Document:

Exhibit 10.1

 

CONSENT UNDER AND SIXTH AMENDMENT TO SECOND AMENDED AND 
 RESTATED SENIOR SECURED CREDIT FACILITY

 

THIS CONSENT UNDER AND SIXTH AMENDMENT TO SECOND AMENDED AND RESTATED SENIOR SECURED CREDIT FACILITY (this “Agreement”) is dated as of January 29, 2016, among TRANSMONTAIGNE OPERATING COMPANY L.P. (the “Borrower”), each of the Lenders (as defined below) party hereto, and WELLS FARGO BANK, NATIONAL ASSOCIATION, in its capacity as administrative agent for the Lenders (the “Agent”).

 

W  I  T  N  E  S  S  E  T  H :

 

WHEREAS, the Borrower, certain banks and other lenders party thereto (the “Lenders”), and the Agent executed and delivered that certain Second Amended and Restated Senior Secured Credit Facility dated as of March 9, 2011, as amended by that certain letter agreement dated as of January 5, 2012, as amended by that certain Second Amendment to Second Amended and Restated Senior Secured Credit Facility dated as of March 20, 2012, as amended by that certain Third Amendment to Second Amended and Restated Senior Secured Credit Facility dated as of November 16, 2012, as amended by that certain Fourth Amendment to Second Amended and Restated Senior Secured Credit Facility dated as of June 30, 2014, and as amended by that certain Fifth Amendment to Second Amended and Restated Senior Credit Facility dated as of February 26, 2015 (as further amended, restated, modified, or supplemented from time to time, the “Credit Agreement”);

 

WHEREAS, pursuant to the terms of that certain Purchase Agreement dated as of January 7, 2016 (the “GP Purchase Agreement”), NGL intends to sell 100% of the Capital Stock it owns in the General Partner on or about January 29, 2016 (the “GP Sale”), to Gulf TLP Holdings, LLC, a subsidiary ArcLight Capital Partners Fund VI, L.P.;

 

WHEREAS, the Borrower has requested that and, subject to the terms and conditions hereof, the Agent and the Lenders party hereto have agreed to (a) consent to the GP Sale and (b) make certain amendments to the Credit Agreement, each as more fully described below.

 

NOW, THEREFORE, for and in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, each of the parties hereto hereby covenant and agree as follows:

 

1.                                      Definitions.  Unless otherwise specifically defined herein, each term used herein which is defined in the Credit Agreement shall have the meaning assigned to such term in the Credit Agreement.

 

2.                                      Amendments to Credit Agreement.  Subject to the satisfaction of the conditions precedent set forth in Section 4 below, the Credit Agreement is amended as follows:

 

 

(a)                                 The definition of “Change of Control” set forth in Section 1.1 of the Credit Agreement is amended so that it reads, in its entirety, as follows:

 

“Change of Control” means the occurrence of any of the following:

 

(a)                                 (i)  the acquisition after the Sixth Amendment Effective Date of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof) (other than ArcLight or any of its wholly-owned subsidiaries (other than Partners or any Subsidiary of Partners)) of Capital Stock representing more than thirty-five percent (35%) of the aggregate ordinary voting power represented by the issued and outstanding Capital Stock of the General Partner; or (ii) at any time when 100% of the Capital Stock of the General Partner is not owned by a sole member, the occupation of a majority of the seats (other than vacant seats) on the board of directors (or comparable governing body) of the General Partner by Persons who were neither (1) nominated by the board of directors (or comparable governing body) of the General Partner nor (2) appointed by directors (or comparable Persons) so nominated;

 

(b)                                 General Partner shall cease to own all of the general partner interests in Partners;

 

(c)                                  Partners shall cease to Control the Borrower or the Operating GP, or own at least 75% of the limited partner interests in the Borrower and 75% of the Capital Stock of Operating GP; or

 

(d)                                 Operating GP shall cease to own all of the general partner interests in the Borrower.

 

(b)                                 Each of the following definitions is hereby added to Section 1.1 of the Credit Agreement in appropriate alphabetical order:

 

“ArcLight” means ArcLight Capital Partners Fund VI, L.P., a Delaware limited partnership.

 

“Sixth Amendment” means that certain Consent under and Sixth Amendment to Second Amended and Restated Senior Secured Credit Facility dated as of the Sixth Amendment Effective Date by and among the Credit Parties party thereto, the Lenders party thereto and the Agent.

