Document:

fgp-2015430ex105

EXECUTION COPY

AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND
AMENDMENT NO. 2 TO SECURITY AGREEMENT

This Amendment No. 4 to Credit Agreement and Amendment No. 2 to Security Agreement, dated as of May 29, 2015 (this “Amendment”), is among Ferrellgas, L.P., a Delaware limited partnership (the “Borrower”), Ferrellgas, Inc., a Delaware corporation and sole general partner of the Borrower (the “General Partner”), Bank of America, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”), Swing Line Lender and L/C Issuer, and the Lenders party hereto.
INTRODUCTION
		
	A.
	The Borrower, the General Partner, the Administrative Agent and the Lenders entered into that certain Credit Agreement, dated as of November 2, 2009 (as amended, supplemented, or restated to the date hereof, the “Original Agreement” and, as amended by this Amendment, the “Credit Agreement”), for the purpose and consideration therein expressed, whereby the Lenders became obligated to make loans and other extensions of credit to the Borrower as therein provided; 

		
	B.
	The Borrower and the other grantors named therein entered into that certain Security Agreement dated as of November 2, 2009 in favor of the Administrative Agent (as amended, supplement, or restated to the date hereof, the “Original Security Agreement” and, as amended by this Amendment, the “Security Agreement”); and

		
	C.
	The Borrower, the General Partner, the Administrative Agent and the Lenders desire to amend the Original Agreement and the Original Security Agreement as set forth herein;

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and in the Original Agreement, in consideration of the loans and other extensions of credit that may hereafter be made by the Lenders to the Borrower, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:

[Amendment No. 4]

Section 1Terms Defined in the Original Agreement.  Unless the context otherwise requires or unless otherwise expressly defined herein, the terms defined in the Original Agreement shall have the same meanings whenever used in this Amendment.
Section 1    Amendments to Original Agreement.  
(a)    Section 1.01 of the Original Agreement is hereby amended by: 
(i)    rearranging all definitions in the appropriate alphabetical order and adding the following definitions in the appropriate alphabetical order:
 “Amendment No. 4 Effective Date” means May 29, 2015.
“Bridger” means Bridger Logistics, LLC and each of the Acquired Subsidiaries, as defined in the Bridger Acquisition Agreement.
“Bridger Acquisition” means (i) the acquisition by the MLP of all of the issued and outstanding membership interests in Bridger as provided for in the Bridger Acquisition Agreement and (ii) the contribution of such membership interests by the MLP to the Borrower.
“Bridger Acquisition Agreement” means that certain Purchase and Sale Agreement dated as of the Amendment No. 4 Effective Date between Bridger, LLC, as seller and the MLP, as buyer, as amended, without giving effect to any modifications, amendments, consents or waivers thereto that are material and adverse to the Lenders without the prior consent of the Administrative Agent. 
“Bridger Acquisition Date” means the date of consummation of the Bridger Acquisition.
“Bridger Acquisition Distribution” means the distribution by the Borrower to the MLP of net proceeds of the Bridger Notes, the Initial Bridger Bridge Loans, if any, and other sums, to the extent necessary to permit the MLP to consummate the Bridger Acquisition.
“Bridger Bridge Loan Agreement” means that certain bridge loan agreement, if any, to be entered into in connection with the Bridger Acquisition.
“Bridger Bridge Loan Debt” means the Initial Bridger Bridge Loans and any senior unsecured term loans or exchange notes issued in conversion of or exchange for the Initial Bridger Bridge Loans pursuant to the Bridger Bridge Loan Agreement.

2    [Amendment No. 4]

“Bridger Notes” means senior notes of the Borrower and Ferrellgas Finance Corp. in an aggregate principal amount not to exceed $550,000,000 issued after the Amendment No. 4 Effective Date and on or prior to the Bridger Acquisition Date. 
“Bridger Related Securities” means equity or equity linked securities of the MLP issued after the Amendment No. 4 Effective Date and on or prior to the Bridger Acquisition Date, other than any such equity or equity linked securities issued to or at the direction of Bridger, LLC pursuant to the Bridger Acquisition Agreement.
“Initial Bridger Bridge Loans” means Indebtedness, if any, incurred after the Amendment No. 4 Effective Date and on or prior to the Bridger Acquisition Date under the Bridger Bridge Loan Agreement in an aggregate principal amount not to exceed $550,000,000 minus the gross cash proceeds of any Bridger Notes and any Bridger Related Securities.
(ii)    amending the definition of “Consolidated Interest Coverage Ratio” in its entirety to read as follows: 
“Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Charges, in each case, of or by the Borrower and its Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period.  In the event that the Borrower or any of the Restricted Subsidiaries (i) incurs, assumes or guarantees any Indebtedness (other than revolving credit borrowings including, with respect to the Borrower, the Loans and other than Indebtedness under the Accounts Receivable Securitizations permitted by this Agreement), or (ii) redeems or repays any Indebtedness (excluding Indebtedness under the Accounts Receivable Securitizations permitted by this Agreement), in any case subsequent to the commencement of the Measurement Period but prior to the date of the event for which the calculation of the Consolidated Interest Coverage is made (the “Interest Coverage Ratio Calculation Date”), then the Consolidated Interest Coverage shall be calculated giving pro forma effect to such incurrence, assumption, guarantee,  redemption or repayment of Indebtedness as if the same had occurred at the beginning of the applicable reference period.  Furthermore, in the event that the Borrower or any of the Restricted Subsidiaries consummates an Investment, purchase or acquisition permitted under Section 7.03(b) or (h) or a Disposition permitted under Section 7.05(h) during a Measurement Period or subsequent to the end of such Measurement Period but prior to the date of the event for which the calculation of the Consolidated Interest Coverage is made, then the Consolidated Interest Coverage Ratio shall be calculated giving pro forma effect to such Investment, purchase or acquisition or to such Disposition, as the case may be, as though such transaction 

3    [Amendment No. 4]

