Document:

Exhibit 4.4

 

Execution Copy

 

CONTRIBUTION AND CONVEYANCE AGREEMENT

 

THIS CONTRIBUTION AND CONVEYANCE AGREEMENT (this “Agreement”) is entered into as of April 5, 2011, among Golar LNG Limited, a Bermuda exempted company (“Golar”), Golar GP LLC, a Marshall Islands limited liability company (the “General Partner”), Golar LNG Partners LP, a Marshall Islands limited partnership (the “Partnership”), Golar LNG Holding Co., a Marshall Islands corporation (“LNG Holdings”), and Golar Partners Operating LLC, a Marshall Islands limited liability company (“Operating LLC”).  The foregoing shall be referred to individually as a “Party” and collectively as the “Parties.”

 

RECITALS

 

A.                                   Golar and the General Partner have formed the Partnership pursuant to the Marshall Islands Limited Partnership Act (the “Marshall Islands LP Act”) for the purpose of owning and operating liquefied natural gas carriers and floating storage and regasification units under long-term charters.  The respective boards of directors of Golar, the Partnership and LNG Holdings and the respective members of the General Partner and Operating LLC have, prior to the date of this Agreement, authorized the Parties to effect the actions set forth below at the times and in the order set forth below.

 

B.                                     To accomplish the objectives and purposes in the preceding recital, the following actions have been taken prior to the date of this Agreement:

 

(1)                                  Golar formed the General Partner under the terms of the Marshall Islands Limited Liability Company Act (the “Marshall Islands LLC Act”) and contributed $1,000 in exchange for all of the membership interests in the General Partner;

 

(2)                                  The General Partner and Golar formed the Partnership under the terms of the Marshall Islands LP Act, and the General Partner contributed $20.00 and Golar contributed $980.00 in exchange for a 2.0% general partner interest and 98.0% limited partner interest in the Partnership, respectively;

 

(3)                                  Golar and the General Partner formed Operating LLC under the terms of the Marshall Islands LLC Act, and the General Partner contributed $20.00 and Golar contributed $980.00 in exchange for a 2.0% membership interest and 98.0% membership interest in Operating LLC, respectively;

 

(4)                                  Golar Management Limited transferred the shares of each of Golar Spirit UK Ltd. and Golar 2215 UK Ltd. to Golar;

 

(5)                                  Gotaas-Larsen Shipping Corp. transferred the shares of each of Golar Maritime (Asia) Inc. and Oxbow Holdings Inc. to Golar;

 

(6)                                  Golar contributed all of the shares of capital stock of Golar Maritime (Asia) Inc., Oxbow Holdings Inc., Golar LNG 2215 Corporation, and the entire issued share capital of Golar 2215 UK Ltd. and Golar Spirit UK Ltd. to Operating LLC as a capital contribution; and

 

 

(7)                                  Golar and the General Partner contributed all of their interests in Operating LLC to the Partnership as a capital contribution.

 

C.                                     Effective on the date of this Agreement, each of the following transactions shall occur in accordance with and pursuant to this Agreement:

 

(1)                                  LNG Holding will distribute the entire issued share capital of Golar Winter UK Ltd. (“Winter Ltd.”), a private company limited by shares incorporated in England with 1,000 ordinary shares of £1.00 in issue (such issued shares being the “Winter Shares”) to Golar;

 

(2)                                  Golar will contribute to the Partnership (i) the Winter Shares and (ii) all of the outstanding shares of capital stock of Golar LNG 2220 Corporation (“LNG 2220” and, together with Winter Ltd., the “Winter Subsidiaries”), a corporation organized under the laws of the Republic of the Marshall Islands with an authorized capital of 500 registered shares, par value $0.01 per share, all of which are issued and outstanding (such issued and outstanding shares being the “LNG 2220 Shares”) as a capital contribution;

 

(3)                                  The Partnership will contribute the Winter Shares and the LNG 2220 Shares to Operating LLC as a capital contribution; and

 

(4)                                  The agreements of limited partnership and the limited liability agreements of the forementioned entities will be amended and restated to the extent necessary to reflect the applicable matters set forth above and in Article I of this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of their mutual undertakings and agreements hereunder, the Parties undertake and agree as follows:

 

ARTICLE I
 CONTRIBUTIONS AND CONVEYANCE

 

1.1                                 The Parties acknowledge and agree that the following actions hereby occur in the following order effective on the date of this Agreement:

 

(a)                                  Distribution by LNG Holdings of Winter Ltd.  LNG Holdings hereby distributes the Winter Shares to Golar, and Golar hereby acknowledges receipt of the Winter Shares;

 

(b)                                 Contribution by Golar of Interests in Winter Subsidiaries to the Partnership.  Golar hereby contributes the Winter Shares and the LNG 2220 Shares to the Partnership as a capital contribution, and the Partnership hereby acknowledges receipt of the Winter Shares and the LNG 2220 Shares;

 

(c)                                  Contribution by the Partnership of Interests in Winter Subsidiaries to Operating LLC.  The Partnership hereby contributes the Winter Shares and the LNG

 

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2220 Shares to Operating LLC as a capital contribution, and Operating LLC hereby acknowledges receipt of the Winter Shares and the LNG 2220 Shares; and

 

(d)                                 Specific Conveyances.  To further evidence the transfer of the Winter Shares and the LNG 2220 Shares reflected in this Agreement (the “Interests”), each party making such transfer may have executed and delivered to the party receiving such Interest being transferred certain conveyance, stock transfer form, assignment and bill of sale instruments (the “Specific Conveyances”). The Specific Conveyances shall evidence and perfect such transfer made by this Agreement and shall not constitute a second conveyance of any assets or interests therein and shall be subject to the terms of this Agreement.

