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Exhibit 10.1

 
 
NINTH AMENDMENT TO SECOND AMENDED AND RESTATED
 
FIRST LIEN CREDIT AGREEMENT
 
This NINTH AMENDMENT TO SECOND AMENDED AND RESTATED FIRST LIEN CREDIT AGREEMENT
(“Amendment”), dated effective as of September 5, 2014 (the “Effective Date”),
is by and among Energy XXI Gulf Coast, Inc., a Delaware corporation (the
“Borrower”), EPL Oil & Gas, Inc., a Delaware corporation (“EPL”), the lenders
party to the First Lien Credit Agreement described below (the “Lenders”), and
The Royal Bank of Scotland plc, as administrative agent for the Lenders (in such
capacity, the “Administrative Agent”), and the other parties in the capacities
herein identified.
 
RECITALS
 
WHEREAS, the Borrower, the Lenders, the Administrative Agent and certain other
Persons are parties to the Second Amended and Restated First Lien Credit
Agreement, dated as of May 5, 2011, as amended by the First Amendment to Second
Amended and Restated First Lien Credit Agreement dated as of October 4, 2011, by
the Second Amendment to Second Amended and Restated First Lien Credit Agreement
dated as of May 24, 2012, by the Third Amendment to Second Amended and Restated
First Lien Credit dated as of October 19, 2012, by the Fourth Amendment to
Amended and Restated First Lien Credit Agreement dated as of April 9, 2013, by
the Fifth Amendment to Second Amended and Restated First Lien Credit Agreement
dated as of May 1, 2013, by the Sixth Amendment to Second Amended and Restated
First Lien Credit Agreement dated as of September 27, 2013, by the Seventh
Amendment to Second Amended and Restated First Lien Credit Agreement dated as of
April 7, 2014, and by the Eighth Amendment to the Second Amended and Restated
First Lien Credit Agreement dated as of May 23, 2014 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “First Lien
Credit Agreement”); and
 
WHEREAS, the Borrower has requested that the Administrative Agent, the Swing
Line Lender, the Issuers, and the Lenders amend the First Lien Credit Agreement
in certain respects as set forth herein.
 
NOW, THEREFORE, in consideration of the premises and the mutual covenants,
representations and warranties contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:
 
AGREEMENT
 
Section 1. Definitions.  Capitalized terms used herein but not defined herein
shall have the meanings as given them in the First Lien Credit Agreement, unless
the context otherwise requires.
 
 
 

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Section 2. Amendments to First Lien Credit Agreement.
 
(a) Amendment of Section 1.01.  Section 1.01 of the Credit Agreement is hereby
amended by adding the following definitions to such Section in appropriate
alphabetical order:
 
“Bank Product” means any one or more of the following financial products or
accommodations extended to any Obligor by a Bank Product Provider: (a) credit
cards, (b) credit card processing services, (c) debit cards, (d) stored value
cards, (e) purchase cards (including so-called “procurement cards” or “P-cards”)
or (f) cash management and treasury management services (including controlled
disbursement, automated clearinghouse transactions, return items, overdrafts and
interstate depository network services).
 
“Bank Product Agreements” means those agreements entered into from time to time
by the applicable Obligor with a Bank Product Provider in connection with the
obtaining of any of the Bank Products.
 
"Bank Product Obligations" means all Obligations, liabilities, reimbursement
Obligations, fees, or expenses owing by any Obligor to any Bank Product Provider
pursuant to or evidenced by a Bank Product Agreement and irrespective of whether
for the payment of money, whether direct or indirect, absolute or contingent,
due or to become due, now existing or hereafter arising.
 
"Bank Product Provider" means any Lender or any of its Affiliates; provided,
however, that no such Person (other than Regions Bank and its Affiliates) shall
constitute a Bank Product Provider with respect to a Bank Product unless and
until Administrative Agent shall have received a written notice from such Person
identifying such person as a Bank Product Provider and specifying the applicable
Bank Product within 10 days after the provision of such Bank Product to any
Obligor; provided further, however, that if, at any time, a Lender ceases to be
a Lender under the Agreement, then, from and after the date on which it ceases
to be a Lender thereunder, neither it nor any of its Affiliates shall constitute
Bank Product Providers (except with respect to Bank Product Obligations incurred
while such Lender was a Lender hereunder) and the Obligations with respect to
Bank Products provided by such former Lender or any of its Affiliates shall no
longer constitute Bank Product Obligation.
 
