Document:

exh10-13.htm

    
      Exhibit
10.13

      PIPELINE
EASEMENT AGREEMENT

      

      

      This
Pipeline Easement Agreement (this “Agreement”) is executed by and among SEMGROUP
ENERGY PARTNERS, L.L.C., a Delaware Limited Liability Company ("SGLP"), and
SEMGROUP CRUDE STORAGE, L.L.C., a Delaware limited liability Company ("SGCS")
(collectively referred to herein as "Grantor"), and WHITE CLIFFS PIPELINE,
L.L.C., a Delaware limited liability company ("Grantee");

      

      WHEREAS,
SGLP is the owner of record of certain real property located in Payne County,
State of Oklahoma, described more fully in Exhibit B attached
hereto (the "SGLP Property"); and

      

      WHEREAS,
SGCS is the owner of record of certain real property located in Payne County,
State of Oklahoma, described more fully in Exhibit C attached
hereto (the "SGCS Property"); and

      

      WHEREAS,
SemCrude, L.P., SemGroup, L.P., SemMaterials, L.P. and SemManagement, L.L.C. and
SemGroup Energy Partners, L.P., SGLP, SemGroup Crude Storage, L.L.C., SemPipe
G.P., L.L.C., SemPipe, L.P., SemMaterials Energy Partners, L.L.C. and SGLP
Asphalt, L.L.C. have entered into a Master Agreement, dated as of the date
hereof (the “Master Agreement”);

      

      NOW,
THEREFORE, for and in consideration of Ten Dollars and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
SGLP and SGCS do hereby grant, bargain, sell and convey unto Grantee the
following non-exclusive easements over and across their respective properties
and premises situated in Payne County, Oklahoma, more particularly described on
Exhibit A,
pages 1 through 4 attached hereto:

      

      A
permanent easement approximately twenty (20) feet in width more particularly
described on Exhibit A", pages 1 – 3, to construct, install, test, maintain,
inspect, operate, protect, and repair a crude oil pipeline upon and along a
route or routes on, in, over, under, through and across the SGLP Property and
the SGCS Property located in Payne County, Oklahoma (the "Permanent Easement");
and

      

      A
permanent easement approximately sixty-five (65) feet square more particularly
described on Exhibit "A", page 4,  to construct, install, test,
maintain, inspect, operate, protect and repair a surface facility (the “Surface
Facility Easement”); and

      

      Together
with the reasonable right of ingress and egress to, from and along the Permanent
Easement and the Surface Facility Easement and the right to use gates and
existing roads for the aforesaid purposes, such rights of ingress and egress
over the SGLP Property and the SGCS Property being referred to herein as the
"Access Easement"; and

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      A
temporary work space easement from time to time as reasonably necessary of sixty
(60) feet in width with such temporary work space easement being twenty (20)
feet on either side of the Permanent Easement described on Exhibit "A" hereof
(the "Work Space Easement") (the Permanent Easement, the Surface Facility
Easement, the Access Easement and the Work Space Easement, collectively referred
to herein as the "Easement Rights Area");

      

      for the
use of Grantee for its pipeline and related facilities, over, through and upon
the same.

      

      For the consideration above recited and
the mutual covenants and conditions herein contained, the parties further agree
as follows:

      

      
        	
                1.  

              	
                Grantor
      and its successors and assigns shall have the right to use and fully enjoy
      the Easement Rights Area, subject to the easements hereby granted;
      provided, however, that Grantor agrees that it will not construct nor
      permit to be constructed any lakes, ponds or buildings upon or over the
      Easement Rights Area without the written consent of Grantee, which consent
      shall not be unreasonably withheld.

              

      

       

      
        	
                2.  

              	
                Grantee
      agrees as follows:

              

      

       

      
        	
                A.

              	
                All
      uses of the Grantor’s property are made at the risk of the
      Grantee.  Grantee shall comply with work safety rules,
      regulations, instructions and scheduling concerning the use of the
      Grantor’s property.  Any construction hereunder shall be done at
      the sole risk of the Grantee, and not at the Grantor’s
      risk.  Grantee shall keep and maintain the improvements of
      Grantee in good condition and repair, and shall make all repairs,
      replacements and renewals, foreseen and unforeseen, ordinary or
      extraordinary, in order to maintain the same in such state of condition
      and repair.

              

      

       

      
        	
                B.

              	
                Grantee
      shall operate and maintain its improvements located on the Easement Rights
      Area, without undue interference with the operations of the Grantor, or
      its tenants, licensees, guests, or invitees.  Grantee shall, at
      its sole cost and expense, promptly repair and restore any and all damage
      to the property of Grantor, including, without limitation, damage to any
      improvements located on such property, caused by the exercise of such
      easement rights by Grantor.  If such repair and/or restoration
      is not carried out within a reasonable period after the date such damage
      is caused, the Grantor shall have the right to cause such repair and/or
      restoration to be made, and the Grantee shall, upon written demand
      therefor by Grantor, reimburse Grantor for all of its fees, costs and
      expenses (including, without limitation, reasonable attorneys’ fees and
      court costs) incurred in making or related to such repair and/or
      restoration.

              

      

       

      
        	
                C.

              	
                Grantee
      shall cause its operations and construction hereunder and the use of the
      Easement Rights Area to be in compliance with all applicable laws,
      statutes, regulations, rules, zoning laws, environmental laws, health and
      safety laws, and any other federal, state or local codes and
      ordinances applicable to the party, its business, operations,
      improvements and equipment, and the property affected
      thereby.  Grantee shall conduct its operations on the Easement
      Rights Area in a good and workmanlike manner, exercising reasonable skill,
      care and diligence in performing the same, consistent in all material
      respects with prudent industry
practices.

              

      

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      D.           In
the event Grantee is in default of its obligations hereunder, Grantor shall
notify Grantee in writing thereof, providing reasonable detail of such default
for proper identification, and the Grantee shall have thirty days to cure such
default; provided, that if the Grantee shall commence to cure such default
within twenty days of receipt of such notice, and shall proceed to cure such
default with due diligence, the Grantee shall have a period of up to ninety days
to complete such cure.  Notwithstanding the foregoing, if any
operation of Grantee constitutes a present danger to life or property, Grantee
shall immediately cause the cure of such condition, including as necessary
termination of operation of the improvements located on the Easement Rights Area
causing such condition, until the condition is resolved.  Grantor
shall be entitled to receive injunctive or similar relief to enjoin any
default.  Grantee grants to the Grantor the right to enforce the
grants of easement rights herein by specific performance.  Any partial
release of any easement rights granted herein shall not affect any other
easement rights granted herein.

       

      E.           Grantee
shall keep in effect, at their respective sole cost and expenses, reasonably
satisfactory comprehensive general liability insurance covering the easement
rights granted hereunder with maximum limits of liability of not less than
$1,000,000 for bodily injury of death to one person, or to any group of persons
as a result of one accident, and $1,000,000 for property
damage.  Grantee shall name the Grantor as an additional insured and
furnish such other party with certificates of current policies, and upon
expiration thereof, renewal certificates, evidencing such
insurance.

       

      F.           Grantor
shall pay all real estate taxes and assessments that shall be due and payable on
the Easement Rights Area prior to delinquency.

       

      G.           Nothing
contained herein shall be construed or deemed to constitute a dedication,
express or implied, of any real property to or for any public use or purpose
whatsoever.

       

      
        	
                3.  

              	
                No
      Representation.  THE EASEMENTS AND RIGHTS GRANTED HEREIN
      ARE BEING GRANTED IN THEIR CURRENT CONDITION, “AS-IS, WHERE-IS AND WITH
      ALL FAULTS” AND EXCEPT AS MAY BE SPECIFICALLY SET FORTH IN THE MASTER
      AGREEMENT, WITHOUT REPRESENTATION OR WARRANTY OR INDEMNIFICATION OF ANY
      KIND, EXPRESS OR IMPLIED, EACH AND ALL OF WHICH ARE HEREBY EXPRESSLY
      DISCLAIMED BY THE GRANTOR, INCLUDING, WITHOUT LIMITATION, ANY
      REPRESENTATION OR WARRANTY WITH RESPECT TO QUALITY, MERCHANTABILITY OR
      FITNESS FOR ANY PARTICULAR USE OR
PURPOSE.

              

      

       

      
        	
                4.  

              	
                Testing.  GRANTEE
      MUST OBTAIN THE GRANTOR’S PRIOR APPROVAL FOR THE PERFORMANCE OF ANY
      INVASIVE OR INTRUSIVE SOIL, GEOLOGICAL, GEOTHERMAL OR OTHER PHYSICAL
      TESTING OF ANY KIND, INCLUDING WITHOUT LIMITATION ENVIRONMENTAL TESTING,
      RECOMMENDED BY GRANTEE’S ENGINEERS OR REQUIRED BY GRANTEE’S
      MORTGAGEES.  ANY REQUEST BY GRANTEE TO PERFORM INVASIVE TESTING
      AT THE EASEMENT RIGHTS AREA MUST BE ACCOMPANIED BY A SUMMARY OF THE
      PROPOSED SCOPE OF WORK OR THE ENGINEER’S PROPOSAL.  GRANTEE
      SHALL NOT INTERFERE UNREASONABLY WITH THE OPERATION OF THE FACILITIES
      LOCATED ON THE GRANTOR’S PROPERTY THAT IS SUBJECT TO ITS INSPECTION OR
      TESTING AND SHALL COORDINATE ALL OF ITS ACTIVITIES AND THOSE OF ITS
      ENGINEERS, REPRESENTATIVES, CONSULTANTS AND AGENTS WITH THE GRANTOR TO
      MINIMIZE POSSIBLE INTERFERENCE WITH SUCH FACILITIES OR THEIR
      OPERATION.  GRANTEE SHALL PROMPTLY RESTORE ANY AREA OF THE
      GRANTOR’S PROPERTY THAT IS DISTURBED IN THE COURSE OF GRANTEE’S TESTING OR
      USE TO THE CONDITIONS EXISTING PRIOR TO ANY TESTS CONDUCTED BY GRANTEE OR
      TO THE CONDITIONS EXISTING PRIOR TO ANY USE MADE BY
    GRANTEE.

              

      

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      
        	
                5.  

              	
                INDEMNIFICATION.  GRANTEE
      AGREES TO INDEMNIFY, DEFEND, AND HOLD GRANTOR HARMLESS FROM AND AGAINST
      ANY CLAIM MADE AGAINST GRANTOR AND/OR GRANTOR’S REPRESENTATIVES FOR ANY
      LOSS OR DAMAGE INCLUDING PROPERTY DAMAGE AND DEATH OR BODILY INJURY,
      SUFFERED BY GRANTOR OR ANY OF ITS REPRESENTATIVES AS A RESULT OF GRANTEE’S
      INSPECTIONS, SAMPLING OR TESTING AND GRANTEE’S USE OF THE EASEMENTS
      GRANTED TO IT HEREIN.  THE FOREGOING INDEMNIFICATION OBLIGATIONS
      SHALL SURVIVE ANY SALE OF PROPERTY BY EITHER PARTY AND SHALL SURVIVE ANY
      EXPIRATION OR TERMINATION OF ANY OF THE EASEMENT RIGHTS GRANTED HEREUNDER
      FOR ACTIONS ACCRUING DURING THE TERM
HEREOF.

              

      

       

      
        	
                6.  

              	
                WAIVER OF
      LIABILITY.  EXCEPT FOR THE GRANTEE’S INDEMNIFICATION
      OBLIGATIONS WITH RESPECT TO CLAIMS OF THIRD PARTIES, THE PARTIES’
      LIABILITY FOR DAMAGES HEREUNDER IS LIMITED TO DIRECT, ACTUAL DAMAGES ONLY,
      AND NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR LOST PROFITS OR OTHER
      BUSINESS INTERRUPTION DAMAGES, OR SPECIAL, CONSEQUENTIAL, INCIDENTAL,
      PUNITIVE, EXEMPLARY OR INDIRECT DAMAGES, IN TORT, CONTRACT OR OTHERWISE,
      OF ANY KIND, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE PERFORMANCE,
      THE SUSPENSION OF PERFORMANCE, THE FAILURE TO PERFORM, OR THE TERMINATION
      OF THIS AGREEMENT.

              

      

       

      
        	
                7.  

