Document:

EXHIBIT 10.1

 

FIRST AMENDMENT

TO

SECOND AMENDED AND
RESTATED COMBINED CREDIT AGREEMENTS

 

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED
COMBINED CREDIT AGREEMENTS, dated as of May 9, 2008 (the “Amendment”), among FOREST OIL
CORPORATION, a New York corporation (the “U.S.
Borrower”), CANADIAN FOREST OIL LTD.
and each other subsidiary of Canadian Forest which becomes a “Borrower” (as
defined in the Canadian Credit Agreement) under the Canadian Credit Agreement
(the “Canadian Borrowers”), each of the
lenders that is a signatory to, or which becomes a signatory to, the U.S.
Credit Agreement (together with its successors and assigns, the “U.S. Lenders”), each of the lenders that is a
signatory to, or which becomes a signatory to, the Canadian Credit Agreement
(together with its successors and assigns, the “Canadian
Lenders”, and together with the U.S. Lenders, the “Combined Lenders”), JPMORGAN
CHASE BANK, N.A., TORONTO BRANCH, as Canadian Administrative Agent
and JPMORGAN CHASE BANK, N.A., as Global Administrative Agent (in such capacity,
together with its successors in such capacity, the “Global
Administrative Agent”), and the other Agents party thereto.

 

W
I  T
N  E
S  S
E  T
H:

 

1.                                       The
U.S. Borrower, Global Administrative Agent, the Co-Global Syndication Agents,
the Co-U.S. Documentation Agents, and the U.S. Lenders are parties to that
certain Second Amended and Restated Credit Agreement, dated as of June 6,
2007 (the “U.S. Credit Agreement”),
pursuant to which the U.S. Lenders agreed to make loans to and extensions of
credit on behalf of the U.S. Borrower.

 

2.                                       The
Canadian Borrowers, Global Administrative Agent, the Canadian Administrative
Agent, the Co-Global Syndication Agents, the Co-Canadian Documentation Agents,
and the Canadian Lenders are parties to that certain Second Amended and
Restated Credit Agreement, dated as of June 6, 2007 (the “Canadian Credit Agreement”, and together with
the U.S. Credit Agreement, the “Combined Credit
Agreements”), pursuant to which the Canadian Lenders agreed to make
loans to and extensions of credit on behalf of the Canadian Borrowers.

 

3.                                       The
parties to the Combined Credit Agreements intend to amend the Combined Credit
Agreements as follows:

 

NOW, THEREFORE, in consideration of the premises and
the mutual covenants herein contained, the parties hereto agree as follows:

 

I.                                         Amendments to
U.S. Credit Agreement.

 

A.                                   Section 1.1
of the U.S. Credit Agreement hereby is amended by amending and restating the
following definitions of “Co-Canadian Documentation Agents”, “Co-Global
Syndication Agents”, and “Co-U.S. Documentation Agents” in their
entirety to read as follows:

 

 

“                                          “Co-Canadian Documentation Agents”
means Bank of Montreal and Citibank, N.A., Canadian Branch, each in its capacity as co-Canadian documentation
agent for the Canadian Lenders, and any successor thereto.”

 

“                                          “Co-Global Syndication
Agents” means Bank of America, N.A. and Toronto Dominion (Texas)
LLC, each in
its capacity as co-global syndication agent for the Lenders hereunder, and any
successor thereto.”

 

“                                          “Co-U.S.
Documentation Agents” means BNP Paribas, Credit Suisse, Cayman
Islands Branch, Deutsche Bank Securities Inc., Wells Fargo Bank, N.A. and The
Bank of Nova Scotia, each in its capacity as co-U.S. documentation agent for
the Lenders hereunder, and any successor thereto.”

 

B.                                     Section 5.12
of the U.S. Credit Agreement hereby is amended and restated in its entirety to
read as follows:

 

“If any additional Subsidiary of Borrower is formed or acquired after
the Global Effective Date, Borrower will notify the Global Administrative Agent
and the Lenders thereof and whether such Subsidiary is an Unrestricted
Subsidiary or a Restricted Subsidiary. 
If any Restricted Subsidiary as of the date of its formation, its
acquisition or at any time thereafter has a total asset value in excess of
U.S.$25,000,000 (or its equivalent in other currencies) and has incurred
Indebtedness or Guaranteed Indebtedness in excess of U.S.$5,000,000 (or its
equivalent in other currencies) in favor of any Person other than a Loan Party,
then Borrower will notify the Global Administrative Agent and the Lenders
thereof and cause such Subsidiary (unless such Subsidiary is a Foreign
Subsidiary) to (a) execute a Subsidiary Guaranty within 30 days after such
Subsidiary is formed or acquired or it is determined to have the requisite
total asset value and Indebtedness owed to third parties and (b) if the
Issuer Rating of Borrower issued by both S&P and Moody’s is equal to or
lower than “BB+” or “Ba1,” respectively, (i) execute a Mortgage (to the
extent necessary to comply with Section 5.15)
for the ratable benefit of each Lender (other than any such Lender having
notified the Global Administrative Agent that it may not legally benefit from
same) and promptly take such actions to create and perfect Liens on such
Subsidiary’s assets to secure the Obligations as the Global Administrative
Agent shall reasonably request, (ii) pledge or cause to be pledged all
Equity Interests in such Restricted Subsidiary pursuant to a Pledge Agreement
within 30 days after such Subsidiary is formed or acquired (except that, if
such Subsidiary is a Foreign Subsidiary, Equity Interests of such Subsidiary to
be pledged pursuant to such Pledge Agreement may be limited to 65% of the total
combined voting power of all classes of voting Equity Interests of such
Subsidiary) and (iii) cause any and all such Persons (except Borrower)
pledging such Equity Interests pursuant to a Pledge Agreement to execute a
Subsidiary Guaranty but only if such Person has not heretofore executed a
Subsidiary Guaranty.”

