Exhibit 10.1
SECOND AMENDMENT TO CREDIT AGREEMENT
     THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of
the 20th day of September, 2006, by and among COPANO ENERGY, L.L.C.
(“Borrower”), BANK OF AMERICA, N.A., as Administrative Agent, and the Lenders
party hereto.
W I T N E S S E T H:
     WHEREAS, Borrower, Administrative Agent and Lenders named therein entered
into that certain Credit Agreement dated as of August 1, 2005, as amended by
First Amendment to Credit Agreement dated January 26, 2006 (the “Original
Agreement”) for the purposes and consideration therein expressed; and
     WHEREAS, Borrower, Administrative Agent and Lenders desire to amend the
Original Agreement for the purposes described herein;
     NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements contained herein and in the Original Agreement, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto do hereby agree as follows:
ARTICLE I. — Definitions and References
     § 1.1. Terms Defined in the Original Agreement. Unless the context
otherwise requires or unless otherwise expressly defined herein, the terms
defined in the Original Agreement shall have the same meanings whenever used in
this Amendment.
     § 1.2. Other Defined Terms. Unless the context otherwise requires, the
following terms when used in this Amendment shall have the meanings assigned to
them in this § 1.2.
          “Amendment” means this Second Amendment to Credit Agreement.
          “Credit Agreement” means the Original Agreement as amended hereby.
ARTICLE II. — Amendments
     § 2.1. Increase in Commitments. The reference to “$50,000,000” set forth in
the first sentence of Section 2.14(a) of the Original Agreement is hereby
amended in its entirety to refer instead to “$100,000,000”.
     § 2.2. Indebtedness. Section 7.03(b) of the Original Agreement is hereby
amended in its entirety to read as follows:
     (b) (i) Unsecured Indebtedness under that certain Indenture dated as of
February 7, 2006 among Borrower, Copano Energy Finance Corporation, the
guarantors named therein, and U.S. Bank National Association, as Trustee in an
aggregate principal amount not to exceed $225,000,000 at any time outstanding,
and (ii) additional unsecured privately placed or public term Indebtedness with
a maturity not earlier than 91 days after the Maturity Date and not materially
more restrictive than the Loan Documents taken as a

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whole (or in either case any unsecured refinancing or replacement thereof with a
maturity not earlier than 91 days after the Maturity Date and on terms and
conditions not materially more restrictive than the Loan Documents taken as a
whole); provided, with respect to any such additional Indebtedness under clause
(ii) above: (x) both immediately prior to and immediately following the issuance
of such additional Indebtedness, no Default or Event of Default shall have
occurred and be continuing, and (y) as of the date of such issuance of
additional Indebtedness, the financial covenants contained in Section 7.21 are
satisfied on a pro forma basis after giving effect to the issuance of such
Indebtedness, calculated in a manner satisfactory to the Administrative Agent in
its reasonable discretion.
     § 2.3. Subsidiaries; Equity Interests. Section 5.13 of the Original
Agreement is hereby amended in its entirety to read as follows:
     5.13. Subsidiaries; Equity Interests. The Borrower has no Subsidiaries
other than those specifically disclosed in Part (a) of Schedule 5.13, as
supplemented from time to time by the Borrower by written notice to the
Administrative Agent, and all of the outstanding Equity Interests in such
Subsidiaries have been issued and are owned by a Loan Party in the amounts
specified in such Part (a) of Schedule 5.13 free and clear of all Liens other
than Liens permitted under Section 7.01. The Borrower has no equity investments
in any other corporation or entity other than those specifically disclosed in
Part (b) of Schedule 5.13, as supplemented from time to time by the Borrower by
written notice to the Administrative Agent. Schedule 5.13, as supplemented from
time to time by the Borrower by written notice to the Administrative Agent
identifies each Subsidiary as either Restricted or Unrestricted, its state of
organization, and its organizational identification number, and each Restricted
Subsidiary on such schedule is a wholly-owned Subsidiary.
ARTICLE III. — Conditions of Effectiveness
     § 3.1. Effective Date. This Amendment shall become effective as of the date
first written above, when and only when
     (i) Administrative Agent shall have received, at Administrative Agent’s
office a counterpart of this Amendment executed and delivered by Borrower and
Required Lenders;
     (ii) Administrative Agent shall have additionally received all of the
following documents, each document (unless otherwise indicated) being dated the
date of receipt thereof by Administrative Agent, duly authorized, executed and
delivered, and in form and substance satisfactory to Administrative Agent:
Supporting Documents. Such supporting documents as Administrative Agent may
reasonably request.

