Document:

ex_197183.htm

Exhibit 10.35

 

AMENDMENT NUMBER SEVEN TO SECOND

AMENDED AND RESTATED CREDIT AGREEMENT

 

This AMENDMENT NUMBER SEVEN TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of July 16, 2020, is entered into by and between JMP HOLDING LLC, formerly known as JMP Group LLC, a Delaware limited liability company (“Borrower”), the lenders from time to time party to the below-defined Credit Agreement (together with their respective successors and assigns, each a “Lender” and collectively, the “Lenders”) and CITY NATIONAL BANK, a national banking association (“CNB”), as the administrative agent for the Lenders, (in such capacity, together with its successors and assigns in such capacity, the “Agent”) , and in light of the following:

 

WITNESSETH

 

WHEREAS, Borrower, Agent and the Lenders are party to that certain Second Amended and Restated Credit Agreement, dated as of April 30, 2014 (as amended and in effect immediately prior to the effectiveness of this Amendment, the “Existing Credit Agreement”; the Existing Credit Agreement, as amended by this Amendment, is referred to herein as the “Credit Agreement”);

 

WHEREAS, Borrower has requested that Agent and the Lenders make certain amendments to the Existing Credit Agreement; and

 

WHEREAS, upon the terms and conditions set forth herein, Agent and the Lenders are willing to accommodate Borrower's requests.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.           DEFINITIONS. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement.

 

2.           AMENDMENTS TO EXISTING CREDIT AGREEMENT. On the terms and subject to the conditions of this Amendment:

 

(a)     The definition of “Permitted Liens” in Section 1.1 of the Credit Agreement is hereby amended by deleting “; and” and adding the following new clause (l) at the immediately end thereof:

 

“; and (l) Liens against the assets of JMP Securities securing obligations of JMP Securities in favor of National Financial Services LLC and its affiliates, in an aggregate amount not to exceed $250,000, and Mirae Asset Securities (USA) Inc. and its affiliates, in an aggregate amount not to exceed $1,000,000, in each case, pursuant to clearing agreements entered into in the ordinary course of business.”

 

(b)     Section 2.3(c) of the Credit Agreement is hereby amended by replacing the percentage “2.25” with the percentage “2.00”;

 

 

 

 

(c)     Section 2.9 of the Credit Agreement is hereby amended by adding the following provision at the immediate end of the first sentence thereof:

 

“; provided that, notwithstanding anything to the contrary set forth herein or in any Loan Document, the Borrower shall not terminate or reduce any Revolving Credit Facility Commitment prior to the Final Revolving Commitment Termination Date.”

 

(d)     The Credit Agreement is hereby amended to add the following new Section 5.8 at the immediate end of Article V:

 

“5.8. Specified Pledged CLO Securities. (a) At all times during the term of this Agreement, (i) the Borrower shall maintain CLO Securities of JMP Credit Advisors CLO III Ltd. with a fair market value as of June 30, 2020 of at least equal to $2,000,000, (ii) the Borrower shall maintain CLO Securities of JMP Credit Advisors CLO IV Ltd. with a fair market value as of June 30, 2020 of at least equal to $2,000,000 and (iii) JMP Investment Holdings LLC shall maintain CLO Securities of JMP Credit Advisors CLO V Ltd. with a fair market value as of June 30, 2020 of at least equal to $2,000,000 (such CLO Securities specified in the foregoing clauses (i), (ii) and (iii), the “Specified Pledged CLO Securities”), in each case, in a segregated securities account, which account shall indicate that it is and shall be pledged as collateral in favor of the Agent for the benefit of the Lender Group and the Bank Product Providers.