 

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C.                                     Section 5.15(c) of
the U.S. Credit Agreement hereby is amended and restated in its entirety to
read as follows:

 

“If at any time the Global Administrative Agent shall have received
currently effective, duly executed Loan Documents encumbering Oil and Gas
Properties of Borrower and its Restricted Subsidiaries constituting (i) less
than 75% of the Present Value of Oil and Gas Properties of Borrower and its
Restricted Subsidiaries or (ii) Oil and Gas Properties of Borrower and its
Restricted Subsidiaries located in the United States and subject to a mortgage
Lien having a Present Value that is less than 1.875 times the amount of the
Allocated U.S. Borrowing Base then in effect, then Borrower will notify the
Global Administrative Agent and the Lenders thereof and will, and/or will cause
its Restricted Subsidiaries to, execute and deliver to the Global
Administrative Agent for the ratable benefit of each Lender (other than any
such Lender having notified the Global Administrative Agent that it may not
legally benefit from a given Mortgage) supplemental or additional Security
Documents, in form and substance reasonably satisfactory to the Global
Administrative Agent and its counsel (including, but not limited to, (A) in
the case of Restricted Subsidiaries whose Oil and Gas Properties are to be
mortgaged pursuant to this Section 5.15(c), (1) a Subsidiary
Guaranty, (2) a pledge of all Equity Interests in such Restricted
Subsidiary pursuant to a Pledge Agreement and (3) a Mortgage and (B) in
the case of Borrower, a Mortgage), covering additional Oil and Gas Properties
of Borrower and its Restricted Subsidiaries not then encumbered by any Combined
Loan Documents such that the Global Administrative Agent shall have received
currently effective duly-executed Security Documents (A) encumbering Oil
and Gas Properties of Borrower and its Restricted Subsidiaries constituting 75%
or more of the Present Value of Oil and Gas Properties of Borrower and its
Restricted Subsidiaries, and (B) encumbering Oil and Gas Properties of
Borrower and its Restricted Subsidiaries located in the United States and
subject to a mortgage Lien having a Present Value constituting at least 1.875
times the Allocated U.S. Borrowing Base; provided, however, that
in the event of a failure to comply with the terms and provisions of this Section 5.15(c),
the Borrower will, and/or will cause its Restricted Subsidiaries to, cure such
default within 90 days following the occurrence thereof.”

 

D.                                    Section 7.1(a)(ii) of
the U.S. Credit Agreement hereby is amended and restated in its entirety to
read as follows:

 

“                                          (ii)                                  Senior
Notes in an aggregate principal amount not to exceed at any one time
U.S.$2,250,000,000;”.

 

E.                                      The
first paragraph of Article IX of the U.S. Credit Agreement hereby
is amended and restated in its entirety to read as follows:

 

“Each of the Lenders, the Issuing Banks and the other
Agents hereby irrevocably appoints JPMorgan Chase Bank, N.A. as the Global
Administrative Agent, Bank of America, N.A. and Toronto Dominion (Texas) LLC,
as the Co-Global Syndication Agents, and BNP Paribas, Credit Suisse, Cayman
Islands Branch, 

 

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Deutsche Bank Securities Inc., Wells Fargo Bank, N.A.
and The Bank of Nova Scotia, as the Co-U.S. Documentation Agents, and authorizes
each such Agent to take such actions on its behalf and to exercise such powers
as are delegated to such Agent by the terms of the Loan Documents, together
with such actions and powers as are reasonably incidental thereto; provided,
however, that none of the Co-Global Syndication Agents or Co-U.S.
Documentation Agents shall have or be deemed to have any liability hereunder or
any duties or obligations under the Loan Documents.”

 

F.                                      The
U.S. Credit Agreement hereby is amended by replacing Schedule 2.1 to the
U.S. Credit Agreement with Schedule 2.1 - US to this Amendment.

 

II.                                     Amendments
to the Canadian Credit Agreement.

 

A.                                   Section 1.1
of the Canadian Credit Agreement hereby is amended by amending and restating
the following definitions of “Co-Canadian Documentation Agents”, “Co-Global
Syndication Agents” and “Co-U.S. Documentation Agents” in their
entirety to read as follows:

 

“                                          “Co-Canadian Documentation Agents”
means Bank of Montreal and Citibank, N.A., Canadian Branch, each in its capacity as co-Canadian documentation
agent for the Canadian Lenders, and any successor thereto.”

 

“                                          “Co-Global Syndication
Agents” means Bank of America, N.A. and Toronto Dominion (Texas)
LLC, each in
its capacity as co-global syndication agent for the Lenders hereunder, and any
successor thereto.”

 

“                                          “Co-U.S.
Documentation Agents” means BNP Paribas, Credit Suisse, Cayman
Islands Branch, Deutsche Bank Securities Inc., Wells Fargo Bank, N.A. and The
Bank of Nova Scotia, each in its capacity as co-U.S. documentation agent for
the Lenders hereunder, and any successor thereto.”

 

B.                                     The
first paragraph of Article IX of the Canadian Credit Agreement
hereby is amended and restated in its entirety to read as follows:

 

“Each of the Lenders, the Issuing Banks and the other Agents hereby
irrevocably appoints JPMorgan Chase Bank, N.A., as the Global Administrative
Agent, JPMorgan Chase Bank, N.A., Toronto Branch, as the Canadian
Administrative Agent, Bank of America, N.A. and Toronto Dominion (Texas) LLC,
as the Co-Global Syndication Agents, and Bank of Montreal and Citibank, N.A.,
Canadian Branch, as the Co-Canadian Documentation Agents, and authorizes each
such Agent to take such actions on its behalf and to exercise such powers as
are delegated to such Agent by the terms of the Loan Documents, together with
such actions and powers as are reasonably incidental thereto; provided, however,
that none of the Co-Global Syndication Agents or Co-Canadian Documentation
Agents shall have or be deemed to have any liability hereunder or any duties or
obligations under the Loan Documents.”

 

C.                                     The
Canadian Credit Agreement hereby is amended by replacing Schedule 2.1 to
the Canadian Credit Agreement with Schedule 2.1 - Canada to this Amendment.

 

4

 

III.                                 Reallocation
of Global Borrowing Base.  By
execution of this Amendment, each of the Global Administrative Agent, the
Combined Lenders, the U.S. Borrower and the Canadian Borrowers agree that, as
of the Closing Date (as hereinafter defined) but subject to Section 2.7
of the U.S. Credit Agreement in all respects, the Global Borrowing Base will be
set at U.S.$1,800,000,000 until the then scheduled redetermination as of November 1,
2008.  As of the Closing Date, the
Allocated U.S. Borrowing Base shall be set at U.S.$1,650,000,000 and the
Allocated Canadian Borrowing Base shall be set at U.S.$150,000,000.

 

IV.                                Rearrangement
and Increase of Existing Loans. 
Upon the effectiveness of this Amendment:

 

A.                                   All
of the Combined Commitments and outstanding Combined Obligations under the
Combined Credit Agreements as of the date of such effectiveness shall hereby be
restructured, rearranged, renewed, extended and continued under the applicable
Combined Credit Agreement (as amended hereby) and all Combined Loans and
Letters of Credit outstanding under the applicable Combined Credit Agreement as
of the date of such effectiveness shall hereby become Combined Loans and
Letters of Credit outstanding under the applicable Combined Credit Agreement
(as amended hereby); provided that, with respect to individual Combined
Lenders who are not changing their Commitment under the U.S. Credit Agreement
as a result of this Amendment (the “Unchanged U.S. Lenders”), the outstanding
Loans of the Unchanged U.S. Lenders shall not be restructured or rearranged in
any manner and therefore such Unchanged U.S. Lenders will not receive any
payments pursuant to Section 2.16 of the U.S. Credit Agreement with
respect to the reallocation of Combined Commitments implemented through this
Amendment.