 

ARTICLE II
 REPRESENTATIONS AND WARRANTIES OF GOLAR; DISCLAIMER

 

2.1                                 Representations and Warranties.  Golar hereby represents and warrants that:

 

(a)                                  Each of the Winter Subsidiaries has been duly formed or incorporated and is validly existing in good standing under the laws of its respective jurisdiction of formation or incorporation and has all requisite power and authority to operate its assets and conduct its business as described in the registration statement on Form F-1 submitted by the Partnership to the Securities and Exchange Commission relating to a potential initial public offering by the Partnership, as amended (the “Registration Statement”);

 

(b)                                 The execution and delivery of this Agreement and all documents, instruments and agreements required to be executed and delivered by it pursuant to this Agreement in connection with the completion of the transactions contemplated by this Agreement, have been duly authorized by all necessary action on its part, and this Agreement has been duly executed and delivered by it and constitutes a legal, valid and binding obligation of it enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency, liquidation, reorganization, reconstruction and other similar laws of general application affecting the enforceability of remedies and rights of creditors and except that equitable remedies such as specific performance and injunction are in the discretion of a court;

 

(c)                                  The execution, delivery and performance by it of this Agreement will not conflict with or result in any violation of or constitute a breach of any of the terms or provisions of, or result in the acceleration of any obligation under, or constitute a default under any provision of: (i) its, LNG Holdings’ or any Winter Subsidiary’s articles of association, articles of incorporation or by-laws or other organizational documents; (ii) any lien, encumbrance, security interest, pledge, mortgage, charge, other claim, bond, indenture, agreement, contract, franchise license, permit or other instrument or obligation to which it, LNG Holdings or any Winter Subsidiary is a party or is subject or by which any of its or any LNG Holdings’ or Winter Subsidiary’s assets or properties may be bound; (iii) any applicable laws, statutes, ordinances, rules or regulations promulgated by a governmental authority, orders of a governmental authority, judicial decisions, decisions of arbitrators or determinations of any governmental authority or court

 

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(“Laws”); or (iv) any charter to which any Winter Subsidiary is a party or any material provision of any material contract to which it, LNG Holdings or any Winter Subsidiary is a party or by which its, LNG Holdings’ or any Winter Subsidiary’s properties are bound;

 

(d)                                 Except as have already been obtained or that will be obtained in the ordinary course of business, no consent, permit, approval or authorization of, notice or declaration to or filing with any governmental authority or any other person, including those related to any environmental laws or regulations, is required in connection with the execution and delivery by it of this Agreement or the consummation by it or LNG Holdings of the transactions contemplated hereunder, and any consents required for the transfer or assignment of the charter related to the Golar Winter (the “Vessel”) have been duly obtained;

 

(e)                                  The Winter Shares are validly issued in accordance with its articles of association and are fully paid;

 

(f)                                    The LNG 2220 Shares are duly authorized and validly issued in accordance with its articles of incorporation and by-laws or other organizational document and are fully paid and nonassessable;

 

(g)                                 (1) Immediately prior to the distribution referred to in Section 1.1(a) of this Agreement, LNG Holdings owns, and (2) and immediately after the distribution referred to in Section 1.1(a) of this Agreement, Golar owns, the beneficial interest in the Winter Shares. and has good legal title to the same, free and clear of all liens, encumbrances, security interests, pledges, mortgages, charges or other claims, other than those arising under or in connection with the finance lease arrangement with respect to the Vessel (the “UK Tax Lease”);

 

(h)                                 Golar owns the entire beneficial interest in the LNG 2220 Shares and has good legal title to the same, free and clear of all liens, encumbrances, security interests, pledges, mortgages, charges or other claims, other than those arising under or in connection with the UK Tax Lease;

 

(i)                                     There is no outstanding agreement, contract, option, commitment or other right or understanding in favor of, or held by, any person other than the Partnership to acquire the Winter Subsidiaries or the assets of the Winter Subsidiaries, including the Vessel, that has not been waived, other than the rights of Petroleo Brasileiro S.A. (“Petrobras”) arising under the Option Agreement for the Vessel dated September 4, 2007 by and among Winter Ltd., certain affiliates of Petrobras and the other parties named therein;

 

(j)                                     Correct and complete copies of the articles of association of Winter Ltd. and the organizational documents of LNG 2220 (as amended to the date of this Agreement) have been made available to the Partnership;

 

(k)                                  Each of the charters to which each Winter Subsidiary is a party (as amended to the date of this Agreement) has been made available to the Partnership;

 

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(l)                                     Winter Ltd.’s charter is a valid and binding agreement of Winter Ltd. enforceable in accordance with its terms and, to the knowledge of Golar, of all other parties thereto enforceable in accordance with its terms;

 

(m)                               The Winter Subsidiaries have fulfilled all material obligations required pursuant to their charters to have been performed by them prior to the date of this Agreement and have not waived any material rights thereunder; and no material default or breach exists in respect thereof on their part or, to their knowledge, any of the other parties thereto and, to their knowledge, no event has occurred which, after giving of notice or the lapse of time, or both, would constitute such a material default or breach;

 

(n)                                 Except for such liabilities, debts obligations, encumbrances, defects, restrictions or claims of a general nature and magnitude that would arise in connection with the operation of vessels of the same type as the Vessel in the ordinary course of business, there are no liabilities, debts or obligations of, encumbrances, defects or restrictions with respect to, or claims against the Winter Subsidiaries or any of the assets owned by the Winter Subsidiaries, including the Vessel, other than those arising under or in connection with the UK Tax Lease and the credit agreement with DnB NOR Bank ASA in respect of the Golar Freeze; and

 

(o)                                 The Vessel is (i) adequate and suitable for use by the Winter Subsidiaries in the Winter Subsidiaries’ business as presently conducted by them in all material respects as described in the Registration Statement, ordinary wear and tear excepted; (ii) seaworthy in all material respects for hull and machinery insurance warranty purposes and is in good running order and repair; (iii) insured against all risks, and in amounts, consistent with common industry practices; (iv) in compliance with maritime laws and regulations; (v) duly registered under the flag of the Marshall Islands; and (vi) in compliance in all material respects with the requirements of its present class and classification society; and all class certificates of the Vessel are clean and valid and free of recommendations affecting class.