occurred on the first day of such Measurement Period; provided that with respect to the Borrower and the Restricted Subsidiaries, (a) Consolidated Interest Charges shall be reduced by amounts attributable to businesses or assets that are so disposed of or discontinued only to the extent that the obligations giving rise to such Consolidated Interest Charges would no longer be obligations contributing to the Consolidated Interest Charges of the Borrower or the Restricted Subsidiaries subsequent to Interest Coverage Ratio Calculation Date, (b) Consolidated EBITDA generated by an acquired business or asset of the Borrower or the Restricted Subsidiaries shall be determined by the actual gross profit (revenues minus costs of goods sold) of such acquired business or asset during the immediately preceding number of full fiscal quarters as are in applicable Measurement Period minus the pro forma expenses that would have been incurred by the Borrower and the Restricted Subsidiaries in the operation of such acquired business or asset during such period computed on the basis of (i) personnel expenses for employees retained by the Borrower and the Restricted Subsidiaries in the operation of the acquired business or asset and (ii) non-personnel costs and expenses incurred by the Borrower and the Restricted Subsidiaries and, in the case of an acquired propane distribution business, on a per gallon basis in the operation of the Borrower’s business at similarly situated Borrower facilities, (c) in the case of an Investment, purchase or acquisition other than a propone distribution business acquisition, giving effect to any anticipated costs savings or reduction in expenses or interest expense calculated in good faith by the Borrower and supported by reasonably detailed calculations provided to the Administrative Agent, (d) for purposes of the calculation of the Financial Covenants set forth in Section 7.11 in connection with the Bridger Acquisition, in lieu of the pro forma adjustments provided in the immediately preceding clauses (a), (b), and (c), Consolidated Interest Charges and Consolidated EBITDA shall be calculated giving pro forma effect to the Bridger Acquisition, the issuance of the Bridger Notes, if any, and the incurrence of the Bridger Bridge Loan Debt, if any, in each case as if the same had occurred at the beginning of the applicable Measurement Period, and (e) in connection with any Material Acquisition (other than the Bridger Acquisition for purposes of the calculation of the Financial Covenants set forth in Section 7.11 which shall be calculated in accordance with clause (d) above), in lieu of the pro forma adjustments provided in the immediately preceding clauses (a), (b), (c). and (d) if requested by the Borrower, Consolidated Interest Charges and Consolidated EBITDA may be subject to such pro forma adjustments reasonably acceptable to the Administrative Agent.
(iii)    amending the definition of “Consolidated Leverage Ratio” in its entirety to read as follows:

4    [Amendment No. 4]

“Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period.  In the event that the Borrower or any of the Restricted Subsidiaries (i) incurs, assumes or guarantees any Indebtedness (other than revolving credit borrowings including, with respect to the Borrower, the Loans and other than Indebtedness under the Accounts Receivable Securitizations permitted by this Agreement) or (ii) redeems or repays any Indebtedness (excluding Indebtedness under the Accounts Receivable Securitizations permitted by this Agreement), in any case subsequent to the commencement of the Measurement Period but prior to the date of the event for which the calculation of the Consolidated Leverage Ratio is made (the “Leverage Ratio Calculation Date”), then the Consolidated Leverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee,  redemption or repayment of Indebtedness as if the same had occurred at the beginning of the applicable reference period.  Furthermore, in the event that the Borrower or any of the Restricted Subsidiaries consummates an Investment, purchase or acquisition permitted under Sections 7.03(b) or (h) or a Disposition permitted under Section 7.05(h) during a Measurement Period or subsequent to the end of the Measurement Period but prior to the date of the event for which the calculation of the Consolidated Leverage Ratio is made, then the Consolidated Leverage Ratio shall be calculated giving pro forma effect to such Investment, purchase or acquisition or to such Disposition, as the case may be, as though such transaction occurred on the first day of such Measurement Period; provided that with respect to the Borrower and the Restricted Subsidiaries, (a) Consolidated Funded Indebtedness shall be reduced by amounts attributable to businesses or assets that are so disposed of or discontinued only to the extent that the Indebtedness included in such Consolidated Funded Indebtedness would no longer be obligations of the Borrower or the Restricted Subsidiaries subsequent to the Leverage Ratio Calculation Date, (b) Consolidated EBITDA generated by an acquired business or asset of the Borrower or the Restricted Subsidiaries shall be determined by the actual gross profit (revenues minus costs of goods sold) of such acquired business or asset during the immediately preceding number of full fiscal quarters as are in applicable Measurement Period minus the pro forma expenses that would have been incurred by the Borrower and the Restricted Subsidiaries in the operation of such acquired business or asset during such period computed on the basis of (i) personnel expenses for employees retained by the Borrower and the Restricted Subsidiaries in the operation of the acquired business or asset and (ii) non-personnel costs and expenses incurred by the Borrower and the Restricted Subsidiaries and, in the case of the acquisition of a propane distribution 

5    [Amendment No. 4]

business on a per gallon basis in the operation of the Borrower’s business at similarly situated Borrower facilities, (c) in the case of an Investment, purchase or acquisition other than a propone distribution business acquisition, giving effect to any anticipated costs savings or reduction in expenses or interest expense calculated in good faith by the Borrower and supported by reasonably detailed calculations provided to the Administrative Agent, (d) for purposes of the calculation of the Financial Covenants set forth in Section 7.11 in connection with the Bridger Acquisition, in lieu of the pro forma adjustments provided in the immediately preceding clauses (a), (b), and (c), Consolidated Funded Indebtedness and Consolidated EBITDA shall be calculated giving pro forma effect to the Bridger Acquisition, the issuance of the Bridger Notes, if any, and the incurrence of the Bridger Bridge Loan Debt, if any, in each case as if the same had occurred at the beginning of the applicable Measurement Period, and (e)  in connection with any Material Acquisition (other than the Bridger Acquisition for purposes of the calculation of the Financial Covenants set forth in Section 7.11 which shall be calculated in accordance with clause (d) above), in lieu of the pro forma adjustments provided in the immediately preceding clauses (a), (b), (c), and (d) if requested by the Borrower, Consolidated Funded Indebtedness and Consolidated EBITDA may be subject to such pro forma adjustments reasonably acceptable to the Administrative Agent.
(iv)    amending the definition of “Consolidated Senior Secured Leverage Ratio” in its entirety to read as follows: 
“Consolidated Senior Secured Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded Senior Secured Indebtedness as of such date to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period.  In the event that the Borrower or any of the Restricted Subsidiaries (i) incurs, assumes or guarantees any Consolidated Funded Senior Secured Indebtedness (other than revolving credit borrowings including, with respect to the Borrower, the Loans) or (ii) redeems or repays any such Indebtedness, in any case subsequent to the commencement of the Measurement Period but prior to the date of the event for which the calculation of the Consolidated Senior Secured Leverage Ratio is made (the “Senior Leverage Ratio Calculation Date”), then the Consolidated Senior Secured Leverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee,  redemption or repayment of Indebtedness as if the same had occurred at the beginning of the applicable reference period.  Furthermore, in the event that the Borrower or any of the Restricted Subsidiaries consummates an Investment, purchase or acquisition permitted under Sections 7.03(b) and (h) or a Disposition permitted under Section 7.05(h) during a Measurement 

6    [Amendment No. 4]