 

B.                                     In
connection herewith, the Combined Lenders party to the Combined Credit
Agreements prior to the effectiveness of this Amendment (the “Existing
Lenders”) hereby sell, assign, transfer and convey, and the Combined
Lenders hereby purchase and accept, so much of the aggregate Combined
Commitments under, Combined Loans outstanding under, and participations in
Letters of Credit issued pursuant to, the Combined Credit Agreements such that
the Combined Commitment of each Combined Lender shall be as set forth on Schedule
2.1 to each of the Combined Credit Agreements (as amended hereby); provided
that, with respect to the Unchanged U.S. Lenders, the outstanding Loans of the
Unchanged U.S. Lenders shall not be restructured or rearranged in any manner
and therefore such Unchanged U.S. Lenders will not receive any payments
pursuant to Section 2.16 of the U.S. Credit Agreement with respect to the
reallocation of Combined Commitments implemented through this Amendment.  The foregoing assignments, transfers and
conveyances are without recourse to the Existing Lenders and without any
warranties whatsoever by any Agent, any Issuing Bank or any Existing Lender as
to title, enforceability, collectibility, documentation or freedom from liens
or encumbrances, in whole or in part, other than the warranty of each Existing
Lender that it has not previously sold, transferred, conveyed or encumbered
such interests.

 

C.                                     In
connection with the potential need to prepay various Loans of Combined Lenders
who are not Unchanged U.S. Lenders (the “Transferring Lenders”) in order
to implement the provisions of this Section IV in connection with
the effectiveness of this Amendment, each of the Combined Lenders hereby agrees
to waive the “pro rata” allocation of payments requirements set forth in Section 2.18
of both Combined Credit Agreements.

 

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V.                                    Effectiveness.  This Amendment shall become effective as of May 9,
2008 (the “Closing Date”) when the Global Administrative Agent shall
have received:

 

A.                                   Counterparts
hereof duly executed by the U.S. Borrower, the Global Administrative Agent, the
Canadian Administrative Agent, and the Borrowing Base Required Lenders (or, in
the case of any party as to which an executed counterpart shall not have been
received, telegraphic, telex, or other written confirmation from such party of
execution of a counterpart hereof by such party);

 

B.                                     Any Loan Document requested by a Lender
pursuant to Section 2.9(e) of the U.S. Credit Agreement;

 

C.                                     A
certificate dated as of the date of this Amendment of an Authorized Officer of
the U.S. Borrower and the Canadian Borrower certifying that attached to such
certificate is a true and complete copy of resolutions duly adopted by the
board of directors or management committee of such party, as applicable,
authorizing the execution, delivery and performance of this Amendment and the
effectuation of the transactions contemplated by the Amendment; and

 

D.                                    Payment
of any fees or compensation then due and owing to any Combined Lender pursuant
to the terms of the Combined Credit Agreement, including, without limitation,
any break funding compensation due in connection with Section 2.16 of
either Combined Credit Agreement.

 

VI.                                Reaffirmation
of Representations and Warranties.  To induce the Borrowing Base Required
Lenders, the Global Administrative Agent and the Canadian Administrative Agent
to enter into this Amendment, the U.S. Borrower hereby reaffirms, as of the
date hereof, the following:

 

A.                                   The
representations and warranties of each Loan Party (as such term is defined in
the U.S. Credit Agreement and the Canadian Credit Agreement, collectively, the “Combined
Loan Parties”) set forth in the Combined Loan Documents to which it is a party
are true and correct on and as of the date hereof (or, if stated to have been
made expressly as of an earlier date, were true and correct in all material
respects as of such date).

 

B.                                     Each
of the U.S. Borrower and its Restricted Subsidiaries is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
organization, has all requisite power and authority to carry on its business as
now conducted and, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse
Effect, is qualified to do business in, and is in good standing in, every
jurisdiction where such qualification is required.

 

C.                                     The
execution, delivery and performance by U.S. Borrower and the Canadian Borrowers
of this Amendment are within U.S. Borrower’s and the Canadian Borrowers’
corporate powers, and have been duly authorized by all necessary corporate
action.  This Amendment has been duly
executed and delivered by U.S. Borrower and the Canadian Borrowers and, when
duly executed and delivered by the other parties hereto, will constitute, a
legal, valid and binding obligation of U.S. Borrower and the Canadian
Borrowers, enforceable in 

 

6

 

accordance with its
terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in
equity or at law.

 

D.                                    The
execution, delivery and performance by the U.S. Borrower and the Canadian
Borrowers of this Amendment (i) do not require any Governmental Approval
or third party approvals, except such as have been obtained or made and are in
full force and effect, (ii) will not violate any applicable Governmental Rule or
the Organic Documents of U.S. Borrower and the Canadian Borrowers or any order
of any Governmental Authority, (iii) will not violate or result in a
default under any indenture, agreement or other instrument binding upon U.S.
Borrower or the Canadian Borrowers or either of their assets, or give rise to a
right thereunder to require any payment to be made by U.S. Borrower or the
Canadian Borrowers, and (iv) will not result in the creation or imposition
of any Lien on any asset of U.S. Borrower or the Canadian Borrowers.

 

E.                                      No
Default under the Combined Loan Documents has occurred and is continuing and
the U.S. Borrower is in compliance with the financial covenants set forth in Article VI of the U.S. Credit Agreement.

 

F.                                      No
event or events have occurred which individually or in the aggregate could
reasonably be expected to have a Material Adverse Effect.

 

VII.                          Defined Terms.  Except as amended hereby, terms used herein
when defined in the U.S. Credit Agreement shall have the same meanings herein
unless the context otherwise requires.

 

VIII.                      Reaffirmation
of Combined Credit Agreements.  This Amendment shall be deemed to be an
amendment to the Combined Credit Agreements, and the Combined Credit
Agreements, as amended hereby, are hereby ratified, approved and confirmed in
each and every respect.  All references
to the Combined Credit Agreements herein and in any other document, instrument,
agreement or writing shall hereafter be deemed to refer to the Combined Credit
Agreements as amended hereby.

