# EDGAR Filing Document

**Accession Number:** 0000890447
**File Stem:** 0001387131-23-000291
**Filing Date:** 2023-1
**Character Count:** 70233
**Document Hash:** 7d7c696f446395b9d7888200969dac51
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-000291.hdr.sgml**: 20230112

**ACCESSION NUMBER**: 0001387131-23-000291

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230108

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230112

**DATE AS OF CHANGE**: 20230112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vertex Energy Inc.
- **CENTRAL INDEX KEY:** 0000890447
- **STANDARD INDUSTRIAL CLASSIFICATION:** PETROLEUM REFINING [2911]
- **IRS NUMBER:** 943439569
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11476
- **FILM NUMBER:** 23526143

**BUSINESS ADDRESS:**
- **STREET 1:** 1331 GEMINI STREET
- **STREET 2:** SUITE 250
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77058
- **BUSINESS PHONE:** 866-660-8156

**MAIL ADDRESS:**
- **STREET 1:** 1331 GEMINI STREET
- **STREET 2:** SUITE 250
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77058

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WORLD WASTE TECHNOLOGIES INC
- **DATE OF NAME CHANGE:** 20040830

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VOICE POWERED TECHNOLOGY INTERNATIONAL INC
- **DATE OF NAME CHANGE:** 19940831

?xml version="1.0" encoding="utf-8"?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): **January 8, 2023**

**<u>VERTEX ENERGY, INC.</u>**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-11476** | **94-3439569** |
| **(State or other jurisdiction of<br> incorporation)** | **(Commission File Number)** | **(IRS Employer<br> Identification No.)** |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; **1331 Gemini Street**<br> **Suite 250**<br> **Houston,Texas** | **77058** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code: <u>(866) 660-8156</u>**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Title of each class** | &nbsp;&nbsp;**Trading Symbol(s)** | &nbsp;&nbsp;**Name of each exchange on which registered** |
| &nbsp;&nbsp; Common Stock,<br> $0.001 Par Value Per Share | &nbsp;&nbsp;VTNR | &nbsp;&nbsp; The NASDAQ<br> Stock Market LLC<br> (Nasdaq Capital Market) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

***Amendment to Loan and Security Agreement***

Vertex Energy, Inc. (the "<u>Company</u>", "<u>we</u>" and "<u>us</u>") previously filed a Current Report on Form 8-K with the Securities and Exchange Commission (the "<u>SEC</u>" or the "<u>Commission</u>") on April 7, 2022 (as amended by that Form 8-K/A (Amendment No. 1) filed with the SEC on April 26, 2022) disclosing that on April 1, 2022, Vertex Refining Alabama LLC, a Delaware limited liability company ("<u>Vertex Refining</u>") which is indirectly wholly-owned by the Company; the Company, as a guarantor; substantially all of the Company's direct and indirect subsidiaries, as guarantors; the lenders party thereto as lenders; and Cantor Fitzgerald Securities, in its capacity as administrative agent and collateral agent for the lenders ("<u>Agent</u>"), entered into a Loan and Security Agreement. The Company subsequently filed (i) a Current Report on Form 8-K with the SEC on May 27, 2022 disclosing that an amendment to the Loan and Security Agreement was entered into on May 26, 2022; and (ii) a Current Report on Form 8-K with the SEC on October 5, 2022 disclosing that an amendment to the Loan and Security Agreement was entered into on September 30, 2022.

On January 8, 2023, Vertex Refining; the Company, as a guarantor; substantially all of the Company's direct and indirect subsidiaries, as guarantors, Vertex Renewables LLC and Vertex Renewables Alabama LLC, both wholly-owned indirect subsidiaries of the Company (collectively, the "<u>New Subsidiary Guarantors</u>"); the lenders thereto; and the Agent, entered into a third amendment ("<u>Amendment No. Three</u>") to the Loan and Security Agreement (the Loan and Security Agreement, as amended from time to time, the "<u>Loan and Security Agreement</u>").

Amendment No. Three waives and extends certain deadlines and time periods for the Company to provide certain financial information and take other action in connection with the Loan and Security Agreement.

In addition, each of the New Subsidiary Guarantors also entered into a Guarantor Joinder, agreeing to be bound by the terms of the Loan and Security Agreement, and to guaranty the amounts owed thereunder.

The foregoing descriptions of Amendment No. Three and the Guarantor Joinder do not purport to be complete and are qualified in their entirety by reference to the full text of such Amendment No. Three and Guarantor Joinder, which are filed as <u>Exhibits 10.1</u> and <u>10.2</u> to this Current Report on Form 8-K, respectively, and are incorporated into this <u>Item 1.01</u> by reference in their entirety.

**Item 9.01** **Financial Statements and Exhibits.**

(d) <u>Exhibits</u>.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |

---

---

| | |
|:---|:---|
| [10.1\*](ex10-1.htm) | [Amendment Number Three to Loan and Security Agreement dated January 8, 2023, by and among Vertex Refining Alabama LLC, as borrower, Vertex Energy, Inc., as parent and as a guarantor, certain direct and indirect subsidiaries of Vertex Energy, Inc., as guarantors, the lenders party thereto, and Cantor Fitzgerald Securities, as administrative agent and collateral agent for the lenders](ex10-1.htm) |
| [10.2\*](ex10-2.htm) | [Form of Guarantor Joinder relating to that certain Loan and Security Agreement dated April 1, 2022, as amended from time to time, by and among Vertex Refining Alabama LLC, as borrower, Vertex Energy, Inc., as parent and as a guarantor, certain direct and indirect subsidiaries of Vertex Energy, Inc., as guarantors, the lenders party thereto, and Cantor Fitzgerald Securities, as administrative agent and collateral agent for the lenders](ex10-2.htm) |
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K |

---

\* Filed herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **<u>VERTEX ENERGY, INC.</u>** | **<u>VERTEX ENERGY, INC.</u>** |
| Date: January 12, 2023 | *By:* | */s/ Chris Carlson* |
|  |  | Chris Carlson |
|  |  | Chief Financial Officer |

---

## Exhibit 10.1

[Vertex Energy Inc. 8-K](vtnr-8k_011223.htm)

**Exhibit 10.1**

**AMENDMENT NUMBER THREE<br> TO LOAN AND SECURITY AGREEMENT**

**THIS AMENDMENT NUMBER THREE TO LOAN AND SECURITY AGREEMENT** (this "<u>Amendment No. 3</u>"), dated as of January 8, 2023, is entered into by and among Vertex Energy Inc., a Nevada corporation ("<u>Parent</u>"), Vertex Refining Alabama LLC, a Delaware limited liability company ("<u>Borrower</u>"), each of Parent's direct and indirect Subsidiaries listed on Schedule 1 hereto other than Excluded Subsidiaries (collectively, the "<u>Existing Subsidiary Guarantors</u>" and each, individually, an "<u>Existing Subsidiary Guarantor</u>"), Vertex Renewables LLC, a Delaware limited liability company ("<u>Vertex Renewables</u>"), Vertex Renewables Alabama LLC, a Delaware limited liability company ("<u>Vertex Renewables Alabama</u>"; Vertex Renewables, together with Vertex Renewables Alabama, each a "<u>New Subsidiary Guarantor</u>" and collectively, the "<u>New Subsidiary Guarantors</u>"; the New Subsidiary Guarantors, together with the Existing Subsidiary Guarantors and Parent, each a "<u>Guarantor</u>" and collectively, the "<u>Guarantors</u>"), Cantor Fitzgerald Securities ("<u>Cantor</u>") as administrative agent and collateral agent for the Lenders ("<u>Agent</u>") and the lenders from time to time party hereto, constituting the Required Lenders (collectively with the Initial Lenders, the "<u>Lenders</u>" and each, a "<u>Lender</u>").