              	
                Termination.  Grantee
      may terminate and abandon any of its easement rights granted hereunder, by
      written notice to Grantor, and such termination and abandonment shall be
      irrevocable and effective as of the date set forth in such
      notice.  Grantee shall have removed its improvements from the
      Easement Rights Areas prior to such termination and shall repair and
      restore the land disturbed by such removal.  If the Grantee has
      not removed its improvements on or prior to the effective date of such
      termination, such improvements shall become the property of the Grantor,
      and Grantee shall have no further right in or to such
      improvements.  In addition, if any or all of any easement
      granted to Grantee are taken by condemnation, then such easement shall
      terminate at the time of such taking, and such Grantee shall be entitled
      to the portion of the condemnation award as shall be mutually determined
      between the Grantor and Grantee, or as determined by final non-appealable
      order of an appropriate court having jurisdiction
  thereof.

              

      

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      
        	
                8.  

              	
                Cooperation in
      Operations.  The parties agree to cooperate in good faith
      with each other in negotiating a possible relocation of any easement right
      granted hereunder and the associated improvements in order to accommodate
      the reasonable development of the business and property of the other;
      provided, however, that the Grantee shall not be required to release any
      easement rights in such negotiations, and in the relocation of such
      easement rights, the cost of such relocation shall be borne by Grantor,
      and such relocation shall not place any greater burden on the Grantee in
      the development and use of its easement rights than the burden Grantee
      would incur if Grantee were to develop and use its easement rights
      hereunder in their present
location.

              

      

       

      
        	
                9.  

              	
                Permanent Covenants
      Running with Land.  Subject to the provisions of Section
      7 hereof, all of the easements and rights hereby granted, the restrictions
      and obligations hereby imposed, and the agreements herein contained shall
      be permanent, perpetual easements, rights, restrictions, obligations and
      agreements and shall be covenants running with the land and shall inure to
      the benefit of, and be binding upon, the parties hereto and their
      respective heirs, successors, and assigns, the land affected hereby and
      the future owners thereof.

              

      

       

      
        	
                10.  

              	
                Covenant Against
      Liens.

              

      

       

      A.           Subject
to the provisions of Section 10.B, Grantee hereby covenants and agrees that it
will not cause or permit any lien (including, without limitation, the filing of
any mechanic’s lien) to be filed or asserted against the property of the Grantor
as a result of any act or omission of Grantee.  In the event any such
lien or notice of lien is filed, Grantee shall, within twenty (20) days of
receipt of notice from Grantor of the filing of the lien, contest such lien as
permitted by law if such contest is sufficient alone to prevent the lien from
maturing, or contest said lien as permitted by law and bond or insure over said
lien, or fully discharge the lien by settling the claim which resulted in the
lien or by bonding or insuring over the lien in the manner prescribed by
applicable law.  If Grantee fails to so contest and/or discharge the
lien, then, in addition to any other right or remedy of Grantor, Grantor may
bond or insure over the lien or otherwise discharge the lien.  Grantee
shall reimburse Grantor any amount paid by Grantor to bond or insure over the
lien or discharge the lien, including without limitation reasonable attorneys’
fees, within fifteen (15) days of receipt of invoice therefor.  Any
rights and obligations created under or by this Section shall survive
termination or expiration of this Agreement.

       

      B.           Notwithstanding
the provisions of Section 10.A., Grantor shall have the right to cause one or
more mortgages or deeds of trust against the property owned by Grantor,
provided, however, that the mortgagee or beneficiary/grantee thereunder shall be
subject to all of the covenants, conditions and restrictions of this Agreement,
and if any portion of such property subject to such mortgages or deeds of trust
are sold under a foreclosure, or conveyed to such mortgagee or
beneficiary/grantee in lieu of foreclosure, any such purchaser or grantee and
its successors and assigns shall hold any and all such property purchased or
acquired subject to all of the covenants, conditions and restrictions of this
Agreement.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

       

      
        	
                11.  

              	
                Recordation.  The
      parties shall file this Agreement of record in the property records of
      Payne County, Oklahoma, providing notice of this
  Agreement.

              

      

       

      
        	
                12.  

              	
                Notices.  Any
      notice and other communication hereunder shall be in writing and shall be
      deemed to have been duly given upon receipt if (i) hand delivered
      personally, (ii) mailed by certified mail, postage prepaid, return receipt
      requested, (iii) sent by Federal Express or other express carrier, fee
      prepaid, (iv) sent via facsimile with receipt confirmed, or (v) sent via
      electronic email with receipt confirmed, provided that such notice or
      communication is addressed to the parties at their respective addresses
      below:

              

      

       

      
        	
                 
      

              	
                To
      Grantee:

              	
                White
      Cliffs Pipeline, L.L.C.

              

      

       

      
        	
                 
      

              	
                Two
      Warren Place

              

      

       

      
        	
                 
      

              	
                6120
      South Yale Avenue, Suite 700

              

      

       

      
        	
                 
      

              	
                Tulsa,
      Oklahoma 74136

              

      

       

      
        	
                 
      

              	
                Phone:  (918)
      524-8100

              

      

       

      
        	
                 
      

              	
                Fax:  (918)
      524-8290

              

      

       

      
        	
                 
      

              	
                Attention:  Chief
      Financial Officer

              

      

       

      
        	
                 
      

              	
                To
      Grantor:

              	
                SemGroup
      Energy Partners, L.L.C.

              

      

       

      
        	
                 
      

              	
                Two
      Warren Place

              

      

       

      
        	
                 
      

              	
                6120
      South Yale Avenue, Suite 500

              

      

       

      
        	
                 
      

              	
                Tulsa,
      Oklahoma 74136

              

      

       

      
        	
                 
      

              	
                Phone:  (918)
      524-5500

              

      

       

      
        	
                 
      

              	
                Fax:  (918)
      524-5805

              

      

       

      
        	
                 
      

              	
                Attention:  Chief
      Financial Officer

              

      

       

      Any party
may change the person and address to which notices or other communications to it
hereunder are to be sent by giving written notice of any such change to the
other party in the manner provided in this Section.

       

      
        	
                13.  

              	
                Non-Waiver.  No
      delay or failure by either party to exercise any right under this
      Agreement, and no partial or single exercise of that right, shall
      constitute a waiver of that or any other
right.

              

      

       

      
        	
                14.  

              	
                Headings.  Headings
      in this Agreement are for convenience only and shall not be used to
      interpret or construe its
provisions.

              

      

       

      
        	
                15.  

              	
                Governing Law;
      Jurisdiction.  The terms and provisions of this Agreement
      shall be governed by and construed in accordance with the laws of the
      State of Oklahoma.  During the pendency of the Bankruptcy Cases
      (as defined below), and without limiting any party’s right to appeal any
      order of the Bankruptcy Court (as defined below), (i) the Bankruptcy Court
      shall retain exclusive jurisdiction to enforce the terms hereof and to
      decide any claims or disputes which may arise or result from, or be
      connected hereby, and (ii) any and all actions related to the foregoing
      shall be filed and maintained only in the Bankruptcy Court, and the
      parties hereby consent to and submit to the jurisdiction and venue of the
      Bankruptcy Court and shall receive notices at such locations as provided
      hereinabove.  “Bankruptcy
      Cases” means the chapter 11 cases commenced by SemGroup, L.P. and
      certain of its direct and indirect subsidiaries on July 22, 2008, jointly
      administered under Case No. 08-11525 (BLS).  “Bankruptcy
      Court” means the United States Bankruptcy Court for the District of
      Delaware or any other court having jurisdiction over the Bankruptcy Cases
      from time to time. Thereafter, the parties agree that action with respect
      to this Agreement will be brought in an Oklahoma state court or Federal
      Court of the United States sitting in the county in which the Real
      Property is located and the parties hereby submit to the exclusive
      jurisdiction of said court.  The parties hereby unconditionally
      and irrevocably waive, to the fullest extent permitted by applicable law,
      any objection which they may now or hereafter have to the laying of venue
      or any dispute arising out of or relating to this Agreement or any of the
      transactions contemplated hereby brought in any court specified above, or
      any defense of inconvenient forum of the maintenance of such
      dispute.  Each of the parties hereto agrees that a judgment in
      any such dispute may be enforced in other jurisdictions by suit on the
      judgment or in any other manner provided by
law.

              

      

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      
        	
                16.  

              	
                Waiver of Jury
      Trial.  THE PARTIES HEREBY IRREVOCABLY AND
      UNCONDITIONALLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
      ANY RIGHT THAT THEY MAY HAVE TO TRIAL BY JURY OF ANY CLAIM OR CAUSE OF
      ACTION, OR IN ANY PROCEEDING, DIRECTLY OR INDIRECTLY BASED UPON OR ARISING
      OUT OF THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT
      (WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY).  EACH
      PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER
      PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
      NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
      (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HAVE BEEN INDUCED TO ENTER
      INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS IN THIS
      AGREEMENT.

              

      

       

      
        	
                17.  

              	
                Counterparts.  This
      Agreement may be executed in two or more counterparts, each of which shall
      be deemed an original but all of which together shall constitute one and
      the same instrument.

              

      

       

      
        	
                18.  

              	
                Entire
      Agreement.  This Agreement, together with the Exhibits
      hereto, represents the entire understanding and agreement between the
      parties hereto with respect to the subject matter hereof and supersedes
      any previous agreements or correspondence between the parties with respect
      to the same.  All Exhibits annexed hereto or referred to herein
      are hereby incorporated in and made a part of this Agreement as if set
      forth in full herein.  This Agreement may not be amended,
      modified, supplemented or altered except through a written agreement
      signed by the parties.  The parties hereto may, by written
      amendment to this Agreement, executed by all parties hereto, and in
      recordable form, replace the Exhibits annexed hereto from time to time as
      needed to truly and correctly reflect the property affected hereby and the
      correct placement, nature and extent of the Grantee’s pipeline
      improvements.  The parties may file of record the written
      amendment to this Agreement in the property records of Payne County,
      Oklahoma, to truly and correctly reflect the property affected hereby from
      time to time.

              

      

       

      Dated effective as of the 31st day of
March, 2009.

      

      

      

      [THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      

      

      Grantor:

      

      SEMGROUP
ENERGY PARTNERS, L.L.C.,

      a
Delaware limited liability company

      

      

      By:  _/s/ Alex G.
Stallings________________

      Name:           Alex
G. Stallings

      Title:             Chief
Financial Officer and Secretary

      

      

      

      

      ACKNOWLEDGMENT

      

      STATE OF
TEXAS                             
)

      )           ss.

      COUNTY OF
DALLAS                      
)

      

      This instrument was acknowledged before
me on the 3rd day of April, 2009, by Alex G. Stallings, as Chief Financial
Officer and Secretary of SemGroup Energy Partners, L.L.C., a Delaware limited
liability company.

      

      

      /s/ Authorized
Signatory______________

      Notary Public

      My
commission expires:

      ____________________

      [SEALl ]

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Grantor:

      

      SEMGROUP
CRUDE STORAGE, L.L.C.,

      a
Delaware limited liability company

      

      

      By:  _/s/ Alex G.
Stallings________________

      Name:           Alex
G. Stallings

      Title:             Chief
Financial Officer and Secretary

      

      

      

      

      ACKNOWLEDGMENT

      

      STATE OF
TEXAS                             
)

      ) ss.

      COUNTY OF
DALLAS                      
)

      

      This instrument was acknowledged before
me on this 3rd day of April, 2009, by Alex G. Stallings as Chief Financial
Officer and Secretary of SemGroup Crude Storage, L.L.C., a Delaware limited
liability company.

      

      

      /s/ Authorized
Signatory______________

      Notary Public

      My
commission expires:

      __________________

      (SEAL)

      

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      Grantee:

      

      WHITE
CLIFFS PIPELINE, L.L.C.,

      a
Delaware limited liability company

      

      By:  Its
Manager:

      

      SEMCRUDE
PIPELINE, L.L.C.

      by
SemCrude, L.P., its sole member,

      by
SemOperating G.P., L.L.C., its general partner

      

      

      By:  _/s/ Terrence
Ronan_________________

      Name:           Terrence
Ronan

      Title:             President
and Chief Executive Officer

      

      

      

      

      ACKNOWLEDGMENT

      

      STATE OF
TEXAS                              )

      ) ss.