 

IX.                                Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK.

 

X.                                    Severability
of Provisions. Any provision of this Amendment held to be invalid, illegal
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such invalidity, illegality or unenforceability
without affecting the validity, legality and enforceability of the remaining
provisions hereof; and the invalidity of a particular provision in a particular
jurisdiction shall not invalidate such provision in any other jurisdiction.

 

XI.                                Counterparts. This
Amendment may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of
which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a
signature page of this Amendment by telecopy shall be effective as
delivery of a manually executed counterpart of this Amendment.

 

7

 

XII.                            Headings.  Article and section headings used herein
are for convenience of reference only, are not part of this Amendment and shall
not affect the construction of, or be taken into consideration in interpreting,
this Amendment.

 

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

 

XIV.                       No Oral
Agreements.  THIS AMENDMENT, THE
COMBINED CREDIT AGREEMENTS, AS AMENDED HEREBY, AND THE OTHER COMBINED LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.

 

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

[SIGNATURES
BEGIN ON FOLLOWING PAGE]

 

8

 

IN WITNESS WHEREOF, the U.S. Borrower, the Canadian Borrower, the
Combined undersigned Lenders, the Global Administrative Agent, and the other “agents”
under the Combined Credit Agreements have executed this Amendment as of the
date first above written.

 

	
   

  	
  U.S. BORROWER

  
	
   

  	
   

  
	
   

  	
  FOREST OIL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Michael Kennedy

  
	
   

  	
  Name:

  	
  Michael Kennedy

  
	
   

  	
  Title:

  	
  Vice President, Finance and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CANADIAN BORROWER

  
	
   

  	
   

  	
   

  
	
   

  	
  CANADIAN FOREST OIL LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Cyrus D. Marter IV

  
	
   

  	
  Name:

  	
  Cyrus D. Marter IV

  
	
   

  	
  Title:

  	
  Vice President and Secretary

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

1

 

AGENTS AND COMBINED

LENDERS

 

JPMORGAN CHASE BANK, N.A., as

Global Administrative Agent and as a U.S.

Lender

 

 

	
   

  	
  By: 

  	
        /s/ J.
  Scott Fowler

  
	
   

  	
  Name:

  	
  J. Scott Fowler

  
	
   

  	
  Title:

  	
  Senior Vice President

  
				

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

2

 

BANK OF AMERICA, N.A., as a Co-

Global Syndication Agent and as a U.S.

Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Ronald E. McKaig

  
	
   

  	
  Name:

  	
  Ronald E. McKaig

  
	
   

  	
  Title:

  	
  Senior Vice President

  

 

[Signature Page to
Forest Oil

Corporation First Amendment]

 

3

 

CITIBANK, N.A., as a
U.S. Lender

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ Todd J. Mogil

  
	
   

  	
  Name:

  	
  Todd J. Mogil

  
	
   

  	
  Title:

  	
  Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

4

 

BNP
PARIBAS, as a Co-U.S.

Documentation
Agent and as a U.S.

Lender

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ David Dodd

  
	
   

  	
  Name:

  	
  David Dodd

  
	
   

  	
  Title:

  	
  Managing Director

  

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ Robert Long

  
	
   

  	
  Name:

  	
  Robert Long

  
	
   

  	
  Title:

  	
  Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

5

 

BMO CAPITAL MARKETS

FINANCING, INC., as a U.S. Lender

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ James V. Ducote

  
	
   

  	
  Name:

  	
  James V. Ducote

  
	
   

  	
  Title:

  	
  Director

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

6

 

CREDIT SUISSE, CAYMANS

ISLANDS BRANCH, as a
Co-U.S.

Documentation Agent and as a U.S.

Lender

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ Doreen Barr

  
	
   

  	
  Name:

  	
  Doreen Barr

  
	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ Morenikeji Ajayi

  
	
   

  	
  Name:

  	
  Morenikeji Ajayi

  
	
   

  	
  Title:

  	
  Associate

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

7

 

DEUTSCHE BANK
SECURITIES

INC., as a Co-U.S.
Documentation Agent

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ David E. Sisler

  
	
   

  	
  Name:

  	
  David E. Sisler

  
	
   

  	
  Title:

  	
  Director

  

 

 

	
   

  	
  By: 

  	
   

  	
  /s/ Robert M. Wood, Jr.

  
	
   

  	
  Name:

  	
  Robert M. Wood, Jr.

  
	
   

  	
  Title:

  	
  Director

  

 

 

DEUTSCHE
BANK AG NEW YORK

BRANCH, as a U.S.
Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ David J. Bell

  
	
   

  	
  Name:

  	
  David J. Bell

  
	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Dusan Lazarov

  
	
   

  	
  Name:

  	
  Dusan Lazarov

  
	
   

  	
  Title:

  	
  Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

8

 

U.S. BANK NATIONAL

ASSOCIATION, as a U.S. Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Daria Mahoney

  
	
   

  	
  Name:

  	
  Daria Mahoney

  
	
   

  	
  Title:

  	
  Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

9

 

THE
BANK OF NOVA SCOTIA, as a

Co-U.S. Documentation Agent and as a

U.S. Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ David Mills

  
	
   

  	
  Name:

  	
  David Mills

  
	
   

  	
  Title:

  	
  Director

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

10

 

FORTIS CAPITAL CORP.,
as a U.S.

Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ David Montgomery

  
	
   

  	
  Name:

  	
  David Montgomery

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Darrell Holley

  
	
   

  	
  Name:

  	
  Darrell Holley

  
	
   

  	
  Title:

  	
  Managing Director

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

11

 

BANK
OF SCOTLAND plc, as a U.S.

Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Karen Weich

  
	
   

  	
  Name:

  	
  Karen Weich

  
	
   

  	
  Title:

  	
  Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

12

 

ABN
AMRO BANK N.V.,  as a U.S.

Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Scott Donaldson

  
	
   

  	
  Name:

  	
  Scott Donaldson

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Todd Vaubel

  
	
   

  	
  Name:

  	
  Todd Vaubel

  
	
   

  	
  Title:

  	
  Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

13

 

UBS
LOAN FINANCE LLC,
as a U.S.

Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ David B. Julie

  
	
   

  	
  Name:

  	
  David B. Julie

  
	
   

  	
  Title:

  	
  Associate Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Irja R. Otsa

  
	
   

  	
  Name:

  	
  Irja R. Otsa

  
	
   

  	
  Title:

  	
  Associate Director

  

 

[Signature Page to
Forest Oil

Corporation First Amendment]

 

14

 

COMPASS
BANK, as a U.S. Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Murray E. Brasseux

  
	
   

  	
  Name:

  	
  Murray E. Brasseux

  
	
   

  	
  Title:

  	
  Executive Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

15

 

WELLS FARGO BANK, N.A.,  as
a Co-

U.S. Documentation Agent and as a U.S.

Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Tim Green

  
	
   

  	
  Name:

  	
  Tim Green

  
	
   

  	
  Title:

  	
  Assistant Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

16

 

MIZUHO CORPORATE BANK, LTD,

as a U.S. Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Leon Mo

  
	
   

  	
  Name:

  	
  Leon Mo

  
	
   

  	
  Title:

  	
  Senior Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

17

 

TORONTO DOMINION (TEXAS)

LLC, as a Co-Global
Syndication Agent

and as a U.S. Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Jackie Barrett

  
	
   

  	
  Name:

  	
  Jackie Barrett

  
	
   

  	
  Title:

  	
  Authorized Signatory

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

18

 

BARCLAYS BANK PLC, as
a U.S.

Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Joseph Gyurindak

  
	
   

  	
  Name:

  	
  Joseph Gyurindak

  
	
   

  	
  Title:

  	
  Director

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

19

 

BANK OF OKLAHOMA, N.A., as
a

U.S. Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Michael M. Logan

  
	
   

  	
  Name:

  	
  Michael M. Logan

  
	
   

  	
  Title:

  	
  Senior Vice President

  

 

[Signature Page to
Forest Oil

Corporation First Amendment]

 

20

 

EXPORT
DEVELOPMENT CANADA,

as a U.S. Lender

 

 

	
   

  	
  By:

  	
   

  	
  /s/ Carl Burlock

  
	
   

  	
  Name:

  	
  Carl Burlock

  
	
   

  	
  Title:

  	
  Director, Financing

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Quvnh Nguyen

  
	
   

  	
  Name:

  	
  Quvnh Nguyen

  
	
   

  	
  Title:

  	
  Senior Associate

  

 

[Signature Page to
Forest Oil

Corporation First Amendment]

 

21

 

	
   

  	
  GUARANTY BANK AND TRUST
 COMPANY, as a U.S. Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Gail J. Nofsinger

  
	
   

  	
  Name:

  	
  Gail J. Nofsinger

  
	
   

  	
  Title:

  	
  Senior Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

22

 

	
   

  	
  UNION BANK OF
  CALIFORNIA, N.A.,

  as a U.S. Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Alison Fuqua

  
	
   

  	
  Name:

  	
  Alison Fuqua

  
	
   

  	
  Title:

  	
  Assistant Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

23

 

	
   

  	
  JPMORGAN CHASE BANK, N.A.,
 TORONTO
  BRANCH, as
  Canadian 

  Administrative Agent and as a Canadian

  Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Michael N. Tam

  
	
   

  	
  Name:

  	
  Michael N. Tam

  
	
   

  	
  Title:

  	
  Senior Vice President

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

24

 

	
   

  	
  BANK OF MONTREAL, as a Co-

  Canadian Documentation Agent and as a

  Canadian Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ James V. Ducote

  
	
   

  	
  Name:

  	
  James V. Ducote

  
	
   

  	
  Title:

  	
  Director

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

25

 

	
   

  	
  THE TORONTO-DOMINION BANK,

  as a Canadian Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Jackie Barrett

  
	
   

  	
  Name:

  	
  Jackie Barrett

  
	
   

  	
  Title:

  	
  Authorized Signatory

  

 

[Signature Page to
Forest Oil

Corporation First Amendment]

 

26

 

	
   

  	
  BANK OF AMERICA, N.A., CANADA

  BRANCH, as a Canadian Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Medina Sales de Andrade

  
	
   

  	
  Name:

  	
  Medina
  Sales de Andrade

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

[Signature Page to Forest
Oil

Corporation First Amendment]

 

27

 

	
   

  	
  CITIBANK, N.A., CANADIAN

  BRANCH, as a
  Co-Canadian

  Documentation Agent and as a Canadian

  Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Niyousha Zarinpour

  
	
   

  	
  Name:

  	
  Niyousha Zarinpour

  
	
   

  	
  Title:

  	
  Authorized Signer

  

 

[Signature Page to Forest Oil

Corporation First Amendment]

 

28Exhibit 10.1

 

May 9, 2008

 

VIA TELECOPY

 

Orleans Homebuilders, Inc.

One Greenwood Square

3333 Street Road

Bensalem, Pennsylvania 19020

Attention: Garry P. Herdler,
EVP & CFO

 

Re:                             Amended
and Restated Revolving Credit Loan Agreement dated as of January 24, 2006
by and among Greenwood Financial, Inc. (“Master Borrower”), the entities
identified on Schedule “A” attached hereto (together with the Master Borrower,
the “Borrowers”), Orleans Homebuilders, Inc. (the “Guarantor”, and
together with the Borrowers, the “Obligors”), the Lenders that are parties
hereto (the “Lenders”), and Wachovia Bank, National Association, as Agent for
the Lenders (“Agent”), and amended by a First Amendment to Amended and Restated
Revolving Credit Loan Agreement dated as of November 1, 2006, a Second
Amendment to Amended and Restated Revolving Credit Loan Agreement executed as
of February 7, 2007, a Third Amendment to Amended and Restated Revolving
Credit Loan Agreement executed as of May 8, 2007, a Fourth Amendment to
Amended and Restated Revolving Credit Loan Agreement executed as of September 6,
2007, and a Fifth Amendment to Amended and Restated Revolving Credit Loan
Agreement executed  as of December 21,
2007 (as so amended, the “Agreement”).

 

Dear Mr. Herdler:

 

Please refer to the Agreement.  Capitalized terms not otherwise defined
herein shall have the meanings ascribed to such terms in the Agreement. This
letter shall be referred to as the “Waiver Letter”.

 

Section 1.              Requests by
Obligors.  The Obligors have
informed the Agent and the Lenders that the Guarantor will need to book an
after-tax non-cash valuation allowance in the amount of approximately
$43,500,000 for its deferred tax asset and that such event will cause the
Guarantor and/or the Obligors to be in non-compliance with Section 8.2
[Consolidated Tangible Net Worth], Section 8.3 [Leverage], and 8.5
[Ownership of Land] of the Agreement for the fiscal period ended March 31,
2008 (the “Subject Covenants”). The Obligors have requested that the Agent and
the Lenders waive such non-compliance with the Subject Covenants for a limited
period of time.