 

(b)     Notwithstanding anything to the contrary set forth herein or in any Loan Document, (i) no Specified Pledged CLO Securities shall be sold, assigned, transferred, conveyed, or otherwise disposed of or released as Collateral and (ii) no Borrower or any Affiliate thereof shall exercise any right to call any CLO Entity that has issued any Specified Pledged CLE Securities or cause the liquidation of any such CLO Entity, in each case, prior to the repayment in full of the Obligations (other than unasserted contingent liabilities). ”

 

 

3.           REPRESENTATIONS AND WARRANTIES. Borrower hereby represents and warrants to Agent and the Lenders as follows:

 

a.     Borrower has the requisite power and authority to execute and deliver this Amendment and the authority to perform its obligations hereunder and under the Loan Documents to which it is a party. The execution, delivery, and performance of this Amendment and the performance by Borrower of each Loan Document to which it is a party (i) have been duly approved by all necessary action and no other proceedings are necessary to consummate such transactions; and (ii) are not in contravention of (A) any law, rule, or regulation, or any order, judgment, decree, writ, injunction, or award of any arbitrator, court or governmental authority binding on it, (B) the terms of its organizational documents, or (C) any provision of any contract or undertaking to which it is a party or by which any of its properties may be bound or affected;

 

b.     This Amendment has been duly executed and delivered by Borrower. This Amendment will, upon its effectiveness in accordance with the terms hereof, and each Loan Document to which Borrower is a party is the legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, and is in full force and effect except as such validity and enforceability is limited by the laws of insolvency and bankruptcy, laws affecting creditors' rights and principles of equity applicable hereto;

 

 

 

 

c.     No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein has been issued and remains in force by any Governmental Authority against Borrower;

 

d.     Borrower does not have any actual or potential claim or cause of action against Agent or any Lender for any actions or events occurring on or before the date hereof, and Borrower hereby waives and releases any right to assert same;

 

e.     No Default or Event of Default has occurred and is continuing on the date hereof or as of the date of the effectiveness of this Amendment after giving effect to this Amendment; and

 

f.     The representations and warranties in the Credit Agreement and the other Loan Documents are true and correct in all material respects (except to the extent qualified by materiality, then such representations and warranties are true and correct in all respects) on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date).

 

4.           CONDITIONS PRECEDENT TO THIS AMENDMENT. The satisfaction of each of the following shall constitute conditions precedent to the effectiveness of this Amendment and each and every provision hereof:

 

a.     Agent shall have received this Amendment, duly executed by Borrower, and the same shall be in full force and effect;

 

b.     Agent shall have received a reaffirmation and consent (the “Reaffirmation and Consent”) substantially in the form attached hereto as Exhibit A, duly executed and delivered by each Person that is listed on the signature pages thereof;

 

c.     The representations and warranties in the Credit Agreement and the other Loan Documents shall be true and correct in all respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date) after giving effect to this Amendment;

 

d.     No Default or Event of Default shall have occurred and be continuing as of the date of the effectiveness of this Amendment after giving effect to this Amendment; and

 

e.     No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been issued and remain in force by any Governmental Authority against Borrower.

 

5.          AGREEMENTS. This Amendment has been entered into without force or duress, of the free will of Borrower, and the decision of Borrower to enter into this Amendment is a fully informed decision and Borrower is aware of all legal and other ramifications of each decision. It has read and understands this Amendment, has consulted with and been represented by independent legal counsel of its own choosing in negotiations for and the preparation of this Amendment, has read this Amendment in full and final form, and has been advised by its counsel of its rights and obligations hereunder and thereunder.

 

 

 

 

6.          PAYMENT OF COSTS AND FEES. Borrower shall reimburse Agent on demand for all of its actual out-of-pocket costs, expenses, fees and charges in connection with the preparation, negotiation, execution and delivery of this Amendment and any documents and instruments relating hereto (which costs may include the reasonable fees and expenses of any attorneys retained by Agent).

 

7.        CONSTRUCTION. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF CALIFORNIA APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF CALIFORNIA.

 

8.         ENTIRE AMENDMENT. This Amendment, and terms and provisions hereof, the Credit Agreement and the other Loan Documents constitute the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and supersedes any and all prior or contemporaneous amendments or understandings with respect to the subject matter hereof, whether express or implied, oral or written.

 

9.          COUNTERPARTS; ELECTRONIC EXECUTION. This Amendment may be executed in any number of counterparts, all of which when taken together shall constitute one and the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of this Amendment by telefacsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by telefacsimile or electronic mail also shall deliver an original executed counterpart of this Amendment, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.