“Secured Debt” means, on any date and without duplication, the amount of Total
Debt of the Borrower and its Subsidiaries that is secured by a Lien on any
property and/or assets of the Borrower and/or its Subsidiaries.
 
“Secured Debt Leverage Ratio” means, as of the last day of any Fiscal Quarter,
the ratio of
 
(a)  
  Secured Debt outstanding on the last day of such Fiscal Quarter

 
to
 
 
 

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(b)  
  EBITDA computed for the period consisting of such Fiscal Quarter and each of
the three immediately preceding Fiscal Quarters;

 
provided, however, that for purposes of the calculation of Secured Debt for
purposes of this definition, Secured Debt shall not include (i) Letters of
Credit that support payment of performance, surety or appeal bonds (or similar
obligations) that are Indebtedness to the extent it would cause a duplication of
Indebtedness for such calculation or (ii) Letters of Credit to the extent such
Letters of Credit are Cash Collateralized.
 
(b) Amendment of Section 1.01.  Section 1.01 of this Credit Agreement is amended
by deleting the definitions of “Obligations” and “Secured Party” and replacing
them in their entirety with the following:
 
“Obligations” means all obligations (monetary or otherwise, whether absolute or
contingent, matured or unmatured) of the Borrower and each other Obligor arising
under or in connection with a Loan Document or a Bank Product Agreement
including Reimbursement Obligations and the principal of and premium, if any,
and interest (including interest accruing (or which would have accrued) during
the pendency of any proceedings of the type described in Section 8.1.9, whether
or not allowed in such proceeding) on the Loans and such obligations.  For sake
of clarity, (i) the Obligations shall include all Hedging Obligations of any
Obligor in respect of transactions under Hedging Agreements and all Bank Product
Obligations under Bank Product Agreements entered into with any Lender or
Affiliate of any Lender at the time such Lender is a Lender hereunder or in
effect between such Obligor and such Lender or such Affiliate of any Lender on
the Eighth Amendment Effective Date, as applicable and (ii) the Bank Product
Obligations shall be deemed to be Obligations and “Secured Obligations” under
the Security Documents.  Notwithstanding the foregoing, with respect to any
Obligor (other than Borrower), the term “Obligation” shall not include Excluded
Swap Obligations.
 
“Secured Parties” means, collectively, (a) the Lenders, (b) the Issuers, (c) the
Administrative Agent and the other Agents, and (d) each Approved Counterparty to
a Hedging Agreement and each Bank Product Provider party to a Bank Product
Agreement with the Borrower or EPL (or any of their Subsidiaries that is a
Guarantor) that is or was a Lender or an Affiliate thereof at the time such
Approved Counterparty entered into such Hedging Agreement or such Bank Product
Provider entered into such Bank Product Agreement, as the case may be, or that
was in effect between such Obligor and such Lender or such Affiliate of such
Lender on the Eighth Amendment Effective Date (provided that such Approved
Counterparty or Bank Product Provider, as the case may be, is a Secured Party
only for purposes of each such Hedging Agreement or Bank Product Agreement, as
the case may be, so entered or such Hedging Agreement or Bank Product Agreement,
as the case may be, as was in effect and not for any Hedging Agreement or Bank
Product Agreement, as the case may be, entered into after such Approved
Counterparty or Bank Product Provider, as the case may be, ceases to be a Lender
or Affiliate thereof), and in each case each of their respective successor,
transferees and assigns.
 
 
 

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(c) Amendment of Section 7.2.4(a).  Section 7.2.4(a) of the Credit Agreement is
hereby amended and restated in its entirety to the following:
 
“(a)           The Borrower will not permit the Total Leverage Ratio as of the
last day of the Fiscal Quarters ending June 30, 2014, September 30, 2014,
December 31, 2014 and March 31, 2015, to be greater than 4.25 to 1.00 and as of
the last day of any Fiscal Quarter ending thereafter to be greater than 4.0 to
1.00.”
 
(d) Section 7.2.4.  Section 7.2.4 of the Credit Agreement is hereby amended by
adding the following Section 7.2.4(d) to the end of such Section 7.2.4:
 
“The Borrower will not permit the Secured Debt Leverage Ratio as of the last day
of the Fiscal Quarters ending September 30, 2014, December 31, 2014 and
March 31, 2015 to be greater than 1.75 to 1.00 and for any Fiscal Quarter ending
thereafter to be greater than 1.50 to 1.00.”
 
