Document:

EXHIBIT 10.1

 

 

EIGHTH AMENDMENT

 

TO

 

SENIOR REVOLVING CREDIT AGREEMENT

 

DATED AS OF SEPTEMBER 30, 2014

 

AMONG

 

HALCÓN RESOURCES CORPORATION,
  AS BORROWER,

 

THE GUARANTORS,

 

JPMORGAN CHASE BANK, N.A.,
  AS ADMINISTRATIVE AGENT,

 

AND

 

THE LENDERS PARTY HERETO

 

 

J. P. MORGAN SECURITIES LLC,

AS SOLE LEAD ARRANGER

 

J. P. MORGAN SECURITIES LLC AND WELLS FARGO SECURITIES, LLC,

AS JOINT BOOKRUNNERS

 

 

EIGHTH AMENDMENT
 TO SENIOR REVOLVING CREDIT AGREEMENT

 

THIS EIGHTH AMENDMENT TO SENIOR REVOLVING CREDIT AGREEMENT (this “Eighth Amendment”) dated as of September 30, 2014 is among HALCÓN RESOURCES CORPORATION, a corporation duly formed and existing under the laws of the State of Delaware (the “Borrower”), each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Obligors”), each of the Lenders party to the Credit Agreement, BNP Paribas (the “New Lender”) and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”).

 

R E C I T A L S

 

A.                                    Reference is made to that certain Senior Revolving Credit Agreement dated as of February 8, 2012 (as amended, modified or otherwise supplemented prior to the date hereof, the “Credit Agreement”; as amended by this Eighth Amendment, and as may be further amended, modified or supplemented the “Amended Credit Agreement”) among the Borrower, each of the Lenders party thereto (hereinafter referred to as the “Existing Lenders”) and the Administrative Agent, pursuant to which the Lenders have made certain credit and other financial accommodations available to and on behalf of the Borrower and its Subsidiaries.

 

B.                                    The Borrower has requested and the Administrative Agent and each of the Lenders have agreed to amend certain provisions of the Credit Agreement.

 

C.                                    The Existing Lenders have agreed among themselves to reallocate the Commitments, Aggregate Maximum Credit Amount, Applicable Percentages and Revolving Credit Exposures and to, among other things, allow the New Lender, in consultation with the Borrower, to become party to the Amended Credit Agreement as a Lender by acquiring an interest in the Commitments, Aggregate Maximum Credit Amount, Applicable Percentages and Revolving Credit Exposures.

 

D.                                    NOW, THEREFORE, to induce the Administrative Agent and each of the Lenders to enter into this Eighth Amendment and in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Section 1.                                           Defined Terms.  Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Amended Credit Agreement.  Unless otherwise indicated, all section references in this Eighth Amendment refer to sections of the Amended Credit Agreement.

 

Section 2.                                                                   Assignment and Reallocation.

 

2.1                               Assignment and Reallocation among the Lenders.  The assignments by the Existing Lenders necessary to effect the reallocation of the Commitments, Aggregate Maximum Credit Amount, Applicable Percentages and Revolving Credit Exposures and the assumptions by the New Lender necessary for such New Lender to acquire such interests are hereby consummated

 

1

 

pursuant to the terms and provisions of this Agreement and Section 12.04(b), and the Borrower, the Administrative Agent and each Lender, including the New Lender, hereby consummates such assignment and assumption pursuant to the terms, provisions and representations of the Assignment and Assumption attached as Exhibit F to the Credit Agreement as if each of them had executed and delivered an Assignment and Assumption (with the Effective Date (as defined therein) being the Effective Date set forth below); provided that (i) the Administrative Agent hereby waives the $3,500 processing and recordation fee set forth in Section 12.04(b)(ii)(C) with respect to such assignments and assumptions, and (ii) if the New Lender is a Foreign Lender it shall have delivered to the Borrower (with a copy to the Administrative Agent) the documentation required pursuant to Section 5.03(e).  On the Eighth Amendment Effective Date (as defined below) and after giving effect to such assignments and assumptions, the Applicable Percentage and Maximum Credit Amount of each Lender shall be as set forth in Annex I attached hereto.  The Existing Lenders and New Lender hereby agree that all payments (to the extent arising among such parties) necessary to effect the reallocations referred to in this Section 2.1 have been paid on or before the date hereof, including but not limited to such payments arising in relation to existing Loans and other outstanding obligations under the Credit Agreement, as applicable.

