Exhibit 10.1

 

SECOND AMENDMENT

 

TO

 

AMENDED AND RESTATED CREDIT AGREEMENT

 

dated as of July 18, 2012

 

among

 

CABOT OIL & GAS CORPORATION,
as Borrower,

 

JPMORGAN CHASE BANK, N.A.,
as Administrative Agent,

 

BANK OF AMERICA, N.A.,
as Syndication Agent,

 

BANK OF MONTREAL,
as Co- Documentation Agent,

 

BBVA COMPASS,
as Co-Documentation Agent,

 

CANADIAN IMPERIAL BANK OF COMMERCE,
NEW YORK AGENCY,
as Co- Documentation Agent,

 

U.S. BANK NATIONAL ASSOCIATION,
as Co-Documentation Agent,

 

WELLS FARGO BANK, N.A.,
as Co- Documentation Agent,

 

and

 

The Lenders Party Thereto

 

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J.P. Morgan Securities LLC
Merrill Lynch Pierce, Fenner & Smith, Inc.

 

As Co-Lead Arrangers and Joint Bookrunners

 

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SECOND AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Second
Amendment”) dated as of July 18, 2012, among CABOT OIL & GAS CORPORATION, a
Delaware limited liability company, (the “Borrower”); certain of the lenders
party to the Credit Agreement referred to below (collectively, the “Majority
Lenders”); and JPMORGAN CHASE BANK, N.A., as administrative agent for the
Lenders (in such capacity, together with its successors in such capacity, the
“Administrative Agent”).

 

R E C I T A L S

 

A.            The Borrower, the Administrative Agent and the Majority Lenders
are parties to that certain Amended and Restated Credit Agreement dated as of
September 22, 2010 (as amended by that certain First Amendment to Amended and
Restated Credit Agreement dated as of May 4, 2012, the “Credit Agreement”),
pursuant to which the Lenders have made certain credit available to and on
behalf of the Borrower.

 

B.            The Borrower has requested and the Majority Lenders have agreed to
amend certain provisions of the Credit Agreement as set forth herein.

 

C.            Now, therefore, to induce the Administrative Agent and the Lenders
to enter into this Second Amendment and in consideration of the premises and the
mutual covenants herein contained, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

 

Section 1.               Defined Terms.  Each capitalized term used herein but
not otherwise defined herein has the meaning given such term in the Credit
Agreement, as amended by this Second Amendment. Unless otherwise indicated, all
section references in this Second Amendment refer to sections of the Credit
Agreement.

 

Section 2.               Amendments to Credit Agreement.

 

2.1           Amendments to Section 1.02.

 

(a)           Section 1.02 is hereby amended by deleting the defined term
“Agreement” in its entirety and replacing it with the following:

 

“‘Agreement’ means this Amended and Restated Credit Agreement, as amended by
that certain First Amendment dated as of May 4, 2012 and that certain Second
Amendment dated as of July 18, 2012, as the same may from time to time be
amended, modified, supplemented or restated.”

 

(b)           Section 1.02 is hereby amended by deleting the phrase “June 30 or”
in the second line of the defined term “Reserve Report”.

 

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2.2           Amendment to Section 8.11(a).  Section 8.11(a) is hereby amended
and restated in its entirety to read as follows:

 

“(a)         On or before March 15 of each year, commencing March 15, 2013, the
Borrower shall furnish to the Administrative Agent a Reserve Report evaluating
the Oil and Gas Properties of the Borrower and its Domestic Subsidiaries as of
the immediately preceding December 31st located within the geographic boundaries
of the United States of America (or the Outer Continental Shelf adjacent to the
United States of America). The Reserve Report as of December 31st of each year
shall be reviewed by one or more Approved Petroleum Engineers.”

 

Section 3.               Conditions Precedent.  This Second Amendment shall
become effective on the date (such date, the “Second Amendment Effective Date”),
when each of the following conditions is satisfied (or waived in accordance with
Section 12.02):

 

3.1           The Administrative Agent shall have received from the Majority
Lenders and the Borrower, counterparts (in such number as may be requested by
the Administrative Agent) of this Second Amendment signed on behalf of such
Person.

 

3.2           No Default shall have occurred and be continuing as of the date
hereof, after giving effect to the terms of this Second Amendment.

 

3.3           The Administrative Agent shall have received such other documents
as the Administrative Agent or its special counsel may reasonably require.

 

The Administrative Agent is hereby authorized and directed to declare this
Second Amendment to be effective when it has received documents confirming or
certifying, to the satisfaction of the Administrative Agent, compliance with the
conditions set forth in this Section or the waiver of such conditions as
permitted in Section 12.02.  Such declaration shall be final, conclusive and
binding upon all parties to the Credit Agreement for all purposes.

 

Section 4.               Miscellaneous.

