Exhibit 10.86

 

FIRST AMENDMENT AND WAIVER TO AMENDED AND RESTATED CREDIT

AGREEMENT

 

THIS FIRST AMENDMENT AND WAIVER, dated as of September 16, 2005 (the “Amendment
and Waiver”), to AMENDED AND RESTATED CREDIT AGREEMENT, dated as of April 1,
2005 (the “Credit Agreement”; capitalized terms used but not defined herein
shall have the meanings given them in the Credit Agreement) by and among CONSOL
Energy Inc. (the “Borrower”), certain subsidiaries of the Borrower listed on the
signature pages hereof (collectively the “Guarantors; the Borrower and the
Guarantors are collectively referred to as the “Loan Parties”), PNC Bank,
National Association and Citicorp North America, Inc., as co-administrative
agents, and PNC Bank, National Association, as paying agent (the “Paying
Agent”).

 

WITNESSETH

 

WHEREAS, in connection with the Permitted Gas Properties Transaction that closed
in August of 2005, it is anticipated that the stock of CNX Gas Corporation (a
portion of the stock of which is held by CONSOLIDATION COAL COMPANY, one of the
Loan Parties) will be registered with the Securities and Exchange Commission and
listed on the New York Stock Exchange;

 

WHEREAS, pursuant to Section 6.1.10.2 of the Credit Agreement, none of the Loan
Parties is permitted to hold or intend to hold margin stock in such amounts so
that more than 25% of the reasonable value of the assets of any Loan Party is
margin stock;

 

WHEREAS, on September 2, 2005 Consol Sales Company officially changed its name
to CONSOL Energy Sales Company (the “Loan Party Name Change”);

 

WHEREAS, pursuant to the terms of Section 8.2.14(a) of the Credit Agreement and
the terms of various of the Loan Documents, the Loan Parties are required to
provide to the Paying Agent and the Lenders, and as applicable, the Collateral
Trustee, a written notice detailing any name change by any Loan Party, at least
thirty (30) days before the effective date of any such change.

 

NOW, THEREFORE, the parties hereto, in consideration of the mutual covenants and
agreements herein contained and intending to be legally bound hereby, covenant
and agree as follows:

 

1. Recitals. The recitals set forth above are hereby incorporated herein by
reference.

 

2. Amendment to Credit Agreement. Section 6.1.10.2 [Margin Stock] of the Credit
Agreement is hereby amended and restated in its entirety as follows:

 

“None of the Loan Parties engages or intends to engage principally, or as one of
its important activities, in the business of extending credit for the purpose,
immediately, incidentally or ultimately, of purchasing or carrying margin stock
(within the meaning of Regulation U). No part of the proceeds of any Loan has

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been or will be used as a “Purpose Credit” (as defined in Regulation U) to
purchase or carry any margin stock or to extend credit to others for the purpose
of purchasing or carrying any margin stock or to refund Indebtedness originally
incurred for such purpose, or for any purpose which entails a violation of or
which is inconsistent with the provisions of the regulations of the Board of
Governors of the Federal Reserve System.”

 

3. Waiver. The Lenders hereby authorize the Paying Agent, on their behalf, to
waive, or cause to be waived, any and all violations of the Credit Agreement and
any other Loan Document arising from any failure of any Loan Party to provide at
least thirty (30) day’s written notice detailing the Loan Party Name Change and
the effective date of the Loan Party Name Change and to take any and all other
actions in furtherance thereof.

 

4. Condition Precedent. The effectiveness of Section 2 [Amendment of Credit
Agreement] hereof is expressly conditioned upon satisfaction of the conditions
set forth in items (a) and (b) below being satisfied to the satisfaction of the
Paying Agent, and the effectiveness of Section 3 [Waiver] hereof is expressly
conditioned upon satisfaction of the condition set forth in item (a) below being
satisfied to the satisfaction of the Paying Agent:

 

(a) The Paying Agent shall have received from the Borrower, each Loan Party, and
the Required Lenders an executed original of this Amendment and Waiver in form
and substance satisfactory to the Paying Agent.

 

(b) The Loan Parties shall have delivered a completed and fully executed Federal
Reserve Form U-1 [Statement of Purpose for an Extension of Credit Secured by
Margin Stock] confirming that the Loans will not be used, in whole or in part,
to purchase or carry margin stock

 

5. Incorporation into Agreements. The terms, provisions, representations,
warranties and covenants set forth herein shall be incorporated into the Credit
Agreement by this reference. All terms, provisions, representations, warranties
and covenants set forth herein shall be a part of the Credit Agreement as if
originally contained therein.