 

Section 2.              Limited Waiver.  Subject to the terms and
conditions set forth herein, the Agent and the Lenders waive compliance with
the Subject Covenants, and non-compliance with the Subject Covenants shall not
constitute an Event of Default, at all times from the period from and including
January 1, 2008 through and excluding the earlier of (a) the date of
the occurrence of any other Event of Default (that is, any Event of Default
caused by or resulting from something other than the above stated
non-compliance with one or more of the Subject Covenants) under the Agreement
or under any of the other Loan Documents; and (b) September 16, 2008
(such 

 

 

period being the “Waiver
Period”); provided that if (i) Guarantor’s Consolidated Tangible Net Worth
is on any date during the Waiver Period less than $90,000,000, or (ii) as
of the last day of any Fiscal Quarter during the Waiver Period, Guarantor’s
Leverage Ratio exceeds 5.25 to 1.00, the Waiver Period shall end as of such
date.  If the actual reserve allowance
taken by the Guarantor, as reported in the Guarantor’s filed March 31,
2008 10-Q Statement, is less than $43,500,000, or if the reserve is adjusted
because of legislation or otherwise during the Waiver Period,  then: (x) the Consolidated Tangible Net
Worth covenant set forth in clause (i) above shall be increased on a
dollar-for-dollar basis to account for the difference between $43,500,000 and
the actual reserve allowance amount and (y) the Leverage Ratio covenant
set forth in clause (ii) above shall be decreased by .01 for each $348,000
decrease in the reserve allowance below $43,500,000 (the “Limited Waiver”).  At the end of the Waiver Period, the Limited
Waiver shall terminate and the non-compliance with the Subject Covenants shall,
effective as of the end of the Waiver Period, constitute Events of Default
under Article IX under the Agreement without further notice or an
opportunity to cure.  Section 8.5
[Ownership of Land] of the Agreement shall not be applicable or tested during
the Waiver Period.

 

Section 3.              Re-Appraisals.  During the Waiver Period,
the Obligors will act in good faith and will use their best efforts to work
with the Agent to identify assets in the Borrowing Base for re-appraisal so as
to enable Wachovia to obtain such re-appraisals prior the end of the Waiver
Period; provided however, that any such re-appraisals will not be used in
calculating the Borrowing Base as of, or for any period ending prior to, any
date prior to the end of the Waiver Period.

 

Section 4.              Conditions Precedent.  The Limited Waiver shall
become effective, as of the date hereof and as provided herein, upon (a) the
execution and delivery of this Waiver Letter by the Obligors, the Agent and the
Requisite Lenders, and (b) payment by the Obligors to the Agent on account
of each Lender entitled thereto a fee in an aggregate amount equal to 10 basis
points times each such Lender’s Commitment calculated as of the date hereof,
but such fees shall be payable only to each Lender that has delivered
(including by way of facsimile or electronic mail) its executed signature page to
the attention of Darrell Perry, Director of Leveraged Finance, Wachovia Capital
Markets, LLC, 301 South College Street, NC0737, Charlotte, NC 28288, facsimile
704-383-9519, email darrell.perry@wachovia.com, prior to 5:00 p.m.,
Eastern Daylight Savings Time, on May 9, 2008.

 

Section 5.              Release.  Each of the Obligors, on behalf of itself and any
person or entity claiming by, under or through it, hereby unconditionally
remises, releases and forever discharges the Agent and the Lenders, and their
respective past and present officers, directors, shareholders, agents, parent
corporation, members, subsidiaries, affiliates, trustees, administrators,
attorneys, predecessors, and successors and assigns, of and from any and all
manner of actions, causes of action, suits, debts, dues, accounts, claims,
counterclaims, crossclaims, defenses and/or demands whatsoever, including
claims for contribution and/or indemnity, whether now known or unknown, past or
present, asserted or unasserted, contingent or liquidated, at law or in equity,
or resulting from any assignment, if any, which any of the Obligors ever had,
now have, or may have against the Agent or the Lenders, for or by reason of any
cause, matter or thing whatsoever, arising from the beginning of time to the
date of execution of this Waiver Letter relating to or 

 

2

 

arising from the Agreement, the Loan Documents, and
the lending or any other banking relationship between any of the Obligors and
the Agent and the Lenders.

 

Section 6.              Representations.  Each of the Obligors hereby represents and warrants to
the Agent and the Lenders that the representations and warranties contained in
the Agreement and the other Loan Documents are true and correct in all material
respects on and as of the date hereof (after giving effect to this Limited
Waiver) as if made on and as of the date hereof, except where such representations
and warranties expressly relate to an earlier date in which case such
representations and warranties were true and correct in all material respects
as of such earlier date and except for changes therein which have been
disclosed to Agent in writing.

 

Section 7.              No Impairment.  Except as set forth in Section 2
above, nothing contained in this Waiver Letter shall serve as a waiver of any
right of the Agent or the Lenders, a waiver or cure of any defaults under the
Agreement of the other Loan Documents, a modification or novation of the
Obligations or the documentation therefor, or an agreement or commitment by the
Agent or the Lenders to extend or otherwise modify the Obligations.

 

Section 8.              Termination of Limited Waiver.  Failure of any of the Obligors to satisfy any of the
terms or conditions in this Waiver Letter (other than the terms set forth in Section 3
hereof) shall, immediately and without further notice or opportunity to cure,
terminate the Limited Waiver, end the Waiver Period, and constitute an Event of
Default under Article IX of the Agreement as of the date of such
failure.  Failure of any of the Obligors
to satisfy any of the terms or conditions set forth in Section 3 of this
Waiver Letter shall, as of the date of such failure, end the Waiver Period, and
constitute an Event of Default under Article IX of this Agreement, unless cured within
five (5) calendar days after Master Borrower’s receipt of notice from
Agent at the addresses and in accordance with the procedures set forth in the
Notice provision of the Agreement.

 

Section 9.              Miscellaneous.

 

a.             Headings.  The headings and underscoring of articles,
sections and clauses have been included herein for convenience only and shall
not be considered in interpreting this Waiver Letter.

 

b.             Governing Law. 
This Waiver Letter shall be construed in accordance with and governed by
the internal laws of the Commonwealth of Pennsylvania.

 

c.             Integration. 
This Waiver Letter constitutes the sole agreement of the parties with
respect to the subject matter hereof and thereof and supersedes all oral
negotiations and prior writings with respect to the subject matter hereof and
thereof.

 

d.             Severability of Provisions.  Any provision of this Waiver Letter that is
held to be inoperative, unenforceable, void or invalid in any jurisdiction
shall, as to that jurisdiction, be ineffective, unenforceable, void or invalid
without affecting the remaining provisions in that jurisdiction or the
operation, enforceability or validity of that provision in any other jurisdiction,
and to this end the provisions of this Waiver Letter are declared to be
severable.

