EXHIBIT 10.2
SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT
     THIS SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”) is entered into as of March 23, 2007, by and among RANGE RESOURCES
CORPORATION, a Delaware corporation (“Borrower”), certain Subsidiaries of
Borrower as Guarantors, JPMORGAN CHASE BANK, N.A., a national banking
association as Administrative Agent for the Lenders (in such capacity,
“Administrative Agent”), and each of the Lenders which is a party to the Credit
Agreement (defined below).
WITNESSETH:
     WHEREAS, Borrower, Guarantors, Administrative Agent and the Lenders entered
into that certain Third Amended and Restated Credit Agreement dated as of
October 25, 2006 (as amended by that certain First Amendment to Third Amended
and Restated Credit Agreement dated March 12, 2007 (the “First Amendment”), and
as further amended, modified and restated from time to time, the “Credit
Agreement”), pursuant to which the Lenders made a revolving credit facility
available to Borrower; and
     WHEREAS, Borrower has requested that Administrative Agent and the Lenders
amend the Credit Agreement to (a) permit the Borrower to incur additional
unsecured subordinated Indebtedness in the amount of $250,000,000 on terms and
conditions substantially similar to the Senior Subordinated Notes outstanding on
the date hereof and (b) increase the Aggregate Commitment by $100,000,000, and
Administrative Agent and the Lenders have agreed to do so on the terms and
conditions hereinafter set forth.
     NOW, THEREFORE, the parties agree to amend the Credit Agreement as follows:
     1. Definitions. Unless otherwise defined herein, all capitalized terms used
herein shall have the same meanings ascribed to such terms in the Credit
Agreement.
     2. Amendments to Credit Agreement.
     2.1 Amended Definitions. The following definition set forth in Section 1.01
of the Credit Agreement shall be and it hereby is amended in its entirety to
read as follows:
“Senior Subordinated Notes” means (i) the 7 3/8% Senior Subordinated Notes due
2013, issued pursuant to the Indenture, (ii) the 6 3/8% Senior Subordinated
Notes due 2015, issued pursuant to the Indenture, (iii) the 7 1/2% Senior
Subordinated Notes due 2016, issued pursuant to the Indenture and
(iv) additional senior unsecured subordinated notes issued after the Second
Amendment Effective Date and prior to October 1, 2007 that have a scheduled
maturity no earlier than six months after the Maturity Date and are on
substantially the same terms and conditions, including the subordination terms,
as the Indenture.
SECOND AMENDMENT TO THIRD AMENDED
AND RESTATED AGREEMENT

 

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     2.2 Additional Definition. Section 1.01 of the Credit Agreement shall be
and it hereby is amended by adding the following definition in correct
alphabetical order:
“Second Amendment Effective Date” means the date the Second Amendment to Third
Amended and Restated Credit Agreement becomes effective.
     2.3 Indebtedness Under the Senior Subordinated Notes. Effective as of the
Second Amendment Effective Date, Section 7.01(h) of the Credit Agreement is
hereby amended to read in its entirety as follows:
     (h) Indebtedness under the Senior Subordinated Notes in an aggregate
principal amount not exceeding $850,000,000 at any time outstanding and
extensions, renewals, replacements and refinancing of any such Indebtedness that
does not exceed the maximum principal amount permitted under this clause (h) as
of the date of such extension, renewal, replacement or refinancing; provided
that any documentation which replaces the Senior Subordinated Notes and pursuant
to which the Senior Subordinated Notes are refinanced does not contain, either
initially or by amendment or other modification, any material terms, conditions,
covenants or defaults other than those which then exist in the Indenture and the
Senior Subordinated Notes or which could be included in the Indenture or the
Senior Subordinated Notes by an amendment or other modification that would not
be prohibited by the terms of this Agreement; and
     2.4 Increase in the Aggregate Commitment. Notwithstanding anything to the
contrary in Section 2.03 of the Credit Agreement, effective as of the Second
Amendment Effective Date, the Aggregate Commitment shall be $900,000,000, and
Schedule 2.01 of the Credit Agreement shall be and it hereby is amended and
replaced in its entirety with Schedule 2.01 attached hereto.
     3. Redetermined Borrowing Base. This Amendment shall constitute a notice of
the redetermination of the Borrowing Base pursuant to Section 3.04 of the Credit
Agreement and Administrative Agent hereby notifies Borrower that, as of the
Second Amendment Effective Date the redetermined Borrowing Base is
$1,200,000,000 until the next redetermination of the Borrowing Base pursuant to
Article III of the Credit Agreement.
     4. Binding Effect. Except to the extent its provisions are specifically
amended, modified or superseded by this Amendment, the Credit Agreement, as
amended, and all terms and provisions thereof shall remain in full force and
effect, and the same in all respects are confirmed and approved by the Borrower
and the Lenders.
     5. Second Amendment Effective Date. This Amendment shall be effective upon
the satisfaction of the conditions precedent set forth in Section 7 hereof (the
“Second Amendment Effective Date”).
SECOND AMENDMENT TO THIRD AMENDED
AND RESTATED AGREEMENT

