Document:

exv10w1w11

Exhibit 10.1.11

JOINDER PURCHASE AGREEMENT

JOINDER
PURCHASE AGREEMENT, dated as of January 2, 2009 (this
“Agreement”), by Barclays Bank PLC
(“New Loan Lender”) and acknowledged by McJunkin Red Man Corporation (f/k/a McJunkin Corporation),
a West Virginia corporation (the “Borrower”) and The
CIT Group/Business Credit, Inc. (“CIT”), as
Administrative Agent.

RECITALS:

     WHEREAS, reference is hereby made to the Revolving Loan Credit Agreement, dated as of
October 31, 2007 (as amended, restated, supplemented or otherwise modified, refinanced or replaced
from time to time, the “Credit Agreement”), among the Borrower, the Lenders party thereto, CIT, as
Administrative Agent, and CIT and Bank of America, N.A., collectively, as Collateral Agent
(capitalized terms used but not defined herein having the meaning provided in the Credit
Agreement);

     WHEREAS, reference is hereby made to that certain Joinder Agreement dated as of even date
herewith, among the Borrower, New Loan Lender and Administrative
Agent (the “Joinder Agreement”);
and

     WHEREAS, pursuant to the Joinder Agreement, New Loan Lender has agreed to provide a New
Revolving Credit Commitment in the amount and on the terms and conditions set forth in the Joinder
Agreement.

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

     SECTION 1. Pursuant to Section 2.14(b) of the Credit Agreement, each of the Lenders agreed
to assign to New Loan Lender a portion of its interests in the outstanding Revolving Credit Loans
such that after giving effect to the Joinder Agreement, such Revolving Credit Loans will be held by
such Lenders and the New Loan Lender ratably in accordance with their respective Revolving Credit
Commitments. New Loan Lender hereby agrees to transfer to Administrative Agent a total aggregate
amount of $72,799,544.28 to purchase such portions of the outstanding Revolving Credit Loans, and
the Administrative Agent agrees to distribute the proceeds of such payment to the existing Lenders
in amounts necessary to cause the Revolving Credit Loans to be held by each existing Lenders and
the New Loan Lender ratably in accordance with their respective Revolving Credit Commitments as
reflected in the Register at the close of business on the date hereof.

     SECTION 2. Administrative Agent shall deliver notice to each of the existing Lenders of the
transfers and distributions described in Section 1 (which notice shall be deemed delivered by the
acceptance of such Lenders of the proceeds of the distribution made to such Lenders pursuant to
Section 1 hereof). Upon the delivery of such notice, each of the existing Lenders shall have been
deemed to have assigned to New Loan Lender the applicable portion of the Revolving Credit Loans
held by such existing Lender without further action by any Person.

     SECTION 3. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
GOVERNED BY, AND SHALL BE

 

 

CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     SECTION 4. Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed to be an original, but all of which shall constitute one and the same
agreement.

[Remainder of page intentionally left blank].

 

 

     IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute
and deliver this Joinder Purchase Agreement as of the date first above written.

	 	 	 	 	 
	 	BARCLAYS BANK PLC

 	 
	 	By:  	/s/ Douglas Bernegger
 	 
	 	 	Name:  	DOUGLAS BERNEGGER 	 
	 	 	Title:  	DIRECTOR 	 
	 

MCJUNKIN RED MAN CORPORATION

Joinder Purchase Agreement

 

 

	 	 	 	 	 
	 	Acknowledged and Agreed

as of the date first above written:

THE CIT GROUP/BUSINESS CREDIT, INC., 

as Administrative Agent

 	 
	 	By:  	/s/ Carmen Caporrino
 	 
	 	 	Name:  	Carmen Caporrino 	 
	 	 	Title:  	Vice President 	 
	 

MCJUNKIN RED MAN CORPORATION

Joinder Purchase Agreement

 

 

	 	 	 	 	 
	 	Acknowledged and Agreed

as of the date first above written:

MCJUNKIN RED MAN CORPORATION

(f/k/a Mcjunkin Corporation)

