Document:

Exhibit 10.1

 

GUARANTY

 

                For good and valuable
consideration to the undersigned and as a continuing inducement to Citibank,
N.A., and its subsidiaries and affiliates, (hereinafter called “CREDITOR”), to
extend credit to ATB Holdings Inc., (hereinafter called “Principal Debtor”),
the undersigned, Marathon Oil Corporation, a Delaware company, (hereinafter
called “Guarantor”) does hereby guarantee, to CREDITOR, the prompt payment of
all indebtedness now or hereafter owed CREDITOR by Principal Debtor arising from
borrowings under the Uncommitted Line of Credit Agreement (the “Contract”)
dated as of June 23, 2005 between CREDITOR, as Lender, and Principal Debtor, as
Borrower, provided, however, at no time shall this Guaranty be enforceable
against Guarantor in an amount in excess of two billion US dollars
($2,000,000,000).  Guarantor
waives any right to have Principal Debtor joined with Guarantor in any suit
brought against Guarantor on this Guaranty and waives any right to have a
judgment rendered on this Guaranty against Principal Debtor before a judgment
to be rendered against Guarantor.

 

                Guarantor waives notice of
acceptance of this Guaranty, of transactions between CREDITOR and Principal
Debtor and of defaults by Principal Debtor. 
Guarantor also waives periodic statements of account and agrees that
this Guaranty shall not be affected, with or without notice, by: CREDITOR’s
failure to make demand or use diligence; the extension of time for payment or
of additional credit after an account is due; change in terms upon which sales
are made to Principal Debtor; modification, termination or replacement of any
contract, or allowance on, or compromise of, any claim which CREDITOR may have
against Principal Debtor; any change in financial condition of the Guarantor, the
Principal Debtor or the CREDITOR, the bankruptcy, winding-up, liquidation,
dissolution or insolvency, reorganization and other similar proceedings
affecting the Principal Debtor or any resulting release, stay or discharge of
any obligation hereunder.

 

                Guarantor reserves to itself all rights,
counterclaims and other defenses which Principal Debtor is or may be entitled
to arising from or out of the guaranteed Contract, except for defenses arising
out of the bankruptcy, insolvency, dissolution or liquidation of Principal
Debtor, the power or authority of Principal Debtor to enter into the guaranteed
Contract and to perform its Obligations thereunder, and the lack of validity or
enforceability of the guaranteed Contract or any other documents executed in connection
with the guaranteed Contract.

 

                This shall be considered a
general and continuing Guaranty, irrespective of the aggregate amount of
indebtedness existing but subject always to the limitation on enforceability
referred to above.  It shall remain in full
force and effect until the earlier of (i) July 31, 2005, or (ii) receipt from
the Guarantor or his legal representative of written notice of termination sent
by certified mail to the offices of:

 

	
  Citibank, N.A.

  
	
  Attention:
  Gordon Dukuyper

  
	
  Two
  Allen Center

  
	
  Suite
  2000

  
	
  Houston,
  TX 77002

  

 

or
to such other address as may be given to Guarantor by 30 days written
notice.  No such termination shall
release Guarantor from liability for indebtedness actually or contingently
subject to this Guaranty at the time of such termination.

 

                This Guaranty shall supersede
and replace any previous guaranty delivered by Guarantor to CREDITOR for the
benefit of the Principal Debtor with respect to the obligations outlined herein
and shall constitute the entire agreement between the parties hereto with
respect to the subject matter hereof.

 

                IN WITNESS WHEREOF, this
Guaranty has been signed and delivered by the undersigned as of the 23rd day of
June 2005.

 

	
   

  	
  MARATHON OIL CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Paul C. Reinbolt

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Paul C. Reinbolt

  
	
   

  	
   

  	
  Vice President Finance
  & TreasurerExhibit 10.2

 

UNCOMMITTED LINE OF
CREDIT AGREEMENT

 

                Uncommitted
Line of Credit Agreement (as amended or otherwise modified from time to time,
this “Agreement”), dated as of June 23, 2005,
is between ATB Holdings Inc. (the “Borrower”) and
Citibank, N.A. (the “Lender”).

