Document:

exv4w5

Exhibit 4.5

REAFFIRMATION AGREEMENT

     This REAFFIRMATION AGREEMENT, dated as of February 11, 2010 (this “Agreement”), is
entered into by and among McJunkin Red Man Corporation, a West Virginia corporation (the
“Issuer”), each of the Subsidiaries of the Issuer listed on the signature pages hereto
(each such entity being a “Subsidiary Grantor” and, collectively, the “Subsidiary
Grantors”) and U.S. Bank National Association, as Collateral Trustee (such term and each other
capitalized term, unless otherwise specified herein, shall have the meanings ascribed to them in
the Indenture described below).

     WHEREAS, reference is made to (a) that certain Indenture, dated as of December 21, 2009 (the
“Indenture”), by and among the Issuer, McJunkin Red Man Holding Corporation, a Delaware
corporation (“Holdings” and, together with the Issuer and the Subsidiary Grantors, the
“Reaffirming Parties”), the Subsidiary Grantors and U.S. Bank National Association, as
trustee thereunder, and (b) that certain Purchase Agreement, dated as of February 8, 2010 (the
“Purchase Agreement”), among the Issuer, Holdings, the Subsidiary Grantors and Goldman,
Sachs & Co. and Barclays Capital Inc. as representatives of the purchasers named therein;

     WHEREAS, each Reaffirming Party (other than Holdings) is party to one or more of the Security
Documents;

     WHEREAS, each Reaffirming Party has realized, and continues to realize, substantial direct and
indirect benefits as a result of the Indenture becoming effective and the consummation of the
transactions contemplated thereby, including the issuance and sale of $50,000,000 aggregate
principal amount of Notes on the date hereof under the Indenture pursuant to the Purchase Agreement
(the “Add-On Notes”);

     WHEREAS, each Reaffirming Party expects to realize substantial direct and indirect benefits as
a result of the Purchase Agreement becoming effective and the consummation of the transactions
contemplated thereby; and

     WHEREAS, the execution and delivery of this Agreement is a condition precedent to the
consummation of the transactions contemplated by the Purchase Agreement.

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

ARTICLE I

Reaffirmation and Acknowledgment

     SECTION 1.01 Reaffirmation.

     Each Reaffirming Party hereby consents to the Purchase Agreement and the transactions contemplated
thereby and hereby ratifies and reaffirms all payment and performance obligations, contingent or
otherwise, and undertakings arising under or pursuant to its respective agreements, guarantees,
pledges and grants of security interests and Liens, as applicable, under and subject to

 

 

the terms of the Indenture and each Security Document to which it is party, and agrees that,
notwithstanding the effectiveness of the Purchase Agreement and the consummation of the
transactions contemplated thereby, such guarantees, pledges and grants of security interests and
Liens are in full force and effect and shall hereafter continue to guarantee the Obligations under
the Priority Lien Documents and secure the “Obligations” (under and as defined in the Security
Agreement), as applicable.

     SECTION
1.02 Acknowledgment.

     Each
of the Reaffirming Parties acknowledges that (a) the Add-On Notes are “Additional Notes” (under
and as defined in the Indenture), (b) the Holders from time to time of the Add-On Notes are (i)
“Additional Senior Secured Notes Secured Parties” (under and as defined in the Intercreditor
Agreement), (ii) holders of “Priority Lien Obligations” (under and as defined in the Collateral
Trust Agreement) and (iii) “Additional Senior Secured Notes Secured Parties” (under and as defined
in the Security Agreement) and (c) all obligations of the Reaffirming Parties in respect of the
Add-On Notes are (i) “Additional Senior Secured Notes Obligations” (under and as defined in the
Intercreditor Agreement), (ii) “Priority Lien Obligations” (under and as defined in the Collateral
Trust Agreement) and (iii) and “Obligations” (under and as defined in the Security Agreement).

ARTICLE II

Miscellaneous

     SECTION 2.01 Senior Secured Notes Document; Priority Lien Document.

     This Agreement is (i) a “Senior Secured Notes Document” (under and as defined in the
Intercreditor Agreement), (ii) a “Priority Lien Document” (under and as defined in the Collateral
Trust Agreement) and (iii) a “Senior Secured Notes Document” (under and as defined in the Security
Agreement).

     SECTION 2.02 Effectiveness; Counterparts.