      COUNTY OF
DALLAS                      
)

      

      This instrument was acknowledged before
me on this 3rd day of April, 2009, by Terrence Ronan, President and Chief
Executive Officer of SemOperating G.P., L.L.C., the general partner of SemCrude,
L.P., the sole member of SemCrude Pipeline, L.L.C., the Manager of White Cliffs
Pipeline, L.L.C., a Delaware limited liability company.

      

      

      /s/ Authorized
Signatory______________

      Notary Public

      My
commission expires:

      __________________

      (SEAL)

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      

      
 

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
 

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
 

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

                              EXHIBIT
Cexh10-14.htm

    EXHIBIT
10.14

     

    EXECUTION VERSION

     

    CONSENT,
WAIVER AND AMENDMENT TO CREDIT AGREEMENT

    

    This
Consent, Waiver and Amendment to Credit Agreement (this “Amendment”), dated as
of April 7, 2009 but effective as of the Effective Date (as hereinafter
defined), is among SEMGROUP ENERGY PARTNERS, L.P., a Delaware limited
partnership (the “Borrower”), the
Guarantors (as defined in the Credit Agreement referred to below) party hereto
(collectively, the “Guarantors”),
WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative
Agent”), L/C Issuer and Swing Line Lender under the Credit Agreement
referred to below, and the Lenders (as defined below) signatory
hereto.

    

    R
E C I T A L S:

    

    A. The
Borrower, the Administrative Agent and the Lenders that are parties thereto (the
“Lenders”)
entered into that certain Amended and Restated Credit Agreement dated as of
February 20, 2008 (as amended, modified, supplemented and waived from time to
time, including by the Forbearance Agreement (as defined below), the “Credit
Agreement”).

     

    B. The
Guarantors have guaranteed the obligations of the Borrower under the Credit
Agreement pursuant to that certain Amended and Restated Guaranty, dated as of
February 20, 2008, in favor of the Administrative Agent (as amended,
supplemented or modified, the “Guaranty”).

     

    C. The
Borrower, the Guarantors, the Administrative Agent and certain of the Lenders
entered into that certain Forbearance Agreement and Amendment to Credit
Agreement dated as of September 12, 2008 (as amended, supplemented or modified
from time to time, including without limitation by (i) the First Amendment to
Forbearance Agreement and Amendment to Credit Agreement, dated as of December
11, 2008, among the Borrower, the Guarantors, the Administrative Agent and
certain of the Lenders (ii) the Second Amendment to Forbearance Agreement and
Amendment to Credit Agreement, dated as of December 18, 2008, among the
Borrower, the Guarantors, the Administrative Agent and certain of the Lenders,
and (iii) the Third Amendment to Forbearance Agreement and Amendment to Credit
Agreement, dated as of March 17, 2009, among the Borrower, the Guarantors, the
Administrative Agent and certain of the Lenders, the “Forbearance
Agreement”), pursuant to which the Administrative Agent and such Lenders,
among other things, agreed to forbear from exercising their rights and remedies
under the Credit Agreement and the other Loan Documents relating to certain
Defaults and Events of Default thereunder, as described in the Forbearance
Agreement (the “Existing
Defaults”).

     

    D. The
Borrower has requested that the Administrative Agent and the Lenders agree to
amend the Credit Agreement and the other Loan Documents as set forth in this
Amendment.

     

    E. The
Administrative Agent and the Lenders party hereto are willing to amend the
Credit Agreement subject to and upon the terms and conditions set forth in this
Amendment.

     

    F. The
Borrower has requested that the Administrative Agent and the Lenders waive, to
the extent specified herein, the Existing Defaults and any adverse effects under
the Credit Agreement or any other document, instrument or agreement executed and
delivered in connection therewith arising as a result of the Existing Defaults
and, subject to the terms and conditions set forth herein, the Administrative
Agent and the Lenders party hereto are willing to waive such Existing Defaults
and any such adverse effects arising as a result of the Existing Defaults as so
requested.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    G. The
Borrower has requested that the Administrative Agent and the Lenders consent to,
among other things, the Master Agreement among SemGroup, L.P., SemManagement,
L.L.C., SemOperating G.P., L.L.C., SemMaterials, L.P., K.C. Asphalt, L.L.C.,
SemCrude, L.P., Eaglwing, L.P., SemGroup Holdings, L.P., the Borrower, SemGroup
Energy Partners G.P., L.L.C., SemGroup Energy Partners Operating, L.L.C.,
SemGroup Energy Partners, L.L.C., SemGroup Crude Storage, L.L.C., SemPipe G.P.,
L.L.C., SemMaterials Energy Partners, L.L.C., SemPipe, L.P. and SGLP Management,
Inc., in substantially the form of Annex 1 attached hereto (the “Master Settlement
Agreement”), and the transactions contemplated thereby, and, subject to
the terms and conditions set forth herein, the Administrative Agent and the
Lenders party hereto are willing to consent to the Master Settlement Agreement,
the transactions contemplated thereby and the other matters described herein as
so requested.

     

    NOW,
THEREFORE, the parties agree as follows:

    

    1. Definitions.  All
capitalized terms used in this Amendment which are not otherwise defined shall
have the meanings given to those terms in the Credit Agreement (after taking
into account the amendments contained herein).

     

    2. Consent to Master Settlement
Agreement.  Subject to the terms and conditions set forth
herein, effective on, and subject to the occurrence of, the Effective Date,
notwithstanding anything to the contrary contained in the Credit Agreement or
any other Loan Document, the Administrative Agent and the Lenders party hereto
hereby consent to the execution of the Master Settlement Agreement and all of
the transactions contemplated thereby, including, without limitation, the
Disposition of certain Collateral referred to therein, and waive any Defaults or
Events of Default that would otherwise result
therefrom.  Notwithstanding anything to the contrary contained in the
Credit Agreement or any other Loan Document, upon the Effective Date (i) the
Collateral Disposed of by the Borrower and its Subsidiaries in connection with
the Master Settlement Agreement shall be released from the Liens created by the
Security Documents, and (ii) to further evidence the release described in the
preceding clause (i), the Administrative Agent is hereby irrevocably authorized
by each Lender party hereto to promptly take any action reasonably requested by
the Borrower having the effect of releasing any Collateral encumbered by a
Security Document, if such Collateral is being Disposed by the Borrower or any
of its Subsidiaries in connection with the Master Settlement
Agreement.

     

    3. Consent to Other
Matters.  Subject to the terms and conditions set forth herein,
effective on, and subject to the occurrence of, the Effective Date,
notwithstanding anything to the contrary contained in the Credit Agreement or
any other Loan Document, the Administrative Agent and the Lenders party hereto
hereby waive any Defaults or Events of Default that would otherwise result from
the Borrower (i) not delivering to the Administrative Agent and the Lenders and
not filing its quarterly reports on Form 10-Q and annual reports on Form 10-K
with the SEC within the time period required by the Credit Agreement, the
Securities Exchange Act of 1934 or applicable law, provided that the
Borrower shall file all such reports as soon as commercially reasonable, and in
any event the Borrower shall file all such delinquent reports no later than
September 30, 2009, provided that if the
Borrower retains new auditors, such deadline shall be extended to December 31,
2009, and (ii) not delivering to the Administrative Agent and the Lenders the
audited financial statements, auditor’s reports and other information required
by Sections 6.01(a) and 6.02(a) of the Credit Agreement with respect to the
Borrower’s fiscal year ended December 31, 2008; provided that (x)
such financial statements, auditor’s report and other information required by
Sections 6.01(a) and 6.02(a) of the Credit
Agreement shall be delivered to the Administrative Agent as soon as commercially
reasonable, and in any event no later than September 30, 2009, provided that if the
Borrower retains new auditors, such deadline shall be extended to December 31,
2009, (y) it shall not be a Default or Event of Default hereunder if such
auditor’s report and opinion includes a “going concern” or like qualification or
exception or other qualification or exception as to the scope of such audit, and
(z) the certificate of a Responsible Officer of the General Partner accompanying
any financial statements and other information delivered under the Credit
Agreement may state that such unaudited financial statements and information may
be subject to adjustments based upon changes made by the Borrower’s outside
auditor and any such changes shall not constitute a Default or Event of
Default.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    4. Waiver of
Defaults.  Subject to the terms and conditions set forth
herein, effective on, and subject to the occurrence of, the Effective Date, the
Administrative Agent and the Lenders party hereto hereby irrevocably waive, for
the benefit of the Borrower and the Guarantors, all of the Existing Defaults
that had occurred and were continuing at or prior to the Effective
Date.

     

    5. Conversion of Revolver
Loans, Adjustment of Commitments and Amendment to Schedule
2.01.  On the Effective Date, a $150,000,000 portion of the
outstanding Revolver Loans shall immediately be deemed to be, and shall be,
converted to Term Loans without further action of the parties hereto. Revolver
Loans held by the Lenders shall be converted ratably in accordance with their
respective Applicable Percentages.  Concurrently with such conversion,
(i) the Revolver Commitment of each Lender shall be ratably reduced in an
aggregate principal amount equal to $150,000,000, (ii) the Term Loan of each
Lender shall be ratably increased in an aggregate principal amount equal to
$150,000,000, and (iii) the Aggregate Revolver Commitments of the Revolving
Lenders shall be permanently reduced to $50,000,000.  In conjunction
with the adjustment to the Revolver Commitments and the Term Loans described
above, Schedule 2.01 to the Credit Agreement is hereby amended by deleting such
Schedule in its entirety and replacing it with Schedule 2.01
hereto.

     

    6. Credit
Extensions.  Notwithstanding the provisions of the Forbearance
Agreement, subject to the terms and conditions set forth herein, effective on,
and subject to the occurrence of, the Effective Date, the Borrower may make
Requests for Credit Extensions and the Lenders shall be obligated to make Credit
Extensions, subject to the applicable conditions precedent to the making of such
Loans, in accordance with the Credit Agreement, as modified by this
Agreement.

     

    7. Amendments to Section 1.01
of the Credit Agreement.  Section 1.01 of the Credit Agreement
is hereby amended by deleting the defined terms “Applicable Rate”, “Change of
Control”, “Consolidated Adjusted EBITDA”, “Consolidated EBITDA”, “Consolidated
Leverage Ratio”, “Consolidated Net Income”, “Eligible Assignee”, “Interest
Coverage Ratio”, “Interest Expense”, “Interest Payment Date”, “Letter of Credit
Sublimit”, “Material Adverse Affect”, “Maturity Date”, “Net Cash Proceeds” and
“Swing Line Sublimit” in their entirety and replacing them with the
following:

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    “Applicable Rate”
means, from time to time, (i) with respect to any Base Rate Loan, 5.50% per
annum, (ii) with respect to any Eurodollar Rate Loan, 6.50% per annum, and (iii)
with respect to any commitment fee, 1.50%.

     

    “Change of Control”
means the occurrence of any of the following events:

     

    (a)           General
Partner shall cease to be, directly or indirectly, the beneficial owner (as
defined below) of all of the general partner interests of the
Borrower;

     

    (b)           any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such
person or its subsidiaries, and any person or entity acting in its capacity as
trustee, agent or other fiduciary or administrator of any such plan) other than
the Qualifying Owners becomes the “beneficial owner” (as defined in Rules 13d-3
and 13d-5 under the Securities Exchange Act of 1934, as amended) of 50% or more
of the equity securities of General Partner entitled to vote for members of the
board of directors or equivalent governing body of General Partner on a
fully-diluted basis; or

     

    (c)           during
any period of 12 consecutive months, a majority of the members of the board of
directors or other equivalent governing body of General Partner ceases to be
composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or
nomination to that board or equivalent governing body was approved by
individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent governing
body or (iii) whose election or nomination to that board or other equivalent
governing body was approved by individuals referred to in clauses (i) and (ii)
above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body; provided that,
notwithstanding the foregoing, any changes to the composition of individuals
serving as members of the board of directors or other equivalent governing body
of General Partner approved by any Qualifying Owner (other than SemGroup or its
Affiliates, which, for the avoidance of doubt, shall exclude Manchester
Securities Corp. and Elliott Management Corporation (Collectively, the “Elliott Companies”)
and entities under common investment management with the Elliott Companies)
during any period, shall not constitute a “Change of Control” hereunder.  

     

    As used
herein, “Qualifying
Owner” means Manchester Securities Corp., Elliott Management Corporation,
SemGroup, or any Affiliate of any of the foregoing.