**<u>W I T N E S S E T H</u>**

**WHEREAS**, Parent, Borrower, the Existing Subsidiary Guarantors, Lenders and Agent are parties to that certain Loan and Security Agreement, dated as of April 1, 2022, as amended by that certain Amendment No. 1 to Loan and Security Agreement, dated as of May 26, 2022 and that certain Amendment No. 2 to Loan and Security Agreement, dated as of September 30, 2022 (the "<u>Existing Loan Agreement</u>", and the Existing Loan Agreement as amended by this Amendment No. 3, the "<u>Loan Agreement</u>"; capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Loan Agreement);

**WHEREAS**, certain Defaults have occurred under the Existing Loan Agreement which are described in more detail on <u>Annex I</u> attached hereto (the "<u>Specified Defaults</u>");

**WHEREAS**, pursuant to Section 14.4(c) of the Loan Agreement, the Loan Parties have requested that the Lenders constituting the Required Lenders waive the Specified Defaults under the Loan Agreement;

**WHEREAS**, the Lenders party hereto comprising the Required Lenders are willing to waive the Specified Defaults in accordance with and subject to the terms and conditions set forth herein;

**WHEREAS**, Borrower has requested that Agent and Lenders consent to certain amendments to the Existing Loan Agreement, including, in relation to the extension of the timeline for delivering the annual operating budget for fiscal year 2023 (the "<u>Budget Extension</u>"); and

**WHEREAS**, upon the terms and conditions set forth herein, Agent and Lenders have agreed to make such amendments to the Existing Loan Agreement to effectuate, among other things, the Budget Extension, on the terms and conditions set forth herein.

**NOW, THEREFORE**, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Defined Terms</u>. All initially capitalized terms used herein (including the preamble and recitals hereof) without definition shall have the meanings ascribed thereto in Section 1.1 of the Loan Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Limited Waiver under the Loan Agreement</u>.

<u>Limited Waiver of Specified Defaults and Related Representations and Warranties/Covenants</u>. Notwithstanding the provisions of the Loan Agreement to the contrary, the Lenders party hereto (which, for the avoidance of doubt, constitute the Required Lenders) hereby waive, on a one-time basis, the Specified Defaults and any Default or Event of Default directly related thereto (including, without limitation, any Default or Event of Default arising from or relating to any certification or representation made or deemed made as to the absence of a Default or Event of Default).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Effectiveness of Limited Waiver</u>. This waiver shall be effective only to the extent specifically
 set forth herein and shall not (i) be construed as a waiver of any breach, Default or
 Event of Default other than as specifically waived herein nor as a waiver of any breach,
 Default or Event of Default of which the Lenders have not been informed by the Loan Parties,
 (ii) affect the right of the Lenders to demand compliance by the Loan Parties with all
 terms and conditions of the Loan Documents, except as specifically waived by this Waiver,
 (iii) be deemed a waiver of any transaction or future action on the part of the Loan
 Parties requiring the Lenders' or the Required Lenders' consent (as applicable)
 or approval under the Loan Documents, (iv) except as waived hereby, be deemed or construed
 to be a waiver or release of, or a limitation upon, the Agent's or the Lenders'
 exercise of any rights or remedies under the Loan Agreement or any other Loan Document,
 whether arising as a consequence of any Default or Event of Default (other than as specifically
 waived herein) whether now existing or otherwise, all such rights and remedies hereby
 being expressly reserved, or (v) establish a custom or course of dealing or conduct between
 the Agent and the Lenders, on the one hand, and the Borrower or any other Loan Party
 on the other hand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Amendments to Loan Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section
 6.3(a)(iv) of the Existing Loan Agreement is hereby amended by amending and restating
 such section as follows:

"(iv) as soon as available, but in any event within thirty (30) days prior to the end of Parent's fiscal year, an annual operating budget and financial projections (including income statements, balance sheets and cash flow statements) for such fiscal year, presented in a quarterly format reasonably acceptable to the Required Lenders, provided that with respect to Borrower's annual operating budget for fiscal year 2023, the Borrower may deliver such annual operating budget to Agent by no later than January 10, 2023."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Section
 6.4 of the Existing Loan Agreement is hereby amended by amending and restating such section
 as follows (*for the avoidance of doubt, the stricken text and underlined text are for purposes of reflecting the specific amendments to the below paragraph only*):

"**6.4 Certificates of Compliance; Disclosure Letter Updates.** Each time financial statements are required to be furnished pursuant to Section 6.3(a)(i) or (iii) above, there shall be delivered to Agent a certificate signed by a Responsible Officer of Parent (each a "*Compliance Certificate*") in substantially the form attached hereto as ***Exhibit G*** certifying that as of the end of the reporting period for such financial statements, the Loan Parties were in full compliance with all of the terms and conditions of the Loan Documents, and setting forth such other information as Agent shall reasonably request. If any information contained in the Schedules to the Disclosure Letter changes after the Closing Date and if that information relates to a subsection of Section 5 which specifically allows for information in the Disclosure Letter to be updated after the Closing Date, Borrower shall update such information in an amended Disclosure Letter (if applicable), to be delivered with the next compliance certificate then due. Parent shall deliver the Compliance Certificate and updated Disclosure Letter (if any) to Agent by email to the address specified pursuant to **Section 11**, and Agent and Lenders shall be entitled to rely on the information contained therein."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Exhibit
 G to the Existing Loan Agreement is hereby amended by replacing the reference to (i)
 $12,500,000 with $17,500,000 and (ii) 60 days with 45 days. A new Exhibit G incorporating
 such amendments is attached hereto as <u>Annex II</u>.

