Exhibit 10.3
EXECUTION COPY
     AMENDMENT NO. 1 dated as of February 28, 2007 (this “Amendment”), to the
Credit Agreement dated as of June 22, 2006 (the “Credit Agreement”), among ALON
USA ENERGY, INC., a Delaware corporation (the “Company”), the lenders party
thereto (the “Existing Lenders”) and CREDIT SUISSE, a bank organized under the
laws of Switzerland, acting through its Cayman Islands branch, as administrative
agent and collateral agent (the “Administrative Agent”).
          A. Pursuant to the Credit Agreement, the Existing Lenders have
extended credit to the Borrower.
          B. The Company has informed the Administrative Agent that Paramount
Petroleum Corporation, a Delaware corporation and a wholly owned subsidiary of
the Company (“Paramount”), intends to amend and restate its Amended and Restated
Credit Agreement dated as of July 26, 2005, among Paramount, the lenders party
thereto, Bank of America, N.A., as administrative agent, and certain other
parties thereto (as heretofore amended, the “BofA Credit Agreement”). The
amendment and restatement of the BofA Credit Agreement is being referred to
herein as the “BofA Facility Refinancing”, and the resulting amended and
restated BofA Credit Agreement is being referred to herein as the “New BofA
Credit Agreement”.
          C. The Company has further informed the Administrative Agent that, in
connection with the BofA Facility Refinancing, (a) the Specified Subsidiaries
(as defined below) will be released from their obligations (including their
obligations as guarantors, grantors and pledgors) under or with respect to the
Amended Revolving Credit Agreement dated as of June 22, 2006, among the Company,
Alon USA, LP, certain other subsidiaries of the Company, the lenders party
thereto, Israel Discount Bank of New York, as administrative agent, and certain
other parties thereto (as heretofore amended, the “IDB Credit Agreement”), and
(b) the Specified Subsidiaries will become guarantors, grantors and pledgors
with respect to obligations under the New BofA Credit Agreement. The
transactions set forth in this paragraph are being referred to herein as the
“Specified Subsidiaries Transactions”.
          D. The Company has further informed the Administrative Agent that
lenders to be party to the New BofA Credit Agreement have agreed to amend the
Bank of America Intercreditor Agreement to eliminate provisions set forth
therein whereby certain liens securing obligations under the Credit Agreement
cease to be first priority liens, and become second priority liens, in respect
of certain liens securing obligations under the BofA Credit Agreement upon the
Administrative Agent, or Lenders, recovering $60,000,000 or more in respect of
such liens (the elimination of such provisions being referred to herein as the
“Priority Cap Release”).
          E. In connection with the foregoing, the Company has requested certain
amendments to the Credit Agreement.

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          F. The Existing Lenders party hereto are willing to consent to such
requested amendments upon the terms and conditions set forth herein.
          G. Capitalized terms used but not defined herein have the meanings
assigned thereto in the Credit Agreement.
          Accordingly, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the parties hereto agree as follows:
          SECTION 1. Amendments to the Credit Agreement. (a) Section 1.01 of the
Credit Agreement is hereby amended as follows:
     (i) The definition of the term “Paramount Guarantee and Collateral
Condition” is hereby deleted in its entirety.
     (ii) The following definitions are hereby amended and restated in their
entirety as follows:
     ”Bank of America Agreement” shall mean the Second Amended and Restated
Credit Agreement dated as of February 28, 2007, by and among Paramount, certain
of the other obligors hereunder, Bank of America, N.A., as agent, and the
lenders party thereto.
     ”Bank of America Intercreditor Agreement” shall mean the Intercreditor
Agreement dated as of August 4, 2006, between Bank of America, N.A. and Credit
Suisse, acting through its Cayman Islands Branch, as the same may be amended,
restated or otherwise modified in accordance with Section 2 of the First
Amendment.
     (iii) The following definition is hereby added in appropriate alphabetical
order:
     ”First Amendment” shall mean Amendment No. 1 to this Agreement, dated as of
February 28, 2007, among the Borrower, the Agent and the Lenders party thereto.
     ”Specified Subsidiaries” shall mean Alon Asphalt Bakersfield, Inc., a
Delaware corporation, Edgington Oil Company, LLC, a Delaware limited liability
company, Paramount of Oregon, LLC, a Delaware limited liability company, and
Paramount of Washington, LLC, a Delaware limited liability company.
          (b) Section 6.01(b)(2) of the Credit Agreement is hereby amended to
replace the reference therein to “$455,000,000” with a reference to
“$540,000,000”.

