Document:

Exhibit 10.1 (3Q14)

FIRST AMENDMENT TO CREDIT AGREEMENT
This FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of November 3, 2014 is entered into by and among OAKTREE CAPITAL MANAGEMENT, L.P., a Delaware limited partnership, OAKTREE CAPITAL II, L.P., a Delaware limited partnership, OAKTREE AIF INVESTMENTS, L.P., a Delaware limited partnership, OAKTREE CAPITAL I, L.P., a Delaware limited partnership (each a “Borrower” and collectively, the “Borrowers”); the Required Lenders (as defined in the Credit Agreement referred to below); and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).  Capitalized terms used and not otherwise defined in this Amendment shall have the same meanings in this Amendment as set forth in the Credit Agreement defined below.  
WHEREAS, the above mentioned parties have previously entered into that certain Credit Agreement, dated as of March 31, 2014 (as in effect prior to the First Amendment Effective Date (as defined herein), the “Credit Agreement”).
WHEREAS, the Borrowers have requested certain amendments to the Credit Agreement as set forth below, and the Administrative Agent and the Required Lenders, on the terms and subject to the conditions set forth herein, have agreed to so amend the Credit Agreement.
NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and agreements set forth below and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereby agree, except as otherwise set forth herein, as of the First Amendment Effective Date as follows:
SECTION 1.Amendments. On the terms of this Amendment and subject to the satisfaction of the conditions precedent set forth in Section 2 below, the Credit Agreement is hereby amended as follows:

(a)    Restricted Payments.  Clause “(b)” of Section 6.5 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“that so long as no Default or Event of Default shall have occurred and be continuing or would result therefrom, the Borrowers or any of their respective Subsidiaries may (i) declare and pay dividends with respect to its Capital Stock payable solely in additional shares of its Capital Stock, (ii) declare and pay dividends or make distributions in cash solely to holders of its Capital Stock or (iii) make or agree to make a payment on account of  the purchase, redemption, retirement, acquisition, cancellation or termination of any shares of Capital Stock of any Borrower,”
(b)    Transactions with Affiliates.  Schedule 6.6 of the Credit Agreement is hereby amended and replaced in its entirety by Schedule 6.6 attached to this Amendment.

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SECTION 2.    Conditions Precedent to the Effectiveness of this Amendment.  The provisions of Section 1 above are conditioned upon, and such provisions shall not be effective until, satisfaction of the following conditions (the first date on which all of the following conditions have been satisfied being referred to herein as the “First Amendment Effective Date”):
(a)    The Administrative Agent shall have received, on behalf of the Lenders, this Amendment, duly executed and delivered by the Borrowers, the Required Lenders and the Administrative Agent.
(b)    No Default or Event of Default shall have occurred and be continuing.
(c)    The representations and warranties set forth in this Amendment shall be true and correct as of the First Amendment Effective Date.
(d)    The Borrowers shall have paid all fees and expenses payable to the Administrative Agent and the Lenders to be paid on or prior to the First Amendment Effective Date (including all fees and expenses of counsel to the Administrative Agent).  
SECTION 3.    Representations and Warranties.  In order to induce the Administrative Agent and the Required Lenders to enter into this Amendment and to amend the Credit Agreement in the manner provided in this Amendment, the Borrowers represent and warrant to the Administrative Agent and each Lender as follows:
(a)    Power and Authority.  Each Borrower has all requisite power and authority to enter into this Amendment and to carry out the transactions contemplated by, and perform its obligations under, the Credit Agreement as amended by this Amendment (hereafter referred to as the “Amended Credit Agreement”).
(b)    Authorization of Agreements.  The execution and delivery of this Amendment by the Borrowers and the performance of the Amended Credit Agreement by the Borrowers have been duly authorized by all necessary action, and this Amendment has been duly executed and delivered by the Borrower.  
(c)    Enforceability.  Each of this Amendment and the Amended Credit Agreement constitutes the legal, valid and binding obligation of the Borrowers, enforceable against the Borrowers in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity.
(d)    No Conflict.  The execution and delivery by the Borrowers of this Amendment and the performance by the Borrowers of each of this Amendment and the Amended Credit Agreement do not and will not (i) require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect, (ii) violate any applicable law or regulation other than violations which, individually or in the aggregate, would not reasonably be expected to have a 