 

2.2                               Consent.  Each of the Administrative Agent and the Borrower hereby consents to (a) the reallocation of the Commitments, Aggregate Maximum Credit Amount, Applicable Percentages and Revolving Credit Exposures and (b) the New Lender’s acquisition of an interest in the Commitments, Aggregate Maximum Credit Amount, Applicable Percentages and Revolving Credit Exposures.  Each Lender, including the New Lender, hereby consents and agrees to the Applicable Percentages and Maximum Credit Amounts as set forth in Annex I attached hereto.  With respect to the foregoing assignments and assumptions, in the event of any conflict between this Agreement and Section 12.04(b), the parties hereto agree that the terms of this Eighth Amendment shall control.

 

2.3                               Borrowing Base Redetermination.  The parties hereto agree that, upon execution and delivery of this Eighth Amendment, the redetermination of the Borrowing Base in the amount of $1.05 billion (the “New Borrowing Base”) will be deemed to have been approved by each of the Lenders, as applicable, pursuant to Section 2.07(c)(iii) of the Amended Credit Agreement.  Solely with respect to the New Borrowing Base, all other conditions to the redetermination of the Borrowing Base pursuant to the terms of the Amended Credit Agreement are deemed satisfied or waived, as applicable, including but not limited to the requirement for a New Borrowing Base Notice under Section 2.07(d). The New Borrowing Base is deemed effective as of the date hereof.

 

Section 3.                                           Amendment to Credit Agreement.  Annex I of the Credit Agreement is hereby amended in its entirety to read as Annex I attached hereto.

 

Section 4.                                           Conditions Precedent.  This Eighth Amendment shall become effective on the date when each of the following conditions is satisfied (or waived in accordance with Section 12.02 of the Credit Agreement) (such date, the “Eighth Amendment Effective Date”):

 

4.1                               Eighth Amendment.  The Administrative Agent shall have received a counterpart of this Eighth Amendment signed by the Borrower, the Guarantors, each of the Existing Lenders and the New Lender.

 

2

 

4.2                               Fees.  The Administrative Agent, the Arranger and the Lenders shall have received all fees and other amounts due and payable on or prior to the Eighth Amendment Effective Date, including, to the extent invoice, reimbursement or payment in full of all out of pocket expenses required to be reimbursed or paid by the Borrower under the Amended Credit Agreement.

 

4.3                               No Default; No Material Adverse Effect.  At the time of and immediately after giving effect to this Eighth Amendment, (a) no Default or Event of Default shall have occurred and be continuing and (b) no event or events shall have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.

 

The Administrative Agent is hereby authorized and directed to declare this Eighth Amendment to be effective when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 4 or the waiver of such conditions as permitted in Section 12.02 of the Credit Agreement.  Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes.

 

Section 5.                                           Miscellaneous.

 

5.1                               Confirmation.  The provisions of the Amended Credit Agreement shall remain in full force and effect following the effectiveness of this Eighth Amendment.

 

5.2                               Ratification and Affirmation; Representations and Warranties.  Each Obligor hereby (a) acknowledges the terms of this Eighth Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, and (c) represents and warrants to the Lenders that on and as of the date hereof, and immediately after giving effect to the terms of this Eighth Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except those which have a materiality qualifier, which shall be true and correct as so qualified), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date; (ii) no Default or Event of Default has occurred and is continuing and (iii) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.

 

5.3                               Loan Document.  This Eighth Amendment is a Loan Document.

 

5.4                               New Lender Agreement and Representations.

 

(a)                                 The New Lender agrees to be bound by the provisions of the Amended Credit Agreement, and agrees that it shall, on the date hereof, become a Lender for all purposes of the Amended Credit Agreement to the same extent as if originally a party thereto.

 

(b)                                 The New Lender (a) represents and warrants that it is legally authorized to enter into the Amended Credit Agreement; (b) confirms that it has received a copy of the Amended Credit Agreement, together with copies of such other documents and information as it has deemed

 

3

 

appropriate to make its own credit analysis and decision to enter into the Amended Credit Agreement; (c) agrees that it has made and will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Amended Credit Agreement or any instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Amended Credit Agreement or any instrument or document furnished pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof, together with such powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the Amended Credit Agreement and will perform in accordance with its terms all the obligations which by the terms of the Amended Credit Agreement are required to be performed by it as a Lender.