 

“Sixth Amendment Effective Date” means January 29, 2016.

 

(c)                                  The proviso at the end of clause (c) of Section 9.16 of the Credit Agreement is amended so that it reads, in its entirety, as follows:

 

, provided that this clause (c) shall not apply to assignments to ArcLight or any of its wholly-owned subsidiaries in connection with the GP Sale (as defined in the Sixth Amendment) so long as, in the case of an assignment to a wholly-owned subsidiary, such wholly-owned subsidiary continues to be a subsidiary of ArcLight unless, upon the failure to be a subsidiary of ArcLight, the new direct or indirect parent of such subsidiary has a corporate credit rating (as designated by Moody’s, S&P, and Fitch Ratings) equal to or higher than that of ArcLight at such time,

 

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3.                                      Consent to GP Sale.  Subject to the satisfaction of the conditions precedent set forth in Section 4 below, effective automatically and without further notice or action from or to any Person on the date on which the GP Sale is consummated, the Agent and each of the Lenders party hereto consent to the GP Sale so long as (a) the GP Sale is consummated pursuant to terms of the GP Purchase Agreement without any amendment, modification, or waiver thereof which would be materially adverse to the Lenders unless otherwise consented to by the Agent, (b) the GP Sale is consummated on or before February 28, 2016, and (c) no Event of Default shall exist immediately before or immediately after giving effect to the GP Sale.  Nothing herein shall constitute any amendment to or waiver of any provisions of the Credit Agreement (other than Section 11.1(g) (to the extent necessary to effect the GP Sale)).

 

4.                                      Conditions Precedent. This Agreement shall become effective only upon satisfaction or waiver by the Agent, in its reasonable discretion, of each of the following conditions precedent:

 

(a)                                 Executed Credit Documents.  Receipt by the Agent of duly executed counterparts of this Agreement by the Borrower and the Required Lenders.

 

(b)                                 No Default.  No Default or Event of Default is then continuing.

 

(c)                                  Payment of Fees.  The Borrower shall have paid to the Agent, for the account of (i) each Lender that submits an executed signature page to this Agreement to the Agent (or its counsel) at or prior to 12:00 p.m., New York City time, on January 28, 2016, a consent fee (the “Consent Fees”) in an amount equal to 0.05% of the aggregate principal amount of the Revolving Credit Commitment of such Lender as of such date; provided that the Borrower shall have no obligation to pay any such Consent Fees if this Agreement does not become effective in accordance with this Section 4 and (ii) the applicable parties, all fees and expenses (including legal fees and expenses) due and payable under the Credit Agreement and in connection with this Agreement, including without limitation, the fees described in the engagement letter dated as of January 27, 2016.

 

5.                                      Effect of Agreement.  Except as set forth expressly hereinabove, all terms of the Credit Agreement and the other Credit Documents shall be and remain in full force and effect, and shall constitute the legal, valid, binding, and enforceable obligations of the Borrower and the other Credit Parties party thereto.

 

6.                                      No Novation or Mutual Departure.  Each Credit Party expressly acknowledges and agrees that (i) there has not been, and this Agreement does not constitute or establish, a novation with respect to the Credit Agreement or any of the Credit Documents, or a mutual departure from the strict terms, provisions, and conditions thereof other than with respect to the limited amendments and consent in Sections 2 and 3 above and (ii) nothing in this Agreement shall affect or limit the Agent’s or any Lender’s right to demand payment of liabilities owing from the Borrower or any other Credit Party to the Agent and the Lenders under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Credit Documents, to exercise any and all rights, powers and remedies under the Credit Agreement or the other Credit Documents or at law or in equity, or to do any and all of the

 

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foregoing, immediately at any time after the occurrence of a Default or an Event of Default under the Credit Agreement or the other Credit Documents.

 

7.                                      Ratification and Restatement.  Each Credit Party hereby (i) restates, ratifies, and reaffirms each and every term, covenant, and condition set forth in the Credit Agreement and the other Credit Documents to which it is a party, as of the date hereof, after giving effect hereto and (ii) restates and renews each and every representation and warranty heretofore made by it in the Credit Agreement and the other Credit Documents as fully as if made on the date hereof and with specific reference to this Agreement and any other Credit Documents executed or delivered in connection herewith (except with respect to representations and warranties made as of an expressed date, in which case such representations and warranties shall be true and correct as of such date).