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ARTICLE IV. — Representations and Warranties
     § 4.1. Representations and Warranties of Borrower. In order to induce
Administrative Agent and Lenders to enter into this Amendment, Borrower
represents and warrants to Administrative Agent and each Lender that:
     (a) The representations and warranties of the Borrower and each other Loan
Party contained in Article V of the Credit Agreement or any other Loan Document
are true and correct in all material respects on and as of the date hereof,
except to the extent that such representations and warranties specifically refer
to an earlier date, in which case they are true and correct as of such earlier
date, and except that for purposes of this Section 4.1(a), the representations
and warranties contained in subsections (a) and (b) of Section 5.05 of the
Credit Agreement are deemed to refer to the most recent statements furnished
pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit
Agreement.
     (b) No Default exists or will result herefrom.
     (c) No Material Adverse Effect has occurred, and no event or circumstance
has occurred that could reasonably be expected to cause a Material Adverse
Effect, relating to the consolidated financial condition or business of the Loan
Parties since the date of the date of the most recent financial statements
delivered pursuant to Section 4.01(a)(viii) or Section 6.01 of the Credit
Agreement, as applicable.
     (d) Each Loan Party is Solvent.
     (e) The execution, delivery and performance by each Loan Party of this
Amendment has been duly authorized by all necessary corporate or other
organizational action, and do not and will not (a) contravene the terms of any
of such Person’s Organization Documents; (b) conflict with or result in any
breach or contravention of, or the creation of any Lien under, or require any
payment to be made under (i) any Contractual Obligation to which such Person is
a party or affecting such Person or the properties of such Person or any of its
Restricted Subsidiaries or (ii) any order, injunction, writ or decree of any
Governmental Authority or any arbitral award to which such Person or its
property is subject; or (c) violate any Law.
     (f) No approval, consent, exemption, authorization, or other action by, or
notice to, or filing with, any Governmental Authority or any other Person is
necessary or required in connection with the execution, delivery or performance
by, or enforcement against, any Loan Party of this Amendment.
     (g) This Amendment has been duly executed and delivered by each Loan Party
that is party hereto. This Amendment constitutes a legal, valid and binding
obligation of such Loan Party, enforceable against each Loan Party that is party
hereto in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other Laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at Law.

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ARTICLE V. — Miscellaneous
     § 5.1. Ratification of Agreements. The Original Agreement, as hereby
amended, is hereby ratified and confirmed in all respects. The Loan Documents,
as they may be amended or affected by this Amendment, are hereby ratified and
confirmed in all respects by Borrower and each Loan Party that is party hereto.
Any reference to the Credit Agreement in any Loan Document shall be deemed to
refer to this Amendment also. 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 Administrative Agent or any Lender under the
Credit Agreement or any other Loan Document nor constitute a waiver of any
provision of the Credit Agreement or any other Loan Document.
     § 5.2. Ratification of Security Documents. Each Loan Party, Administrative
Agent, and Lenders each acknowledge and agree that any and all indebtedness,
liabilities or obligations, arising under or in connection with the Loans,
Letters of Credit or the Notes, are Obligations and are secured indebtedness
under, are guarantied by, and are secured by, each and every Security Document.
Each Loan Party hereby re-pledges, re-grants and re-assigns a security interest
in and lien on every asset of such Loan Party described as Collateral in any
Security Document.
     § 5.3. Survival of Agreements. All representations, warranties, covenants
and agreements of Loan Parties shall survive the execution and delivery of this
Amendment and the performance hereof, including without limitation the making or
granting of each Loan, and shall further survive until all of the Obligations
under the Credit Agreement are paid in full. All statements and agreements
contained in any certificate or instrument delivered by any Loan Party hereunder
or under the Credit Agreement to Administrative Agent or any Lender shall be
deemed to constitute representations and warranties by, or agreements and
covenants of, Borrower under this Amendment and under the Credit Agreement.
     § 5.4. Loan Documents. This Amendment is a Loan Document, and all
provisions in the Credit Agreement pertaining to Loan Documents apply hereto.
     § 5.5. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
     § 5.6. Counterparts. This Amendment may be separately executed in
counterparts and by the different parties hereto in separate counterparts, each
of which when so executed shall be deemed to constitute one and the same
Amendment. Delivery of an executed signature page by facsimile transmission
shall be effective as delivery of a manual executed counterpart.

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     IN WITNESS WHEREOF, this Amendment is executed as of the date first above
written.