 

5.5                               Counterparts.  This Eighth Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of this Eighth Amendment by facsimile or electronic transmission in portable document format (.pdf) shall be effective as delivery of a manually executed counterpart hereof.

 

5.6                               NO ORAL AGREEMENT.  THIS EIGHTH AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES.

 

5.7                               GOVERNING LAW.  THIS EIGHTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.

 

5.8                               Severability.  Any provision of this Eighth 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.

 

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

 

[This page intentionally left blank.  Signature pages follow.]

 

4

 

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

 

	
BORROWER:
    	
HALCÓN RESOURCES CORPORATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mark J. Mize
    
	
 
    	
 
    	
Name:   
    	
Mark   J. Mize 
    
	
 
    	
 
    	
Title:   
    	
Executive   Vice President, Chief Financial Officer and Treasurer
    
	
 
    	
 
    
	
GUARANTORS:
    	
HALCÓN   HOLDINGS, INC.
    
	
 
    	
HALCÓN   RESOURCES OPERATING, INC.
    
	
 
    	
HALCÓN   ENERGY PROPERTIES, INC.
    
	
 
    	
HALCÓN   ENERGY HOLDINGS, LLC
    
	
 
    	
HALCÓN   GULF STATES, LLC
    
	
 
    	
HALCÓN   OPERATING CO., INC.
    
	
 
    	
HRC   ENERGY RESOURCES (WV), INC.
    
	
 
    	
HRC   ENERGY LOUISIANA, LLC
    
	
 
    	
HRC   PRODUCTION COMPANY
    
	
 
    	
HALCÓN   FIELD SERVICES, LLC
    
	
 
    	
HALCÓN   LOUISIANA OPERATING, L.P.
    
	
 
    	
HRC   ENERGY, LLC
    
	
 
    	
HRC   OPERATING, LLC
    
	
 
    	
HK   ENERGY, LLC
    
	
 
    	
HK   ENERGY OPERATING, LLC
    
	
 
    	
HK   LOUISIANA OPERATING, LLC
    
	
 
    	
HK   OIL & GAS, LLC
    
	
 
    	
HALCÓN   WILLISTON I, LLC
    
	
 
    	
HALCÓN   WILLISTON II, LLC
    HK RESOURCES, LLC
    THE 7711 CORPORATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mark J. Mize
    
	
 
    	
 
    	
Name:   
    	
Mark   J. Mize 
    
	
 
    	
 
    	
Title:   
    	
Executive   Vice President, Chief Financial Officer and Treasurer, for and on behalf of   each of the foregoing Guarantors
    

 

SIGNATURE PAGE – EIGHTH AMENDMENT
 HALCÓN RESOURCES CORPORATION

 

 

	
ADMINISTRATIVE   AGENT
    	
JPMORGAN CHASE BANK, N.A.,
    
	
AND   LENDER:
    	
as   Administrative Agent and Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael A. Kamauf
    
	
 
    	
 
    	
Name:   Michael A. Kamauf
    
	
 
    	
 
    	
Title:   Authorized Officer
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
WELLS FARGO BANK, N.A.,
    
	
 
    	
as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Todd Fogh
    
	
 
    	
 
    	
Name:   Todd Fogh
    
	
 
    	
 
    	
Title:   Vice President
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
BMO HARRIS FINANCING, INC.,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James V. Ducote
    
	
 
    	
 
    	
Name:   James V. Ducote
    
	
 
    	
 
    	
Title:   Managing Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
BARCLAYS BANK PLC,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Vanessa Kurbatsky
    
	
 
    	
 
    	
Name:   Vanessa Kurbatsky
    
	
 
    	
 
    	
Title:   Vice President
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
SUNTRUST BANK,
    
	
 
    	
as Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Shannon Juhan
    
	
 
    	
 
    	
Name: Shannon Juhan
    
	
 
    	
 
    	
Title: Vice President
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
CAPITAL ONE, NATIONAL ASSOCIATION,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Victor Ponce De Leon
    
	
 
    	
 
    	
Name:   Victor Ponce De Leon
    
	
 
    	
 
    	
Title:   Vice President
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
GOLDMAN SACHS BANK USA,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ashwin Ramakrishna
    
	
 
    	
 
    	
Name:   Ashwin Ramakrishna
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
ROYAL BANK OF CANADA,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Evans Swann, Jr.
    