&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Conditions Precedent to Amendment</u>. The satisfaction (or waiver in writing by Agent (at the direction
 of the Required Lenders) or the Required Lenders) of each of the following shall constitute
 conditions precedent to the effectiveness of this Amendment No. 3 (the date on which
 all such conditions precedent are either satisfied or waived, being the " <u>Third Amendment Effective Date</u> "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Agent and the Lenders shall have received this Amendment No. 3, duly executed by the
 parties hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A
 duly executed officer's certificate of each New Subsidiary Guarantor containing
 the following documents: (i) the Organization Documents of each New Subsidiary Guarantor
 (which, to the extent filed with a Governmental Authority, shall be certified as of a
 recent date by such Governmental Authority) or to the extent applicable, certifying no
 change thereto as of the Third Amendment Effective Date, (ii) resolutions authorizing
 the Loan Documents, (iii) a good standing certificate from (A) each New Subsidiary Guarantor's
 state of formation and (B) from any state where such party is, or is required to be,
 qualified to do business to the extent failure to so qualified could reasonably be expected
 to have a Material Adverse Effect and (iv) incumbency and representative signatures,
 or to the extent applicable, certifying no change thereto as of the Third Amendment Effective
 Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) All
 necessary consents of stockholders or members and other third parties with respect to
 the execution, delivery and performance of the Loan Documents by the New Subsidiary Guarantors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 execution and delivery by the New Subsidiary Guarantors of a Joinder to Loan Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The
 execution and delivery by the New Subsidiary Guarantors of a Joinder to Intercreditor
 Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The
 execution and delivery by the New Subsidiary Guarantors of a Joinder to Intercompany
 Subordination Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The
 execution and delivery by the New Subsidiary Guarantors of a Joinder to Collateral Pledge
 Agreement (collectively the documents in <u>clauses (e)</u> through <u>(h)</u> referred
 to herein as the " <u>Joinder Documents</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Customary
 legal opinion of Stroock & Stroock & Lavan LLP, in its capacity as special counsel
 to the New Subsidiary Guarantors, dated as of the Third Amendment Effective Date and
 addressed to the Agent and the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Such
 documents, instruments and agreements, including certificates evidencing Collateral consisting
 of Equity Interests, Uniform Commercial Code financing statements or amendments to Uniform
 Commercial Code financing statements, as the Lenders shall reasonably request to evidence
 the perfection and priority of the security interests granted to Agent pursuant to Article
 4 of the Loan Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Subject
 to Section 6.12 of the Loan Agreement, the Agent shall have received, all documents,
 agreements and instruments required to create and perfect the Agent's security
 interest in the Collateral. The New Subsidiary Guarantors shall have filed or shall have
 provided all UCC-1 financing statements in form for filing by the Required Lenders or
 their counsel and shall have delivered all certificated pledged equity and documented
 pledged debt (if any) with appropriate transfer powers and/or allonges by the Third Amendment
 Effective Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) The
 New Subsidiary Guarantors shall have provided no less than three (3) Business Days prior
 to the Third Amendment Effective Date the documentation and other information to the
 Lenders that are reasonably requested by the Lenders no later than 10 days prior to the
 Third Amendment Effective Date under applicable "know your customer" and
 anti-money laundering rules and regulations, including the USA PATRIOT ACT, the USA FREEDOM
 Act, IRS Form W-9 (if applicable) and other applicable tax forms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Confirmation
 that (i) the representations and warranties contained in Section 5 of the Loan Agreement
 and in <u>Section 5</u> hereof shall be true and correct on and as of the Third Amendment
 Effective Date (except for such representations and warranties made as of a specific
 date, in which case such representations and warranties shall be true and correct as
 of such specific date), after giving effect in all cases to any standard(s) of materiality
 contained in Article 5 of the Loan Agreement and <u>Section 5</u> hereof as to such representations
 and warranties, and (ii) after giving effect to the waiver in Section 2 hereof, no Default
 or Event of Default shall have occurred and be continuing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Such
 other documents, and completion of such other matters, as Agent or Lenders may reasonably
 deem necessary or appropriate.

For purposes of determining compliance with the conditions specified in this <u>Section 4</u>, each Lender that has signed this Amendment No. 3 shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Agent shall have received notice from such Lender prior to the proposed Third Amendment Effective Date specifying its objection thereto.

&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Representations and Warranties</u>. Each Loan Party jointly and severally, hereby:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) represents
 and warrants that, each of the representations and warranties made to Agent and Lenders
 under the Loan Agreement and all of the other Loan Documents are true and correct in
 all material respects (except that such materiality qualifier shall not be applicable
 to any representations and warranties that already are qualified or modified as to "materiality"
 or "Material Adverse Effect" in the text thereof, which representations and
 warranties are true and correct in all respects subject to such qualification) on and
 as of the date hereof (after giving effect to this Amendment No. 3 and the other documents
 executed in connection with this Amendment No. 3) except to the extent that such representations
 and warranties specifically relate to an earlier date, in which case such representations
 and warranties shall be true and correct in all material respects (except that such materiality
 qualifier shall not be applicable to any representations or warranties that already are
 qualified or modified as to "materiality" or "Material Adverse Effect"
 in the text thereof, which representations and warranties shall be true and correct in
 all respects subject to such qualification) on and as of such earlier date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) represents
 and warrants that, after giving effect to this Amendment No. 3, no Default or Event of
 Default will have occurred and be continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) represents
 and warrants that the execution, delivery and performance by each Loan Party of this
 Amendment No. 3 and the other documents, agreements and instruments executed by any Loan
 Party in connection herewith (collectively, together with this Amendment No. 3, the " <u>Amendment Documents</u> ") and the consummation of the transactions contemplated hereby or
 thereby, are within such Loan Party's powers, have been duly authorized by all
 necessary organizational action, and do not contravene (i) the Organization Documents
 of such Loan Party or (ii) any law or any material Contractual Obligation of any Loan
 Party, except, for purposes of this <u>clause (c)</u>, to the extent such contravention
 would not reasonably be expected to have a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) represents
 and warrants that no authorization or approval or other action by, and no notice to or
 filing with, any Governmental Authority, any stockholders, members, partners or any other
 equityholders of any Loan Party, and any Person pursuant to any Contractual Obligation,
 is required for the due execution, delivery and performance by any Loan Party of any
 Amendment Document to which it is a party that has not already been obtained if the failure
 to obtain such authorization, approval or other action, or to provide such notice or
 make such filing, could reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) represents
 and warrants that each Amendment Document has been duly executed and delivered by each
 Loan Party party thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) represents
 and warrants that this Amendment No. 3 constitutes, and each other Amendment Document
 to be executed on the date hereof will constitute, upon execution, the legal, valid and
 binding obligation of each Loan Party party thereto enforceable against such Loan Party
 in accordance with its respective terms, subject to the effect of any applicable bankruptcy,
 insolvency, reorganization or moratorium or similar laws relating to or affecting the
 rights of creditors generally and subject to general principles of equity (regardless
 of whether enforcement is sought in a proceeding at law or in equity).

&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Payment of Costs and Fees</u>. Borrower shall pay to Agent and each Lender all expenses required
 to be paid pursuant to Section 2.5 and Section 10.3 of the Loan Agreement in connection
 with the preparation, negotiation, execution and delivery of this Amendment No. 3 and
 any documents and instruments relating hereto.