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Material Adverse Effect, (iii) violate the charter, by-laws, articles, limited liability company agreement, limited partnership agreement or other organizational documents of any Borrower or any Subsidiary or any order of any Governmental Authority, (iv) violate or result in a default under any indenture, agreement or other instrument binding upon any Borrower or any  Subsidiary or the assets of any Borrower or any Subsidiary other than violations or defaults which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (v) give rise to a right under any indenture, agreement or other instrument binding upon any Borrower or any Subsidiary or upon the assets of any Borrower or any Subsidiary to require any material payment to be made by any Borrower or any Subsidiary, and (vi) result in the creation or imposition of any Lien on any asset of any Borrower or any Subsidiary.
(e)    Governmental Consents.  No authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by the Borrowers of this Amendment.
(f)    Representations and Warranties in the Credit Agreement.  The Borrowers confirm that the representations and warranties contained in Article III of the Credit Agreement are (before and after giving effect to this Amendment) true and correct in all material respects (or if qualified by materiality or Material Adverse Effect, in all respects) as of the First Amendment Effective Date (other than with respect to Schedule 3.13 referenced in clause (a) of Section 3.13 of the Credit Agreement, which is true and correct as of the Effective Date, and except to the extent any such representation and warranty is expressly stated to have been made as of a specific date, in which case it shall be true and correct as of such specific date) and that no Default or Event of Default has occurred and is continuing.
SECTION 4.    Miscellaneous.
(a)    Reference to and Effect on the Credit Agreement and the other Loan Documents.
(i)    Except as specifically amended by this Amendment and the documents executed and delivered in connection herewith, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.
(ii)    The execution and delivery of this Amendment and performance of the Amended Credit Agreement shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders under, the Credit Agreement or any of the other Loan Documents.
(iii)    Upon the conditions precedent set forth herein being satisfied, this Amendment shall be construed as one with the Credit Agreement, and the Credit Agreement shall, where the context requires, be read and construed throughout so as to incorporate this Amendment.

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(iv)    If there is any conflict between the terms and provisions of this Amendment and the terms and provisions of the Credit Agreement or any other Loan Document, the terms and provisions of this Amendment shall govern.
(b)    Expenses.  The Borrowers acknowledge that all reasonable costs and expenses of the Administrative Agent incurred in connection with this Amendment will be paid in accordance with Section 9.3 of the Credit Agreement.
(c)    Headings.  Section and subsection headings in this Amendment are included for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect.
(d)    Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.  Transmission by telecopier of an executed counterpart of this Amendment shall be deemed to constitute due and sufficient delivery of such counterpart.
(e)    Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of New York without reference to conflicts of law rules other than Section 5-1401 of the General Obligations Law of the State of New York.
(f)    Loan Document.  This Amendment is a Loan Document as defined in the Credit Agreement, and the provisions of the Credit Agreement generally applicable to Loan Documents are applicable hereto and incorporated herein by this reference.

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IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first above written.  
	
				
	OAKTREE CAPITAL MANAGEMENT, L.P.
	 

	 
	 
	 
	 

	By:
	 
	/s/ David M. Kirchheimer
	 

	 
	Name:
	David M. Kirchheimer

	 
	Title:
	Principal, Chief Financial and Administrative Officer

	 
	 
	 
	 

	By:
	 
	/s/ Richard Ting
	 

	 
	Name:
	Richard Ting

	 
	Title:
	Managing Director, Associate General Counsel & Assistant Secretary

	 
	 
	 
	 

	OAKTREE CAPITAL II, L.P.
	 

	 
	 
	 
	 

	By:
	 
	/s/ David M. Kirchheimer
	 

	 
	Name:
	David M. Kirchheimer

	 
	Title:
	Principal, Chief Financial and Administrative Officer

	 
	 
	 
	 

	By:
	 
	/s/ Richard Ting
	 

	 
	Name:
	Richard Ting

	 
	Title:
	Managing Director, Associate General Counsel & Assistant Secretary

	 
	 
	 
	 

	OAKTREE AIF INVESTMENTS, L.P.
	 

	 
	 
	 
	 

	By:
	 
	/s/ David M. Kirchheimer
	 

	 
	Name:
	David M. Kirchheimer

	 
	Title:
	Principal, Chief Financial and Administrative Officer

	 
	 
	 
	 

	By:
	 
	/s/ Richard Ting
	 

	 
	Name:
	Richard Ting

	 
	Title:
	Managing Director, Associate General Counsel & Assistant Secretary

	 
	 
	 
	 

	OAKTREE CAPITAL I, L.P.
	 

