Document:

Exhibit 10.4

 

THIRTEENTH AMENDMENT TO CREDIT AND SECURITY
 AGREEMENTS AND WAIVER OF DEFAULT

 

THIS THIRTEENTH AMENDMENT TO CREDIT AND SECURITY AGREEMENTS AND WAIVER OF DEFAULT (the “Amendment”), dated as of November 3, 2014, is entered into by and between CAPSTONE TURBINE CORPORATION, a Delaware corporation (“Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”).

 

RECITALS

 

A.                                    Company and Wells Fargo are parties to (i) a Credit and Security Agreement dated February 9, 2009 (as amended by that certain First Amendment to Credit and Security Agreements, dated June 9, 2009 (“First Amendment”), that certain Second Amendment to Credit and Security Agreements and Waiver of Defaults, dated November 5, 2009 (“Second Amendment”), that certain Third Amendment to Credit and Security Agreements and Waiver of Default, dated June 11, 2010 (“Third Amendment”), that certain Fourth Amendment to Credit and Security Agreements, dated June 29, 2010 (“Fourth Amendment”), that certain Fifth Amendment to Credit and Security Agreements, dated November 9, 2010 (“Fifth Amendment”), that certain Sixth Amendment to Credit and Security Agreement and Waiver of Default, dated March 23, 2011 (“Sixth Amendment”), that certain Seventh Amendment to Credit and Security Agreements and Waiver of Default, dated June 2, 2011 (“Seventh Amendment”), that certain Eighth Amendment to Credit and Security Agreements, dated September 27, 2011 (“Eighth Amendment”), that certain Ninth Amendment to Credit and Security Agreements and Waiver of Default, dated February 7, 2012 (“Ninth Amendment”), that certain Tenth Amendment to Credit and Security Agreement, dated June 11, 2012 (“Tenth Amendment”), that certain Eleventh Amendment to Credit and Security Agreement, dated June 5, 2013 (“Eleventh Amendment”), and that certain Twelfth Amendment to Credit and Security Agreement, dated June 9, 2014 (“Twelfth Amendment”), and as further amended from time to time, the “Domestic Credit Agreement”), and (ii) a Credit and Security Agreement (Ex-Im Subfacility), dated February 9, 2009 (as amended by the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment, the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment, and the Twelfth Amendment, and as further amended from time to time, the “Ex-Im Credit Agreement”; and together with the Domestic Credit Agreement, the “Credit Agreements”).  Capitalized terms used in these recitals have the meanings given to them in the Credit Agreements unless otherwise specified.

 

B.                                    Company has requested that (i) certain amendments be made to the Credit Agreements, and (ii) an Event of Default be waived, both of which Wells Fargo is willing to agree to pursuant to the terms and conditions set forth herein

 

 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein contained, it is agreed as follows:

 

1.                                      Amendments to Credit Agreements.  The Credit Agreements are amended as follows:

 

1.1                               Section 5.2(b) of the Credit Agreements.  Section 5.2(b) of the Credit Agreements is amended to read in its entirety as follows:

 

“(b)                           Minimum Adjusted Net Income.  Company shall achieve Adjusted Net Income, measured on each of the following test dates described below, for the periods specified below, of not less than the amount set forth opposite each such test date and test period (numbers appearing between “< >“ are negative):

 

	
Test Date and Test Period
    	
 
    	
Minimum Adjusted Net Income
    
	
Fiscal Year to Date Period   ending December 31, 2014
    	
 
    	
$<16,250,000>
    
	
Fiscal Year to Date Period   ending March 31, 2015
    	
 
    	
$<17,550,000>
    

 

2.                                      Waiver of Default.  Company is in default of the following provision of the Credit Agreements (the “Existing Default”):

 

	
Section/Covenant
    	
 
    	
Description
    
	
Section 5.2(b)

(Minimum Net Income)
    	
 
    	
Company   breached the minimum Adjusted Net Income covenant for the quarter ended   September 30, 2014.
    