&nbsp;&nbsp;&nbsp;&nbsp;7.  **<u>GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL PROVISIONS</u>. THIS AMENDMENT NO. 3 SHALL BE SUBJECT TO THE PROVISIONS REGARDING GOVERNING LAW, JURISDICTION, AND WAIVER OF JURY TRIAL SET FORTH IN SECTION 14.14 OF THE LOAN AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY THIS REFERENCE, *MUTATIS MUTANDIS*.** 

&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Amendments</u>.
 This Amendment No. 3 cannot be altered, amended, changed or modified in any respect except
 in accordance with Section 14.4 of the Loan Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Counterparts</u>.
 This Amendment No. 3 and any notices delivered under this Amendment No. 3 may be executed
 by means of (i) an electronic signature that complies with the Federal Electronic Signatures
 in Global and National Commerce Act, the New York State Electronic Signatures and Records
 Act or any other similar state laws based on the Uniform Electronic Transactions Act;
 (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual signature.
 Each electronic signature or faxed, scanned, or photocopied manual signature shall for
 all purposes have the same validity, legal effect, and admissibility in evidence as an
 original manual signature. The words "execution," "execute",
 "signed," "signature," and words of like import in or related
 to any document to be signed in connection with this Agreement and the transactions contemplated
 hereby shall be deemed to include electronic signatures or the keeping of records in
 electronic form, each of which shall be of the same legal effect, validity or enforceability
 as a manually executed signature or the use of a paper-based recordkeeping system, as
 the case may be, to the extent and as provided for in any Applicable Law, including the
 Federal Electronic Signatures in Global and National Commerce Act, the New York State
 Electronic Signatures and Records Act, or any other similar state laws based on the Uniform
 Electronic Transactions Act. This Amendment No. 3 may be executed in any number of counterparts,
 and it is not necessary that the signatures of all parties hereto be contained on any
 one counterpart hereof, each counterpart will be deemed to be an original, and all together
 shall constitute one and the same document.

&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Effect on Loan Documents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Loan Agreement, as amended hereby, and each of the other Loan Documents shall be and remain in full force and effect in accordance with their respective terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Amendment No. 3 shall not operate, except as expressly set forth herein, as a modification or waiver of any right, power, or remedy of Agent or any Lender under the Loan Agreement or any other Loan Document. Except for the amendments to the Loan Agreement expressly set forth herein, the Loan Agreement and the other Loan Documents shall remain unchanged and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon and after the effectiveness of this Amendment No. 3, each reference in the Loan Agreement to "this Agreement", "hereunder", "herein", "hereof" or words of like import referring to the Loan Agreement, and each reference in the other Loan Documents to "the Loan Agreement", "thereunder", "therein", "thereof" or words of like import referring to the Loan Agreement, shall mean and be a reference to the Loan Agreement as modified and amended hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent that any of the terms and conditions in any of the Loan Documents shall contradict or be in conflict with any of the terms or conditions of the Loan Agreement, after giving effect to this Amendment No. 3, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Loan Agreement as modified or amended hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Amendment No. 3 is a Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Entire Agreement</u>. This Amendment No. 3 and each of the other Loan Documents, taken together,
 constitute and contain the entire agreement between the Loan Parties, Agent and Lenders
 and supersede any and all prior agreements, negotiations, correspondence, understandings
 and communications between the parties, whether written or oral, respecting the subject
 matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Reaffirmation of Obligations</u>. The Loan Parties hereby acknowledge and agree that all terms, covenants,
 conditions and provisions of the Loan Documents (including, without limitation, each
 Collateral Document) continue in full force and effect, are herein reaffirmed in their
 entirety and remain unaffected and unchanged, except to the extent expressly set forth
 in this Amendment No. 3. Neither this Amendment No. 3 nor the execution and delivery
 of this Amendment No. 3 by Agent, the Lenders and the Loan Parties hereto shall constitute
 a novation or renewal of the Term Loan or the Indebtedness or any of the Loan Documents.
 This Amendment No. 3, except to the extent expressly set forth herein, is not intended
 to and shall not be deemed or construed to create or constitute a waiver, release, or
 relinquishment of, and shall not affect, the liens, security interests and rights, remedies
 and interests under the Loan Documents, all of which are hereby ratified, confirmed,
 renewed and extended in all respects.

&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Severability of Provisions</u>. Each provision of this Amendment No. 3 shall be severable from every
 other provision of this Amendment No. 3 for the purpose of determining the legal enforceability
 of any specific provision.

&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Agent</u>.
 The Agent has executed this Amendment No. 3 as directed under and in accordance with
 the Loan Agreement and will perform this Amendment No. 3 solely in its capacity as Agent
 hereunder, and not individually. In performing under this Amendment No. 3, the Agent
 shall have all rights, protections, immunities and indemnities granted to it under the
 Loan Agreement. Subject to the terms of the Loan Agreement, the Agent shall have no obligation
 to perform or exercise any discretionary act. Each of the undersigned Lenders, constituting
 the Required Lenders both prior to and immediately after the Third Amendment Effective
 Date hereby directs and consents to the Agent's execution of this Amendment No.
 3, the Joinder Documents and the documents contemplated hereunder and thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Intercreditor Agreement Governs</u>. This Amendment No. 3 and the other Loan Documents are subject
 to the terms and conditions set forth in the Intercreditor Agreement, in all respects
 and, in the event of any conflict between the terms of the Intercreditor Agreement and
 this Amendment No. 3, the terms of the Intercreditor Agreement shall govern. Notwithstanding
 anything herein to the contrary, the lien and security interest granted to the Agent
 or any Intermediation Facility Agent, as applicable, pursuant to any Loan Document or
 any Intermediation Facility Document, and the exercise of any right or remedy in respect
 of the Collateral by the Agent or any Intermediation Facility Agent, as applicable hereunder,
 under any other Loan Document, under any Intermediation Facility Document and any other
 agreement entered into in connection with the foregoing are subject to the provisions
 of the Intercreditor Agreement and in the event of any conflict between the terms of
 the Intercreditor Agreement, this Amendment No. 3, any other Loan Document, any Intermediation
 Facility Document and any other agreement entered into in connection with the foregoing,
 the terms of the Intercreditor Agreement shall govern and control with respect to the
 exercise of any such right or remedy or the Loan Parties' covenants and obligations.

[Signature pages follow]

IN WITNESS WHEREOF, the parties have entered into this Amendment No. 3 as of the date first above written.

---

| | | |
|:---|:---|:---|
| **NEW SUBSIDIARY GUARANTORS**: | **VERTEX RENEWABLES LLC,** | **VERTEX RENEWABLES LLC,** |
|  | a Delaware limited liability company | a Delaware limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
|  | **VERTEX RENEWABLES ALABAMA LLC,** | **VERTEX RENEWABLES ALABAMA LLC,** |
|  | a Delaware limited liability company | a Delaware limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
| **PARENT**: | **VERTEX ENERGY, INC.,** | **VERTEX ENERGY, INC.,** |
|  | a Nevada corporation | a Nevada corporation |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
| **BORROWER**: | **VERTEX REFINING ALABAMA LLC,** | **VERTEX REFINING ALABAMA LLC,** |
|  | a Louisiana limited liability company | a Louisiana limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |

---

[Signature page to Amendment No. 3]

---

| | | |
|:---|:---|:---|
| **EXISTING SUBSIDIARY GUARANTORS**: | **VERTEX REFINING TEXAS LLC,** | **VERTEX REFINING TEXAS LLC,** |
|  | a Texas limited liability company | a Texas limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
|  | **VERTEX MARINE FUEL SERVICES LLC,** | **VERTEX MARINE FUEL SERVICES LLC,** |
|  | a Delaware limited liability company | a Delaware limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
|  | **VERTEX ENERGY OPERATING, LLC,** | **VERTEX ENERGY OPERATING, LLC,** |
|  | a Texas limited liability company | a Texas limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
|  | **VERTEX REFINING LA, LLC,** | **VERTEX REFINING LA, LLC,** |
|  | a Louisiana limited liability company | a Louisiana limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
|  | **VERTEX REFINING OH, LLC,** | **VERTEX REFINING OH, LLC,** |
|  | an Ohio limited liability company | an Ohio limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | President and Chief Executive Officer |
|  | **HPRM LLC,** | **HPRM LLC,** |
|  | a Delaware limited liability company | a Delaware limited liability company |
|  | By: | /s/ Benjamin P. Cowart |
|  | Name: | Benjamin P. Cowart |
|  | Title: | Director, President and Chief Executive Officer |