 

10.          EFFECT ON LOAN DOCUMENTS.

 

a.     The Existing Credit Agreement, as amended hereby, and each of the other Loan Documents shall be and remain in full force and effect in accordance with their respective terms and hereby are ratified and confirmed in all respects. Except for the amendments to the Credit Agreement expressly set forth herein, the Credit Agreement and other Loan Documents shall remain unchanged and in full force and effect. The execution, delivery and performance of this Amendment shall not operate, except as expressly set forth herein, as a modification or waiver of any right, power, or remedy of Agent or any Lender under the Credit Agreement or any other Loan Document. The amendments set forth herein are limited to the specifics hereof, and, except as expressly set forth herein, shall neither excuse any future non-compliance with the Credit Agreement, nor operate as a waiver of any Unmatured Event of Default or Event of Default.

 

b.     Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof' or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof' or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified and amended hereby.

 

 

 

 

c.     To the extent any terms or provisions of this Amendment conflict with those of the Credit Agreement or other Loan Documents, the terms and provisions of this Amendment shall control. To the extent that any terms and conditions in any of the Loan Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified or amended hereby.

 

d.     This Amendment is a Loan Document.

 

e.     Unless the context of this Amendment clearly requires otherwise, references to the plural include the singular, references to the singular include the plural, the terms “includes” and “including” are not limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or”.

 

11.        REAFFIRMATION OF OBLIGATIONS. Borrower hereby restates, ratifies and reaffirms each and every term and condition set forth in the Credit Agreement and the other Loan Documents to which it is a party effective as of the date hereof and as amended hereby. Borrower hereby further ratifies and reaffirms the validity and enforceability of all of the liens and security interests in the Collateral heretofore granted, pursuant to and in connection with any Loan Document to Agent as collateral security for the obligations under the Loan Documents in accordance with their respective terms, and acknowledges that all of such liens and security interests, and all Collateral heretofore pledged as security for such obligations, continues to be and remain collateral for such obligations from and after the date hereof, in each case except as otherwise expressly provided in the Loan Documents.

 

12.        SEVERABILITY. In case any provision in this Amendment shall be invalid, illegal or unenforceable, such provision shall be severable from the remainder of this Amendment and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

[Signature pages follow.]

 

 

 

 

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

 

	
			BORROWER:

				
			JMP HOLDING LLC, formerly known as

				 
	 	JMP Group LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	
			/s/ Raymond Jackson

				 
	 	Name:	
			Raymond Jackson

				 
	 	Title:	
			Chief Financial Officer

				 

 

 

 

 

[SIGNATURE PAGE TO AMENDMENT NUMBER SEVEN TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

 

	
			AGENT AND LENDER:

				
			CITY NATIONAL BANK,

				 
	 	a national banking association,	 
	 	as Agent and as a Lender	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Eric Lo	 
	 	Name:	Eric Lo	 
	 	Title:	Senior Vice President	 

 

 

 

 

[SIGNATURE PAGE TO AMENDMENT NUMBER SEVEN TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

 

EXHIBIT A

REAFFIRMATION AND CONSENT

 

All capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to them in (a) that certain Second Amended and Restated Credit Agreement entered into between JMP HOLDING LLC, formerly known as JMP Group LLC, a Delaware limited liability company (“Borrower”), the lenders from time to time party to the below-defined Credit Agreement (together with their respective successors and assigns, each a “Lender” and collectively, the “Lenders”), and CITY NATIONAL BANK, a national banking association (“CNB”), as the administrative agent for the Lenders, (in such capacity, together with its successors and assigns in such capacity, the “Agent”), dated as of April 30, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), (b) that certain Amendment Number One to Second Amended and Restated Credit Agreement, dated as of April 25, 2016, by and among Borrower, Agent and the Lenders, (c) that certain Amendment Number Two to Second Amended and Restated Credit Agreement, dated as of August 24, 2016, by and among Borrower, Agent and the Lenders, (d) that certain Amendment Number Three to Second Amended and Restated Credit Agreement, dated as of May 12, 2017, by and among Borrower, Agent and the Lenders, (e) that certain Amendment Number Four to Second Amended and Restated Credit Agreement, dated as of August 6, 2018, by and among Borrower, Agent and Lenders, (f) that certain Amendment Number Five to Second Amended and Restated Credit Agreement, dated as of July 1, 2019, by and among Borrower, Agent and Lenders, (g) that certain Amendment Number Six to Second Amended and Restated Credit Agreement, dated as of September 5, 2019, by and among Borrower, Agent and Lenders and (h) that certain Amendment Number Seven to Second Amended and Restated Credit Agreement, dated as of July 16, 2020 (the “Amendment”) by and among Borrower, Agent and Lenders. The undersigned hereby (a) represents and warrants to Agent and the Lenders that the execution, delivery, and performance of this Reaffirmation and Consent are within its powers, have been duly authorized by all necessary action, and are not in contravention of any law, rule, or regulation, or any order, judgment, decree, writ, injunction, or award of any arbitrator, court, or governmental authority, or of the terms of its charter or bylaws, or of any contract or undertaking to which it is a party or by which any of its properties may be bound or affected; (b) consents to the transactions contemplated by the Amendment and by each amendment to any Loan Document executed on or before the date hereof; (c) acknowledges and reaffirms its obligations owing to Agent and the Lenders under any Loan Documents to which it is a party; and (d) agrees that each of the Loan Documents to which it is a party is and shall remain in full force and effect. Although each of the undersigned has been informed of the matters set forth herein and has acknowledged and agreed to same, each understands that Agent and the Lenders have no obligation to inform it of such matters in the future or to seek its acknowledgment or agreement to future amendments, and nothing herein shall create such a duty. Delivery of an executed counterpart of this Reaffirmation and Consent by telefacsimile or electronic mail shall be equally as effective as delivery of an original executed counterpart of this Reaffirmation and Consent. Any party delivering an executed counterpart of this Reaffirmation and Consent by telefacsimile or electronic mail also shall deliver an original executed counterpart of this Reaffirmation and Consent but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Reaffirmation and Consent. This Reaffirmation and Consent shall be governed by the laws of the State of California.

 

[Signature pages follow.]

 

Exhibit A

 

 

 

IN WITNESS WHEREOF, the undersigned have each caused this Reaffirmation and Consent to be executed as of the date of the Amendment.

 

	 	HARVEST CAPITAL STRATEGIES LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	JMP ASSET MANAGEMENT INC.,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	JMP INVESTMENT HOLDINGS LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	JMP ASSET MANAGEMENT LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	JMP CAPITAL LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 

 

 

Exhibit A

 

 

 

	 	JMP CAPITAL I MANAGING MEMBER LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	HARVEST CAPITAL STRATEGIES HOLDINGS LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	JMP REALTY I LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	JMP REALTY II LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	JMP GROUP INC.,	 
	 	a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Jackson	 
	 	 	Name: Raymond Jackson	 
	 	 	Title: Chief Financial Officer	 

 

 

[SIGNATURE PAGE TO REAFFIRMATION AND CONSENT]EX-4.3

 Exhibit 4.3 

NATIONAL FUEL GAS COMPANY 

OFFICER’S CERTIFICATE 

Establishing Notes 
 Karen M. Camiolo, the
Treasurer of National Fuel Gas Company, a New Jersey corporation (the “Company”), pursuant to the authority granted in the Board Resolutions of the Company adopted on
                    , 20    , and Sections 102, 201 and 301 of the Indenture defined herein, does hereby certify to The Bank of
New York Mellon (formerly known as The Bank of New York), as Trustee (the “Trustee”) under the Indenture of the Company (For Unsecured Debt Securities) dated as of October 1, 1999 (the “Indenture”), that: 

 

	1.	 The Securities of the             series to be
issued under the Indenture shall be designated “        % Notes due             ” (the “Notes of the
            Series”); the Notes of the             Series shall be in substantially the form set forth in Exhibit A hereto.
All capitalized terms used in this certificate which are not defined herein shall have the meanings set forth in the Indenture. 