Period or subsequent to the end of the Measurement Period but prior to the date of the event for which the calculation of the Consolidated Senior Secured Leverage Ratio is made, then the Consolidated Senior Secured Leverage Ratio shall be calculated giving pro forma effect to such Investment, purchase or acquisition or to such Disposition, as the case may be, as though such transaction occurred on the first day of such Measurement Period; provided that with respect to the Borrower and the Restricted Subsidiaries, (a) Consolidated Funded Senior Secured Indebtedness shall be reduced by amounts attributable to businesses or assets that are so disposed of or discontinued only to the extent that the Consolidated Funded Indebtedness included in such Consolidated Funded Senior Secured Indebtedness would no longer be obligations of the Borrower or the Restricted Subsidiaries subsequent to the Senior Leverage Ratio Calculation Date (b) Consolidated EBITDA generated by an acquired business or asset of the Borrower or the Restricted Subsidiaries shall be determined by the actual gross profit (revenues minus costs of goods sold) of such acquired business or asset during the immediately preceding number of full fiscal quarters as are in applicable Measurement Period minus the pro forma expenses that would have been incurred by the Borrower and the Restricted Subsidiaries in the operation of such acquired business or asset during such period computed on the basis of (i) personnel expenses for employees retained by the Borrower and the Restricted Subsidiaries in the operation of the acquired business or asset and (ii) non-personnel costs and expenses incurred by the Borrower and the Restricted Subsidiaries and, in the case of the acquisition of a propane distribution business on a per gallon basis in the operation of the Borrower’s business at similarly situated Borrower facilities, (c) in the case of an Investment, purchase or acquisition other than a propone distribution business acquisition, giving effect to any anticipated costs savings or reduction in expenses or interest expense calculated in good faith by the Borrower and supported by reasonably detailed calculations provided to the Administrative Agent, (d) for purposes of the calculation of the Financial Covenants set forth in Section 7.11 in connection with the Bridger Acquisition, in lieu of the pro forma adjustments provided in the immediately preceding clauses (a), (b), and (c), Consolidated Funded Indebtedness and Consolidated EBITDA shall be calculated giving pro forma effect to the Bridger Acquisition, the issuance of the Bridger Notes, if any, and the incurrence of the Bridger Bridge Loan Debt, if any, in each case as if the same had occurred at the beginning of the applicable Measurement Period, and (e) in connection with any Material Acquisition (other than the Bridger Acquisition for purposes of the calculation of the Financial Covenants set forth in Section 7.11 which shall be calculated in accordance with clause (d) above), in lieu of the pro forma adjustments provided in the immediately preceding clauses (a), (b), (c), and (d) if requested by the Borrower, Consolidated 

7    [Amendment No. 4]

Funded Indebtedness and Consolidated EBITDA may be subject to such pro forma adjustments reasonably acceptable to the Administrative Agent.
(v)    amending clause (b) of the definition of “Permitted Unsecured Debt” in its entirety to read as follows: 
(b) no scheduled payment of principal, scheduled mandatory redemption or scheduled sinking fund payment of such Indebtedness is due on or before the Maturity Date (as in effect at the time the agreement or indenture governing such Indebtedness is entered into); provided that such Indebtedness may be prepaid in connection with a refinancing thereof with other Indebtedness that is permitted by this Agreement; provided further that (i) any term of the Bridger Notes providing that the Indebtedness evidenced by such Bridger Notes will be repaid or redeemed in full if the Bridger Acquisition does not occur on or before October 1, 2015 shall be deemed not to violate the requirements of this clause (b) and (ii) any term of the Bridger Bridge Loan Agreement or the Bridger Bridge Loan Debt requiring (x) the conversion of the Initial Bridger Bridge Loans into senior term loans, (y) the exchange of any such senior term loans for exchange notes or (y) the repayment of the Initial Bridger Bridge Loans if the conditions to conversion thereof into senior term loans are not satisfied shall be deemed not to violate the requirements of this clause (b);
(vi)    amending clause (c) of the definition of “Permitted Unsecured Debt” in its entirety to read as follows: 
(c) the agreement or indenture governing such Indebtedness must not contain (x) financial maintenance covenants stricter than, or in addition to, those in this Agreement (as in effect at the time the agreement or indenture governing such Indebtedness is entered into), or (y) other covenants or “events of default” that, taken as a whole, are less favorable to or more restrictive upon (in each case, in any material respect) the Borrower or any Guarantor than those contained in the Loan Documents (as in effect at the time the agreement or indenture governing such Indebtedness is entered into), provided that the inclusion of any other covenant (other than Prohibited Covenants) or event of default that is reasonable and customary with respect to such type of debt and that is not found in the Loan Documents, other than the Issuer Documents, (in each case, as in effect at the time the agreement or indenture governing such Indebtedness is entered into) shall not be deemed to be less favorable or more restrictive for purposes of this clause;
(vii)    amending the definition of “Restricted Payment” by inserting the following before the period at the end of such definition: 

8    [Amendment No. 4]

; provided, that the Bridger Acquisition Distribution shall not be a Restricted Payment so long as the Bridger Acquisition Distribution is effected on the Bridger Acquisition Date and the Bridger Acquisition is consummated substantially contemporaneously therewith.
(b)    Section 7.07 of the Original Agreement of the Original Agreement is hereby amended in its entirety to read as follows:  
7.07    Change in Nature of Business.   Engage in any material line of business substantially different from (a) (i) prior to the Bridger Acquisition Date, those lines of business conducted by the Borrower and its Subsidiaries on the Third Amendment Effective Date and (ii) from and after the Bridger Acquisition Date, those lines of business conducted by the Borrower and its Subsidiaries on the Bridger Acquisition Date, after giving effect to the Bridger Acquisition, (b) midstream energy operations, including oil, natural gas, natural gas liquids and related products gathering, treating, processing, terminaling, storage, transportation and marketing, compression services, or waste water disposal services, or (c) any business substantially related, incidental or ancillary to the businesses described in the foregoing clauses (a) and (b). 
(c)    Section 7.14 of the Original Agreement is hereby amended in its entirety to read as follows: 
7.14    Prepayments, Etc. of Indebtedness.  Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except (a) the prepayment of the Credit Extensions in accordance with the terms of this Agreement, (b) regularly scheduled or required repayments or redemptions of Indebtedness set forth in Schedule 7.02 and Indebtedness permitted under Section 7.02(h) and refinancings and refundings of such Indebtedness in compliance with Section 7.02(d), (c) Restricted Payments in respect of such Indebtedness in compliance with Section 7.06(e), (d) regularly scheduled or required prepayments or redemptions of the Bridger Notes and the Bridger Bridge Loan Debt, and (e) so long as no Event of Default exists or would result therefrom, other prepayments of such Indebtedness not described in the immediately preceding clauses (a), (b), (c) and (d).
(d)    Section 8.01 of the Original Agreement is hereby amended by inserting the following sentence at the end thereof: 
Notwithstanding anything to the contrary in this Section 8.01, provided that the Bridger Acquisition Distribution is effected on the Bridger Acquisition Date and the Bridger Acquisition is consummated substantially contemporaneously therewith, the making of the Bridger Acquisition Distribution shall not constitute a Default or Event of Default.