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          (c) Section 6.10 of the Credit Agreement is hereby amended and
restated in its entirety as follows:
     “SECTION 6.10. Impairment of Security Interest. The Borrower shall not, and
the Borrower shall not permit any of its Restricted Subsidiaries to, take or
knowingly or negligently omit to take, any action which action or omission might
or would have the result of materially impairing the security interest with
respect to the Collateral for the benefit of the Administrative Agent and the
Lenders.”
          (d) Section 6.11 of the Credit Agreement is hereby amended to add at
the end thereof the following:
“The Borrower shall not permit (a) any of the Specified Subsidiaries, to be
obligated, directly or indirectly, under the IDB Credit Agreement or any other
Loan Document (as defined in the IDB Credit Agreement), whether as a guarantor,
grantor, pledgor or otherwise, or (b) any of the assets or properties of the
Specified Subsidiaries to be subject to Liens securing any obligations under the
IDB Credit Agreement or any such other Loan Document.”
          (e) Sections 6.01(e), 6.13 and 9.19 of the Credit Agreement are each
hereby amended and restated in its entirety to read “[Reserved.]”.
          (f) Section 9.10 of the Credit Agreement is hereby amended to add at
the end thereof the following:
“Notwithstanding anything to the contrary set forth in the Guarantee and
Collateral Agreement, Section 7.19 of the Guarantee and Collateral Agreement
shall have no force and effect and shall be deemed to have been deleted from the
Guarantee and Collateral Agreement.”
          SECTION 2. Bank of America Intercreditor Agreement. The Administrative
Agent is hereby authorized and instructed to enter into such amendments of the
Bank of America Intercreditor Agreement as the Administrative Agent determines
are appropriate in connection with the Priority Cap Release, the Specified
Subsidiaries Transactions and the BofA Facility Refinancing, and each Lender
will be bound by the Bank of America Intercreditor Agreement as so amended. The
Bank of America Intercreditor Agreement as so amended (which amendment may be
documented by means of a restatement thereof) is referred to herein as the
“Amended Bank of America Intercreditor Agreement”.
          SECTION 3. Representations and Warranties. To induce the other parties
hereto to enter into this Amendment, the Company represents and warrants to the
Administrative Agent and the Lenders that, as of the Amendment Effective Date:

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     (a) The execution, delivery and performance by the Company of this
Amendment has been duly authorized by all requisite corporate actions; that this
Amendment has been duly executed and delivered by the Company; and that this
Amendment and the Credit Agreement, as amended by this Amendment, constitute
legal, valid and binding obligations of the Company, enforceable against it in
accordance with its terms (subject to the applicable bankruptcy, reorganization,
insolvency, moratorium or similar laws affecting creditors’ rights generally and
subject, as to enforceability, to equitable principles of general application
(regardless of whether enforcement is sought in a proceeding in equity or at
law)).
     (b) The representations and warranties set forth in Article III of the
Credit Agreement and in each Loan Document are true and correct in all material
respects on and as of the Amendment Effective Date with the same effect as
though made on and as of such date, except to the extent such representations
and warranties expressly relates to an earlier date.
     (c) The Company and each other Loan Party are in compliance in all material
respects with all the terms and provisions set forth in the Credit Agreement and
the other Loan Documents on its part to be observed or performed on or prior to
the Amendment Effective Date, and on and as of the Amendment Effective Date,
after giving effect to the terms of this Amendment, no Event of Default or
Default has occurred and is continuing.
     (d) None of the Specified Subsidiaries are obligated, directly or
indirectly, under the IDB Credit Agreement or any other Loan Document (as
defined in the IDB Credit Agreement), whether as guarantor, grantor, pledgor or
otherwise, and, subject only to the filing of the UCC termination statements
referred to in Section 4(d) below, none of the assets or properties of the
Specified Subsidiaries are subject to any Liens securing any obligations under
the IDB Credit Agreement or any such other Loan Document.
          SECTION 4. Conditions Precedent; Effectiveness. The effectiveness of
this Amendment is subject to the satisfaction of the following conditions
precedent:
     (a) The Administrative Agent shall have executed a counterpart of this
Amendment and shall have received counterparts of this Amendment executed on
behalf of the Company and the Existing Lenders representing the Required
Lenders.
     (b) The Administrative Agent shall have received a certificate, dated the
Amendment Effective Date and signed by a Responsible Officer of the Company,
confirming, as of the Amendment Effective Date, the accuracy of the
representations set forth in Section 3 hereof.
     (c) The Administrative Agent shall have received a copy of the Amended Bank
of America Intercreditor Agreement, executed by each of the parties thereto,

