Document:

Exhibit 10.1

 

REDEMPTION
DEPOSIT AGREEMENT

 

THIS
REDEMPTION DEPOSIT AGREEMENT (this “Agreement”), dated April 20,
2004, by and among ELDORADO RESORTS LLC (the “Company”), ELDORADO
CAPITAL CORP. (“Capital”; the Company and Capital are collectively the “Issuers”),
and U.S. Bank National Association, in its capacity as trustee (the “Trustee”)
under the Indenture (hereinafter described);

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Indenture dated as of July 31, 1996, as amended, modified
or supplemented and in effect as of the date hereof (the “Indenture”),
by and among the Company, Capital and the Trustee, the Issuers have heretofore
issued the securities listed in Schedule I hereto (the “Securities”),
it being understood that all terms not otherwise defined in this Agreement
which are defined in the Indenture are used herein with the same meaning; and

 

WHEREAS,
in connection with the issuance of a new series of 9% Senior Notes due 2014
(the “Senior Notes”), the Issuers desire to redeem the Securities; and

 

WHEREAS,
as a condition, among other conditions, to the issue and sale of the Senior
Notes, the Issuers and the Trustee shall have entered into this Agreement
providing for the deposit and application, together with other funds, of the
proceeds of the Senior Notes; and

 

WHEREAS,
the Issuers have placed with the Trustee, in trust pending receipt of the
deposit of moneys and delivery as described herein, the applicable notice of
redemption regarding the Securities as required by Section 3.03 of the
Indenture (the “Notice of Redemption”), a copy of which is attached
hereto as Exhibit A, which Notice of Redemption specifies the effective
date of the redemption of the Securities (which shall be a date not more than
31 days after the date hereof, the “Redemption Date”).

 

NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants
hereinafter set forth, the parties hereto agree as follows:

 

Section 1.  Deposit of Moneys. 
The Issuers have deposited, or have caused to be deposited, with the
Trustee moneys (including the proceeds of the Senior Notes) in the amount of
$67,172,329.50 (the “Redemption Amount”) in the manner and for the
purposes herein provided.

 

Section 2.  Creation of Trust Account. 
There is hereby created and established with the Trustee a special and
irrevocable trust account to be designated the “Redemption Trust Account” (the
“Redemption Account”).  All
moneys deposited pursuant to this Agreement shall be deposited, and all
investments and proceeds thereof representing principal shall be held, in the
Redemption Account and applied as provided in this Agreement.

 

1

 

Section 3.  Acknowledgments by Trustee; Delivery of
Notice.  The Trustee acknowledges that (a) it has
received the Redemption Amount from or on behalf of the Issuers and has
credited the same to the Redemption Account and (b) it holds no other funds for
the purpose of paying debt service on the Securities.  The Trustee agrees to hold in trust for the Issuers the Notice of
Redemption pending the deposit of moneys in the Redemption Account as described
herein and to deliver such Notice of Redemption upon the receipt of such
deposit.  Following the receipt of such
deposit, the Trustee shall transmit to the holders of the Securities the
information set forth in the Notice of Redemption as provided in the Indenture.

 

Section 4.  Irrevocable Deposit. 
The deposit by the Issuers of moneys in the Redemption Account under
this Agreement constitutes an irrevocable deposit thereof in trust solely for
the purpose of making the payments described in Section 5 hereof.

 

Section 5.  Application of Trust Funds. 
(a) The Trustee agrees to apply the moneys deposited in the Redemption
Account, and investment proceeds thereof representing principal, in accordance
with the provisions hereof, to the payment of principal of and premium, if any,
and interest on the Securities on the Redemption Date.  Any sums held hereunder as to which
investments are not herein otherwise specified or directed shall be held
uninvested as part of the Redemption Account.

 

(b)                                 It is expressly understood and agreed
that the Redemption Account shall be held solely for the benefit of the Holders
of the Securities until all sums owing to the Holders of Securities under the
Indenture have been paid in full.