 

                The
Borrower and the Lender hereby agree as follows:

 

                1.
The Lender agrees to consider from time to time, from the Effective Date (as
defined in Section 8) until July 10, 2005 (such date, or the earlier
termination of this Agreement pursuant to Section 11, being the “Termination Date”), the Borrower’s requests that the Lender
make advances (“Advances”) to it in an aggregate
amount not to exceed two billion dollars ($2,000,000,000) at any one time
outstanding. The proceeds of the Advances are to be used solely to fund a
capital contribution from ATB Holdings Inc. to EXM LLC.  This letter is not a
commitment to lend but rather sets forth the procedures to be used in
connection with the Borrower’s requests for the Lender’s making of Advances to
it from time to time on or prior to the Termination Date and, if the Lender
makes Advances to the Borrower hereunder, the Borrower’s obligations to the
Lender with respect thereto.

 

                2.  Each request by the Borrower to the Lender
for an Advance based on a Quoted Rate (as defined in Section 4) (a “Quoted Rate Advance”) will be given not later than 11:00
A.M. (New York City time) on the date of such proposed Advance.  Each request will specify (i) the date on
which the Borrower wishes the Advance to be made (which will be a day of the
year on which banks are not required or authorized by law to close in New York
City (“Business Day”)), (ii) the amount it
wishes to borrow (which will be in the amount of $1,000,000 or an integral
multiple thereof), and (iii) the interest period (“Interest
Period”) it wishes to apply to such Advance.  The duration of each Interest Period will be
a term requested by the Borrower and agreed to by the Lender, provided
that (i) the Borrower may not select any Interest Period that ends after the
Termination Date and (ii) whenever the last day of an Interest Period would
otherwise occur on a day other than a Business Day, the last day of such
Interest Period will be extended to occur on the next succeeding Business Day.  If the Lender agrees to make such Advance, it
will make such funds available to the Borrower in same day funds to:

 

ATB Holding, Inc.

Citibank, N.A.

Account #30599413

ABA #021000089

 

 

                3.  The Borrower will repay the principal amount
of each Advance on the earliest to occur of DEMAND, the last day of the
Interest Period for such Advance and the Termination Date, together with
accrued interest thereon.  The Borrower
may prepay any Advance made to it in whole or in part on any Business Day, provided
that (i) the Borrower has given the Lender at least one Business Days’
irrevocable written notice of such prepayment (and on the date specified for
such prepayment in such notice, the Borrower will prepay the amount of the
Advance to be prepaid, together with accrued interest thereon to the date of
prepayment and any other amounts payable by the Borrower pursuant to Section
15), and (ii) each partial prepayment will be in a principal amount of at least
$1,000,000.

 

 

 

 

                4.
The Borrower will pay interest on the unpaid principal amount of each Advance
made to it from the date of such Advance until such principal amount is paid in
full at a rate equal to the Quoted Rate for such Advance, in arrears on DEMAND,
or if no demand has been made, on the last day of the Interest Period for such
Advance.  Any overdue amount of
principal, interest or other amount payable hereunder will bear interest,
payable on demand, at the Base Rate (as defined below) plus 2% per
annum.

 

 

 

                “Quoted Rate” means, for any Quoted Rate Advance, a rate
quoted by the Lender and agreed to by the Borrower for such Advance.

 

                “Base Rate” means a
fluctuating rate of interest announced publicly by Citibank, N.A. in New York,
New York from time to time as its base rate.

 

                5.  Left Blank Intentionally

 

 