 

Upon the terms and subject to the conditions set forth in this Amendment (including, but not limited to, the effectiveness of this Amendment in accordance with Section 5 of this Amendment), Wells Fargo hereby waives the Existing Default.  This waiver shall be effective only in this specific instance and for the specific purpose for which it is given, and this waiver shall not entitle Company to any other or further waiver in any similar or other circumstances.

 

3.                                      No Other Changes.  Except as explicitly amended by this Amendment, all of the terms and conditions of the Credit Agreements and the other Loan Documents shall remain in full force and effect and shall apply to any advance or letter of credit thereunder.

 

4.                                      Accommodation Fee.  Company shall pay Wells Fargo as of the date hereof a fully earned, non-refundable accommodation fee in the amount of $20,000 in consideration of Wells Fargo’s execution and delivery of this Amendment (the “Accommodation Fee”).

 

5.                                      Conditions Precedent.  This Amendment shall be effective when Wells Fargo shall have received an executed original of this Amendment, together with each of the following, each in substance and form acceptable to Wells Fargo in its sole discretion:

 

5.1                               A Certificate of Authority from the Company’s corporate secretary certifying as to (i) the resolutions of the board of directors of Company approving the execution and delivery of this Amendment, (ii) the fact that the certificate of incorporation and bylaws of Company, which were certified and delivered to Wells Fargo pursuant to the Certificate of Authority of

 

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Company’s secretary or assistant secretary dated February 9, 2009, continue in full force and effect and have not been amended or otherwise modified except as set forth in the Certificate to be delivered, and (iii) the fact that the officers and agents of Company who have been certified to Wells Fargo, pursuant to the Certificate of Authority of Company’s secretary or assistant secretary dated February 9, 2009, as being authorized to sign and to act on behalf of Company continue to be so authorized;

 

5.2                               Payment of the Accommodation Fee described in Section 4 of this Amendment;

 

5.3                               Consent and approval of this Amendment by the Export Import Bank of the United States, if required by Wells Fargo;

 

5.4                               The Acknowledgement and Agreement of Guarantor set forth at the end of this Amendment, duly executed by Guarantor; and

 

5.5                               Such other matters as Wells Fargo may require.

 

6.                                      Representations and Warranties.  Company hereby represents and warrants to Wells Fargo as follows:

 

6.1                               Company has all requisite power and authority to execute this Amendment and any other agreements or instruments required hereunder and to perform all of its obligations hereunder, and this Amendment and all such other agreements and instruments have been duly executed and delivered by Company and constitute the legal, valid and binding obligation of Company, enforceable in accordance with their terms.

 

6.2                               The execution, delivery and performance by Company of this Amendment and any other agreements or instruments required hereunder have been duly authorized by all necessary corporate action and do not (i) require any authorization, consent or approval by any governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, (ii) violate any provision of any law, rule or regulation or of any order, writ, injunction or decree presently in effect, having applicability to Company, or the certificate of incorporation or bylaws of Company, or (iii) result in a breach of or constitute a default under any indenture or loan or credit agreement or any other agreement, lease or instrument to which Company is a party or by which it or its properties may be bound or affected.

 

6.3                               After giving effect to this Amendment, all of the representations and warranties contained in Section 4 of, and Exhibit D to, the Credit Agreements are true and correct in all material respects on and as of the date hereof as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date (in which case they shall continue to be true and correct as of such earlier date), provided that the Existing Default has occurred.

 

7.                                      References.  All references in the Credit Agreements to “this Agreement” shall be deemed to refer to the relevant Credit Agreement as amended hereby; and any and all references in the Security Documents to the Credit Agreements shall be deemed to refer to the relevant Credit Agreement as amended hereby.

 

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8.                                      No Waiver.  Except as expressly provided in Section 2 of this Amendment, the execution of this Amendment and the acceptance of all other agreements and instruments related hereto shall not be deemed to be a waiver of any Default or Event of Default under the Credit Agreements or a waiver of any breach, default or event of default under any Security Document or other document held by Wells Fargo, whether or not known to Wells Fargo and whether or not existing on the date of this Amendment.