2

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     6. Conditions Precedent. The obligations of Administrative Agent and the
Lenders under this Amendment shall be subject to the following conditions
precedent:
          (a) Execution and Delivery. Borrower and each Guarantor shall have
executed and delivered this Amendment to Administrative Agent;
          (b) Payment of Fee. Borrower shall have paid to Administrative Agent,
for the ratable benefit of the Lenders, a fee in an amount equal to 0.15% of the
$100,000,000 increase in the Aggregate Commitment.
          (c) Representations and Warranties. The representations and warranties
of the Credit Parties under this Amendment are true and correct in all material
respects as of such date, as if then made (except to the extent that such
representations and warranties related solely to an earlier date);
          (d) No Default. No Default shall have occurred and be continuing;
          (e) Other Documents. The Administrative Agent shall have received such
other instruments and documents incidental and appropriate to the transaction
provided for herein as the Administrative Agent or its counsel may reasonably
request, and all such documents shall be in form and substance satisfactory to
the Administrative Agent.
     7. Representations and Warranties. Each Credit Party hereby represents and
warrants that (a) except to the extent that any such representations and
warranties expressly relate to an earlier date, all of the representations and
warranties contained in the Credit Agreement and in each Loan Document are true
and correct as of the date hereof after giving effect to this Amendment, (b) the
execution, delivery and performance by such Credit Party of this Amendment have
been duly authorized by all necessary corporate, limited liability company or
partnership action required on its part, and this Amendment and the Credit
Agreement are the legal, valid and binding obligations of such Credit Party,
enforceable against such Credit Party in accordance with their terms, except as
their enforceability may be affected by the effect of bankruptcy, insolvency,
reorganization, moratorium or other similar laws now or hereafter in effect
relating to or affecting the rights or remedies of creditors generally, and
(c) no Default or Event of Default has occurred and is continuing.
     8. Counterparts. This Amendment may be executed in one or more counterparts
and by different parties hereto in separate counterparts each of which when so
executed and delivered shall be deemed an original, but all such counterparts
together shall constitute but one and the same instrument; signature pages may
be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same
document. However, this Amendment shall bind no party until the Borrower, the
Lenders, and the Administrative Agent have executed a counterpart. Delivery of
photocopies of the signature pages to this Amendment by facsimile or electronic
mail shall be effective as delivery of manually executed counterparts of this
Amendment.
SECOND AMENDMENT TO THIRD AMENDED
AND RESTATED AGREEMENT