     

    “Consolidated Adjusted
EBITDA” means, for any period, Consolidated EBITDA; provided, however, that if,
since the beginning of the twelve month period ending on the date for which
Consolidated Adjusted EBITDA is determined, the Borrower or any Consolidated
Restricted Subsidiary shall have made any Material Acquisition or Disposition
(other than a Disposition of Asphalt Assets), or a Subsidiary shall be
designated or redesignated as either an Unrestricted Subsidiary or a Restricted
Subsidiary, Consolidated Adjusted EBITDA shall be calculated giving pro forma
effect thereto as if such Material Acquisition or Disposition, consolidation,
merger, designation or redesignation had occurred on the first day of such
period. Such pro forma effect shall be determined (i) in good faith by the
Responsible Officer of General Partner, in its capacity as the sole general
partner of the Borrower, and (ii) without giving effect to any anticipated
or proposed change in operations, revenues, expenses or other items included in
the computation of Consolidated Adjusted EBITDA except as required by Regulation
S-X or with the consent of Administrative Agent; provided, that upon
one or more permitted Dispositions of the Asphalt Assets in accordance with
Section 7.06(h)
of this Agreement, for purposes of calculating Consolidated Adjusted EBITDA
under Section
7.20 of this Agreement, Consolidated Adjusted EBITDA shall be calculated
giving pro forma effect thereto as if such Disposition had occurred on the first
day of such period, with Consolidated Adjusted EBITDA being reduced by the
actual Consolidated EBITDA attributable to such Disposition; provided, further that, upon
one or more permitted Dispositions of the Asphalt Assets in accordance with
Section 7.06(h)
of this Agreement, for purposes of calculating Consolidated Adjusted EBITDA
under Section
7.16 of this Agreement, the Administrative Agent (in consultation with
the Lenders) and the Borrower shall determine in good faith appropriate
adjustments to the definition of Consolidated Adjusted EBITDA and the covenant
requirements set forth in Section 7.16 of this
Agreement to preserve the original intent thereof in light of such
Disposition.  Notwithstanding the foregoing or anything to the
contrary contained herein, Consolidated Adjusted EBITDA shall not be adjusted to
give pro forma effect to any acquisition of property from SemGroup or its
Subsidiaries or any Disposition of property to SemGroup and its Subsidiaries, in
each case if such acquisition or Disposition was made pursuant to the Master
Settlement Agreement and the transactions contemplated thereby.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    “Consolidated EBITDA”
means, for any period, the sum of the Consolidated Net Income of the Borrower
and its Consolidated Restricted Subsidiaries during such period, plus (a) the
following: (i) to the extent deducted in calculating such Consolidated Net
Income, all Interest Expense for such period, (ii) to the extent deducted in
calculating such Consolidated Net Income, all income taxes (including any
franchise taxes to the extent based upon net income) for such period, (iii) to
the extent deducted in calculating such Consolidated Net Income, all
depreciation, amortization (including amortization of good will, debt issue
costs and amortization under FAS Rule 123) and other non-cash charges (including
any provision for the reduction in the carrying value of assets recorded in
accordance with GAAP, but excluding any non-cash charges that constitute an
accrual of or reserve for future cash charges) for such period and (iv) to the
extent deducted in calculating such Consolidated Net Income, all Costs of
Restructuring and minus (b) the
following to the extent included in calculating such Consolidated Net Income,
(i) all income tax credits for such period and (ii) all non-cash items of income
(other than account receivables and similar items arising from the normal course
of business and reflected as income under accrual methods of accounting
consistent with past practices) for such period.  For avoidance of
doubt, Consolidated Net Income attributable to Unrestricted Subsidiaries and
Persons that are not Subsidiaries shall not be considered in calculating
Consolidated EBITDA except to the extent of actual cash distributions to the
Borrower or any of its Consolidated Restricted Subsidiaries by such Unrestricted
Subsidiaries or such other Persons.  Notwithstanding anything to the
contrary contained in this Agreement, the actual cash distributions to the
Borrower or any of its Consolidated Restricted Subsidiaries by (i) Persons who
are not Subsidiaries or (ii) Unrestricted Subsidiaries during any period that
will be included in Consolidated EBITDA shall be limited in the aggregate to 15%
of the total actual Consolidated EBITDA for such period (which total actual
Consolidated EBITDA shall be determined without including any such
distributions). Notwithstanding the foregoing, to the extent any determination
of Consolidated EBITDA includes any period ended on or prior to January 31,
2009, Consolidated EBITDA shall, for each of the months below, be deemed to be
as follows:

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      
        	
                Month Ended

              	
                Consolidated EBITDA

              
	
                April
      30, 2008

              	
                $8,848,000

              
	
                May
      31, 2008

              	
                $8,620,000

              
	
                June
      30, 2008

              	
                $9,634,000

              
	
                July
      31, 2008

              	
                ($249,000)

              
	
                August
      31, 2008

              	
                $8,419,000

              
	
                September
      30, 2008

              	
                $9,891,000

              
	
                October
      31, 2008

              	
                $6,990,000

              
	
                November
      30, 2008

              	
                $7,334,000

              
	
                December
      31, 2008

              	
                $7,582,000

              
	
                January
      31, 2009

              	
                $7,352,000

              

      

    

    

     

    “Consolidated Leverage
Ratio” means, for any date of determination, the ratio of (i)
Consolidated Funded Indebtedness on such date of determination to (ii)
Consolidated Adjusted EBITDA for the period of twelve months most recently ended
prior to the date of determination.

     

    “Consolidated Net
Income” means, for any period, the Borrower’s and its Consolidated
Restricted Subsidiaries’ net income for such period, including any cash
dividends or distributions actually received from any other Person during such
period determined on a Consolidated basis in accordance with GAAP consistently
applied after eliminating earnings or losses attributable to outstanding
Minority Interests and excluding the net earnings of any Person other than a
Restricted Subsidiary in which the Borrower or any of its Restricted
Subsidiaries has an ownership interest. Consolidated Net Income shall not
include (i) any gain or loss from the Disposition of assets, (ii) any
extraordinary gains or losses, (iii) any non-cash gains or losses resulting from
mark to market activity as a result of the implementation of SFAS 133 or (iv)
any gain or loss resulting from the prepayment, repurchase or retirement of
Indebtedness.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    “Eligible Assignee”
means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund; (d) any
other Person (other than a natural person) approved by (i) the Administrative
Agent, the L/C Issuer and the Swing Line Lender and (ii) unless an Event of
Default has occurred and is continuing, the Borrower (each such approval not to
be unreasonably withheld or delayed); and (e) solely for any purchases of Term
Loans in accordance with Section 10.06(i) of
this Agreement, the Borrower; provided that, other
than as set forth in clause (e) of this definition, “Eligible Assignee”
shall not include the Borrower or any of the Borrower’s Affiliates or
Subsidiaries.

     

    “Interest Coverage
Ratio” means the ratio of (a) Consolidated EBITDA to (b) Consolidated
Interest Expense for the twelve month period then ended.

     

    “Interest Expense”
means, with respect to any period, the sum (without duplication) of the
following (in each case, eliminating all offsetting debits and credits between
the Borrower and its Restricted Subsidiaries and all other items required to be
eliminated in the course of the preparation of Consolidated financial statements
of the Borrower and its Restricted Subsidiaries in accordance with GAAP):
(a) all interest and commitment fees in respect of Indebtedness of the
Borrower or any of its Restricted Subsidiaries (including imputed interest on
Capital Lease Obligations or Synthetic Lease Obligations) which are accrued
during such period and whether expensed in such period or capitalized,
including, without limitation, the Additional Interest; plus (b) all fees,
expenses and charges in respect of letters of credit issued for the account of
the Borrower or any of its Restricted Subsidiaries, which are accrued during
such period and whether expensed in such period or capitalized.

     

    “Interest Payment
Date” means, with respect to any Loan, the last Business Day of each
month (commencing September 30, 2008).

     

    “Letter of Credit
Sublimit” means, as at any date of determination, an amount equal to
$10,000,000. The Letter of Credit Sublimit is part of, and not in addition to,
the Aggregate Revolver Commitments.

     

    “Material Adverse
Effect” means (a) a material adverse change in, or a material adverse
effect upon, the operations, business, properties, liabilities (actual or
contingent) or financial condition of the Borrower and its Restricted
Subsidiaries, taken as a whole; (b) a material impairment of the ability of any
Loan Party to perform its obligations under any Loan Document to which it is a
party; or (c) a material adverse effect upon the legality, validity,
binding effect or enforceability against any Loan Party of any Loan Document to
which it is a party.  Notwithstanding anything to the contrary set
forth herein, in no event shall the filing of the
Chapter 11 cases of SemCrude L.P. and its affiliated debtors and
debtors-in-possession currently proceeding under Chapter 11 of the United States
Bankruptcy Code in the United States Bankruptcy Court for the District of
Delaware, or any event or events leading thereto, resulting therefrom or
proximately caused thereby, be deemed to constitute a Material Adverse Effect,
provided that each such
event occurred prior to the Effective Date (as defined in the Consent, Waiver
and Amendment), and is known by the Borrower and has been disclosed to the Agent
and the Lenders.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    “Material Contract”
means any contract or arrangement to which the Borrower or any of its Restricted
Subsidiaries is a party (other than the Loan Documents) that generates ten
percent (10%) or more of the aggregate revenue of the Borrower and its
Restricted Subsidiaries on a consolidated basis.

     

    “Maturity Date” means
June 30, 2011.

     

    “Net Cash Proceeds”
means the remainder of (a) the gross proceeds received by the Borrower or any
Restricted Subsidiary from (i) a Disposition, or (ii) the issuance of Additional
Debt, as applicable, less (b) underwriter discounts and commissions, investment
banking fees, legal, accounting and other professional fees and expenses,
transfer and similar taxes, the Borrower’s good faith estimate of income taxes
paid or payable in connection with such Disposition, with respect to any sale of
Asphalt Assets, any amount owed by the Borrower or any Restricted Subsidiary to
SemGroup or any of its Subsidiaries pursuant to the Membership Interest Transfer
Agreement, effective as of March 31, 2009, between SemMaterials, L.P. and
SemMaterials Energy Partners, L.L.C. and other usual and customary transaction
costs, in each case only to the extent paid or payable by the Borrower or a
Restricted Subsidiary in cash and related to such Disposition or Additional Debt
issuance, as applicable.

     

    “Swing Line Sublimit”
means an amount equal to the lesser of (a) $5,000,000 and (b) the Aggregate
Revolver Commitments.  The Swing Line Sublimit is part of, and not in
addition to, the Aggregate Revolver Commitments.

     

    8. Further Amendment to Section
1.01 of the Credit Agreement.  Section 1.01 of the Credit
Agreement is hereby further amended by inserting the following defined terms in
their appropriate alphabetical order:

     

    “Additional Interest”
has the meaning specified in Section
2.09(f).

     

    “Asphalt Assets” means
the assets of the Borrower and its Subsidiaries related to the Borrower’s
asphalt cement and residual fuel inventory terminalling and storage business;
including, without limitation, all such assets acquired pursuant to the Master
Settlement Agreement and the other documents, instruments and agreements
executed in connection therewith.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    “Borrower Assignment
Agreement” means with respect to any assignment to the Borrower pursuant
to Section
10.06(i) hereof, an Assignment and Assumption Agreement substantially in
the form of Exhibit H, with such amendments or modifications as may be approved
by the Administrative Agent and the Borrower.

     

    “Borrower Assignment
Effective Date” has the meaning specified in Section
10.06(i).

     

    “Borrower Loan
Purchase” means any purchase of Term Loans by the Borrower pursuant to
Section
10.06(i).

     

    “Capital Expenditures”
means all expenditures for the acquisition or leasing (pursuant to a capital
lease) of assets or additions to equipment (including replacements, capitalized
repairs and improvements) which should be capitalized under GAAP.

     

    “Clearing Price” has
the meaning specified in the Offer Document.

     

    “Consent, Waiver and
Amendment” shall mean that certain Consent, Waiver and Amendment to
Credit Agreement, dated as of April ___, 2009, among the Borrower, the
Guarantors, the Administrative Agent and the Lenders party thereto.

