Document:

Exhibit

Exhibit 10.2

FORM OF
DEFERRED STOCK UNIT AWARD AGREEMENT 
PURSUANT TO THE
VEREIT, INC.
EQUITY PLAN
THIS AGREEMENT (the “Agreement”) is made as of ___________, by and between VEREIT, Inc., a Maryland corporation with its principal office at 2325 E. Camelback Road, Phoenix, Arizona 85016 (the “Company”), and ___________ (the “Participant”).  

WHEREAS, the Board of Directors of the Company (the “Board”) adopted the VEREIT, Inc. Equity Plan (approved by the Board on September 6, 2011) (as such plan may be amended from time to time, the “Plan”);

WHEREAS, the Plan provides that the Company, through the Compensation Committee of the Board, has the ability to grant awards of deferred stock units to directors, officers and employees of the Company, among certain others; 
WHEREAS, the Participant has voluntarily elected to participate in the Independent Director’s Deferred Director Compensation Program for ___________; and
WHEREAS, subject to the terms and conditions of this Agreement and the Plan, the Board has determined that the Participant, as a director of the Company, shall be awarded DSUs (defined below) in the amount set forth below.
NOW, THEREFORE, the Company and the Participant agree as follows:
1.     Award of DSUs.  Subject to the terms, conditions and restrictions of the Plan and this Agreement, the Company hereby awards to the Participant ___________ deferred stock units (the “DSUs”) on the date hereof (the “Grant Date”).  Subject to the terms of this Agreement, each DSU represents the right to receive one share of Common Stock of the Company, par value $0.01 (“Common Stock”).  The Participant shall have no rights as a stockholder of the Company with respect to the shares of Common Stock subject to the DSUs until such time as the shares of Common Stock have been issued and delivered to the Participant in accordance with Section 5 of this Agreement.  Any fractional amounts shall be rounded to the nearest whole share. 
2.     Vesting.  The DSUs are fully vested on the Grant Date.
3.     Dividend Equivalents.  Prior to the Settlement Date (as defined below), whenever dividends (other than dividends payable only in shares of Common Stock) are paid with respect to Common Stock, the Participant shall be credited with a cash credit equal to the dividend value per share of Common Stock multiplied by the number of DSUs set forth in Section 1 of this Agreement, as adjusted pursuant to the corporate reorganization provision of Section 5(b) of the Plan (the “Dividend Credit”).  On the last dividend payment date of a calendar year, an amount of DSUs 

Exhibit 10.2

shall then be granted to Participant equaling the Dividend Credit for such calendar year through the last dividend payment date of such calendar year divided by the average of the closing prices of the Common Stock on each dividend payment date for such calendar year (including the last dividend payment date). Any fractional amounts shall be rounded to the nearest whole share. 
4.     Settlement.  On the earlier of (a) the Participant’s Separation from Service (as defined in the Plan), (b) death, or (c) a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (a “Change of Control”) (the “Settlement Date”), the Company shall deliver to the Participant a number of shares of Common Stock equal to the number of DSUs granted pursuant to this Agreement, as adjusted pursuant to the corporate reorganization provisions of Section 5(b) of the Plan.  Notwithstanding the above, (i) upon a Separation of Service or death, any Dividend Credits contemplated by Section 3 hereof that have not been converted to DSUs as of the Settlement Date will be settled in Common Stock by dividing such Dividend Credits by the average of the closing prices of the Stock on the New York Stock Exchange on the respective dividend payments dates from that year in accordance with the formula set forth in Section 3 hereof, and (ii) upon a Change of Control, any Dividend Credits contemplated by Section 3 hereof that have not been converted to DSUs as of the Settlement Date shall become immediately payable in cash.
5.     Taxes.  If applicable, no later than on the Settlement Date, (a) the Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding payment of, the minimum statutory amount to satisfy any Federal, state or local income, employment, payroll or other taxes or obligations of any kind required by law to be withheld in respect of the DSUs vesting on the applicable Vesting Date and (b) if requested by the Participant by prior written instruction, the Company shall satisfy such liability by deducting from any settlement of shares of Common Stock and/or cash otherwise due to the Participant on the Settlement Date a number of shares of Common Stock and cash having an aggregate value equal to the minimum statutory amount of such taxes or obligations required by law to be withheld in respect of the DSUs.
6.     No Obligation to Continue Service.  Neither the execution of this Agreement nor the issuance of the DSUs hereunder constitutes an agreement by the Company or any of its affiliates to continue the Participant’s service during the entire, or any portion of, the term of this Agreement, including but not limited to any period during which any DSUs are outstanding.
7.     Miscellaneous.
(a)   This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal legal representatives, successors, trustees, administrators, distributees, devisees and legatees.  The Company may assign to, and require, any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree in writing to perform this Agreement.  Notwithstanding the foregoing, the Participant may not assign this Agreement or any of the Participant’s rights, interests or obligations hereunder. 