 

(c)                                  The principal of and interest on the
Securities are payable in the amounts and at the times shown on
Schedule I.

 

(d)                                 The Redemption Amount deposited into the
Redemption Account is sufficient, without any investment thereof, to pay when
due the principal of, plus premium, if any, and accrued interest on the
Securities and to effect the redemption described in the Notice of Redemption.

 

Section 6.  Rights and Limitations of Liability. 
(a) The liability of the Trustee for the payment of the principal of,
plus premium, if any, and interest on the Securities pursuant to this Agreement
shall be limited solely to the application of the moneys deposited pursuant
hereto, and investment proceeds thereof representing principal, for such
purposes in the Redemption Account.  No
provision of this Agreement shall require the Trustee to expend or risk its own
funds, or otherwise incur any financial liability in the performance of any of
its duties hereunder, if there is reasonable ground for believing that the
repayment of such funds or liability is not reasonably assured to it under the
terms of this Agreement or adequate indemnity against such risk is not
reasonably assured to it.

 

(b)                                 The parties acknowledge and agree that
the Trustee is entering into this Agreement in its capacity as trustee under
the Indenture.  As such, the Trustee
shall be entitled, in performing any of its duties under this Agreement, to all
rights, privileges,

 

2

 

protections, immunities and limitations of liability
provided the Trustee under the Indenture, which rights privileges, protections,
immunities and limitations are specifically incorporated herein by this
reference thereto, and nothing herein shall constitute a waiver of any rights
or protections available to the Trustee under the Indenture.  Without in any way limiting the generality
of the preceding sentence, the Trustee will be entitled to the rights set forth
in Article 7 of the Indenture in performing any of its duties under this
Agreement.

 

(c)                                  The recitals herein shall not be
considered as made by, or imposing any obligations or liability upon, the
Trustee.  The Trustee makes no
representations as to the value, condition or sufficiency of the Redemption Account,
or any part thereof, or as to the title of the Issuers thereto, or as to the
security afforded thereby or hereby, and the Trustee shall not incur any
liability or responsibility in respect to any of such matters.

 

Section 7.  Books and Records. 
The Trustee shall maintain full and complete records of all assets and
funds held by the Trustee from time to time under this Agreement, and of all
receipts and disbursements hereunder, and shall furnish reports thereof to the
Issuers upon their written request (but not more often than monthly).  The books and records of the Trustee
pertaining to this Agreement and the assets and funds held in the Redemption
Account hereunder shall be made available for examination by the Issuers and
their respective agents, attorneys and accountants from time to time during
normal business hours subject to such reasonable regulations or restrictions as
the Trustee may from time to time impose.

 

Section 8.  Trustee’s Authority to Make Investments. 
Except as provided in Sections 5 and 10 hereof, the Trustee shall have
no power or duty to invest any funds held under this Agreement or to sell,
transfer or otherwise dispose of the moneys held hereunder.

 

Section 9.  Insufficient Funds. 
If at any time the moneys (including investment proceeds thereof
representing principal) in the Redemption Account will not be sufficient to
make all payments required by this Agreement, the Trustee shall notify the
Issuers in writing, promptly upon obtaining actual knowledge of such
deficiency, the amount thereof and the reason therefore.  The Trustee shall have no other
responsibility regarding any such deficiency.

 

Section 10.  Temporary Investment. 
Moneys held by the Trustee which are not currently needed to make the
payments required by Section 5 of this Agreement shall be invested as
directed in writing by the Issuers (provided that the maturity date of any such
investments shall not be later than the Redemption Date), and interest earned
which is in excess of amounts needed to effect the redemption described herein
shall be paid over to the Issuers.

