Exhibit 10.33
FIRST AMENDMENT
This FIRST AMENDMENT (“Amendment”) dated as of May 16, 2011 (the “Effective
Date”) is by and among Brigham Oil & Gas, L.P., a Delaware limited partnership
(the “Borrower”), Brigham Exploration Company, a Delaware corporation (“Brigham
Exploration”), Brigham Inc., a Nevada corporation (the “General Partner”,
together with Brigham Exploration, each a “Guarantor” and collectively the
“Guarantors”, and together with Brigham Exploration and the Borrower, each a
“Credit Party” and collectively the “Credit Parties”), the Lenders party hereto,
and Bank of America, N.A., as administrative agent for the Lenders (in such
capacity, the “Administrative Agent”).
WHEREAS, the Borrower, the Guarantors, the lenders from time to time party
thereto (the “Lenders”), and the Administrative Agent are parties to the Fifth
Amended and Restated Credit Agreement, dated as of February 23, 2011 (the
“Credit Agreement”);
WHEREAS, the parties hereto have agreed to make certain amendments to the Credit
Agreement as provided for herein, subject to the conditions 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. Defined Terms. Unless otherwise defined in this Amendment, each
capitalized term used in this Amendment has the meaning given such term in the
Credit Agreement.
Section 2. Amendment to the Credit Agreement.
(a) Section 1.01 of the Credit Agreement is hereby amended by inserting the
following new definitions in their appropriate alphabetical order:
“2011 Permitted Senior Notes” means the Permitted Senior Notes issued and sold
during the period from the First Amendment Effective Date through the date of
the Borrowing Base redetermination provided for in Section 2.02(b) scheduled to
occur after the delivery of the Internal Engineering Report due October 1, 2011.
“First Amendment Effective Date” means May 16, 2011.
(b) Section 1.01 of the Credit Agreement is hereby amended by replacing the
definition of “Maximum Permitted Senior Note Amount” with the following
definition:
“Maximum Permitted Senior Note Amount” means $300,000,000; provided that in
connection with the issuance of the 2011 Permitted Senior Notes the Maximum
Permitted Senior Note Amount shall automatically increase (up to but not
exceeding $600,000,000) by an amount equal to (i) the stated aggregate principal
amount of the 2011 Permitted Senior Notes issued minus (ii) the aggregate
principal amount of any Permitted Senior Notes redeemed, retired or purchased
with the proceeds from the sale or issuance of the 2011 Permitted Senior Notes.

 

 

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Section 3. Conditions to Effectiveness. This Amendment shall become effective as
of the Effective Date when the Administrative Agent has received counterparts
hereof duly executed by the Borrower, each Guarantor, the Administrative Agent
and the Majority Lenders.
Section 4. Representations and Warranties. Each Credit Party hereby represents
and warrants that after giving effect hereto:
(a) the representations and warranties of such Credit Party contained in the
Loan Documents are true and correct in all material respects on and as of the
Effective Date, other than those representations and warranties that expressly
relate solely to a specific earlier date, which shall remain correct as of such
earlier date; and
(b) no Default or Event of Default has occurred and is continuing.
Section 5. Reaffirmation of Guaranty. Each Guarantor hereby ratifies, confirms,
and acknowledges that its obligations under the Credit Agreement are in full
force and effect and that each Guarantor continues to unconditionally and
irrevocably, jointly and severally, guarantee the full and punctual payment,
when due, whether at stated maturity or earlier by acceleration or otherwise,
all of the Obligations (subject to the terms of Article VIII of the Credit
Agreement), as such Obligations may have been amended by this Amendment. Each
Guarantor hereby acknowledges that its execution and delivery of this Amendment
does not indicate or establish an approval or consent requirement by the
Guarantors in connection with the execution and delivery of consents, waivers or
amendments to the Credit Agreement or any of the other Loan Documents.
Section 6. Effect of Amendment,
(a) The execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or
remedy of any Lender, the Issuing Lender or the Administrative Agent under any
of the Loan Documents, nor, except as expressly provided herein, constitute a
waiver or amendment of any provision of any of the Loan Documents.
(b) Upon and after the execution of this Amendment by each of the parties
hereto, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof” or words of like import referring to the Credit Agreement, and each
reference in the other Loan Documents to “the Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement, shall mean
and be a reference to the Credit Agreement as modified hereby.