 

2.2                                 Disclaimer of Warranties.  EXCEPT TO THE EXTENT PROVIDED IN THIS AGREEMENT OR IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, THE PARTIES ACKNOWLEDGE AND AGREE THAT NONE OF THE PARTIES HAS MADE, DOES NOT MAKE, AND EACH SUCH PARTY SPECIFICALLY NEGATES AND DISCLAIMS, ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, ORAL OR WRITTEN, PAST OR PRESENT, REGARDING (A) THE VALUE, NATURE, QUALITY OR CONDITION OF THE ASSETS OWNED BY THE WINTER SUBSIDIARIES, INCLUDING, WITHOUT LIMITATION, THE ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY, INCLUDING, WITHOUT LIMITATION, THE PRESENCE OR LACK OF HAZARDOUS SUBSTANCES OR OTHER MATTERS ON SUCH ASSETS, (B) THE INCOME TO BE DERIVED FROM SUCH ASSETS, (C) THE SUITABILITY OF SUCH ASSETS FOR ANY AND ALL ACTIVITIES AND USES THAT MAY BE CONDUCTED THEREON OR THEREWITH, (D) THE COMPLIANCE OF OR BY SUCH ASSETS OR THEIR OPERATION WITH ANY LAWS (INCLUDING WITHOUT

 

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LIMITATION ANY ZONING, ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS), OR (E) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF SUCH ASSETS.  EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, EACH PARTY ACKNOWLEDGES AND AGREES THAT SUCH PARTY HAS HAD THE OPPORTUNITY TO INSPECT THE ASSETS OF THE WINTER SUBSIDIARIES, AND SUCH PARTY IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE ASSETS OF THE WINTER SUBSIDIARIES AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY ANY OF THE OTHER PARTIES.  EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, NONE OF THE PARTIES IS LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE ASSETS OF THE WINTER SUBSIDIARIES FURNISHED BY ANY AGENT, EMPLOYEE, SERVANT OR THIRD PARTY.  THIS SECTION SHALL SURVIVE THE CONTRIBUTION AND CONVEYANCE OF THE INTERESTS OR THE TERMINATION OF THIS AGREEMENT.  THE PROVISIONS OF THIS SECTION HAVE BEEN NEGOTIATED BY THE PARTIES AFTER DUE CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE ASSETS OF THE WINTER SUBSIDIARIES THAT MAY ARISE PURSUANT TO ANY LAW NOW OR HEREAFTER IN EFFECT, OR OTHERWISE, EXCEPT AS SET FORTH IN THIS AGREEMENT OR ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT.

 

ARTICLE III
 FURTHER ASSURANCES

 

3.1                                 Further Assurances.  From time to time after the date of this Agreement, and without any further consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and will do all such other acts and things, all in accordance with applicable Law, as may be necessary or appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights, titles, interests, estates, remedies, powers and privileges granted by this Agreement, or which are intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the interests contributed and assigned by this Agreement or intended so to be and (c) to more fully and effectively carry out the purposes and intent of this Agreement.

 

3.2                                 Power of Attorney.  Each Party that has conveyed any Interests as reflected by this Agreement (collectively, the “Conveying Parties”) hereby constitutes and appoints the General Partner (the “Attorney-in-Fact”) its true and lawful attorney-in-fact with full power of substitution for it and in its name, place and stead or otherwise on behalf of the applicable Conveying Party and its successors and assigns, and for the benefit of the Attorney-in-Fact to demand and receive from time to time the Interests contributed and conveyed by this Agreement (or intended so to be) and to execute in the name of the applicable Conveying Party and its

 

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successors and assigns instruments of conveyance, instruments of further assurance and to give receipts and releases in respect of the same, and from time to time to institute and prosecute in the name of the applicable Conveying Party for the benefit of the Attorney-in-Fact, any and all proceedings at law, in equity or otherwise which the Attorney-in-Fact may deem proper in order to (a) collect, assert or enforce any claims, rights or titles of any kind in and to the Interests, (b) defend and compromise any and all actions, suits or proceedings in respect of any of the Interests, and (c) do any and all such acts and things in furtherance of this Agreement as the Attorney-in-Fact shall deem advisable.  Each Conveying Party hereby declares that the appointment hereby made and the powers hereby granted are coupled with an interest and are and shall be irrevocable and perpetual and shall not be terminated by any act of any Conveying Party or its successors or assigns or by operation of law.

 

ARTICLE IV
 MISCELLANEOUS

 

4.1                                 Survival of Representations and Warranties.  The representations and warranties of Golar in this Agreement and in or under any documents, instruments and agreements delivered pursuant to this Agreement, will survive the completion of the transactions contemplated hereby regardless of any independent investigations that the Partnership may make or cause to be made, or knowledge it may have, prior to the date of this Agreement and will continue in full force and effect for a period of one year from the date of this Agreement.  At the end of such period, such representations and warranties will terminate, and no claim may be brought by the Partnership against Golar thereafter in respect of such representations and warranties, except for claims that have been asserted by the Partnership prior to the date of this Agreement.

 

4.2                                 Costs.  The Partnership shall pay any and all sales, use and similar taxes arising out of the contributions, conveyances and deliveries to be made hereunder, and shall pay all documentary, filing, recording, transfer, deed, and conveyance taxes and fees required in connection therewith.

 

4.3                                 Headings; References; Interpretation.  All Article and Section headings in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof.  The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  All references herein to Articles and Sections shall, unless the context requires a different construction, be deemed to be references to the Articles and Sections of this Agreement, respectively.  All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, shall include all other genders, and the singular shall include the plural and vice versa.  The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation,” “but not limited to,” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter.

 

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4.4                                 Successors and Assigns.  The Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns.