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and copies, certified by a Financial Officer, of the New Bank of America Credit
Agreement and all guarantee and security documentation related to the New Bank
of America Credit Agreement, all as in effect on the Amendment Effective Date.
     (d) The Administrative Agent shall have received evidence reasonably
satisfactory to it that all Liens on the assets and properties of the Specified
Subsidiaries securing obligations under the IDB Credit Agreement or any other
Loan Document (as defined in the IDB Credit Agreement) have been released, and
copies of properly completed UCC terminations statements terminating each of the
UCC financing statements previously filed by the WC Collateral Agent (as defined
in the IDB Credit Agreement) with respect to assets and properties of the
Specified Subsidiaries.
     (e) The Administrative Agent shall have received evidence reasonably
satisfactory to it that the Specified Subsidiaries have ceased to be party to
the IDB Credit Agreement, the other Loan Documents (as defined in the IDB Credit
Agreement) and the IDB Intercreditor Agreement.
          This Amendment shall become effective as of the first date (the
“Amendment Effective Date”) on which each of the foregoing conditions precedent
shall have been satisfied.
          SECTION 5. Effect of Amendment. (a) Except as expressly set forth
herein, this Amendment shall not by implication or otherwise limit, impair,
constitute a waiver of, or otherwise affect the rights and remedies of the
Lenders, the Administrative Agent or the Collateral Agent under the Credit
Agreement or any other Loan Document, and shall not alter, modify, amend or in
any way affect any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement or any other Loan Document, all of
which are ratified and affirmed in all respects and shall continue in full force
and effect. Nothing herein shall be deemed to entitle any Loan Party to a
consent to, or a waiver, amendment, modification or other change of, any of the
terms, conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Loan Document in similar or different circumstances.
          (a) On and after the Amendment Effective Date, each reference in the
Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words
of like import, and each reference to the Credit Agreement in any other Loan
Document shall be deemed to be a reference to the Credit Agreement as amended
hereby. This Amendment shall constitute a “Loan Document” for all purposes of
the Credit Agreement and the other Loan Documents.
          SECTION 6. Counterparts. This Amendment may be executed in
counterparts (and by different parties hereto on different counterparts), each
of which shall constitute an original but all of which when taken together shall
constitute a single contract, and shall become effective as provided in
Section 4 hereof. Delivery of an

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executed signature page to this Amendment by facsimile transmission shall be as
effective as delivery of a manually signed counterpart of this Amendment.
          SECTION 7. APPLICABLE LAW. THIS AMENDMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
          SECTION 8. Headings. Section headings used herein are for convenience
of reference only, are not part of this Amendment and are not to affect the
construction of, or to be taken into consideration in interpreting, this
Amendment.