---

[Signature page to Amendment No. 3]

---

| | |
|:---|:---|
| **TENSILE-HEARTLAND ACQUISITION CORPORATION,** | **TENSILE-HEARTLAND ACQUISITION CORPORATION,** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | Director, President and Chief Executive Officer |
| **VERTEX RECOVERY MANAGEMENT, LLC,** | **VERTEX RECOVERY MANAGEMENT, LLC,** |
| a Texas limited liability company | a Texas limited liability company |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **VERTEX REFINING NV, LLC,** | **VERTEX REFINING NV, LLC,** |
| a Nevada limited liability company | a Nevada limited liability company |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **VERTEX SPLITTER CORPORATION,** | **VERTEX SPLITTER CORPORATION,** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | Director |
| **VERTEX REFINING MYRTLE GROVE LLC,** | **VERTEX REFINING MYRTLE GROVE LLC,** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **CRYSTAL ENERGY, LLC,** | **CRYSTAL ENERGY, LLC,** |
| an Alabama limited liability company | an Alabama limited liability company |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President |

---

[Signature page to Amendment No. 3]

---

| | |
|:---|:---|
| **VERTEX ACQUISITION SUB, LLC,** | **VERTEX ACQUISITION SUB, LLC,** |
| a Nevada limited liability company | a Nevada limited liability company |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **BANGO OIL LLC,** | **BANGO OIL LLC,** |
| a Nevada limited liability company | a Nevada limited liability company |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **CEDAR MARINE TERMINALS, LP,** | **CEDAR MARINE TERMINALS, LP,** |
| a Texas limited partnership | a Texas limited partnership |
| By: Vertex II GP, its General Partner | By: Vertex II GP, its General Partner |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **CROSSROAD CARRIERS, L.P.,** | **CROSSROAD CARRIERS, L.P.,** |
| a Texas limited partnership | a Texas limited partnership |
| By: Vertex II GP, its General Partner | By: Vertex II GP, its General Partner |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **VERTEX RECOVERY, L.P.,** | **VERTEX RECOVERY, L.P.,** |
| a Texas limited partnership | a Texas limited partnership |
| By: Vertex II GP, its General Partner | By: Vertex II GP, its General Partner |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |

---

[Signature page to Amendment No. 3]

---

| | |
|:---|:---|
| **H & H OIL, L.P.,** | **H & H OIL, L.P.,** |
| a Texas limited partnership | a Texas limited partnership |
| By: Vertex II GP, its General Partner | By: Vertex II GP, its General Partner |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **VERTEX II GP, LLC,** | **VERTEX II GP, LLC,** |
| a Nevada limited liability company | a Nevada limited liability company |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |
| **TENSILE-MYRTLE GROVE ACQUISITION CORPORATION,** | **TENSILE-MYRTLE GROVE ACQUISITION CORPORATION,** |
| a Delaware corporation | a Delaware corporation |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chairman of the Board |
| **VERTEX MERGER SUB, LLC,** | **VERTEX MERGER SUB, LLC,** |
| a Delaware limited liability company | a Delaware limited liability company |
| By: | /s/ Benjamin P. Cowart |
| Name: | Benjamin P. Cowart |
| Title: | President and Chief Executive Officer |

---

[Signature page to Amendment No. 3]

**In Witness Whereof**, the parties hereto have caused this Amendment No. 3 to be executed as of the date first above written.

---

| | | |
|:---|:---|:---|
| **LENDERS**: | **LENDERS**: | **LENDERS**: |
| **WHITEBOX MULTI-STRATEGY PARTNERS, LP** | **WHITEBOX MULTI-STRATEGY PARTNERS, LP** | **WHITEBOX MULTI-STRATEGY PARTNERS, LP** |
| By: | /s/ Andrew Thau | /s/ Andrew Thau |
|  | Name: | Andrew Thau |
|  | Title: | Senior Legal Analyst |
| **WHITEBOX RELATIVE VALUE PARTNERS, LP** | **WHITEBOX RELATIVE VALUE PARTNERS, LP** | **WHITEBOX RELATIVE VALUE PARTNERS, LP** |
| By: | /s/ Andrew Thau | /s/ Andrew Thau |
|  | Name: | Andrew Thau |
|  | Title: | Senior Legal Analyst |
| **WHITEBOX GT FUND, LP** | **WHITEBOX GT FUND, LP** | **WHITEBOX GT FUND, LP** |
| By: | /s/ Andrew Thau | /s/ Andrew Thau |
|  | Name: | Andrew Thau |
|  | Title: | Senior Legal Analyst |
| **PANDORA SELECT PARTNERS, LP** | **PANDORA SELECT PARTNERS, LP** | **PANDORA SELECT PARTNERS, LP** |
| By: | /s/ Andrew Thau | /s/ Andrew Thau |
|  | Name: | Andrew Thau |
|  | Title: | Senior Legal Analyst |

---

[Signature page to Amendment No. 3]

---

| | | |
|:---|:---|:---|
| **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.**, | **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.**, | **HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.**, |
| By: | Highbridge Capital Management, LLC, | Highbridge Capital Management, LLC, |
|  | as Trading Manager and not in its individual capacity | as Trading Manager and not in its individual capacity |
| By: | /s/ Jonathan Segal | /s/ Jonathan Segal |
|  | Name: | Jonathan Segal |
|  | Title: | Managing Director, Co-Chief Investment Officer |

---

[Signature page to Amendment No. 3]

---

| | | |
|:---|:---|:---|
| **BLACKROCK DIVERSIFIED PRIVATE DEBT FUND MASTER LP** | **BLACKROCK DIVERSIFIED PRIVATE DEBT FUND MASTER LP** | **BLACKROCK DIVERSIFIED PRIVATE DEBT FUND MASTER LP** |
| By: | BlackRock Financial Management, Inc., its manager | BlackRock Financial Management, Inc., its manager |
| By: | /s/ Zach Viders | /s/ Zach Viders |
|  | Name: | Zach Viders |
|  | Title: | Authorized Signatory |
| **GCO II Aggregator 2 L.P.** | **GCO II Aggregator 2 L.P.** | **GCO II Aggregator 2 L.P.** |
| By: | BlackRock Financial Management, Inc., its manager | BlackRock Financial Management, Inc., its manager |
| By: | /s/ Zach Viders | /s/ Zach Viders |
|  | Name: | Zach Viders |
|  | Title: | Authorized Signatory |

---

[Signature page to Amendment No. 3]

