Document:

Exhibit 10.1

 

	

    	
 

Pacira Pharmaceuticals, Inc.

10450 Science Center Drive

San Diego, CA 92121

Phone: (858) 625-2424

FAX: (858) 625-2439
    

 

SECOND AMENDED AND RESTATED CONSULTING AGREEMENT

 

RECIPIENT:                                                                          Gary Pace, Ph.D

 

EFFECTIVE DATE:                                  August 17, 2012

 

This Second Amended and Restated Consulting Agreement (the “Agreement”) is entered into this day, August 17, 2012, by and between Pacira Pharmaceuticals, Inc., a California corporation, having its principal place of business at 10450 Science Center Drive, San Diego, California 92121 (the “Company”), and Gary Pace located at the address listed above (the “Consultant”), and is made with respect to the following recitals and agreements:

 

WHEREAS, as of June 2, 2011 (the “Effective Date”) Company and Consultant entered into a Consulting Agreement; (the “Original Agreement” );

 

WHEREAS, as of April 3, 2012, the Original Agreement was amended and restated pursuant to the Amended and Restated Consulting Agreement (the “First Amended Agreement”);

 

WHEREAS, Company and Consultant wish to further amend and restate the First Amended Agreement to read as set forth herein.

 

NOW, THEREFORE, in consideration of the mutual covenants and promises described below, the First Amended Agreement is hereby amended and restated to read, and Company and Consultant agree, as follows:

 

1.                                      Services; Fees.

 

a)  Consultant is hereby retained as an independent contractor to provide the services described in Exhibit A hereto (the “Services”). Consultant shall receive fees for such Services and reimbursement for expenses as set forth in Exhibit A hereto. Such Services shall be performed as requested from time to time by Company’s chief executive officer, or as otherwise set forth on Exhibit A.

 

b)  Consultant shall diligently perform the Services in full compliance with the highest professional standards of practice in the industry and applicable laws.  Anything to the contrary contained in this Agreement notwithstanding, Consultant agrees and acknowledges that during the Term (as defined below) there is neither a minimum amount of Services for which Company is obligated to engage Consultant, nor shall this Agreement be construed as limiting in any way Company’s right to contract for similar services with any other party.  In no event shall this Agreement be construed as obligating Company to pay any amounts for Services performed under this Agreement unless (i) Company actually engages Consultant to perform Services pursuant to this Agreement, and Consultant actually performs such Services, and (ii) each such engagement to perform Services is evidenced by Exhibit A or other written agreement between the parties prior to the commencement of such Services.

 

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c)  In consideration of the Services, Consultant shall receive the fees set forth on Exhibit A (the “Consulting Fees”).  Consultant represents that the compensation: (i) is payment in full for the Services, and (ii) reflects the fair market value of the services described herein, commensurate with the fees charged by Consultant for providing similar services to other entities.

 

2.                                      Term. The initial term of this Agreement commenced on the Effective Date and shall continue until either party terminates this Agreement pursuant to this Section 2 (the “Term”). Consultant’s services shall be rendered as requested by Company and in a manner satisfactory to Company. This Agreement may be terminated by either party upon giving thirty (30) days prior written notice to the other party.  Upon termination of this Agreement, Consultant shall only be entitled and Company only obligated to pay for any Consulting Fee(s) due to Consultant for Services actually rendered and non-cancellable expenses incurred prior to the termination date in accordance with the terms and conditions of this Agreement.  Notwithstanding the foregoing, in the event Company terminates this Agreement as a result of Consultant’s failure to comply with the representations and warranties set forth herein, Company shall be entitled to withhold payment for Services previously rendered.  This sentence and  Sections  4, 5, 7, 8, 9, 10 and 13 shall survive the termination of this Agreement for any reason.

 

3.                                      Representations and Warranties of Consultant. Consultant represents and warrants that Consultant has the requisite expertise, ability and legal right to render the consulting services, and will perform the Services in an efficient manner and in accordance with the terms of this Agreement. Consultant shall abide by all laws, rules and regulations that apply to the performance of the Services and when on Company premises, will comply with Company’s policies with respect to conduct of visitors.  Consultant represents and warrants that Consultant is not and has not been: (i) excluded from participation in, or otherwise ineligible to participate in a “Federal Health Care Program” (as defined in 42 U.S.C. § 1320a-7b(f)) or in any other government payment program; (ii) listed on the General Services Administration’s List of parties Excluded from Federal Procurement and Nonprocurement Programs; or (iii) debarred under the Generic Drug Enforcement Act of 1992 (the “GDE Act”) (21 U.S.C. § 335(a) and (b)). To the best of Consultant’s knowledge, Consultant represents and warrants that Consultant has not engaged in any activity that could lead Consultant to become excluded or debarred as set forth above. Consultant further represents and warrants that Consultant does not and will not use in any capacity the services of any person excluded or debarred as set forth above. If Consultant is debarred or excluded as set forth above, during the Term, Consultant agrees to immediately notify Company, and this Agreement shall automatically terminate as of the date of such exclusion or debarment, without the requirement of notice from Company.  Consultant further represents and warrants that in providing the Services, Consultant shall be responsible for Consultant’s own compliance with all applicable local, state and federal laws and regulations.