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

                  ALON USA ENERGY, INC.,
 
           
 
  by   /s/ Harlin R. Dean    
 
           
 
      Name: Harlin R. Dean    
 
      Title: Vice President, Secretary and General Counsel    
 
                CREDIT SUISSE, Cayman Islands Branch, individually and as
Administrative Agent,
 
           
 
  by   /s/ James Moran    
 
           
 
      Name: James Moran    
 
      Title: Managing Director    

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SIGNATURE PAGE TO AMENDMENT NO. 1 TO
ALON USA ENERGY, INC. CREDIT AGREEMENT

                  Name of Existing Lender:
 
                LANDMARK III CDO LTD,     By Aladdin Capital Management, as
Manager,
 
           
 
  by   /s/ Stephen H. Hooker    
 
           
 
      Name: Stephen H. Hooker, CFA    
 
      Title: Director    
 
                LANDMARK VIII CDO LTD,     By Aladdin Capital Management, as
Manager,
 
           
 
  by   /s/ Stephen H. Hooker    
 
           
 
      Name: Stephen H. Hooker, CFA    
 
      Title: Director    
 
                LANDMARK IX CDO LTD,     By Aladdin Capital Management, as
Manager,
 
           
 
  by   /s/ Stephen H. Hooker    
 
           
 
      Name: Stephen H. Hooker, CFA    
 
      Title: Director    
 
                PACIFICA CDO VI, LTD,
 
           
 
  by   /s/ Olivier A. Tabouret    
 
           
 
      Name: Olivier A. Tabouret    
 
      Title: Sr. Vice President    

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                  FINCH FUNDING LLC,
 
           
 
  by   /s/ Christina L. Ramseur    
 
           
 
      Name: Christina L. Ramseur    
 
      Title: Assistant Vice President    
 
                OSPREY CDO 2006-1 LTD., as Lender,
BRIGHTWATER CAPITAL MANAGEMENT, as Collateral Manager,
 
           
 
  by   /s/ George Suspanic    
 
           
 
      Name: George Suspanic    
 
      Title: Managing Director    
 
           
 
  by   /s/ Thomas Irwin    
 
           
 
      Name: Thomas Irwin    
 
      Title: Executive Director    
 
                SIERRA CLO I,
 
           
 
  by   /s/ John M. Casparian    
 
           
 
      Name: John M. Casparian
Title: Senior Managing Director    
 
      Churchill Pacific, Manager    
 
                SIERRA CLO II,
 
           
 
  by   /s/ John M. Casparian    
 
           
 
      Name: John M. Casparian    
 
      Title: Senior Managing Director    
 
      Churchill Pacific, Manager    

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            SHASTA CLO I,
          by   /s/ John M. Casparian         Name:   John M. Casparian       
Title:   Senior Managing Director Churchill Pacific, Manager     

            WB LOAN FUNDING 4, LLC,
          by   /s/ Diana M. Himes         Name:   Diana M. Himes        Title:  
Associate     

            THE CIT GROUP/EQUIPMENT FINANCING, INC.,
          by   /s/ Patrick Flynn         Name:   Patrick Flynn        Title:  
Duly Authorized Signatory     

            EAGLE MASTER FUND LTD.,
By Citigroup Alternative Investments LLC,
as Investment Manager for and on behalf of Eagle
Master Fund Ltd.,
          by   /s/ Roger Yee         Name:   Roger Yee        Title:   Vice
President     

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            GRAND CENTRAL ASSET TRUST, EAP SERIES,
          by   /s/ Roy Hykal         Name:   Roy Hykal        Title:  
Attorney-in-fact     

            GRAND CENTRAL ASSET TRUST, ECL SERIES,
          by   /s/ Roy Hykal         Name:   Roy Hykal        Title:  
Attorney-in-fact     

            LMP CORPORATE LOAN FUND, INC.,
By Citigroup Alternative Investments LLC,
          by   /s/ Roger Yee         Name:   Roger Yee        Title:   Vice
President     

            SHINNECOCK CLO 2006-1, LTD.,
          by   /s/ David Spring         Name:   David Spring        Title:  
Director of Operations     

 