 

8.                                      No Default.  To induce the Agent and the Lenders to enter into this Agreement and to continue to make advances pursuant to the Credit Agreement (subject to the terms and conditions thereof), each Credit Party hereby acknowledges and agrees that, as of the date hereof, and, in each case, after giving effect to the terms hereof, there exists (i) no Default or Event of Default and (ii) no right of offset, defense, counterclaim, claim, or objection in favor of any Credit Party arising out of or with respect to any of the Loans or other obligations of any Credit Party owed to the Lenders under the Credit Agreement or any Credit Document.

 

9.                                      Release.  In consideration of the amendments and agreements contained herein, each Credit Party hereby waives and releases each of the Lenders, the Agent and the Issuing Bank from any and all claims and defenses, known or unknown as of the date hereof, with respect to the Credit Agreement and the other Credit Documents and the transactions contemplated thereby.

 

10.                               Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts and transmitted by facsimile to the other parties, each of which when so executed and delivered by facsimile shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same instrument.  This Agreement may be executed by each party on separate copies, which copies, when combined so as to include the signatures of all parties, shall constitute a single counterpart of this Agreement.

 

11.                               Fax or Other Transmission.  Delivery by one or more parties hereto of an executed counterpart of this Agreement via facsimile, telecopy, or other electronic method of transmission pursuant to which the signature of such party can be seen (including, without limitation, Adobe Corporation’s Portable Document Format) shall have the same force and effect as the delivery of an original executed counterpart of this Agreement.  Any party delivering an executed counterpart of this Agreement by facsimile or other electronic method of transmission shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability or binding effect of this Agreement.

 

12.                               Section References.  Section titles and references used in this Agreement shall be without substantive meaning or content of any kind whatsoever and are not a part of the agreements among the parties hereto evidenced hereby.

 

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13.                               Recitals Incorporated Herein.  The preamble and the recitals to this Agreement are hereby incorporated herein by this reference

 

14.                               Further Assurances.  Each Credit Party agrees to take such further actions as the Agent shall reasonably request in connection herewith to evidence the agreements herein contained.

 

15.                               Severability.  Any provision of this Agreement which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability of such provision in any other jurisdiction.

 

16.                               Governing Law.  This Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of New York.

 

17.                               Acknowledgment of Guarantors.  Each of the Guarantors party hereto hereby (i) consents to the execution and delivery of this Agreement by the parties thereto and (ii) reaffirms all of its obligations and covenants under the Guaranty Agreement and other Credit Documents to which it is a party, in each case, executed by it, or later joined by it, and agrees that none of such obligations and covenants shall be limited by the execution and delivery of the Agreement.

 

[SIGNATURES ON FOLLOWING PAGES]

 

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

 

	
 
    	
BORROWER:
    
	
 
    	
 
    
	
 
    	
TRANSMONTAIGNE   OPERATING COMPANY L.P.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
TransMontaigne   Operating GP L.L.C., its sole general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
FULL RECOURSE   GUARANTORS:
    
	
 
    	
 
    
	
 
    	
TRANSMONTAIGNE   TERMINALS, L.L.C., a Delaware limited liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
RAZORBACK   L.L.C.,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
TPSI   TERMINALS L.L.C.,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    

 

 

	
 
    	
TPME   L.L.C.,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
TLP   FINANCE CORP.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TLP   OPERATING FINANCE CORP.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LIMITED   RECOURSE GUARANTOR:
    
	
 
    	
 
    
	
 
    	
TRANSMONTAIGNE   PARTNERS L.P.,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
TransMontaigne   GP L.L.C., its sole general partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert T. Fuller
    
	
 
    	
 
    	
Name:   Robert T. Fuller
    
	
 
    	
 
    	
Title:   Chief Financial Officer and Executive Vice President
    

 

 

	
AGENT   AND LENDERS:
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   Agent and as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Andrew Ostrov
    
	
 
    	
Name:
    	
Andrew   Ostrov
    
	
 
    	
Title:
    	
Director
    

 

 

	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael Clayborne
    
	
 
    	
Name:
    	
Michael   Clayborne
    
	
 