 

4.                                      Confidentiality.

 

(a)                                 Consultant recognizes that in performing services under this Agreement it will have contact with information of substantial value to Company, which is not generally known and which gives Company an advantage over its competitors who do not know or use it, including, but not limited to, Company Inventions (as defined below), improvements to the Company’s technology, techniques, drawings, processes, inventions, developments, sales and customer information, and business and financial information, relating to the business, products, practices or techniques of Company and of any other corporation or entity that may be a party to a particular transaction with the Company (hereinafter referred to as “Confidential Information”). Confidential Information shall also include information belonging to a third party which Company is obligated to keep confidential from others.

 

(b)                                 Consultant agrees, at all times, to (i) regard and preserve as confidential such Confidential Information using the same standard of care as he uses to protect its own confidential information (but in no event less than a reasonable standard of care), (ii) not use the Confidential Information for any purpose other than as necessary to perform the Services, and (iii) to refrain from publishing, distributing, or disclosing any part of such Confidential Information to a third party without prior written consent of Company. Consultant further agrees, at all times, to refrain 

 

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from any other acts or omissions that would reduce the value of such Confidential Information to Company.  Consultant will immediately notify Company if he learns that Confidential Information has been disclosed or is about to be disclosed in violation of this Agreement, whether by Consultant’s acts, acts of third parties, law, regulation or court order, and shall cooperate with Company’s efforts to prevent or limit unauthorized disclosure of Confidential Information.

 

(c)                                  Upon termination of this Agreement, Consultant agrees to promptly surrender to Company all documents or items which are the property of Company or which contain or comprise such Confidential Information.

 

(d)                                 Consultant’s duties of confidence to Company and other duties pursuant to this Agreement, shall survive the termination of this Agreement for any reason.

 

5.                                      Inventions and Works of Authorship.

 

(a)                                 Consultant agrees to promptly and fully disclose in writing to Company any invention, discovery, idea, work of authorship, development, improvement, method or product, know-how and data (collectively, “Inventions”), whether or not patentable, which are made, conceived or reduced to practice by Consultant during the term of this Agreement that either: (i) result from any work performed by Consultant for Company; or (ii) relate to the business of the Company (collectively, “Company Inventions”).  Consultant agrees that Company Inventions shall be the sole property of Company and agrees to assign and does hereby assign to Company all right, title, and interest in and to all Company Inventions, including any and all related patents, copyrights, trademarks, trade names, trade secrets and other industrial and intellectual property rights and applications therefor, anywhere in the world.  Consultant hereby waives any moral rights in any Company Inventions to the maximum extent allowed under applicable law.

 

(b)                                 Consultant will maintain adequate and current written records (in the form of notes, sketches, drawings and as may be specified by the Company) to document the making, conception and/or first actual reduction to practice of any Company Invention.  Such written records shall be available to and remain the sole property of the Company at all times.

 

(c)                                  The Consultant agrees that if in the course of performing the Services, the Consultant incorporates into any Company Invention any Invention or other proprietary information owned by the Consultant or in which the Consultant has an interest, (i) the Consultant shall inform Company and receive Company’s consent, in writing, before incorporating such Invention or other proprietary information into any Company Invention; and (ii) the Company is hereby granted and shall have a nonexclusive, royalty-free, perpetual, irrevocable, worldwide right and license, with right to grant sublicenses, to fully use, reproduce, utilize, distribute (through multiple tiers of distribution), commercialize and otherwise exploit such Invention, including a right and license to make, have made, use, sell, offer to sell, develop, have developed, make derivative works, distribute, display, import, lease or otherwise dispose of Company products embodying, incorporating, or otherwise based on the Inventions.  The Consultant shall not incorporate any Invention or other proprietary information owned by any third party into any Company Invention without Company’s prior written permission.

 

(d)                                 All of Company’s patents, copyrights, trade secrets and other intellectual property rights relating to the subject matter of this Agreement  that were developed by Company prior to this Agreement or independent thereof shall be owned by Company and Consultant shall have no ownership, license, or other use rights therein except as set forth in this Agreement.

 

(e)                                  Consultant shall cooperate in executing any documents as may be necessary or desirable to further confirm the foregoing assignment or to assist Company in applying for, obtaining and enforcing patents or copyrights or other rights in the United States and in any foreign country with respect to any Company Invention.  The Consultant agrees that if Company is unable because of Consultant’s unavailability, dissolution, mental or physical incapacity, or for any other reason, to secure Consultant’s signature to apply for or to pursue any application for any United States or 

 

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foreign patents or mask work or copyright registrations covering the Company Inventions, then the Consultant hereby irrevocably designates and appoints Company and its duly authorized officers and agents as Consultant’s agent and attorney in fact, to act for and in Consultant’s behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyright and mask work registrations thereon with the same legal force and effect as if executed by Consultant.

 

6.                                      Independent Contractor. Consultant’s relationship with Company is and shall be that of an independent contractor, and neither party is authorized to nor shall act as the agent of the other. Consultant agrees that he or she will be solely responsible for the payment of all taxes relating to the compensation paid pursuant to this Agreement.

 

7.                                      Indemnification.  Consultant shall indemnify and hold harmless Company and its affiliates, officers, directors, employees, and agents from and against all liabilities, losses, costs and expenses (including reasonable attorneys’ fees) and damages arising out of or resulting from (i) any willful misconduct or negligent act or omission of Consultant, (ii) any breach of this Agreement by Consultant, or (iii) any violation by Consultant of any local, state, or federal law, rule, or regulation applicable to the performance of Consultant’s obligations under this Agreement.  This Section 7 shall survive any termination or expiration of this Agreement.