 	 
	 	By:  	/s/
James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 
	 

MCJUNKIN RED MAN CORPORATION

Joinder Purchase Agreementexv10w1w12

Exhibit 10.1.12

FIRST AMENDMENT

TO REVOLVING LOAN CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO REVOLVING LOAN CREDIT AGREEMENT (this “Amendment”) is dated as of
December 21, 2009 and is entered into by and among MCJUNKIN RED MAN CORPORATION (f/k/a McJunkin
Corporation), a West Virginia corporation (the “Borrower”), CERTAIN FINANCIAL INSTITUTIONS listed
on the signature pages hereto (the “Lenders”), THE CIT GROUP/BUSINESS CREDIT, INC. (“CIT”), as
Administrative Agent (in such capacity, the “Administrative Agent”), and, for purposes of Section
IV hereof, the CREDIT SUPPORT PARTIES listed on the signature pages hereto, and is made with
reference to that certain REVOLVING LOAN CREDIT AGREEMENT dated as of
October 31, 2007 (as amended
through the date hereof, the “Credit Agreement”) by and among Borrower, the Lenders, Goldman Sachs
Credit Partners L.P. and Lehman Brothers Inc., as co-lead arrangers and joint bookrunners,
Administrative Agent, CIT and Bank of America, N.A., as co-collateral agents, Bank of America, N.A.,
as syndication agent, and JPMorgan Chase Bank, N.A., Wachovia Bank, N.A. and PNC Bank, National
Association, as co-documentation agents. Capitalized terms used herein without definition shall
have the same meanings herein as set forth in the Credit Agreement after giving effect to this
Amendment.

RECITALS

     WHEREAS, the Credit Parties have requested that Required Lenders agree to amend certain
provisions of the Credit Agreement as provided for herein to, among other things, permit (i) the
issuance of the Senior Secured Notes (as hereinafter defined), the proceeds of which will be used,
in part, to repay the Term Loans and the Indebtedness of Parent Borrower (as hereinafter defined)
under the Parent Borrower Credit Agreement (as hereinafter defined), (ii) a dividend to Parent
Borrower in the minimum amount necessary to permit Parent Borrower to repay its Indebtedness under
the Parent Borrower Credit Agreement (including accrued interest and related fees and expenses) and
(iii) permit the Senior Secured Notes to be secured by the same collateral securing the Term Loans
(other than Stock in the Borrower’s Subsidiaries); and

     WHEREAS, subject to certain conditions, Required Lenders are willing to agree to such
amendment relating to the Credit Agreement.

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

SECTION I. AMENDMENTS TO CREDIT AGREEMENT

1.1 Amendments to Section 1: Definitions.

     A. The following definitions set forth in Section 1.1 of the Credit Agreement are hereby amended
and restated in their entirety to read as follows:

     “Applicable ABR Margin” shall mean at any date, with respect to each ABR Loan that is a
Revolving Credit Loan or a Swingline Loan, the applicable percentage per annum set forth below
based upon the Status in effect on such date:

 

 

	 	 	 	 	 
	 	 	Applicable ABR Margin for	 
	Status	 	Revolving Credit Loans and Swingline Loans	 
	Level I Status
	 	 	2.00	%
	Level II Status
	 	 	1.75	%
	Level III Status
	 	 	1.50	%

     Notwithstanding the foregoing, the term “Applicable ABR Margin” shall mean, with respect
to all ABR Loans, 2.00% per annum, during the period from and including the First Amendment
Effective Date to but excluding the date on which Section 9.1 Financials are delivered to
the Lenders under Section 9.1 for the fiscal quarter ending March 31, 2010.

     “Applicable LIBOR Margin” shall mean at any date, with respect to each LIBOR Loan that
is a Revolving Credit Loan, the applicable percentage per annum set forth below based upon the
Status in effect on such date:

	 	 	 	 	 
	 	 	Applicable LIBOR Margin for	 
	Status	 	Revolving Credit Loans	 
	Level I Status
	 	 	3.00	%
	Level II Status
	 	 	2.75	%
	Level III Status
	 	 	2.50	%

     Notwithstanding the foregoing, the term “Applicable LIBOR Margin” shall mean, with
respect to all LIBOR Loans, 3.00% per annum, during the period from and including the First
Amendment Effective Date to but excluding the date on which Section 9.1 Financials are delivered to
the Lenders under Section 9.1 for the fiscal quarter ending March 31, 2010.

     “Commitment Fee Rate” shall mean, with respect to the Available Commitment on any day,
the rate per annum set forth below opposite the Status in effect on such day:

	 	 	 	 	 
	Status	 	Commitment Fee Rate	 
	Level I Status
	 	 	0.50	%
	Level II Status
	 	 	0.375	%
	Level III Status
	 	 	0.375	%

     Notwithstanding the foregoing, the term “Commitment Fee Rate” shall mean 0.50% during the
period from and including the First Amendment Effective Date to but excluding the date at which
Section 9.1 Financials are delivered to the Lenders under Section 9.1 for the
fiscal quarter ending March 31, 2010.