 

9.                                      Release.  Company and the Guarantor signing the Acknowledgment and Agreement of Guarantor set forth below hereby absolutely and unconditionally release and forever discharge Wells Fargo, and any and all participants, parent corporations, subsidiary corporations, affiliated corporations, insurers, indemnitors, successors and assigns thereof, together with all of the present and former directors, officers, agents, attorneys, and employees of any of the foregoing, from any and all claims, demands or causes of action of any kind, nature or description, whether arising in law or equity or upon contract or tort or under any state or federal law or otherwise, which either Company or Guarantor has had, now has or has made claim to have against any such person for or by reason of any act, omission, matter, cause or thing whatsoever arising from the beginning of time to and including the date of this Amendment, whether such claims, demands and causes of action are matured or unmatured or known or unknown.  It is the intention of the Company and Guarantor in executing this release that the same shall be effective as a bar to each and every claim, demand and cause of action specified and in furtherance of this intention the Company and Guarantor each waives and relinquishes all rights and benefits under Section 1542 of the Civil Code of the State of California, which provides:

 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MIGHT HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

 

The parties acknowledge that each may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such claims, demands, or causes of action and agree that this instrument shall be and remain effective in all respects notwithstanding any such differences or additional facts.

 

10.                               Costs and Expenses.  Company hereby reaffirms its agreement under the Credit Agreements to pay or reimburse Wells Fargo on demand for all costs and expenses incurred by Wells Fargo in connection with the Loan Documents, including, without limitation, all reasonable fees and disbursements of legal counsel.  Without limiting the generality of the foregoing, Company specifically agrees to pay all reasonable fees and disbursements of counsel to Wells Fargo for the services performed by such counsel in connection with the preparation of this Amendment and the documents and instruments incidental hereto.  Company hereby agrees that Wells Fargo may, at any time or from time to time in its sole discretion and without further authorization by Company, make a loan to Company under the Credit Agreements, or apply the proceeds of any loan, for the purpose of paying any such reasonable fees, disbursements, costs and expenses.

 

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11.                               Miscellaneous.  This Amendment and the Acknowledgment and Agreement of Guarantor may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original and all of which counterparts, taken together, shall constitute one and the same instrument.  Transmission by facsimile or “pdf” file of an executed counterpart of this Amendment shall be deemed to constitute due and sufficient delivery of such counterpart.  Any party hereto may request an original counterpart of any party delivering such electronic counterpart.  This Amendment and the rights and obligations of the parties hereto shall be construed in accordance with, and governed by, the laws of the State of California.  In the event of any conflict between this Amendment and the Credit Agreements, the terms of this Amendment shall govern.  The Export-Import Bank of the United States shall be an express intended beneficiary of this Amendment.

 

[Signatures on next page]

 

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

 

	
 
    	
WELLS   FARGO BANK,
    
	
 
    	
NATIONAL   ASSOCIATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Josephine Camalian
    
	
 
    	
Print   Name:  Josephine Camalian
    
	
 
    	
Title:    Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CAPSTONE   TURBINE CORPORATION
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Edward I. Reich
    
	
 
    	
Print   Name: 
    	
Edward   I. Reich
    
	
 
    	
Its:   
    	
EVP &   CFO
    
					

 

S-1

 

ACKNOWLEDGMENT AND AGREEMENT OF GUARANTOR

 

The undersigned, a guarantor of the indebtedness of Capstone Turbine Corporation (“Company”) to Wells Fargo Bank, National Association (as more fully defined in the Amendment, “Wells Fargo”), pursuant to the separate Guaranty dated February 9, 2009 (“Guaranty”), hereby (i) acknowledges receipt of the foregoing Thirteenth Amendment to Credit and Security Agreements and Waiver of Default (“Amendment”); (ii) consents and agrees to the terms (including, without limitation, the release set forth in Section 9 of the Amendment) and execution and performance thereof; (iii) reaffirms all obligations to Wells Fargo pursuant to the terms of the Guaranty; and (iv) acknowledges that Wells Fargo may amend, restate, extend, renew or otherwise modify the Credit Agreements and any indebtedness or agreement of the Company, or enter into any agreement or extend additional or other credit accommodations, without notifying or obtaining the consent of the undersigned and without impairing the liability of the undersigned under the Guaranty for all of the Company’s present and future indebtedness to Wells Fargo.