                  COPANO ENERGY, L.L.C.,
as Borrower    
 
           
 
  By:   /s/ Matthew J. Assiff    
 
           
 
  Name:   Matthew J. Assiff    
 
  Title:   Senior Vice President and    
 
      Chief Financial Officer    

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                  BANK OF AMERICA, N.A.,         as Administrative Agent    
 
           
 
  By:   /s/ Todd MacNeill    
 
           
 
  Name:   Todd MacNeill    
 
  Title:   Vice President    
 
      Agency Management Officer III    

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                  BANK OF AMERICA, N.A.,         as a Lender and L/C Issuer    
 
           
 
  By:   /s/ Gregory B. Hanson    
 
           
 
  Name:   Gregory B. Hanson    
 
  Title:   Principal    

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                  COMERICA BANK,         as a Lender and Co-Syndication Agent  
 
 
           
 
  By:   /s/ Huma Vadgama    
 
           
 
  Name:   Huma Vadgama    
 
  Title:   Vice President    

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                  U.S. BANK NATIONAL ASSOCIATION,         as a Lender and
Co-Syndication Agent    
 
           
 
  By:   /s/ Justin M. Alexander    
 
           
 
  Name:   Justin M. Alexander    
 
  Title:   Vice President    

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                  BANK OF SCOTLAND,         as a Lender and Co-Documentation
Agent    
 
           
 
  By:   /s/ Karen Weich    
 
           
 
  Name:   Karen Weich    
 
  Title:   Assistant Vice President    

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                  FORTIS CAPITAL CORP.,         as a Lender and Co-Documentation
Agent    
 
           
 
  By:   /s/ Casey Lowary    
 
           
 
  Name:   Casey Lowary    
 
  Title:   Senior Vice President    
 
           
 
  By:   /s/ Darrell Holley    
 
           
 
  Name:   Darrell Holley    
 
  Title:   Managing Director    

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                  ROYAL BANK OF CANADA, as a Lender    
 
           
 
  By:   /s/ Jason S. York    
 
           
 
  Name:   Jason S. York    
 
  Title:   Authorized Signatory    

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                  HARRIS NESBITT FINANCING, INC.,         as a Lender    
 
           
 
  By:   /s/ Cahal Carmody    
 
           
 
  Name:   Cahal Carmody    
 
  Title:   Vice President    

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                  AMEGY BANK NATIONAL ASSOCIATION,         as a Lender    
 
           
 
  By:   /s/ Laif Afseth    
 
           
 
  Name:   Laif Afseth    
 
  Title:   Senior Vice President    

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                  COMPASS BANK, as a Lender    
 
           
 
  By:   /s/ Dorothy Marchand    
 
           
 
  Name:   Dorothy Marchand    
 
  Title:   Senior Vice President    

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                  GUARANTY BANK, as a Lender    
 
           
 
  By:   /s/ Jim R. Hamilton    
 
           
 
  Name:   Jim R. Hamilton    
 
  Title:   Senior Vice President    

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                  BNP PARIBAS, as a Lender    
 
           
 
  By:   /s/ Greg Smothers    
 
           
 
  Name:   Greg Smothers    
 
  Title:   Vice President    
 
           
 
  By:   /s/ Polly Schott    
 
           
 
  Name:   Polly Schott    
 
  Title:   Vice President    

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                  DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender    
 
           
 
  By:   /s/ Saad Iqbal    
 
           
 
  Name:   Saad Iqbal    
 
  Title:   Vice President    
 
           
 
  By:   /s/ Carin Keegan    
 
           
 
  Name:   Carin Keegan    
 
  Title:   Vice President    

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                  KEYBANK, NATIONAL ASSOCIATION,         as a Lender    
 
           
 
  By:   /s/ Thomas Rajan    
 
           
 
  Name:   Thomas Rajan    
 
  Title:   Senior Vice President    

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                  SUNTRUST BANK, as a Lender    
 
           
 
  By:   /s/ Carmen Malizia    
 
           
 
  Name:   Carmen Malizia    
 
  Title:   Vice President    

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                  BANK OF TEXAS, N.A., as a Lender    
 
           
 
  By:   /s/ Mari Salazar    
 
           
 
  Name:   Mari Salazar    
 
  Title:   Assistant Vice President    

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                  NATEXIS BANQUES POPULAIRES,         as a Lender    
 
           
 
  By:   /s/ Louis P. Laville, III    
 
           
 
  Name:   Louis P. Laville, III    
 
  Title:   Vice President / Group Manager    
 
           
 
  By:   /s/ Daniel Payer    
 
           
 
  Name:   Daniel Payer    
 
  Title:   Vice President    

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                  STERLING BANK, as a Lender    
 