 

8.                                      Notices. Unless otherwise provided, any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon personal delivery to the party to be notified or upon deposit with the United States Post Office, by registered or certified mail, or by Federal Express postage prepaid and addressed to the party to be notified at the address for such party set forth in the introductory paragraph above, or at such other address as such party may designate by ten (10) days advance written notice to the other parties.

 

9.                                      Remedies. Consultant acknowledges that any disclosure or unauthorized use of Confidential Information will constitute a material breach of this Agreement and cause substantial harm to Company for which damages would not be a fully adequate remedy, and, therefore, in the event of any such breach, in addition to other available remedies, Company shall have the right to obtain injunctive relief.

 

10.                               Attorneys’ Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to other relief to which such party may be entitled.

 

11.                               Successors and Assigns. This Agreement shall be binding upon Consultant, and inure to the benefit of, the parties hereto and their respective heirs, successors, assigns, and personal representatives; provided, however, that it shall not be assignable by Consultant.

 

12.                               Amendment and Modification. No amendment, modification or supplement of this Agreement shall be binding unless executed in writing and signed by all of the parties hereto.

 

13.                               Entire Agreement; Governing Law. This Agreement contains the entire understanding of the parties with respect to the matters contained herein. This Agreement shall supersede any and all previous and existing Consulting Agreements between Company and Consultant. This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, without regard to principles of conflicts of law.

 

IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date first above written.

 

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By:
    	
/s/   Gary Pace
    	
 
    	
Consultant
    	
 
    	
8/17/12
    
	
 
    	
Name
    	
 
    	
Title
    	
 
    	
Date
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PACIRA   PHARMACEUTICALS, INC., a California Corporation
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/   Dave Stack
    	
 
    	
CEO
    	
 
    	
8/17/12
    
	
 
    	
Name
    	
 
    	
Title
    	
 
    	
Date
    

 

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EXHIBIT A

 

Scope of Services of Consultant:

 

The scope of consulting work contemplated by this Agreement shall be as follows:  Consultant will have the title of Technical Advisor to Company’s Chief Executive Officer and Board of Directors.  Consultant will drive a central process for technical analysis and scientific data based decision making in addition to his role as the project lead for the Spray Process.

 

Consulting Fees:

 

Consultant shall be compensated at the rate of $15,000 per month, to be billed monthly via invoice.  Invoices shall be paid within thirty (30) days of receipt at Pacira.  Invoices must be sent electronically to Accountspayable@pacira.com.

 

In addition to the fee set forth above, Consultant shall be eligible to receive a bonus (the “Bonus”) upon the approval by the United States Food and Drug Administration (the “FDA”) of Company’s Suite C manufacturing facility for EXPAREL (“Suite C”):

 

	
FDA Approval of Suite C on or before:
    	
 
    	
Bonus Amount:
    	
 
    
	
November 30, 2013
    	
 
    	
$
    	
200,000
    	
 
    
	
December 31, 2013
    	
 
    	
$
    	
100,000
    	
 
    
	
January 31, 2014
    	
 
    	
$
    	
50,000
    	
 
    

 

The Bonus shall be paid not later than thirty (30) days following the FDA’s approval for Suite C.

 

Equity Compensation:

 

Subject to the approval of the Board of Directors of Pacira Pharmaceuticals, Inc., a Delaware corporation and parent company to Company (“Parent”), Parent shall grant to Consultant an option (the “Option”) to purchase an aggregate of 70,000 shares of Common Stock, $0.001 par value per share, of Parent (the “Option Shares”).  The Option will be subject to the terms and conditions of Parent’s 2011 Amended and Restated Stock Incentive Plan (the “Plan”) and the accompanying Stock Option Agreement which Consultant will be required to execute as a condition to receipt of the Option.  The Option Shares shall 

 

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vest in accordance with the Plan and the Stock Option Agreement.

 

Reimbursement of Expenses:

 

·                  Company will reimburse consultant for all pre-approved travel and related expenses.

·                  Consultant is responsible for making all travel arrangements through his/her travel agent, unless otherwise instructed.

·                  Expense reports should be submitted to Company with corresponding receipts within five (5) days of the completed travel.

 

Pacira Pharmaceuticals Contact:

 

Name Dave Stack

Title Chief Executive Officer
 Pacira Pharmaceuticals, Inc.

5 Sylvan Way
 Parsippany, NJ 07054

Tel: 973-254-3560

 

7Exhibit 10.1

 

Execution Version

 

SIXTH AMENDMENT

 

TO

 

AMENDED AND RESTATED CREDIT AGREEMENT

 

Among

 

KODIAK OIL & GAS (USA) INC.

as Borrower,

 

WELLS FARGO BANK, N.A.,

as Administrative Agent,

 

and

 

The Lenders Signatory Hereto

 

 

Dated as of October 15, 2012

 

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

This Sixth Amendment to Amended and Restated Credit Agreement (this “Amendment”), effective as of the Sixth Amendment Effective Date (as defined below), is made by and among Kodiak Oil & Gas (USA) Inc., a Colorado corporation (the “Borrower”), each of the Lenders that is a signatory hereto and Wells Fargo Bank, N.A., as administrative agent for the Lenders (in such capacity, together with its successors, the “Administrative Agent”).