                6.  If, due to either the adoption of any
applicable law, rule or regulation, or any change in any applicable law, rule
or regulation, or any change in the interpretation or administration thereof by
any governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or compliance by any Lender (or its
Applicable Lending Office) with any request or directive (whether or not having
the force of law) or compliance by any Lender (or its Applicable Lending
Office) with any request or directive (whether or not having the force of law)
of any such authority, central bank or comparable agency, there is any increase in the cost to
the Lender of agreeing to make or making, funding or maintaining Advances, then
the Borrower will from time to time, upon the Lender’s demand, pay to the
Lender additional amounts sufficient to compensate the Lender for such
increased cost.  In addition, if the
Lender determines that compliance with any law or regulation or any guideline
or request from any central bank or other governmental authority (whether or
not having the force of law) after the date hereof affects or would affect the
amount of capital required or expected to be maintained by the Lender or any
corporation controlling the Lender and that the amount of such capital is
increased by or based upon the existence of Advances hereunder,  then, upon the Lender’s demand, the Borrower
will immediately pay to the Lender, from time to time as specified by the
Lender, additional amounts sufficient to compensate the Lender or such
corporation in the light of such circumstances, to the extent that the Lender
reasonably determines such increase in capital to be allocable to the existence
of  the Advances hereunder.  A certificate as to such amounts submitted to
the Borrower by the Lender will be conclusive and binding for all purposes,
absent manifest error.  Notwithstanding
any other provision of this Agreement, if the introduction of or any change in
or in the interpretation of any law or regulation makes it unlawful, or any
central bank or other governmental authority asserts that it is unlawful, for
the Lender to fund or maintain Advances made hereunder, then, on notice thereof
and demand therefor made by the Lender, each Advance will automatically, upon
such demand, convert into an Advance accruing interest at the Base Rate.  Any Advance accruing interest at the Base
Rate will continue to be an “Advance” for the purposes of this Agreement.

 

                7.  The Borrower will make each payment (whether
in respect of principal, interest or otherwise) payable by it hereunder,
irrespective of any right of counterclaim or set-off, not later than 2:00 P.M.
(New York City time) on the day when due in U.S. dollars to the Lender at 399
Park Avenue New York, NY, 10022 in same day funds.  The Borrower hereby authorizes the Lender, if
and to the extent payment

 

 

2

 

owed to the Lender is not made when due hereunder, to
charge from time to time against any or all of the Borrower’s accounts with the
Lender or any of the Lender’s affiliates any amount so due.  All computations of interest will be made by
the Lender on the basis of a year of 360 days, in each case for the actual
number of days (including the first day but excluding the last day) occurring
in the period for which such interest is payable.  Each determination by the Lender of an
interest rate hereunder will be conclusive and binding for all purposes, absent
manifest error.  Whenever any payment
hereunder is stated to be due on a day other than a Business Day, such payment
will be made on the next succeeding Business Day, and such extension of time
will in such case be included in the computation of payment of interest.

 

                8.  This Agreement will become effective on and as
of the first date (the “Effective Date”)
on which the Lender has received the following, each in form and substance
satisfactory to the Lender: (i) a counterpart of this Agreement duly executed
by the Lender and the Borrower; (ii) certified copies of the resolutions of the
Borrower’s Board of Directors (“Board”) or committee of the Board approving
this Agreement, and of all other documents evidencing necessary corporate
action and governmental and other third party approvals, if any, with respect
to this Agreement; and (iii) a certificate of the Borrower’s Secretary or
Assistant Secretary certifying the names and true signatures of the Borrower’s
officers authorized to sign this Agreement and the other documents to be
delivered hereunder and to request Advances hereunder (“Designated
Officers”).

 

                                                                9.  Each request by the Borrower for an Advance
and the acceptance by the Borrower of the proceeds of such Advance will
constitute a representation and warranty by the Borrower that on the date of
such Advance the representations and warranties contained in Section 10 are
correct on and as of the date of such Advance, before and after giving effect
to such Advance and to the application of the proceeds therefrom, as though
made on and as of such date (other than any such representations or warranties
that, by their terms, refer to a date other than the date of such
Advance).  In addition, the Borrower
agrees to deliver to the Lender such other documents and other information requested
by the Lender in connection with an Advance requested by the Borrower.

 

                10.  The Borrower represents and warrants as
follows:

 

(a) It is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
incorporation.

 

(b) The execution,
delivery and performance by the Borrower of this Agreement, and the
consummation of the transactions contemplated hereby, are within the Borrower’s
corporate powers and authority, have been duly authorized by all necessary
corporate action, and do not contravene (i) its charter or by-laws or (ii) any
law or any contractual restriction binding on or affecting it.

 

(c) No
authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body or any other third party is
required for the due execution, delivery and performance by the Borrower of
this Agreement.

 

(d) This Agreement
has been duly executed and delivered by the Borrower, and is its legal, valid
and binding obligation enforceable against the Borrower in accordance with its
terms.