9    [Amendment No. 4]

Section 2    Amendments to Original Security Agreement.
(a)    Section 1.3 of the Original Security Agreement is hereby amended by:
(i)    Rearranging all definitions in the appropriate alphabetical order and adding the following definitions in appropriate alphabetical order:
“Bridger Note Proceeds Account” means a Deposit Account owned by the Borrower at a bank (which need not be the Administrative Agent or any Lender) into which the net proceeds of the Bridger Notes are deposited, together with any replacement deposit account designated by the Borrower as the Bridger Note Proceeds Account from time to time in writing to the Secured Party.
(ii)    amending the definition of “Excluded Collateral” in its entirety to read as follows:
“Excluded Collateral” means (a) the Excluded Equity Interests, (b) Securitization Assets that have been sold, transferred or otherwise conveyed by a Grantor to an SPE in connection with an Accounts Receivable Securitization permitted under Sections 7.02(h) and 7.05(f) of the Credit Agreement, (c) the Operating Account and (d) the Bridger Note Proceeds Account.
(iii)    amending the definition of “Pledged Deposit Accounts” in its entirety to read as follows:
“Pledged Deposit Accounts” means all Deposit Accounts (including those Deposit Accounts listed on Schedule 2), provided that “Pledged Deposit Accounts” shall not include the Operating Account or the Bridger Note Proceeds Account.
Section 3    Conditions to Effectiveness.  This Amendment shall become effective as of the date first above written when and only when:
(a)    The Administrative Agent shall have received all of the following, at the Administrative Agent’s office:
(i)    an original counterpart to this Amendment, duly executed by all parties hereto; 
(ii)    such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Amendment and the other Loan Documents to which such Loan Party is a party or is to be a party; and

10    [Amendment No. 4]

(iii)    a certificate signed by a Responsible Officer of the General Partner certifying that the conditions specified in Section 5(a) below have been satisfied.
(b)    The Borrower shall have paid, in connection with the Loan Documents, all recording, handling, legal, and other fees or payments required to be paid to the Administrative Agent or any Lender pursuant to any Loan Documents for which an invoice has been received at least one business day before the date hereof.
Section 4    Confirmation; Representations and Warranties.

11    [Amendment No. 4]

In order to induce each Lender to enter into this Amendment, the Borrower represents and warrants to each Lender that:
(a)    The representations and warranties of the Borrower contained in the Credit Agreement are true and correct in all respects at and as of the time of the effectiveness hereof, except to the extent that the facts on which such representations and warranties are based have been changed by the extensions of credit under the Credit Agreement or that such representations and warranties specifically refer to an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date.
(b)    The Borrower and the General Partner are duly authorized to execute and deliver this Amendment and have duly taken all corporate action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of the Borrower and the General Partner hereunder.
(c)    The execution and delivery by the Borrower and the General Partner of this Amendment, the performance by the Borrower and the General Partner of their obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provision of law, statute, rule or regulation or of the Organization Documents of the Borrower or the General Partner, or of any material agreement, judgment, license, order or permit applicable to or binding upon the Borrower or the General Partner, or result in the creation of any lien, charge or encumbrance upon any assets or properties of the Borrower or the General Partner.  Except for those which have been obtained, no consent, approval, authorization or order of any court or Governmental Authority or third party is required in connection with the execution and delivery by the Borrower and the General Partner of this Amendment or to consummate the transactions contemplated hereby.
(d)    When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding obligation of the Borrower and the General Partner, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or similar laws of general application relating to the enforcement of creditors’ rights and by equitable principles of general application.

Section 5    Miscellaneous.  
(a)    Waiver of Time Period of Response.  In connection with the delivery of any notice of a request for an increase in the Facility amount to be effective on the date of this Amendment, each Lender hereby waives the minimum ten Business Day response period provided for in Section 2.14(a) of the Credit Agreement and hereby consents to any request that each Lender respond by a date no earlier than June 4, 2014 to such request for an increase in the Facility amount.

12    [Amendment No. 4]

(b)    Ratification of Agreements.  The Original Agreement as hereby amended is hereby ratified and confirmed in all respects.  The Loan Documents, as they may be amended or affected by this Amendment, are hereby ratified and confirmed in all respects.  Any reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to the Original Agreement as hereby amended.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement, the Notes, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, the Notes or any other Loan Document.
(c)    Survival of Agreements.  All representations, warranties, covenants and agreements of the Borrower herein shall survive the execution and delivery of this Amendment and the performance hereof, including without limitation the making or granting of the Loans, and shall further survive until all of the Obligations are paid in full.  
(d)    Loan Documents.  This Amendment is a Loan Document, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto.
(e)    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
(f)    Counterparts; Electronic Transmission.  This Amendment may be separately executed in counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same Amendment.  This Amendment may be validly executed by facsimile or other electronic transmission.
(g)    ENTIRE AGREEMENT.    THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.
[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]

13    [Amendment No. 4]

IN WITNESS WHEREOF, this Amendment is executed as of the date first above written.
	
		
	FERRELLGAS, L.P.

By:   Ferrellgas, Inc., as its General Partner

	By:
	/s/Alan C. Heitmann____________

	Name:
	Alan C. Heitmann

	Title:
	Executive Vice President and Chief Financial Officer; President of  
Midstream Operations

	
		
	

FERRELLGAS, INC.

	By:
	/s/Alan C. Heitmann_____________

	Name:
	Alan C. Heitmann

	Title:
	Executive Vice President and Chief Financial Officer; President of  
Midstream Operations

             

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

	
		
	

BANK OF AMERICA, N.A., as Administrative Agent

	By:
	/s/ Jordan Forester

	Name:
	Jordan Forester

	Title:
	Assistant Vice President

	
		
	

BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender

	By:
	/s/ Jordan Forester

	Name:
	Jordan Forester

	Title:
	Assistant Vice President

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

WELLS FARGO BANK, N.A., as a Lender

By:  /s/ Jason M. Hicks
Name:  Jason M. Hicks 
Title:  Managing Director 

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

JPMORGAN CHASE BANK, N.A., as a Lender

By:  /s/ Kenneth J. Fatur    
Name:  Kenneth J. Fatur    
Title:  Managing Director    

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

FIFTH THIRD BANK, as a Lender

By: /s/ Stephen C. Watts           
Name: Stephen C. Watts    
Title: Vice President    

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

THE BANK OF TOKYO-MITSUBISHI UFJ, as a Lender

By:  /s/ Stephen W. Warfel    
Name:  Stephen W. Warfel
Title:  Managing Director

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

SUNTRUST BANK, as a Lender 

By:  /s/ Yann Pirio 
Name:  Yann Pirio 
Title:  Managing Director 

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

CAPITAL ONE, N.A., as a Lender

By:      /s/ Gina Monette            
Name:  Gina Monette                
Title:      Vice President                

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

PNC BANK, NATIONAL ASSOCIATION, as a Lender and an L/C Issuer

By:      /s/ M. Colin Warman            
Name:  M. Colin Warman            
Title:      Vice President                

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:      /s/ Tim Landro                
Name:  Tim Landro                
Title:      Vice President                

SIGNATURE PAGE TO AMENDMENT NO. 4 TO CREDIT AGREEMENT
AND AMENDMENT NO. 1 TO SECURITY AGREEMENT

CONSENT AND AGREEMENT

The undersigned hereby (i) consents to the provisions of the Amendment No. 4 to Credit Agreement and Amendment No. 2 to Security Agreement (the “Fourth Amendment”) and the transactions contemplated herein, (ii) ratifies and confirms its Amended and Restated Guaranty dated as of October 21, 2013, as amended, supplemented, or restated (“Guaranty”), made by it for the benefit of the Administrative Agent and the Lenders, executed pursuant to the Credit Agreement and the other Loan Documents, (iii) agrees that all of its obligations and covenants thereunder shall remain unimpaired by the execution and delivery of the Fourth Amendment and the other documents and instruments executed in connection herewith, and (iv) agrees that its Guaranty and the other Loan Documents shall remain in full force and effect, in the case of the Security Agreement, as amended by the Fourth Amendment.

