMENT TO 5-YEAR REVOLVING CREDIT AGREEMENT