 

Section 11.  Termination. 
On the next business day following the Redemption Date, all moneys
remaining in the Redemption Account, if any, after payment of all amounts
payable therefrom as described in Section 5 of this Agreement (or
retention by the Trustee of amounts sufficient to make such payments not
theretofore made), and after

 

3

 

payment of any amounts
owing to the Trustee under the Indenture, shall be paid over to the Issuers
pursuant to Section 4.01 of the Indenture.  Upon the payment of all amounts payable hereunder, this Agreement
and the rights hereby granted shall thereupon cease and terminate; provided,
however, that (a) the provisions of Section 6 (Rights and
Limitations of Liability), Section 12 (Fees and Expenses) and
Section 16 (Indemnity) shall survive the termination of this Agreement and
(b) that any amounts retained by the Trustee pursuant to the first parenthetical
of this Section 11 will be subject to Section 8.06 of the Indenture.

 

Section 12.  Fees and Expenses. 
Without in any way limiting the generality of Section 6(b) of this
Agreement, the Trustee will be entitled to the rights of compensation and
reimbursement of expenses, disbursements and advances set forth in
Article 7 of the Indenture in performing any of its duties under this
Agreement.

 

Section 13.  Amendments.  This
Agreement is made for the benefit of the Issuers and the holders from time to
time of the Securities, and it shall not be amended or repealed without the
written consent of all such Holders and the Trustee.  It is agreed and understood that any such amendments to or
repealing of this Agreement shall not affect the Redemption Account or the
irrevocable nature of the deposit of moneys therein.  Any such amendment must be set forth in a written agreement
supplemental to this Agreement, and the Trustee may conclusively rely upon an
opinion of counsel in form and substance satisfactory to the Trustee in determining
whether to enter into any such agreement supplemental to this Agreement.  Notwithstanding the foregoing, the Issuers
may amend or modify this Agreement without notice to or consent of any Holder
for any purpose set forth in Section 9.01 of the Indenture.

 

Section 14.  Resignation or Removal of Trustee. 
The resignation or removal of the Trustee from its capacity under this
Agreement shall be governed by Section 7.08 of the Indenture, which is
specifically incorporated herein by this reference thereto.

 

Section 15.  Severability; Headings. 
If any one or more of the covenants or agreements provided in this
Agreement on the part of any of the parties hereto to be performed should be
determined by a court of competent jurisdiction to be contrary to law, such
covenant or agreement shall be deemed and construed to be severable from the
remaining covenants and agreements herein contained and shall in no way affect
the validity of the remaining provisions hereof.  All paragraph headings included herein are for convenience of
reference only and shall not affect the interpretation of the provisions
hereof.

 

Section 16.  Indemnity.  Without in
any way limiting the generality of Section 6(b) of this Agreement, the
Trustee will be entitled to the rights of indemnification set forth in
Section 7.07 of the Indenture in performing any of its duties under this
Agreement.

 

Section 17.  Governing Law. 
This Agreement shall be deemed to be a contract made under the laws of
the State of New York, and for all purposes shall be governed by

 

4

 

and construed, enforced
and administered in accordance with the laws of said State, without regard to
conflicts of laws principles thereof.

 

Section 18.  Counterparts. 
This Agreement may be executed in several counterparts, all of which
shall be regarded for all purposes as one original and shall constitute and be
but one and the same instrument.

 

Section 19.  Benefit.  This
Agreement shall be bind upon and inure to the benefit of the parties hereto and
their respective successors and assigns.

 

Section 20.  Notice.  Any notices
hereunder shall be in writing and shall be sent to the following addresses:

 

	
  To Trustee:

  	
  U.S. Bank National Association, as Trustee

  
	
   

  	
  225 Asylum Street, 23rd Floor

  
	
   

  	
  Goodwin Square

  
	
   

  	
  Hartford, Connecticut 06103

  
	
   

  	
  Attn: Corporate Trust Department

  
	
   

  	
  Fax:  860-241-6897

  
	
   

  	
   

  
	
  To the Issuers:

  	
  Eldorado Resorts LLC

  
	
   

  	
  345 North Virginia Street

  
	
   

  	
  Reno, Nevada 89501

  
	
   

  	
  Attention:  Chief Financial
  Officer

  
	
   

  	
  Fax:  775-348-7513

  

 

Notices
to the Trustee shall be deemed to be given when actually received by the
Trustee’s Corporate Trust Department. 
Whenever under the terms hereof the time for giving a notice or
performing an act falls upon a Saturday, Sunday, or banking holiday, such time
shall be extended to the next day on which Trustee is open for business.