Exhibit 10.2

(b)   This award of DSUs shall not affect in any way the right or power of the Board or stockholders of the Company to make or authorize an adjustment, recapitalization or other change in the capital structure or the business of the Company, any merger or consolidation of the Company or subsidiaries, any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the DSUs, the dissolution or liquidation of the Company, any sale or transfer of all or part of its assets or business or any other corporate act or proceeding.  The Board may make equitable adjustments to the DSUs pursuant to Section 5(b) of the Plan in the event that it determines that any corporate reorganization or similar event as described therein has affected the Common Stock. 
(c)   No modification or waiver of any of the provisions of this Agreement shall be effective unless in writing and signed by the party against whom it is sought to be enforced.
(d)   This Agreement may be executed in one or more counterparts, all of which taken together shall constitute one contract.
(e)   The failure of any party hereto at any time to require performance by another party of any provision of this Agreement shall not affect the right of such party to require performance of that provision, and any waiver by any party of any breach of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself, or a waiver of any right under this Agreement.
(f)   The headings of the sections of this Agreement have been inserted for convenience of reference only and shall in no way restrict or modify any of the terms or provisions hereof.
(g)   All notices, consents, requests, approvals, instructions and other communications provided for herein shall be in writing and validly given or made when delivered, or on the second succeeding business day after being mailed by registered or certified mail, whichever is earlier, to the persons entitled or required to receive the same, at the addresses set forth at the heading of this Agreement or to such other address as either party may designate by like notice. Notices to the Company shall be addressed to VEREIT, Inc. at 2325 E. Camelback Road, Phoenix, AZ 85016, Attn: Chief Financial Officer.
(h)   This Agreement shall be construed, interpreted and governed and the legal relationships of the parties determined in accordance with the internal laws of the State of Maryland without reference to rules relating to conflicts of law.
8.     Provisions of Plan Control.  This Agreement is subject to all the terms, conditions and provisions of the Plan, including, without limitation, the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan as may be adopted thereunder and as may be in effect from time to time.  The Plan is incorporated herein by reference.  A copy of the Plan has been delivered to the Participant.  If and to the extent that this Agreement conflicts or is inconsistent with the terms, conditions and provisions of the Plan, the Plan shall control, and this Agreement shall be deemed to be modified accordingly.  Unless otherwise indicated, any capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan.  This Agreement contains the entire understanding of the parties with respect to the subject matter hereof (other than any other documents expressly contemplated herein or in the Plan) and supersedes any prior agreements between 

Exhibit 10.2

the Company and the Participant.  Notwithstanding the foregoing, Section 8 (entitled “Excise Tax”) of the Plan shall not be applicable to the Participant with respect to the DSUs under this Agreement. 
9.     Consent to Electronic Delivery; Electronic Signature. In lieu of receiving documents in paper format, the Participant agrees, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, without limitation, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports, and all other forms of communications) in connection with this and any other award made or offered by the Company. Electronic delivery may be via an electronic mail system or by reference to a location on the Company’s intranet to which the Participant has access. The Participant consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature.   
[signature page(s) follow]

Exhibit 10.2

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

VEREIT, INC.