3

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     9. WRITTEN CREDIT AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS
AMENDMENT AND TOGETHER WITH THE OTHER LOAN DOCUMENTS, REPRESENTS THE FINAL
AGREEMENT BETWEEN AND AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE
OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN AND AMONG THE PARTIES.
     10. Guarantors. The Guarantors hereby consent to the execution of this
Amendment by the Borrower and reaffirm their guaranties of all of the
obligations of the Borrower to the Lenders. Borrower and Guarantors acknowledge
and agree that the renewal, extension and amendment of the Credit Agreement
shall not be considered a novation of account or new contract but that all
existing rights, titles, powers, and estates in favor of the Lenders constitute
valid and existing obligations in favor of the Lenders. Borrower and Guarantors
each confirm and agree that (a) neither the execution of this Amendment or any
other Loan Document nor the consummation of the transactions described herein
and therein shall in any way effect, impair or limit the covenants, liabilities,
obligations and duties of the Borrower and the Guarantors under the Loan
Documents, and (b) the obligations evidenced and secured by the Loan Documents
continue in full force and effect. Each Guarantor hereby further confirms that
it unconditionally guarantees to the extent set forth in the Credit Agreement
the due and punctual payment and performance of any and all amounts and
obligations owed to the Lenders under the Credit Agreement or the other Loan
Documents.
[Remainder of page blank. Signature pages follow]
SECOND AMENDMENT TO THIRD AMENDED
AND RESTATED AGREEMENT

4

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

            BORROWER:

RANGE RESOURCES CORPORATION
      By:           Roger S. Manny, Senior Vice President             

            GUARANTORS:

RANGE ENERGY I, INC.
RANGE HOLDCO, INC.
RANGE PRODUCTION COMPANY
RANGE ENERGY VENTURES CORPORATION
GULFSTAR ENERGY, INC.
RANGE ENERGY FINANCE CORPORATION
PMOG HOLDINGS, INC.
PINE MOUNTAIN ACQUISITION, INC.
PINE MOUNTAIN OIL AND GAS, INC.
RANGE OPERATING NEW MEXICO, INC.
RANGE OPERATING TEXAS, LLC
STROUD ENERGY GP, LLC
STROUD ENERGY MANAGEMENT GP, LLC
      By:           Roger S. Manny, Senior Vice President of all of        the
foregoing Credit Parties     

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED AGREEMENT      
    Signature Page    

 

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            GREAT LAKES ENERGY PARTNERS, L.L.C
      By:   RANGE HOLDCO, INC., Its member         RANGE ENERGY I, INC., Its
member                      By:           Roger S. Manny, Senior Vice President
of each of        the foregoing members        RANGE PRODUCTION I, L.P.,
      By:   RANGE PRODUCTION COMPANY, Its general partner                      
        By:           Roger S. Manny, Senior Vice President                RANGE
RESOURCES, L.L.C.
      By:   RANGE PRODUCTION COMPANY, Its member         RANGE HOLDCO, INC., Its
member                      By:           Roger S. Manny, Senior Vice President
of each of        the foregoing members        STROUD ENERGY LP, LLC,
      By:           Thomas M. Strauss, Manager             

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED AGREEMENT      
    Signature Page    

 

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            STROUD ENERGY, LTD.,
      By:   Stroud Energy Management GP, LLC, Its general partner              
                By:           Roger S. Manny, Senior Vice President             
  STROUD OIL PROPERTIES, L.P.,
      By:   Stroud Energy GP, LLC, Its general partner                          
    By:           Roger S. Manny, Senior Vice President             

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED AGREEMENT      
    Signature Page    

 

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            JPMORGAN CHASE BANK, N.A., (successor by merger to Bank
One, N.A. (Illinois) as Administrative Agent and a Lender
      By:           Wm. Mark Cranmer, Senior Vice President             

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED AGREEMENT      
    Signature Page    

 

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                  BANK OF SCOTLAND, as a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED AGREEMENT      
    Signature Page    

 

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                  CALYON NEW YORK BRANCH, as a Syndicated Agent and a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED AGREEMENT      
    Signature Page    

 

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                  COMPASS BANK, as a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED AGREEMENT      
    Signature Page    

 

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                  BANK OF AMERICA, N.A., as a Documentation Agent and a Lender  
 
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

          SECOND AMENDMENT TO THIRD AMENDED         AND RESTATED CREDIT
AGREEMENT           Signature Page    

 

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                  FORTIS CAPITAL CORP., as a Documentation
Agent and a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  NATEXIS BANQUES POPULAIRES, as a Lender
   
