Exhibit 10.2

 

THIRD AMENDMENT TO CREDIT AGREEMENT

(Commitment Increase Pursuant to Section 2.13 of Credit Agreement)

 

THIS THIRD AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is effective as of
the 13th day of September 2005 (the “Amendment Effective Date”).

 

RECITALS

 

WHEREAS, ONEOK, INC., an Oklahoma corporation (the “Borrower”), BANK OF AMERICA,
N.A., as Administrative Agent (the “Administrative Agent”) and as a Lender and
L/C Issuer, and the financial institutions therein named as Lenders are parties
to that certain Credit Agreement dated as of September 17, 2004, as amended by
the First Amendment dated as of May 4, 2005, and as amended by the Second
Amendment dated as of July 25, 2005 (the “Credit Agreement”);

 

WHEREAS, the Borrower has elected to increase the Commitments pursuant to
Section 2.13 of the Credit Agreement, and this Third Amendment is being executed
to document such increase;

 

NOW THEREFORE, in consideration of the mutual agreements, provisions and
covenants contained herein, the parties hereto agree as follows:

 

Paragraph 1. Increase in Commitments Pursuant to Section 2.13 of the Credit
Agreement.

 

(a) Effective as of the Amendment Effective Date, the aggregate amount of the
Commitments is increased to $1,200,000,000 and Schedule 2.01 of the Credit
Agreement (Commitments and Pro Rata Shares) is revised to read as set forth on
Schedule 2.01 attached hereto.

 

(b) To the extent that Section 2.13 of the Credit Agreement requires notice(s)
to Lenders that are different than those that have been given in connection with
this Amendment, the Lenders waive such requirements, and agree that the increase
in Commitments herein described is effective and the conditions of Section 2.13
of the Credit Agreement are deemed satisfied as of the Amendment Effective Date.

 

Paragraph 2. Amendment Effective Date. This Amendment shall be effective as of
the Amendment Effective Date, provided that the (a) the Administrative Agent
shall have received (i) counterparts of this Amendment, executed by the Borrower
and the Required Lenders, (ii) the corporate certificate with resolutions
attached required by Section 2.13(e)(i)(A) of the Credit Agreement and the legal
opinion required by Section 2.13(e)(ii) of the Credit Agreement, and (b) the
Borrower shall have paid all fees and expenses that are required to be paid as
of the Amendment Effective Date.

 

Paragraph 3. Acknowledgment and Ratification Representations and Warranties. The
Borrower acknowledges and agrees that the Credit Agreement shall remain in full
force and effect as amended hereby. Borrower represents and warrants to the
Lenders that as of the date of execution of this Amendment and as of the
Amendment Effective Date, before and after giving effect to the increase in
Commitments herein described:

 

(a) (i) the representations and warranties set forth in the Credit Agreement are
true and correct in all material respects as though made on the date hereof,
except to the extent that any of them speak to a different specific date, in
which case they are true and correct as of such earlier date, and for purposes
of this Amendment the representations and warranties contained in subsection
(a) and (b) of Section 5.05 shall be deemed to refer to the most recent
financial statements furnished by the Borrower pursuant to clauses (a) and
(b) of Section 6.01, and (ii) no Default or Event of Default exists;

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(b) the execution, delivery and performance by the Borrower of this Amendment
have been duly authorized by all necessary corporate action, and do not and will
not contravene the terms of any of the Borrower’s organizational documents or
any Requirement of Law or any indenture or loan or credit agreement or any other
material agreement or instrument to which the Borrower is a party or by which it
is bound or to which it or its properties are subject;

 

(c) no authorizations, approvals or consents of, and no filings or registrations
with, any Governmental Authority or any other person are necessary for the
execution, delivery or performance by the Borrower of this Amendment or for the
validity or enforceability thereof, other than routine informational filings
with the SEC and/or other Governmental Authorities; and

 

(d) this Amendment constitutes the legal, valid and binding obligations of the
Borrower, enforceable against the Borrower in accordance with its terms, except
as limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting the enforcement of creditors’ rights generally or
by equitable principles relating to enforceability, and by judicial discretion
regarding the enforcement of or any applicable laws affecting remedies (whether
considered in a court of law or a proceeding in equity).