 

3

 

e.             No Third-Party Beneficiaries.  Notwithstanding anything to the contrary
contained herein, no provision of this Waiver Letter is intended to benefit any
party other than the signatories hereto nor shall any such provision be
enforceable by any other party.

 

f.              Counterparts. 
This Waiver Letter may be executed in any number of counterparts and by
the different parties on separate counterparts and each such counterpart shall
be deemed to be an original, but all such counterparts shall together
constitute one and the same Waiver Letter.

 

 

[Signature
Pages Follow]

 

4

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  Wachovia Bank, National
  Association

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Jeffrey D. Wallace

  
	
   

  	
   

  	
  Jeffrey D. Wallace

  

 

 

	
   

  	
  ACCEPTED
  AND AGREED TO:

  
	
   

  	
   

  
	
   

  	
   

  
	
  Master Borrower:

  	
  Greenwood Financial, Inc.,
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Vice President

  

 

 

	
  Corporate Borrowers:

  	
  OHB Homes, Inc.

  
	
   

  	
  Orleans Corporation

  
	
   

  	
  Orleans Corporation of New
  Jersey

  
	
   

  	
  Orleans Construction Corp.

  
	
   

  	
  Parker &
  Lancaster Corporation

  
	
   

  	
  Parker & Orleans
  Homebuilders, Inc.

  
	
   

  	
  Sharp Road
  Farms, Inc.

  

 

 

	
   

  	
  By:

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Vice President

  

 

 

[Borrowers’
signatures continued on the following page]

 

5

 

Limited Liability Company

Borrowers:

Masterpiece Homes, LLC

OPCNC, LLC

Orleans at Bordentown, LLC

Orleans at Cooks Bridge, LLC

Orleans at Covington Manor, LLC

Orleans at Crofton Chase, LLC

Orleans at East Greenwich, LLC

Orleans at Elk Township, LLC

Orleans at Evesham, LLC

Orleans at Hamilton, LLC

Orleans at Harrison, LLC

Orleans at Hidden Creek, LLC

Orleans at Jennings Mill, LLC

Orleans at Lambertville, LLC

Orleans at Lyons Gate, LLC

Orleans at Mansfield, LLC

Orleans at Maple Glen, LLC

Orleans at Meadow Glen, LLC

Orleans at Millstone, LLC

Orleans at Millstone River Preserve, LLC

Orleans at Moorestown, LLC

Orleans at Tabernacle, LLC

Orleans at Upper Freehold, LLC

Orleans at Wallkill, LLC (f/k/a Kabro of

Middletown, LLC)

Orleans at Westampton Woods, LLC

Orleans at Woolwich, LLC

Orleans Arizona Realty, LLC (f/k/a Orleans at
King 

Ranch, LLC)

Orleans DK, LLC

Parker Lancaster, Tidewater, LLC

Wheatley Meadows Associates, LLC

 

 

	
   

  	
  By:

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Vice President

  

 

 

[Borrowers’
signatures continued on the following page]

 

6

 

Limited Partnership

Borrowers:                                                                                                                                                                                                                                  Brookshire
Estates, L.P. (f/k/a Orleans at 

Brookshire Estates, L.P.)

Orleans at Falls, LP

Orleans at Limerick, LP

Orleans at Lower Salford, LP

Orleans at Thornbury, LP

Orleans at Upper Saucon, L.P.

Orleans at Upper Uwchlan, LP

Orleans at West Bradford, LP

Orleans at West Vincent, LP

Orleans at Windsor Square, LP

Orleans at Wrightstown, LP

Stock Grange, LP

By:                             OHI PA GP, LLC,
sole General Partner

 

	
   

  	
   

  	
  By:

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
   

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
   

  	
  Vice President

  

 

	
   

  	
   

  	
  Orleans RHIL, LP

  	
   

  
	
   

  	
   

  	
  Realen Homes, L.P.

  	
   

  
	
   

  	
   

  	
  By:

  	
  RHGP, LLC, sole General
  Partner

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Orleans
  Homebuilders, Inc.,

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Authorized Member

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Garry P. Herdler

  
	
   

  	
  Garry P. Herdler,
  Executive

  
	
   

  	
  Vice President &

  
	
   

  	
  Chief Financial Officer

  
							

 

	
  Guarantor:

  	
   

  	
  Orleans
  Homebuilders, Inc., a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Garry P. Herdler

  
	
   

  	
   

  	
   

  	
  Garry P. Herdler,
  Executive

  
	
   

  	
   

  	
   

  	
  Vice President &

  
	
   

  	
   

  	
   

  	
  Chief Financial Officer

  

 

7

 

LENDER SIGNATURE PAGE TO WAIVER

LETTER WITH GREENWOOD FINANCIAL,

INC. AS MASTER BORROWER, DATED AS

OF MAY 9, 2008:

 

 

	
   

  	
  WACHOVIA BANK,

  
	
   

  	
  NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Jeffery D. Wallace

  
	
   

  	
   

  	
  Jeffrey D. Wallace, Senior
  Vice President

  

 

8

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Sean Finnegan

  
	
   

  	
   

  	
  Name: Sean Finnegan

  
	
   

  	
   

  	
  Title: Sr. Vice President

  

 

9

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SOVEREIGN BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Ernest J. Kociban

  
	
   

  	
   

  	
  Name: Ernest J. Kociban

  
	
   

  	
   

  	
  Title: Sr. V.P.

  

 

10

 

	
   

  	
  LENDER SIGNATURE PAGE TO WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER, DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MANUFACTURERS AND TRADERS TRUST 

  COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Bernard T. Shields

  
	
   

  	
   

  	
  Name: Bernard T. Shields

  
	
   

  	
   

  	
  Title: Vice President

  

 

11

 

	
   

  	
  LENDER SIGNATURE PAGE TO WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER, DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NATIONAL CITY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

12

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FIRSTRUST BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Eric Paul

  
	
   

  	
   

  	
  Name: Eric Paul

  
	
   

  	
   

  	
  Title: Senior Vice President

  

 

13

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GUARANTY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Linda Garcia

  
	
   

  	
   

  	
  Name: Linda Garcia

  
	
   

  	
   

  	
  Title: Sr. Vice President

  

 

14

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CITIZENS BANK OF PENNSYLVANIA

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Bruce G Shearer

  
	
   

  	
   

  	
  Name: Bruce G Shearer

  
	
   

  	
   

  	
  Title: Vice President

  

 

15

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMMERCE BANK, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Seth Mackler

  
	
   

  	
   

  	
  Name: Seth Mackler

  
	
   

  	
   

  	
  Title: Vice President

  

 

16

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SUNTRUST BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Lauren P. Carrigan