 

4.5                                 No Third Party Rights.  The provisions of this Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies and no person is or is intended to be a third party beneficiary of any of the provisions of this Agreement.

 

4.6                                 Counterparts.  This Agreement may be executed in any number of counterparts, all of which together shall constitute one agreement binding on the parties hereto.

 

4.7                                 Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the state of New York, United States of America, applicable to contracts made and to be performed wholly within such jurisdiction without giving effect to conflict of law principles thereof other than Section 5-1401 of the New York General Obligations Law, except to the extent that it is mandatory that the law of some other jurisdiction, wherein the Interests are located, shall apply.

 

4.8                                 Severability.  If any of the provisions of this Agreement are held by any court of competent jurisdiction to contravene, or to be invalid under, the laws of any governmental body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement.  Instead, this Agreement shall be construed as if it did not contain the particular provision or provisions held to be invalid, and an equitable adjustment shall be made and necessary provision added so as to give effect, as nearly as possible, to the intention of the Parties as expressed in this Agreement at the time of execution of this Agreement.

 

4.9                                 Deed; Bill of Sale; Assignment.  To the extent required and permitted by applicable Law, this Agreement shall also constitute a “deed,” “bill of sale” or “assignment” of the Interests.

 

4.10                           Amendment or Modification.  This Agreement may be amended or modified from time to time only by the written agreement of all the Parties hereto.

 

4.11                           Integration.  This Agreement and the instruments referenced herein supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to its subject matter hereof.  This Agreement and such instruments contain the entire understanding of the Parties with respect to the subject matter hereof and thereof.  No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is contained in a written amendment hereto executed by the Parties hereto after the date of this Agreement.

 

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IN WITNESS WHEREOF, this Contribution and Conveyance Agreement has been duly executed by the parties set forth below.

 

	
 
    	
GOLAR LNG LIMITED
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Roger Swan
    
	
 
    	
 
    	
Name: Roger Swan
    
	
 
    	
 
    	
Title: Attorney-in-fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GOLAR GP LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Roger Swan
    
	
 
    	
 
    	
Name: Roger Swan
    
	
 
    	
 
    	
Title: Attorney-in-fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GOLAR LNG PARTNERS LP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Roger Swan
    
	
 
    	
 
    	
Name: Roger Swan
    
	
 
    	
 
    	
Title: Attorney-in-fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GOLAR LNG HOLDING CO.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Roger Swan
    
	
 
    	
 
    	
Name: Roger Swan
    
	
 
    	
 
    	
Title: Attorney-in-fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GOLAR PARTNERS OPERATING   LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Roger Swan
    
	
 
    	
 
    	
Name: Roger Swan
    
	
 
    	
 
    	
Title: Attorney-in-fact
    

 

Signature Page to Contribution AgreementExhibit 4.14

 

Date       April 2011

 

GOLAR LNG LIMITED

as Lender

 

-and-

 

GOLAR LNG PARTNERS L.P.

as Borrower

 

 

LOAN AGREEMENT

 

 

relating to

a US$20,000,000 revolving credit facility

 

WATSON, FARLEY & WILLIAMS

London

 

 

INDEX

 

	
Clause
    	
 
    	
Page
    
	
 
    	
 
    	
 
    
	
1
    	
INTERPRETATION
    	
1
    
	
 
    	
 
    	
 
    
	
2
    	
FACILITY
    	
2
    
	
 
    	
 
    	
 
    
	
3
    	
DRAWDOWN
    	
2
    
	
 
    	
 
    	
 
    
	
4
    	
DEFAULT   INTEREST
    	
2
    
	
 
    	
 
    	
 
    
	
5
    	
REPAYMENT,   PREPAYMENT AND CANCELLATION
    	
3
    
	
 
    	
 
    	
 
    
	
6
    	
CONDITIONS   PRECEDENT
    	
3
    
	
 
    	
 
    	
 
    
	
7
    	
REPRESENTATIONS   AND WARRANTIES
    	
3
    
	
 
    	
 
    	
 
    
	
8
    	
UNDERTAKINGS
    	
4
    
	
 
    	
 
    	
 
    
	
9
    	
PAYMENTS   AND CALCULATIONS
    	
4
    
	
 
    	
 
    	
 
    
	
10
    	
EVENTS OF   DEFAULT
    	
5
    
	
 
    	
 
    	
 
    
	
11
    	
COSTS
    	
6
    
	
 
    	
 
    	
 
    
	
12
    	
INDEMNITIES
    	
6
    
	
 
    	
 
    	
 
    
	
13
    	
NO   SET-OFF OR TAX DEDUCTION
    	
7
    
	
 
    	
 
    	
 
    
	
14
    	
ILLEGALITY
    	
7
    
	
 
    	
 
    	
 
    
	
15
    	
TRANSFERS
    	
8
    
	
 
    	
 
    	
 
    
	
16
    	
NOTICES
    	
8
    
	
 
    	
 
    	
 
    
	
17
    	
SUPPLEMENTAL
    	
9
    
	
 
    	
 
    	
 
    
	
18
    	
LAW AND   JURISDICTION
    	
9
    
	
 
    	
 
    	
 
    
	
SCHEDULE 1 DRAWDOWN NOTICE
    	
11
    
	
 
    	
 
    
	
EXECUTION PAGE
    	
12
    
				

 

 

THIS AGREEMENT is made on        April 2011

 

BETWEEN

 

(1)                                 GOLAR LNG LIMITED, a company incorporated in Bermuda whose registered office is at 14 Par La Ville Place, Par La Ville Road, Hamilton, Bermuda (the “Lender”); and

 

(2)                                 GOLAR LNG PARTNERS L.P., a limited partnership formed in the Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 (the “Borrower)”.