 

6. Full Force and Effect. Except as expressly modified by this Amendment, all of
the terms, conditions, representations, warranties and covenants contained in
the Credit Agreement shall continue in full force and effect, including without
limitation, all liens and security interests securing the Borrower’s obligations
under the Secured Debt.

 

7. Counterparts. This Amendment may be executed by different parties hereto in
any number of separate counterparts, each of which, when so executed and
delivered shall be an original and all such counterparts shall together
constitute one and the same instrument.

 

8. Severability. If any term of this Amendment or any application thereof shall
be held to be invalid, illegal or unenforceable, the validity of other terms of
this Amendment or any other application of such term shall in no way be affected
thereby.

 

9. Entire Agreement. This Amendment sets forth the entire agreement and
understanding of the parties with respect to the amendment to the Credit
Agreement

 

2

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contemplated hereby and supersedes all prior understandings and agreements,
whether written or oral, between the parties hereto relating to such amendments.
No representation, promise, inducement or statement of intention has been made
by any party that is not embodied in this Amendment, and no party shall be bound
by or liable for any alleged representation, promise, inducement or statement of
intention not set forth herein.

 

10. Governing Law. This Amendment shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the internal laws of
the State of Pennsylvania applicable to contracts made and to be performed in
said State.

 

[SIGNATURES APPEAR ON FOLLOWING PAGES]

 

3

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly
authorized, have executed this First Amendment and Waiver to Amended and
Restated Credit Agreement as of the day and year first above written with the
intention that it constitute a sealed instrument.

 

LOAN PARTIES:

CONSOL ENERGY INC., as Borrower

By:

 

/s/ William J. Lyons

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  (Seal)

Name:

  William J. Lyons    

Title:

  Executive Vice President and Chief         Financial Officer    

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

CENTRAL OHIO COAL COMPANY

CHURCH STREET HOLDINGS, INC.

CNX MARINE TERMINALS INC.

CONSOL FINANCIAL INC.

CONSOL OF CANADA INC.

CONSOL OF KENTUCKY INC.

CONSOL PENNSYLVANIA COAL COMPANY

CONSOLIDATION COAL COMPANY

EIGHTY-FOUR MINING COMPANY

HELVETIA COAL COMPANY

IC COAL, INC.

ISLAND CREEK COAL COMPANY

KEYSTONE COAL MINING CORPORATION

LAUREL RUN MINING COMPANY

LEATHERWOOD, INC.

McELROY COAL COMPANY

NEW CENTURY HOLDINGS, INC.

QUARTO MINING COMPANY

ROCHESTER & PITTSBURGH COAL COMPANY

SOUTHERN OHIO COAL COMPANY

TWIN RIVERS TOWING COMPANY

WINDSOR COAL COMPANY

WOLFPEN KNOB DEVELOPMENT COMPANY

 

By:

 

/s/ John M. Reilly

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  (Seal)    

John M. Reilly, Treasurer of each Guarantor

listed above on behalf of each such Guarantor

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

CNX LAND RESOURCES INC. MTB INC. RESERVE COAL PROPERTIES COMPANY

By:

 

/s/ William D. Stanhagen

--------------------------------------------------------------------------------

  (Seal)

Name:

  William D. Stanhagen        

Guarantor listed above on behalf of each

such Guarantor

 

CONSOL DOCKS INC.

By:

 

/s/ P. Jerome Richey

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  (Seal)

Name:

  P. Jerome Richey    

Title:

  Vice President

 

CONSOL ENERGY SALES COMPANY

By:

 

/s/ Robert F. Pusateri

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  (Seal)

Name:

  Robert F. Pusateri    

Title:

  Vice President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

amended and restated CREDIT AGREEMENT]

 

TERRA FIRMA COMPANY

By:

 

/s/ James A. Russell

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  (Seal)

Name:

  James A. Russell    

Title:

  President    

CONRHEIN COAL COMPANY

By:

 

CONSOLIDATION COAL COMPANY, a

general partner

By:

 

/s/ William D. Stanhagen

--------------------------------------------------------------------------------

  (Seal)

Name:

  William D. Stanhagen    

Title:

  Vice President    

CONSOL OF WV LLC

By:

 

/s/ Robert M. Vukas

--------------------------------------------------------------------------------

  (Seal)

Name:

  Robert M. Vukas    

Title:

  Manager    

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

ALLIED IRISH BANKS, p.l.c.