 

 

3

 

(e) There is no
pending or threatened action, suit, investigation, litigation or proceeding
affecting the Borrower or its subsidiaries before any court, governmental
agency or arbitrator that (i) could be reasonably likely to have a material
adverse effect on the business, operations, condition (financial or otherwise)
or prospects of the Borrower and its subsidiaries taken as a whole, the
Lender’s rights and remedies under this Agreement, or the Borrower’s ability to
perform its obligations under this Agreement, or (ii) purports to affect the
legality, validity or enforceability of this Agreement or the consummation of
the transactions contemplated hereby.

 

(f) The Borrower is
not an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended.

 

(g) No report,
financial statement, certificate or other information furnished (whether in
writing or orally) by or on behalf of the Borrower to the Lender in connection
with the transactions contemplated hereby and the negotiation of this Agreement
or delivered hereunder (as modified or supplemented by other information so
furnished) contains any material misstatement of fact or omits to state any
material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that, with
respect to any projected financial information, the Borrower represents only
that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time.

 

(h) No proceeds of
any Advance will be used to purchase or carry any margin stock (within the
meaning of Regulation U issued by the Board of Governors of the Federal Reserve
System) or to extend credit to others for the purpose of purchasing or carrying
any margin stock.

 

                11.  This Agreement may be terminated by the
Borrower or the Lender by giving written notice of termination to the other
party hereto, but no such termination will affect the Borrower’s obligations
with respect to Advances outstanding at the time of such termination.  The Lender may amend or modify the terms and
conditions of this Agreement at any time without prior notice to the Borrower
and without the Borrower’s consent, but no such amendment or modification will
affect the Borrower’s obligations with respect to Advances outstanding at the
time of such amendment or modification. 
At the time the Borrower makes a request for an Advance, the Lender
agrees to notify the Borrower of any such amendment or modification, provided
that neither the Lender’s agreement to so notify the Borrower, nor the Lender’s
failure to so notify the Borrower, will affect the uncommitted nature of this
Agreement.

 

                12.  All notices and other communications provided
for hereunder will be in writing (including telecopier communication) and
mailed, telecopied or delivered, if to the Borrower, at its address at 5555 San
Felipe, Houston, TX  77056, Attention:
Treasurer; if to the Lender, at its address at One Penn’s Way, New Castle, DE,
19720, Attention: Dennis Banfield, Loan Administrator; or, as to either party,
at such other address as is designated by such party in a written notice to the
other party.  All such notices and
communications will, when mailed or telecopied, be effective three Business
Days after deposit in the mails, or when telecopied, respectively, except that
notices and communications to the Lender pursuant to Sections 2, 3 or 11 will
not be effective until received by the Lender.

 

                13.  No failure on the Lender’s part to exercise,
and no delay in exercising, any right hereunder will operate as a waiver
thereof; nor will any single or partial exercise of any such right preclude any

 

4

 

other or further exercise thereof or the exercise of
any other right.  The remedies provided
herein are cumulative and not exclusive of any remedies provided by law.

 

                14.  (a) 
The Borrower agrees to pay on demand all of the Lender’s reasonable
out-of-pocket costs and expenses (including without limitation, reasonable
counsel fees and expenses) in connection with the preparation, execution,
delivery, administration, modification, amendment and enforcement (whether
through negotiations, legal proceedings or otherwise) of this Agreement.

 

                (b)  The Borrower will defend, indemnify and hold
harmless the Lender, its affiliates and each of its and their respective
officers, directors, employees, agents, advisors and representatives (each, an
“Indemnified Party”) from and against
any and all claims, damages, losses, liabilities and expenses (including
without limitation, reasonable fees and disbursements of counsel), that may be
incurred by or asserted or awarded against any Indemnified Party (including
without limitation, in connection with any investigation, litigation or
proceeding, or the preparation of a defense in connection therewith), in each
case arising out of or in connection with this Agreement, any of the
transactions contemplated hereby or any actual or proposed use of the proceeds
of the Advances, except to the extent such claim, damage, loss, liability or
expense is found in a final non-appealable judgment by a court of competent
jurisdiction to have resulted primarily from such Indemnified Party’s gross
negligence or willful misconduct.  In the
case of an investigation, litigation or other proceeding to which the indemnity
in this Section applies, such indemnity will be effective whether or not such
investigation, litigation or proceeding is brought by the Borrower, any of its
directors, security holders or creditors, an Indemnified Party or any other
person, or any Indemnified Party is otherwise a party thereto, and whether or
not the transactions contemplated hereby are consummated.