 

IT IS AGREED as follows:

 

1                                         INTERPRETATION

 

1.1                               Definitions.  In this Agreement:

 

“Advance” means the principal amount of each borrowing by the Borrower under this Agreement;

 

“Availability Period” means the period commencing on the date of this Agreement and ending on:

 

(a)                                 the date falling 45 months after the date of this Agreement (or such later date as the Lender may agree with the Borrower); or

 

(b)                                 if earlier, the date on which the Commitment is fully cancelled or terminated;

 

“Available Commitment” means, at any time during the Availability Period, the Commitment less the amount of the Loan at that time;

 

“Business Day”  means a day on which banks are open in London and, in respect of a day on which a payment is required to be made under this Agreement, also in New York City;

 

“Commitment” means $20,000,000 as that amount may be cancelled or terminated in accordance with this Agreement;

 

“Dollars” and “$” means the lawful currency for the time being of the United States of America;

 

“Drawdown Date” means, in relation to an Advance, the date requested by the Borrower for the Advance to be made, or (as the context requires) the date on which the Advance is actually made;

 

“Drawdown Notice” means a notice in the form set out in Schedule 1 (or in any other form approved by the Lender);

 

“Event of Default” means any of the events or circumstances described in Clause 10.1;

 

“IPO” means the initial public offering of shares in the Borrower to be effected with the National Association of Securities Dealers Automated Quotations (NASDAQ);

 

“Loan” means the principal amount for the time being outstanding under this Agreement;

 

“Repayment Date” means, in relation to an Advance, the date falling 6 months after the Drawdown Date for that Advance or, if earlier, the Termination Date; and

 

“Termination Date” means the date falling 48 months after the date of this Agreement.

 

 

1.2                               Clause references.  References in this Agreement to Clauses are, unless otherwise specified, references to clauses of this Agreement.

 

1.3                               References to persons.  References to “person” or “persons” or to words importing persons include, without limitation, individuals, firms, corporations, government agencies, committees, departments, authorities and other bodies, incorporated or unincorporated, whether having distinct legal personality or not.

 

1.4                               Clause headings.  Clause headings are for ease of reference only.

 

2                                         FACILITY

 

2.1                               Amount of facility.  Subject to the other provisions of this Agreement, the Lender shall make a revolving credit facility not exceeding $20,000,000 available to the Borrower.

 

2.2                               Purpose of facility.  The Borrower undertakes to use each Advance to finance its general working capital requirements.

 

3                                         DRAWDOWN

 

3.1                               Request for Advance.  Subject to the following conditions, the Borrower may request an Advance to be made by ensuring that the Lender receives a completed Drawdown Notice not later than 11.00 a.m. (London time) 3 Business Day prior to the intended Drawdown Date.

 

3.2                               Availability.  The conditions referred to in Clause 3.1 are that:

 

(a)                                 a Drawdown Date has to be a Business Day during the Availability Period;

 

(b)                                 the amount of an Advance shall be at least $5,000,000 and shall not exceed the Available Commitment; and

 

(c)                                  the aggregate amount of the Advances shall not exceed the Commitment.

 

3.3                               Drawdown Notice irrevocable.  A Drawdown Notice must be signed by an officer of the Borrower; and once served, a Drawdown Notice cannot be revoked without the prior consent of the Lender.

 

3.4                               Disbursement of Advance.  Subject to the provisions of this Agreement, the Lender shall on each Drawdown Date make each Advance to the Borrower; and payment to the Borrower shall be made to the account which the Borrower specifies in the Drawdown Notice.

 

4                                         DEFAULT INTEREST

 

4.1                               Payment of default interest on overdue amounts.  The Borrower shall pay interest in accordance with the following provisions of this Clause 4 on any amount payable by the Borrower under this Agreement which the Lender does not receive on or before the Termination Date or, if payable on demand, the date on which the demand is served or, if immediately due and payable under this Agreement, the date on which it became immediately due and payable.

 

4.2                              Default rate of interest.  Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate of 2 per cent. per annum.

 

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4.3                               Payment of accrued default interest.  Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined.

 

4.4                               Compounding of default interest.  Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

 

5                                         REPAYMENT, PREPAYMENT AND CANCELLATION

 

5.1                               Repayment Date for each Advance.  Each Advance shall be repaid in full on the Repayment Date applicable to it.

 

5.2                               Deemed repayment.  In respect of an Advance, if no repayment is made on the Repayment Date for that Advance then the Advance shall be deemed to have been repaid by a further Advance in the same amount which shall be deemed to have been drawn down on the Repayment Date for the original Advance.  For the avoidance of doubt, this Clause only applies in respect of amounts due on Repayment Dates and not in respect of amounts due on the Termination Date.

 

5.3                               Additional payments on Termination Date.  On the Termination Date, the Borrower shall repay any Advance then outstanding in full and shall additionally pay to the Lender all other sums, if any, then owing or accrued under this Agreement.

 

5.4                               Voluntary prepayment.  The Borrower may prepay the whole (but not part only) of an Advance on giving at least 10 days’ prior written notice to the Lender.

 

5.5                               Effect of notice of prepayment.  A prepayment notice may not be withdrawn or amended without the consent of the Lender and the amount specified in the prepayment notice shall become due and payable by the Borrower on the date for prepayment specified in the prepayment notice.

 

5.6                               Amounts payable on prepayment.  A prepayment shall be made together with any amount payable under Clause 12 or otherwise under this Agreement in respect of the amount prepaid.

 

5.7                               Reborrowing permitted.  Subject to the terms of this Agreement, any amount repaid or prepaid may be reborrowed.

 

5.8                               Effect of notice of cancellation.  The service of a cancellation notice shall cause the amount of the Commitment specified in the notice to be permanently cancelled.

 

6                                         CONDITIONS PRECEDENT

 

6.1                               Conditions.  The Lender’s obligation to make an Advance is subject to the following conditions precedent:

 

(a)                                 that, on or before the service of the first Drawdown Notice, the IPO shall have taken place; and

 

(b)                                that, on the Drawdown Date, but prior to the making of the Advance, no Event of Default has occurred and is continuing or would result from the borrowing of the Advance.