    

	
		
	

FERRELLGAS, INC.

By:    /s/Alan C. Heitmann_______________
Name: Alan C. Heitmann
Title: Executive Vice President and Chief 
 
           Financial Officer; President of  
           Midstream Operations
	

BLUE RHINO GLOBAL SOURCING, INC.

By:   /s/Alan C. Heitmann_______________
Name:  Alan C. Heitmann
Title: Executive Vice President and Chief 
 
            Financial Officer; President of  
            Midstream Operations

	

SABLE ENVIRONMENTAL, LLC

By: Ferrellgas, L.P., as its sole member

By: Ferrellgas, Inc., as its general partner

By:    /s/Alan C. Heitmann_______________
Name: Alan C. Heitmann
Title: Executive Vice President and Chief 
 
           Financial Officer; President of  
           Midstream Operations
	

068800 000218 10146588.4layn-ex101_20150430791.htm

Exhibit 10.1

 

General Agreement

Of Indemnity

We the undersigned, individually and for and on behalf of all other Indemnitors, enter into this General Agreement of Indemnity (“Agreement”) in favor of Company. Witnesseth:

WHEREAS, in the transaction of business, Bonds have heretofore been and/or may hereafter be executed by Company. In connection with the execution, delivery and/or assumption of obligations of such Bonds, Company requires complete indemnification.

NOW, THEREFORE, as an inducement to Company and in consideration of Company’s execution and/or delivery of one or more Bonds, refraining from canceling one or more Bonds, and/or assumption of obligations by Company of one or more Bonds, and for other good and valuable consideration, the Indemnitors jointly and severally agree with Company as follows:

1.    Definitions: For purposes of this Agreement, the following definitions apply, which definitions shall be equally applicable to both the singular and plural forms of such terms:

Bond - Any and all bonds, undertakings, guarantees, contractual obligations, and writings or statements of prequalification or commitment, including Modifications thereof, which Company has executed or procured, or for which Company has an obligation as a result of an asset purchase, acquisition, merger or like transaction, issued for or on behalf of: (a) any one or more of the Indemnitors (without regard to whether any such Indemnitor signed this Agreement), their respective present or future direct or indirect parent companies, subsidiaries and affiliates and all of their respective successors and assigns; (b) any present or future joint venture, co- venture, consortium, partnership, trust, association, limited liability company or other legal entity in which one or more of the persons or entities identified in sub-paragraph (a) above have an interest; (c) any other person or entity at the request of any of the Indemnitors; or (d) any combination of the above, whether executed or procured before, on, or after the execution of this Agreement.  For the purpose of this definition, “Modifications” shall include but not be limited to renewals, substitutions, riders, endorsements, reinstatements, replacements, increases or decreases in penal sum, continuations, and extensions.

Company - Any member of the Liberty Mutual Group, including but not limited to Liberty Mutual Insurance Company and any other company that is part of or added to the Liberty Mutual Group, severally not jointly.  If Surety procures the execution of any Bond by any other sureties, executes any Bond with co-sureties, or reinsures any portion of any Bond with reinsuring sureties, then those entities and their successors and assigns shall be included in this definition and the terms and conditions of this Agreement and Other Agreements shall inure to their benefit.

Contract - Any contract or obligation the performance of which is guaranteed or covered either in whole or in part under a Bond.

Default - Any of the following shall constitute a Default: (a) a declaration of Contract default by any Obligee; (b) actual breach or abandonment of any Contract; (c) a breach of any provision of this Agreement; (d) failure to make payment of a properly due and owing bill in connection with any Contract; (e) Company’s good faith establishment of a reserve; (f) improper diversion of Contract funds or any Indemnitor’s assets to the detriment of Contract obligations; (g) any Indemnitor’s becoming the subject of any proceeding or agreement of bankruptcy, receivership, insolvency, or creditor assignment, or actually becoming insolvent; (h) any Indemnitor’s dying, becoming legally incompetent, being imprisoned, being convicted of a felony, or disappearing and being unable to be located; (i) any representation furnished to Company by or on behalf of any Indemnitor proving to have been materially false or misleading when made; and/or (j) any change in control or existence of any Indemnitor. Change in control means the addition or departure of any person or entity having a thirty percent (30%) or greater ownership interest in any Indemnitor.

Indemnitors - Undersigned, all new indemnitors added to this Agreement by rider, their present and future direct and indirect subsidiaries, affiliates in which any of the undersigned exercise operating control, and parent companies, and all of their successors and assigns, and any joint venture, co-venture, consortium, partnership, trust, association, limited liability company or other legal entity in which one or more of them are involved, whether in existence now or formed or acquired hereafter, and any entity that obtains Bonds from Company at the request of any of the aforementioned parties, or any combination of the above.

Loss - All loss and expense of any kind or nature, including attorneys’ and other professional fees, which Company incurs in connection with any Bond or this Agreement, including but not limited to all loss and expense incurred by reason of Company’s: (a) making any investigation in connection with any Bond; (b) prosecuting or defending any action in connection with any Bond; (c) obtaining the release of any Bond; (d) recovering or attempting to recover Property in connection with any Bond or this Agreement; (e) enforcing by litigation or otherwise any of the provisions of this Agreement; and (f) all interest accruing thereon at the maximum legal rate.

Obligee - Any person or entity in whose favor a Bond has been issued, and that person’s or entity’s successors and assigns.

Property - Indemnitors’ rights, title and interest, whether now held or hereafter acquired in: (a) any Contract or contract, including but not limited to subcontracts let; (b) any and all sums due or which may hereafter become due under any Contract or contract, and all damage claims and proceeds related thereto; (c) all rights arising under any surety bonds or insurance policies; and (d) any and all accounts receivable, letters of credit, documents of title, bills of lading, warehouse receipts, machinery, plants, equipment, tools, materials,  supplies,  inventory,  vehicles,  hardware,  software,  machine  tools,  fixtures,  office  equipment,  books,  records,  designs, licenses, patents, intellectual property, as-builts, construction drawings and documents, and all electronically stored information.

2.    Payment of Premium: Indemnitors shall pay to Company all premiums for each Bond executed and all renewals and extensions thereof.

3.    Indemnification and Hold Harmless: Indemnitors shall exonerate, indemnify and save Company harmless from and against all Loss. An itemized, sworn statement by an employee of Company, or other evidence of payment, shall be prima facie evidence of the propriety, amount and existence of Indemnitors' liability. Amounts due to Company shall be payable upon demand.