 

                (c)  No Indemnified Party will have any liability
(whether in contract, tort or otherwise) to the Borrower or any of its security
holders or creditors for or in connection with the transactions contemplated
hereby, except for direct damages (as opposed to special, indirect,
consequential or punitive damages (including without limitation, any loss of
profits, business or anticipated savings)) determined in a final non-appealable
judgment by a court of competent jurisdiction to have resulted from such
Indemnified Party’s gross negligence or willful misconduct.

 

                15.  If the Borrower makes any payment of
principal of any Advance on any day other than the last day of the Interest
Period applicable thereto (as a result of a prepayment, demand, conversion of
the interest rate for any Advance to the Base Rate pursuant to Section 6, or
otherwise), or if the Borrower fails to borrow or prepay any Advance after the
Borrower has given the Lender notice thereof and, in the case of a borrowing,
the Lender has agreed to make such Advance, the Borrower will, upon demand by
the Lender, pay the Lender any amounts required to compensate the Lender for
any losses, costs or expenses that the Lender may reasonably incur as a result
of such payment or failure to borrow or prepay.

 

                16.  This Agreement is binding upon and will inure
to the benefit of the Borrower, the Lender and their respective
successors.  Either party may, with the
written consent of the other party (which consent will not be unreasonably
withheld), assign to one or more persons all or a portion of its rights and
obligations under this Agreement, provided that the consent of the
Borrower will not be required in connection with an assignment to an affiliate
of the Lender.  Notwithstanding any other
provisions set forth in this Agreement, the Lender may at any time create a
security interest in all or any portion of the Lender’s rights under this
Agreement in favor of any Federal Reserve Bank.

 

5

 

                17.  This Agreement will be governed by, and
construed in accordance with, the laws of the State of New York.  This Agreement may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each
of which when so executed will be deemed to be an original and all of which
taken together will constitute one and the same agreement.

 

                18.  The Borrower hereby irrevocably (i) submits
to the non-exclusive jurisdiction of any New York State or Federal court
sitting in New York City in any action or proceeding arising out of or relating
to this Agreement, (ii) agrees that all claims in respect of such action or
proceeding may be heard and determined in such New York State court or in such
Federal court, (iii) waives, to the fullest extent it may effectively do so,
the defense of an inconvenient forum to the maintenance of such action or
proceeding, and (iv) irrevocably consents to the service of any and all process
in any such action or proceeding by the mailing of copies of such process to
the Borrower at its address specified in Section 12.  The Borrower agrees that a final judgment in
any such action or proceeding will be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by
law.  Nothing herein will affect the
Lender’s right to serve legal process in any other manner permitted by law or
affect the Lender’s right to bring any action or proceeding against the
Borrower or its property in the courts of other jurisdictions.

 

                19.  If a payment has not been made by the
Borrower when due hereunder, the Lender and each of its affiliates is
authorized at any time and from time to time, to the fullest extent permitted
by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other obligations at any
time owing by the Lender or any of its affiliates to or for the Borrower’s
credit or account against any and all of the Borrower’s obligations now or
hereafter existing under this Agreement, irrespective of whether the Lender has
made demand under this Agreement and although such obligations may be
unmatured.  The Lender’s rights under
this Section are in addition to other rights and remedies (including without
limitation, other rights of set-off) which the Lender may have.

 

                20.  Each of the parties hereto hereby irrevocably
waives all right to trial by jury in any action, proceeding or counterclaim
(whether based on contract, tort or otherwise) arising out of or relating to
this Agreement, the Advances or the Lender’s actions in the negotiation,
administration, performance or enforcement hereof or thereof.

 

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

 

	
   

  	
   

  	
   

  	
   

  	
  ATB Holdings Inc.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Joseph R. Broan

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Joseph R. Broan

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant Treasurer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

6

 

	
   

  	
   

  	
   

  	
   

  	
  CITIBANK, N.A.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Gordon Dekuyper

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Gordon Dekuyper

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Attorney-in-Fact

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

7

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