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            CIFC FUNDING 2006-I, LTD.,
CIFC FUNDING 2006-IB, LTD.,
CIFC FUNDING 2006-II, LTD.,
          by   /s/ Elizabeth Chow         Name:   Elizabeth Chow        Title:  
Head of Underwriting        EAGLE CREEK CLO, LTD.,
          by   /s/ Thomas N. Davis         Name:   Thomas N. Davis       
Title:   Authorized Signor        FALL CREEK CLO, LTD.,
          by   /s/ Thomas N. Davis         Name:   Thomas N. Davis       
Title:   Authorized Signor        DUNES FUNDING LLC,
          by   /s/ Christina L. Ramseur         Name:   Christina L. Ramseur   
    Title:   Assistant Vice President        NANTUCKET CLO I LTD.
By: Fortis Investment Management USA, Inc.,
as Attorney in Fact
          by   /s/ Jeffrey Megar         Name:   Jeffrey Megar        Title:  
Vice-President     

 

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            NANTUCKET CLO II LTD.
By: Fortis Investment Management USA, Inc.,
as Attorney in Fact
          by   /s/ Jeffrey Megar         Name:   Jeffrey Megar        Title:  
Vice-President        BRENTWOOD CLO LTD.,
By Highland Capital Management, L.P., as Collateral Manager,
By Strand Advisors, Inc., its General Partner,
          by   /s/ Brian Lohrding         Name:   Brian Lohrding        Title:  
Treasurer Strand Advisors, Inc., General Partner of Highland Capital Management,
L.P.     

 

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            EASTLAND CLO, LTD.,
By Highland Capital Management, L.P., as Collateral Manager,
By Strand Advisors, Inc., its General Partner,
          by   /s/ Brian Lohrding         Name:   Brian Lohrding        Title:  
Treasurer Strand Advisors, Inc., General Partner of Highland Capital Management,
L.P.        EMERALD ORCHARD LIMITED
          by   /s/ Neam Ahmed         Name:   Neam Ahmed        Title:  
Authorized Signatory        GRAND CENTRAL ASSET TRUST, HLD SERIES,
          by   /s/ Beata Konopko         Name:   Beata Konopko        Title:  
Attorney-in-Fact        GRAYSON CLO, LTD.,
By Highland Capital Management, L.P., as Collateral Manager,
By Strand Advisors, Inc., its General Partner,
          by   /s/ Brian Lohrding         Name:   Brian Lohrding        Title:  
Treasurer Strand Advisors, Inc., General Partner of Highland Capital Management
L.P.     

 

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            HARRISON CLO LTD.,
By Highland Capital Management, L.P., as Collateral
Manager,
By Strand Advisors, Inc., its General Partner,
          by   /s/ Brian Lohrding         Name:   Brian Lohrding        Title:  
Treasurer Strand Advisors, Inc., General Partner of Highland Capital Management
L.P.        HIGHLAND CREDIT OPPORTUNITIES CDO LTD.,
By Highland Capital Management, L.P., as Collateral Manager,
By Strand Advisors, Inc., its General Partner,
          by   /s/ Brian Lohrding         Name:   Brian Lohrding        Title:  
Treasurer Strand Advisors, Inc., General Partner of Highland Capital Management
L.P.        HIGHLAND CREDIT STRATEGIES FUND,
          by   /s/ M. Jason Blackburn         Name:   M. Jason Blackburn       
Title:   Treasurer     

 

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            HIGHLAND FLOATING RATE LLC,
           by   /s/ M. Jason Blackburn         Name:   M. Jason Blackburn       
Title:   Treasurer        HIGHLAND FLOATING RATE ADVANTAGE FUND,
           by   /s/ M. Jason Blackburn         Name:   M. Jason Blackburn       
Title:   Treasurer        RED RIVER CLO LTD.,
By Highland Capital Management, L.P., as Collateral Manager,
By Strand Advisors, Inc., its General Partner,
           by   /s/ Brian Lohrding         Name:   Brian Lohrding       
Title:   Treasurer
Strand Advisors, Inc.,
General Partner of Highland
Capital Management L.P.        ROCKWALL CDO II LTD.,
By Highland Capital Management, L.P., as Collateral Manager,
By Strand Advisors, Inc., its General Partner,
           by   /s/ Brian Lohrding         Name:   Brian Lohrding       
Title:   Treasurer
Strand Advisors, Inc.,
General Partner of Highland
Capital Management L.P.     