 

Recitals

 

A.                                   The Borrower, the Administrative Agent and the Lenders are parties to that certain Amended and Restated Credit Agreement dated as of October 28, 2011 as amended by the First Amendment and Limited Waiver to Amended and Restated Credit Agreement, dated as of November 14, 2011, the Second Amendment to Amended and Restated Credit Agreement, dated as of November 14, 2011, the Third Amendment to Amended and Restated Credit Agreement, dated as of January 10, 2012, the Fourth Amendment to Amended and Restated Credit Agreement, dated April 3, 2012 and the Fifth Amendment to Amended and Restated Credit Agreement, dated May 11, 2012 (as amended, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and on behalf of the Borrower.

 

B.                                     The Borrower has requested, and the Administrative Agent and the Lenders party hereto have agreed, to amend certain provisions of the Credit Agreement.

 

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

 

Section 1.                                            Defined Terms.  Each capitalized term which is defined in the Credit Agreement, but which is not defined in this Amendment, shall have the meaning ascribed such term in the Credit Agreement.  Unless otherwise indicated, all section references in this Amendment refer to the Credit Agreement.

 

Section 2.                                            Amendments to Credit Agreement.

 

2.1                                 Amendments to Section 1.02

 

(a)                                  Section 1.02 is hereby amended by inserting the following definitions in the appropriate alphabetical order:

 

“Aggregate Elected Commitments”  shall mean, at any time, the sum of the Elected Commitments, as the same may be increased, reduced or terminated pursuant to Section 2.06(c).  As of the Sixth Amendment Effective Date, the Aggregate Elected Commitments is $375,000,000.

 

“Elected Commitment” means, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Elected Commitment”, as the same may be increased, reduced or terminated from time to time in connection with an increase, reduction or termination of the Aggregate Elected Commitments pursuant to Section 2.06(c).

 

“Elected Commitment Increase Certificate” has the meaning set forth in Section 2.06(c)(ii)(E).

 

“New Lender” has the meaning assigned to such term in Section 2.06(c)(i).

 

“New Lender Certificate” has the meaning set forth in Section 2.06(c)(ii)(F).

 

“Sixth Amendment” shall mean that certain Sixth Amendment to Amended and Restated Credit Agreement, dated as of  October 15, 2012.

 

“Sixth Amendment Effective Date” has the meaning set forth in the Sixth Amendment.

 

 

(b)                                 The definition of “Aggregate Maximum Credit Amounts” is hereby amended and restated in its entirety as follows:

 

“Aggregate Maximum Credit Amounts” at any time shall equal the sum of the Maximum Credit Amounts, as the same may be reduced or terminated pursuant to Section 2.06.  Notwithstanding anything to the contrary contained herein, the Aggregate Maximum Credit Amount is $750,000,000, as the same may be reduced, increased or terminated from time to time.

 

(c)                                  The definition of “Borrowing Base Deficiency” is hereby amended and restated in its entirety as follows:

 

“Borrowing Base Deficiency” occurs if at any time the total Revolving Credit Exposures exceeds lesser of (a) the Borrowing Base then in effect and (b) the Aggregate Elected Commitments.

 

(d)                                 The definition of “Commitment” is hereby amended and restated in its entirety as follows:

 

“Commitment” shall mean, with respect to each Lender, the commitment of such Lender to make Loans and to acquire participations in Letters of Credit hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) modified from time to time pursuant to Section 2.06 and (b) modified from time to time pursuant to assignments by or to such Lender pursuant to Section 12.04(b).  The amount representing each Lender’s Commitment shall at any time be the least of (a) such Lender’s Maximum Credit Amount, (b) such Lender’s Applicable Percentage of the then effective Borrowing Base and (c) such Lender’s Elected Commitment.

 

(e)                                  The definition of “Lenders” is hereby amended and restated in its entirety as follows:

 

“Lenders” shall mean the Persons listed on Annex I and any Person that shall have become a party hereto pursuant to an Assignment and Assumption or Section 2.06, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.  Unless the context otherwise requires, the term “Lenders” includes the Swingline Lender.

 

(f)                                    The definition of “Maximum Credit Amount” is hereby amended and restated in its entirety as follows:

 

“Maximum Credit Amount” shall mean, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b), (b) modified from time to time pursuant to Section 2.06(c) or (c) modified from time to time pursuant to any assignment permitted by Section 12.04(a).

 

2.2                                 Amendment to Section 2.02(d).  The first sentence of Section 2.02(d) of the Credit Agreement is hereby amended and restated in full as follows:

 

The Loans made by each Lender shall be evidenced by a single promissory note of the Borrower in substantially the form of Exhibit A, dated, in the case of (i) any Lender party hereto as of the date of this Agreement, as of the date of this Agreement, (ii) any Lender that becomes a party hereto pursuant to an Assignment and Assumption, as of the effective date of the Assignment and Assumption or (iii) any Lender that becomes a party hereto in connection with an increase in the Aggregate Elected Commitments pursuant to Section 2.06(c), upon the effective date of such increase, payable to such Lender in a principal amount equal to its Maximum Credit Amount as in effect on such date, and otherwise duly completed.

 

2.3                                 Amendment to Section 2.03.  The parenthetical contained within the last sentence of the second to last paragraph of Section 2.03 is hereby amended and restated in full as follows:

 

Sixth Amendment

 

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(i.e., the least of the (a) Aggregate Maximum Credit Amounts, (b) Aggregate Elected Commitments and (c) then effective Borrowing Base)

 

2.4                                 Amendment to Section 2.06.

 

(a)                                  The title of Section 2.06 is hereby deleted and replaced in its entirety by the following:

 

Termination and Reduction of Aggregate Maximum Credit Amounts; Optional Increase and Reduction of Aggregate Elected Commitments.