     This Agreement shall become effective on the date when copies hereof (which, when taken
together, bear the signatures of each of the Reaffirming Parties set forth on the signature pages
hereto and the Collateral Trustee) shall have been received by the Collateral Trustee. This
Agreement may not be amended nor may any provision hereof be waived except with the prior written
consent of all parties hereto. This Agreement may be executed in two or more counterparts, each of
which shall constitute an original but all of which when taken together shall constitute but one
contract. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or
other electronic transmission shall be effective as delivery of a manually executed counterpart of
this Agreement.

     SECTION 2.03 No Novation; No Offset.

     This Agreement shall not discharge, release or modify the obligations for the payment of money
outstanding under the Notes or the perfection or priority of any Security Document, any Lien
thereunder or any other security therefor. Nothing herein contained shall be construed as a

2

 

substitution or novation of the obligations outstanding under the Notes or instruments securing
such obligations, which shall remain in full force and effect. Nothing in this Agreement shall be
construed as a release or other discharge of any Reaffirming Party under any Security Document from
any of its obligations and liabilities under the Notes or the Security Documents. Each Reaffirming
Party acknowledges that on the date hereof all outstanding Obligations under the Priority Lien
Documents are payable in accordance with their terms.

     SECTION 2.04 GOVERNING LAW.

     THIS AGREEMENT AND THE RIGHTS AND OBLIGATION OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. THE “SUBMISSION TO JURISDICTION; WAIVERS” PROVISIONS OF THE
INTERCREDITOR AGREEMENT ARE INCORPORATED HEREIN BY REFERENCE.

     SECTION
2.05 No Amendments.

     Except as expressly set forth herein, no amendments to any documents are intended hereby.

[Signature Pages Follow]

3

 

     IN WITNESS WHEREOF, each Reaffirming Party and the Collateral Trustee have caused this
Agreement to be duly executed by their respective authorized officers as of the day and year first
above written.

	 	 	 	 	 
	 	Issuer:

MCJUNKIN RED MAN CORPORATION (f/k/a

McJunkin Corporation)

 	 
	 	By  	/s/ Andrew Lane
 	 
	 	 	Name:  	Andrew Lane 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 
	 	Holdings:

MCJUNKIN RED MAN HOLDING CORPORATION

 	 
	 	By  	/s/ Andrew Lane
 	 
	 	 	Name:  	Andrew Lane 	 
	 	 	Title:  	Chairman of the Board, 
President and Chief Executive Officer 	 
	 
	 	Subsidiary Grantors:

MCJUNKIN RED MAN DEVELOPMENT

CORPORATION

MCJUNKIN NIGERIA LIMITED

MCJUNKIN-PUERTO RICO CORPORATION

MILTON OIL & GAS COMPANY

GREENBRIER PETROLEUM CORPORATION

RUFFNER REALTY COMPANY

MCJUNKIN-WEST AFRICA CORPORATION

MRC MANAGEMENT COMPANY

MRM OKLAHOMA MANAGEMENT LLC

MIDWAY- TRISTATE CORPORATION

 	 
	 	By:  	/s/ Andrew Lane
 	 
	 	 	Name:  	Andrew Lane 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

Reaffirmation Agreement

 

 

	 	 	 	 	 
	 	Acknowledged and Agreed to by:

U.S. BANK NATIONAL ASSOCIATION, as Collateral Trustee

 	 
	 	By:  	/s/ Richard Prokosch
 	 
	 	 	Name:  	Richard Prokosch 	 
	 	 	Title:  	Vice President 	 
	 

Reaffirmation Agreementexv10w1w10

Exhibit 10.1.10

JOINDER AGREEMENT

JOINDER
AGREEMENT, dated as of January 2, 2009 (this “Agreement”), by and among Barclays Bank PLC
(a “New Loan Lender”), 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); and

     WHEREAS, subject to the terms and conditions of the Credit Agreement, the Borrower may
establish New Revolving Credit Commitments by, among other things, entering into one or more
Joinder Agreements with New Revolving Loan Lenders, as applicable.

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

     SECTION 1. The New Loan Lender party hereto hereby agrees to commit to provide its
respective New Revolving Credit Commitment, as set forth on Schedule A annexed hereto, on the terms
and subject to the conditions set forth below:

     SECTION 2. The New Loan Lender (a) confirms that it has received a copy of the Credit
Agreement and the other Credit Documents, together with copies of the financial statements referred
to therein and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Agreement; (b) agrees that it will, independently
and without reliance upon the Administrative Agent or any other New Loan Lender or any other Lender
or Agent and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Credit
Agreement; (c) appoints and authorizes the Administrative Agent to take such action as agent on its
behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are
delegated to the Administrative Agent by the terms thereof, together with such powers as are
reasonably incidental thereto; and (d) agrees that it will perform in accordance with their terms
all of the obligations which by the terms of the Credit Agreement are required to be performed by
it as a New Revolving Loan Lender.