     

    “Costs of
Restructuring” means, without duplication, (a) all upfront, consent,
legal, professional, investment banking and advisory fees incurred as of the
Effective Date (as defined therein) of the Consent, Waiver and Amendment and
paid by the Borrower (whether or not incurred by the Borrower), in connection
with (i) the negotiation and execution, delivery and performance of the
Borrower’s obligations under each amendment, consent, waiver and forbearance
agreement in connection with this Agreement and (ii) the Chapter 11 cases of
SemCrude L.P. and its affiliated debtors and debtors-in-possession currently
proceeding under Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware, all litigation,
investigations, examinations and potential asset sale transactions resulting
therefrom or related thereto and the negotiation, execution, delivery and
performance of the Master Settlement Agreement and the transactions contemplated
thereby, plus
(b) any additional upfront, consent, legal, professional, investment banking and
advisory fees incurred in connection with any of the foregoing, plus (c) all other
restructuring expenses or charges in an amount not to exceed, in the aggregate,
an additional $5 million through the Maturity Date.

     

    “Excess Cash Flow”
means, with respect to any fiscal year (a) Consolidated EBITDA for such
fiscal period, minus
(b) the sum of (i) the cash portion of interest expense paid during
such fiscal period, (ii) the cash portion of income taxes (including any
franchise taxes to the extent based upon net income) paid during such period,
(iii) all scheduled principal payments made in cash in respect of the Term
Loans during such period, (iv) the cash portion of Capital Expenditures
made during such fiscal period, and (v) principal payments made in cash
during such period in respect of Capital Lease Obligations; provided that,
notwithstanding anything to the contrary contained herein, Excess Cash Flow for
the fiscal year ending December 31, 2009 shall be calculated based on the nine
(9) month period commencing April 1, 2009 and ending December 31,
2009.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    “Expiration Time” has
the meaning specified in the Offer Document.

     

    “Master Settlement
Agreement” shall mean that certain Master Agreement, effective as of
March 31, 2009, among SemGroup, L.P., SemManagement, L.L.C., SemOperating G.P.,
L.L.C., SemMaterials, L.P., K.C. Asphalt, L.L.C., SemCrude, L.P., Eaglwing,
L.P., SemGroup Holdings, L.P., the Borrower, SemGroup Energy Partners G.P.,
L.L.C., SemGroup Energy Partners Operating, L.L.C., SemGroup Energy Partners,
L.L.C., SemGroup Crude Storage, L.L.C., SemPipe G.P., L.L.C., SemMaterials
Energy Partners, L.L.C., SemPipe, L.P. and SGLP Management, Inc.

     

    “Maximum Offer Amount”
has the meaning specified in the Offer Document.

     

    “Maximum Permitted
Offer” has the meaning specified in Section
10.06(i).

     

    “Maximum Purchase
Price” has the meaning specified in the Offer Document.

     

    “Offer” has the
meaning specified in Section
10.06(i).

     

    “Offer Document” means
a Notice of an Offer to Purchase by the Borrower, together with all the
attachments thereto, all in the form of Exhibit I, as the same may be amended or
modified from time to time.

     

    “Purchase Notice” has
the meaning specified in Section
10.06(i).

     

    9. Further Amendment to Section
1.01 of the Credit Agreement.  Section 1.01 of the Credit
Agreement is hereby further amended by deleting the following defined terms in
their entirety:  Consolidated Senior Secured Leverage Ratio,
Investment Bank, Omnibus Agreement, Terminal Access and Use Agreement,
Terminalling and Storage Agreement, Throughput Agreement and Transformation
Officer.

     

    10. Amendment to Section
2.5(g).  Section 2.05(g) of the Credit Agreement is hereby
amended to include the following before the “.” at the end of such
provision:

     

    “provided, that in the
case of prepayments of Revolver Loans under Section 2.05(d) or
(e), the
Aggregate Revolver Commitments shall be permanently reduced in an amount equal
to the aggregate prepayment of the principal amount of such Revolver
Loans.”

     

    11. Amendment to Section 2.05(h)
of the Credit Agreement.  Section 2.05(h) of the Credit
Agreement is hereby amended in its entirety to read as follows:

     

    (h)           Within
two (2) Business Days after the Borrower’s receipt of cash proceeds of an
offering of Equity Interests of the Borrower, the Borrower shall pay to the
Administrative Agent for the account of the Term Loan Lenders an amount equal to
50% of the net cash proceeds of such offering of Equity
Interests.  Each prepayment under this Section 2.05(h) shall
be applied to ratably prepay the Term Loans.  The amount of net cash
proceeds of each offering of Equity Interest not used to prepay the Term Loans
pursuant to this Section 2.05(h) may
be retained by the Borrower for use in its business and may be used for the
purchase of outstanding Term Loans as permitted by Section
10.06(i).

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    12. Further Amendments to
Section 2.05 of the Credit Agreement.  Section 2.05 of the
Credit Agreement is hereby amended by inserting new clauses (i), (j) and (k)
thereto, to read in their entirety as follows:

     

    (i)           The
Borrower shall pay to the Administrative Agent for the account of the Term
Lenders on the dates set forth on the grid below (or if any such date is not a
Business Day, on the immediately succeeding Business Day), an amount equal to
the amount set forth on the grid below for such date.  Each prepayment
under this Section
2.05(i) shall be applied to ratably (as among the Term Lenders) prepay
the outstanding principal amount of the Term Loans.

     

    Payment
Date:                                                                Amortization
Payment:

     

    March 31,
2010                                                          $2,000,000.00

     

    June 30,
2010                                                            
$2,000,000.00

     

    September
30,
2010                                                         
 $2,500,000.00

     

    December
31,
2010                                                          
 $2,500,000.00

     

    March 31,
2011                                                                
 $2,500,000.00

     

    (j)           Within
90 days after the end of each fiscal year of the Borrower, commencing with the
fiscal year ending December 31, 2009, the Borrower shall pay to the
Administrative Agent for the account of the Lenders an amount equal to 50% of
the Excess Cash Flow at such fiscal year end.  Each prepayment under
this Section
2.05(j) shall be applied to ratably prepay the Loans.  The
amount of Excess Cash Flow not used to prepay the Loans pursuant to this Section 2.05(j) may
be retained by the Borrower for use in its business and may be used for the
purchase of outstanding Term Loans as permitted by Section
10.06(i).  In the case of prepayments of Revolver Loans, the
Aggregate Revolver Commitments shall be permanently reduced in an amount equal
to the aggregate prepayment of the principal amount of such Revolver
Loans.

     

    (k)           If
at any time the sum of all Cash Equivalents and cash-on-hand of the Borrower and
its Subsidiaries exceeds $15 million for a period of two (2) consecutive
Business Days, the excess amount shall be applied ratably as a mandatory
prepayment of the Revolver Loans, to the extent any Revolver Loans are then
outstanding, within one (1) Business Day following such second consecutive
Business Day, provided that the
Aggregate Revolver Commitments shall not be ratably reduced as a result of a
prepayment under this subsection (k).

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    13. Amendment to Section 2.09 of
the Credit Agreement.  Section 2.09 of the Credit Agreement is
hereby amended by inserting a new clause (f) thereto, to read in its entirety as
follows:

     

    (f)           Additional
Interest.  The Borrower shall pay to the Administrative Agent
for the account of each Lender in accordance with such Lender’s Applicable
Percentage a fee on the payment dates set forth on the grid below (or if any
such date is not a Business Day, on the immediately succeeding Business Day)
equal to the product of (i) the sum of the Aggregate Revolver Commitments and
the Total Term Outstandings of the Lenders in effect on the payment date set
forth on the grid below and (ii) the applicable percentage set forth on the grid
below (such amount, the “Additional
Interest”).  Such Additional Interest shall be fully earned and
payable on the payment dates indicated on the grid below.

     

    Payment
Date:                                                                Applicable
Percentage:

     

    October
6,
2009                                                                    0.50%

     

    April 6,
2010                                                                       
 0.50%

     

    October
6,
2010                                                                        
   1.00%

     

    April 6,
2011                                                                           
     1.00%

     

    14. Amendment to Section 4.02 of
the Credit Agreement.  Section 4.02 of the Credit Agreement is
hereby amended by

     

    (a) deleting
the “.” at the end of subsection (f) thereof and replacing it with “;
and”,

     

    (b) inserting
a new clause (g) thereafter, to read in its entirety as follows:

     

    “(g)           after
giving effect to the receipt of the proceeds of the requested Borrowing (other
than a Loan Notice requesting only a conversion of Loans to the other Type, or a
continuation of a Eurodollar Rate Loans) and the anticipated cash receipts and
cash uses of the Borrower and its Subsidiaries on the date of the applicable
Borrowing and the next Business Day, the sum of all Cash Equivalents and
cash-on-hand of the Borrower and its Subsidiaries on such next Business Day
shall not be in excess of $15 million.”; and

     

    (c) replacing
“Sections 4.02(a)
through (f)” in the last paragraph of such section, and replacing it with
“Sections 4.02(a)
through (g)”.

     

    15. Amendment
to Section 6.01 of the Credit Agreement.  Section 6.01 of the Credit
Agreement is hereby amended by adding the following subsection (c):

     

    “(c)           as
soon as available, but in any event within 30 days after the end of each month,
a Consolidated and, in the event that the Borrower designates any Subsidiary as
an Unrestricted Subsidiary, a consolidating balance sheet of the Borrower and
its Subsidiaries as at the end of such month, and the related Consolidated and
consolidating, if any, statements of income or operations, partners’ capital and
cash flows for such month and for the portion of the Borrower’s fiscal year then
ended, setting forth in each case in comparative form the figures for the
corresponding month of the previous fiscal year and the corresponding portion of
the previous fiscal year, all in reasonable detail and prepared in accordance
with GAAP, any such consolidating statements to be for the Borrower and its
Restricted Subsidiaries on a combined basis and the Borrower’s Unrestricted
Subsidiaries on a combined basis and such Consolidated statements to be
certified by a Responsible Officer of General Partner, in its capacity as the
sole general partner of the Borrower, as fairly presenting, in all material
respects, the financial condition, results of operations, partners’ capital and
cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject
only to normal year-end audit adjustments and the absence of
footnotes.  In the event the Borrower (or any Restricted Subsidiary)
does not deliver such financial information within the 30 day period set forth
in this Section 6.01(c), the Borrower (or such Restricted Subsidiary) shall have
a grace period of three days to deliver such information, provided that such
grace period shall commence upon the expiration of the 30-day period with no
further notice to the Borrower (or such Restricted Subsidiary) by the
Administrative Agent or any Lender.”

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    16. Amendment to Section 6.02 of
the Credit Agreement.  Section 6.02 of the Credit Agreement is
hereby amended by

     

    (a) deleting
subsections (m) and (n) in their entirety and replacing them with the
following:

     

    “(m)                      no
later than the third day of each month, an updated rolling 13-week forecast
(“Forecast”) of
cash receipts and disbursements for the next succeeding 13-week period
substantially in the form attached to this Agreement as Exhibit K;

     

    (n)           on
a monthly basis, the Borrower shall deliver to the Administrative Agent a
written report detailing material developments relating to the Borrower and the
Guarantors, including without limitation, the state of their businesses, which
report shall be certified by a Responsible Officer and shall be delivered no
later than five (5) Business Days following the end of the previous month.”;
and

     

    (b) deleting
subsections (o) through (s) in their entirety.

     

    17. Further amendment to Article
VI of the Credit Agreement.  Article VI of the Credit Agreement
is hereby amended by adding new Section 6.22, as follows:

     

    “Section
6.22                                Grant and Perfection of
Security Interests; Further Assurances.The Borrower shall use
commercially reasonable efforts to take, or cause to be taken, all action, and
to do, or cause to be done, all things necessary under applicable laws and
regulations, and will deliver such documentation and take all such further
actions as may be necessary, (a) to grant to the Administrative Agent, for the
benefit of the Lenders, a continuing security interest in Collateral acquired in
connection with the Master Settlement Agreement, and to perfect and continue the
perfected security interests of the Administrative Agent in such Collateral and
(b) to amend, modify or supplement any Security Document or other applicable
documentation, including, without limitation, with respect to the applicable
Grantor’s title to the Collateral pledged thereby, as may be necessary to ensure
the Administrative Agent’s continuing and perfected security interest in such
Collateral.”