     “Non-Core Assets” shall mean the assets described on Schedule 1.1(f).

2

 

     “Permitted Acquisition” shall mean the acquisition, by merger or otherwise, by the
Borrower or any of the Restricted Subsidiaries of assets or Stock or Stock Equivalents, so long as
(a) such acquisition and all transactions related thereto shall be consummated in accordance with
applicable law; (b) such acquisition shall result in the issuer of such Stock or Stock Equivalents
becoming a Restricted Subsidiary and a Subsidiary Guarantor, to the extent required by Section
9.11; (c) such acquisition shall result in the Administrative Agent, for the benefit of the
Secured Parties, being granted a security interest in any Stock, Stock Equivalent or any assets so
acquired, to the extent required by Sections 9.11 and/or 9.17; (d) after giving effect to
such acquisition, no Default or Event of Default shall have occurred and be continuing; (e) after
giving effect to such acquisition, Excess Availability shall be equal to or greater than
$30,000,000; and (f) any Indebtedness incurred to finance the acquisition is permitted to be
incurred by the Senior Secured Notes Indenture.

     Notwithstanding the definition of Borrowing Base, in connection with and subsequent to any
Permitted Acquisition, the Accounts and Inventory acquired by the Borrower or any Credit Party, or,
subject to compliance with Section 9.11 of the Credit Agreement, of the Person so acquired, may be
included in the calculation of the Borrowing Base and thereafter if all criteria set forth in the
definitions of Eligible Accounts and Eligible Inventory and Borrowing Base Guarantor have been
satisfied and, if the aggregate value (or Cost in the case of Inventory) of such Accounts and
Inventory is in excess of $20,000,000 and only to the extent reasonably requested by the
Administrative Agent, the Administrative Agent shall have received a collateral audit and appraisal
of such Accounts and Inventory acquired by the applicable Credit Parties or owned by such Person
acquired by the applicable Credit Parties which shall be reasonably satisfactory in scope, form and
substance to the Administrative Agent; provided, that if no collateral audit and appraisal
is delivered to and approved by the Administrative Agent with respect to such Accounts and
Inventory, then the lowest recovery rates from the current Inventory Appraisal shall apply to such
Accounts and Inventory.

     “Permitted Additional Debt” shall mean senior unsecured or subordinated Indebtedness,
issued by the Borrower or a Subsidiary Guarantor, (a) the terms of which (i) do not provide for any
scheduled repayment, mandatory redemption or sinking fund obligation prior to the date that is 180
days following the Revolving Credit Maturity Date (other than customary offers to purchase upon a
change of control, asset sale or event of loss and customary acceleration rights after an event of
default) and (ii) to the extent subordinated provide for customary subordination to the Obligations
under the Credit Documents, (b) the covenants, events of default, guarantees and other terms of
which (other than interest rate and redemption premiums), taken as a whole, are not more
restrictive to the Borrower and the Subsidiaries than those in this Agreement; provided
that a certificate of an Authorized Officer of the Borrower is delivered to the Administrative
Agent at least five Business Days (or such shorter period as the Administrative Agent may
reasonably agree) prior to the incurrence of such Indebtedness, together with a reasonably detailed
description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the
Borrower has determined in good faith that such terms and conditions satisfy the

3

 

foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the
foregoing requirement unless the Administrative Agent notifies the Borrower within such period that
it disagrees with such determination (including a reasonable description of the basis upon which it
disagrees), and (c) of which no Subsidiary of the Borrower (other than a Guarantor) is an obligor.

     B. Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions
in proper alphabetical sequence:

     “First Amendment” shall mean that certain First Amendment to Revolving Loan Credit
Agreement dated as of December 21, 2009 among the Borrower, Administrative Agent, the financial
institutions and the Credit Support Parties listed on the signature pages thereto.

     “First Amendment Effective Date” shall mean the date of satisfaction of the conditions
referred to in Section III of the First Amendment.

     “Senior Secured Notes” shall mean the senior secured notes of the Borrower issued from
time to time pursuant to the Senior Secured Notes Indenture and any registered notes issued by the
Borrower in exchange for, and as contemplated by, such notes with substantially identical terms as
such notes, as any such notes may be amended, restated, supplemented, replaced, increased,
refinanced or otherwise modified from time to time in accordance with the terms of the
Intercreditor Agreement.