 

(b)                                 The title of Section 2.06(b) is hereby deleted and replaced in its entirety by the following:

 

Optional Termination and Reduction of Aggregate Maximum Credit Amounts.

 

A new Section 2.06(c) is hereby added to the Credit Agreement immediately following Section 2.06(b) as follows:

 

(c)                                  Optional Increase and Reduction of Aggregate Elected Commitments.

 

(i)                                     Subject to the conditions set forth in Section 2.06(c)(ii), the Borrower may increase the Aggregate Elected Commitments then in effect by increasing the Elected Commitment of a Lender or by causing a Person that is acceptable to the Administrative Agent that at such time is not a Lender to become a Lender (a “New Lender”); provided that the Borrower may (A) make such request concurrently with a Scheduled or Interim Redetermination or (B) otherwise make a maximum of two (2) such requests between each two consecutive Scheduled Redeterminations.  Notwithstanding anything to the contrary contained in this Agreement, in no case shall a New Lender be the Borrower or an Affiliate of the Borrower.

 

(ii)                                  Any increase in the Aggregate Elected Commitments shall be subject to the following additional conditions:

 

(A) such increase shall not be less than $10,000,000  unless the Administrative Agent otherwise consents, and no such increase shall be permitted if after giving effect thereto the Aggregate Elected Commitments exceed the Borrowing Base then in effect;

 

(B) no Default shall have occurred and be continuing on the effective date of such increase;

 

(C) on the effective date of such increase, no Eurodollar Borrowings shall be outstanding or if any Eurodollar Borrowings are outstanding, then the effective date of such increase shall be the last day of the Interest Period in respect of such Eurodollar Borrowings unless the Borrower pays compensation required by Section 5.02;

 

(D) no Lender’s Elected Commitment may be increased without the consent of such Lender;

 

(E) if the Borrower elects to increase the Aggregate Elected Commitments by increasing the Elected Commitment of a Lender, the Borrower and such Lender shall execute and deliver to the Administrative Agent a certificate substantially in the form of Exhibit G (an “Elected Commitment Increase Certificate”); and

 

(F) if the Borrower elects to increase the Aggregate Elected Commitments by causing a New Lender to become a party to this Agreement, then the Borrower and such New Lender shall execute and deliver to the Administrative Agent a certificate substantially in the form of Exhibit H (a “New Lender Certificate”), together with an Administrative Questionnaire and a processing and recordation fee of $3,500, and the Borrower shall (1) if requested by the New Lender, deliver a Note payable to the order of such New Lender in a principal amount equal to its Maximum Credit Amount, and otherwise duly

 

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completed and (2) pay any applicable fees as may have been agreed to between the Borrower, the New Lender and/or the Administrative Agent.

 

(iii) Subject to acceptance and recording thereof pursuant to Section 2.06(c)(v), from and after the effective date specified in the Elected Commitment Increase Certificate or the New Lender Certificate (or if any Eurodollar Borrowings are outstanding, then the last day of the Interest Period in respect of such Eurodollar Borrowings, unless the Borrower has paid compensation required by Section 5.02):  (A) the amount of the Elected Commitments shall be increased as set forth therein, and (B) in the case of a New Lender Certificate, any New Lender party thereto shall be a party to this Agreement and have the rights and obligations of a Lender under this Agreement and the other Loan Documents.  In addition, the Lender or the New Lender, as applicable, shall purchase a pro rata portion of the outstanding Loans (and participation interests in Letters of Credit and Swingline Loans) of each of the other Lenders (and such Lenders hereby agree to sell and to take all such further action to effectuate such sale) such that each Lender (including any New Lender, if applicable) shall hold its Applicable Percentage of the outstanding Loans (and participation interests in Letters of Credit and Swingline Loans) after giving effect to the increase in the Aggregate Elected Commitments.

 

(iv) Upon its receipt of a duly completed Elected Commitment Increase Certificate or a New Lender Certificate, executed by the Borrower and the Lender, or by the Borrower and the New Lender party thereto, as applicable, the processing and recording fee referred to in Section 2.06(c)(iii)(F) and the Administrative Questionnaire referred to in Section 2.06(c)(iii)(F), if applicable, the Administrative Agent shall accept such Elected Commitment Increase Certificate or New Lender Certificate and record the information contained therein in the Register required to be maintained by the Administrative Agent pursuant to Section 12.04(b)(iv).  No increase in the Aggregate Elected Commitments shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this Section 2.06(c)(v).

 

(v)                                 Upon any increase in the Aggregate Elected Commitments pursuant to this Section 2.06(c), (A) each Lender’s Maximum Credit Amount shall be automatically deemed amended to the extent necessary so that each such Lender’s Applicable Percentage equals the percentage of the Aggregate Elected Commitments represented by such Lender’s Elected Commitment, in each case after giving effect to such increase, (B) Annex I to this Agreement shall be deemed amended to reflect the Elected Commitment of each Lender (including any New Lender) as thereby increased, any changes in the Lenders’ Maximum Credit Amounts pursuant to the foregoing clause (A), and any resulting changes in the Lenders’ Applicable Percentages and (C) if requested by a Lender, the Borrower shall deliver duly executed Notes payable to each Lender in a principal amount equal to such Lender’s Maximum Credit Amount after giving effect to such increase.