4.    Claim Settlement: Company shall have the right, in its sole discretion, to determine for itself and Indemnitors whether any claim, demand or suit brought against Company or any Indemnitor in connection with or relating to any Bond shall be paid, compromised, settled, tried, defended or appealed, and its determination shall be final, binding and conclusive upon the Indemnitors. Company shall

 

Page 1

Exhibit 10.1

be entitled to immediate reimbursement for any and all Loss incurred under the belief it was necessary or expedient to make such payments.

5.    Collateral Security: Indemnitors agree to deposit with Company, upon demand, an amount as determined by Company sufficient to discharge any Loss or anticipated Loss. Indemnitors further agree to deposit with Company, upon demand, an amount equal to the value of any assets or Contract funds improperly diverted by any Indemnitor. Sums deposited with Company pursuant to this paragraph may be used by Company to pay such claim or be held by Company as collateral security against any Loss or unpaid premium on any Bond. Company shall have no duty to invest, or provide interest on, the deposit. Indemnitors agree that Company would suffer irreparable damage and would not have an adequate remedy at law if Indemnitors fail to comply with the provisions of this paragraph.

6.    Remedies: In the event of a Default, Indemnitors assign, convey and transfer to Company all of their rights, title and interests in Property, and Company shall have a right in its sole discretion to: (a) take possession of the work under any Contract and to complete said Contract, or cause, or consent to, the completion thereof; (b) immediately take possession of Indemnitors’ Property, and utilize the Property for the completion of the work under the Contracts without payment for such use; (c) assert or prosecute any right or claim in the name of any Indemnitor and to settle any such right or claim as Company sees fit; (d) execute in the name of any Indemnitor, any instruments deemed necessary or desirable by Company to: (i) provide Company with title to assets, (ii) take immediate possession of Contract funds whether earned or unearned, (iii) collect such sums as may be due Indemnitors and to endorse in the name of Indemnitors, and (iv) collect on any negotiable instruments; (e) require any Obligee to withhold payment of Contract funds unless and until Company consents to its release; and/or (f) be subrogated to all the rights, remedies, properties, funds, securities and receivables relating to Indemnitors’ Contracts or contracts and have the right to offset losses on any Contract or Bond against proceeds, funds, or property due from another Contract, bond or contract.  Further, in the event of Default and upon demand Indemnitors shall direct that all payments, monies, and properties that are due or may become due on any Contract or contract be made payable to, and/or sent directly to, Company, and shall issue whatever writing or notices as deemed necessary by Company to effectuate the default and/or termination of any Contract.

7.     Joint and Several Liability: The obligations of Indemnitors hereunder are joint and several. Company is authorized to settle with any one or more of the Indemnitors individually, and without reference to the others, and any such settlements shall not bar or prejudice actions by Company against or affect the liability of the other Indemnitors hereunder.

8.   Decline Execution: Company has the right, for any reason, to decline to execute: (a) any Bond, including final Bonds where Company provided a bid Bond; (b) any Bond rider or consent authorizing any change to any Bond; and/or (c) any other consent of surety, without incurring any liability or waiving any right.

9.    Trust Fund: All payments due or received for or on account of any Contract, whether or not in the possession of any Indemnitor, shall be held in trust as trust funds by Indemnitors for the benefit and payment of all obligations for which Company as beneficiary may be liable under any Bond. Company may open a trust account or accounts with a bank for the deposit of the trust funds. Upon demand, Indemnitors shall deposit therein all trust funds received. Withdrawals from such trust accounts shall require the express consent of Company.

10. Books, Records and Credit: Indemnitors shall furnish upon demand, and Company shall have the right of free access to, at reasonable times, the records of Indemnitors including, but not limited to, books, papers, records, documents, contracts, reports, financial information, accounts and electronically stored information, for the purpose of examining and copying them. Indemnitors expressly authorize Company to access their credit records, including, but not limited to, account numbers and/or account balances from financial institutions.   To the extent required by law, Indemnitors, upon request, shall be informed whether or not a consumer report has been requested by Company, and if so, of the name and address of the consumer reporting agency furnishing the report.

11.  Attorney in Fact: Indemnitors irrevocably constitute, appoint and designate Company as their attorney in fact with the right, but not the obligation, to exercise all rights of Indemnitors assigned or granted to Company and to execute and deliver any other assignments, documents, instruments or agreements deemed necessary by Company to exercise its rights under this Agreement in the name of any Indemnitor.

12.  Security Interest:   As security for their obligations hereunder, Indemnitors hereby grant to Company a security interest in the following properties, assets and rights of Indemnitors, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof: all goods (including inventory, equipment and any accessions thereto), instruments (including promissory notes), documents, accounts, chattel paper, deposit accounts, letter-of-credit rights, securities and all other investment property, supporting obligations, any Contract or contract rights or rights to the payment of money, insurance claims and proceeds, and all general intangibles (the “Collateral”).  This Agreement shall for all purposes constitute a Security Agreement for the benefit of Company in accordance with the Uniform Commercial Code (“UCC”) and all similar statutes.  Indemnitors hereby irrevocably authorize Company, without notice to any Indemnitor, in order to perfect the security interest granted herein, to file either: (a) this Agreement or a copy or other reproduction of this Agreement; or (b) any initial financing statements or amendments thereto that indicate the Collateral as all assets of Indemnitors or words of similar effect, as being of an equal or lesser scope or with greater detail and that contain any other information relating to any Indemnitor required by Part 5 of Article 9 of the UCC for the jurisdiction where such financing statement or amendment is filed.  Company may add schedules or other documents to this Agreement as necessary to perfect its rights. The failure to file or record this Agreement or any financing statement shall not release or excuse any of the obligations of Indemnitors under this Agreement.

13.  Termination:  This is a continuing Agreement, which remains in full force and effect until terminated. The sole method available to Indemnitors to terminate their participation in this Agreement is by giving written notice to Company of Indemnitors' intent to terminate. Such notice shall be sent to Liberty Mutual Surety, Interchange Center, 450 Plymouth Road, Suite 400, Plymouth Meeting Pa 19462-1644  The termination shall take effect thirty (30) days after Company receives such notice (“Termination Date”).  The notice shall not relieve Indemnitor from its obligations for any Bond executed prior to the Termination Date or with respect to any Bond executed after the Termination Date: (a) upon the award of a Contract to any Indemnitor on a bid or proposal in respect of which Company has executed or procured a bid Bond prior to the Termination Date; or (b) which Company has become committed to execute or procure prior to the Termination Date; or (c) in connection with any maintenance, guarantee, claim, lien, litigation, or other matter involving or

 

 

Page 2

Exhibit 10.1

relating to any Bond executed prior to the Termination Date or thereafter executed or procured as provided in sub-paragraphs (a) or (b) above.