	 
	 
	 
	 

	By:
	 
	/s/ David M. Kirchheimer
	 

	 
	Name:
	David M. Kirchheimer

	 
	Title:
	Principal, Chief Financial and Administrative Officer

	 
	 
	 
	 

	By:
	 
	/s/ Richard Ting
	 

	 
	Name:
	Richard Ting

	 
	Title:
	Managing Director, Associate General Counsel & Assistant Secretary

	 
	 
	 
	 

Signature Page to First Amendment to Credit Agreement - Oaktree

	
				
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, L/C Issuer, Swing Line Lender and a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Janet Yamamoto
	 

	 
	Name:
	Janet Yamamoto
	 

	 
	Title:
	Senior Vice President
	 

	
				
	HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Stephanie W. Lee
	 

	 
	Name:
	Stephanie W. Lee
	 

	 
	Title:
	Director
	 

	
				
	THE BANK OF NEW YORK MELLON, as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Joanne Carey
	 

	 
	Name:
	Joanne Carey
	 

	 
	Title:
	Vice President
	 

	
				
	BANK OF AMERICA, N.A., as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Matthew White
	 

	 
	Name:
	Matthew White
	 

	 
	Title:
	Vice President
	 

	
				
	CITIBANK, N.A., as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Dane Graham
	 

	 
	Name:
	Dane Graham
	 

	 
	Title:
	Vice President
	 

	
				
	GOLDMAN SACHS BANK USA, as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Michelle Latzoni
	 

	 
	Name:
	Michelle Latzoni
	 

	 
	Title:
	Authorized Signatory
	 

	
				
	MORGAN STANLEY BANK, N.A., as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Harry Comninellis
	 

	 
	Name:
	Harry Comninellis
	 

	 
	Title:
	Authorized Signatory
	 

	
				
	MUFG UNION BANK, N.A. 
(f/k/a UNION BANK, N.A.), as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Rafael Vistan
	 

	 
	Name:
	Rafael Vistan
	 

	 
	Title:
	Director
	 

	
				
	BARCLAYS BANK PLC, as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Alicia Borys
	 

	 
	Name:
	Alicia Borys
	 

	 
	Title:
	Vice President
	 

	
				
	DEUTSCHE BANK AG NEW YORK BRANCH,
as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Kirk L. Tashjian
	 

	 
	Name:
	Kirk L. Tashjian
	 

	 
	Title:
	Vice President
	 

	 
	 
	 
	 

	By:
	 
	/s/ Lisa Wong
	 

	 
	Name:
	Lisa Wong
	 

	 
	Title:
	Vice President
	 

	
				
	U.S. BANK NATIONAL ASSOCIATION, as a Lender

	 
	 
	 
	 

	By:
	 
	/s/ Robert C. Mayer, Jr.
	 

	 
	Name:
	Robert C. Mayer, Jr.
	 

	 
	Title:
	Vice PresidentTHIS SECURITY HAS NOT BEEN REGISTERED
WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE OR UNDER THE SECURITIES ACT
OF 1933, AS AMENDED. THE SECURITIES ARE RESTRICTED AND MAY NOT BE OFFERED, RESOLD, PLEDGED OR TRANSFERRED EXCEPT AS PERMITTED UNDER
THE ACT PURSUANT TO REGISTRATION OR EXEMPTION OR SAFE HARBOR THEREFROM.

 

BLUEFIRE RENEWABLES, INC.

 

PROMISSORY NOTE DUE JULY 17, 2015

 

THIS Note is a duly authorized issuance
of up to $60,000.00 of BLUEFIRE RENEWABLES, INC., a Nevada corporation (the “Company”) designated as its Note.

 

 FOR VALUE
RECEIVED, the Company promises to pay to KODIAK CAPITAL GROUP, LLC, the registered holder hereof (the “Holder”), the
principal sum of Sixty thousand and 00/100 Dollars (US $60,000.00) on July 17, 2015 (the “Maturity Date”). The principal
of this Note is payable in United States dollars, at the address last appearing on the Note Register of the Company as designated
in writing by the Holder. The Company will pay the outstanding principal amount of this Note in cash on the Maturity Date to the
registered holder of this Note. The forwarding of such wire transfer shall constitute a payment hereunder and shall satisfy and
discharge the liability for principal on this Note to the extent of the sum represented by such check or wire transfer plus any
amounts so deducted.

 

This Note is
subject to the following additional provisions:

 

1. The Note
is exchangeable for an equal aggregate principal amount of Note of different authorized denominations, as requested by the Holder
surrendering the same. No service charge will be made for such registration or transfer or exchange.