By:  __________________________________________
        Name:     
        Title:    

Participant

_______________________________Exhibit

Exhibit 10.1
FOURTH AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT

This Fourth Amendment to Amended and Restated Credit AgreemenT (this “Fourth Amendment”) is entered into as of May 3, 2017 (the “Fourth Amendment Effective Date”), by and among Denbury Resources Inc., a Delaware corporation (“Borrower”), JPMorgan Chase Bank, N.A., as Administrative Agent (“Administrative Agent”), and the financial institutions party hereto as Lenders (hereinafter collectively referred to as the “Executing Lenders”, and each individually, an “Executing Lender”).
W I T N E S S E T H
WHEREAS, Borrower, Administrative Agent, the other agents party thereto and Lenders are parties to that certain Amended and Restated Credit Agreement dated as of December 9, 2014 (as amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”; unless otherwise defined herein, all terms used herein with their initial letter capitalized shall have the meaning given such terms in the Credit Agreement, including, to the extent applicable, after giving effect to the amendments set forth in Section 1 of this Fourth Amendment);

WHEREAS, pursuant to the Credit Agreement, Lenders have extended credit in the form of Loans to Borrower and provided certain other credit accommodations to Borrower;

WHEREAS, Borrower has requested that Lenders amend certain provisions contained in the Credit Agreement as more specifically provided for herein; and
WHEREAS, subject to and upon the terms and conditions set forth herein, the Executing Lenders have agreed to enter into this Fourth Amendment to amend certain provisions of the Credit Agreement as more specifically provided for herein.

NOW THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, Borrower, Administrative Agent and the Executing Lenders hereby agree as follows:

Section 1.Amendments to Credit Agreement.  In reliance on the representations, warranties, covenants and agreements contained in this Fourth Amendment, and subject to the satisfaction or waiver of the conditions precedent set forth in Section 3 hereof, the Credit Agreement shall be amended effective as of the Fourth Amendment Effective Date in the manner provided in this Section 1.

1.1Additional Definitions.  Section 1.1 of the Credit Agreement shall be amended to add thereto in alphabetical order the following definitions, which shall read in full as follows:

“Consolidated Total Debt to Annualized Consolidated EBITDAX Ratio Test” shall mean, as of any date of determination during a non-Investment 