 

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(c) This Amendment is a Loan Document executed pursuant to the Credit Agreement
and shall (unless otherwise expressly indicated herein) be construed,
administered and applied in accordance with the terms and provisions thereof.
(d) Except as specifically modified above, the Credit Agreement and the other
Loan Documents are and shall continue to be in full force and effect and are
hereby in all respects ratified and confirmed.
Section 7. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK AND THE APPLICABLE LAWS OF THE UNITED STATES
OF AMERICA.
Section 8. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Transmission by facsimile
of an executed counterpart of this Amendment, or of an executed signature page
of this Agreement, shall be deemed to constitute due and sufficient delivery of
such counterpart.
[Remainder of Page Intentionally Left Blank]

 

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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 to be
effective as of the Effective Date.

            BORROWER:

BRIGHAM OIL & GAS, L.P.
      By:   Brigham, Inc., its general partner             By:   /s/ Eugene B.
Shepherd, Jr.         Eugene B. Shepherd, Jr.        Executive Vice President
and Chief Financial Officer        GUARANTORS:

BRIGHAM EXPLORATION COMPANY
      By:   /s/ Eugene B. Shepherd, Jr.         Eugene B. Shepherd, Jr.       
Executive Vice President and Chief Financial Officer        BRIGHAM, INC.
      By:   /s/ Eugene B. Shepherd, Jr.         Eugene B. Shepherd, Jr.       
Executive Vice President and Chief Financial Officer   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            ADMINISTRATIVE AGENT:

BANK OF AMERICA, N.A.,
as Administrative Agent
      By:   /s/ Jeffrey M. Rush         Name:   Jeffrey M. Rush        Title:  
Managing Director   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            LENDERS:

BANK OF AMERICA, N.A.
      By:   /s/ Jeffrey H. Rathkamp         Jeffrey H. Rathkamp        Managing
Director   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            THE ROYAL BANK OF SCOTLAND plc
      By:   /s/ Steve Ray         Name:   Steve Ray        Title:   Director   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            BNP PARIBAS
      By:   /s/ Richard Hawthorne         Name:   Richard Hawthorne       
Title:   Director            By:   /s/ Betsy Joche         Name:   Betsy Joche 
      Title:   Director   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            NATIXIS
      By:   /s/ Donovan C. Broussard         Name:   Donovan C. Broussard       
Title:   Managing Director            By:   /s/ Louis P. Laville, III        
Name:   Louis P. Laville, III        Title:   Managing Director   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            CAPITAL ONE, NATIONAL ASSOCIATION
      By:   /s/ Peter Shen         Name:   Peter Shen        Title:   Vice
President   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
      By:   /s/ Mikhail Faybusovich         Name:   Mikhail Faybusovich       
Title:   Director            By:   /s/ Vipul Dhadda         Name:   Vipul
Dhadda        Title:   Associate   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            COMPASS BANK
      By:   /s/ Spencer Stasney         Name:   Spencer Stasney        Title:  
Vice President   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            COMERICA BANK
      By:   /s/ Justin Crawford         Name:   Justin Crawford        Title:  
Vice President   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            ROYAL BANK OF CANADA
      By:   /s/ Jay Sartain         Name:   Jay Sartain        Title:  
Authorized Signatory   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            UNION BANK, N.A.
      By:   /s/ Scott Gildea         Name:   Scott Gildea        Title:   Vice
President   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            U.S. BANK, NATIONAL ASSOCIATION
      By:   /s/ John C. Lozano         Name:   John C. Lozano        Title:  
Vice President   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            BANK OF SCOTLAND PLC, NEW YORK BRANCH
      By:   /s/ Julia R. Franklin         Name:   Julia R. Franklin       
Title:   Assistant Vice President   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            WELLS FARGO BANK, N.A.
      By:   /s/ Scott Hodges         Name:   Scott Hodges        Title:  
Director & Senior Relationship Manager   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.

 

 

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            AMEGY BANK, NATIONAL ASSOCIATION
      By:   /s/ Mark A. Serice         Name:   Mark A. Serice        Title:  
Senior Vice President   

Signature Page to First Amendment to Credit Agreement
Brigham Oil & Gas, L.P.