---

| | | |
|:---|:---|:---|
| **CHAMBERS ENERGY CAPITAL IV, LP** | **CHAMBERS ENERGY CAPITAL IV, LP** | **CHAMBERS ENERGY CAPITAL IV, LP** |
| By: | CEC Fund IV GP, LLC, its general partner | CEC Fund IV GP, LLC, its general partner |
| By: | /s/ Robert Hendricks | /s/ Robert Hendricks |
|  | Name: | Robert Hendricks |
|  | Title: | Partner |

---

[Signature page to Amendment No. 3]

---

| | | |
|:---|:---|:---|
| **CROWDOUT CAPITAL LLC** | **CROWDOUT CAPITAL LLC** | **CROWDOUT CAPITAL LLC** |
| By: | /s/ Alexander Schoenbaum | /s/ Alexander Schoenbaum |
|  | Name: | Alexander Schoenbaum |
|  | Title: | Managing Member |
| **CROWDOUT CREDIT OPPORTUNITIES FUND LLC** | **CROWDOUT CREDIT OPPORTUNITIES FUND LLC** | **CROWDOUT CREDIT OPPORTUNITIES FUND LLC** |
| By: | /s/ Alexander Shoenbaum | /s/ Alexander Shoenbaum |
|  | Name: | Alexander Schoenbaum |
|  | Title: | Managing Member |

---

[Signature page to Amendment No. 3]

---

| | | |
|:---|:---|:---|
| **AGENT**: | **AGENT**: |  |
| **CANTOR FITZGERALD SECURITIES, as Agent** | **CANTOR FITZGERALD SECURITIES, as Agent** | **CANTOR FITZGERALD SECURITIES, as Agent** |
| By: | /s/ James Buccola | /s/ James Buccola |
|  | Name: | James Buccola |
|  | Title: | Head of Fixed Income |

---

[Signature page to Amendment No. 3]

**<u>ANNEX I</u>**

**<u>SPECIFIED DEFAULTS</u>**

Pursuant to Section 8.2 of the Existing Loan Agreement, a Default has occurred as a result of each of the following:

● the Borrower's failure to deliver an annual operating budget at least thirty (30) days prior to the end of Parent's fiscal year, as required by Section 6.3(a)(iv) of the Loan Agreement;

● the Borrower's failure to deliver Parent's consolidated financial statements including a cash flow statement, income statement and balance sheet for the period reported and certified by a Responsible Officer of Parent within thirty (30) days after the end of each calendar month during the occurrence and continuation of a Default or Event of Default, as required by Section 6.3(a)(ii); and

● Parent's failure to deliver the Compliance Certificate concurrently with the quarterly financials delivered on (i) June 30, 2022 and (ii) September 30, 2022, as required by Section 6.4 of the Loan Agreement and any amendments, if applicable, to the Disclosure Letter since the Closing Date or the latest delivered Compliance Certificate, including, any specific updates to Vehicles and any changes to any Intellectual Property rights, as required by Section 5.22 and Section 6.10(a) of the Loan Agreement.

**ANNEX II** 

**EXHIBIT G – COMPLIANCE CERTIFICATE** 

[See Attached]

**Exhibit G**

**Compliance Certificate**

VIA EMAIL:

[Date]

Cantor Fitzgerald Securities

900 West Trade Street, Suite #725

Charlotte, NC 28202

Attn: Bobbie Young

Phone: (704) 374-0574

Email: <u>BYoung@cantor.com</u>

Re: Vertex Refining Alabama LLC- Compliance Certificate for [*enter fiscal period*]

Dear [__]:

Reference is made to that certain Loan and Security Agreement, dated as of April 1, 2022 (as amended, restated, supplemented and/or otherwise modified from time to time, the "*Loan Agreement*"), by and among Vertex Energy, Inc., a Nevada corporation ("*Parent*"), Vertex Refining Alabama LLC, a Delaware limited liability company (the "*Borrower*"), each of Parent's direct and indirect subsidiaries from time to time party thereto, Cantor Fitzgerald Securities, as agent (the "*Agent*") and the several lenders from time to time party thereto (collectively, the "*Lenders*"). Capitalized terms used but not defined herein shall have the meaning provided in the Loan Agreement.

The undersigned is an officer of the Parent, knowledgeable of all the financial matters of the Parent and the Borrower, and is authorized to provide this certification.

The undersigned hereby certifies, in his or her capacity as an officer of the Parent and not in an individual capacity, on behalf of the Parent, that in accordance with Section 6.4 of the Loan Agreement, except as set forth on Schedule I hereto, the Loan Parties are in compliance for the period ending ___________ with all of the terms and conditions of the Loan Documents, and hereby reaffirms that except as provided below, all representations and warranties contained therein are true and correct in all material respects (or, if qualified by materiality, in all respects) on and as of the date of this Compliance Certificate with the same effect as though made on and as of such date (except for such representations and warranties made as of a specific date, which were true and correct as of such specific date). Attached are the required documents supporting the above certification, including evidence showing compliance with Section 7.19 of the Loan Agreement. The undersigned further certifies that (x) no Default or Event of Default has occurred or is continuing and (y) the attached financial statements are prepared in accordance with GAAP, consistently applied, (except for the absence of footnotes with respect to unaudited financial statement and subject to normal year-end adjustments) and are consistent from one period to the next except as explained below.

---

| | | |
|:---|:---|:---|
| **Reporting Requirement** | **Due Date** | **Check if Included** |
| Quarterly Financial Statements | Quarterly within 45 days | ________ |
| Annual Audited Financial Statements | FYE within 120 days | ________ |

---

---

| | | | |
|:---|:---|:---|:---|
| **<u>Financial Covenant</u>** | **<u>Required</u>** | **<u>Actual</u>** | **Complies<br> <u>(yes/no)</u>** |
| Consolidated Liquidity<br> (Section 7.19)<sup>1</sup> | $17500000 |  |  |

---

As applicable, attached hereto is an amended Disclosure Letter (together with, in each case, a copy marked to show changes from the previous version).

Please use the following space to list any exceptions with respect to the certifications provided above (the listing on an exception does not excuse non-compliance):

Name:<br> Title:

<sup>1</sup> Begin reporting amounts commencing April 1, 2022.

## Exhibit 10.2

[Vertex Energy Inc. 8-K](vtnr-8k_011223.htm)

**Exhibit 10.2**

**Form of Guarantor Joinder**

THIS JOINDER AGREEMENT NO. 3 (this "*Agreement*"), dated as of January 5, 2023, to that certain Loan and Security Agreement dated April 1, 2022 (as amended by that certain Amendment Number One to Loan and Security Agreement, dated as of May 26, 2022, that certain Amendment Number Two to Loan and Security Agreement dated as September 30, 2022, and as may be further amended from time to time, the "*Loan Agreement*") by and among Vertex Energy, Inc., a Nevada corporation ("*Parent*"), Vertex Refining Alabama LLC, a Delaware limited liability company (the "*Borrower*"), each of Parent's direct and indirect subsidiaries from time to time party thereto, Cantor Fitzgerald Securities, as agent (the "*Agent*") and the several lenders from time to time party thereto (collectively, the "*Lenders*"). Capitalized terms used herein but not otherwise defined shall have the meanings provided in the Loan Agreement.