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Grade Period in connection with any of the transactions contemplated in the definition of “Permitted Acquisition”, the last sentence of the definition of “Unrestricted Subsidiary” and Sections 10.1(i)(i)(D), 10.1(j)(i)(B), 10.1(n), 10.1(aa)(iv), 10.3(a), 10.3(b), 10.5(g) or 10.6(i), the Consolidated Total Debt to Annualized Consolidated EBITDAX Ratio is less than or equal to (a) 6.00 to 1.00 as of the last day of the Test Period ending on March 31, 2018, (b) 5.50 to 1.00 as of the last day of the Test Period ending on June 30, 2018 and (c) 5.00 to 1.00 as of the last day of each Test Period ending on September 30, 2018 and December 31, 2018, in each case, after giving pro forma effect to any such transactions and any Borrowings made on the date thereof, as the case may be; provided, that, Borrower shall be deemed to be in compliance with this Consolidated Total Debt to Annualized Consolidated EBITDAX Ratio Test so long as the Consolidated Total Debt to Annualized Consolidated EBITDAX Ratio decreases after giving pro forma effect to such transactions or Borrowings compared to the Consolidated Total Debt to Annualized Consolidated EBITDAX Ratio immediately prior to giving effect to such transactions or Borrowings, regardless of whether the Consolidated Total Debt to Annualized Consolidated EBITDAX Ratio is actually less than or equal to the relevant ratio set forth in this definition at such time.
“Consolidated Total Debt to Consolidated EBITDAX Ratio Test (2017)” shall mean, as of any date of determination in connection with any of the transactions contemplated in Sections 10.1(i)(i)(D), 10.1(j)(i)(B), 10.1(n), 10.5(g) or 10.6(i), the Consolidated Total Debt to Consolidated EBITDAX Ratio is less than or equal to 6.00 to 1.00 as of the last day of each Test Period ending on March 31, 2017, June 30, 2017, September 30, 2017 and December 31, 2017, in each case, after giving pro forma effect to any such transactions and any Borrowings made on the date thereof, as the case may be; provided, that, Borrower shall be deemed to be in compliance with this Consolidated Total Debt to Consolidated EBITDAX Ratio Test (2017) so long as the Consolidated Total Debt to Consolidated EBITDAX Ratio decreases after giving pro forma effect to such transactions or Borrowings compared to the Consolidated Total Debt to Consolidated EBITDAX Ratio immediately prior to giving effect to such transactions or Borrowings, regardless of whether the Consolidated Total Debt to Consolidated EBITDAX Ratio is actually less than or equal to the relevant ratio set forth in this definition at such time.
“Consolidated Total Debt to Consolidated EBITDAX Ratio Test (2019)” shall mean, as of any date of determination in connection with any of the transactions contemplated in the definition of “Permitted Acquisition”, the last sentence of the definition of “Unrestricted Subsidiary” and Sections 10.1(i)(i)(D), 10.1(j)(i)(B), 10.1(n), 10.1(aa)(iv), 10.3(a), 10.3(b), 10.5(g) or 10.6(i), the Consolidated Total Debt to Consolidated EBITDAX Ratio is less than or equal to (a) 4.25 to 1.00 as of the last day of each Test Period ending during any Investment Grade Period, and as of the last day of each Test Period ending on or after March 31, 2019, in each case, after giving pro forma effect to any such transactions and any Borrowings made on the date thereof, as the case may be; provided, that, Borrower shall be deemed to be in compliance with this 

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Consolidated Total Debt to Consolidated EBITDAX Ratio Test (2019) so long as the Consolidated Total Debt to Consolidated EBITDAX Ratio decreases after giving pro forma effect to such transactions or Borrowings compared to the Consolidated Total Debt to Consolidated EBITDAX Ratio immediately prior to giving effect to such transactions or Borrowings, regardless of whether the Consolidated Total Debt to Consolidated EBITDAX Ratio is actually less than or equal to the relevant ratio set forth in this definition at such time.
“Fourth Amendment” shall mean that certain Fourth Amendment to Amended and Restated Credit Agreement dated as of May 3, 2017 among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto.
“Total Leverage Tests” shall mean the Consolidated Total Debt to Consolidated EBITDAX Ratio Test (2017), the Consolidated Total Debt to Consolidated EBITDAX Ratio Test (2019) and the Consolidated Total Debt to Annualized Consolidated EBITDAX Ratio Test.
1.2Restatement of Definitions. The definitions of “Applicable Margin”, “Credit Documents”, “Financial Performance Covenants”, “Joint Bookrunners” and “Joint Lead Arrangers” contained in Section 1.1 of the Credit Agreement shall be amended and restated to read in full as follows:

“Applicable Margin” shall mean, for any day, with respect to any ABR Loan or LIBOR Loan or Commitment Fee, as the case may be;
(a)    at any time other than during an Investment Grade Period, the rate per annum set forth in the grid below based upon the Borrowing Base Utilization Percentage in effect on such day:
	
						
	Borrowing Base Utilization Grid

	Borrowing Base Utilization Percentage
	X < 25%
	≥ 25% X <50%
	≥ 50% X <75%
	≥ 75% X <90%
	X ≥ 90%