 

4.1           Confirmation. The provisions of the Credit Agreement, as amended
by this Second Amendment, shall remain in full force and effect following the
effectiveness of this Second Amendment.

 

4.2           Ratification and Affirmation; Representations and Warranties.  The
Borrower hereby (a) ratifies and affirms its obligations under, and acknowledges
its continued liability under, each Loan Document to which it is a party and
agrees that each Loan Document to which it is a party remains in full force and
effect as expressly amended hereby and (b) represents and warrants to the
Lenders that as of the date hereof, after giving effect to the terms of this
Second Amendment:

 

(i)            all of the representations and warranties contained in each Loan
Document to which it is a party are true and correct, except to the extent any
such representations and warranties are expressly limited to an earlier date, in
which

 

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case, such representations and warranties shall continue to be true and correct
as of such specified earlier date, and

 

(ii)           no event or events have occurred which individually or in the
aggregate could reasonably be expected to have a Material Adverse Effect.

 

4.3           Counterparts. This Second Amendment may be executed by one or more
of the parties hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and the same
instrument.  Delivery of this Second Amendment by facsimile transmission shall
be effective as delivery of a manually executed counterpart hereof.

 

4.4           NO ORAL AGREEMENT. THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND
THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT
THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE
OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.

 

4.5           GOVERNING LAW. THIS SECOND AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

4.6           Payment of Expenses. In accordance with Section 12.03 of the
Credit Agreement, the Borrower agrees to pay or reimburse the Administrative
Agent for all of its reasonable out-of-pocket costs and reasonable expenses
incurred in connection with this Second Amendment, any other documents prepared
in connection herewith and the transactions contemplated hereby, including,
without limitation, the reasonable fees and disbursements of counsel to the
Administrative Agent.

 

4.7           Severability. Any provision of this Second Amendment which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

 

4.8           Successors and Assigns. This Second Amendment shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be
duly executed as of the date first written above.

 

 

BORROWER:

CABOT OIL & GAS CORPORATION

 

 

 

 

 

 

 

By:

/s/ Scott C. Schroeder

 

 

Name:

Scott C. Schroeder

 

 

Title:

Vice President and

 

 

 

Chief Financial Officer

 

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ADMINISTRATIVE AGENT:

JPMORGAN CHASE BANK, N.A.

 

 

 

 

 

 

By:

/s/ Michael A. Kamuf

 

 

Name: Michael A. Kamauf

 

 

Title: Vice President

 

 

 

 

 

 

LENDERS:

JPMORGAN CHASE BANK, N.A.

 

 

 

 

 

 

 

By:

/s/ Michael A. Kamauf

 

 

Name: Michael A. Kamauf

 

 

Title: Vice President

 

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BANK OF AMERICA, N.A.

 

 

 

 

 

 

By:

/s/ Jeffery H. Rathkamp

 

 

Name: Jeffery H. Rathkamp

 

 

Title: Managing Director

 

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BANK OF MONTREAL

 

 

 

 

 

 

 

By:

/s/ James V. Ducote

 

 

Name: James V. Ducote

 

 

Title: Director

 

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COMPASS BANK

 

 

 

 

 

 

By:

/s/ Ian Payne

 

 

Name: Ian Payne

 

 

Title: Vice President

 

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CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK AGENCY

 

 

 

 

 

 

 

By:

/s/ Eoin Roche

 

 

Name: Eoin Roche

 

 

Title: Authorized Signatory

 

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U.S. BANK NATIONAL ASSOCIATION

 

 

 

 

 

By:

/s/ Justin M. Alexander

 

 

Name: Justin M. Alexander

 

 

Title: Vice President

 

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WELLS FARGO BANK, N.A.

 

 

 

 

 

By:

/s/ Sarah Thomas

 

 

Name: Sarah Thomas

 

 

Title: Portfolio Manager

 

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BRANCH BANKING AND TRUST COMPANY

 

 

 

 

 

By:

/s/ Parul June

 

 

Name: Parul June

 

 

Title: Vice President

 

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KEYBANK NATIONAL ASSOCIATION

 

 

 

 

 

By:

/s/ Craig Hanselman

 

 

Name: Craig Hanselman

 

 

Title: Vice President

 

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.

 

 

 

 

 

By:

/s/ Signature

 

 

Name:

 

 

Title:

 

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COMERICA BANK

 

 

 

 

 

 

 

By:

/s/ Justin Crawford

 

 

Name: Justin Crawford

 

 

Title: Vice President

 

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ING CAPITAL LLC

 

 

 

 

 

 

 

By:

/s/ Charles Hall

 

 

Name: Charles Hall

 

 

Title: Managing Director

 

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THE FROST NATIONAL BANK

 

 

 

 

By:

/s/ Andrew A. Merryman

 

 

Name: Andrew A. Merryman

 

 

Title: Senior Vice President

 

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