Exhibit 10.1

 

FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

This Fifth Amendment to Amended and Restated Credit Agreement (this “Fifth
Amendment”) is made as of September 7, 2012, by and among GLOBAL OPERATING LLC,
a Delaware limited liability company (“OLLC”), GLOBAL COMPANIES LLC, a Delaware
limited liability company (“Global”), GLOBAL MONTELLO GROUP CORP., a Delaware
corporation (“Montello”), GLEN HES CORP., a Delaware corporation (“Glen Hes”),
CHELSEA SANDWICH LLC, a Delaware limited liability company (“Chelsea LLC”), GLP
FINANCE CORP., a Delaware corporation (“Finance”), GLOBAL ENERGY MARKETING LLC,
a Delaware limited liability company (“GEM”), ALLIANCE ENERGY LLC, a
Massachusetts limited liability company (“Alliance”, and, collectively with
OLLC, Global, Montello, Glen Hes, Chelsea LLC, Finance and GEM, the “Borrowers”
and each a “Borrower”), GLOBAL PARTNERS LP, a Delaware limited partnership (the
“MLP”), GLOBAL GP LLC, a Delaware limited liability company (the “GP” and,
collectively with the MLP, the “Original Guarantors and each individually, an
“Original Guarantor”), each “Lender” (as such term is defined in the Credit
Agreement referred to below) party hereto (each, a “Lender” and collectively,
the “Lenders”) and Bank of America, N.A. as Administrative Agent, Swing Line
Lender and L/C Issuer (as each such term is defined in the Credit Agreement),
amending certain provisions of that certain Amended and Restated Credit
Agreement dated as of May 14, 2010 (as amended and in effect from time to time,
the “Credit Agreement”) by and among the Borrowers, the Original Guarantors, the
Lenders, the Administrative Agent, the L/C Issuer, the Swing Line Lender,
JPMorgan Chase Bank, N.A. as Syndication Agent and Societe Generale, Standard
Chartered Bank, Wells Fargo Bank, N.A. and RBS Citizens, National Association,
as Co-Documentation Agents.  Terms not otherwise defined in the Credit Agreement
shall have the same respective meanings herein as therein.

 

WHEREAS, the Loan Parties, the Lenders, the Administrative Agent, the Swing Line
Lender and the L/C Issuer desire to amend certain provisions of the Credit
Agreement as provided more fully herein below;

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements
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:

 

§1.  Amendment to Section 7 of the Credit Agreement.  Section 7.19 of the Credit
Agreement is hereby amended by deleting Section 7.19 in its entirety and
restating it as follows:

 

7.19.                        Capital Expenditures.  Make or become legally
obligated to make any Capital Expenditures in any fiscal year that exceed, in
the aggregate for all Loan Parties, (a) $55,000,000 for the fiscal year ending
December 31, 2012; and (b) $40,000,000 for any fiscal year ending December 31,
2013 and thereafter.

 

§2.  Conditions to Effectiveness.This Fifth Amendment will become effective as
of the date hereof upon receipt by the Administrative Agent of fully-executed
original counterparts of this Fifth Amendment executed by the Loan Parties, the
Administrative Agent, the Swing Line Lender, the L/C Issuer and the required
Lenders.

 

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§3.                               Representations and Warranties.  Each of the
Loan Parties hereby repeats, on and as of the date hereof, each of the
representations and warranties made by it in Article V of the Credit Agreement,
provided, that all references therein to the Credit Agreement shall refer to
such Credit Agreement as amended hereby.  In addition, each of the Loan Parties
hereby represents and warrants that the execution and delivery by such Loan
Party of this Fifth Amendment and the performance by each such Loan Party of all
of its agreements and obligations under the Credit Agreement as amended hereby
and the other Loan Documents to which it is a party are within the corporate,
partnership and/or limited liability company authority of each of the Loan
Parties and have been duly authorized by all necessary corporate, partnership
and/or membership action on the part of each of the Loan Parties.