(e) Amendment to Section 9.6.  Section 9.6 of the Credit Agreement is hereby
amended by deleting the phrase “Cadwalader Wickersham & Taft LLP) and replacing
it with the phrase “Bracewell & Giuliani LLP.”
 
(f) Amendment to Section 9.8.  Section 9.8 of the Credit Agreement is hereby
amended by deleting such Section and replacing it  in its entirety with the
following:
 
Section 9.8  Reliance by Agents and Issuers.  Each Agent and each Issuer shall
be entitled to rely upon any certification, notice or other communication
(including any thereof by telephone, telecopy, telegram, email or cable)
believed by it to be genuine and correct and to have been signed or sent by or
on behalf of the proper Person, and upon advice and statements of legal counsel,
independent accountants and other experts selected by such Agent or such
Issuer.  As to any matters not expressly provided for by the Loan Documents,
each Agent and each Issuer shall in all cases be fully protected in acting, or
in refraining from acting, thereunder in accordance with instructions given by
the Required Lenders or all of the Lenders as is required in such circumstance,
and such instructions of such Lenders and any action taken or failure to act
pursuant thereto shall be binding on all Secured Parties.  For purposes of
applying amounts in accordance with this Section, the Administrative Agent shall
be entitled to rely upon any Secured Party that has entered into a Hedging
Agreement or Bank Product Agreement with any Obligor for a determination (which
such Secured Party agrees to provide or cause to be provided upon request of the
Administrative Agent) of the outstanding Obligations owed to such Secured Party
under any Hedging Agreement or Bank Product Agreement, as the case may
be.  Unless it has actual knowledge evidenced by way of written notice from any
such Secured Party and the Borrower to the contrary, the Administrative Agent,
in acting in such capacity under the Loan Documents, shall be entitled to assume
that no Hedging Agreements or Obligations in respect thereof or Bank Product
Agreement or Bank Product Obligations are in existence or outstanding between
any Secured Party and any Obligor.
 
 
 

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Section 3. Borrowing Base.  The Borrower and the Lenders hereby agree that
effective as of the Effective Date (i) the Borrowing Base is set at
$1,500,000,000 for the period from such date to the date of the next
determination of the Borrowing Base pursuant to the provisions of Section 2.8.2
of the Credit Agreement or, if earlier, the date of any other adjustment to the
Borrowing Base pursuant to the provisions of the Credit Agreement, as the case
may be, and (ii) the EPL Borrowing Base is set at $475,000,000 for the period
from the Effective Date to the date of the next determination of the EPL
Borrowing Base pursuant to the provisions of Section 2.8.10 of the Credit
Agreement or, if earlier, the date of any other adjustment to the EPL Borrowing
Base pursuant to the provisions of the Credit Agreement, as the case may be.
 
 
Section 4. Conditions to Effectiveness.  This Amendment shall be deemed
effective (subject to the conditions herein contained) as of the Effective Date
when the Administrative Agent has received counterparts hereof duly executed by
the Borrower, the Administrative Agent and the Required Lenders and upon the
prior or concurrent satisfaction of each of the following conditions:
 
(a) the Administrative Agent shall have received for its own account, or for the
account of each Lender, as the case may be, (i) all fees, costs and expenses due
and payable pursuant to Section 3.3 of the First Lien Credit Agreement, if any,
(ii) a fee to each Lender that executes and delivers a counterpart of this
Amendment to the Administrative Agent on or before the Effective Date of 15bps
on such Lender’s Percentage of the Aggregate Commitment and, (iii) if then
invoiced, any amounts payable pursuant to Section 10.3 of the First Lien Credit
Agreement;
 
(b) the representations and warranties in Section 5 below are true and correct;
and
 
(c) no Default, Event of Default, Borrowing Base Deficiency or EPL Borrowing
Base Deficiency shall have occurred and be continuing.
 
Notwithstanding the foregoing, this Amendment shall not become effective and the
agreements hereunder will be terminated unless each of the foregoing conditions
is satisfied (or waived in writing) on or prior to September 15, 2014.
 