    	
Title:
    	
Vice   President
    

 

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Todd S. Anderson
    
	
 
    	
Name:
    	
Todd   S. Anderson
    
	
 
    	
Title:
    	
Vice   President
    

 

 

	
 
    	
MUFG   UNION BANK, N.A., f/k/a UNION BANK, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Rachel Bowman
    
	
 
    	
Name:
    	
Rachel   Bowman
    
	
 
    	
Title:   
    	
Vice   President
    

 

 

	
 
    	
AMEGY   BANK NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Charles Troeger
    
	
 
    	
Name:
    	
Charles   Troeger
    
	
 
    	
Title:   
    	
VP
    

 

 

	
 
    	
COMPASS   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Rhianna Disch
    
	
 
    	
Name:   
    	
Rhianna   Disch
    
	
 
    	
Title:   
    	
Vice   President
    

 

 

	
 
    	
COMERICA   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Devin S. Eaton
    
	
 
    	
Name:   
    	
Devin   S. Eaton
    
	
 
    	
Title:   
    	
Relationship   Manager
    

 

 

	
 
    	
CITIBANK,   N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Tom Benavides
    
	
 
    	
Name:
    	
Tom   Benavides
    
	
 
    	
Title:
    	
Director
    

 

 

	
 
    	
CADENCE   BANK, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David Anderson
    
	
 
    	
Name:   
    	
David   Anderson
    
	
 
    	
Title:   
    	
Senior   Vice President
    

 

 

	
 
    	
SANTANDER   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Kel Christensen
    
	
 
    	
Name:   
    	
Kel   Christensen
    
	
 
    	
Title:
    	
 Senior Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Puiki Lok
    
	
 
    	
Name:   
    	
Puiki   Lok
    
	
 
    	
Title:   
    	
Vice   President
    

 

 

	
 
    	
CIT   BANK, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Stewart McLeod
    
	
 
    	
Name:   
    	
Stewart   McLeod
    
	
 
    	
Title:   
    	
Director
    

 

 

	
 
    	
ROYAL   BANK OF CANADA,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Jay Sartain
    
	
 
    	
Name:   
    	
Jay   Sartain
    
	
 
    	
Title:   
    	
Authorized   SignatoryExhibit 10.2

 

Execution Version

 

ASSIGNMENT AND AMENDMENT NO. 4 TO AMENDED AND RESTATED OMNIBUS AGREEMENT

 

THIS ASSIGNMENT AND AMENDMENT NO. 4 TO AMENDED AND RESTATED OMNIBUS AGREEMENT (this “Fourth Amendment”) is made and entered into as of February 1, 2016 by and among TRANSMONTAIGNE PARTNERS L.P., a Delaware limited partnership (the “Partnership”), TRANSMONTAIGNE LLC, a Delaware limited liability company and formerly known as TransMontaigne Inc. (“TM LLC”), TRANSMONTAIGNE GP L.L.C., a Delaware limited liability company (the “General Partner”), TRANSMONTAIGNE OPERATING GP L.L.C., a Delaware limited liability company (the “OLP GP”), TRANSMONTAIGNE OPERATING COMPANY L.P., a Delaware limited partnership (the “Operating Partnership”), and GULF TLP HOLDINGS, LLC, a Delaware limited liability company (“Buyer” and, together with the Partnership, TM LLC, the General Partner, the OLP GP and the Operating Partnership, each a “Party” and collectively the “Parties”).

 

RECITALS

 

A.                                    The Parties (other than Buyer) previously entered into the Amended and Restated Omnibus Agreement dated as of December 31, 2007, but effective for all purposes as of January 1, 2008, as amended by the First Amendment to Amended and Restated Omnibus Agreement dated as of July 16, 2013, the Second Amendment to Amended and Restated Omnibus Agreement dated as of April 14, 2015, and the Third Amendment to Amended and Restated Omnibus Agreement (the “Third Amendment”) dated as of June 16, 2015 (collectively, the “Original Agreement”); and

 

B.                                    The Parties acknowledge that, as of the date hereof, the current annual rate of the Administrative Fee, escalated in accordance with Section 2.1(a) of the Original Agreement, is $11,320,488 (excluding, for the avoidance of doubt, any fees or reimbursements for butane blending services).