  
	
   

  	
   

  	
  Name: Lauren P. Carrigan

  
	
   

  	
   

  	
  Title: Vice President

  

 

17

 

 

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	 
	
   

  	
  REGIONS BANK, successor by merger to

  	 

	 
	
   

  	
  Amsouth Bank

  	 

	 
	
   

  	
   

  	 

	 
	
   

  	
   

  	 

	 
	
   

  	
  By:

  	
  Daniel McClurkin

  	 

	 
	
   

  	
  Name: Daniel McClurkin

  	 

	 
	
   

  	
  Title: Assistant Vice President

  	 

						

 

18

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  FRANKLIN BANK, SSB

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

19

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Adam Sheets

  
	
   

  	
   

  	
  Name: Adam Sheets

  
	
   

  	
   

  	
  Title: Assistant Vice President

  

 

20

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COMPASS BANK, an Alabama Banking 

  Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Johanna Duke Paley

  
	
   

  	
   

  	
  Name: Johanna Duke Paley

  
	
   

  	
   

  	
  Title: SVP

  

 

21

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

22

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL, 

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LaSALLE BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Sean Finnegan

  
	
   

  	
   

  	
  Name: Sean Finnegan

  
	
   

  	
   

  	
  Title: Sr. Vice President

  

 

23

 

	
   

  	
  LENDER SIGNATURE PAGE TO
  WAIVER

  
	
   

  	
  LETTER WITH GREENWOOD
  FINANCIAL,

  
	
   

  	
  INC. AS MASTER BORROWER,
  DATED AS

  
	
   

  	
  OF MAY 9, 2008:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK TRUST COMPANY 

  AMERICAS

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  David J Bell D. Lazarov

  
	
   

  	
   

  	
  Name: David J Bell

  	
   

  	
  Dusan Lazarov

  
	
   

  	
   

  	
  Title: Managing Director   Vice President

  

 

24

 

Schedule
A  - 
Schedule of Borrowers

 

	
  Master:

  	
   

  	
  Greenwood
  Financial, Inc.

  
	
   

  	
   

  	
   

  
	
  Corporate:

  	
   

  	
   

  
	
   

  	
   

  	
  Masterpiece
  Homes, Inc.

  
	
   

  	
   

  	
  OHB
  Homes, Inc.

  
	
   

  	
   

  	
  Orleans
  Corporation

  
	
   

  	
   

  	
  Orleans
  Corporation of New Jersey

  
	
   

  	
   

  	
  Orleans
  Construction Corp.

  
	
   

  	
   

  	
  Parker &
  Lancaster Corporation

  
	
   

  	
   

  	
  Parker &
  Orleans Homebuilders, Inc.

  
	
   

  	
   

  	
  Sharp
  Road Farms, Inc.

  
	
   

  	
   

  	
   

  
	
  Limited
  Liability Companies:

  	
   

  	
   

  
	
   

  	
   

  	
  OPCNC, LLC

  
	
   

  	
   

  	
  Orleans at Bordentown, LLC

  
	
   

  	
   

  	
  Orleans at Cooks Bridge,
  LLC

  
	
   

  	
   

  	
  Orleans at Covington
  Manor, LLC

  
	
   

  	
   

  	
  Orleans at Crofton Chase,
  LLC

  
	
   

  	
   

  	
  Orleans at East Greenwich,
  LLC

  
	
   

  	
   

  	
  Orleans at Elk Township,
  LLC

  
	
   

  	
   

  	
  Orleans at Evesham, LLC

  
	
   

  	
   

  	
  Orleans at Hamilton, LLC

  
	
   

  	
   

  	
  Orleans at Harrison, LLC

  
	
   

  	
   

  	
  Orleans at Hidden Creek,
  LLC

  
	
   

  	
   

  	
  Orleans at Jennings Mill,
  LLC

  
	
   

  	
   

  	
  Orleans at Lambertville,
  LLC

  
	
   

  	
   

  	
  Orleans at Lyons Gate, LLC

  
	
   

  	
   

  	
  Orleans at Mansfield, LLC

  
	
   

  	
   

  	
  Orleans at Maple Glen, LLC

  
	
   

  	
   

  	
  Orleans at Meadow Glen,
  LLC

  
	
   

  	
   

  	
  Orleans at Millstone, LLC

  
	
   

  	
   

  	
  Orleans at Millstone River
  Preserve, LLC

  
	
   

  	
   

  	
  Orleans at Moorestown, LLC

  
	
   

  	
   

  	
  Orleans at Tabernacle, LLC

  
	
   

  	
   

  	
  Orleans at Upper Freehold,
  LLC

  
	
   

  	
   

  	
  Orleans at Wallkill, LLC
  (f/k/a Kabro of Middletown, LLC)

  

 

(Schedule
of Borrowers continued on the following page)

 

 

Orleans
Homebuilders, Inc.

May 13, 2008

 

	
   

  	
   

  	
  Orleans at Westampton
  Woods, LLC

  
	
   

  	
   

  	
  Orleans at Woolwich, LLC

  
	
   

  	
   

  	
  Orleans Arizona Realty,
  LLC (f/k/a Orleans at King Ranch, LLC)

  
	
   

  	
   

  	
  Orleans DK, LLC

  
	
   

  	
   

  	
  Parker Lancaster,
  Tidewater, LLC

  
	
   

  	
   

  	
  Wheatley Meadows
  Associates, LLC

  
	
   

  	
   

  	
   

  
	
  Limited Partnerships:

  	
   

  	
   

  
	
   

  	
   

  	
  Brookshire Estates,
  L.P.(f/k/a Orleans at Brookshire Estates, L.P.)

  
	
   

  	
   

  	
  Orleans at Falls, LP

  
	
   

  	
   

  	
  Orleans at Limerick, LP

  
	
   

  	
   

  	
  Orleans at Lower Salford,
  LP

  
	
   

  	
   

  	
  Orleans RHIL, LP

  
	
   

  	
   

  	
  Orleans at Thornbury, LP

  
	
   

  	
   

  	
  Orleans at Upper Saucon,
  L.P.

  
	
   

  	
   

  	
  Orleans at Upper Uwchlan,
  LP

  
	
   

  	
   

  	
  Orleans at West Bradford,
  LP

  
	
   

  	
   

  	
  Orleans at West Vincent,
  LP

  
	
   

  	
   

  	
  Orleans at Windsor Square,
  LP

  
	
   

  	
   

  	
  Orleans at Wrightstown, LP

  
	
   

  	
   

  	
  Realen Homes, L.P.

  
	
   

  	
   

  	
  Stock Grange, LP

  

 

26

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]