     “Senior Secured Notes Indenture” shall mean that certain Indenture, dated as of the First
Amendment Effective Date, by and among the Borrower, McJunkin Red Man Holding Corporation, the
Credit Support Parties party thereto, and the trustee named therein, as the same may be amended,
restated, supplemented, replaced, increased, refinanced or otherwise modified from time to time in
accordance with the terms of the Intercreditor Agreement.

1.2 Section 8.15 of the Credit Agreement is hereby amended by deleting the definition “Term
Loan Credit Agreement” appearing therein and substituting the definition “Senior Secured Notes
Indenture” in its place.

1.3 Clause (ii) of the proviso to Section 10.1(A) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

“(ii) such secured Indebtedness has a final maturity date no earlier than the date that is 180 days
following the Revolving Credit Maturity Date,”

1.4 Clause (iii) of the proviso to Section 10.1(A) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

“(iii) the Liens securing such Indebtedness shall be subordinate to the Liens securing the
Obligations and not senior to the Liens securing Indebtedness arising under the Senior Secured
Notes Indenture.”

4

 

1.5 Clause (iv) of the proviso to Section 10.1(A) of the Credit Agreement is hereby amended by
deleting the phrase “collateral agent under the Term Loan Credit Agreement” appearing therein and
substituting the phrase “collateral trustee under the Senior Secured Notes Indenture” in its place.

1.6 Section 10.1 (B)(a) of the Credit Agreement is hereby amended and restated in its entirety to
read as follows:

     “(a) (i) Indebtedness arising under the Credit Documents and (ii) Indebtedness arising under
the Senior Secured Notes Indenture; provided, that with respect to any such Indebtedness specified
in the subclause (ii) incurred after the First Amendment Effective Date, such Indebtedness
satisfies the terms set forth in the proviso at the end of Section 10.1(A);”

1.7 Section 10.1(B)(m) of the Credit Agreement is hereby amended and restated in its entirety to
read as follows:

     “(m) (i) Indebtedness incurred in connection with any Permitted Sale Leaseback, provided that the
Net Cash Proceeds thereof are promptly applied to the prepayment of the Senior Secured Notes to the
extent required by the Senior Secured Notes Indenture; and (ii) any refinancing, refunding, renewal
or extension of any Indebtedness specified in subclause (i) above, provided that, except to the
extent otherwise permitted hereunder, (x) the principal amount of any such Indebtedness is not
increased above the principal amount thereof outstanding immediately prior to such refinancing,
refunding, renewal or extension and (y) the direct and contingent obligors with respect to such
Indebtedness are not changed;”

1.8 Section 10.1(B)(o) of the Credit Agreement is hereby amended and restated in its entirety to
read as follows:

     “(o) Indebtedness in respect of Permitted Additional Debt to the extent that the Net Cash
Proceeds therefrom are, immediately after the receipt thereof, applied to the prepayment of the
Senior Secured Notes in accordance with the Senior Secured Notes Indenture;”

1.9 Section 10.2(q) of the Credit Agreement is hereby amended and restated in its entirety to read
as follows:

     “(q) Liens securing the Senior Secured Notes; provided, that with respect to any such Senior
Secured Notes issued after the First Amendment Effective Date, such Indebtedness is permitted to be
secured in accordance with the proviso at the end of Section 10.1(A);”

1.10 Section 10.2(r) of the Credit Agreement is hereby amended and restated in its entirety to read
as follows:

     “(r) Liens securing Indebtedness permitted under Section 10.1(A), to the extent permitted in
accordance with the proviso at the end of such Section;”

5

 

1.11 A new Section 10.2(s) of the Credit Agreement is hereby inserted at the end of Section
10.2 of the Credit Agreement as follows:

     “(s) Liens securing obligations under Hedge Agreements; provided, that (x) such Liens are
subordinate to the Liens securing the Obligations and not senior to the Liens securing Indebtedness
arising under the Senior Secured Notes Indenture and (y) the holders of such Liens are subject to
the Intercreditor Agreement; and”

1.12 A new Section 10.2(t) of the Credit Agreement is hereby inserted at the end of Section 10.2
of the Credit Agreement as follows:

     “(t) additional Liens so long as the aggregate principal amount of the obligations so secured
does not exceed the greater of (y) $50,000,000 at any time outstanding and (z) 1.5% of Consolidated
Total Assets at the time of the incurrence of such obligations.”