     

    18. Amendment
to Section 7.02 of the Credit Agreement.  Section 7.02 of the Credit
Agreement is hereby amended by:

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    (a) adding
the following at the end of subsection (e), between “Acquisitions” and
“;”:

     

    “, provided that, from
and after the Effective Date (as defined in the Consent, Waiver and Amendment),
the aggregate amount of such Investments, when combined with Investments
permitted under subsection (h) will not exceed $15 million”;

     

    (b) adding
the following at the end of subsection (h), between “thereby” and
“;”:

     

    “, provided that, from
and after the Effective Date (as defined in the Consent, Waiver and Amendment),
the aggregate amount of such Investments, when combined with Investments
permitted under subsection (e) will not exceed $15 million”; and

     

    (c) deleting
the “and” at the end of subsection (i) and by deleting the “.” and inserting the
following at the end of subsection (j):

     

    “; and

     

    (k) Investments contemplated under the
Master Settlement Agreement.”

     

    19. Amendment to Section 7.06 of
the Credit Agreement.  Section 7.06 of the Credit Agreement is
hereby amended

     

    (a) in clause
(i) of subsection (c), by deleting “at least 75%” and replacing it with
“100%”;

     

    (b) by adding
the following at the end of subsection (d), between “Guarantor” and
“;”:

     

    “and provided, further, that this
clause (d) shall not apply to Dispositions under subsection (h) of this Section
7.06”;

     

    (c) by adding
new subsection (h), as follows:

     

    “(h)           Dispositions
of the Asphalt Assets in one or more transactions, provided that any
such Disposition shall be (i) pursuant to an arms’ length transaction among the
parties to such Disposition, (ii) to an entity that is not an Affiliate, and
(iii) for a purchase price that is paid in cash only, and provided further that
100% of the Net Cash Proceeds of any such Disposition must be applied to prepay
the Loans in accordance with Section 2.05(d);”;
and

     

    (d) by
deleting the reference to subsection (g) in the last proviso of the first
sentence and replacing it with “(h)”.

     

    20. Amendment to Section 7.07 of
the Credit Agreement.  Section 7.07 of the Credit Agreement is
hereby amended by changing the “.” at the end of subsection (e) to a “;”, and
inserting the following proviso at the margin: “provided, that, for
purposes of subsections (d) and (e), no distribution shall be permitted under
this Section
7.07 if, after giving pro forma effect to such distribution, the
Consolidated Leverage Ratio is greater than 3.50 to 1.00”.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

    21. Amendment to Section 7.16 of
the Credit Agreement.  Section 7.16 of the Credit Agreement is
hereby amended and restated in its entirety as follows:  “For each
applicable date of determination indicated below, permit the Consolidated
Leverage Ratio to be greater than the ratio indicated beside such date of
determination:

     

    
      
        	
                Date of Determination

              	
                Maximum Consolidated Leverage
      Ratio

              
	
                March
      31, 2009

              	
                5.50:1.00

              
	
                April
      30, 2009

              	
                6.50:1.00

              
	
                May
      31, 2009

              	
                6.50:1.00

              
	
                June
      30, 2009

              	
                6.50:1.00

              
	
                July
      31, 2009

              	
                7.50:1.00

              
	
                August
      31, 2009

              	
                7.50:1.00

              
	
                September
      30, 2009

              	
                7.50:1.00

              
	
                October
      31, 2009

              	
                9.25:1.00

              
	
                November
      30, 2009

              	
                9.25:1.00

              
	
                December
      31, 2009

              	
                9.25:1.00

              
	
                January
      31, 2010

              	
                9.75:1.00

              
	
                February
      28, 2010

              	
                9.75:1.00

              
	
                March
      31, 2010

              	
                9.75:1.00

              
	
                April
      30, 2010

              	
                9.75:1.00

              
	
                May
      31, 2010

              	
                9.75:1.00

              
	
                June
      30, 2010

              	
                8.75:1.00

              
	
                July
      31, 2010

              	
                8.75:1.00

              
	
                August
      31, 2010

              	
                8.75:1.00

              
	
                September
      30, 2010

              	
                8.00:1.00

              
	
                October
      31, 2010

              	
                8.00:1.00

              
	
                November
      30, 2010

              	
                8.00:1.00

              
	
                December
      31, 2010

              	
                7.25:1.00

              
	
                January
      31, 2011

              	
                7.25:1.00

              
	
                February
      28, 2011

              	
                7.25:1.00

              
	
                March
      31, 2011

              	
                6.75:1.00

              
	
                April
      30, 2011

              	
                6.75:1.00

              
	
                May
      31, 2011

              	
                6.75:1.00

              
	
                June
      30, 2011

              	
                6.75:1.00

              

      

    

    

     

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    22. Amendment to Section 7.17 of
the Credit Agreement.  Section 7.17 of the
Credit Agreement is hereby amended and restated in its entirety as
follows:  “For each applicable date of determination indicated below,
permit the Interest Coverage Ratio to be less than the ratio indicated beside
such date of determination:

     

    
      
        	
                Date of Determination

              	
                Minimum Interest Coverage
    Ratio

              
	
                March
      31, 2009

              	
                2.50:1.00

              
	
                April
      30, 2009

              	
                1.75:1.00

              
	
                May
      31, 2009

              	
                1.75:1.00

              
	
                June
      30, 2009

              	
                1.75:1.00

              
	
                July
      31, 2009

              	
                1.40:1.00

              
	
                August
      31, 2009

              	
                1.40:1.00

              
	
                September
      30, 2009

              	
                1.40:1.00

              
	
                October
      31, 2009

              	
                1.10:1.00

              
	
                November
      30, 2009

              	
                1.10:1.00

              
	
                December
      31, 2009

              	
                1.10:1.00

              
	
                January
      31, 2010

              	
                1.00:1.00

              
	
                February
      28, 2010

              	
                1.00:1.00

              
	
                March
      31, 2010

              	
                1.00:1.00

              
	
                April
      30, 2010

              	
                1.00:1.00

              
	
                May
      31, 2010

              	
                1.00:1.00

              
	
                June
      30, 2010

              	
                1.10:1.00

              
	
                July
      31, 2010

              	
                1.10:1.00

              
	
                August
      31, 2010

              	
                1.10:1.00

              
	
                September
      30, 2010

              	
                1.10:1.00

              
	
                October
      31, 2010

              	
                1.10:1.00

              
	
                November
      30, 2010

              	
                1.10:1.00

              
	
                December
      31, 2010

              	
                1.20:1.00

              
	
                January
      31, 2011

              	
                1.20:1.00

              
	
                February
      28, 2011

              	
                1.20:1.00

              
	
                March
      31, 2011

              	
                1.25:1.00

              
	
                April
      30, 2011

              	
                1.25:1.00

              
	
                May
      31, 2011

              	
                1.25:1.00

              
	
                June
      30, 2011

              	
                1.25:1.00

              

      

    

    

     

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    23. Further Amendment to Article
VII of the Credit Agreement.  Article VII is hereby
amended by deleting Sections 7.20, 7.21 and 7.22 thereof in their entirety, and
inserting new Sections 7.20 and 7.21, as follows:

     

    “Section
7.20                                Minimum Consolidated
Adjusted EBITDA.  For each applicable date of determination
indicated below, permit Consolidated Adjusted EBITDA for the period of twelve
consecutive months ending on the dates set forth below to be less than the
amount indicated beside such date of determination:

     

    
      
        	
                Date of Determination

              	
                Minimum Consolidated Adjusted
      EBITDA

              
	
                March
      31, 2009

              	
                $82,900,000

              
	
                April
      30, 2009

              	
                $66,500,000

              
	
                May
      31, 2009

              	
                $66,500,000

              
	
                June
      30, 2009

              	
                $66,500,000

              
	
                July
      31, 2009

              	
                $59,700,000

              
	
                August
      31, 2009

              	
                $59,700,000

              
	
                September
      30, 2009

              	
                $59,700,000

              
	
                October
      31, 2009

              	
                $47,900,000

              
	
                November
      30, 2009

              	
                $47,900,000

              
	
                December
      31, 2009

              	
                $47,900,000

              
	
                January
      31, 2010

              	
                $45,400,000

              
	
                February
      28, 2010

              	
                $45,400,000

              
	
                March
      31, 2010

              	
                $45,400,000

              
	
                April
      30, 2010

              	
                $45,400,000

              
	
                May
      31, 2010

              	
                $45,400,000

              
	
                June
      30, 2010

              	
                $50,200,000

              
	
                July
      31, 2010

              	
                $50,200,000

              
	
                August
      31, 2010

              	
                $50,200,000

              
	
                September
      30, 2010

              	
                $54,900,000

              
	
                October
      31, 2010

              	
                $54,900,000

              
	
                November
      30, 2010

              	
                $54,900,000

              
	
                December
      31, 2010

              	
                $60,900,000

              
	
                January
      31, 2011

              	
                $60,900,000

              
	
                February
      28, 2011

              	
                $60,900,000

              
	
                March
      31, 2011

              	
                $64,000,000

              
	
                April
      30, 2011

              	
                $64,000,000

              
	
                May
      31, 2011

              	
                $64,000,000

              
	
                June
      30, 2011

              	
                $65,100,000

              

      

    

    

     

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    Notwithstanding
the foregoing, in the event one or more of the Asphalt Assets listed on Schedule 7.21(a) to
this Agreement is Disposed of in accordance with Section 7.06(h) of
this Agreement, the minimum Consolidated Adjusted EBITDA amounts set forth above
will be reduced, commencing with the first day of the month in which such
Disposition occurs and all subsequent periods, by an amount equal to (i) (A) the
number of barrels of asphalt corresponding to such Disposed Asphalt Assets, as
set forth on Schedule
7.21(a) to this Agreement, divided by (B) 6,647,864, multiplied by (ii)
the projected Consolidated EBITDA of all Asphalt Assets for such date of
determination and each subsequent date of determination, as set forth on Schedule 7.21(b) to
this Agreement.

    

    Section
7.21.  Capital
Expenditures.  (a) For fiscal years 2009 and 2010, for the
period beginning on January 1 of each such fiscal year and ending on the last
date of each such fiscal year, and (b) for the fiscal period beginning on
January 1, 2011 and ending on the Maturity Date, permit the aggregate amount of
payments for each such fiscal year or fiscal period, as applicable, made for
Capital Expenditures of the Borrower and its Subsidiaries on a consolidated
basis, including Capital Lease Obligations, to exceed the amount indicated below
beside the end date of such fiscal year or fiscal period; provided, however, in
the event the Borrower and its Subsidiaries do not expend the entire Capital
Expenditure limitation in any such fiscal year, the Borrower and its
Subsidiaries may carry forward to the immediately succeeding fiscal year or
fiscal period such unutilized portion.  All Capital Expenditures shall
first be applied to reduce the carry-forward from the previous fiscal year, if
any, and then to reduce the applicable Capital Expenditure
limitation:

     

    
      
        	
                Fiscal Period End Date

              	
                Maximum Capital
  Expenditures

              
	
                December
      31, 2009

              	
                $12,500,000

              
	
                December
      31, 2010

              	
                $8,000,000

              
	
                June
      30, 2011

              	
                $4,000,000

              

      

    

    

     

    Without
limiting the foregoing, each Compliance Certificate shall contain a
certification as to the portion of the available amount, if any, used for
Capital Expenditures by the Borrower and its Subsidiaries on a consolidated
basis (i) for the applicable month and (ii) in the aggregate, for the applicable
fiscal year (inclusive of such month).

     

    24. Amendment to Section 8.01 of
the Credit Agreement.  Section 8.01 of the Credit Agreement is
hereby amended by

     

    (a) inserting
the word “or” at the end of subsection (l).  For the avoidance of
doubt, Section
8.01 is further amended by deleting subsections (m) and (n) in their
entirety.