 

Section 21.  Entire Agreement. 
This Agreement and the Indenture constitute the entire agreement of the
parties with respect to the subject matter hereof.

 

5

 

IN
WITNESS WHEREOF, the parties hereto have each caused this Redemption Deposit
Agreement to be executed by a duly authorized officer as of the date first
above written.

 

	
   

  	
  ELDORADO
  RESORTS LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Donald L. Carano

  
	
   

  	
   

  	
  Name:  Donald L. Carano

  
	
   

  	
   

  	
  Title:  Chief Executive Officer,

  
	
   

  	
   

  	
    President and Presiding Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Gary L. Carano

  
	
   

  	
   

  	
  Name:  Gary L. Carano

  
	
   

  	
   

  	
  Title:  Corporate Representative of

  
	
   

  	
   

  	
    Recreational Enterprises, Inc., Manager

  
	
   

  	
   

  
	
   

  	
  ELDORADO
  CAPITAL CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Donald L. Carano

  
	
   

  	
   

  	
  Name:  Donald L. Carano

  
	
   

  	
   

  	
  Title:  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Gregg R. Carano

  
	
   

  	
   

  	
  Name:  Gregg R. Carano

  
	
   

  	
   

  	
  Title:  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  U.S.
  BANK NATIONAL ASSOCIATION,

  
	
   

  	
  as
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Michael M. Hopkins

  
	
   

  	
   

  	
  Name:
  Michael M. Hopkins

  
	
   

  	
   

  	
  Title:
  Vice President

  
				

 

ATTACHMENTS:

 

Schedule I  –  Securities Redeemed

Exhibit A  -  Notice of Redemption

 

6

 

SCHEDULE I

 

SECURITIES
REDEEMED

 

I.                                         Securities
Redeemed

 

	
  Series/Tranche

  	
   

  	
  CUSIP

  	
   

  	
  Interest

  Rate(%)

  	
   

  	
  Interest
  Payment

  Dates

  	
   

  	
  Stated

  Maturity

  Date

  	
   

  	
  Principal
  Amount

  ($)

  
	
  10 1/2% Senior

  Subordinated Notes due 2006

  	
   

  	
  284710 AC 4

  	
   

  	
  10.5

  	
   

  	
  15 Feb, 15 Aug

  	
   

  	
  15 Aug 2006

  	
   

  	
  $

  	
  64,249,000

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Total

  	
   

  	
  $

  	
  64,249,000

  

 

II.                                     Principal,
Premium and Interest Payments on Redeemed Securities

 

All
Securities are to be redeemed on May 21, 2004, before any interest payment date
on any series thereof.

 

	
  Series/Tranche

  	
   

  	
  CUSIP

  	
   

  	
  Principal/

  Premium/

  Interest

  	
   

  	
  Amount($)

  
	
  10 1/2% Senior

  Subordinated Notes due 2006

  	
   

  	
  284710 AC 4

  	
   

  	
  Principal

  Premium

  Interest

  	
   

  	
  $

  	
  64,249,000.00

  1,124,357.50  

  1,798,972.00

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Total

  	
   

  	
  $

  	
  67,172,329.50

  

 

1

 

EXHIBIT
A

 

 

	
   

  	
   

  
	
  

  	
  NOTICE OF FULL OPTIONAL REDEMPTION

  
Eldorado Resorts LLC Eldorado Capital Corp.

  
	
   

  	
   

  
	
   

  	
  Senior Sub
  Notes Due 08-15-06

  

 

NOTICE IS
HEREBY GIVEN pursuant
to the terms of the Indenture dated as of July 31, 1996, between Eldorado
Resorts LLC Eldorado Capital Corp., as Issuer, and U.S. Bank N.A., as Trustee
or Agent,  that the bonds listed below
have been selected for Full Redemption on May 21, 2004 (the Redemption Date) at
a price of 101.75% of the principal amount (the Redemption Price) together with
interest accrued to the Redemption Date.