The undersigned, Vertex Renewables LLC, a Delaware limited liability company ("*Renewables*") and Vertex Renewables Alabama LLC, a Delaware limited liability company ("*Renewables AL*"; Renewables, together with Renewables AL, each an "*Additional Guarantor*" and collectively, the "*Additional Guarantors*") each wishes to become a party to the Loan Agreement and to acquire and undertake the rights and obligations of a "Guarantor" thereunder. Each Additional Guarantor is entering into this Agreement in accordance with the provisions of the Loan Agreement in order to become a Guarantor thereunder.

Accordingly, each Additional Guarantor and the other Loan Parties hereby agree as follows with the Agent, for the benefit of the Secured Parties:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Additional Guarantor hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the Additional Guarantor will be deemed to be a party to and a "Guarantor" under the Loan Agreement and shall have all of the obligations and rights of a Guarantor thereunder as if it had executed the Loan Agreement and the other Loan Documents as a Guarantor. The Additional Guarantor hereby ratifies, as of the date hereof, and agrees to be bound by, all representations and warranties, covenants and other terms, conditions and provisions of the Loan Agreement and the other applicable Loan Documents. Without limiting the generality of the foregoing terms of this Paragraph 1, the Additional Guarantor (i) is hereby made a party to the Loan Agreement and the other Loan Documents as a Guarantor thereunder with the same force and effect as if originally named therein as a Guarantor and the Additional Guarantor hereby jointly and severally assumes and agrees to pay and perform all obligations of a Guarantor under the Loan Agreement and each of the other Loan Documents, (ii) hereby guarantees, jointly and severally together with the other Guarantors, the prompt payment of the Secured Obligations in accordance with Article XIII of the Loan Agreement and (iii) hereby expressly assumes all obligations and liabilities of a Guarantor under the Loan Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Additional Guarantor and the other Loan Parties hereby agree that all of the representations and warranties contained in Article V of the Loan Agreement and each other Loan Document are true and correct in all material respects as of the date hereof ‎(without duplication of any materiality qualifier set forth therein) except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects (without duplication of any materiality standard set forth therein) as of such earlier date, and except that for purposes hereof, the representations and warranties contained in Section 5.9 of the Loan Agreement shall be deemed to refer to the most recent financial statements furnished pursuant to clauses (i) and (iii), respectively, of Section 6.3(a) of the Loan Agreement.‎

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Additional Guarantor acknowledges and confirms that it has received a copy of the Loan Agreement and the schedules and exhibits thereto and each Loan Document and Collateral Document and the schedules and exhibits thereto. The information on the schedules to the Loan Agreement and the Collateral Documents are hereby supplemented (to the extent permitted under the Loan Agreement or Collateral Documents) to reflect the information shown on the attached <u>Schedule A</u> (and each of the Loan Parties ratifies such supplements and confirms that its obligations under the Collateral Documents, as so supplemented, shall be and continue to be in full force and effect).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The Loan Parties confirm that the Loan Agreement is, and upon the Additional Guarantor becoming a Guarantor, shall continue to be, in full force and effect. The parties hereto confirm and agree that immediately upon the Additional Guarantor becoming a Guarantor the term "Obligations," as used in the Loan Agreement, shall include all obligations of the Additional Guarantor under the Loan Agreement and under each other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Each of the Loan Parties and the Additional Guarantor agrees that at any time and from time to time, upon the written request of the Agent, it will execute and deliver such further documents and do such further acts as the Agent may reasonably request in accordance with the terms and conditions of, and to the extent that such further assurances are required under, the Loan Agreement and the other Loan Documents in order to effect the purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The following conditions must be met on or before the date hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Loan Documents</u>. Agent shall have received this Agreement executed by each applicable Loan Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Organization Documents; Incumbency</u>. Agent shall have received (i) copies of each Organization Document executed by such Additional Guarantor, and, to the extent applicable, certified as of a recent date by the appropriate governmental official, each dated as of the date hereof or a recent date prior thereto, (ii) signature and incumbency certificates of the officers of such Person executing the Loan Documents to which it is a party, (iii) resolutions of the Board or similar governing body of each Loan Party, in each case, approving and authorizing the execution, delivery, and performance of this Agreement and the other Loan Documents to which it is a party or by which it or its assets may be bound as of the date hereof, certified as of the date hereof by its secretary or an assistant secretary or other similar responsible officer as being in full force and effect without modification or amendment, and (iv) a good standing certificate from the applicable Governmental Authority of such Additional Guarantor's jurisdiction of incorporation, organization, or formation dated a recent date prior to the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Personal Property Collateral</u>. In order to create in favor of Agent, for the benefit of Secured Parties, a valid, perfected security interest in personal property Collateral, Agent shall have received:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) original certificates (if any) with respect to all of the capital stock issued by Additional Guarantor, together with undated powers executed in blank with respect thereto (<u>provided</u>, that any such certificates issued by any Person other than Additional Guarantor shall only be required to be delivered on the date hereof to the extent timely received after using commercially reasonable efforts to obtain them).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Fees and Expenses</u>. All accrued reasonable costs, fees, and expenses (including, without limitation, reasonable legal fees and expenses and the reasonable fees and expenses of any other advisors) and other compensation due and payable to Agent and the Lenders and required by this Agreement and the other Loan Documents to be paid on the date hereof shall have been paid, in the case of expenses, to the extent a reasonably detailed invoice has been delivered to Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Officer's Certificate</u>. Borrower shall have delivered to the Agent an executed Officer's Certificate, certifying the items described in clause (b) of this paragraph 6, with all attachments thereto.

Each Lender, by delivering its signature page to this Agreement shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be approved by the Agent or Lenders, as applicable, on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. This Agreement may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Agreement by fax transmission or other electronic mail transmission (e.g. "pdf" or "tif") shall be effective as delivery of a manually executed counterpart of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Each provision of this Agreement shall be severable from every other provision of this Joinder Agreement for the purpose of determining the legal enforceability of any specific provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York. The terms of Section 14.14 of the Loan Agreement are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms*.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Cantor Fitzgerald Securities is entering into this Agreement solely in its capacity as Agent and shall be entitled to all of the rights, privileges and immunities set forth in the Loan Agreement in acting hereunder.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, each of the Loan Parties and the Additional Guarantor has caused this Agreement to be duly executed by its authorized officer, and the Agent, for the benefit of the Secured Parties, has caused the same to be accepted by its authorized officer, as of the day and year first above written.