           
 
  By:   /s/ Ryan K. Michael    
 
           
 
  Name:   Ryan K. Michael    
 
  Title:   Assistant Vice President    

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                  WELLS FARGO BANK, N.A., as a Lender    
 
           
 
  By:   /s/ Andrew J. Watson    
 
           
 
  Name:   Andrew J. Watson    
 
  Title:   Vice President    

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                  GOLDMAN SACHS CREDIT PARTNERS LP, as a Lender    
 
           
 
  By:   /s/ Philip F. Green    
 
           
 
  Name:   Phillip F. Green    
 
  Title:   Authorized Signatory    

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CONSENT OF GUARANTORS
Each of the undersigned Guarantors hereby consents to the provisions of this
Amendment and the transactions contemplated herein and therein and hereby
(i) ratifies, confirms and approves the Credit Agreement, the Amendment, the
Guaranty and the other Loan Documents and, in particular, any provisions thereof
which relate to such Guarantor, (ii) acknowledges and agrees that any and all
indebtedness, liabilities or obligations arising under or in connection with the
Credit Agreement and the Notes are Obligations and are guarantied indebtedness
under the Guaranty and are secured indebtedness under, and are secured by each
and every Security Document, (iii) ratifies and confirms the Guaranty and each
Security Document to which it is a party, (iv) expressly acknowledges and agrees
that such Guarantor guarantees all Obligations arising under or in connection
with the Credit Agreement and the Notes pursuant to the terms of the Guaranty,
and hereby re-pledges, re-grants and re-assigns a security interest in and lien
on every asset of such Guarantor described as Collateral in any Security
Document to secure all such Obligations, and (v) agrees that its obligations and
covenants under the Guaranty and each Security Document to which it is a party
are unimpaired hereby and shall remain in full force and effect.

              ScissorTail Energy, LLC     Copano Energy/Rocky Mountains and
Mid-Continent, L.L.C.     Copano Processing GP, L.L.C.     Copano NGL Services
GP, L.L.C.     Copano Field Services GP L.L.C.     Copano Pipelines GP, L.L.C.  
  Copano Pipelines, (Texas) GP, L.L.C.     Copano Energy Services GP, L.L.C.    
Copano Energy Services (Texas) GP, L.L.C.     Copano Field Services/Central Gulf
Coast GP, L.L.C.     Copano/Webb-Duval Pipeline GP, L.L.C.     CPNO Services GP,
L.L.C.     Copano Energy Finance Corporation

         
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            Copano Processing, L.P.
 
  By:   Copano Processing GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            Copano NGL Services, L.P.
 
  By:   Copano NGL Services GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer

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              Copano Houston Central, L.L.C.     CHC LP Holdings, L.L.C.    
Copano Pipelines Group, L.L.C.     Copano General Partners, Inc.     CPG LP
Holdings, L.L.C.     CWDPL LP Holdings, L.L.C.     CPNO Services LP Holdings,
L.L.C.
 
       
 
  By:   /s/ Susan T. Dubb
 
       
 
      Susan T. Dubb
 
      Vice President and Assistant Secretary
 
            Copano Field Services/Agua Dulce, L.P.     Copano Field
Services/Copano Bay, L.P.     Copano Field Services/Karnes, L.P.     Copano
Field Services/Live Oak, L.P.     Copano Field Services/South Texas, L.P.    
Copano Field Services/Upper Gulf Coast, L.P.
 
  By:   Copano Field Services GP L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            Copano Pipelines/Hebbronville, L.P.     Copano Pipelines/South
Texas, L.P.     Copano Pipelines/Upper Gulf Coast, L.P.
 
  By:   Copano Pipelines GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            Copano Pipelines/Texas Gulf Coast, L.P.
 
  By:   Copano Pipelines, (Texas) GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            Copano Field Services/Central Gulf Coast, L.P.
 
  By:   Copano Field Services/Central Gulf Coast GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer

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              Copano Energy Services/Upper Gulf Coast, L.P.
 
  By:   Copano Energy Services GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            Copano Energy Services/Texas Gulf Coast, L.P.
 
  By:   Copano Energy Services (Texas) GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            Copano/Webb Duval Pipeline, L.P.
 
  By:   Copano/Webb-Duval Pipeline GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer
 
            CPNO Services, L.P.     Copano Risk Management, L.P.
 
  By:   CPNO Services GP, L.L.C., General Partner
 
       
 
  By:   /s/ Matthew J. Assiff
 
       
 
      Matthew J. Assiff
 
      Senior Vice President and Chief Financial Officer

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