 

	
  *CUSIP

  	
   

  	
  Maturity

  	
   

  	
  Rate

  	
   

  	
  Amount

  	
   

  	
  Price

  	
   

  
	
  284710AC4

  	
   

  	
  08/15/2006

  	
   

  	
  10.50

  	
  %

  	
  $

  	
  64,249,000

  	
   

  	
  101.75

  	
  %

  
											

 

Payment of the Redemption
Price on the Bonds called for redemption will be paid only upon presentation
and surrender thereof in the following manner:

 

	
  If by
  Mail:(REGISTERED BONDS)

  	
   

  	
  If by
  Mail:(BEARER BONDS)

  	
   

  	
  If by
  Hand or Overnight Mail:

  
	
  U.S. Bank

  	
   

  	
  U.S. Bank

  	
   

  	
  U.S. Bank

  
	
  Corporate
  Trust Services

  	
   

  	
  Corporate
  Trust Services

  	
   

  	
  Corporate
  Trust Services

  
	
  P.O. Box 64111

  	
   

  	
  P.O. Box 64452

  	
   

  	
  60 Livingston Avenue

  
	
  St. Paul, MN 55164-0111

  	
   

  	
  St. Paul, MN 55164-0452

  	
   

  	
  1st Fl - Bond Drop Window

  
	
   

  	
   

  	
   

  	
   

  	
  St. Paul, MN 55107

  

 

1-800-934-6802

 

Bondholders presenting their
bonds in person for same day payment must
surrender their bond(s) by 1:00 P.M. on the Redemption Date and a check
will be available for pick up after 2:00 P.M.. 
Checks not picked up by 4:30 P.M. will be mailed out to the bondholder
via first class mail.  If payment of the
Redemption Price is to be made to the registered owner of the Bond, you are not
required to endorse the Bond to collect the Redemption Price.

 

Interest on the principal
amount designated to be redeemed shall cease to accrue on and after the
Redemption Date.

 

REQUIREMENT INFORMATION

 

For a list of redemption
requirements please visit our website at www.usbank.com/corporatetrust
and click on the “Bondholder
Information” link.

 

IMPORTANT NOTICE

 

Under the Jobs and Growth
Tax Relief Reconciliation Act of 2003 (the “Act”), 28% will be withheld if tax
identification number is not properly certified.

 

*The
Trustee shall not be held responsible for the selection or use of the CUSIP
number, nor is any representation made as to its correctness indicated in the
Redemption Notice.  It is included
solely for the convenience of the Holders.

 

	
   

  	
  By: U.S. Bank National Association

  
	
   

  	
  as Trustee or Agent

  
	
   

  
	
  Dated: April 20, 2004

  

 

 

Code:820439@4/19/2004 2:20:17 PM ns

 

2EXHIBIT
10.98

 

SEVENTH AMENDMENT TO

GAS SALES AGREEMENT

 

 

This Seventh Amendment to
Gas Sales Agreement (“Amendment”) is executed as of March 31, 2004, by
Tipperary Oil & Gas (Australia) Pty Ltd (ACN 077 536 871) of GPO Box 1100,
Brisbane, Queensland, Australia 4001 (“Seller”), and QUEENSLAND FERTILISER
ASSETS LIMITED (ACN 011 062 294) of 76 Arthur Street, Roma, Queensland,
Australia (“Buyer”).