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

     

    25. Amendment to Section 10.06
of the Credit Agreement.  Section 10.06 of the Credit Agreement
is hereby amended by inserting a new Section 10.06(i) as
follows:

     

    “(i)  Certain Permitted Term Loan
Purchases. Notwithstanding anything to the contrary contained in this
Section 10.06
or any other provision of this Agreement, so long as (x) no Default or Event of
Default has occurred and is continuing or would result therefrom and (y) such
purchase is made with any combination of (I) net cash proceeds from an offering
of Equity Interests as permitted by Section 2.05(h) or
(II) Excess Cash Flow as permitted by Section 2.05(j), the
Borrower may purchase outstanding Term Loans on the following
basis:

     

    (i)  At any time prior to
March 31, 2011, the Borrower may notify the Administrative Agent in the form of
Exhibit J hereto (each, a “Purchase Notice”)
that it wishes to make one or more offers to Term Loan Lenders to purchase the
Term Loans pursuant to the Offer Document (each, an “Offer”) in an aggregate amount
specified by the Borrower, with such Offer to be consummated pursuant to the
terms of the Borrower Assignment Agreement, provided that (1) any
Offer to repurchase and prepay Term Loans shall be made to all holders of the
Term Loans at the time of such Offer and (2) each Offer shall be outstanding for
at least three (3) Business Days.  The Borrower shall have the right,
in accordance with the procedures in the Offer Document, to purchase the Term
Loans, for cash, at a purchase price determined in accordance with the Offer set
forth in the Offer Document; provided that no
Offer in accordance with the terms of this Section 10.06(i)
shall be (A) less than $5,000,000 in aggregate principal amount of the
outstanding Term Loans for each Offer undertaken by the Borrower (or such lesser
amount as shall constitute the aggregate unused amount of the Maximum Permitted
Offers), or (B) in an amount that, when added to the amount of all previous
accepted Offers, would (if accepted) cause the aggregate amount of all accepted
Offers to exceed $200 million (the “Maximum Permitted
Offers”); and provided further that each
assignment of Term Loans pursuant to this Section 10.06(i)(i)
shall be in an aggregate amount of not less than $500,000 (or such lesser amount
(x) as may be agreed to by Borrower and Administrative Agent, (y) as shall
constitute the aggregate amount of the Term Loans of the assigning Lender, or
(z) as shall constitute the aggregate pro rata share of the Term Loans of the
assigning Lender in the event of pro ration as contemplated in the Offer
Document).

     

    (ii)  In connection with any
assignment pursuant to Section 10.06(i),
each of the assigning Lender and the Borrower in its capacity as purchaser of
the tendered Term Loans acknowledges as of the Borrower Assignment Effective
Date (as defined below) that (i) the Borrower Loan Purchase and the assignment
are in accordance with the terms of Section 10.06(i),
(ii) the other party to the Borrower Assignment Agreement currently may
have, and later may come into possession of, information regarding the Loan
Documents or the Credit Parties that is not known to it and that may be material
to a decision to enter into the Borrower Assignment Agreement (“Excluded
Information”),
(iii) it has independently and without reliance on the other party made its own
analysis and determined to enter into the Borrower Assignment Agreement and to
consummate the transactions contemplated thereby notwithstanding its lack of
knowledge of the Excluded Information and (iv) the other party shall have no
liability to it, and it hereby to the extent permitted by law waives and
releases any claims it may have against the other party under applicable laws or
otherwise, with respect to the nondisclosure of the Excluded Information in
connection with such assignment; provided that the
Excluded Information shall not and does not affect the truth or accuracy of the
representations or warranties of such party in the Standard Terms and Conditions
set forth in the Borrower Assignment Agreement.  Each of the assigning
Lender and the Borrower in its capacity as purchaser of the tendered Term Loans
further acknowledges that the Excluded Information may not be available to the
Administrative Agent or the other Lenders.  In connection with any
Offer, the Borrower shall provide to all Term Lenders to whom such Offer is made
all information that, together with any previously provided information, would
satisfy the requirements of applicable law.

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

     

    (iii)  The Borrower
acknowledges and agrees that it will make payment of the purchase price for Term
Loans (including all accrued interest, if any, with respect to the Term Loans
purchased, through the date of such purchase) accepted for payment pursuant to
the Offer Documents by transmitting funds directly to the assigning Lender in
accordance with the terms of the Offer Document.

     

    (iv)  Assignment of any
Borrower Loan Purchases shall be effective upon recordation in the Register (in
the manner set forth below) by the Administrative Agent following receipt of a
fully executed Borrower Assignment Agreement effecting the assignment thereof
(as provided in Section
10.06(c)).  Each assignment shall be recorded in the Register
on the Business Day the Borrower Assignment Agreement is received by the
Administrative Agent, if received by 12:00 noon New York City time, and on the
following Business Day if received after such time, prompt notice thereof shall
be provided to Borrower and a copy of such Borrower Assignment Agreement shall
be maintained, as applicable.  The date of such recordation of a
transfer shall be referred to herein as the “Borrower Assignment
Effective Date.” The provisions of Section 10.06(b)
shall not be applicable to any Borrower Loan Purchases consummated pursuant to
Section
10.06(i).

     

    (v)  No Borrower Loan
Purchase pursuant to this Section 10.06(i)
shall be deemed to be a voluntary prepayment.

     

    (vi)  Following a Borrower
Loan Purchase, no interest shall accrue from and after the Borrower Assignment
Effective Date on any Term Loans purchased by the Borrower and such purchased
Term Loans shall be deemed cancelled or retired for all purposes and no longer
outstanding (and may not be resold by the Borrower), for all purposes of this
Agreement and all other Loan Documents (notwithstanding any provisions herein or
therein to the contrary), including, but not limited to (A) the making of, or
the application of, any payments to the Lenders under this Agreement or any
other Loan Document, (B) the making of any request, demand, authorization,
direction, notice, consent or waiver under this Agreement or any other Loan
Document, (C) the providing of any rights to the Borrower as a Lender under this
Agreement or any other Loan Document, (D) the determination of Required Lenders
or (E) the calculation of financial covenants, or for any similar or related
purpose, under this Agreement or any other Loan Document.

     

    (vii)  The Lenders hereby
consent to the transactions described in this Section 10.06(i) and
waive the requirements of any provision of this Agreement and any other Loan
Document that might otherwise result in a breach of this Agreement, a Default or
an Event of Default as a result of or in connection with the consummation of any
Borrower Loan Purchase.  The Lenders acknowledge that repurchases made
by the Borrower pursuant to this Section 10.06(i) may result in the payment of
Term Loans on a non-pro rata basis.

     

    (viii)  The provisions of
this Section
10.06(i) shall not require the Borrower to undertake and consummate any
Offer; provided
that to the extent the Borrower undertakes to consummate any Offer, it shall
purchase the principal amount of all validly tendered Term Loans at or below the
Clearing Price up to the Maximum Offer Amount.  Notwithstanding
anything herein to the contrary, to the extent the Borrower terminates, cancels
or withdraws any Offer, it shall not be permitted to submit another Purchase
Notice to the Administrative Agent for a period of ten consecutive Business
Days.”

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     

    (ix)  All references to
purchases made by the Borrower pursuant to this Section 10.06(i) in
this Amendment, in any Offer Document or in any other Loan Document shall
include any purchase made by a Subsidiary or by the Borrower on behalf of any
Subsidiary.

     

    26. Schedules to Credit
Agreement.  The Schedules to the Credit Agreement are amended
by adding the following new Schedules thereto as set forth in Annex 2 attached
hereto.

     

    Schedule
6.20                                              
Unrestricted Subsidiaries

     

    Schedule
7.21(a)                                           Asphalt
Assets

     

    Schedule
7.21(b)                                           Projected
EBITDA of Asphalt Assets

     

    27. Exhibits to Credit
Agreement.  The Exhibits to the Credit Agreement are amended by
(i) deleting Exhibit C in its entirety and replacing it with the form attached
hereto; and (ii) adding the following new Exhibits thereto as set forth in Annex
3 attached hereto:

     

    Exhibit
H                      Form
of Borrower Assignment Agreement

     

    Exhibit
I                      
Form of Offer Document

     

    Exhibit
J                     
 Form of Purchase Notice

     

    Exhibit
K                      Form
of Forecast

     

    28. Representations and
Warranties.  The Borrower represents and warrants to the
Administrative Agent and the Lenders that the following statements are true,
correct and complete:

     

    (a) Representations and
Warranties.  After giving effect to this Amendment, each of the
representations and warranties made by the Borrower and the Guarantors pursuant
to the Credit Agreement, as amended hereby, and the other Loan Documents is true
and correct on and as of the date of this Amendment in all material respects,
except to the extent such representations and warranties expressly relate to an
earlier date.

     

    (b) No Default or Event of
Default.  After giving effect to this Amendment, no Default or
Event of Default has occurred and is continuing.

     

    (c) Execution, Delivery and
Enforceability.  This Amendment has been duly and validly
executed and delivered by the Borrower and the Guarantors and constitutes their
legal, valid and binding obligations, enforceable against the Borrower and the
Guarantors in accordance with its terms, except as such enforceability may be
limited by applicable Debtor Relief Laws and by general principles of
equity.

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

     

    (d) Payment of
Fees.  Neither the Borrower nor any of its Restricted
Subsidiaries has paid, nor will they pay (directly or indirectly), any advising
or management fees or other fees or expenses of Manchester Securities Corp.,
Elliott Management Corporation or Alerian Finance Partners, LP, or any of their
affiliates (excluding SemGroup Energy Partners, G.P., L.L.C.), it being
understood that this subsection shall not prohibit the payment on account of (i)
an existing right of indemnification pursuant to Borrower’s limited partnership
agreement and (ii) partner distributions, but only to the extent permitted by
the Credit Agreement, as amended.

     

    29. Conditions to
Effectiveness.  This Amendment shall be effective as of the
date (the “Effective
Date”) when and if each of the following conditions is satisfied, provided that upon
the occurrence of the Effective Date, the consents, waivers and releases of the
Administrative Agent and the Lenders party hereto set forth in Section 2 shall
be deemed effective as of March 31, 2009.

     

    (a) Execution and
Delivery.  The Administrative Agent shall have received a
counterpart of this Amendment executed and delivered by the Borrower, each of
the Guarantors and the Required Lenders, provided that in the
event that it is judicially determined that any provision of this Amendment
required the consent of all of the Lenders and such Lenders did not approve this
Amendment, then only such provision shall be ineffective and the balance of this
Amendment, if approved by the Required Lenders, shall remain in full force and
effect.

     

    (b) No Default or Event of Default;
Accuracy of Representations and Warranties.  The Borrower shall
deliver to the Administrative Agent a certificate of a Responsible Officer
certifying that, after giving effect to this Amendment, no Default or Event of
Default shall exist and each of the representations and warranties made by the
Borrower and the Guarantors herein and in or pursuant to the Credit Agreement
and the other Loan Documents shall be true and correct in all material respects
as if made on and as of the date on which this Amendment becomes effective,
except to the extent such representations and warranties expressly relate to an
earlier date.

     

    (c) Fees.  The Borrower
shall have paid the following amounts and fees:

     

    (i) for the
benefit of each Lender who executes and delivers a counterpart of this Amendment
to the Agent by 2:00 p.m. (Eastern time) on April 7, 2009, a fee equal to (x)
2.00% of the sum of (1) such Lender’s
Revolver Commitment and (2) such Lender’s pro
rata portion of the Total Term Outstandings, in each case after giving effect to
this Amendment, less (y) the amount,
if any, received by such Lender on account of such Lender’s consent to the Third
Amendment to Forbearance Agreement; and

     

    (ii) for the
benefit of the Administrative Agent, the fees set forth in that certain letter
agreement, dated March 30, 2009, between the Borrower and the Administrative
Agent.

     

    (d) Consents and Approvals. All necessary consents
and approvals to the amendment shall have been obtained.

     

    (e) Expense
Reimbursements.  The Borrower shall have paid all reasonable
invoices presented to the Borrower for expense reimbursements (including
reasonable attorneys’ and financial advisors’ fees and disbursements) due to the
Administrative Agent and the Lenders in accordance with Section 10.04 of the
Credit Agreement.

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    (f) Master Settlement
Agreement.  The Master Settlement Agreement shall have been
duly authorized, executed and delivered by each of the parties thereto, and,
upon the execution and delivery of this Amendment by the Borrower, its
Restricted Subsidiaries, the Administrative Agent and the Required Lenders, the
transfer of assets to the Borrower and its Restricted Subsidiaries contemplated
pursuant to the Master Settlement Agreement shall be effective so as to grant to
the Administrative Agent, for the benefit of the Lenders, a first priority Lien
on and security interest in all such assets (except to the extent such assets
may be subject to Liens otherwise permitted under Section 7.01 of the Credit
Agreement), to secure the Secured Obligations (as defined in the Pledge and
Security Agreement).