 

	
 
    	
CAPSTONE   TURBINE INTERNATIONAL, INC.
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Edward I. Reich
    
	
 
    	
Print   Name: 
    	
Edward   I. Reich
    
	
 
    	
Its:   
    	
EVP & CFO
    
					

 

1Exhibit 10.20a

 

FIRST
AMENDMENT TO CREDIT AGREEMENT

 

This FIRST AMENDMENT
TO CREDIT AGREEMENT (this “Amendment”) dated effective as of October 2, 2013, is entered into among AMERICAN
EAGLE ENERGY CORPORATION, a Nevada corporation (“Borrower”), the financial institutions party to the
Credit Agreement referenced below (each a “Lender” and collectively the “Lenders”)
and MORGAN STANLEY CAPITAL GROUP INC., as administrative agent for the benefit of the Lenders (in such capacity, together with
its successors in such capacity, “Administrative Agent”).

 

W I T
N E S S E T H:

 

WHEREAS, Borrower,
the Lenders and Administrative Agent, have entered into that certain Credit Agreement dated as of August 19, 2013 (as further amended,
modified or restated from time to time prior to the date hereof, the “Credit Agreement”);

 

WHEREAS, Borrower
has requested that the Credit Agreement be amended as set forth herein; and

 

WHEREAS, subject
to the conditions precedent set forth herein, the parties hereto have agreed to so amend the Credit Agreement.

 

NOW, THEREFORE,
for and in consideration of the mutual covenants and agreements contained herein, the parties to this Amendment hereby agree as
follows:

 

SECTION 1.Terms Defined
in Credit Agreement. As used in this Amendment, except as may otherwise be provided herein, all capitalized terms defined
in the Credit Agreement shall have the same meaning herein as therein, all of such terms and their definitions being incorporated
herein by reference. The Credit Agreement, as amended by this Amendment and as may be further amended, modified or restated from
time to time, is hereinafter referred to as the “Agreement”.

 

SECTION 2.Amendments
to Credit Agreement. Subject to the conditions precedent set forth in Section 3 hereof, Section 3.02(c)
of the Credit Agreement is hereby amended by deleting and replacing all references to “$33,000,000” with “$23,500,000”.

 

SECTION 3.Conditions of Effectiveness.
The obligations of Administrative Agent and the Lenders to amend the Credit Agreement as provided herein are subject to the fulfillment
of the following conditions precedent:

 

(a)Borrower and
Guarantors shall have delivered to Administrative Agent multiple duly executed counterparts of this Amendment;

 

(b)no Material Adverse Change
shall have occurred; and

 

(c)no Default or Event of
Default shall have occurred.

 

SECTION 4.Representations
and Warranties. Each of Borrower and Guarantor represents and warrants to Administrative Agent and the Lenders, with full
knowledge that the Lenders are relying on the following representations and warranties in executing this Amendment, as follows:

 

(a)It has the organizational
power and authority to execute, deliver and perform this Amendment and all other Loan Documents executed and delivered herewith,
and all organizational action on the part of it, requisite for the due execution, delivery and performance of this Amendment and
all other Loan Documents executed and delivered herewith, has been duly and effectively taken.

 

    	 

    	 

    

 

(a)The Credit Agreement,
as amended by this Amendment, and the Loan Documents and each and every other document executed and delivered in connection with
this Amendment to which it is a party constitute the legal, valid and binding obligations of it, to the extent it is a party thereto,
enforceable against such Person in accordance with their respective terms.

 

(b)This Amendment
does not and will not violate any provisions of any of the Organizational Documents of it or any contract, agreement, instrument
or requirement of any Governmental Authority to which it is subject. Its execution of this Amendment will not result in the creation
or imposition of any lien upon any of its properties other than those permitted by the Agreement and this Amendment.

 

(c)Execution, delivery
and performance of this Amendment does not require the consent or approval of any other Person, including, without limitation,
any regulatory authority or governmental body of the United States of America or any state thereof or any political subdivision
of the United States of America or any state thereof.

 

(e)As of the date
of this Amendment, each of Borrower and the Guarantors is solvent.