	LIBOR Loans
	2.500%
	2.750%
	3.000%
	3.250%
	3.500%

	ABR Loans
	1.500%
	1.750%
	2.000%
	2.250%
	2.500%

	Commitment Fee Rate
	0.500%
	0.500%
	0.500%
	0.500%
	0.500%

and

(b)    at any time during an Investment Grade Period, the rate per annum set forth in the grid below based upon the higher of the Ratings assigned to the Borrower by Moody’s or S&P in effect on such day:

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	Ratings Grid

	Rating
	≥ Baa1/BBB+
	Baa2/BBB
	Baa3/BBB-
	≤Ba1/BB+

	LIBOR Loans
	1.125%
	1.250%
	1.500%
	1.750%

	ABR Loans
	0.125%
	0.250%
	0.500%
	0.750%

	Commitment Fee Rate
	0.150%
	0.200%
	0.250%
	0.300%

Each change in the Commitment Fee Rate or Applicable Margin shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change.
“Credit Documents” shall mean this Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Guarantee, the Security Documents, any Intercreditor Agreement and any promissory notes issued by the Borrower under this Agreement and any other agreements executed by Credit Parties in connection with this Agreement and expressly identified as “Credit Documents” therein.
“Financial Performance Covenants” shall mean the covenants of the Borrower set forth in Section 10.11; provided, that references in this Agreement to the Borrower being in compliance on a pro forma basis with the Financial Performance Covenants as of the date of a certain event, or words to similar effect, shall refer to (a) the ratios in the covenants set forth in Section 10.11, and (b) the ratios in the applicable Total Leverage Test solely with respect to such references in the definitions of “Permitted Acquisition” and “Unrestricted Subsidiary” and Sections 10.1(i)(i)(D), 10.1(j)(i)(B), 10.1(n), 10.1(aa)(iv), 10.3(a), 10.3(b), 10.5(g) and 10.6(i), in each case, that are to be complied with as of such date of occurrence or as of the last day of the Test Period (or 2018 Rolling Period, as applicable) next ending following such date.
“Joint Bookrunners” shall mean JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses may be transferred following the Closing Date) and Wells Fargo Securities, LLC, each in its capacity as joint bookrunner in respect of the Facility.
“Joint Lead Arrangers” shall mean JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses may be transferred following the Closing Date) and Wells Fargo Securities, LLC, each in its capacity as joint lead arranger in respect of the Facility.

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1.3Amendments to Section 10.1 of the Credit Agreement.  

(a)Section 10.1(g) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

“(g)    (i) Indebtedness (including Indebtedness arising under Capital Leases) incurred prior to or within 270 days after the acquisition, construction, lease, repair, replacement, expansion or improvement of fixed or capital assets to finance the acquisition, construction, lease, repair, replacement expansion, or improvement of such fixed or capital assets; (ii) Indebtedness arising under Capital Leases, other than (A) Capital Leases in effect on the Closing Date and (B) Capital Leases entered into pursuant to subclause (i) above (provided that, in the case of each of the foregoing subclauses (i) and (ii), the aggregate principal amount of Indebtedness outstanding at any time pursuant to this clause (g) shall not at the time of incurrence thereof and after giving pro forma effect thereto, exceed $200,000,000 (measured as of the date such Indebtedness is incurred based upon the financial statements most recently available prior to such date); and (iii) any Permitted Refinancing Indebtedness issued or incurred to Refinance any such Indebtedness;”
(b)Clause (iv) of Section 10.1(aa) of the Credit Agreement is hereby amended by deleting the phrase “set forth in Section 10.11” where it appears in clause (A) therein.

1.4Amendments to Section 10.11 of the Credit Agreement.  

(a)Section 10.11(a) of the Credit Agreement is hereby deleted in its entirety and replaced with “[Reserved]”.

(b)Section 10.11(b) of the Credit Agreement is hereby deleted in its entirety and replaced with “[Reserved]”. 