14.  Jurisdiction: In any legal proceeding brought by or against Company that in any way relates to this Agreement, each Indemnitor, for itself and its property, irrevocably and unconditionally submits to the exclusive jurisdiction, at the sole and exclusive option of Company, of the courts in any state in which any Indemnitor resides, has property, or in which any Contract is performed. Indemnitors hereby irrevocably and unconditionally submit to the jurisdiction of said courts and waive and agree not to assert any claim that they are not subject to the jurisdiction of any such court, that such proceeding is brought in an inconvenient forum or that the venue of such proceeding is improper.

15. Other Sureties: If Company procures the execution of Bonds by other sureties, executes Bonds with co-sureties or obtains reinsurance, the provisions of this Agreement inure to the benefit of such other surety, co-surety or reinsurer, but only as to such Bonds.

16.  Nature of Rights: If any provision or portion of this Agreement is or becomes unenforceable, this Agreement shall not be void, but shall be construed and enforced with the same effect as though such provision or portion were omitted. This Agreement is in addition to and not in lieu of any other agreement of indemnity, whether now existing or entered into hereafter. Company shall be entitled to specific performance of the terms of this Agreement in addition to any other remedy at law or equity. Time is of the essence in this Agreement. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine and neuter forms. The rights and remedies afforded to Company by the terms of this Agreement can only be modified by a written rider to this Agreement signed by an authorized representative of Company. If any Indemnitor fails to execute or improperly executes this Agreement or is otherwise found not to be bound under this Agreement, such failure or finding shall not affect the obligations of the other Indemnitors. The failure to sign or the improper execution of a Bond shall not affect Company’s rights under this Agreement, and Indemnitors waive any claim they may have, now or at any time in the future, arising out of the failure to sign or properly execute a Bond. Termination and/or limitation of any Indemnitors’ obligations under this Agreement shall in no way affect the obligations of any of the other Indemnitors whose obligations have not been terminated and/or limited. Indemnitors acknowledge this Agreement can be amended via rider to add another person, entity or entities as Indemnitor(s) to this Agreement and Indemnitors waive any and all notice in connection with the addition of additional Indemnitors and further acknowledge the rights and obligations provided herein shall apply to all Indemnitors whenever made a party to the Agreement.

17.  Jury Waiver: Indemnitors hereby waive and covenant that they will not assert any right to trial by jury in respect to any legal proceeding arising out of this Agreement.

18.  Resolution:  Indemnitors  have  a  substantial,  material  and  beneficial  interest:  (a)  in  the  obtaining  of  Bonds  by  any  of  the Indemnitors; and (b) in the transaction(s) for which any Indemnitor has applied or will apply to Company for Bonds pursuant to this Agreement. Indemnitors have the full power and authority to execute, deliver and perform this Agreement and to carry out the obligations stated herein. Indemnitors further acknowledge and agree that: (x) the execution, delivery and performance of this Agreement by such Indemnitors; (y) the compliance with the terms and provisions hereof; and (z) the carrying out of the obligations contemplated herein, do not, and will not, conflict with and will not result in a breach or violation of any terms, conditions or provisions of the charter documents or bylaws of such Indemnitors, or any law, governmental rule or regulation, or any applicable order, writ, injunction, judgment or decree of any court or governmental authority against Indemnitors, or any other agreement binding upon Indemnitors, or constitute a default thereunder.

 

19.  Date of Agreement: The date of this Agreement shall be the earliest date any Indemnitor executes this Agreement.

WE HAVE READ THIS INDEMNITY AGREEMENT CAREFULLY.    THERE ARE NO SEPARATE AGREEMENTS OR UNDERSTANDINGS WHICH IN ANY WAY LESSEN OUR OBLIGATIONS AS ABOVE SET FORTH.  IN TESTIMONY HEREOF, WE THE     INDEMNITORS     HAVE     SET     OUR     HANDS     AND     FIXED     OUR     SEALS     AS     SET     FORTH     BELOW.

			
	
IMPORTANT:
	
1.
	
PRINT OR TYPE NAMES UNDER EACH SIGNATURE.

	
 
	
2.

 

3.
	
ALL PERSONAL INDEMNITORS MUST PROVIDE A RESIDENTIAL ADDRESS AND SOCIAL SECURITY NUMBER AND

EACH SIGNATURE MUST BE NOTARIZED.

ALL  ENTITY  INDEMNITORS  MUST  PROVIDE  AN  ADDRESS  AND  FEDERAL  TAX  IDENTIFICATION  NUMBER,  IF

	
 
	
 
	
APPLICABLE, AND EACH SIGNATURE MUST BE NOTARIZED.

 

If Indemnitor a Corporation, Limited Liability Company, Partnership, or Trust, sign below:

 

Instructions:  All signatures must be notarized.  If the entity is:  1) a corporation, the secretary and an authorized officer should sign on behalf of the corporation; 2) a limited liability company, the manager(s) or member(s) should sign on behalf of the LLC; 3) a partnership, the partner(s) should sign on behalf of the partnership; or 4) a trust, all trustees should sign.   Two signatures are required for all entities except where otherwise instructed by Company.

 

Each of the undersigned hereby affirms to Company as follows:  I am a duly authorized official of the business entity Indemnitor on whose behalf I am executing this Agreement.  In such capacity I am familiar with all of the documents which set forth and establish the rights which govern the affairs, power and authority of such business entity including, to the extent applicable, the certificate or articles of incorporation, bylaws, corporate resolutions, and/or partnership, operating or limited liability agreements of such business entity.  Having reviewed all such applicable documents and instruments and such other facts as deemed appropriate, I hereby affirm that such entity has the power and authority to enter into this Agreement and that the individuals executing this Agreement on behalf of such entity are duly authorized to do so.

 

Page 3

Exhibit 10.1

 

				
	
Layne Christensen Company
	
 
	
48-0920712
	
02/04/2015

	
Indemnitor – Corporation
	
 
	
(Federal Tax ID)
	
Month/Day/Year

 

			
	
By    /s/ Andrew Atchison
	
 
	
By    /s/ Steven F. Crooke

	
(Signature of Authorized Official)
	
 
	
(Signature of Authorized Official)

 

			
	
Andrew Atchison, Chief Financial Officer
	
 
	
Steven F. Crooke, Secretary

	
(Print or Type Name and Title)
	
 
	
(Print or Type Name and Title)

	
1800 Hughes Landing Boulevard, Suite 700

The Woodlands, TX 77380
	
 
	
Delaware

	
(Address)
	
 
	
(State of Incorporation / Formation)

 

ACKNOWLEDGEMENT

STATE OF Texas County of                                

 

On this        day of                                ,           , before me personally appeared                                                              , known or proven to me to be the

                                                            of the entity executing the foregoing instrument (“Entity”), and                                                                  , known or proven to me to be the                                                               of the Entity, and they acknowledged said instrument to be the free and voluntary act and

deed of Entity for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of Entity and that it was affixed and that they executed said instrument by authority of Entity.  IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day

and year first above written.