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| | |
|:---|:---|
| **ADDITIONAL GUARANTORS**: | **VERTEX RENEWABLES LLC,** |
|  | a Delaware limited liability company |
|  | By: |
|  | Name: |
|  | Title: |
|  | **VERTEX RENEWABLES ALABAMA LLC,** |
|  | a Delaware limited liability company |
|  | By: |
|  | Name: |
|  | Title: |
| **PARENT**: | **VERTEX ENERGY INC.,** |
|  | a Nevada corporation |
|  | By: |
|  | Name: |
|  | Title: |
| **BORROWER**: | **VERTEX REFINING ALABAMA LLC,** |
|  | a Louisiana limited liability company |
|  | By: |
|  | Name: |
|  | Title: |
| **SUBSIDIARY GUARANTORS**: | **VERTEX ENERGY OPERATING, LLC,** |
|  | a Texas limited liability company |
|  | By: |
|  | Name: |
|  | Title: |

---

---

| |
|:---|
| **VERTEX REFINING, LA, LLC,** |
| a Louisiana limited liability company |
| By: |
| Name: |
| Title: |

---

[Signature Page to Joinder to Loan and Security Agreement]

---

| |
|:---|
| **VERTEX REFINING OH, LLC,** |
| an Ohio limited liability company |
| By: |
| Name: |
| Title: |
| **HPRM LLC,** |
| a Delaware limited liability company |
| By: |
| Name: |
| Title: |
| **TENSILE-HEARTLAND ACQUISITION CORPORATION,** |
| a Delaware corporation  |
| By: |
| Name: |
| Title: |
| **VERTEX RECOVERY MANAGEMENT, LLC,** |
| a Texas limited liability company |
| By: |
| Name: |
| Title: |
| **VERTEX REFINING NV, LLC,** |
| a Nevada limited liability company |
| By: |
| Name: |
| Title: |
| **VERTEX SPLITTER CORPORATION,** |
| a Delaware corporation |
| By: |
| Name: |
| Title: |
| **VERTEX REFINING MYRTLE GROVE LLC,** |
| a Delaware corporation |
| By: |
| Name: |
| Title: |

---

[Signature Page to Joinder to Loan and Security Agreement]

---

| |
|:---|
| **CRYSTAL ENERGY, LLC,** |
| an Alabama limited liability company |
| By: |
| Name: |
| Title: |
| **VERTEX ACQUISITION SUB, LLC,** |
| a Nevada limited liability company |
| By: |
| Name: |
| Title: |
| **BANGO OIL LLC,** |
| a Nevada limited liability company |
| By: |
| Name: |
| Title: |
| **CEDAR MARINE TERMINALS, LP,** |
| a Texas limited partnership |
| By: |
| Name: |
| Title: |
| **CROSSROAD CARRIERS, L.P.,** |
| a Texas limited partnership |
| By: |
| Name: |
| Title: |
| **VERTEX RECOVERY, L.P.,** |
| a Texas limited partnership |
| By: |
| Name: |
| Title: |

---

[Signature Page to Joinder to Loan and Security Agreement]

---

| |
|:---|
| **H & H OIL, L. P.,** |
| a Texas limited partnership |
| By: |
| Name: |
| Title: |

---

---

| |
|:---|
| **VERTEX II GP, LLC,** |
| a Nevada limited liability company |
| By: |
| Name: |
| Title: |

---

---

| |
|:---|
| **TENSILE-MYRTLE GROVE ACQUISITION CORPORATION,** |
| a Delaware corporation |
| By: |
| Name: |
| Title: |

---

---

| |
|:---|
| **VERTEX MERGER SUB, LLC,** |
| a Delaware limited liability company |
| By: |
| Name: |
| Title: |

---

---

| |
|:---|
| **VERTEX MARINE FUEL SERVICES LLC,** |
| a Delaware limited liability company |
| By: |
| Name: |
| Title: |

---

---

| |
|:---|
| **VERTEX REFINING TEXAS LLC,** |
| a Texas limited liability company |
| By: |
| Name: |
| Title: |

---

[Signature Page to Joinder to Loan and Security Agreement]

Acknowledged, accepted and agreed:

---

| |
|:---|
| **CANTOR FITZGERALD SECURITIES**, |
| as Agent |
| By: |

---

Name:

Title:

[Signature Page to Joinder to Loan and Security Agreement]

**<u>Schedule A</u>**

**Schedule 1<br> Subsidiaries**

● VERTEX ENERGY OPERATING, LLC, a Texas limited liability company (wholly-owned) ()"*Vertex Operating* ")

● Vertex Splitter Corporation, a Delaware corporation (wholly-owned) ()"*Vertex Splitter* ")

● Vertex Refining LA, LLC, a Louisiana limited liability company (wholly-owned by Vertex Operating) ()"*VRLA* ")

● Crystal Energy, LLC, an Alabama limited liability company (wholly-owned by Vertex Operating) ()"*Crystal* ")

● Tensile-Myrtle Grove Acquisition Corporation, a Delaware corporation (wholly-owned by Vertex Splitter) ()"*TMGA* ")

● VERTEX MERGER SUB, LLC, a California limited liability company (wholly-owned by Vertex Operating) ()"*Merger Sub* ")

● Vertex Refining Alabama LLC, a Delaware limited liability company (wholly-owned by Vertex Operating) ()"*VRAL* ")

● VERTEX RECOVERY MANAGEMENT, LLC, a Texas limited liability company (wholly-owned by Vertex Operating) ()"*VRM* ")

● Vertex Refining NV, LLC, a Nevada limited liability company (wholly owned by Vertex Operating) ()"*VRNV* ")

● Vertex Refining Myrtle Grove LLC, a Delaware limited liability company (86% owned by Vertex Operating and 14% owned by TMGA)

● Vertex II GP, LLC, a Nevada limited liability company (100% owned by Vertex Operating) ()"*Vertex II GP* ")

● Vertex Acquisition Sub, LLC, a Nevada limited liability company (wholly-owned by Vertex Operating) ()"*Vertex Acquisition* ")

● BANGO OIL LLC, a Nevada limited liability company (wholly-owned by VRNV) ()"*Bango Oil* ")

● VERTEX RECOVERY, L.P., a Texas limited partnership (99% owned by Vertex Acquisition and 1% owned by Vertex II GP) ()"*Vertex Recovery"*)

● CROSSROAD CARRIERS, L.P., a Texas limited partnership (99% owned by Vertex Acquisition and 1% owned by Vertex II GP) ()"*Crossroad Carriers"*)

● CEDAR MARINE TERMINALS, LP, a Texas limited partnership (99% owned by Vertex Acquisition and 1% owned by Vertex II GP) ()"*CMT"*)

● H & H Oil, L. P., a Texas limited partnership (99% owned by Vertex Acquisition and 1% owned by Vertex II GP) ()"*H &H Oil"*)

● HPRM, LLC, a Delaware limited liability company (1% owned by Vertex Splitter, 65% owned by THAC and 34% owned by Vertex Operating) ()"*HPRM* ")

● Vertex Refining OH, LLC, an Ohio limited liability company (wholly owned by HPRM) ()"*Vertex Ohio* ")

● Tensile-Heartland Acquisition Corporation, a Delaware corporation (100% owned by Vertex Splitter) ()"*THAC* ")

● Vertex Marine Fuel Services LLC, a Delaware limited liability company (wholly-owned by Vertex Operating) ()"*Vertex Marine* ")

● Vertex Refining Texas LLC, a Texas limited liability company (wholly-owned by Vertex Operating) ()"*Vertex Texas* ")

● Vertex Renewables LLC, a Delaware limited liability company (wholly-owned by Vertex Operating) ()"*Renewables* ")

● Vertex Renewables Alabama LLC, a Delaware limited liability company (wholly-owned by Renewables) ()"*Renewables AL* ")

**<u>Excluded Subsidiaries as of the Amendment Effective Date</u>**

● Leverage Lubricants, LLC, a Texas limited liability company (51% owned by Vertex Operating)

● Vertex Recovery Management LA, LLC, a Louisiana limited liability company (51% owned by VRM)