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

BABSON AND COMPANY

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

BANK OF AMERICA, N.A., successor by

merger to FLEET NATIONAL BANK,

individually and as Co-Syndication Agent

By:

 

/s/ Robert D. Valbona

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Name:

  Robert D. Valbona

Title:

  Managing Director

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

BANK OF MONTREAL

By:

 

/s/ R. Wright

--------------------------------------------------------------------------------

Name:

  R. Wright

Title:

  Vice-President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER: BAYERISCHE HYPO-UND VEREINSBANK AG, NEW YORK BRANCH

By:

 

/s/ William W. Hunter

--------------------------------------------------------------------------------

Name:

  William W. Hunter

Title:

  Director

By:

 

/s/ Annett Guderian

--------------------------------------------------------------------------------

Name:

  Annett Guderian

Title:

  Associate Director

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER: BAYERISCHE LANDESBANK

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

--------------------------------------------------------------------------------

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER: BNP PARIBAS

By:

 

/s/ J. Onischuk

--------------------------------------------------------------------------------

Name:

  J. Onischuk

Title:

  Director

By:

 

/s/ Greg Smothers

--------------------------------------------------------------------------------

Name:

  Greg Smothers

Title:

  Vice President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER: CALYON NEW YORK BRANCH

By:

 

/s/ Lee E. Greve

--------------------------------------------------------------------------------

Name:

  Lee E. Greve

Title:

  Managing Director

By:

 

/s/ Joseph A. Philbin

--------------------------------------------------------------------------------

Name:

  Joseph A. Philbin

Title:

  Director

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

CITICORP NORTH AMERICA, INC.,

individually and as Co-Administrative Agent

By:

 

/s/ Raymond G. Dunning

--------------------------------------------------------------------------------

Name:

  Raymond G. Dunning

Title:

  Managing Director

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

CREDIT INDUSTRIEL ET COMMERCIAL

By:

 

/s/ Brian O’Leary

--------------------------------------------------------------------------------

 

/s/ Sean Mounier

--------------------------------------------------------------------------------

Name:

  Brian O’Leary   Sean Mounier

Title:

  Vice President   First Vice President

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER: ERSTE BANK

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

--------------------------------------------------------------------------------

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

FIFTH THIRD BANK

By:

 

/s/ John Hayes

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Name:

  John Hayes

Title:

  Vice President

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

FIRST COMMONWEALTH BANK

By:

 

/s/ Paul J. Oris

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Name:

  Paul J. Oris

Title:

  Sr. Vice President

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

GENERAL ELECTRIC CAPITAL

CORPORATION

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

JPMORGAN CHASE BANK, N.A.

By:

 

/s/ Stacey K. Haimes

--------------------------------------------------------------------------------

Name:

  Stacey K. Haimes

Title:

  Vice President

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

KEYBANK NATIONAL ASSOCIATION

By:

 

/s/ Bryon A. Pike

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Name:

  Bryon A. Pike

Title:

  Sr. Vice President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

LaSALLE BANK NATIONAL ASSOCIATION

By:

 

/s/ Philip R. Medsger

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Name:

  Philip R. Medsger

Title:

  First Vice President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

MIZUHO CORPORATE BANK, LTD.

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

NATEXIS BANQUES POPULAIRES

By:

 

/s/ Timothy L. Polvado

--------------------------------------------------------------------------------

Name:

  Timothy L. Polvado

Title:

  Vice President and Group Manager

By:

 

/s/ Donovan C. Broussard

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Name:

  Donovan C. Broussard

Title:

  Vice President and Manager

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

NATIONAL CITY BANK OF

PENNSYLVANIA

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

NM ROTHSCHILD & SONS LIMITED

By:

 

/s/ Christopher Coleman

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Name:

  Christopher Coleman

Title:

  Managing Director

By:

 

/s/ Nicholas A. Wood

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Name:

  Nicholas A. Wood

Title:

  Assistant Director

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

NORINCHUKIN BANK

By:

 

 

--------------------------------------------------------------------------------

Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

PNC BANK, NATIONAL ASSOCIATION,

individually, as Co-Administrative Agent and as

Paying Agent

By:

 

/s/ Norm Harkleroad

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Name:

  Norm Harkleroad

Title:

  Vice President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

RAYMOND JAMES BANK, FSB

By:

 

/s/ Thomas F. Macina

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Name:

  Thomas F. Macina

Title:

  Sr. Vice President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

ROYAL BANK OF CANADA

By:

 

/s/ Dustin Craven

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Name:

  Dustin Craven

Title:

  Attorney-in-Fact

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER: SOVEREIGN BANK

By:

 

/s/ Robert O. Lanigan

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Name:

  Robert O. Lanigan

Title:

  Sr. Vice President

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

STATE BANK OF INDIA, LOS ANGELES

AGENCY

By:

 

 

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Name:

 

 

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Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

SUMITOMO MITSUI BANKING CORP.

