Exhibit 10.2

AMENDMENT NO. 5

Dated as of November 7, 2005

to

5-YEAR CREDIT AGREEMENT

Dated as of December 17, 2004

THIS AMENDMENT NO. 5 (this "Amendment") is made as of November 7, 2005 by and
among Inergy, L.P. (the "Borrower"), the financial institutions listed on the
signature pages hereof (the "Lenders") and JPMorgan Chase Bank, N.A., as
Administrative Agent (the "Administrative Agent"), under that certain 5-Year
Credit Agreement dated as of December 17, 2004 by and among the Borrower, the
Lenders, the Co-Syndication Agents party thereto, the Co-Documentation Agents
party thereto and the Administrative Agent (as amended, the "Credit Agreement").
Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings given to them in the Credit Agreement.

WHEREAS, the Borrower has requested certain modifications be made to the Credit
Agreement;

WHEREAS, the Borrower, the Lenders party hereto and the Administrative Agent
have agreed to amend the Credit Agreement on the terms and conditions set forth
herein;

NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Lenders party hereto and the Administrative Agent have agreed to the following
amendment to the Credit Agreement.

Amendments to Credit Agreement

. Effective as of the date first written above (the "Effective Date") but
subject to the satisfaction of the conditions precedent set forth in Section 2
below, the Credit Agreement is hereby amended as follows:

The definitions of Applicable Rate and Maturity Date are hereby amended and
restated to read as follows:

"Applicable Rate" means, for any day, with respect to any ABR Loan or Eurodollar
Revolving Loan, or with respect to the commitment fees payable hereunder, as the
case may be, the applicable rate per annum set forth below under the caption
"ABR Spread", "Eurodollar Spread" or "Commitment Fee", as the case may be, based
upon the Total Leverage Ratio as reflected in the then most recently delivered
Financials:

Pricing Level:

Total Leverage

Ratio:

Commitment Fee:

ABR
Spread:

Eurodollar Spread:

Level I

<

3.0x

0.3000%

0.000%

1.250%

Level II

>3.0x but <3.5x

0.300%

0.000%

1.500%

Level III

>3.5x but <4.0x

0.375%

0.250%

1.750%

Level IV

>4.0x but <4.25x

0.375%

0.500%

2.000%

Level V

>4.25x

0.500%

0.750%

2.250%

         

For purposes of the foregoing,

(i) if at any time the Borrower fails to deliver the Financials required under
Section 5.01(a) or 5.01(b) on or before the date such Financials are due,
Pricing Level V shall be deemed applicable for the period commencing five (5)
Business Days after such required date of delivery and ending on the date which
is five (5) Business Days after such Financials are actually delivered, after
which the Pricing Level shall be determined in accordance with the table above
as applicable;

(ii) adjustments, if any, to the Pricing Level then in effect shall be effective
five (5) Business Days after the Administrative Agent has received the
applicable Financials (it being understood and agreed that each change in
Pricing Level shall apply during the period commencing on the effective date of
such change and ending on the date immediately preceding the effective date of
the next such change); and

(iii) each determination of the Applicable Rate made by the Administrative Agent
in accordance with the foregoing shall, if reasonably determined, be conclusive
and binding on the Borrower and each Lender.

"Maturity Date" means November 10, 2010.

Section 2.06(b) is hereby amended to delete the reference to "$30,000,000"
appearing therein and to substitute "$75,000,000" in lieu thereof.

Section 2.11(b)(ii) is hereby amended to delete the reference to "5,000,000"
appearing therein and to substitute "$10,000,000" in lieu thereof.

The second clause (a)(v) of Section 5.08 is hereby amended to be renumbered as
clause (vi) and to delete the reference to "$25,000,000" appearing therein and
to substitute "$75,000,000" in lieu thereof.

Section 6.12(a) of the Credit Agreement is hereby amended and restated to read
as follows:

(a) Maximum Total Leverage Ratio. The Borrower will not permit the Total
Leverage Ratio, determined as of the end of each of its fiscal quarters for the
period of 4 consecutive fiscal quarters ending with the end of such fiscal
quarter, to be greater than the Required Ratio. As used herein, "Required Ratio"
means 5.25 to 1.0 for any period of two consecutive fiscal quarters immediately
following an Acquisition with a purchase price in excess of $100,000,000 and
4.75 to 1.0 at all other times.

Section 6.12(b) of the Credit Agreement is hereby amended and restated to read
as follows:

"(b) Intentionally Omitted."

Section 9.02(b) of the Credit Agreement is amended by adding the following
sentence at the end thereof:

"Notwithstanding the foregoing (including without limitation clause (v) of this
Section 9.02(b)), this Agreement and any other Credit Document may be amended
(or amended and restated) with the written consent of the Required Lenders,
Lenders providing one or more additional credit facilities, the Administrative
Agent, the Borrower and each other relevant Credit Party (x) to add one or more
additional credit facilities to this Agreement and to permit the extensions of
credit from time to time outstanding thereunder and the accrued interest and
fees in respect thereof (collectively, the "Incremental Credits") to share
ratably in the benefits of this Agreement and the other Credit Documents with
the Revolving Loans and other extensions of credit hereunder and the accrued
interest and fees in respect thereof, (y) to include reasonably appropriately
the Lenders holding such credit facilities in any determination of the Required
Lenders and (z) to make such other technical amendments as are reasonably deemed
appropriate by the Administrative Agent and the Borrower in connection with the
foregoing."