1.13 Clause (iv) of the proviso to Section 10.3(b) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

     “(iv) any Indebtedness incurred to finance such merger, amalgamation or consolidation is
permitted to be incurred by the Senior Secured Notes Indenture;”

1.14 Clause (iii) of the proviso to Section 10.4(b) of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

     “(iii) any Indebtedness incurred to finance such sale, transfer or disposition (or series of
related sales, transfers or dispositions) is permitted to be incurred by the Senior Secured Notes
Indenture; and”

1.15 Section 10.6(d) of the Credit Agreement is hereby amended by (1) deleting the “and” at the end
of the existing clause (v) thereof, (2) deleting the “.” at the end of the existing clause (vi)
thereof and substituting “; and” in its place and (3) inserting the following provision as clause
(vii) thereof:

     “
(vii) to McJunkin  Red Man Holding Corporation (“Parent Borrower”) in an amount not to exceed
the amount necessary to repay the outstanding indebtedness (including accrued interest and related
fees and expenses) of Parent Borrower incurred pursuant to that certain Term Loan Credit Agreement
dated as of May 22, 2008, by and among Parent Borrower, the several lenders from time to time party
thereto, Goldman Sachs Credit Partners L.P. and Lehman Brothers Inc., as co-lead arrangers and
joint bookrunners, Barclays Bank PLC, as administrative agent and collateral agent, and Goldman
Sachs Credit Partners L.P., as syndication agent (the “Parent Borrower Credit Agreement”); provided
that (A) such dividend shall be made with the proceeds of the issuance of the Senior Secured Notes
pursuant to the Senior Secured Notes Indenture received by the Borrower on the First Amendment
Effective Date and (B) Parent Borrower shall, immediately following receipt of such dividend, repay
such indebtedness.

6

 

1.16 Clause (xii) of the proviso to Section 10.11 of the Credit Agreement is hereby amended by
deleting the definition “Term Loan Credit Agreement” appearing therein and substituting the
definition “Senior Secured Notes Indenture” in its place.

SECTION II. AMENDMENT TO EXHIBIT TO CREDIT AGREEMENT

     Exhibit  to the Credit Agreement (Form of Intercreditor Agreement) is hereby amended and
restated in its entirety in substantially the form attached to this Amendment as Exhibit A (or such
other terms as are not less favorable in any material respect to the Lenders than those set forth
therein) (the “Second A&R Intercreditor Agreement”).

SECTION III. CONDITIONS TO EFFECTIVENESS

          This Amendment shall become effective as of the date hereof only upon the satisfaction of all
of the following conditions precedent (the date of satisfaction of such conditions being referred
to herein as the “First Amendment Effective Date”):

          A. Execution. Administrative Agent shall have received a counterpart signature page of this
Amendment duly executed by each of the Credit Parties and Required Lenders.

          B. Intercreditor Agreement. Administrative Agent shall have received a fully-executed copy of
the Second A&R Intercreditor Agreement.

          C. Senior Secured Notes and Senior Secured Notes Indenture. The Borrower shall have received
the proceeds of the Senior Secured Notes issued pursuant to the Senior Secured Notes Indenture,
such Senior Secured Notes have a final maturity date no earlier than the date that is 90 days
following the Revolving Credit Maturity Date and the Administrative Agent shall have received a
fully-executed copy of the Senior Secured Notes Indenture (including all schedules and exhibits
thereto, including without limitation the collateral trust agreement).

          D. Fees. The Administrative Agent shall have received, for the account of each Lender
delivering an executed counterpart of this Amendment to the Administrative Agent, an amendment fee
in an amount equal to 0.20% of such Lender’s Commitment.

          E. Expenses. The Administrative Agent shall have received payment of all costs, expenses and
other amounts required to be reimbursed or paid by the Borrower pursuant to Section 14.5 of the
Credit Agreement.

          F. Absence of Default. No event has occurred and is continuing or will result from the
consummation of the transactions contemplated by this Amendment that would constitute an Event of
Default or a Default.

          G. Opinion of Counsel. The Administrative Agent shall have received the executed legal
opinions of (a) Simpson Thacher & Bartlett LLP, special New York
counsel to the Credit Parties, and (b) West Virginia counsel to the Credit Parties, in each
case in form and substance satisfactory to the Administrative Agent.