	
 
    	
 
    	
Name:   Evans Swann, Jr.
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
BANK OF AMERICA, N.A.,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Bryan Heller
    
	
 
    	
 
    	
Name:   Bryan Heller
    
	
 
    	
 
    	
Title:   Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
THE ROYAL BANK OF SCOTLAND PLC,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James L. Mayes
    
	
 
    	
 
    	
Name:   James L. Mayes
    
	
 
    	
 
    	
Title:   Managing Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
    as Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Christopher Day
    
	
 
    	
 
    	
Name:   Christopher Day
    
	
 
    	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Whitney Gaston
    
	
 
    	
 
    	
Name:   Whitney Gaston
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,
    as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mark A. Roche
    
	
 
    	
 
    	
Name:   Mark A. Roche
    
	
 
    	
 
    	
Title:   Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael D. Willis
    
	
 
    	
 
    	
Name:   Michael D. Willis
    
	
 
    	
 
    	
Title:   Managing Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
NATIXIS,
    as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Justin Bellamy
    
	
 
    	
 
    	
Name:   Justin Bellamy
    
	
 
    	
 
    	
Title:   Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Stuart Murray
    
	
 
    	
 
    	
Name:   Stuart Murray
    
	
 
    	
 
    	
Title:   Managing Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
ING CAPITAL LLC,
    as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Josh Strong
    
	
 
    	
 
    	
Name:   Josh Strong
    
	
 
    	
 
    	
Title:   Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Juli Bieser
    
	
 
    	
 
    	
Name:   Juli Bieser
    
	
 
    	
 
    	
Title:   Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
COMERICA BANK,
    as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   William Robinson
    
	
 
    	
 
    	
Name:   William Robinson
    
	
 
    	
 
    	
Title:   Vice President
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
DEUTSCHE   BANK AG NEW YORK BRANCH,
    as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Lisa Wong
    
	
 
    	
 
    	
Name:   Lisa Wong
    
	
 
    	
 
    	
Title:   Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Marcus M. Tarkington
    
	
 
    	
 
    	
Name:   Marcus M. Tarkington
    
	
 
    	
 
    	
Title:   Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
SUMITOMO MITSUI BANKING CORPORATION,
    as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   James D. Weinstein
    
	
 
    	
 
    	
Name:   James D. Weinstein
    
	
 
    	
 
    	
Title:   Managing Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
THE BANK OF NOVA SCOTIA,
    as Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Alan Dawson
    
	
 
    	
 
    	
Name:   Alan Dawson
    
	
 
    	
 
    	
Title:   Director
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
KEYBANK NATIONAL ASSOCIATION
    as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   John Dravenstott
    
	
 
    	
 
    	
Name:   John Dravenstott
    
	
 
    	
 
    	
Title:   Vice President
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

	
LENDER:
    	
BNP PARIBAS
    as New Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Sriram Chandrasekaran
    
	
 
    	
 
    	
Name:   Sriram Chandrasekaran
    
	
 
    	
 
    	
Title:   Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Julien Pecoud-Bouvet
    
	
 
    	
 
    	
Name:   Julien Pecoud-Bouvet
    
	
 
    	
 
    	
Title:   Vice-President
    

 

SIGNATURE PAGE — EIGHTH AMENDMENT

HALCÓN RESOURCES CORPORATION

 

 

ANNEX I

 

LIST OF MAXIMUM CREDIT AMOUNTS

 

	
Lender
    	
 
    	
Applicable
   Percentage
    	
 
    	
Maximum Credit
   Amount
    	
 
    
	
JPMorgan Chase Bank, N.A.
    	
 
    	
7.19
    	
%
    	
$
    	
107,777,777.77
    	
 
    
	
Wells Fargo Bank, N.A.
    	