Schedule 2.01 to the Credit Agreement is amended and restated in its entirety to
read as set forth on Annex I hereto.

Conditions of Effectiveness

. The effectiveness of this Amendment is subject to the conditions precedent
that the Administrative Agent shall have received (i) counterparts of this
Amendment duly executed by the Borrower, each Lender and the Administrative
Agent, (ii) for the account of (A) each existing Lender which is increasing its
Commitment and each new Lender (if any) entering into the Credit Agreement, in
each case pursuant to an Assignment and Assumption in connection with this
Amendment, an amendment fee in an amount equal to 0.25% of the amount of the
increase in each such existing Lender's Commitment and, in the case of each such
new Lender, 0.25% of the amount of such new Lender's Commitment and (B) each
existing Lender, an amendment fee in an amount equal to 0.125% of such Lender's
Commitment prior to giving effect to any increase thereto in connection with
this Amendment, (iii) such other instruments and documents as are reasonably
requested by the Administrative Agent, (iv) an opinion letter of Stinson
Morrison Hecker LLP, counsel to the Borrower, addressed to the Administrative
Agent and the Lenders, and in form and substance reasonably acceptable to the
Administrative Agent, addressing matters relating to this Amendment, (v) a
certificate of the secretary or assistant secretary of the Borrower, in form and
substance reasonably acceptable to the Administrative Agent, certifying the
currency and authenticity of the resolutions of the board of directors of the
Borrower authorizing its execution, performance and delivery of this Amendment
and of the Credit Agreement as amended hereby; and (vi) payment and
reimbursement of the Administrative Agent's fees and reasonable out-of-pocket
expenses (including reasonable legal fees and expenses) in connection with this
Amendment.

Representations and Warranties and Covenants of the Borrower

. The Borrower hereby represents and warrants as follows:

This Amendment and the Credit Agreement as amended hereby constitute legal,
valid and binding obligations of the Borrower and are enforceable against the
Borrower in accordance with their terms.

As of the date hereof and giving effect to the terms of this Amendment, (i)
there exists no Default or Event of Default and (ii) the representations and
warranties contained in Article III of the Credit Agreement, as amended hereby,
are true and correct, except for representations and warranties made with
reference solely to an earlier date.

Reference to and Effect on the Credit Agreement

.

Upon the effectiveness hereof, each reference to the Credit Agreement in the
Credit Agreement or any other Credit Document shall mean and be a reference to
the Credit Agreement as amended hereby.

Except as specifically amended above, the Credit Agreement and all other
documents, instruments and agreements executed and/or delivered in connection
therewith shall remain in full force and effect and are hereby ratified and
confirmed.

Except as provided herein, the execution, delivery and effectiveness of this
Amendment shall not operate as a waiver of any right, power or remedy of the
Administrative Agent or the Lenders, nor constitute a waiver of any provision of
the Credit Agreement or any other documents, instruments and agreements executed
and/or delivered in connection therewith.

Governing Law

. This Amendment shall be construed in accordance with and governed by the law
of the State of New York, but giving effect to federal laws applicable to
national banks.

Headings

. Section headings in this Amendment are included herein for convenience of
reference only and shall not constitute a part of this Amendment for any other
purpose.

Counterparts

. This Amendment may be executed by one or more of the parties hereto on any
number of separate counterparts, and all of said counterparts taken together
shall be deemed to constitute one and the same instrument.

[Signature Pages Follow]

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

INERGY, L.P., as the Borrower

By: Inergy GP, LLC, its managing general partner

   

By

 

Name:

Title:

 

JPMORGAN CHASE BANK, N.A., as a Lender and as Administrative Agent

   

By:_________________________________

Name:

Title:

 

LEHMAN COMMERCIAL PAPER INC., as a Lender

   

By:_________________________________

Name:

Title:

 

WACHOVIA BANK, NATIONAL ASSOCIATION, as a Lender

   

By:_________________________________

Name:

Title:

 

FLEET NATIONAL BANK, as a Lender

   

By:_________________________________

Name:

Title:

 

BANK OF OKLAHOMA, NATIONAL ASSOCIATION, as a Lender

   

By:_________________________________

Name:

Title:

 

 

LASALLE BANK NATIONAL ASSOCIATION, as a Lender

   

By:_________________________________

Name:

Title:

 

ALLIED IRISH BANK, P.L.C., as a Lender

   

By:_________________________________

Name:

Title:

 

By:_________________________________

Name:

Title:

 

RAYMOND JAMES BANK, FSB, as a Lender

   

By:_________________________________

Name:

Title:

 

SOCIETE GENERALE, as a Lender

   

By:_________________________________

Name:

Title:

 

 