 

(vi)                          Upon any decrease in the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) that results in the Aggregate Maximum Credit Amounts being lower than the Aggregate Elected Commitments, each Lender’s Elected Commitment shall be automatically deemed amended to the extent necessary so that each such Lender’s Elected Commitment equals such Lender’s Maximum Credit Amount, after giving effect to such decrease.

 

(vii)                           The Borrower may from time to time reduce the Aggregate Elected Commitments; provided that (A) each reduction of the Aggregate Elected Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $10,000,000 and (B) the Borrower shall reduce the Aggregate Elected Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Revolving Credit Exposures would exceed the Aggregate Elected Commitments.

 

(viii) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Aggregate Elected Commitments under Section 2.06(c)(vii) at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof.  Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents

 

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thereof.  Each notice delivered by the Borrower pursuant to this Section 2.06(c)(viii) shall be irrevocable.  Any termination or reduction of the Aggregate Elected Commitments shall be permanent and may not be reinstated, except pursuant to Section 2.06(c)(i).  Each reduction of the Aggregate Elected Commitments shall be made ratably among the Lenders in accordance with each Lender’s Applicable Percentage.

 

2.5                                 Amendment to Section 2.08(b). The parenthetical contained within the last sentence of the second to last paragraph of Section 2.08(b) is hereby amended and restated in full as follows:

 

(i.e., the least of the (a) Aggregate Maximum Credit Amounts, (b) Aggregate Elected Commitments and (c) then effective Borrowing Base)

 

2.6                                 Amendment to Section 2.09.  Section 2.09 is hereby amended so that each instance of the term “Aggregate Commitments” is replaced by the term “the total Commitments”.

 

2.7                                 Amendment to Section 3.04(c)(i).  Section 3.04(c)(i) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

(i)                                     If, after giving effect to any termination or reduction of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) or any reduction of the Aggregate Elected Commitments pursuant to Section 2.06(c)(vii), the total Revolving Credit Exposures exceeds the total Commitments, then the Borrower shall (A) prepay the Borrowings on the date of such termination or reduction in an aggregate principal amount equal to such excess, and (B) if any excess remains after prepaying all of the Borrowings as a result of an LC Exposure, pay to the Administrative Agent on behalf of the Lenders an amount equal to such excess to be held as cash collateral as provided in Section 2.08(j).

 

2.8                                 Amendment to Section 12.02(b)(i).  Section 12.02(b)(i) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

(i)                                     increase the Commitment, the Maximum Credit Amount or the Elected Commitment of any Lender without the written consent of such Lender,

 

2.9                                 Amendment to Section 12.04(b)(iv).  Section 12.4(b)(iv) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

(iv) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, the Maximum Credit Amount and the Elected Commitment of, and principal amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).

 

2.10                           Annex I.  Annex I is hereby amended and restated in its entirety with Annex I attached hereto.

 

2.11                           New Exhibits.  Exhibit G and Exhibit H attached to this Amendment are hereby added as Exhibit G and Exhibit H to the Credit Agreement and Exhibit G and Exhibit H attached hereto shall be deemed to be attached as Exhibit G and Exhibit H to the Credit Agreement, respectively.

 

Section 3                                               Borrowing Base Redetermination.  For the period from and including the Sixth Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $450,000,000.  Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), (f), Section 8.13(c) or Section 9.12 of the Credit Agreement.  For the avoidance of doubt, the redetermination herein shall constitute the October 1, 2012 Scheduled Redetermination.

 

Section 4                                               Conditions Precedent.  This Amendment shall be effective upon the date of the receipt by the Administrative Agent of the following documents and satisfaction of the other conditions provided in this

 

5

 

Section 4, each of which shall be reasonably satisfactory to the Administrative Agent in form and substance (or waived in accordance with Section 12.02 of the Credit Agreement) (the “Sixth Amendment Effective Date”):

 

4.1                                 Sixth Amendment.  The Administrative Agent shall have received multiple counterparts of this Amendment as requested from the Borrower and the Majority Lenders.

 

4.2                                 Notes.  The Administrative Agent and each Lender shall have received duly executed Notes payable to the order of each Lender that has requested a Note in a principal amount equal to its Maximum Credit Amount, dated as of the date hereof.

 

4.3                                 No Default.  No Default or Event of Default shall have occurred and be continuing as of the Sixth Amendment Effective Date (after giving effect to the terms of this Amendment).

 

4.4                                 Title.                     The Administrative Agent shall have received title information as the Administrative Agent may reasonably require satisfactory to the Administrative Agent setting forth the status of title to at least 80% of the total value of the Oil and Gas Properties evaluated by most recently delivered Reserve Report, including evidence that at least 95% of the total value of the Borrower’s Oil and Gas Properties included in the most recent Borrowing Base are on Federal leases, State leases, allotted lands or fee simple.

 

4.5                                 Mortgages.  The Administrative Agent shall be reasonably satisfied that the Security Instruments create a first-priority Lien interest (provided that Excepted Liens of the type described in clauses (a) to (d) and (f) of the definition thereof may exist, but subject to the provisos at the end of such definition) on additional Oil and Gas Properties not already subject to a Lien of the Security Instruments such that after giving effect thereto, the Mortgaged Properties will represent at least 80% of the total value of the most recently delivered Reserve Report.  In connection therewith, to the extent necessary, the Administrative Agent shall have received from the Borrower a duly executed and notarized amendment and/or supplement to each mortgage or such new mortgages which shall be reasonably satisfactory to the Administrative Agent in form and substance.