7

 

SECTION IV. REPRESENTATIONS AND WARRANTIES

     In order to induce Lenders to enter into this Amendment and to amend the Credit Agreement in
the manner provided herein, each Credit Party which is a party hereto represents and warrants to
each Lender that the following statements are true and correct in all material respects:

     A. Corporate Power and Authority; Authorization. Each Credit Party has the corporate or other
organizational power and authority to execute and deliver this Amendment
and to carry out the terms and provisions of the Credit Agreement as amended by this Amendment (the
“Amended Agreement”) and the other Credit Documents to which it is a party and has taken all
necessary corporate or other organizational action to authorize the execution and delivery of the
Amendment and performance of the Amended Agreement and the other Credit Documents to which it is a
party.

     B. No Violation. Neither the execution, delivery or performance by any Credit Party of this
Amendment, the Amended Agreement and the other Credit Documents to which it is a party nor
compliance with the terms and provisions thereof nor the consummation of the issuance of the Senior
Secured Notes pursuant to the Senior Secured Notes Indenture on the First Amendment Effective Date
and the other transactions contemplated hereby or thereby will (a) contravene any applicable
provision of any material law, statute, rule, regulation, order, writ, injunction or decree of any
court or governmental instrumentality, (b) result in any breach of any of the terms, covenants,
conditions or provisions of, or constitute a default under, or result in the creation or imposition
of (or the obligation to create or impose) any Lien upon any of the property or assets of such
Credit Party or any of the Restricted Subsidiaries (other than Liens created under the Credit
Documents) pursuant to, the terms of any material indenture, loan agreement, lease agreement,
mortgage, deed of trust, agreement or other material instrument to which such Credit Party or any
of the Restricted Subsidiaries is a party or by which it or any of its property or assets is bound
or (c) violate any provision of the certificate of incorporation, bylaws or other constitutional
documents of such Credit Party or any of the Restricted Subsidiaries.

     C. Governmental Approvals. The execution and delivery of this Amendment and the performance of
the Amended Agreement and the other Credit Documents does not require any consent or approval of,
registration or filing with, or any other action by, any Governmental Authority, except for (i)
such as have been obtained or made and are in full force and effect, (ii) filings and recordings in
respect of the Liens created pursuant to the Security Documents and (iii) such licenses, approvals,
authorizations or consents the failure to obtain or make could not reasonably be expected to have a
Material Adverse Effect.

     D. Binding Obligation. This Amendment and the Amended Agreement have been duly executed and
delivered by each of the Credit Parties party thereto and each constitutes a legal, valid and
binding obligation of such Credit Party to the extent a party
thereto, enforceable against such Credit Party in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency or other similar laws affecting creditors’
rights generally and subject to the general principles of equity.

8

 

     E. Incorporation of Representations and Warranties from Credit Agreement. The representations
and warranties contained in Section 8 of the Amended Agreement are and will be true and correct in
all material respects on and as of the First Amendment Effective Date to the
same extent as though made on and as of that date, except to the extent such representations and
warranties specifically relate to an earlier date, in which case they were true and correct in all
material respects on and as of such earlier date.

SECTION V. ACKNOWLEDGMENT AND CONSENT

     Each Domestic Subsidiary listed on the signature pages hereto is referred to herein as a
“Credit Support Party” and collectively as the
“Credit Support Parties”, and the Credit Documents
to which they are a party are collectively referred to herein as the
“Credit Support Documents”.

     Each Credit Support Party hereby acknowledges that it has reviewed the terms and provisions of
the Credit Agreement and this Amendment and consents to the amendment of the Credit Agreement
effected pursuant to this Amendment. Each Credit Support Party hereby confirms that each Credit
Support Document to which it is a party or otherwise bound and all Collateral encumbered thereby
will continue to guarantee or secure, as the case may be, to the fullest extent possible in
accordance with the Credit Support Documents the payment and performance of all “Obligations” under
each of the Credit Support Documents to which it is a party (in each case as such terms are defined
in the applicable Credit Support Document).

     Each Credit Support Party acknowledges and agrees that any of the Credit Support Documents to
which it is a party or otherwise bound shall continue in full force and effect and that all of its
obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the
execution or effectiveness of this Amendment. Each Credit Support Party represents and warrants
that all representations and warranties contained in the Amended Agreement and the Credit Support
Documents to which it is a party or otherwise bound are true and correct in all material respects
on and as of the First Amendment Effective Date to the same extent as though made on and as of that
date, except to the extent such representations and warranties specifically relate to an earlier
date, in which case they were true and correct in all material respects on and as of such earlier
date.