 

§4.                               Ratification, Etc.  Except as expressly
amended hereby, the Credit Agreement and all documents, instruments and
agreements related thereto, including, but not limited to the Security
Documents, are hereby ratified and confirmed in all respects and shall continue
in full force and effect.  The Credit Agreement and this Fifth Amendment shall
be read and construed as a single agreement.  All references in the Credit
Agreement or any related agreement or instrument to the Credit Agreement shall
hereafter refer to the Credit Agreement as amended hereby.  This Fifth Amendment
shall constitute a Loan Document.

 

§5.                               No Waiver.  Nothing contained herein shall
constitute a waiver of, impair or otherwise affect any Obligations, any other
obligation of the Loan Parties or any rights of the Administrative Agent, the
L/C Issuer, the Swing Line Lender, the Syndication Agent, the Co-Documentation
Agents or the Lenders consequent thereon.

 

§6.                               Counterparts.  This Fifth Amendment may be
executed in one or more counterparts, each of which shall be deemed an original
but which together shall constitute one and the same instrument.

 

§7.                               Governing Law.  THIS FIFTH AMENDMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
(WITHOUT REFERENCE TO CONFLICT OF LAWS).

 

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IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amendment as a
document under seal as of the date first above written.

 

 

GLOBAL OPERATING LLC

 

By: Global Partners LP, its sole member

 

By: Global GP LLC, its general partner

 

 

 

 

 

By:

/s/ Thomas J. Hollister

 

 

Title:  Chief Operating Officer and Chief Financial Officer

 

 

 

GLOBAL COMPANIES LLC

 

By: Global Operating LLC, its sole member

 

By: Global Partners LP, its sole member

 

By: Global GP LLC, its general partner

 

 

 

 

 

By:

/s/ Thomas J. Hollister

 

 

Title:  Chief Operating Officer and Chief Financial Officer

 

 

 

 

 

GLOBAL MONTELLO GROUP CORP.

 

 

 

 

 

By:

/s/ Thomas J. Hollister

 

 

Title:  Chief Operating Officer and Chief Financial Officer

 

 

 

 

 

 

 

 

 

CHELSEA SANDWICH LLC

 

By: Global Operating LLC, its sole member

 

By: Global Partners LP, its sole member

 

By: Global GP LLC, its general partner

 

 

 

 

 

By:

/s/ Thomas J. Hollister

 

 

Title:  Chief Operating Officer and Chief Financial Officer

 

 

 

 

 

 

 

 

 

GLEN HES CORP.

 

 

 

 

 

By:

/s/ Edward J. Faneuil

 

 

Title:  Executive Vice President

 

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GLP FINANCE CORP.

 

 

 

 

 

By:

/s/ Edward J. Faneuil

 

 

Title:  Executive Vice President

 

 

 

 

 

GLOBAL ENERGY MARKETING LLC

 

By: Global Operating LLC, its sole member

 

By: Global Partners LP, its sole member

 

By: Global GP LLC, its general partner

 

 

 

 

 

By:

/s/ Edward J. Faneuil

 

 

Title:  Executive Vice President

 

 

 

 

 

 

 

 

 

ALLIANCE ENERGY LLC

 

By: Global Operating LLC, its sole member

 

By: Global Partners LP, its sole member

 

By: Global GP LLC, its general partner

 

 

 

 

 

By:

/s/ Edward J. Faneuil

 

 

Title:  Executive Vice President

 

 

 

 

 

GLOBAL PARTNERS LP

 

By: Global GP LLC, its general partner

 

 

 

 

 

By:

/s/ Daphne H. Foster

 

 

Title:  Treasurer

 

 

 

 

 

GLOBAL GP LLC

 

 

 

 

 

By:

/s/ Daphne H. Foster

 

 

Title:  Treasurer

 

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BANK OF AMERICA, N.A., as Administrative Agent

 

 

 

By:

/s/ DeWayne D. Rosse

 

 

 

 

Name:

DeWayne D. Rosse

 

 

 

 

Title:

Agency Management Officer

 

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

 

 

 

By:

/s/ Margaret Niekrash

 

 

 

 

Name:

Margaret Niekrash

 

 

 

 

Title:

Vice President

 