 

4.6                                 Other.  The Administrative Agent shall have received such other documents as the Administrative Agent or special counsel to the Administrative Agent may reasonably request in advance in writing.

 

The Administrative Agent is hereby authorized and directed to declare this Amendment to be effective when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 4 or the waiver of such conditions as permitted by Section 12.02 of the Credit Agreement.  Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes.

 

Section 5.                                            Ratification and Affirmation; Representations and Warranties; Etc.   The Borrower hereby (a) acknowledges the terms of this Amendment; (b) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect as expressly amended hereby; and (c) represents and warrants to the Lenders that, as of the date hereof, after giving effect to the terms of this Amendment: (i) all of the representations and warranties contained in each Loan Document to which the Borrower is a party are true and correct in all material respects as though made on and as of the Sixth Amendment Effective Date (unless made as of a specific earlier date, in which case, such representation or warranty was true as of such date); (ii) no Default or Event of Default has occurred and is continuing; and (iii) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.

 

Section 6.                                            Miscellaneous.

 

6.1                                 Confirmation.  The provisions of the Credit Agreement (as amended by this Amendment) shall remain in full force and effect in accordance with its terms following the effectiveness of this Amendment.  This Amendment shall constitute a Loan Document, as such term is defined in the Credit Agreement.

 

6.2                                 No Waiver.  Except as expressly provided in this Amendment, neither the execution by the

 

6

 

Administrative Agent or the Lenders of this Amendment, nor any other act or omission by the Administrative Agent or the Lenders or their officers in connection herewith, shall be deemed a waiver by the Administrative Agent or the Lenders of any Defaults or Events of Default which may exist, which may have occurred prior to the date of the effectiveness of this Amendment or which may occur in the future under the Credit Agreement and/or the other Loan Documents.  Similarly, nothing contained in this Amendment shall directly or indirectly in any way whatsoever either: (a) impair, prejudice or otherwise adversely affect the Administrative Agent’s or the Lenders’ right at any time to exercise any right, privilege or remedy in connection with the Loan Documents with respect to any Default or Event of Default, (b) amend or alter any provision of the Credit Agreement, the other Loan Documents (other than the amendments provided for in Section 2 of this Amendment), or any other contract or instrument, or (c) constitute any course of dealing or other basis for altering any obligation of the Borrower or any right, privilege or remedy of the Administrative Agent or the Lenders under the Credit Agreement, the other Loan Documents, or any other contract or instrument.  Nothing in this Amendment shall be construed to be a consent by the Administrative Agent or the Lenders to any Default or Event of Default.  Each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or any other word or words of similar import shall mean and be a reference to the Credit Agreement as amended hereby, and each reference in any other Loan Document to the Credit Agreement or any word or words of similar import shall be and mean a reference to the Credit Agreement as amended hereby.

 

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

 

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

 

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

 

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

 

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

 

6.8                                 Governing Law.  THIS AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

7

 

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

 

 

	
BORROWER:
    	
KODIAK OIL & GAS (USA) INC., a Colorado   Corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
James   P. Henderson
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

 

	
ADMINISTRATIVE AGENT:
    	
WELLS FARGO BANK, N.A., as Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
Jonathan   Herrick
    
	
 
    	
Title:
    	
Assistant   Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
LENDERS:
    	
WELLS FARGO BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
Jonathan   Herrick
    
	
 
    	
Title:
    	
Assistant   Vice President
    

 

 

	
 
    	
KEYBANK   NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
BMO   HARRIS FINANCING, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
ROYAL   BANK OF CANADA
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
THE   BANK OF NOVA SCOTIA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
SCOTIABANK, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
CREDIT   SUISSE AG, CAYMAN ISLANDS BRANCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
COMERICA   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
DEUTSCHE   BANK TRUST COMPANY AMERICAS
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
SUNTRUST   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
Scott   Mackey
    
	
 
    	
Title:
    	
Director
    

 

 

	
 
    	
CADENCE   BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

REAFFIRMATION AND RATIFICATION: Each Guarantor hereby (a) acknowledges the terms of this Amendment; (b) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document, including each Guaranty Agreement, to which it is a party and agrees that each Loan Document, including each Guaranty Agreement, to which it is a party remains in full force and effect as expressly amended hereby; and (c) represents and warrants to the Lenders that, as of the date hereof, after giving effect to the terms of this Amendment: (i) all of the representations and warranties contained in each Loan Document, including each Guaranty Agreement, to which such Guarantor is a party are true and correct in all material respects as though made on and as of the Sixth Amendment Effective Date (unless made as of a specific earlier date, in which case, such representation or warranty was true as of such date); (ii) no Default or Event of Default has occurred and is continuing; and (iii) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.

 

	
ACKNOWLEDGED   AND RATIFIED:
    	
KODIAK   OIL & GAS CORP., a corporation continued under the laws of Yukon   Territories, Canada
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
James   P. Henderson
    
	
 
    	
 
    	
Chief   Financial Officer
    

 

 

Annex I

 

MAXIMUM CREDIT AMOUNT, ELECTED COMMITMENT AND
 PRO RATA SHARES

 

	
Lender
    	
 
    	
Maximum
   Credit Amount
    	
 
    	
Elected Commitment
    	
 
    	
Applicable Percentage
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Wells Fargo Bank, N.A.
    	