     Each
Credit Support Party acknowledges and agrees that (i) notwithstanding the conditions to
effectiveness set forth in this Amendment, such Credit Support Party is not required by the terms
of the Credit Agreement or any other Credit Support Document to consent to the amendments to the
Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this
Amendment or any other Credit Support Document shall be deemed to require the consent of such
Credit Support Party to any future amendments to the Credit Agreement.

9

 

SECTION VI. MISCELLANEOUS

     A. Reference to and Effect on the Credit Agreement and the Other Credit Documents.

     (i) On and after the First Amendment Effective Date, each reference in the Credit Agreement to
“this Amendment”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit
Agreement, and each reference in the other Credit Documents to the “Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a
reference to the Credit Agreement as amended by this Amendment.

     (ii) Except as specifically amended by this Amendment, the Credit Agreement and the other
Credit Documents shall remain in full force and effect and are hereby ratified and confirmed.

     (iii) The execution, delivery and performance of this Amendment shall not constitute a waiver
of any provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender
under, the Credit Agreement or any of the other Credit Documents.

     B. Agent’s Direction. The Administrative Agent and Required Lenders hereby approve the Senior
Secured Notes Collateral Documents (as defined in the Second A&R Intercreditor Agreement) in
substantially the form attached to this Amendment as Exhibit B (or such other terms as are not less
favorable in any material respect to the Lenders than those set forth therein) (the “Notes
Collateral Documents”) and hereby irrevocably authorize and direct the Collateral Agent, in such
capacity, to consent to the execution of the Notes Collateral Documents. The Administrative Agent
and Required Lenders hereby further irrevocably authorize and direct the Collateral Agent, in such
capacity, to enter into the Second A&R Intercreditor Agreement.

     C. Headings. Section and Subsection headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment for any other
purpose or be given any substantive effect.

     D. Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK.

     E. Counterparts.
This Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed and delivered shall be
deemed an original, but all such counterparts together shall constitute but one and the same
instrument; signature pages may be detached from multiple separate counterparts and attached to a
single counterpart so that all signature pages are physically attached to the same document.

[Remainder of this page intentionally left blank.]

10

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered
by their respective officers thereunto duly authorized as of the date first written above.

	 	 	 	 	 
	 	BORROWER:

MCJUNKIN RED MAN CORPORATION (f/k/a

McJunkin Corporation)

 	 
	 	By:  	/s/
James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

	 	 	 	 	 
	 	CREDIT SUPPORT PARTIES:

MCJUNKIN RED MAN DEVELOPMENT

CORPORATION (f/k/a McJunkin Development

Corporation)

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	MCJUNKIN NIGERIA LIMITED

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	MCJUNKIN-PUERTO RICO CORPORATION

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	MILTON OIL & GAS COMPANY

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	GREENBRIER PETROLEUM CORPORATION

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	RUFFNER REALTY COMPANY

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	MCJUNKIN-WEST AFRICA CORPORATION

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	MRC MANAGEMENT COMPANY (f/k/a MRM West

Virginia Management Company)

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	MRM OKLAHOMA MANAGEMENT LLC

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	MIDWAY-TRISTATE CORPORATION

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	LBPS HOLDING COMPANY

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 
	 	LABARGE PIPE & STEEL COMPANY

 	 
	 	By:  	/s/ James F. Underhill
 	 
	 	 	Name:  	James F. Underhill 	 
	 	 	Title:  	Vice President and Chief Financial Officer 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Co-Collateral Agent

 	 
	 	By:  	/s/ Joy L. Bartholomew
 	 
	 	 	Name:  	Joy L. Bartholomew 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BANK OF AMERICA, N.A.,

as Syndication Agent

 	 
	 	By:  	/s/ Joy L. Bartholomew
 	 
	 	 	Name:  	Joy L. Bartholomew 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BANK OF AMERICA, N.A.,

as a Lender

 	 
	 	By:  	/s/ Joy L. Bartholomew
 	 
	 	 	Name:  	Joy L. Bartholomew 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	THE CIT GROUP/BUSINESS CREDIT, INC.,

as Administrative Agent and a Lender

 	 
	 	By:  	/s/ Dan Bueno
 	 
	 	 	Name:  	Dan Bueno 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

as Co-Documentation Agent and a Lender

 	 
	 	By:  	/s/ Kim Nguyen
 	 
	 	 	Name:  	Kim Nguyen 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	Wachovia Bank NA,

as a Lender

 	 
	 	By:  	/s/ Katherine Houser
 	 
	 	 	Name:  	Katherine Houser 	 
	 	 	Title:  	Director 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	Raymond James Bank, FSB, 