Section 5. Representations and Warranties.  The Borrower and EPL hereby
represents and warrants that after giving effect hereto:
 
(a) the representations and warranties of the Obligors contained in the Loan
Documents are true and correct in all material respects, other than those
representations and warranties that expressly relate solely to a specific
earlier date, which shall remain correct in all material respects as of such
earlier date;
 
(b) the execution, delivery and performance by the Borrower, EPL and each other
Obligor of this Amendment and the other Loan Documents have been duly authorized
by all necessary corporate or other action required on their part and this
Amendment, along with the First Lien Credit Agreement as amended hereby and the
other Loan Documents, constitutes the legal, valid and binding obligation of
each Obligor a party thereto enforceable against them in accordance with its
terms, except as its enforceability may be affected by the effect of bankruptcy,
insolvency, reorganization, moratorium or other similar laws now or hereafter in
effect relating to or affecting the rights or remedies of creditors generally;
 
 
 

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(c) neither the execution, delivery and performance of this Amendment by the
Borrower, EPL and each other Obligor, the performance by them of the First Lien
Credit Agreement as amended hereby nor the consummation of the transactions
contemplated hereby does or shall contravene, result in a breach of, or violate
(i) any provision of any Obligor’s certificate or articles of incorporation or
bylaws or other similar documents, or agreements, (ii) any law or regulation, or
any order or decree of any court or government instrumentality, or (iii) any
indenture, mortgage, deed of trust, lease, agreement or other instrument to
which any Obligor or any of its Subsidiaries is a party or by which any Obligor
or any of its Subsidiaries or any of their property is bound, except in any such
case to the extent such conflict or breach has been waived by a written waiver
document, a copy of which has been delivered to Administrative Agent on or
before the date hereof;
 
(d) no Material Adverse Effect has occurred since June 30, 2014; and
 
(e) no Default or Event of Default or Borrowing Base Deficiency has occurred and
is continuing.
 
Section 6. Loan Document; Ratification.
 
(a) This Amendment is a Loan Document.
 
(b) The Borrower, EPL and each other Obligor hereby ratifies, approves and
confirms in every respect all the terms, provisions, conditions and obligations
of the First Lien Credit Agreement as amended hereby and each of the other Loan
Documents including without limitation all Mortgages, Security Agreements,
Guaranties, Control Agreements and other Security Documents, to which it is a
party.
 
Section 7. Costs and Expenses.  As provided in Section 10.3 of the First Lien
Credit Agreement, the Borrower and EPL agree to reimburse Administrative Agent
for all fees, costs, and expenses, including the reasonable fees, costs, and
expenses of counsel or other advisors for advice, assistance, or other
representation, in connection with this Amendment and any other agreements,
documents, instruments, releases, terminations or other collateral instruments
delivered by the Administrative Agent in connection with this Amendment.
 
Section 8. GOVERNING LAW.  THIS AMENDMENT SHALL BE DEEMED A CONTRACT AND
INSTRUMENT MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE CONSTRUED
AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK AND THE LAWS OF THE UNITED STATES OF AMERICA, WITHOUT REGARD TO PRINCIPLES
OF CONFLICTS OF LAW.
 
Section 9. Severability.  Any provision of this Amendment that is prohibited or
unenforceable in any jurisdiction shall, as to such provision and such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Amendment
or affecting the validity or enforceability of such provision in any other
jurisdiction.
 
 
 

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Section 10. Counterparts.  This Amendment may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
instrument, and any party hereto may execute this Amendment by signing one or
more counterparts.  Any signature hereto delivered by a party by facsimile or
electronic transmission shall be deemed to be an original signature hereto.
 
Section 11. No Waiver.  The execution, delivery and effectiveness of this
Amendment shall not operate as a waiver of any default of the Borrower, EPL or
any other Obligor or any right, power or remedy of the Administrative Agent or
the other Secured Parties under any of the Loan Documents, nor constitute a
waiver of (or consent to departure from) any terms, provisions, covenants,
warranties or agreements of any of the Loan Documents.  The parties hereto
reserve the right to exercise any rights and remedies available to them in
connection with any present or future defaults with respect to the First Lien
Credit Agreement or any other provision of any Loan Document.
 
Section 12. Successors and Assigns.  This Amendment shall be binding upon the
Borrower, EPL and their respective successors and permitted assigns and shall
inure, together with all rights and remedies of each Secured Party hereunder, to
the benefit of each Secured Party and the respective successors, transferees and
assigns.
 
Section 13. Entire Agreement.  THIS AMENDMENT, THE FIRST LIEN CREDIT AGREEMENT
AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT OF THE PARTIES WITH
RESPECT TO THE SUBJECT MATTER HEREOF 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.
 