 

2. This
Note has been issued subject to investment representations of the original purchaser hereof and may be transferred or
exchanged only in compliance with the Securities Act of 1933, as amended (the “Act”), and other applicable state
and foreign securities laws. In the event of any proposed transfer of this Note, the Company may require, prior to issuance
of a new Note in the name of such other person, that it receive reasonable transfer documentation including legal opinions
that the issuance of the Note in such other name does not and will not cause a violation of the Act or any applicable state
or foreign securities laws. Prior to due presentment for transfer of this Note, the Company and any agent of the Company may
treat the person in whose name this Note is duly registered on the Company’s Note Register as the owner hereof for the
purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be overdue, and neither
the Company nor any such agent shall be affected by notice to the contrary.

 

3. No
provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal
of this Note at the time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct obligation of
the Company.

 

4. The
Holder of the Note, by acceptance hereof, agrees that this Note is being acquired for investment and that such Holder will not
offer, sell or otherwise dispose of this Note except under circumstances which will not result in a violation of the Act or any
applicable state Blue Sky or foreign laws or similar laws relating to the sale of securities.

 

5. This
Note shall be governed by and construed in accordance with the laws of the State of New York. Each of the parties consents to
the jurisdiction of the federal courts whose districts encompass any part of the City of New York or the state courts of the
State of New York sitting in the City of New York in connection with any dispute arising under this Note and hereby waives,
to the maximum extent permitted by law, any objection, including any objection based on forum non conveniens, to the bringing
of any such proceeding in such jurisdictions. Each of the parties hereby waives the right to a trial by jury in connection
with any dispute arising under this Note.

 

    	 

    	 

    

 

6. The following
shall constitute an “Event of Default”:

 

a. The
Company shall default in the payment of principal on this Note and same shall continue for a period of five (5) days; or

 

b. Any of the representations or warranties made by the Company herein, in any certificate or financial or other written statements
heretofore or hereafter furnished by the Company in connection with the execution and delivery of this Note shall be false or misleading
in any material respect at the time made; or

 

c. The
Company shall fail to perform or observe, in any material respect, any other covenant, term, provision, condition, agreement or
obligation of any Note and such failure shall continue uncured for a period of thirty (30) days after written notice from the Holder
of such failure; or

 

d. The Company shall (1) make an assignment for the benefit of creditors or commence proceedings for its dissolution; or (2) apply
for or consent to the appointment of a trustee, liquidator or receiver for its or for a substantial part of its property or business;
or

 

e. A
trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without
its consent and shall not be discharged within sixty (60) days after such appointment; or

 

f. Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody
or control of the whole or any substantial portion of the properties or assets of the Company and shall not be dismissed within
sixty (60) days thereafter; or

 

g. Any money judgment, writ or warrant of attachment, or similar process in excess of One Hundred Fifty Thousand Dollars ($150,000)
in the aggregate shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid,
unvacated, unbonded or unstayed for a period of thirty (30) days or in any event later than five (5) days prior to the date of
any proposed sale thereunder; or

 

h. Bankruptcy, reorganization, insolvency or liquidation proceedings or other proceedings for relief under any bankruptcy law or any
law for the relief of debtors shall be instituted by or against the Company and, if instituted against the Company, shall not be
dismissed within sixty (60) days after such institution or the Company shall by any action or answer approve of, consent to, or
acquiesce in any such proceedings or admit the material allegations of, or default in answering a petition filed in any such proceeding;
or

 

Then, or at any time thereafter,
and in each and every such case, unless such Event of Default shall have been waived in writing by the Holder (which waiver shall
not be deemed to be a waiver of any subsequent default) at the option of the Holder and in the Holder’s sole discretion,
the Holder may consider all obligations under this Note immediately due and payable within five (5) days of notice, without presentment,
demand, protest or notice of any kinds, all of which are hereby expressly waived, anything herein or in any note or other instruments
contained to the contrary notwithstanding, and the Holder may immediately enforce any and all of the Holder’s rights and
remedies provided herein or any other rights or remedies afforded by law.

 

[-Signature page follows-]

 

    	 

    	 

    

 

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed by an officer thereunto duly authorized.

 

Dated: December 17, 2014

 

BLUEFIRE RENEWABLES, INC.

 

	By:	/s/ Arnold R. Klann	 
	Name:	Arnold R. Klann	 
	Title:	Chief Executive Officer

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