 

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            IKB CAPITAL CORPORATION,
           by   /s/ James Hua         Name:   James Hua        Title:   Vice
President        KKR FINANCIAL CLO 2005-1, LTD.,
           by   /s/ Michelle L. Keith         Name:   Michelle L. Keith       
Title:   Authorized Signatory        KKR FINANCIAL CLO 2005-2, LTD.,
           by   /s/ Michelle L. Keith         Name:   Michelle L. Keith       
Title:   Authorized Signatory        NORTHGATE B.V.,
           by   /s/ Roy Hykal         Name:   Roy Hykal        Title:  
Attorney-in-fact        GANNETT PEAK CLO I, LTD.,
By McDonnell Investment Management, LLC,
as Investment Manager,
           by   /s/ Kathleen A. Zarn         Name:   Kathleen A. Zarn       
Title:   Vice President     

 

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            METROPOLITAN LIFE INSURANCE COMPANY,
           by   /s/ Matthew J. McInerny         Name:   Matthew J. McInerny     
  Title:   Director        MORGAN STANLEY SENIOR FUNDING, INC.,
           by   /s/ Darragh Dempsey         Name:   Darragh Dempsey       
Title:   Vice President        NATIONWIDE LIFE INSURANCE COMPANY,
           by   /s/ Thomas M. Powers         Name:   Thomas M. Powers       
Title:   Vice President        RIVENDELL CBNA LOAN FUNDING LLC,
for itself or as agent for Rivendell CFPI Loan Funding LLC,
           by   /s/ Roy Hykal         Name:   Roy Hykal        Title:  
Attorney-in-fact     

 

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            NAVIGARE FUNDING I CLO, LTD.,
By Navigare Partners LLC,
its Collateral Manager
           by   /s/ James E. Kennedy         Name:   James E. Kennedy       
Title:   Managing Director        FAIRWAY LOAN FUNDING COMPANY,
By Pacific Investment Management Company LLC, as its Investment Advisor,
           by   /s/ Arthur Y. D. Ong         Name:   Arthur Y. D. Ong       
Title:   Senior Vice President        GLOBAL ENHANCED LOAN FUND S.A.,
By Pacific Investment Management Company LLC, as its Investment Advisor,
           by   /s/ Arthur Y. D. Ong         Name:   Arthur Y. D. Ong       
Title:   Senior Vice President        PIMCO FLOATING RATE INCOME FUND,
By Pacific Investment Management Company LLC, as its Investment Advisor, acting
through Investors Fiduciary Trust Company in the Nominee Name of IFTCO,
           by   /s/ Arthur Y. D. Ong         Name:   Arthur Y. D. Ong       
Title:   Senior Vice President     

 

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            PIMCO FLOATING RATE STRATEGY FUND,
By Pacific Investment Management Company LLC, as its Investment Advisor, acting
through Investors Fiduciary Trust Company in the Nominee Name of IFTCO,
           by   /s/ Arthur Y. D. Ong         Name:   Arthur Y. D. Ong       
Title:   Senior Vice President        ROSEDALE CLO, LTD.,
By Princeton Advisory Group, Inc., the Collateral Manager acting as
attorney-in-fact,
           by   /s/ Jennifer Wright         Name:   Jennifer Wright       
Title:   Vice President        APIDOS CDO III,
By its Investment Advisor,
Apidos Capital Management, LLC,
           by   /s/ John W. Stelwagon         Name:   John W. Stelwagon       
Title:   Managing Director        APIDOS CDO IV,
By its Investment Advisor,
Apidos Capital Management, LLC,
           by   /s/ John W. Stelwagon         Name:   John W. Stelwagon       
Title:   Managing Director     

 