  

	2.	 The Notes of the             Series shall be
initially authenticated and delivered in the aggregate principal amount of $         (the “Initial Notes of the             Series”);
provided, however, that the Company may, without consent of the Holders of the Initial Notes of the             Series, create and issue additional Notes of the
            Series ranking equally with, and otherwise identical in all respects to, the Initial Notes of the             Series
(except for the date from which interest first accrues thereon and the first interest payment date therefor), which additional Notes of the             Series shall form a single series
with the Initial Notes of the             Series. 

  

	3.	 The Notes of the             Series shall mature,
and the principal thereof shall be due and payable, together with all accrued and unpaid interest thereon, on                     ,
20    . 

  

	4.	 The Notes of the             Series shall be issued
in the denominations of $         and integral multiples of $         in excess thereof. 

 

	5.	 The Notes of the             Series shall bear
interest as provided in the form thereof set forth in Exhibit A. 

  

	6.	 The principal of and premium if any, and interest on the Notes of the
            Series shall be payable at, and registration of transfers and exchanges in respect of the Notes of the
            Series may be effected at, the office or agency of the Company in The City of New York; provided, however, that payment of interest may be made at the option of the Company by
check mailed to the address of the persons entitled thereto [or, in certain circumstances described in the form of Notes of the             Series hereto attached as Exhibit A, by wire
transfer to an account designated by the person entitled thereto]. Notices and demands to or upon the Company in respect of the Notes of the             Series and the Indenture may be
served at the office or agency of the Company in The City of New York. The Corporate Trust Office of the Trustee shall initially be the agency of the Company for such payment, registration and registration of transfers and exchanges and service of
notices and demands and the Company hereby appoints the Trustee as its agent for all such purposes; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such office or agency and such
agent. The Trustee shall initially be the Security Registrar and the Paying Agent for the Notes of the             Series. 

 

	7.	 [Redemption provisions, if any, will be inserted here]. 

 

	8.	 [Extension of interest payment provisions, if any, will be inserted here]. 

 

	9.	 [Change of control provisions, if any, will be inserted here]. 

 

	10.	 The Notes of the             Series shall be issued
initially in global form registered in the name of Cede & Co. (as nominee for The Depository Trust Company, New York, New York). 

	11.	 Beneficial interests in the Notes of the
            Series issued as Global Notes may not be exchanged in whole or in part for individual certificated Notes of the
            Series in definitive form, and no transfer of a Global Note of the             Series in whole or in part may be
registered in the name of any Person other than the Depository or its nominee, except that if (A) the Depository has notified the Company that it is unwilling or unable to continue as Depository for the Global Notes of the
            Series, (B) the Depository has ceased to be a clearing agency registered under the Exchange Act and, in either case, a successor depository for such Global Notes of the
            Series has not been appointed within 90 days of (i) that notice or (ii) the Company becoming aware that the Depository is no longer registered, (C) an Event of
Default occurred and is continuing, and the Depository requests the issuance of certificated Notes of the             Series in definitive form or (D) the Company determines not to
have the Notes of the             Series represented by Global Notes, the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of the
definitive Notes of the             Series, shall authenticate and deliver, Notes of the             Series in definitive
certificated form in an aggregate principal amount equal to the principal amount of the Global Notes of the             Series representing such Notes of the
            Series in exchange for such Global Notes of the             Series, such definitive Notes of the
            Series to be registered in the names provided by the Depository. 

  

	12.	 No service charge shall be made for the registration of transfer or exchange of the Notes of the
            Series; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with the
exchange or transfer. 

  

	13.	 The Trustee, the Security Registrar and the Company shall have no responsibility under the Indenture for
transfers of beneficial interests in the Notes of the             Series, for any depository records of beneficial interests or for any transactions between the Depository and beneficial
owners. 