     SECTION 3. The New Loan Lender hereby agrees to make its respective Commitment on the
following terms and conditions:

     a. Credit Agreement Governs. Except as set forth in this Agreement, the New
Revolving Loans shall otherwise be subject to the provisions of the Credit Agreement and the other
Credit Documents.

 

 

     b. Borrower Certifications. By its execution of this Agreement, the undersigned
officer, to the best of his or her knowledge, and Borrower hereby certifies that (i) the
representations and warranties contained in the Credit Agreement and the other Credit
Documents are true and correct in all material respects on and as of the date hereof to the
same extent as though made on and as of the date hereof, except to the extent such representations
and warranties expressly relate to an earlier date, in which case such representations and
warranties
were true and correct in all material respects on and as of such earlier date; (ii) no Default
or Event of Default exists on the date hereof (both before and after giving to the New Revolving
Credit Commitment contemplated by this Agreement); and (iii) Borrower has performed in all
material respects all agreements and satisfied all conditions which the Credit Agreement
(including, without limitation, Section 2.14(a)(y) thereof) provides shall be performed or
satisfied by it on or before the date hereof.

     c. Borrower Covenants. By its execution of this Agreement, Borrower hereby
covenants that: (i) it shall make any payments required pursuant to Section 2.11 of the Credit
Agreement in connection with the New Revolving Credit Commitments; and (ii) it shall deliver
or cause to be delivered the following legal opinions and documents: executed legal opinions
of Simpson Thacher & Bartlett, special counsel to the Borrower, and Bowles Rice McDavid Graff
& Love LLP, special counsel to the Borrower, a certificate executed by a Financial Officer of
the Borrower attaching calculations evidencing compliance with Section 2.14(a)(y) of the Credit
Agreement and all other documents reasonably requested by the Administrative Agent in
connection with this Agreement.

     d. Notice. For purposes of the Credit Agreement, the initial notice address of the
New Loan Lender shall be as set forth below its signature below.

     e. Tax Forms. For the New Loan Lender, delivered herewith to the
Administrative Agent are such forms, certificates or other evidence with respect to United States
federal income tax withholding matters as the New Loan Lender may be required to deliver to the
Administrative Agent pursuant to Section 5.4(d) and/or Section 5.4(e) of the Credit
Agreement.

     f. Recordation of the New Loans. Upon execution and delivery hereof, the
Administrative Agent will record the New Revolving Loans, made by the New Loan Lender in the
Register.

     g. Amendment, Modification and Waiver. This Agreement may not be amended, modified
or waived except by an instrument or instruments in writing signed and delivered on behalf of each
of the parties hereto.

     h. Entire Agreement. This Agreement, the Credit Agreement and the other Credit
Documents constitute the entire agreement among the parties with respect to the subject matter
hereof and thereof and supersede all other prior agreements and understandings, both written and
verbal, among the parties or any of them with respect to the subject matter hereof.

     i. GOVERNING
LAW. 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.

     j. Severability. Any term or provision of this Agreement which is invalid or unenforceable
in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity
or unenforceability without rendering invalid or unenforceable the remaining terms and provisions
of this Agreement or affecting the validity or enforceability of any of the terms or provisions of
this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be
unenforceable, such provision shall be interpreted to be only so broad as would be enforceable.

     k. 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 Agreement 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 Agreement

 

 

	 	 	 	 	 	 	 	 	 	 	 

	 	 	BARCLAYS BANK PLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Douglas Bernegger	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name:	 	DOUGLAS BERNEGGER	 	 
	 	 	 	 	Title:	 	DIRECTOR	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Notice Address:	 	c/o Barclays Capital	 	 
	 

	 	 	 	 	 	 	 	745
7th Avenue, 21st Floor	 	 
	 

	 	 	 	 	 	 	 	New York, NY 10119	 	 
	 	 	 	 	Attention:	 	Maria Lund	 	 
	 	 	 	 	Telephone:	 	(212) 526-1456	 	 
	 	 	 	 	Facsimile:	 	(212) 526-5115	 	 

MCJUNKIN RED MAN CORPORATION

Joinder Agreement

 

 

	 	 	 	 	 
	 	Consented to by:

THE CIT GROUP/BUSINESS CREDIT, INC.,

as Administrative Agent

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

MCJUNKIN RED MAN CORPORATION

Joinder Agreement

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