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            APIDOS CDO V,
By its Investment Advisor,
Apidos Capital Management, LLC,
         by   /s/ John W. Stelwagon         Name:   John W. Stelwagon       
Title:   Managing Director        APIDOS CINCO CDO,
By its Investment Advisor,
Apidos Capital Management, LLC,
         by   /s/ John W. Stelwagon         Name:   John W. Stelwagon       
Title:   Managing Director        APIDOS QUATTRO,
By its Investment Advisor,
Apidos Capital Management, LLC,
         by   /s/ John W. Stelwagon         Name:   John W. Stelwagon       
Title:   Managing Director        MOUNTAIN VIEW CLO II, LTD.,
By Seix Advisors, a fixed income division of Trusco
Capital Management, Inc., as Collateral Manager,
         by   /s/ George Goudelias         Name:   George Goudelias       
Title:   PM, Seix Advisors     

 

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            MOUNTAIN VIEW CLO III, LTD.,
By Seix Advisors, a fixed income division of Trusco
Capital Management, Inc., as Ramp-Up Investment
Manager,
         by   /s/ George Goudelias         Name:   George Goudelias       
Title:   PM, Seix Advisors        MOUNTAIN VIEW CLO IV, LTD.,
By Seix Structured Products, LLC, as warehouse
manager,
         by   /s/ George Goudelias         Name:   George Goudelias       
Title:   VP, Seix Structured Products, LLC        NOB HILL CLO, LIMITED,
         by   /s/ Bradley Kane         Name:   Bradley Kane        Title:  
Portfolio Manager        CORNERSTONE CLO LTD.,
By Stone Tower Debt Advisors LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory     

 

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            RAMPART CLO I LTD.,
By Stone Tower Debt Advisors LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory        STONE TOWER CDO LTD.,
By Stone Tower Debt Advisors LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory        STONE TOWER CDO II LTD.,
By Stone Tower Debt Advisors LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory        STONE TOWER CLO IV LTD.,
By Stone Tower Debt Advisors LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory     

 

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            STONE TOWER CLO V LTD.,
By Stone Tower Debt Advisors LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory        STONE TOWER CLO VI LTD.,
By Stone Tower Debt Advisors LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory        STONE TOWER CREDIT FUNDING I LTD.,
By Stone Tower Fund Management LLC,
as its Collateral Manager,
         by   /s/ Michael W. Delpercio         Name:   Michael W. Delpercio     
  Title:   Authorized Signatory        ATLAS LOAN FUNDING 2, LLC,
By Atlas Capital Funding, Ltd.,
By Structured Asset Investors, LLC,
its Investment Manager,
         by   /s/ Diana M. Himes         Name:   Diana M. Himes        Title:  
Associate     

 

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            ATLAS LOAN FUNDING 5, LLC,
By Atlas Capital Funding, Ltd.,
By Structured Asset Investors, LLC,
its Investment Manager,
         by   /s/ Diana M. Himes         Name:   Diana M. Himes        Title:  
Associate        SILVERADO CLO 2006-II,
By Wells Capital Management,
         by   /s/ Gilbert L. Southwell III         Name:   Gilbert L. Southwell
III        Title:   Vice President        WELLS CAPITAL MGMT 16959700,
         by   /s/ Gilbert L. Southwell III         Name:   Gilbert L. Southwell
III        Title:   Vice President        WELLS CAPITAL MGMT 16959701,
         by   /s/ Gilbert L. Southwell III         Name:   Gilbert L. Southwell
III        Title:   Vice President     

 

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            WHITEHORSE II, LTD.,
By WhiteHorse Capital Partners,
as Collateral Manager,
         by   /s/ Ethan M. Underwood         Name:   Ethan M. Underwood, CFA   
    Title:   Portfolio Manager        WHITEHORSE IV, LTD.,
By WhiteHorse Capital Partners,
as Collateral Manager,
         by   /s/ Ethan M. Underwood         Name:   Ethan M. Underwood, CFA   
    Title:   Portfolio Manager