 

C.                                    The Parties desire to amend the Original Agreement in certain respects.

 

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.              ARTICLE I: CONSTRUCTION

 

1.1.                            Defined Terms. Terms and references used but not otherwise defined in this Fourth Amendment have the respective meanings given to such terms in the Original Agreement.

 

1.2.                            Headings. All headings herein are intended solely for convenience of reference and shall not affect the meaning or interpretation of the provisions of this Fourth Amendment.

 

1.3.                            References. Each reference in the Original Agreement to “this Agreement”, “herein” or words of like import referring to such Original Agreement shall mean and be a reference to the Original Agreement, as amended by this Fourth Amendment, and “thereunder”,

 

 

“thereof’ or words of like import shall mean and be a reference to the Original Agreement, as amended by this Fourth Amendment. Any notices, requests, certificates and other documents executed and delivered on or after the date hereof may refer to the Original Agreement without making specific reference to this Fourth Amendment, but nevertheless all such references shall mean the Original Agreement as amended by this Fourth Amendment.

 

2.              ARTICLE II: ASSIGNMENT.

 

2.1.                            TM LLC hereby assigns, transfers and conveys all of its rights, title and interest in and to the Omnibus Agreement to Buyer. In accordance with Section 5.6 of the Original Agreement, each Party hereby irrevocably consents to such assignment.

 

3.              ARTICLE III: AMENDMENT TO AGREEMENT.

 

3.1.                            The second stand-alone paragraph of Section 2.1(a) of the Original Agreement, which was added to the Original Agreement pursuant to the Third Amendment, is hereby deleted in its entirety.  The Parties acknowledge and agree that the matters formerly addressed by such provisions will, as of and following the date hereof, be addressed in the Butane Blending Services Agreement, dated as of the date hereof, by and among NGL Energy Partners LP, TransMontaigne Services LLC and the Operating Partnership.

 

3.2.                            The following provisions shall be added as a new Section 2.1(g) of the Original Agreement, and by its execution of this Fourth Amendment Buyer hereby acknowledges and agrees to the Assignment (defined below) and agrees to be bound by the terms of the Original Agreement upon the consummation of the Assignment:

 

“(g)       Notwithstanding anything to the contrary in this Restated Agreement (including Sections 2.1(a) and 2.1(e)), the “Applicable Period” shall not terminate upon the closing of the transactions contemplated by that certain Purchase Agreement, dated as of January   , 2016, by and among TransMontaigne Services LLC and Buyer, it being the intention of the Parties that this Restated Agreement shall remain in full force and effect following such Closing (as modified by this Fourth Amendment) (such date being referred to herein as the “Assignment Date”), and without any further action required on the part of any Party, (i) all of the rights and obligations of TMG or its Affiliates arising on or after the Assignment Date under this Restated Agreement shall be deemed to be assigned in their entirety to Buyer, (ii) this Restated Agreement shall be deemed to be amended and restated, effective as of the Assignment Date, to remove TMG from the definition of “Party” and to replace each such reference to TMG in this Restated Agreement (and all similar references to TMG) to Buyer, and (iii) TMG shall have no further rights or obligations pursuant to this Restated Agreement; provided that such assignment shall not affect the rights and obligations of the Parties prior to the Assignment Date, including any outstanding payment obligations on the part of any Party.”

 

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3.3.                            Pursuant to  Section 5.2 of the Original Agreement, Buyer hereby stipulates to the other Parties that, following the assignment of the Original Agreement to Buyer, the notice address for Buyer for purposes of Section 5.12 of the Original Agreement is as follows:

 

Gulf TLP Holdings, LLC

c/o ArcLight Capital Partners, LLC

200 Clarendon Street, 55th Floor

Attention: General Counsel

Facsimile No.: 617-867-4698

E-mail: tburke@arclightcapital.com

 

4.              ARTICLE IV: MISCELLANEOUS PROVISIONS

 

4.1.                            Effective Date.  This Fourth Amendment shall be effective as of the date hereof.

 

4.2.                            Scope of Fourth Amendment. The Original Agreement is amended only as expressly modified by this Fourth Amendment.  Except as expressly modified by this Fourth Amendment, the terms of the Original Agreement remain unchanged, and the Original Agreement is hereby ratified and confirmed by the Parties in all respects.  In the event of any inconsistency between the terms of the Original Agreement and this Fourth Amendment, this Fourth Amendment shall prevail to the extent of such inconsistency.