 

(f)After giving
effect to this Amendment no Default or Event of Default will exist, and all of the representations and warranties contained in
the Agreement and all instruments and documents executed pursuant thereto or contemplated thereby are true and correct in all material
respects on and as of this date other than those which have been disclosed to Administrative Agent in writing (except to the extent
such representations and warranties expressly refer to an earlier or other date, in which case they shall be true and correct as
of such earlier or other date).

 

(g)Except to the extent expressly
set forth herein as the contrary, nothing in this Section 4 is intended to amend any of the representations or warranties
contained in the Agreement or of the Loan Documents to which Borrower or any Guarantor is a party.

 

SECTION 5.Cost, Expenses
and Taxes. Borrower agrees to pay all reasonable legal fees and expenses to be incurred in connection with the preparation,
reproduction, execution and delivery of this Amendment and the other instruments and documents to be delivered in connection with
the transactions associated herewith, including reasonable attorneys’ fees and out-of-pocket expenses of Administrative Agent
and the Lenders, and agrees to save Administrative Agent and each Lender harmless from and against any and all liabilities with
respect to or resulting from any delay in paying or omission to pay such fees.

 

SECTION 6.Extent
of Amendment. Upon the effectiveness hereof, on and after the date hereof, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of like
import, shall mean and be a reference to the Credit Agreement as amended hereby. Borrower hereby ratifies and confirms that:

 

(a)except as expressly
amended hereby, all of the terms, conditions, covenants, representations, warranties and all other provisions of the Agreement
remain in full force and effect and each of the Loan Documents to which it is a party are and remain legal, valid and binding obligations
of Borrower, enforceable in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of
whether considered in a proceeding in equity or at law;

 

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(b)the Collateral
is unimpaired by this Amendment and any and all Liens and other security or Collateral now or hereafter held by Administrative
Agent or the Lenders as security for payment and performance of the obligations are hereby renewed and carried forth to secure
payment and performance of all of the Obligations; and

 

(c)nothing in this Amendment implies
any obligation on the part of Administrative Agent or the Lenders, and neither Administrative Agent nor the Lenders shall be obligated,
at any time, to grant further amendments.

 

SECTION 7.Claims.
As additional consideration to the execution, delivery, and performance of this Amendment by the parties hereto and to induce Administrative
Agent and the Lenders to enter into this Amendment, Borrower represents and warrants that it does not know of any defenses, counterclaims
or rights of setoff to the payment of any Obligations of Borrower to Administrative Agent or the Lenders.

 

SECTION 8.Waiver
and Release. In consideration of the amendment herein and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower hereby waives, remises, releases,
and forever discharges each Lender, and Administrative Agent, their predecessors and its successors, assigns, affiliates, shareholders,
directors, officers, accountants, attorneys, employees, agents, representatives, and servants (collectively, the “Released
Parties”) of, from and against any and all claims, actions, causes of action, suits, proceedings, contracts, judgments,
damages, accounts, reckonings, executions, and liabilities whatsoever of every name and nature, whether known or unknown, whether
or not well founded in fact or in law, and whether in law, at equity, or otherwise, which the undersigned ever had or now has for
or by reason of any matter, cause, or anything whatsoever to this date relating to or arising out of the Loans, or any of them,
or any of the loan Documents, including without limitation any actual or alleged act or omission of any of the Released Parties
with respect to the Loans, or any of them, or any of the loan Documents, or any Liens or Collateral in connection therewith, or
the enforcement of any of such Lender’s or Administrative Agent’s rights or remedies thereunder. The terms of this
waiver and release shall survive the termination of this Amendment, the Loans, or the loan Documents and shall remain in full force
and effect after the termination thereof.

 

SECTION 9.Execution and
Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall
constitute but one and the same instrument. Delivery of an executed counterpart of this Amendment by facsimile or other electronic
transmission (such as Portable Document Format) shall be equally as effective as delivery of a manually executed counterpart of
this Amendment.