 

				
	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(signature)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(print or type)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public residing at:
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
Commission expires:
	
 

 

				
	
Layne Inliner, LLC
	
 
	
01-0684682
	
02/04/2015

	
Indemnitor – Limited Liability Company
	
 
	
(Federal Tax ID)
	
Month/Day/Year

 

			
	
By    /s/ Andrew Atchison
	
 
	
By    /s/ Steven F. Crooke

	
(Signature of Authorized Official)
	
 
	
(Signature of Authorized Official)

 

			
	
Andrew Atchison, Chief Financial Officer
	
 
	
Steven F. Crooke, Secretary

	
(Print or Type Name and Title)
	
 
	
(Print or Type Name and Title)

	
333 Swanson Drive, Suite 133, Lawrenceville, GA 30043
	
 
	
Indiana

	
(Address)
	
 
	
(State of Incorporation / Formation)

 

ACKNOWLEDGEMENT

STATE OF Texas County of                                

 

On this        day of                                ,           , before me personally appeared                                                             , known or proven to me to be the

                                                            of the entity executing the foregoing instrument (“Entity”), and                                                                  , known or proven to me to be the                                                               of the Entity, and they acknowledged said instrument to be the free and voluntary act and

deed of Entity for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of Entity and that it was affixed and that they executed said instrument by authority of Entity.  IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day and year first above written.

 

				
	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(signature)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(print or type)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public residing at:
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
Commission expires:
	
 

 

Page 4

Exhibit 10.1

 

				
	
Layne Heavy Civil, Inc.
	
 
	
20-3512785
	
02/04/2015

	
Indemnitor – Corporation
	
 
	
(Federal Tax ID)
	
Month/Day/Year

 

			
	
By    /s/ Andrew Atchison
	
 
	
By    /s/ Steven F. Crooke

	
(Signature of Authorized Official)
	
 
	
(Signature of Authorized Official)

 

			
	
Andrew Atchison, Chief Financial Officer
	
 
	
Steven F. Crooke, Secretary

	
(Print or Type Name and Title)
	
 
	
(Print or Type Name and Title)

	
4520 North State Road 37, Orleans, IN 47452
	
 
	
Indiana

	
(Address)
	
 
	
(State of Incorporation / Formation)

 

ACKNOWLEDGEMENT

STATE OF Texas County of                                

 

On this        day of                                ,           , before me personally appeared                                                             , known or proven to me to be the

                                                            of the entity executing the foregoing instrument (“Entity”), and                                                                  , known or proven to me to be the                                                               of the Entity, and they acknowledged said instrument to be the free and voluntary act and deed of Entity for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of Entity and that it was affixed and that they executed said instrument by authority of Entity.  IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day and year first above written.

 

				
	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(signature)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(print or type)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public residing at:
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
Commission expires:
	
 

 

				
	
Layne Southwest, Inc.
	
 
	
27-1373226
	
02/04/2015

	
Indemnitor – Corporation
	
 
	
(Federal Tax ID)
	
Month/Day/Year

 

			
	
By    /s/ Andrew Atchison
	
 
	
By    /s/ Steven F. Crooke

	
(Signature of Authorized Official)
	
 
	
(Signature of Authorized Official)

 

			
	
Andrew Atchison, Chief Financial Officer
	
 
	
Steven F. Crooke, Secretary

	
(Print or Type Name and Title)
	
 
	
(Print or Type Name and Title)

	
515 Wheeler Avenue SE, Albuquerque, NM 87102
	
 
	
New Mexico

	
(Address)
	
 
	
(State of Incorporation / Formation)

 

ACKNOWLEDGEMENT

STATE OF Texas County of                                

 

On this  day of  ,  , before me personally appeared                                                             , known or proven to me to be the

                                                            of the entity executing the foregoing instrument (“Entity”), and                                                                  , known or proven to me to be the                                                               of the Entity, and they acknowledged said instrument to be the free and voluntary act and

deed of Entity for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of Entity and that it was affixed and that they executed said instrument by authority of Entity.  IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day

and year first above written.

 

				
	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(signature)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(print or type)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public residing at:
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
Commission expires:
	
 

 

				

Page 5

Exhibit 10.1

	
Bencor Corporation of America a Foundation Specialist
	
 
	
75-1447813
	
02/04/2015

	
Indemnitor – Corporation
	
 
	
(Federal Tax ID)
	
Month/Day/Year

 

			
	
By    /s/ Andrew Atchison
	
 
	
By    /s/ Steven F. Crooke

	
(Signature of Authorized Official)
	
 
	
(Signature of Authorized Official)

 

			
	
Andrew Atchison, Chief Financial Officer
	
 
	
Steven F. Crooke, Secretary

	
(Print or Type Name and Title)
	
 
	
(Print or Type Name and Title)

	
1800 Hughes Landing Boulevard, Suite 700

The Woodlands, TX 77380
	
 
	
Delaware

	
(Address)
	
 
	
(State of Incorporation / Formation)

ACKNOWLEDGEMENT

STATE OF Texas County of                                

 

On this        day of                                ,           , before me personally appeared                                                             , known or proven to me to be the

                                                            of the entity executing the foregoing instrument (“Entity”), and                                                                  , known or proven to me to be the                                                               of the Entity, and they acknowledged said instrument to be the free and voluntary act and

deed of Entity for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of Entity and that it was affixed and that they executed said instrument by authority of Entity.  IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day and year first above written.

 

				
	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(signature)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(print or type)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public residing at:
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
Commission expires:
	
 

 

				
	
Reynolds Water Islamorada, LLC
	
 
	
45-3670324
	
02/04/2015

	
Indemnitor – Limited Liability Company
	
 
	
(Federal Tax ID)
	
Month/Day/Year

 

			
	
By    /s/ Andrew Atchison
	
 
	
By    /s/ Steven F. Crooke

	
(Signature of Authorized Official)
	
 
	
(Signature of Authorized Official)

 

			
	
Andrew Atchison, Chief Financial Officer
	
 
	
Steven F. Crooke, Secretary

	
(Print or Type Name and Title)
	
 
	
(Print or Type Name and Title)

	
1800 Hughes Landing Boulevard, Suite 700

The Woodlands, TX 77380
	
 
	
Delaware

	
(Address)
	
 
	
(State of Incorporation / Formation)

 

ACKNOWLEDGEMENT

STATE OF Texas County of                                

 

On this        day of                                ,           , before me personally appeared                                                             , known or proven to me to be the

                                                            of the entity executing the foregoing instrument (“Entity”), and                                                                   , known or proven to me to be the                                                               of the Entity, and they acknowledged said instrument to be the free and voluntary act and deed of Entity for the uses and purposes therein mentioned and on oath stated that the seal affixed is the seal of Entity and that it was affixed and that they executed said instrument by authority of Entity.  IN WITNESS WHEREOF, I have hereunto set my hand and affixed my OFFICIAL SEAL the day and year first above written.

 

				
	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(signature)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public
	
(print or type)

	
 
	
 
	
 
	
 

	
 
	
 
	
Notary Public residing at:
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
Commission expires:
	
 

 

Page 6

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