 

7                                         REPRESENTATIONS AND WARRANTIES

 

7.1                               Borrower’s representations and warranties.  The Borrower represents and warrants to the Lender that the following statements are, at the date hereof, true and accurate:

 

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(a)                                 it is duly formed with limited liability under the laws of the Republic of the Marshall Islands and has full power and authority to enter into and perform its obligations under this Agreement;

 

(b)                                 the execution, delivery and performance of this Agreement:

 

(i)            have been duly authorised by all necessary corporate action on its part; and

 

(ii)           do not contravene any applicable law, regulation or order binding on it or any of its assets or its constitutional documents;

 

(c)                                  neither the execution, delivery and performance by it of this Agreement require the consent or approval of, the giving of notice to, the registration with, or the taking of any other action in respect of, any relevant governmental authority or agency, except such as have been obtained and are in full force and effect; and

 

(d)                                 this Agreement constitutes its legal, valid and binding obligations.

 

7.2                               Survival of representations and warranties.  The representations and warranties given in this Clause 7 shall survive the execution of this Agreement.

 

8                                         UNDERTAKINGS

 

8.1                               General.  The Borrower undertakes with the Lender to comply with the following provisions of this Clause 8 at all times whilst it has any outstanding obligations or liabilities under this Agreement, except as the Lender may otherwise permit.

 

8.2                               Notification of Event of Default.  The Borrower will promptly inform the Lender of any event which constitutes or may constitute an Event of Default or which may adversely affect the Borrower’s ability to perform its obligations under this Agreement.

 

8.3                               Information.  The Borrower will deliver to the Lender such financial or other information in respect of its business and financial status as the Lender may reasonably require including, but not limited to, copies of its unaudited quarterly financial statements and of its audited annual financial statements.

 

9                                         PAYMENTS AND CALCULATIONS

 

9.1                               Currency and method of payments All payments to be made by the Borrower to the Lender under this Agreement shall be made to the Lender:

 

(a)                                 by not later than 11.00 a.m. (New York City time) on the due date;

 

(b)                                 in same day Dollar funds; and

 

(c)                                  to such account of the Lender as the Lender may from time to time notify to the Borrower.

 

9.2                              Payment on non-Business Day.  If any payment by the Borrower under this Agreement would otherwise fall due on a day which is not a Business Day:

 

(a)                                 the due date shall be extended to the next succeeding Business Day; or

 

(b)                                 if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day.

 

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9.3                               Basis for calculation of periodic payments.  Default interest shall accrue from day to day and shall be calculated on the basis of the actual number of days elapsed and a 360 day year.

 

10                                  EVENTS OF DEFAULT

 

10.1                        Events of Default.  An Event of Default occurs if:

 

(a)                                 the Borrower fails to pay when due any sum payable under this Agreement unless such failure is due to a technical breakdown or communication error in which case the Borrower shall rectify such non-payment within 3 Business Days of it having been notified of the missed payment by the Lender; or

 

(b)                                 any breach by the Borrower occurs of any provision of this Agreement (other than a breach covered by paragraph (a)) which, in the opinion of the Lender, is capable of remedy and which continues unremedied 10 Business Days after receipt by the Borrower of a written request from the Lender that the breach be remedied; or

 

(c)                                  any information given by the Borrower to the Lender in relation to this Agreement proves to be misleading or materially inaccurate or incorrect when made; or

 

(d)                                 any other loan, guarantee or other obligation of the Borrower exceeding $10,000,000 is declared (or is capable of being declared) by the relevant creditor or creditors due prematurely due to a default, to non-payment or any security in respect thereof becomes enforceable; or

 

(e)                                  a lien, arrest, distress or similar event is levied upon or against any substantial part of the assets of the Borrower which is not discharged or disputed in good faith within 10 Business Days after the Borrower has become aware of the same; or

 

(f)                                   a substantial part of the Borrower’s business or assets is destroyed, abandoned, seized, appropriated or forfeited for any reason; or

 

(g)                                  any order shall be made by any competent court or resolution passed by the Borrower for the appointment of a liquidator, administrator or receiver of, or for the winding-up of, the Borrower; or

 

(h)                                 an encumbrancer takes possession of or a receiver is appointed of the whole or, in the opinion of the Lender, any material part of the assets of the Borrower or a distress, execution or other process is levied or enforced upon or sued out against the whole or, in the opinion of the Lender, a material part of the assets of the Borrower; or

 

(i)                                     the Borrower shall stop payment or shall be unable to, or shall admit inability to, pay its debts as they fall due, or shall be adjudicated or found bankrupt or insolvent, or shall enter into any composition or other arrangement with its creditors generally; or

 

(j)                                    any event shall occur which under the law of any jurisdiction to which the Borrower is subject has an effect equivalent or similar to any of the events referred to in Clause 10.1(c), (d) or (e); or

 

(k)                                the Borrower ceases or suspends or threatens to cease or suspend the carrying on of its business or a part of its business or disposes of or threatens to dispose of a substantial part of its business or assets which, in the opinion of the Lender, is material in the context of this Agreement; or

 

(l)                                     it becomes unlawful for the Borrower to fulfil its obligations under this Agreement; or

 

(m)                             Golar GP LLC ceases to be the General Partner of the Borrower; or

 

5

 

(n)                                 the constitutional documents of the Borrower are amended or varied in any way which is, in the reasonable opinion of the Lender, adverse to its interests in connection with this Agreement.

 

10.2                        Actions following an Event of Default.  On, or at any time after, the occurrence of an Event of Default the Lender may:

 

(a)                                 serve on the Borrower a notice stating that all obligations of the Lender to the Borrower under this Agreement are cancelled; and/or

 

(b)                                 serve on the Borrower a notice stating that the Loan, any accrued default interest and all other amounts owing under this Agreement are immediately due and payable or are due and payable on demand; and/or

 

(c)                                  take any other action which, as a result of the Event of Default or any notice served under paragraph (a) or (b), the Lender is entitled to take under this Agreement or any applicable law.