 

SECTION 10.Governing
Law; Service; Jurisdiction; Venue; Waiver of Jury Trial. This Amendment
and the rights and obligations of the parties hereunder shall be deemed a contract under, and shall be governed by, and construed
and enforced in accordance with, the INTERNAL laws (AND NOT THE LAW OF CONFLICTS) of the State of New York. Sections 9.14
(Submission to Jurisdiction; Waiver of Venue) and 9.17 (Wavier of Jury Trial) are hereby incorporated
herein by reference, mutatis mutandis, as a part hereof for all purposes.

 

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SECTION 11.Headings.
Section headings in this Amendment are included herein for convenience and reference only and shall not constitute a part of this
Amendment for any other purpose.

 

SECTION 12.NO
ORAL AGREEMENTS. The rights and obligations of each of the parties to this
Amendment and the Loan Documents shall be determined solely from written agreements, documents, and instruments, and any prior
oral agreements between such parties are superseded by and merged into such writings. The Agreement (as amended in writing from
time to time) and the other written Loan Documents executed by Borrower, Guarantors, Pledgors, Administrative Agent and the Lenders
(together with all fee letters as they relate to the payment of fees after the Closing Date) represent the final agreement between
such parties, and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements by such parties.
There are no unwritten oral agreements between such parties.

 

SECTION 13.No
Waiver. Borrower agrees that no Event of Default and no Default has been waived or remedied by the execution of this Amendment
by Administrative Agent and the Lenders, and any such Default or Event or Default heretofore arising and currently continuing shall
continue after the execution and delivery hereof. Nothing contained in this Amendment nor any past indulgence by Administrative
Agent or the Lenders, nor any other action or inaction on behalf of Administrative Agent or the Lenders (i) shall constitute or
be deemed to constitute a waiver of any Defaults or Events of Default which may exist under the Agreement or the other Loan Documents,
or (ii) shall constitute or be deemed to constitute an election of remedies by Administrative Agent or the Lenders or a waiver
of any of the rights or remedies of Administrative Agent or the Lenders provided in the Agreement or the other Loan Documents or
otherwise afforded at law or in equity.

 

[Signature Pages Follow]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized.

 

 

ADMINISTRATIVE AGENT:

 

MORGAN STANLEY CAPITAL GROUP INC.,

as Administrative Agent

 

	By:	/s/ Nancy King	 
	 	Nancy King 	 
	 	Vice President 	 

 

 

 

LENDER:

 

MORGAN STANLEY CAPITAL GROUP INC.,

 

	By:	/s/ Nancy King	 
	 	Nancy King 	 
	 	Vice President 	 

 

 

 

Signature Page to First Amendment to
Credit Agreement 

Foreland Resources, LLC

 

    	 

    	 

    

 

BORROWER:

 

AMERICAN EAGLE ENERGY CORPORATION,

as Borrower

 

	By:	/s/ Bradley M. Colby	 
	 	Bradley M. Colby	 
	 	President and Chief Executive Officer	 

 

 

 

Signature Page to First Amendment to
Credit Agreement 

Foreland Resources, LLC

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the undersigned, as a Guarantor, hereby (i) acknowledges Borrower’s execution and delivery of this Amendment and (ii) affirms
that the execution and delivery of this Amendment has no effect on such Guarantor’s agreements and obligations under the
Loan Documents to which it is party, which remain the legal, valid and binding obligation of such Guarantor enforceable against
such Guarantor in accordance with their terms.

 

GUARANTOR:

 

AMZG, INC.,

a Nevada corporation

 

	By:	/s/ Bradley M. Colby	 
	 	Bradley M. Colby	 
	 	President 	 

 

 

AEE Canada Inc.,

an Alberta, Canada corporation

 

	By:	/s/ Bradley M. Colby	 
	 	Bradley M. Colby	 
	 	President 	 

 

 

EERG Energy ULC,

a Alberta, Canada unlimited liability company

  

	By:	/s/ Bradley M. Colby	 
	 	Bradley M. Colby	 
	 	President 	 

 

 

 

Signature Page to First Amendment to
Credit Agreement 

Foreland Resources, LLC

 

    	 

    	 

    

 

Exhibit A

 

Conformed version of the Credit Agreement

 

(see attached)

 

 

 

Exhibit A to First Amendment to Credit
Agreement

Foreland Resources, LLC

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