 

4.3.                            Representations and Warranties. Each Party represents and warrants that this Fourth Amendment has been duly authorized, executed and delivered by it and that each of this Fourth Amendment and the Original Agreement constitutes its legal, valid, binding and enforceable obligation, enforceable against it in accordance with its terms, except to the extent such enforceability may be limited by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general principles of equity.

 

4.4.                            No Waiver. Except as expressly provided herein, the execution and delivery of this Fourth Amendment shall not be deemed or construed to (i) constitute an extension, modification or waiver of any term or condition of the Original Agreement, (ii) give rise to any obligation on the part of any Party to extend, modify or waive any term or condition of the Original Agreement, or (iii) be a waiver by any Party of any of its rights under the Original Agreement, at law or in equity.

 

4.5.                            Reaffirmation. Each Party hereby reaffirms each and every representation, warranty, covenant, condition, obligation and provision set forth in the Original Agreement, as modified hereby.

 

4.6.                            Choice of Law.  This Fourth Amendment shall be governed by and construed in accordance with the law of the State of Delaware, without regard to the conflicts of law rules of such state.

 

4.7.                            Jurisdiction.  The Parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Fourth Amendment or the transactions contemplated hereby shall be brought and determined

 

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exclusively in in the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware), and that any cause of action arising out of this Fourth Amendment shall be deemed to have arisen from a transaction of business in the State of Delaware, and each of the Parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.  Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.

 

4.8.                            Waiver of Jury Trial. Each Party further waives, to the fullest extent permitted by Applicable Law, any right it may have to a trial by jury in respect of any proceedings relating to this Fourth Amendment.

 

4.9.                            Severability. If any Article, Section or provision of this Fourth Amendment shall be determined to be null and void, voidable or invalid by a court of competent jurisdiction, then for such period that the same is void or invalid, it shall be deemed to be deleted from this Fourth Amendment and the remaining portions of this Fourth Amendment shall remain in full force and effect.

 

4.10.                     Counterparts: Facsimile Signatures. This Fourth Amendment may be executed by the Parties in separate counterparts and delivered by electronic or facsimile transmission or otherwise and all such counterparts shall together constitute one and the same instrument.

 

[signature page follows]

 

4

 

IN WITNESS WHEREOF, the Parties have executed this Assignment and Fourth Amendment to Amended and Restated Omnibus Agreement s as of the date first written above.

 

 

	
 
    	
TRANSMONTAIGNE LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Atanas H. Atanasov
    
	
 
    	
Name:
    	
Atanas H. Atanasov
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TRANSMONTAIGNE GP L.L.C
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Frederick W. Boutin
    
	
 
    	
Name:
    	
Frederick W. Boutin
    
	
 
    	
Title:
    	
Chief Executive Officer
    

 

5

 

IN WITNESS WHEREOF, the Parties have executed this Assignment and Fourth Amendment to Amended and Restated Omnibus Agreement s as of the date first written above.

 

 

	
 
    	
TRANSMONTAIGNE   PARTNERS L.P.
    
	
 
    	
By:   TransMontaigne GP L.L.C., its General Partner
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Frederick W. Boutin
    
	
 
    	
Name:
    	
Frederick W. Boutin
    
	
 
    	
Title:
    	
Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TRANSMONTAIGNE   OPERATING COMPANY L.P.
    
	
 
    	
By: TransMontaigne   Operating GP L.L.C.,
    
	
 
    	
its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Frederick W. Boutin
    
	
 
    	
Name:
    	
Frederick W. Boutin
    
	
 
    	
Title:
    	
Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TRANSMONTAIGNE   OPERATING GP L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Frederick W. Boutin
    
	
 
    	
Name:
    	
Frederick W. Boutin
    
	
 
    	
Title:
    	
Chief Executive Officer
    

 

6

 

IN WITNESS WHEREOF, the Parties have executed this Assignment and Fourth Amendment to Amended and Restated Omnibus Agreement s as of the date first written above.

 

 

	
 
    	
GULF TLP HOLDINGS, LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Daniel R. Revers
    
	
 
    	
Name:
    	
Daniel R. Revers
    
	
 
    	
Title:
    	
President
    

 

7

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