     

    30. Subsequent Lender
Consents.  If any Lender executes and delivers a counterpart of
this Amendment to the Agent after 2:00 p.m. (Eastern time) on April 7, 2009, the
Borrower may, in its sole discretion, pay a fee to such Lender equal to 2.00% of
the sum of (1)
such Lender’s Revolver Commitment and (2) such Lender’s pro
rata portion of the Total Term Outstandings, in each case after giving effect to
this Amendment, less (y) the amount,
if any, received by such Lender on account of such Lender’s consent to the Third
Amendment to Forbearance Agreement.  If the Borrower elects to make
any such payment, such Lender shall, for all purposes of this Agreement, be a
consenting Lender hereunder.

     

    31. Release.  For
purposes of this Section 31, the following
terms shall have the following definitions:

     

    “Related Parties”
shall mean, with respect to any released party, such party’s parents,
subsidiaries, affiliates, successors, assigns, predecessors in interest,
officers, directors, employees, agents, representatives, attorneys, financial
advisors, accountants and shareholders, if any.

     

    “Claims” shall
mean  any and all claims, losses, debts, liabilities, demands,
obligations, promises, acts, omissions, agreements, costs, expenses, damages,
injuries, suits, actions, causes of action, including without limitation, any
and all rights of setoff, recoupment or counterclaim of any kind or nature
whatsoever, in law or in equity, known or unknown, suspected or unsuspected,
contingent or fixed.

     

    Excluding only the continuing
obligations of the Lenders and the Administrative Agent under the Credit
Agreement, the Loan Documents and this Amendment, the Borrower and each
Guarantor, effective as of the effective date of this Amendment, hereby
releases, acquits and forever discharges the Lenders and the Administrative
Agent, and each of them, and their respective Related Parties, of and from any
and all Claims arising out of, related or in any way connected with the Credit
Agreement, the Loan Documents or the transactions contemplated by any thereof,
including, without limitation, any action or failure to act, prior to the
effective date of this Amendment, in response to or otherwise in connection with
the events or circumstances arising under or otherwise related to the Credit
Agreement, the Loan Documents or any Defaults or Events of Default occurring
under the Credit Agreement or the Loan Documents, in each case to the extent,
and only to the extent, that (i) such Claims arose prior to the effective date
of this Amendment, (ii) such Claims result or derive from actions taken or not
taken by a releasee in its capacity(ies) as a Lender(s) or as Administrative
Agent under the Credit Agreement or the Loan Documents, and (iii) such Claims do
not result or derive from actions taken or not taken by a releasee with respect
to or in relation to SemGroup, SemCrude L.P., SemMaterials, L.P., K.C. Asphalt,
L.L.C. or any of their affiliates (other than the Borrower and the
Guarantors).

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

     

    32. Acknowledgement.  The
Borrower hereby confirms and acknowledges as of the date hereof that it is
validly and justly indebted to the Administrative Agent and the Lenders for the
payment of all obligations under the Credit Agreement without offset, defense,
cause of action or counterclaim of any kind or nature whatsoever, other than
with respect to or in relation to any Claims (as defined in Section 31 of this
Amendment) not released pursuant to Section 31 of this
Amendment.

     

    33. Confirmation of Credit
Agreement and Security Documents.  Except as amended by this
Amendment, all the provisions of the Credit Agreement remain in full force and
effect from and after the date hereof, and each Loan Party hereby ratifies and
confirms each Loan Document to which it is a party.  This Amendment
shall be limited precisely as written and shall not, except as set forth herein,
be deemed (a) to be a consent granted pursuant to, or a waiver or modification
of, any other term or condition of the Credit Agreement or any of the
instruments or agreements referred to therein or (b) to prejudice any right or
rights which the Administrative Agent or the Lenders may now have or have in the
future under or in connection with the Credit Agreement or any of the
instruments or agreements referred to therein.  From and after the
date hereof, all references in the Credit Agreement to “this Agreement”,
“hereof”, “herein”, or similar terms, shall refer to the Credit Agreement as
amended by this Amendment.  Each of the Borrower and the Guarantors
also hereby ratifies and confirms that the Security Documents remain in full
force and effect in accordance with their terms and are not impaired or affected
by this Amendment.

     

    34. GOVERNING
LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

     

    35. Loan
Document.  This Amendment shall constitute a Loan Document
under the Credit Agreement, and all obligations included in this Amendment
(including, without limitation, all obligations for the payment of principal,
interest, fees and other amounts and expenses) shall constitute Obligations
under the Credit Agreement and shall be secured by the Collateral.

     

    36. Counterparts.  This
Amendment may be signed in any number of counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one and the
same instrument.  Delivery of an executed signature page to this
Amendment by facsimile transmission or electronic photocopy (e.g. a “.pdf”)
shall be as effective as delivery of a manually signed counterpart.

     

    [Remainder of Page Intentionally Left
Blank; Signature Pages Follow]

    
      
         

      

      
        25

        
          

        

      

      
         

      

    

     

    

     

    IN WITNESS WHEREOF, the
parties have caused this Amendment to be duly executed as of the day and year
first above written.

     

    SEMGROUP
ENERGY PARTNERS, L.P.

    

    

    By:
SemGroup Energy Partners GP, L.L.C.

           its
General Partner

    

    By: /s/ Alex G.
Stallings____________

    Name:
Alex G. Stallings

    Title:  Chief
Financial Officer and Secretary

    

    

    

    Guarantors:

    

    SemGroup
Energy Partners Operating, L.L.C.

    

    

    By: /s/ Alex G.
Stallings____________

    Name: Alex G. Stallings

    Title:  Chief Financial
Officer and Secretary

    

    

    SemMaterials
Energy Partners, L.L.C.

    

    

    By: /s/ Alex G.
Stallings____________

    Name: Alex G. Stallings

    Title:  Chief Financial
Officer and Secretary

    

    

    SemGroup
Energy Partners, L.L.C.

    

    

    By: /s/ Alex G.
Stallings____________

    Name: Alex G. Stallings

    Title:  Chief Financial
Officer and Secretary

    

    

    SemGroup
Crude Storage, L.L.C.

    

    

    By: /s/ Alex G.
Stallings____________

    Name: Alex G. Stallings

    Title:  Chief Financial
Officer and Secretary

    

    

    SemPipe,
L.P.

        By:  SemPipe,
G.P., L.L.C., its General Partner

    

    

    By: /s/ Alex G.
Stallings____________

    Name: Alex G. Stallings

    Title:  Chief Financial
Officer and Secretary

    

    

    

    SemPipe,
G.P., L.L.C.

    

    

    By: /s/ Alex G.
Stallings____________

    Name: Alex G. Stallings

    Title:  Chief Financial
Officer and Secretary

    

    

    SGLP
Management, Inc.

    

    

    By: /s/ Alex G.
Stallings____________

    Name: Alex G. Stallings

    Title:  Chief Financial
Officer and Secretary

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    Lenders:

    

    Wachovia
Bank, National Association,

        as L/C
Issuer,

        Swing
Line Lender and Lender

    

    

    By: /s/ C Mark
Hedrick_____________

    Name: C. Mark Hedrick

    Title:  Managing
Director

    

    

    ABN AMRO Bank N.V., as a
Lender

    

    

    By: /s/ Parker H.
Douglas___________

    Name: Parker H. Douglas

    Title:  Senior Vice
President

    

    

    By: /s/ Neil J.
Bivona_______________

    Name: Neil J. Bivona

    Title:  Senior Vice
President

    Bank of America, N.A., as a
Lender

    

    

    By: /s/ John W. Woodiel
III_________

    Name: John W. Woodiel III

    Title:  Senior Vice
President

    

    

    The Bank of Nova Scotia, as a
Lender

    

    

    By: /s/ Ronald
Dooley______________

    Name: Ronald Dooley

    Title:  Director

    

    

    Bank of Scotland PLC, as a
Lender

    

    

    By: /s/ Karen
Weich________________

    Name: Karen Weich

    Title:  Vice
President

    

    

    Blue Ridge Investments LLC, as
a Lender

    

    

    By: /s/ John
Hiebendahl_____________

    Name: John Hiebendahl

    Title:  VP;
Controller

    

    

    BMO Capital Markets Financing Inc.,
as a Lender

    

    

    By: /s/ Thomas E.
McGraw__________

    Name: Thomas E. McGraw

    Title:  Managing
Director

    

    Calyon New York Branch, as a
Lender

    

    

    By: /s/ Anne G.
Shean______________

    Name: Anne G. Shean

    Title:  Managing
Director

    

    

    By: /s/ Alan
Sidrane________________

    Name: Alan Sidrane

    Title:  Managing
Director

    

    

    Citibank, N.A., as a
Lender

    

    

    By: /s/ John
Mugno_________________

    Name: John Mugno

    Title:  Vice
President

    

    

    Fortis Capital Corporation, as
a Lender

    

    

    By: /s/ Ilene
Fowler________________

    Name: Ilene Fowler

    Title:  Director

    

    

    By: /s/ Darrell
Holley_______________

    Name: Darrell Holley

    Title:  Managing
Director

    

    

    Guaranty Bank And Trust Company,
as a Lender

    

    

    By: /s/ Gail J.
Nofsinger_____________

    Name: Gail J. Nofsinger

    Title:  Senior Vice
President

    Halbis Distressed Opportunities
Master Fund LTD, as a Lender

    

    

    By: /s/ Peter
Sakon________________

    Name: Peter Sakon

    Title:  VP

    

    

    JPMorgan Chase Bank, N.A., as
a Lender

    

    

    By: /s/ Phillip D.
Martin____________

    Name: Phillip D. Martin

    Title:  Senior Vice
President

    

    Lehman Brothers Commercial Bank,
as a Lender

    

    

    By: /s/ Richard
Bloom_____________

    Name: Richard Bloom

    Title:  VP

    

    

    Lehman Commercial Paper, Inc.,
as a Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    

    GE Business Financial Services, Inc.,
fka Merrill Lynch Business Financial Services, Inc., as a
Lender

    

    

    By: /s/ Authorized
Signatory_________

    Name: Authorized Signatory

    Title:  Authorized
Signatory

    

    GE Business Financial Services, Inc.,
fka Merrill Lynch Business Financial Services, Inc., as a
Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    

    One East Liquidity Master LP,
as a Lender

    

    

    By: /s/ James
Caciappo_____________

    Name: James Caciappo

    Title:  Authorized
Signatory

    

    

    One East Partners Master LP,
as a Lender

    

    

    By: /s/ James
Caciappo_____________

    Name: James Caciappo

    Title:  Authorized
Signatory

    

    Raymond James Bank FSB, as a
Lender

    

    

    By: /s/ Garrett
McKinnon___________

    Name: Garrett McKinnon

    Title:  Senior Vice
President

    

    

    Royal Bank of Canada, as a
Lender

    

    

    By: /s/ Leslie P.
Vowell____________

    Name: Leslie P. Vowell

    Title:  Attorney-in-Fact

    

    

    SunTrust Bank, N.A., as a
Lender

    

    

    By: /s/ Samuel M.
Ballesteros_______

    Name: Samuel M.
Ballesteros

    Title:  Senior Vice
President

    

    

    UBS Loan Finance LLC, as a
Lender

    

    

    By: /s/ Marie A.
Haddad____________

    Name: Marie A. Haddad

    Title:  Associate Director
Banking

         Products
Services, US

    

    

    By: /s/ Irja R.
Otsa_________________

    Name: Irja R. Otsa

    Title:  Associate Director
Banking

         Products
Services, US

    

    

    Evergreen Core Plus Bond Fond,
as a Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    

    Evergreen High Income Fund, as
a Lender

    

    

    By:_____________________________

    Name:

    Title:

    Evergreen High Income Sleeve,
as a Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    

    Evergreen High Yield Bond
Trust, as a Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    

    Evergreen Income Advantage
Fund, as a Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    

    Evergreen Multi-Sector Income,
as a Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    

    Evergreen VA High Income Fund,
as a Lender

    

    

    By:_____________________________

    Name:

    Title:

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Acknowledged:

    

    Wachovia
Bank, National Association,

        as
Administrative Agent

    

    

    By: /s/ C. Mark
Hedrick_________

    Name: C. Mark Hedrick

    Title:  Managing
Director

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