By:

 

/s/ William M. Ginn

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Name:

  William M. Ginn

Title:

  General Manager

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER: THE BANK OF NOVA SCOTIA - NEW YORK

AGENCY, individually and as Co-Syndication

Agent

By:

 

/s/ Christopher Usas

--------------------------------------------------------------------------------

Name:

  Christopher Usas

Title:

  Director

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

THE ROYAL BANK OF SCOTLAND PLC

By:

 

 

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Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

UFJ BANK LIMITED, NEW YORK BRANCH

By:

 

 

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Name:

 

 

--------------------------------------------------------------------------------

Title:

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

UNION BANK OF CALIFORNIA, N.A.,

individually and as Co-Syndication Agent

By:

 

/s/ Bryan Read

--------------------------------------------------------------------------------

Name:

  Bryan Read

Title:

  Vice President

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

U.S. BANK NATIONAL ASSOCIATION

By:

 

/s/ David J. Dannemiller

--------------------------------------------------------------------------------

Name:

  David J. Dannemiller

Title:

  Vice President

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

WACHOVIA BANK, NATIONAL

ASSOCIATION

By:

 

/s/ J. Andrew Philips

--------------------------------------------------------------------------------

Name:

  J. Andrew Philips

Title:

  Vice President

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT AND WAIVER TO

AMENDED AND RESTATED CREDIT AGREEMENT]

 

LENDER:

WELLS FARGO BANK, N.A.

By:

 

/s/ Tim Green

--------------------------------------------------------------------------------

Name:

  Tim Green

Title:

  Portfolio Manager

 

 

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WAIVER

 

This Waiver (“Waiver”) is hereby given as of this 16th day of September, 2005 by
PNC BANK, NATIONAL ASSOCIATION, as paying agent (the “Paying Agent”) for the
LENDERS PARTY TO THE AMENDED AND RESTATED CREDIT AGREEMENT, DATED AS OF APRIL 1,
2005, by and among CONSOL Energy Inc., the Guarantors from time to time party
thereto, the Lenders from time to time party thereto, PNC Bank, National
Association and Citicorp North American, Inc., as Co-Administrative Agents, and
PNC Bank, National Association, as Paying Agent (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”).
Capitalized terms used but not defined herein shall have the meanings given to
such terms in the Credit Agreement.

 

RECITALS:

 

WHEREAS, on September 2, 2005, Consol Sales Company officially changed its name
to CONSOL Energy Sales Company (the “Loan Party Name Change”);

 

WHEREAS, pursuant to the terms of Section 8.2.14(a) of the Credit Agreement and
the terms of various other Loan Documents, the Loan Parties are required to
provide to the Paying Agent, the Lenders and Collateral Trustees, as applicable,
a written notice detailing any name change by any Loan Party at least thirty
(30) days before the effective date of any such change;

 

WHEREAS, Borrower has requested that (i) the Paying Agent and the Lenders waive
such notice requirement as to the Loan Party Name Change; and (ii) the Paying
Agent instruct the Collateral Trustees to waive such notice requirement as to
the Loan Party Name Change pursuant to the Instruction Letter attached hereto as
Annex A.

 

NOW, THEREFORE, the Paying Agent, on behalf of the Lenders, hereby covenants and
agrees, intending to be legally bound, as follows:

 

1. Subject to the terms set forth herein and based upon the above recitals, the
Paying Agent, on behalf of the Lenders, hereby waives any violation of the
Credit Agreement arising from any failure of any Loan Party to provide at least
thirty (30) days written notice detailing the Loan Party Name Change and the
effective date of the Loan Party Name Change.

 

2. This Waiver shall be governed by and construed in accordance with the laws of
the Commonwealth of Pennsylvania.

 

3. This Waiver shall be binding upon and shall inure to the benefit of the Loan
Parties, the Lenders and the Paying Agent and their respective successors and
assigns.

 

4. The execution and delivery of this Waiver shall not be construed to establish
a course of conduct or imply that any other, future or further waivers, consents
or forbearance shall be considered, provided or agreed to.