(c)Section 10.11(c) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

(c)    Consolidated Senior Secured Debt to Consolidated EBITDAX Ratio.  The Borrower will not permit its Consolidated Senior Secured Debt to Consolidated EBITDAX Ratio to be greater than (i) 3.00 to 1.00 as of the last day of each Test Period ending on March 31, 2017, June 30, 2017, September 30, 2017, December 31, 2017 and March 31, 2018 and (ii) 2.50 to 1.00 as of the last day of each Test Period ending on and after June 30, 2018; provided that, solely with respect to any such testing date that occurs during any Investment Grade Period, the Borrower will not be required to comply with this Section 10.11(c) for such date.
(d)Section 10.11(d) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

    

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(d)    Consolidated EBITDAX to Consolidated Interest Charges Ratio. The Borrower will not permit the Consolidated EBITDAX to Consolidated Interest Charges Ratio to be less than 1.25 to 1.00 as of the last day of each Test Period ending on and after March 31, 2017; provided that, solely with respect to any such testing date that occurs during any Investment Grade Period, the Borrower will not be required to comply with this Section 10.11(d) for such date.
Section 2.Borrowing Base Redetermination.  In reliance on the representations, warranties, covenants and agreements contained in this Fourth Amendment, the Administrative Agent and the Lenders hereby agree that the Borrowing Base of $1,050,000,000 is hereby reaffirmed as of the Fourth Amendment Effective Date.  The Borrowing Base shall remain at such level until the next Scheduled Redetermination, the next Interim Redetermination or other adjustment to the Borrowing Base thereafter, whichever occurs first pursuant to the Credit Agreement.  The redetermination of the Borrowing Base provided for in this Section 2 shall be deemed to be the Scheduled Redetermination scheduled for on or about May 1, 2017 for purposes of Section 2.14 of the Credit Agreement.

Section 3.Conditions Precedent to Amendment.  Subject to the satisfaction (or waiver) of the following conditions, the amendments to the Credit Agreement contained in Section 1 hereof shall each be effective on the Fourth Amendment Effective Date:

3.1Counterparts.  Administrative Agent shall have received counterparts hereof duly executed by an Authorized Officer of each of Borrower, the Guarantors and the Required Lenders.

3.2No Default; No Borrowing Base Deficiency.  No Default or Event of Default shall have occurred which is continuing, and no Borrowing Base Deficiency shall then exist, in each case, before and after giving effect to the amendments to the Credit Agreement contained in Section 1 hereof and the redetermination of the Borrowing Base contained in Section 2 hereof.

3.3Payment of Fees.  The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Fourth Amendment Effective Date.

3.4Other Documents.  Administrative Agent shall have been provided with such documents, instruments and agreements, and Borrower shall have taken such actions, in each case as Administrative Agent may reasonably require in connection with this Fourth Amendment and the transactions contemplated hereby.

Section 4.Representations and Warranties.  To induce Executing Lenders and Administrative Agent to enter into this Fourth Amendment, Borrower hereby represents and warrants to Lenders and Administrative Agent as follows as of the Fourth Amendment Effective Date:

4.1Reaffirm Existing Representations and Warranties.  Each representation and warranty of Borrower contained in the Credit Agreement and the other Credit Documents is true and correct in all material respects (unless such representations and warranties are already qualified by materiality, Material Adverse Effect or a similar qualification in which case such representations and warranties shall be true and correct in all respects) with the same effect as 

6

though each such representation and warranty had been made on and as of the Fourth Amendment Effective Date (except where any such representation and warranty expressly relates to an earlier date, in which case each such representation and warranty shall have been true and correct in all material respects as of such earlier date).

4.2Due Authorization.  The execution, delivery and performance by Borrower of this Fourth Amendment are within Borrower’s corporate or organizational powers, have been duly authorized by all necessary action, and require no action by or in respect of, or filing with, any governmental body, agency or official.