 
    	
$
    	
110,000,000
    	
 
    	
$
    	
55,000,000
    	
 
    	
14.6666666666667
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
KeyBank National Association 
    	
 
    	
$
    	
90,000,000
    	
 
    	
$
    	
45,000,000
    	
 
    	
12.0000000000000
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
BMO Harris Financing, Inc.
    	
 
    	
$
    	
90,000,000
    	
 
    	
$
    	
45,000,000
    	
 
    	
12.0000000000000
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Royal Bank of Canada
    	
 
    	
$
    	
90,000,000
    	
 
    	
$
    	
45,000,000
    	
 
    	
12.0000000000000
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
The Bank of Nova Scotia
    	
 
    	
$
    	
45,000,000
    	
 
    	
$
    	
22,500,000
    	
 
    	
6.0000000000000
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Scotiabanc Inc.
    	
 
    	
$
    	
45,000,000
    	
 
    	
$
    	
22,500,000
    	
 
    	
6.0000000000000
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Credit Suisse AG, Cayman Islands Branch 
    	
 
    	
$
    	
40,000,000
    	
 
    	
$
    	
20,000,000
    	
 
    	
5.3333333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Comerica Bank
    	
 
    	
$
    	
40,000,000
    	
 
    	
$
    	
20,000,000
    	
 
    	
5.3333333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
U.S. Bank National Association
    	
 
    	
$
    	
40,000,000
    	
 
    	
$
    	
20,000,000
    	
 
    	
5.3333333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
JPMorgan Chase Bank, N.A.
    	
 
    	
$
    	
40,000,000
    	
 
    	
$
    	
20,000,000
    	
 
    	
5.3333333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Deutsche Bank Trust Company Americas
    	
 
    	
$
    	
40,000,000
    	
 
    	
$
    	
20,000,000
    	
 
    	
5.3333333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SunTrust Bank
    	
 
    	
$
    	
40,000,000
    	
 
    	
$
    	
20,000,000
    	
 
    	
5.3333333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Cadence Bank, N.A.
    	
 
    	
$
    	
40,000,000
    	
 
    	
$
    	
20,000,000
    	
 
    	
5.3333333333333
    	
%
    

 

 

EXHIBIT G

FORM OF ELECTED COMMITMENT INCREASE CERTIFICATE

 

[               ], 20[    ]

 

To:                              Wells Fargo Bank, N.A.,

as Administrative Agent

 

The Borrower, the Administrative Agent and certain Lenders and other agents have heretofore entered into an Amended and Restated Credit Agreement, dated as of October 28, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).  Capitalized terms not otherwise defined herein shall have the meaning given to such terms in the Credit Agreement.

 

This Elected Commitment Increase Certificate is being delivered pursuant to Section 2.06(c)(ii)(E) of the Credit Agreement.

 

Please be advised that the undersigned Lender has agreed (a) to increase its Elected Commitment under the Credit Agreement effective as of [ ], 20[ ] from $[               ] to $[               ] and (b) that it shall continue to be a party in all respects to the Credit Agreement and the other Loan Documents.

 

	
 
    	
 
    	
Very   truly yours,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
[Name   of Increasing Lender]
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
Accepted   and Agreed:
    	
 
    
	
 
    	
 
    
	
WELLS   FARGO BANK, N.A.,
    	
 
    
	
as   Administrative Agent
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Accepted   and Agreed:
    	
 
    
	
 
    	
 
    
	
KODIAK OIL & GAS (USA) INC., a Colorado   Corporation
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    

 

 

EXHIBIT H

FORM OF NEW LENDER CERTIFICATE

 

[               ], 20[    ]

 

To:                              Wells Fargo Bank, N.A.,

as Administrative Agent

 

The Borrower, the Administrative Agent and certain Lenders and other agents have heretofore entered into an Amended and Restated Credit Agreement, dated as of October 28, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).  Capitalized terms not otherwise defined herein shall have the meaning given to such terms in the Credit Agreement.

 

This New Lender Certificate is being delivered pursuant to Section 2.06(c)(ii)(F) of the Credit Agreement.

 

Please be advised that the undersigned New Lender has agreed (a) to become a Lender under the Credit Agreement effective [ ], 20[ ] Date with a Maximum Aggregate Credit Amount of $[               ] and an Elected Commitment of $[            ] and (b) that it shall be a party in all respects to the Credit Agreement and the other Loan Documents.

 

This New Lender Certificate is being delivered to the Administrative Agent together with (i) if the New Lender is a Foreign Lender, any documentation required to be delivered by such New Lender pursuant to Section 5.03(e) of the Credit Agreement, duly completed and executed by the New Lender, and (ii) an Administrative Questionnaire in the form supplied by the Administrative Agent, duly completed by the New Lender.  The [Borrower/New Lender] shall pay the fee payable to the Administrative Agent pursuant to Section 2.06(c)(ii)(F) of the Credit Agreement.

 

	
 
    	
 
    	
Very   truly yours,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
[Name   of Increasing Lender]
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
Accepted   and Agreed:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
WELLS   FARGO BANK, N.A.,
    	
 
    
	
as   Administrative Agent
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Accepted   and Agreed:
    	
 
    
	
 
    	
 
    
	
KODIAK OIL & GAS (USA) INC., a Colorado   Corporation
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}]]