 

Paragraph 4. Definitions Generally; Governing Law; Miscellaneous. Unless
otherwise defined in this Amendment, capitalized terms used herein shall have
the meaning set forth in the Credit Agreement. This Amendment shall be governed
by the internal laws of the State of New York. Unless stated otherwise, (a) the
singular number includes the plural and vice versa and words of any gender
include each other gender, in each case, as appropriate, (b) headings and
captions may not be construed in interpreting provisions, and (c) this Amendment
may be executed in any number of counterparts with the same effect as if all
signatories had signed the same document, and all of those counterparts must be
construed together to constitute the same document.

 

Paragraph 5. ENTIRE AGREEMENT. THIS AMENDMENT REPRESENTS THE FINAL AGREEMENT
BETWEEN THE PARTIES ABOUT THE SUBJECT MATTER OF THIS AMENDMENT AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES RELATING TO THIS SUBJECT MATTER.

 

Remainder of Page Intentionally Blank.

Signature Pages to Follow

 

2

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IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed
and delivered by their proper and duly authorized officers as of the day and
year first above written.

 

ONEOK, INC.

By:   /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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BANK OF AMERICA, N.A.,

as Administrative Agent

By:

  /s/    MICHELLE A. SCHOENFELD             Michelle A. Schoenfeld     Senior
Vice President

BANK OF AMERICA, N.A.,

as a Lender and L/C Issuer

By:   /s/    MICHELLE A. SCHOENFELD             Michelle A. Schoenfeld    
Senior Vice President

 

[Signature Page to Third Amendment to Credit Agreement]

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CITIBANK, N.A.,

as a Lender and L/C Issuer

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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ABN AMRO Bank N.V.,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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JPMORGAN CHASE BANK, N.A., as successor by

merger to BANK ONE, NA, as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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WACHOVIA BANK, NATIONAL ASSOCIATION,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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THE ROYAL BANK OF SCOTLAND plc,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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UBS LOAN FINANCE LLC,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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SUMITOMO MITSUI BANKING CORPORATION, as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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SUNTRUST BANK,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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BANK OF OKLAHOMA N.A.,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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WESTLB AG, NEW YORK BRANCH,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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UNION BANK OF CALIFORNIA, N.A.,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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KBC BANK N.V.,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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UMB BANK, N.A.,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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ARVEST BANK,

as a Lender

By:

  /s/ Name:     Title:    

 

[Signature Page to Third Amendment to Credit Agreement]

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SCHEDULE 2.01

 

Schedule 2.01

 

COMMITMENTS

AND PRO RATA SHARES

 

Lender

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

   Commitment

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

   Pro Rata Share

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Bank of America, N.A.

   $ 152,500,000    12.7083333 %

Citibank, N.A.

   $ 152,500,000    12.7083333 %

ABN AMRO Bank N.V.

   $ 115,000,000    9.5833333 %

JPMorgan Chase Bank, NA

   $ 115,000,000    9.5833333 %

The Royal Bank of Scotland plc

   $ 115,000,000    9.5833333 %

UBS Loan Finance LLC

   $ 115,000,000    9.5833333 %

Wachovia Bank, National Association

   $ 115,000,000    9.5833333 %

Sumitomo Mitsui Banking Corporation

   $ 65,000,000    5.4166667 %

SunTrust Bank

   $ 65,000,000    5.4166667 %

Bank of Oklahoma N.A.

   $ 50,000,000    4.1666667 %

WestLB AG, New York Branch

   $ 50,000,000    4.1666667 %

Union Bank of California, N.A.

   $ 30,000,000    2.5000000 %

KBC Bank N.V.

   $ 25,000,000    2.0833333 %

UMB Bank, N.A.

   $ 25,000,000    2.0833333 %

ARVEST Bank

   $ 10,000,000    0.8333333 %

Total

   $ 1,200,000,000.00    100.0000000 %