(Signature Pages Follow)

 
 
 

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In Witness Whereof, the parties hereto have caused this Amendment to be duly
executed and delivered by their respective duly authorized officers as of the
date first written above.
 
 
 
ENERGY XXI GULF COAST, INC.

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
Annex I - Page 1

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EPL OIL & GAS, INC.

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
Annex I - Page 2

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THE ROYAL BANK OF SCOTLAND plc, as the Administrative Agent, an Issuer and a
Lender

 
 
By:
   /s/ James L. Moyes
 

 
 
Name:  James L. Moyes

 
 
Title:  Managing Director

 

 

 
 
Annex I - Page 3

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WELLS FARGO BANK, N.A., as an Issuer and Lender

 
 
By:
   /s/ Betsy Jocher
 

 
 
Name:  Betsy Jocher

 
 
Title:  Director

 
 
Annex I - Page 4

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AMEGY BANK NATIONAL ASSOCIATION, as Lender

 
 
By:
   /s/ Kevin James
 

 
 
Name:  Kevin A. James

 
 
Title:  Vice President

 
 
Annex I - Page 5

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THE BANK OF NOVA SCOTIA, as Lender

 
 
By:
   /s/ Alan Dawson
 

 
 
Name:  Alan Dawson

 
 
Title:  Director

 
 
Annex I - Page 6

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TORONTO DOMINION (TEXAS) LLC, as Lender

 
 
By:
   /s/ Masood Fikree
 

 
 
Name:  Masood Fikree

 
 
Title:  Authorized Signatory

 
 
Annex I - Page 7

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CAPITAL ONE, NATIONAL ASSOCIATION, as Lender

 
 
By:
   /s/ Juan Trejo
 

 
 
Name:  Juan Trejo

 
 
Title:  Vice President

 
 
Annex I - Page 8

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NATIXIS, NEW YORK BRANCH, as Lender

 
 
By:
   /s/ Stuart Murray
 

 
 
Name:  Stuart Murray

 
 
Title:  Managing Director

 
 
By:
   /s/ Louis P. Laville, III
 

 
 
Name:  Louis P. Laville, III

 
 
Title:  Managing Director

 
 
Annex I - Page 9

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BARCLAYS BANK PLC, as Lender

 
 
By:
   /s/ Vanessa A. Kurbatskiy
 

 
 
Name:  Vanessa A. Kurbatskiy

 
 
Title:  Vice President

 
 
Annex I - Page 10

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Lender

 
 
By:
   /s/ Nupur Kumar
 

 
 
Name:  Nupur Kumar

 
 
Title:  Authorized Signatory

 
 
By:
   /s/ Whitney Gaston
 

 
 
Name:  Whitney Gaston

 
 
Title:  Authorized Signatory

 
 
Annex I - Page 11

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ING CAPITAL LLC, as Lender

 
 
By:
   /s/ Charles Hall
 

 
 
Name:  Charles Hall

 
 
Title:  Managing Director

 
 
By:
   /s/ Michael Price
 

 
 
Name:  Michael Price

 
 
Title:  Managing Director

 
 
Annex I - Page 12

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REGIONS BANK, as Lender and as Swing Line Lender

 
 
By:
   /s/ Kelly L. Elmore III
 

 
 
Name:  Kelly L. Elmore III

 
 
Title: Senior Vice President

 
 
Annex I - Page 13

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CITIBANK, N.A., as Lender

 
 
By:
   /s/ Peter Kardos
 

 
 
Name:  Peter Kardos

 
 
Title: Vice President

 
 
Annex I - Page 14

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UBS AG, STAMFORD BRANCH, as Issuer and Lender

 
 
By:
   /s/ Lana Gifas
 

 
 
Name:  Lana Gifas

 
 
Title:  Director

 
 
By:
   /s/ Jennifer Anderson
 

 
 
Name:  Jennifer Anderson

 
 
Title:  Associate Director

 
 
Annex I - Page 15

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DEUTSCHE BANK AG NEW YORK BRANCH, as Lender

 
 
By:
   /s/ Peter Cucchiara
 

 
 
Name:  Peter Cucchiara

 
 
Title:  Vice President

 
 
By:
   /s/ Michael Shannon
 

 
 
Name:  Michael Shannon

 
 
Title:  Vice President

 

 
 
Annex I - Page 16

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COMMONWEALTH BANK OF AUSTRALIA, as Lender

 
 
By:
   /s/ Sanjay Remond
 

 
 
Name:  Sanjay Remond

 
 