  

	14.	 If the Company shall make any deposit of money and/or Eligible Obligations with respect to any Notes of the
            Series, or any portion of the principal amount thereof, as contemplated by Section 701 of the Indenture, the Company shall not deliver an Officer’s Certificate
described in clause (z) in the first paragraph of said Section 701 unless the Company shall also deliver to the Trustee, together with such Officer’s Certificate, either: 

 

	 	(A)	 an instrument wherein the Company, notwithstanding the satisfaction and discharge of its indebtedness in
respect of the Notes of the             Series, shall assume the obligation (which shall be absolute and unconditional) to irrevocably deposit with the Trustee or Paying Agent such
additional sums of money, if any, or additional Eligible Obligations (meeting the requirements of Section 701), if any, or any combination thereof, at such time or times, as shall be necessary, together with the money and/or Eligible
Obligations theretofore so deposited, to pay when due the principal of and premium, if any, and interest, if any, due and to become due on such Notes of the             Series or portions
thereof, all in accordance with and subject to the provisions of said Section 701; provided, however, that such instrument may state that the obligation of the Company to make additional deposits as aforesaid shall be subject to the delivery to
the Company by the Trustee of a notice asserting the deficiency accompanied by an opinion of an independent public accountant of nationally recognized standing, selected by the Company and acceptable to the Trustee, showing the calculation thereof;
or 

  

	 	(B)	 an Opinion of Counsel to the effect that, as a result of (i) the receipt by the Company from, or the
publication by, the Internal Revenue Service of a ruling or (ii) a change in law occurring after the date of this certificate, the Holders of such Notes of the             Series, or
portions of the principal amount thereof, will not recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and will be subject
to United States federal income tax on the same amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effected. 

 

	15.	 The Notes of the             Series shall have such
other terms and provisions as are provided in the form thereof set forth in Exhibit A hereto. 

  

	16.	 All conditions precedent, if any, provided for in the Indenture (including any covenants compliance with which
constitutes a condition precedent), relating to the authentication and delivery of the Notes of the             Series requested in the accompanying Company Order
No.         have been complied with. 

  
 -2- 

	17.	 The undersigned has read all of the covenants and conditions contained in the Indenture, and the definitions in
the Indenture relating thereto, relating to the Company’s issuance of the Notes of the             Series and the Trustee’s authentication and delivery of the Notes of the
            Series, and in respect of compliance with which this certificate is made. 

  

	18.	 The statements contained in this certificate are based upon the familiarity of the undersigned with the
Indenture, the documents accompanying this certificate, and upon discussions by the undersigned with officers, employees and counsel of the Company familiar with the matters set forth herein. 

 

	19.	 In the opinion of the undersigned, he has made such examination or investigation as is necessary to enable him
to express an informed opinion as to whether or not such covenants and conditions have been complied with. 

  

	20.	 In the opinion of the undersigned, such conditions and covenants have been complied with.

 IN WITNESS WHEREOF, I have executed this Officer’s Certificate this         day of
            , 20    . 
  

	
	  

	Karen M. Camiolo
	Treasurer

  
 -3- 

 EXHIBIT A 

[depositary legend] 
 [Unless this
Certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is
registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of
DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.] 

[FORM OF FACE OF NOTE] 

NATIONAL FUEL GAS COMPANY 

% NOTES DUE 
  

			
	NO.             	 	CUSIP NO.:         
		
	ORIGINAL ISSUE DATE:             	 	PRINCIPAL AMOUNT:         
		
	ORIGINAL INTEREST ACCRUAL DATE:             	 	INTEREST RATE:         
		
	MATURITY DATE:             	 	
		
	INTEREST PAYMENT DATES:             	 	
		
	REDEEMABLE AT OPTION OF THE COMPANY:             	 	YES      NO
		
	REDEEMABLE AT OPTION OF THE HOLDER:             	 	YES      NO

 (See the Reverse of this Note for redemption provisions) 

NATIONAL FUEL GAS COMPANY, a corporation duly organized and existing under the laws of the State of New Jersey (herein referred to as the “Company”,
which term includes any successor Person under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to             or registered assigns, the
principal sum of             on the Maturity Date specified above, and to pay interest thereon at the Interest Rate specified above, [semi-annually] [quarterly] on the Interest Payment
Dates specified above of each year and on the Maturity Date, from the Original Interest Accrual Date specified above or from the most recent Interest Payment Date to which interest has been paid, unless the Company shall default in the payment of
interest due on such Interest Payment Date, in which case interest shall be payable from the next preceding Interest Payment Date to which interest has been paid, or, if no interest has been paid on this Security, from the Original Interest Accrual
Date. In the event that the Maturity Date [or any date fixed for redemption] is not a Business Day, then payment of principal and interest payable on such date shall be made on the next succeeding day which is a Business Day (and without any
interest or other payment in respect of such delay) with the same force and effect as if made on such Maturity Date [or date fixed for redemption]. In the event that any Interest Payment Date is not a Business Day, then payment of interest payable
on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on such Interest Payment Date. The Initial Interest Payment
Date shall be                     , 20    , and the payment on that date shall include all interest accrued from the Original
Interest Accrual Date. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular 