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JPMORGAN CHASE BANK, N.A., as a Lender and L/C Issuer

 

 

 

By:

/s/ Paul V. Phelan

 

 

 

 

Name:

Paul V. Phelan

 

 

 

 

Title:

Senior Vice President

 

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WELLS FARGO BANK, N.A., as a Lender

 

 

 

By:

/s/ Daniel Grondin

 

 

 

 

Name:

Daniel Grondin

 

 

 

 

Title:

Senior Vice President

 

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SOCIETE GENERALE, as a Lender

 

 

 

 

 

By:

/s/ Barbara Paulsen

 

 

 

 

Name:

Barbara Paulsen

 

 

 

 

Title:

Managing Director

 

 

 

 

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

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STANDARD CHARTERED BANK, as a Lender

 

 

 

By:

/s/ Johanna Minaya

 

 

 

 

Name:

Johanna Minaya

 

 

 

 

Title:

Associate Director

 

 

 

 

 

 

 

By:

/s/ Robert K. Reddington

 

 

 

 

Name:

Robert K. Reddington

 

 

 

 

Title:

Credit Documentation Manager

 

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RBS CITIZENS, NATIONAL ASSOCIATION, as a Lender

 

 

 

By:

/s/ Donald Wright

 

 

 

 

Name:

Donald Wright

 

 

 

 

Title:

Senior Vice President

 

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BNP PARIBAS, as a Lender

 

 

 

 

 

By:

/s/ Matthew L. Rosetti

 

 

 

 

Name:

Matthew L. Rosetti

 

 

 

 

Title:

Director

 

 

 

 

 

 

 

By:

/s/ A-C Mathiot

 

 

 

 

Name:

A-C Mathiot

 

 

 

 

Title:

Managing Director

 

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COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND” NEW
YORK BRANCH, as a Lender

 

 

 

By:

/s/ Brett Delfino

 

 

 

 

Name:

Brett Delfino

 

 

 

 

Title:

Executive Director

 

 

 

 

 

 

 

By:

/s/ Eva Rushkevich

 

 

 

 

Name:

Eva Rushkevich

 

 

 

 

Title:

Executive Director

 

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SOVEREIGN BANK, as a Lender

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Lender

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

 

 

 

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

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KEYBANK NATIONAL ASSOCIATION, as a Lender

 

 

 

By:

/s/ Keven D. Smith

 

 

 

 

Name:

Keven D. Smith

 

 

 

 

Title:

Senior Vice President

 

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TORONTO DOMINION (NEW YORK) LLC, as a Lender

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

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RB INTERNATIONAL FINANCE (USA) LLC, as a Lender

 

 

 

By:

/s/ Astrid Wilke

 

 

 

 

Name:

Astrid Wilke

 

 

 

 

Title:

Vice President

 

 

 

 

 

 

 

By:

/s/ Joyce Marie Gapay

 

 

 

 

Name:

Joyce Marie Gapay

 

 

 

 

Title:

Vice President

 

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ROYAL BANK OF CANADA, as a Lender

 

 

 

By:

/s/ Kristan Spivey

 

 

 

 

Name:

Kristan Spivey

 

 

 

 

Title:

Authorized Signatory

 

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RAYMOND JAMES BANK, FSB, as a Lender

 

 

 

By:

/s/ Michael Pelletier

 

 

 

 

Name:

Michael Pelletier

 

 

 

 

Title:

Vice President

 

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BARCLAYS BANK PLC, as a Lender

 

 

 

By:

/s/ Sreedhar R. Kona

 

 

 

 

Name:

Sreedhar R. Kona

 

 

 

 

Title:

Assistant Vice President

 

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WEBSTER BANK NATIONAL ASSOCIATION, as a Lender

 

 

 

By:

/s/ Carol Carver

 

 

 

 

Name:

Carol Carver

 

 

 

 

Title:

Vice President

 

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NATIXIS, NEW YORK BRANCH, as a Lender

 

 

 

By:

/s/ David Pershad

 

 

 

 

Name:

David Pershad

 

 

 

 

Title:

Managing Director

 

 

 

 

 

 

 

By:

/s/ Severine Pardo

 

 

 

 

Name:

Severine Pardo

 

 

 

 

Title:

Director

 

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DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK FRANKFURT AM MAIN, as a Lender

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

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BRANCH BANKING & TRUST COMPANY, as a Lender

 

 

 

By:

/s/ Max N. Greer III

 

 

 

 

Name:

Max N. Greer III

 

 

 

 

Title:

Vice President

 

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SUMITOMO MITSUI BANKING CORPORATION, as a Lender

 

 

 

By:

/s/ Shuji Yabe

 

 

 

 

Name:

Shuji Yabe

 

 

 

 

Title:

General Manager

 

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DEUTSCHE BANK, NEW YORK BRANCH, as a Lender

 

 

 

By:

/s/ Juan J. Mejia

 

 

 

 

Name:

Juan J. Mejia

 

 

 

 

Title:

Director

 

 

 

 

 

 

 

By:

/s/ Chris Chapman

 

 

 

 

Name:

Chris Chapman

 

 

 

 

Title:

Director

 

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TD BANK, N.A., as a Lender

 

 

 

By:

/s/ David Perlman

 

 

 

 

Name:

David Perlman

 

 

 

 

Title:

Senior Vice President

 

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PEOPLE’S UNITED BANK, as a Lender

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

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FLAGSTAR BANK, FSB, as a Lender

 

 

 

By:

/s/ Joseph T. O’Leary, Jr.

 

 

 

 

Name:

Joseph T. O’Leary, Jr.

 

 

 

 

Title:

Senior Vice President

 

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THE HUNTINGTON NATIONAL BANK, as a Lender

 

 

 

By:

/s/ Jared Shaner

 

 

 

 

Name:

Jared Shaner

 

 

 

 

Title:

Commercial Portfolio Manager

 

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BLUE HILLS BANK, as a Lender

 

 

 

By:

/s/ Kelley Keefe

 

 

 

 

Name:

Kelley Keefe

 

 

 

 

Title:

Vice President

 

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

 

 

 

By:

/s/ Andrew Oram

 

 

 

 

Name:

Andrew Oram

 

 

 

 

Title:

Managing Director

 

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FIRST NIAGARA BANK, N.A. as a Lender

 

 

 

By:

 

 

 

 

 

Name:

 

 

 

 

 

Title:

 

 

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RATIFICATION OF GUARANTY

 

Each of the undersigned guarantors (each a “Guarantor”) hereby acknowledges and
consents to the foregoing Fifth Amendment as of September 7, 2012, and agrees
that each of (a) the Amended and Restated Guaranty dated as of May 14, 2010 (as
amended and in effect from time to time, the “Original Guaranty”) from each of
Global Partners LP and Global GP LLC and (b) the Guaranty dated as of March 1,
2012 (as amended and in effect from time to time, the “Alliance Guaranty”) from
each of Alliance Retail LLC and Bursaw Oil LLC remains in full force and effect,
and each of the Guarantors confirms and ratifies all of its obligations
thereunder and under each of the other Loan Documents to which such Guarantor is
a party. Notwithstanding anything to the contrary contained herein, the parties
thereto hereby acknowledge, agree and confirm that as of the date hereof, each
of the Original Guaranty and the Alliance Guaranty remains in full force and
effect.

 

 

GLOBAL PARTNERS LP

 

By: Global GP LLC, its general partner

 

 

 

 

 

By:

/s/ Thomas J. Hollister

 

 

Title:

Chief Operating Officer and Chief Financial Officer

 

 

 

GLOBAL GP LLC

 

 

 

 

 

By:

/s/ Thomas J. Hollister

 

 

Title:

Chief Operating Officer and Chief Financial Officer

 

 

 

ALLIANCE RETAIL LLC

 

 

 

 

 

By:

/s/ Daphne H. Foster

 

 

Title:

Treasurer

 

 

 

BURSAW OIL LLC

 

 

 

 

 

By:

/s/ Daphne H. Foster

 

 

Title:

Treasurer

 

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