Title:  Director

 
 
Annex I - Page 17

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COMERICA BANK, as Lender

 
 
By:
   /s/ Jeffery Treadway
 

 
 
Name:  Jeffery Treadway

 
 
Title:  Senior Vice President

 
 
Annex I - Page 18

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FIFTH THIRD BANK, as Lender

 
 
By:
   /s/ Justin Crawford
 

 
 
Name:  Justin Crawford

 
 
Title:  Director

 
 
Annex I - Page 19

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ABN AMRO CAPITAL USA LLC, as Lender

 
 
By:
   /s/ Francis Birkeland
 

 
 
Name:  Francis Birkeland

 
 
Title:  Managing Director

 
 
By:
   /s/ Laurence Guguen
 

 
 
Name:  Laurence Guguen

 
 
Title:  Executive Director

 
 
Annex I - Page 20

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SUMITOMO MITSUI BANKING CORPORATION, as Lender

 
 
By:
   /s/ James D. Weinstein
 

 
 
Name:  James D. Weinstein

 
 
Title:  Managing Director

 
 
Annex I - Page 21

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KEYBANK NATIONAL ASSOCIATION, as Lender

 
 
By:
   /s/ George E. McKean
 

 
 
Name:  George E. McKean

 
 
Title:  Senior Vice President

 
 
Annex I - Page 22

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SANTANDER BANK, N.A., as Lender

 
 
By:
   /s/ Vaughn Buck
 

 
 
Name:  Vaughn Buck

 
 
Title:  EVP

 
 
By:
   /s/ Puiki Lok
 

 
 
Name:  Puiki Lok

 
 
Title: VP

 
 
Annex I - Page 23

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WHITNEY BANK, as Lender

 
 
By:
   /s/ Liana Tchernysheva
 

 
 
Name:  Liana Tchernysheva

 
 
Title:  Senior Vice President

 
 
Annex I - Page 24

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CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as Lender

 
 
By:
   /s/ Trudy Nelson
 

 
 
Name:  Trudy Nelson

 
 
Title:  Authorized Signatory

 
 
By:
   /s/ William Reid
 

 
 
Name:  William Reid

 
 
Title:  Authorized Signatory

 
 
Annex I - Page 25

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Lender

 
 
By:
   /s/ Sharada Manne
 

 
 
Name:  Sharada Manne

 
 
Title:  Managing Director

 
 
By:
   /s/ Michael Willis
 

 
 
Name:  Michael Willis

 
 
Title:  Managing Director

 
 
Annex I - Page 26

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IBERIABANK, as Lender

 
 
By:
   /s/ W. Bryan Chapman
 

 
 
Name:  W. Bryan Chapman

 
 
Title: Executive Vice President

 
 
Annex I - Page 27

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PNC BANK, NATIONAL ASSOCIATION, as Lender

 
 
By:
   /s/ Sandra Aultman
 

 
 
Name:  Sandra Aultman

 
 
Title:  Managing Director

 

 
 
Annex I - Page 28

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ACKNOWLEDGED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN:

 
 
ENERGY XXI GOM, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
ENERGY XXI TEXAS ONSHORE, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
ENERGY XXI ONSHORE, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
ENERGY XXI PIPELINE, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
ENERGY XXI LEASEHOLD, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
 
Annex I - Page 29

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ENERGY XXI PIPELINE II, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
MS ONSHORE, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
EPL PIPELINE, L.L.C.

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
NIGHTHAWK, L.L.C.

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
EPL OF LOUISIANA, L.L.C.

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
Annex I - Page 30

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DELAWARE EPL OF TEXAS, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
ANGLO-SUISSE OFFSHORE PIPELINE

 
PARTNERS, LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
EPL PIONEER HOUSTON, INC.

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
ENERGY PARTNERS, LTD., LLC

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 
 
Annex I - Page 31

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ACKNOWLEDGED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN IN ITS CAPACITY AS
GUARANTOR UNDER ITS LIMITED RECOURSE GUARANTY AND GRANTOR UNDER ITS PLEDGE
AGREEMENT AND IRREVOCABLE PROXY DELIVERED IN CONNECTION WITH THE FIRST LIEN
CREDIT AGREEMENT:
 
 
ENERGY XXI USA, INC.

 
 
By:
   /s/ Ben Marchive
 

 
 
Name:  Ben Marchive

 
 
Title:  President

 

 
 
Annex I - Page 32

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