 

WITNESSETH: 

 

A. The Seller and Buyer have previously delivered Gas Sales Agreement
dated September 28, 2001, as amended by Amendment to Gas Sales Agreement
dated as of May 30, 2002, Second Amendment to Gas Sale Agreement dated as of
September 1, 2002, Third Amendment to Gas Sale Agreement dated as of
January 1, 2003, Fourth Amendment to Gas Sale Agreement dated as of
March 31, 2003, Fifth Amendment to Gas Sale Agreement dated as of
June 30, 2003 and Sixth Amendment to Gas Sale Contract dated as of
December 31, 2003 (collectively, the “Original Agreement”) governing the
sale and supply of Gas to Buyer subject to the terms and conditions set forth
therein including, without limitation, the Seller and the Buyer obtaining
necessary financing commitments, under terms reasonably acceptable to each of
them, by March 31, 2004 for (1) Buyer to construct and commission the Plant
and the Pipeline between March 31, 2004 and the Commencement Date and (2)
Seller to drill and complete the number of wells, and install laterals and
compressors, as Seller reasonably deems necessary between March 31, 2004
and the Commencement Date to deliver the ACQ to the Delivery Point and meet
Pipeline Pressure requirements; and

 

B. The Seller and Buyer have agreed, subject to the terms and
conditions set forth below, to amend the Original Agreement to (1) extend the
date for Seller and Buyer to obtain their respective financing commitments to
September 30, 2004 and (2)  otherwise modify the  Original Agreement as set
forth herein.

 

NOW, THEREFORE, for a sufficient consideration received by each, the
Seller and Buyer agree to amend the Original Agreement as follows.

 

1.              Definitions.
The definition of Commencement Date in the Original Agreement is hereby
amended and replaced in its entirety as set forth below.

 

“Commencement Date” means the later of:

 

(a)          1 April 2007; or

 

1

 

(b)         the date after 1 April 2007 on which the
Buyer takes the first delivery of Gas from the Seller under this Agreement
pursuant to the notice given under Clause 2.4;

 

provided that, if
Buyer has not previously taken the first delivery of Gas from the Seller under
Subparagraph (b) above, the Commencement Date shall be deemed to occur on 1
August 2007.”

 

2.              Sale
and Purchase. Section 2.1, the preamble of Section 2.2
and Section 2.4 of the Original Agreement, each stating conditions
precedent to Seller’s and Buyer’s obligations under the Original Agreement, are
hereby amended and replaced in their entirety as set forth below.

 

“2.1                           The obligations of the
Parties under the Agreement, other than their obligations under Clauses 17,
20 and 24, are subject to and do not become binding unless:

 

(a)          Buyer: (i) establishes and maintains its
creditworthiness to the reasonable satisfaction of the Seller, and (ii) the
Buyer has in place the necessary financing commitments, under terms reasonably
acceptable to Buyer and Seller, that will foreseeably allow Buyer to construct
and commission the Plant and the Pipeline between September 30, 2004 and
the Commencement Date. If these conditions precedent are not satisfied by
September 30, 2004, then this Agreement will terminate (except for Clauses
17, 20 and 24 and the enforcement of any right or claim which arises
thereunder), unless the Seller agrees in writing to extend the time required to
meet these conditions.

 

(b)         Seller has in place the necessary
financing commitments, under terms reasonably acceptable to Buyer and Seller,
that will foreseeably allow Seller to drill and complete the number of wells,
to install laterals and compressors, as Seller reasonably deems necessary
between September 30, 2004 and the Commencement Date to deliver the ACQ to
the Delivery Point and meet Pipeline Pressure requirements.  If these conditions precedent are not
satisfied by September 30, 2004, then this Agreement will terminate (except
for Clauses 17, 20 and 24 and the enforcement of any right of claim
which arises thereunder), unless Buyer agrees in writing to extend the time
required to meet this condition.”

 

“2.2                           In addition to the
conditions in Clause 2.1, Buyer shall begin actual construction of the
Plant by December 1, 2004, and diligently prosecute actual construction of
the Plant and the Pipeline thereafter in an orderly and prudent manner through
and until the Commencement Date.”

 

2

 

“2.4                           The Buyer must deliver
written notice to the Seller not less that forty-five (45) Business Days’
before the Day on which the Buyer intends to take the first delivery of Gas
from the Seller under this Agreement; provided that Seller shall have no
obligation to supply Gas to Buyer before 1 January 2007.”