4.3Validity and Enforceability.  This Fourth Amendment constitutes the valid and binding obligation of Borrower enforceable in accordance with its terms, except as (a) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (b) the availability of equitable remedies may be limited by equitable principles of general application.

4.4No Defense.  Borrower acknowledges that Borrower has no defense to (a) Borrower’s obligation to pay the Obligations when due, or (b) the validity, enforceability or binding effect against Borrower of the Credit Agreement or any of the other Credit Documents or any Liens intended to be created thereby.

Section 5.Miscellaneous.

5.1No Waivers.  No failure or delay on the part of Administrative Agent or Lenders to exercise any right or remedy under the Credit Agreement, any other Credit Documents or applicable law shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy preclude any other or further exercise of any right or remedy, all of which are cumulative and may be exercised without notice except to the extent notice is expressly required (and has not been waived) under the Credit Agreement, the other Credit Documents and applicable law.

5.2Reaffirmation of Credit Documents. Any and all of the terms and provisions of the Credit Agreement and the other Credit Documents shall, except as amended and modified hereby, remain in full force and effect.  The amendments contemplated hereby or thereby shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified, affirmed and extended to secure the Obligations.

5.3Legal Expenses.  Borrower hereby agrees to pay on demand all reasonable fees and expenses of counsel to Administrative Agent incurred by Administrative Agent in connection with the preparation, negotiation and execution of this Fourth Amendment and all related documents.

5.4Parties in Interest.  All of the terms and provisions of this Fourth Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and assigns.

5.5Counterparts.  This Fourth Amendment may be executed in counterparts (including, without limitation, by electronic signature), and all parties need not execute the same 

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counterpart; however, no party shall be bound by this Fourth Amendment until Borrower, the Guarantors and Required Lenders have executed a counterpart.  Facsimiles and counterparts executed by electronic signature (e.g., .pdf) shall be effective as originals.

5.6Complete Agreement.  THIS FOURTH AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES.

5.7Headings.  The headings, captions and arrangements used in this Fourth Amendment are, unless specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the terms of this Fourth Amendment, nor affect the meaning thereof.

5.8Governing Law.  THIS FOURTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

5.9Severability.  Any provision of this Fourth Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

5.10Successors and Assigns.  This Fourth Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

[Signature pages follow.]

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IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to be duly executed by their respective authorized officers effective as of the Fourth Amendment Effective Date.
	
			
	 
	BORROWER:

	 
	 
	 

	 
	DENBURY RESOURCES INC.,

	 
	a Delaware corporation

	 
	 
	 

	 
	By:
	/s/ Mark C. Allen

	 
	Name:
	Mark C. Allen

	 
	Title:
	Senior Vice President and Chief Financial Officer

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

Each of the undersigned (i) consent and agree to this Fourth Amendment, and (ii) agree that the Credit Documents to which it is a party shall remain in full force and effect and shall continue to be the legal, valid and binding obligation of such Person, enforceable against it in accordance with its terms.
	
			
	 
	GUARANTORS:

	 
	 
	 

	 
	DENBURY GATHERING & MARKETING, INC.

	 
	DENBURY HOLDINGS, INC.

	 
	DENBURY OPERATING COMPANY

	 
	DENBURY ONSHORE, LLC

	 
	DENBURY PIPELINE HOLDINGS, LLC

	 
	DENBURY AIR, LLC

	 
	DENBURY GREEN PIPELINE-TEXAS, LLC

	 
	DENBURY GULF COAST PIPELINES, LLC

	 
	GREENCORE PIPELINE COMPANY LLC

	 
	DENBURY GREEN PIPELINE-MONTANA, LLC

	 
	DENBURY GREEN PIPELINE-RILEY RIDGE, LLC

	 
	DENBURY THOMPSON PIPELINE, LLC

	 
	ENCORE PARTNERS GP HOLDINGS, LLC

	 
	PLAIN ENERGY HOLDINGS, LLC

	 
	 
	 