UFJ BANK LIMITED, as a Lender

   

By:_________________________________

Name:

Title:

 

WELLS FARGO BANK, NA, as a Lender

   

By:_________________________________

Name:

Title:

 

U.S. BANK, N.A., as a Lender

   

By:_________________________________

Name:

Title:

 

BANK MIDWEST, N.A., as a Lender

   

By:_________________________________

Name:

Title:

 

UNION BANK OF CALIFORNIA, N.A., as a Lender

   

By:_________________________________

Name:

Title:

 

FIRST NATIONAL BANK OF KANSAS, as a Lender

   

By:_________________________________

Name:

Title:

CONSENT AND REAFFIRMATION

Each of the undersigned hereby acknowledges receipt of a copy of the foregoing
Amendment No. 5 to the 5-Year Credit Agreement dated as of December 17, 2004 (as
the same may be amended, restated, supplemented or otherwise modified from time
to time, the "Credit Agreement") by and among Inergy, L.P. (the "Borrower"), the
financial institutions from time to time party thereto (the "Lenders") and
JPMorgan Chase Bank, N.A., in its individual capacity as a Lender and in its
capacity as contractual representative (the "Administrative Agent"), which
Amendment No. 5 is dated as of November 7, 2005 (the "Amendment"). Capitalized
terms used in this Consent and Reaffirmation and not defined herein shall have
the meanings given to them in the Credit Agreement. Without in any way
establishing a course of dealing by the Administrative Agent or any Lender, each
of the undersigned consents to the Amendment and reaffirms the terms and
conditions of the Subsidiary Guaranty, the Pledge and Security Agreement and any
other Credit Document executed by it and acknowledges and agrees that such
agreement and each and every such Credit Document executed by the undersigned in
connection with the Credit Agreement remains in full force and effect and is
hereby reaffirmed, ratified and confirmed. All references to the Credit
Agreement contained in the above-referenced documents shall be a reference to
the Credit Agreement as so modified by the Amendment and as the same may from
time to time hereafter be amended, modified or restated.

Dated: November 7, 2005

INERGY PROPANE, LLC

By: _________________________

Name:
Title:

L & L TRANSPORTATION

By: _________________________

Name:
Title:

INERGY TRANSPORTATION, LLC

By: _________________________

Name:
Title:

INERGY SALES & SERVICE, INC.

By: _________________________

Name:
Title:

INERGY FINANCE CORP.

By: _________________________

Name:
Title:

INERGY ACQUISITION COMPANY, LLC

By: _________________________

Name:
Title:

STELLAR PROPANE SERVICE, LLC

By: _________________________

Name:
Title:

 

INERGY STORAGE, INC.

By: _________________________

Name:
Title:

INERGY STAGECOACH II, LLC

By: _________________________

Name:
Title:

CENTRAL NEW YORK OIL AND GAS COMPANY, L.L.C.

By: _________________________

Name:
Title:

INERGY GAS MARKETING, LLC

By: _________________________

Name:
Title:

SCHEDULE 2.01

COMMITMENTS

LENDER

 

ACQUISITION COMMITMENT

 

WORKING CAPITAL COMMITMENT

 

AGGREGATE
COMMITMENT

       

JPMORGAN CHASE BANK, N.A.

$34,588,235.29

$7,411,764.71

$42,000,000.00

       

LEHMAN COMMERCIAL PAPER INC.

$20,588,235.29

$4,411,764.71

$25,000,000.00

       

WACHOVIA BANK, NATIONAL ASSOCIATION

$34,588,235.29

$7,411,764.71

$42,000,000.00

       

BANK OF AMERICA, N.A.

$34,588,235.29

$7,411,764.71

$42,000,000.00

       

BANK OF OKLAHOMA, NATIONAL ASSOCIATION

$31,294,117.65

$6,705,882.35

$38,000,000.00

       

LASALLE BANK NATIONAL ASSOCIATION

$23,470,588.24

$5,029,411.76

$28,500,000.00

       

ALLIED IRISH BANK, P.L.C.

$16,470,588.24

$3,529,411.76

$20,000,000.00

       

FIRST NATIONAL BANK OF KANSAS

$16,470,588.24

$3,529,411.76

$20,000,000.00

       

RAYMOND JAMES BANK, FSB

$8,647,058.82

$1,852,941.18

$10,500,000.00

       

SOCIETE GENERALE

$25,529,411.76

$5,470,588.24

$31,000,000.00

       

UFJ BANK LIMITED

$24,705,882.35

$5,294,117.65

$30,000,000.00

       

WELLS FARGO BANK, NA

$24,705,882.35

$5,294,117.65

$30,000,000.00

       

U.S. BANK, N.A.

$16,470,588.24

$3,529,411.76

$20,000,000.00

       

BANK MIDWEST, N.A.

$21,411,764.71

$4,588,235.29

$26,000,000.00

       

UNION BANK OF CALIFORNIA, N.A.

$16,470,588.24

$3,529,411.76

$20,000,000.00

       

TOTAL

$350,000,000.00

$75,000,000.00

$425,000.000