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[SIGNATURE PAGE - WAIVER]

 

IN WITNESS WHEREOF, the Paying Agent, on behalf of the Required Lenders, has
caused this Waiver to be duly executed, to be effective as of the date first
above written.

 

PNC BANK, NATIONAL ASSOCIATION, as Paying Agent

By:

 

/s/ Norman W. Harkleroad

--------------------------------------------------------------------------------

Name:

  Norman W. Harkleroad

Title:

  Vice President

 

 

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WAIVER

 

This Waiver (“Waiver”) is hereby given as of this 16th day of September, 2005 by
WILMINGTON TRUST COMPANY, a Delaware banking corporation, not in its individual
capacity but solely as corporate trustee (the “Corporate Trustee”), and DAVID A.
VANASKEY, an individual residing in the State of Delaware, not in his individual
capacity but solely as individual trustee (the “Individual Trustee”, and
together with the Corporate Trustee, the “Collateral Trustees”) under the
Collateral Trust Agreement, dated as of June 30, 2004, as amended (as amended,
restated, supplemented or otherwise modified from time to time, the “Collateral
Trust Agreement”), made by and among CONSOL Energy Inc., a Delaware corporation
(the “Borrower”), certain subsidiaries of the Borrower, Corporate Trustee and
Individual Trustee, as trustees for the Secured Parties. Capitalized terms used
but not defined herein shall have the meanings given to such terms in the
Collateral Trust Agreement.

 

RECITALS:

 

WHEREAS, on September 2, 2005 Consol Sales Company officially changed its name
to CONSOL Energy Sales Company (the “Loan Party Name Change”);

 

WHEREAS, pursuant to various terms of the (a) Security Agreement, dated as of
June 30, 2004 (the “Security Agreement”), among Corporate Trustee, the Borrower
and certain subsidiaries of the Borrower listed on the signature pages thereof
(together with the Borrower, collectively the “Loan Parties”); (b) Pledge
Agreement, dated as of June 30, 2004 (the “Pledge Agreement”), among the
Corporate Trustee, the Borrower and the other Loan Parties; and (c) Patent,
Trademark and Copyright Security Agreement, dated as of June 30, 2004 (the “IP
Security Agreement”, together with the Security Agreement and the Pledge
Agreement, the “Agreements”), among the Corporate Trustee, the Borrower and the
other Loan Parties, the Loan Parties are required to provide to the Corporate
Trustee a written notice detailing any name change by any Loan Party at least
thirty (30) days before the effective date of any such change;

 

WHEREAS, Borrower has requested, and PNC Bank, National Association, as Credit
Facility Agent under the Collateral Trust Agreement, has instructed, that the
Collateral Trustees waive such notice requirement as to the Loan Party Name
Change.

 

NOW, THEREFORE, each of the Collateral Trustees hereby covenants and agrees,
intending to be legally bound, as follows:

 

1. Subject to the terms set forth herein and based upon the above recitals, the
Collateral Trustees hereby waive any violation of the Agreements arising from
any failure of any Loan Party to provide at least thirty (30) days written
notice detailing the Loan Party Name Change and the effective date of the Loan
Party Name Change.

 

2. This Waiver shall be governed by and construed in accordance with the laws of
the Commonwealth of Pennsylvania.

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3. This Waiver shall be binding upon and shall inure to the benefit of the Loan
Parties, the Collateral Trustees and the Secured Parties and their respective
successors and assigns.

 

4. The execution and delivery of this Waiver shall not be construed to establish
a course of conduct or imply that any other future or further waivers, consents
or forbearance shall be considered, provided or agreed to.

 

5. Except as expressly described herein, this Waiver shall not constitute a
modification, alteration, release or waiver of any of the terms, conditions or
covenants of the Agreements or any other Loan Documents, all of which remain in
full force and effect.

 

[SIGNATURE PAGE TO FOLLOW]

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[SIGNATURE PAGE - WAIVER]

 

IN WITNESS WHEREOF, the Collateral Trustees have caused this Waiver to be duly
executed, to be effective as of the date first above written.

 

Corporate Trustee:   

WILMINGTON TRUST COMPANY, not in its

individual capacity, but solely as Corporate Trustee

     By:   

/s/ James A. Hanley

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     Name:    James A. Hanley      Title:    Sr. Financial Services Officer
Individual Trustee:   

/s/ David A. Vanaskey

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DAVID A. VANASKEY, not in his individual

capacity, but solely as Individual Trustee