	 
	By:
	/s/ Mark C. Allen

	 
	Name:
	Mark C. Allen

	 
	Title:
	Senior Vice President and Chief Financial Officer

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	ADMINISTRATIVE AGENT/LENDER:

	 
	 

	 
	JPMORGAN CHASE BANK, N.A.,

	 
	as Administrative Agent and a Lender

	 
	 
	 

	 
	By:
	/s/ Arina Mavilian

	 
	Name:
	Arina Mavilian

	 
	Title:
	Vice President

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	LENDERS:

	 
	 

	 
	BANK OF AMERICA, N.A.,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Ronald E. McKaig

	 
	Name:
	Ronald E. McKaig

	 
	Title:
	Managing Director

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CAPITAL ONE, NATIONAL ASSOCIATION,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Mark Brewster

	 
	Name:
	Mark Brewster

	 
	Title:
	Vice President

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CANADIAN IMPERIAL BANK OF COMMERCE, 
NEW YORK BRANCH,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Richard Antl

	 
	Name:
	Richard Antl

	 
	Title:
	Authorized Signatory

	 
	 
	 

	 
	By:
	/s/ Trudy Nelson

	 
	Name:
	Trudy Nelson

	 
	Title:
	Authorized Signatory

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	COMERICA BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Chad Stephenson

	 
	Name:
	Chad Stephenson

	 
	Title:
	Vice President

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Michael Willis

	 
	Name:
	Michael Willis

	 
	Title:
	Managing Director

	 
	 
	 

	 
	By:
	/s/ Sharada Manne

	 
	Name:
	Sharada Manne

	 
	Title:
	Managing Director

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CITIBANK, N.A.,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Brian S. Broyles

	 
	Name:
	Brian S. Broyles

	 
	Title:
	Attorney-In-Fact

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	ROYAL BANK OF CANADA,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Jay T. Sartain

	 
	Name:
	Jay T. Sartain

	 
	Title:
	Authorized Signatory

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	UBS AG, STAMFORD BRANCH,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Darlene Arias

	 
	Name:
	Darlene Arias

	 
	Title:
	Director

	 
	 
	 

	 
	By:
	/s/ Houssem Daly

	 
	Name:
	Houssem Daly

	 
	Title:
	Associate Director

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	ING CAPITAL LLC,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Charles E. Hall

	 
	Name:
	Charles E. Hall

	 
	Title:
	Managing Director

	 
	 
	 

	 
	By:
	/s/ Juli Bieser

	 
	Name:
	Juli Bieser

	 
	Title:
	Managing Director

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	SUNTRUST BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Janet R. Naifeh

	 
	Name:
	Janet R. Naifeh

	 
	Title:
	Senior Vice President

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	KEYBANK NATIONAL ASSOCIATION,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ John Dravenstott

	 
	Name:
	John Dravenstott

	 
	Title:
	Vice President

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	SUMITOMO MITSUI BANKING CORPORATION,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Mr. Hiroyuki Maeda

	 
	Name:
	Mr. Hiroyuki Maeda

	 
	Title:
	Managing Director

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	FIFTH THIRD BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Thomas Kleiderer

	 
	Name:
	Thomas Kleiderer

	 
	Title:
	Director

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	ABN AMRO CAPITAL USA LLC,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ David Montgomery

	 
	Name:
	David Montgomery

	 
	Title:
	Executive Director

	 
	 
	 

	 
	By:
	/s/ Darrell Holley

	 
	Name:
	Darrell Holley

	 
	Title:
	Managing Director

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	BOKF, NA DBA BANK OF TEXAS,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Mynan C. Feldman

	 
	Name:
	Mynan C. Feldman

	 
	Title:
	Senior Vice President

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	GOLDMAN SACHS BANK USA,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Ushma Dedhiya

	 
	Name:
	Ushma Dedhiya

	 
	Title:
	Authorized Signatory

Signature Page
Fourth Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}]]