 

10.3                        Termination of obligations.  On the service of a notice under Clause 10.2(a), all the obligations of the Lender to the Borrower under this Agreement shall terminate.

 

10.4                        Acceleration of Loan.  On the service of a notice under Clause 10.2(b), the Loan and all other amounts accrued or owing from the Borrower under this Agreement shall become immediately due and payable or, as the case may be, payable on demand.

 

11                                  COSTS

 

11.1                        Costs.  The Borrower shall pay all reasonable costs incurred by the Lender in connection with the preparation of this Agreement and any and all other costs incurred by the Lender in connection with the facility provided pursuant to this Agreement.

 

12                                  INDEMNITIES

 

12.1                        Indemnities regarding the borrowing and repayment of Loan.  The Borrower shall fully indemnify the Lender on its demand in respect of all claims, expenses, liabilities and losses which are made or brought against or incurred by the Lender, or which the Lender reasonably and with due diligence estimates that it will incur, as a result of or in connection with:

 

(a)                                 an Advance not being borrowed on the date specified in the Drawdown Notice for any reason other than a default by the Lender;

 

(b)                                 the receipt or recovery of all or any part of the Loan or an overdue sum otherwise than on a Repayment Date or the Termination Date or other relevant date;

 

(c)                                  any failure (for whatever reason) by the Borrower to make payment of any amount due under this Agreement on the due date or, if so payable, on demand; and

 

(d)                                the occurrence of an Event of Default and/or the acceleration of repayment of the Loan under Clause 10,

 

and in respect of any tax (other than tax on its overall net income) for which the Lender is liable in connection with any amount paid or payable to the Lender (whether for its own account or otherwise) under this Agreement.

 

12.2                        Breakage costs.  Without limiting its generality, Clause 12.1 covers any claim, expense, liability or loss, including a loss of a prospective profit, incurred by the Lender in liquidating or employing deposits from third parties acquired or arranged to fund or

 

6

 

maintain all or any part of the Loan and/or any overdue amount (or an aggregate amount which includes the Loan or any overdue amount).

 

13                                  NO SET-OFF OR TAX DEDUCTION

 

13.1                        No deductions.  All amounts due from the Borrower under this Agreement shall be paid:

 

(a)                                 without any form of set-off, cross-claim or condition; and

 

(b)                                 free and clear of any tax deduction except a tax deduction which the Borrower is required by law to make.

 

13.2                        Grossing-up for taxes.  If the Borrower is required by law to make a tax deduction from any payment:

 

(a)                                 the Borrower shall notify the Lender as soon as it becomes aware of the requirement;

 

(b)                                 the Borrower shall pay the tax deducted to the appropriate taxation authority promptly, and in any event before any fine or penalty arises; and

 

(c)                                  the amount due in respect of the payment shall be increased by the amount necessary to ensure that the Lender receives and retains (free from any liability relating to the tax deduction) a net amount which, after the tax deduction, is equal to the full amount which it would otherwise have received.

 

13.3                        Exclusion of tax on overall net income.  In this Clause 13  “tax deduction” means any deduction or withholding for or on account of any present or future tax except tax on the Lender’s overall net income.

 

14                                  ILLEGALITY

 

14.1                        Illegality.  This Clause 14 applies if the Lender notifies the Borrower that it has become, or will with effect from a specified date, become:

 

(a)                                 unlawful or prohibited as a result of the introduction of a new law, an amendment to an existing law or a change in the manner in which an existing law is or will be interpreted or applied; or

 

(b)                                 contrary to, or inconsistent with, any regulation,

 

for the Lender to maintain or give effect to any of its obligations under this Agreement in the manner contemplated by this Agreement.

 

14.2                        Notification and effect of illegality.  On the Lender notifying the Borrower under Clause 14.1, the Commitment shall terminate; and thereupon or, if later, on the date specified in the Lender’s notice under Clause 14.1 as the date on which the notified event would become effective the Borrower shall prepay the Loan in full.

 

14.3                       Mitigation.  If circumstances arise which would result in a notification under Clause 14.114.1 then, without in any way limiting the rights of the Lender under Clause 14.2, the Lender shall use reasonable endeavours to transfer its obligations, liabilities and rights under this Agreement to a subsidiary not affected by the circumstances but the Lender shall not be under any obligation to take any such action if, in its opinion, to do would or might:

 

(a)                                 have an adverse effect on its business, operations or financial condition; or

 

7

 

(b)                                 involve it in any activity which is unlawful or prohibited or any activity that is contrary to, or inconsistent with, any regulation; or

 

(c)                                  involve it in any expense (unless indemnified to its satisfaction) or tax disadvantage.

 

15                                  TRANSFERS

 

15.1                        No Transfers.  Neither party may, without the consent of the other party, transfer any of its rights, liabilities or obligations under this Agreement.

 

16                                  NOTICES

 

16.1                        General.  Unless otherwise specifically provided, any notice under or in connection with this Agreement shall be given by letter or fax and shall be effective upon receipt; and references in this Agreement to written notices, notices in writing and notices signed by particular persons shall be construed accordingly.

 

16.2                        Addresses for communications.  A notice by letter or fax shall be sent:

 

(a)                                 to the Lender:

 

	
Golar LNG Limited
    
	
P O Box HM1593
    
	
Par La Ville Place, 4th Floor
    
	
Par La Ville Road
    
	
Hamilton
    
	
HM9X Bermuda
    
	
 
    
	
Fax:
    	
+441 295 3494
    
	
Attention:
    	
The President
    
	
 
    	
 
    
	
with a copy to:
    
	
 
    
	
Golar Management Limited
    
	
13th Floor, One America Square
    
	
17 Crosswall
    
	
London EC3N 2LB
    
	
 
    	
 
    
	
Fax:
    	
+44(0) 20 7063 7901
    
	
Attention:
    	
Chief Accounting Officer
    

 

(b)                                 to the Borrower:

 

	
c/o Golar LNG Limited
    
	
P O Box HM1593
    
	
Par La Ville Place, 4th Floor
    
	
Par La Ville Road
    
	
Hamilton
    
	
HM9X Bermuda
    
	
 
    	
 
    
	
Fax:
    	
+441 295 3494
    
	
Attention:
    	
The President
    
	
 
    	
 
    
	
with a copy to:
    
	
 
    
	
Golar Management Limited
    
	
13th Floor, One America Square
    
	
17 Crosswall
    

 

8

 

London EC3N 2LB

 

Fax:                                                                           +44(0) 20 7063 7901

Attention:                                         Chief Accounting Officer

 

or to such other address as the relevant party may notify the other.