 

3.     Authority, Effect and Governing Law.
Section 20.1 (a), containing a representation and warranty
regarding Seller’s and Buyer’s corporate proceedings with respect to the
Original Agreement, is hereby amended and replaced in its entirety as set forth
below.

 

“20.1                     Each Party represents and warrants
to the other Party now and at all times during the Term:

 

(a)                                  It is a company duly incorporated under
the laws of Queensland and has the power and authority to enter into this
Agreement and will have undertaken and complied with the necessary corporate
proceedings to ensure this Agreement is enforceable and binding on it or before
September 30, 2004 (unless otherwise terminated on or before that date);”

 

4.     Capitalized Terms.
All capitalized terms shall have the meaning assigned to them in the Original
Agreement, except as added, amended or otherwise restated herein or unless the
context clearly requires otherwise. In addition: references in the Original
Agreement to the “Agreement,”  “hereof”,
“herein” and words of similar import shall be deemed to be references to the
Original Agreement as amended hereby.

 

5.     Representations.  The Seller and Buyer respectively represent
and warrant that all of the representations and warranties contained in the Original
Agreement (and any certificates and documents executed pursuant thereto or
contemplated thereby) are true and correct in all material respects on and as
of the effective date of this Amendment.

 

6.     Conflicts and Continuation.
In the event that this Amendment conflicts or is inconsistent with the Original
Agreement, this Amendment shall control. Except as specifically amended herein,
all of the terms and conditions of the Original Agreement (and any certificates
and documents executed pursuant thereto or contemplated thereby) shall remain
in full force and effect in accordance with their respective terms.

 

7.     Severability.  In the event any one or more provisions
contained in the Original Agreement or this Amendment should be held to be
invalid, illegal or unenforceable in any respect, the validity, enforceability
and legality of the remaining provisions contained herein and therein shall not
be affected in any way or impaired thereby and shall be enforceable in
accordance with their respective terms.

 

3

 

8.     Acknowledgment.  The Seller and Buyer respectively ratify and
confirm that the Original Agreement (and any certificates and documents
executed pursuant thereto or contemplated thereby) remain in full force and
effect in accordance with their respective terms, except as amended hereby. The
representatives of the Seller and Buyer executing this Amendment each represent
and warrant to the others that they are duly appointed agents or officers of
the party to the Original Agreement as designated in the signature lines below,
they have full power and authority to execute and deliver this Amendment on
behalf of the party to the Original Agreement as designated below, they have
obtained all corporate or other authorizations as may be applicable to each of
them.

 

 

EXECUTED as an agreement.

 

	
  THE COMMON SEAL of TIPPERARY OIL & GAS (Australia)

  	
  )

  
	
  Pty LTD (ACN 077 536 871 was duly affixed to this document in

  	
  )

  
	
  accordance with its articles of association in the presence of:

  	
  )

  

 

 

	
  /s/ Richard A. Barber

  	
   

  	
  /s/ David L. Bradshaw

  
	
  Signature of Secretary

  	
   

  	
  Signature of Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Richard A. Barber

  	
   

  	
  David L. Bradshaw

  
	
  Name of Secretary – please print

  	
   

  	
  Name of Director – please print

  

 

 

[Remainder of this page intentionally left
blank]

 

4

 

	
  THE COMMON SEAL OF QUEENSLAND

  	
  )

  
	
  FERTILIZER ASSETS LIMITED (ACN 011 062 294)

  	
  )

  
	
  was duly affixed to this document in accordance

  	
  )

  
	
  with its Articles of Association in the presence of:

  	
  )

  

 

 

	
  /s/ H. J. K. Howes

  	
   

  	
  /s/ I. P. Kennedy

  
	
  Signature of Secretary

  	
   

  	
  Signature of Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  H. J. K. Howes

  	
   

  	
  I. P. Kennedy

  
	
  Name of Secretary – please print

  	
   

  	
  Name of Director – please print

  

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}]]