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  COMERICA BANK, as a Lender
   
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  CAPITAL ONE, N.A. (f/k/a Hibernia National
Bank), as a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  AMEGY BANK N.A. (f/k/a Southwest Bank of
Texas N.A.), as a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  BMO CAPITAL MARKETS FINANCING, INC.
(f/k/a HARRIS NESBITT FINANCING, INC.),
as a Syndication Agent and a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  KEY BANK, as a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  WACHOVIA BANK, NATIONAL ASSOCIATION,
as a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  UNION BANK OF CALIFORNIA, N.A.,
as a Lender    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  THE BANK OF NOVA SCOTIA, as a Lender
   
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  THE FROST NATIONAL BANK, as a Lender
   
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  CITIBANK, N.A., as a Lender    
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  CREDIT SUISSE, Cayman Islands Branch,
as a Lender    
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  SUNTRUST BANK, as a Lender    
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  SOCIÉTÉ GÉNÉRALE, as a Lender    
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  U.S. BANK NATIONAL ASSOCIATION,
as a Lender    
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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                  DEUTSCHE BANK TRUST COMPANY
AMERICAS, as a Lender    
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           
 
           
 
  By:        
 
           
 
  Name:        
 
           
 
  Title:        
 
           

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Signature Page

 

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SCHEDULE 2.01
APPLICABLE PERCENTAGES AND INITIAL COMMITMENTS

                              Applicable   Initial Lender   Title   Percentage  
Commitment
JPMorgan Chase Bank , N.A.
  Administrative Agent     5.6250000 %   $ 50,600,000  
 
                   
Bank of America, N.A.
  Documentation Agent     5.6250000 %   $ 50,600,000  
 
                   
Fortis Capital Corp.
  Documentation Agent     5.6250000 %   $ 50,600,000  
 
                   
Calyon New York Branch
  Syndicated Agent     5.6250000 %   $ 50,600,000  
 
                   
BMO Capital Markets Financing, Inc., (f/k/a Harris Nesbitt Financing, Inc.)
  Syndication Agent     5.6250000 %   $ 50,600,000  
 
                   
Union Bank of California, N.A.
  Co-Agent     5.0000000 %   $ 45,000,000  
 
                   
Bank of Scotland
  Agent     5.6250000 %   $ 50,600,000  
 
                   
Wachovia Bank, National Association
  Co-Agent     4.3750000 %   $ 39,400,000  
 
                   
Citibank, N.A.
  Co-Agent     4.3750000 %   $ 39,400,000  
 
                   
Comerica Bank
  Co-Agent     5.0000000 %   $ 45,000,000  
 
                   
Compass Bank
        3.1250000 %   $ 28,100,000  
 
                   
Credit Suisse, Cayman Islands Branch
        3.7500000 %   $ 33,800,000  
 
                   
Deutsche Bank Trust Company Americas
  Co-Agent     4.3750000 %   $ 39,400,000  
 
                   
Key Bank
  Co-Agent     4.3750000 %   $ 39,400,000  
 
                   
Natexis Banques Populaires
  Co-Agent     4.3750000 %   $ 39,400,000  
 
                   
The Bank of Nova Scotia
  Co-Agent     5.0000000 %   $ 45,000,000  
 
                   
Société Générale
        4.3750000 %   $ 39,400,000  
 
                   
Suntrust Bank
        4.3750000 %   $ 39,400,000  
 
                   
The Frost National Bank
        3.1250000 %   $ 28,100,000  
 
                   
Amegy Bank N.A. (f/k/a Southwest Bank of Texas N.A.)
        3.1250000 %   $ 28,100,000  
 
                   
US Bank, National Association
        4.3750000 %   $ 39,400,000  
 
                   
Capital One, N.A. (f/k/a Hibernia National Bank)
        3.1250000 %   $ 28,100,000  
 
                   
TOTAL
        100.00000 %   $ 900,000,000  

     
SECOND AMENDMENT TO THIRD AMENDED
   
AND RESTATED CREDIT AGREEMENT
   

  Schedule 2.01