 
    	
7.19
    	
%
    	
$
    	
107,777,777.77
    	
 
    
	
BMO Harris Financing, Inc.
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
Capital One, National Association
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
SunTrust Bank
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
Royal Bank of Canada
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
Credit Agricole Corporate and Investment Bank 
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
Natixis 
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
Bank of America, N.A.
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
ING Capital LLC
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
BNP Paribas
    	
 
    	
5.77
    	
%
    	
$
    	
86,601,307.19
    	
 
    
	
Barclays Bank PLC
    	
 
    	
4.83
    	
%
    	
$
    	
72,483,660.12
    	
 
    
	
Goldman Sachs Bank USA
    	
 
    	
4.83
    	
%
    	
$
    	
72,483,660.12
    	
 
    
	
Credit Suisse AG, Cayman Islands Branch
    	
 
    	
4.36
    	
%
    	
$
    	
65,424,836.61
    	
 
    
	
The Royal Bank of Scotland plc
    	
 
    	
3.92
    	
%
    	
$
    	
58,823,529.41
    	
 
    
	
Deutsche Bank Trust Company Americas
    	
 
    	
3.92
    	
%
    	
$
    	
58,823,529.41
    	
 
    
	
Comerica Bank
    	
 
    	
2.95
    	
%
    	
$
    	
44,248,366.02
    	
 
    
	
Sumitomo Mitsui Banking Corporation
    	
 
    	
2.95
    	
%
    	
$
    	
44,248,366.02
    	
 
    
	
The Bank of Nova Scotia
    	
 
    	
2.95
    	
%
    	
$
    	
44,248,366.02
    	
 
    
	
KeyBank National Association
    	
 
    	
2.95
    	
%
    	
$
    	
44,248,366.02
    	
 
    
	
TOTAL:
    	
 
    	
100.0
    	
%
    	
$
    	
1,500,000,000
    	
 
    

 

ANNEX IExhibit 10.1

 

STOCK PURCHASE AGREEMENT

 

This STOCK PURCHASE AGREEMENT
(this “Agreement”), dated as of October 1, 2014 (the “Effective Date”), is
entered into by and among China Green Agriculture, Inc., a Nevada corporation (the “Company”), and Tao
Li, an individual citizen of the People’s Republic of China and Chairman and Chief Executive Officer of the Company (the
“Purchaser”). The Company and the Purchaser shall collectively be referred to herein as the “Parties”,
or each individually as a “Party”.

 

W I T N E S S E T H

 

WHEREAS, the Company
has agreed to issue a total of 496,445 shares (the “Shares”) of the Company’s common stock, $0.001
par value per share (“Common Stock”), to the Purchaser at a purchase price of $2.25 per share, for an
aggregate purchase price of $1,117,000.00 (the “Purchase Price”); and

 

WHEREAS, the parties
desire to make certain representations, warranties and covenants with respect to the issuance and ownership of the Shares on the
terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration
of the mutual promises and undertakings contained herein, and for other consideration the receipt and sufficiency of which are
hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.                 
ISSUANCE OF SHARES.

 

1.1                   
The Purchaser hereby agrees to purchase the Shares from the Company, and the Company hereby agrees, subject to the Company’s
receipt of the Purchase Price in accordance with the terms hereof, to sell the Shares to the Purchaser.

 

1.2                   
The closing (the “Closing”) of the sale of the Shares shall occur at such time and place as
the Parties shall agree, subject to the fulfillment of the conditions set forth herein. Payment of the Purchase Price shall be
made at the Closing by wire transfer to the account as specified in writing by the Company prior to the Closing. At the Closing,
the Company shall deliver a stock certificate (or stock certificates, if the Purchaser elects so) registered in the name of the
Purchaser representing the Shares.

 

2.                 
REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser hereby represents and warrants to
the Company as follows:

 

2.1                   
Authorization. The Purchaser has full power and authority to enter into this Agreement. This Agreement, when
executed and delivered by the Purchaser, will constitute valid and legally binding obligations of the Purchaser, enforceable in
accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance,
and any other laws of general application affecting enforcement of creditors’ rights generally, and as limited by laws relating
to the availability of specific performance, injunctive relief, or other equitable remedies.