 

17                                  SUPPLEMENTAL

 

17.1                        Rights cumulative.  The rights and remedies which this Agreement gives to the Lender are:

 

(a)                                  cumulative;

 

(b)                                 may be exercised as often as appears expedient; and

 

(c)                                  shall not, unless explicitly and specifically stated so, be taken to exclude or limit any right or remedy conferred by any law.

 

17.2                        Severability.  If any provision of this Agreement is or subsequently becomes void, unenforceable or illegal, that shall not affect the validity, enforceability or legality of the other provisions of this Agreement.

 

17.3                        Third party rights.  A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Agreement.

 

18                                  LAW AND JURISDICTION

 

18.1                        English law.  This Agreement shall be governed by, and construed in accordance with, English law.

 

18.2                        Exclusive English jurisdiction.  Subject to Clause 18.3, the courts of England shall have exclusive jurisdiction to settle any Dispute.

 

18.3                        Choice of forum for the exclusive benefit of the Lender.  Clause 18.2 is for the exclusive benefit of the Lender, which reserves the rights:

 

(a)                                  to commence proceedings in relation to any Dispute in the courts of any country other than England and which have or claim jurisdiction to that Dispute; and

 

(b)                                 to commence such proceedings in the courts of any such country or countries concurrently with or in addition to proceedings in England or without commencing proceedings in England.

 

The Borrower shall not commence any proceedings in any country other than England in relation to a Dispute.

 

18.4                        Process agent.  The Borrower irrevocably appoints Golar Management Limited at its registered office for the time being, presently at 13th Floor, One America Square, 17 Crosswall, London EC3N 2LB, to act as its agent to receive and accept on its behalf any process or other document relating to any proceedings in the English courts which are connected with a Dispute.

 

18.5                        Lender’s rights unaffected.  Nothing in this Clause18 shall exclude or limit any right which the Lender may have (whether under the law of any country, an international convention or otherwise) with regard to the bringing of proceedings, the service of

 

9

 

process, the recognition or enforcement of a judgment or any similar or related matter in any jurisdiction.

 

18.6                        Meaning of “proceedings”.  In this Clause 18, “proceedings” means proceedings of any kind, including an application for a provisional or protective measure and a “Dispute” means any dispute arising out of or in connection with this Agreement (including a dispute relating to the existence, validity or termination of this Agreement).

 

THIS AGREEMENT has been entered into on the date stated at the beginning of this Agreement.

 

10

 

SCHEDULE 1

 

DRAWDOWN NOTICE

 

To:                              Golar LNG Limited,

14 Par La Ville Place, P

Par La Ville Road,

Hamilton, Bermuda

 

Attention: The President

 

Cc:                               Golar Management Limited

13th Floor, One America Square

17 Crosswall

London EC3N 2LB

 

Attention: Chief Accounting Officer

 

[·] 2011

 

1                                         We refer to the loan agreement (the “Loan Agreement”) dated [·] April 2011 and made between us as Borrower and you as Lender in connection with a revolving credit facility of up to US$20,000,000.  Terms defined in the Loan Agreement have their defined meanings when used in this Drawdown Notice.

 

2                                         We request to borrow as follows:-

 

(a)                                  Amount: US$[·];

 

(b)                                 Drawdown Date:  [·];

 

(c)                                  Payment instructions : account in our name and numbered [·] with [·] of [·].

 

3                                         We represent and warrant that no Event of Default or has occurred or will result from the borrowing of the Loan.

 

4                                         We confirm that we will indemnity you against any loss or expecnse which you may sustain or incur as a consequence of the Advance not being drawn, including but not limited to any loss or expenses incurred by you to fund the Advance.

 

5                                        This notice cannot be revoked without the prior consent of the Lender.

 

Yours faithfully

 

	
 
    	
 
    
	
Name:
    	
 
    
	
Title:
    	
 
    
	
for and on behalf of
    	
 
    
	
GOLAR LNG PARTNERS L.P.
    	
 
    

 

11

 

EXECUTION PAGE

 

BORROWER

 

	
SIGNED by Brian Tienzo
    	
)
    	
/s/ Brian Tienzo
    	
 
    
	
 
    	
)
    	
 
    	
 
    
	
for and on behalf of
    	
)
    	
 
    	
 
    
	
GOLAR LNG LIMITED
    	
)
    	
 
    	
 
    
	
in the presence of:
    	
)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
LENDER
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
SIGNED by Roger Swan
    	
)
    	
/s/ Roger Swan
    	
 
    
	
 
    	
)
    	
 
    	
 
    
	
for and on behalf of
    	
)
    	
 
    	
 
    
	
GOLAR LNG PARTNERS L.P.
    	
)
    	
 
    	
 
    
	
in the presence of:
    	
)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
WITNESSED by
    	
 
    	
/s/ Stuart Buchanan
    	
 
    
	
Stuart Buchanan
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Golar Management Ltd.
    	
 
    	
 
    	
 
    
	
One America Square
    	
 
    	
 
    	
 
    
	
17 Crosswell
    	
 
    	
 
    	
 
    
	
London
    	
 
    	
 
    	
 
    
	
EC3N 2L8
    	
 
    	
 
    	
 
    

 

12

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