  
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Record Date for such interest, which shall be (a) the Business Day immediately preceding such Interest Payment Date so long as Securities of this series remain in book-entry only form or
(b) the             calendar day prior to such Interest Payment Date if Securities of this series do not remain in book-entry only form; provided, however, that interest payable at
Maturity shall be paid to the Person to whom principal shall be paid. [Subject to extension of interest payment provisions,] [A]ny such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice of which shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Payment of the principal of and premium, if any, and interest on this Security shall be made at the office or agency of the Company maintained for that
purpose in The City of New York, the State of New York in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that [(a)] at the option of the
Company, interest on this Security may be paid by check mailed to the address of the person entitled thereto, as such address shall appear on the Security Register or by wire transfer to an account designated by the person entitled thereto[, and
(b) upon the written request of a Holder of not less than $         million in aggregate principal amount of Securities of this series delivered to the Company and the Paying Agent at least ten days prior
to any Interest Payment Date, payment of interest on such Securities to such Holder on such Interest Payment Date shall be made by wire transfer of immediately available funds to an account maintained within the continental United States specified
by such Holder or, if such Holder maintains an account with the entity acting as Paying Agent, by deposit into such account]. 
 Reference is hereby made to
the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall
not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument
to be duly executed. 
  

			
	NATIONAL FUEL GAS COMPANY
		
	By:	 	
                     
               

  
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 [FORM OF CERTIFICATE OF AUTHENTICATION] 

CERTIFICATE OF AUTHENTICATION 
 This is one
of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
 Dated: 

 

			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	
                     
                   

	Authorized Signatory

  
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 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or
more series under an Indenture (For Unsecured Debt Securities), dated as of October 1, 1999 (herein, together with any amendments or supplements thereto, called the “Indenture”, which term shall have the meaning assigned to it in such
instrument), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture, including the Board
Resolutions and Officer’s Certificate filed with the Trustee on                     , 20     creating the series designated
on the face hereof, for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof. The acceptance of this Security shall be deemed to constitute the consent and agreement by the Holder hereof to all terms and provisions of the Indenture.

 [Redemption provisions, if any, will be inserted] 
 [Change
of control provisions, if any, will be inserted] 
 The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Company
in respect of this Security, or any portion of the principal amount thereof, upon compliance with certain conditions set forth in the Indenture, including the Officer’s Certificate described above. 

If an Event of Default with respect to Securities shall occur and be continuing, the principal of the Securities may be declared due and payable in the manner
and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in
principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by
the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless (a) such Holder shall have previously given the Trustee written notice
of a continuing Event of Default with respect to the Securities of this series, (b) the Holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding in respect of which an Event of Default shall
have occurred and be continuing shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee, (c) such Holder shall have offered the Trustee reasonable indemnity,
(d) the Trustee shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity, and (e) the Trustee shall not have received from the Holders of a majority in aggregate principal
amount of Securities of all series at the time Outstanding in respect of which an Event of Default shall have occurred and be continuing a direction inconsistent with such request. The foregoing shall not apply to any suit instituted by the Holder
of this Security for the enforcement of any payment of principal hereof and premium, if any, or [,subject to the extension of interest payment provisions,] interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and premium, if any, and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

  
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 [Extension of interest payment provisions, if any, will be inserted here]. 

The Securities are issuable only in registered form without coupons in denominations of $         and integral
multiples of $         in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities are transferable to a transferee or transferees, as designated by the
Holder surrendering the same for such registration of transfer, and exchangeable for a like aggregate principal amount of Securities and of like tenor and of authorized denominations, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith. 
 The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this Security is registered as the absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 -8-

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