 

    	1

    	 

    

 

2.2                   
No Conflicts. The execution and delivery of this Agreement by the Purchaser does not, and the performance by
the Purchaser of its obligations hereunder will not: (i) conflict with, breach or violate, in any material respect, any material
federal, state, foreign or local law, statute, ordinance, rule, regulation, order, judgment or decree (“Law”)
in effect as of the date of this Agreement and applicable to the Purchaser; (ii) require the consent of any party to any agreement
or commitment to which the Purchaser is a party or by which the Purchaser is subject or bound; or (iii) require any consent, approval
or authorization of, or declaration, filing or registration with, any governmental or regulatory authority or any other person
or entity.

 

2.3                   
Purchase for Own Account for Investment. This Agreement is made with the Purchaser in reliance upon the Purchaser’s
representation to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that
the Shares to be acquired by the Purchaser will be acquired for investment for the Purchaser’s own account, not as a nominee
or agent, and not with a view to the resale or distribution of any part thereof, and that the Purchaser has no present intention
of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, the Purchaser further
represents that the Purchaser does not presently have any contract, undertaking, agreement or arrangement with any individual,
entity, organization or governmental authority (each a “Person”) to sell, transfer or grant participations
to such Person or to any third Person, with respect to any of the Shares.

 

2.4                   
Restricted Securities. The Purchaser understands that the Shares have not been, and will not be, registered under
the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from
the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment
intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser understands that the Shares
are “restricted securities” under applicable United States federal and state securities laws and that, pursuant to
these laws, the Purchaser must hold the Shares indefinitely unless they are registered with the Securities and Exchange
Commission and qualified by state authorities, or an exemption from such registration and qualification requirements is available.
The Company has no obligation to register or qualify the Shares for resale. The Purchaser further acknowledges that if an
exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited
to, the time and manner of sale, the holding period for the Shares, and on requirements relating to the Company which are outside
of the Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy.

 

2.5                   
Legends. The Purchaser understands that the Shares and any securities issued in respect of or in exchange for
the Shares, may bear the following legend required by the securities laws of any state to the extent such laws are applicable to
the Shares represented by the certificate so legended:

 

THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED,
HYPOTHECATED OR OTHERWISE DISPOSED OF IN ABSENCE OF (i) AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER SAID ACT
OR (ii) AN OPINION OF COMPANY COUNSEL THAT SUCH REGISTRATION IS NOTE REQUIRED.

 

    	2

    	 

    

 

 

2.6                   
Accredited Investor. The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)
of Regulation D promulgated under the Securities Act (i.e., (a) a natural person whose individual net worth, or joint net
worth with that person's spouse, at the time of his or her purchase exceeds $1,000,000, provided, that in determining Purchaser’s
net worth, (i) Purchaser’s primary residence is not included as an asset; (ii) any indebtedness that is secured by Purchaser’s
primary residence, up to the estimated fair market value of such primary residence as of the date hereof, is not included as a
liability (except that if the amount of such indebtedness as of the date hereof exceeds the amount outstanding 60 days before such
date, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability);
and (iii) any indebtedness that is secured by Purchaser’s primary residence in excess of the estimated fair market value
of such primary residence is included as a liability, (b) a natural person who had an individual income in excess of $200,000 in
each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those two years and
has a reasonable expectation of reaching the same income level in the current year, (c) a corporation, limited liability company
or partnership having total assets in excess of $5,000,000 that was not formed for the purpose of investing in the Company pursuant
to the Purchase Agreement, (d) any entity in which all of the equity owners are accredited investors, or (e) otherwise meets the
requirements for an “accredited investor” under Regulation D promulgated by the Securities and Exchange Commission
under the Securities Act).

 

2.7No Material
Nonpublic Information. As of the date of this Agreement and as of the date of the Closing (if different from the date of
this Agreement), the Purchaser is not in possession of or aware of any material nonpublic information as such term is referred
to under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and interpreted under
the Securities and Exchange Commission’s rules and regulations (other than the existence and terms of the issuance of Shares,
as contemplated by this Agreement).

 

2.8No Short
Swing Profits. During the six months prior to the date of this Agreement and the date of the Closing (if different from
the date of this Agreement), the Purchaser and/or any person(s) living in the same household of the Purchaser have not been engaged
in any sale of the Company’s shares of Common Stock and the Purchaser has been in compliance with Section 16(b) of the Exchange
Act.