as a Lender

 	 
	 	By:  	/s/ James M. Armstrong
 	 
	 	 	Name:  	James M. Armstrong 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	Sun Trust Bank,

as a Lender

 	 
	 	By:  	/s/ Hector Molina
 	 
	 	 	Name:  	Hector Molina 	 
	 	 	Title:  	Associate 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	Fifth Third Bank,

as a Lender

 	 
	 	By:  	/s/ Paul R. Schubert
 	 
	 	 	Name:  	Paul R. Schubert 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	Mizuho Corporate Bank, Ltd.,

as a Lender

 	 
	 	By:  	/s/ James R. Fayen
 	 
	 	 	Name:  	James R. Fayen 	 
	 	 	Title:  	Deputy General Manager 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	PNC BANK, N.A.,

as a Lender

 	 
	 	By:  	/s/ John D. Trott
 	 
	 	 	Name:  	John D. Trott 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	TD BANK, N.A.,

as a Lender

 	 
	 	By:  	/s/ Deborah Gravinese
 	 
	 	 	Name:  	Deborah Gravinese 	 
	 	 	Title:  	Senior Vice President 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	BURDALE FINANCIAL LIMITED,

as a Lender

 	 
	 	By:  	/s/ Phillip R. Webb
 	 
	 	 	Name:  	Phillip R. Webb 	 
	 	 	Title:  	Duly Authorized Signatory 	 
	 	 	 
	 	By:  	/s/ Antimo Barbieri
 	 
	 	 	Name:  	Antimo Barbieri 	 
	 	 	Title:  	Duly Authorized Signatory 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	The Huntington National Bank, as a Lender

 	 
	 	By:  	/s/ Joshua Elsea
 	 
	 	 	Name:  	Joshua Elsea 	 
	 	 	Title:  	Officer 	 

 

 

	 	 	 	 	 
	 	ALLIED IRISH BANKS., PLC.,

as a Lender

 	 
	 	By:  	/s/ Brent Phillips
 	 
	 	 	Name:  	Brent Phillips 	 
	 	 	Title:  	Vice President 	 
	 	 	 
	 	By:  	/s/ Martin Chin
 	 
	 	 	Name:  	Martin Chin 	 
	 	 	Title:  	Senior Vice President 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	City National Bank of West Virginia,

 as a Lender

 	 
	 	By:  	/s/ Jack Cavender
 	 
	 	 	Name:  	Jack Cavender 	 
	 	 	Title:  	Executive Vice President 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	United Bank, Inc.,

 as a Lender

 	 
	 	By:  	/s/ James A. Ward
 	 
	 	 	Name:  	James A. Ward 	 
	 	 	Title:  	Vice President 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	Capital One Leverage Finance Corp.,

 as a Lender

 	 
	 	By:  	/s/ Nick Malatestinic
 	 
	 	 	Name:  	Nick Malatestinic 	 
	 	 	Title:  	Senior Vice President 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	CITIZENS BANK,

as a Lender

 	 
	 	By:  	/s/ THOMAS COUTURE
 	 
	 	 	Name:  	THOMAS COUTURE 	 
	 	 	Title:  	FIRST VICE PRESIDENT 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	BANK OF OKLAHOMA, N.A.,

as a Lender

 	 
	 	By:  	/s/ Michael L. Elder
 	 
	 	 	Name:  	Michael L. Elder 	 
	 	 	Title:  	Vice President 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	Branch Banking & Trust Company, 

as a Lender

 	 
	 	By:  	/s/ Preston W. Bergen
 	 
	 	 	Name:  	Preston W. Bergen 	 
	 	 	Title:  	Senior Vice President 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	GENERAL ELECTRIC CAPITAL CORPORATION,

as a Lender

 	 
	 	By:  	/s/ Rebecca L. Milligan
 	 
	 	 	Name:  	Rebecca L. Milligan 	 
	 	 	Title:  	Duly Authorized Signatory 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	UPS Capital Corporation,

 as a Lender

 	 
	 	By:  	/s/ John P. Holloway
 	 
	 	 	Name:  	John P. Holloway 	 
	 	 	Title:  	Director of Portfolio Management 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

 

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC,

as a Lender

 	 
	 	By:  	/s/ Kevin Cullen
 	 
	 	 	Name:  	Kevin Cullen 	 
	 	 	Title:  	Director 	 

[Signature Page to First Amendment to Revolving Loan Credit Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}]]