 

 

3.                 
REPRESENTATIONS OF THE COMPANY. The Company hereby represents and warrants to the Purchaser as
follows:

 

3.1                   
Organization, Good Standing and Power. The Company is a corporation duly incorporated, validly existing and in
good standing under the laws of the State of Nevada. The Company has the requisite corporate power to own, lease and operate its
respective properties and assets and to conduct its respective business as it is now being conducted. The Company is duly qualified
and authorized to do business, and is in good standing as a foreign corporation, in each jurisdiction in which it owns or leases
property.

 

    	3

    	 

    

 

3.2                   
Authorization. The Company has full power and authority to enter into this Agreement. This Agreement, when executed
and delivered by the Company, will constitute valid and legally binding obligations of the Company, enforceable in accordance with
their terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and any
other laws of general application affecting enforcement of creditors’ rights generally, and as limited by laws relating to
the availability of specific performance, injunctive relief, or other equitable remedies.

 

3.3                   
No Conflicts. The execution and delivery of this Agreement by the Company does not, and the performance by the
Company of its obligations hereunder or thereunder will not: (i) conflict with or violate the Certificate of Incorporation or Bylaws
of the Company; (ii) conflict with, breach or violate, in any material respect, any Law in effect as of the date of this Agreement
and applicable to the Company; (iii) require the consent of any party to any agreement or commitment to which the Company is a
party or to or by which the Company, its assets or properties are subject or bound; or (iv) require any consent, approval or authorization
of, or declaration, filing or registration with, any governmental or regulatory authority or any other person or entity, except
(a) the filing, if any, pursuant to Regulation D, promulgated by the Securities Exchange Commission under the Securities Act of
1933, as amended, (b) the filings, if any, required by applicable state “blue sky” securities laws, rules and regulations,
or (c) such other post-closing filings as may be required and which shall be duly and validly filed.

 

 

4.                 
CONDITIONS TO CLOSING.

 

4.1                
The obligations of the Purchaser to purchase the Shares and otherwise to consummate the transactions contemplated by
this Agreement at the Closing are subject to the condition that (a) the representations and warranties of the Company contained
herein shall be true and correct in all respects as of the date of the Closing, and (b) the Company shall have fully complied with
all its agreements and covenants contained herein to be performed by the Company on or prior to the Closing.

 

4.2                
The obligations of the Company to sell and issue the Shares and otherwise to consummate the transactions contemplated
by this Agreement at the Closing are subject to the condition that (a) the representations and warranties of the Purchaser contained
herein shall be true and correct in all respects as of the date of the Closing, and (b) the Purchaser shall have fully complied
with all his agreements and covenants contained herein to be performed by the Purchaser on or prior to the Closing, including without
limitation payment of the Purchase Price.

 

5.                 
MISCELLANEOUS.

 

5.1                
Entire Agreement. This Agreement constitutes the entire agreement among the Parties with respect to the subject
matter hereof and supersedes all other prior agreements and understandings, both written and oral, among the Parties with respect
to the subject matter hereof.

 

    	4

    	 

    

 

5.2                
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be
an original, but all of which together shall constitute one and the same instrument.

 

5.3                
Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of New
York, without reference to its principles of conflicts of laws.

 

5.4                
Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of and be enforceable by
and against each of the parties hereto and their respective successors and assigns. This Agreement may not be assigned (i) by the
Purchaser without the prior written consent of the Company or (ii) by the Company without the written prior consent of the Purchasers.

 

5.5                
Amendment. This Agreement may be amended, modified or supplemented only by a written agreement signed by the
Company, on the one hand, and the Purchaser, on the other hand.

 

5.6                
Severability.  The invalidity of any portion hereof shall not affect the validity, force or effect of the remaining
portions hereof.

 

 

[signature page follows]

 

    	5

    	 

    

  

IN WITNESS WHEREOF,
the Parties have caused this Agreement to be signed and delivered by their duly authorized representatives.

 

 

	 	CHINA GREEN AGRICULTURE, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Ken Ren
	 	 	Ken Ren 
	 	 	Chief Financial Officer 
	 	 	 
	 	 	 
	 	/s/ Tao Li
	 	Tao Li

 

 

 

[Signature Page to Stock Purchase Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}]]