Document:

EXHIBIT 10.3

 

SECOND AMENDMENT TO

CREDIT AGREEMENT AND CONSENT

 

THIS
SECOND AMENDMENT TO CREDIT AGREEMENT AND CONSENT (the “Second
Amendment”) is dated as of March 8, 2007, effective as of January 1,
2007, and is made by and among RHINO ENERGY LLC,
a Delaware limited liability company formerly known as CAM Holdings LLC (the “Borrower”),
EACH OF THE GUARANTORS (as hereinafter
defined), the LENDERS  PARTY HERETO,
and PNC BANK, NATIONAL ASSOCIATION, in its
capacity as administrative agent for the Lenders under this Agreement
(hereinafter referred to in such capacity as the “Agent”).

 

RECITALS:

 

WHEREAS, the Borrower, the
Guarantors (as defined therein), the Lenders (as defined therein), and the
Agent are parties to that certain Credit Agreement, dated as of August 30,
2006, as amended by that certain First Amendment to Credit Agreement, dated as
of December 28, 2006 (as so amended and as the same may be further
amended, modified or supplemented from time to time, the “Credit Agreement”);
and

 

WHEREAS, the Borrower and the
Guarantors have requested that the Lenders agree to amend certain provisions of
the Credit Agreement and certain of the other Loan Documents and consent to (i) the
amendment of certain of the Loan Parties’ organizational documents to reflect
the change of the names of such Loan Parties; (ii) the relinquishment by
Wexford Capital LLC (“Wexford Capital”) of all of its zero percent
(0.0%) member interests in all of the Loan Parties other than the Borrower (the
“Non-Borrower Loan Parties”) as of September 13, 2006 , and the
cancellation of such relinquished zero percent (0.0%) member interests (the “Wexford
Relinquishment”); (iii) the amendment of each Non-Borrower Loan Party’s
organizational documents to name the parent company of each Non-Borrower Loan
Party as each such Non-Borrower Loan Party’s manager in place of Wexford
Capital, (iv) the amendment of each Loan Party’s (other than CAM Aircraft
LLC and CAM-Colorado LLC) organizational documents to grant the manager of each
of such Loan Parties the right to convert each such Loan Party to a corporation
and other rights related thereto (other than CAM Aircraft LLC and CAM-Colorado
LLC, whose managers already possessed such right), all as set forth in Section 4.7
of each Loan Party’s limited liability operating agreement, a true and correct
copy of each of which has been previously delivered to the Agent (the “Conversion
Rights”); (v) the correction of the incorrect listing in the Credit
Agreement and the Pledge Agreement (Borrower) of Wexford Absolute Return Fund,
L.P. (“Wexford Absolute”) as an owner of a 22.4/100 of one percent
(.224%) common interest in the Borrower and a 1.5/100 of one percent (.015%)
preferred interest in the Borrower (collectively, the “Conveyed Interests”),
when Wexford Absolute had previously conveyed the Conveyed Interests to Wexford
Spectrum Fund Liquidating LLC (“Wexford Spectrum”) prior to the
execution of the Credit Agreement and the Pledge Agreement (Borrower); (vi) the
conversion of the applicable Loan Parties’ LLC Interests which had previously
been “certificated securities” (as defined in the applicable Uniform Commercial
Code) to uncertificated LLC Interests and any amendment of those Loan Parties’
organizational 

 

 

documents to
reflect such conversion; and (vii) the transfer of Subsidiary Shares, LLC
Interests and Partnership Interests to Loan Parties; all pursuant to the terms
and subject to the applicable conditions and requirements set forth herein, and
the Required Lenders (as defined in the Credit Agreement) have agreed to amend
the Credit Agreement and such other Loan Documents and grant such consent as
hereinafter provided.

 

NOW, THEREFORE, in
consideration of the foregoing and intending to be legally bound, and
incorporating the above-defined terms herein, the parties hereto agree as
follows:

 

1.                                       Recitals &
Definitions.  The foregoing recitals
are true and correct and incorporated herein by reference.  Unless otherwise defined herein, capitalized
terms used herein shall have the meanings given to them in the Credit
Agreement.

 

2.                                       Consent
of the Lenders.  The Agent and the
Lenders hereby consent to the following:

 

(a)                                  As
to Name Changes of Borrower and certain other Loan Parties in Credit Agreement
and other Loan Documents.  The
Borrower’s and certain of the other Loan Parties’ amendment of their respective
organizational documents to reflect the changes of their respective entity
names as follows:  (i) “CAM Holdings
LLC” to “Rhino Energy LLC”; (ii) “CAM-Ohio 
Holdings LLC” to “Rhino Northern Holdings LLC”; (iii) “CAM-Ohio LLC”
to “Hopedale Mining LLC”; and (iv) “CAM-Illinois LLC to “Taylorville
Mining LLC”, effective as of the Second Amendment Effective Date (as defined
below).

 

(b)                                 As
to Wexford Relinquishment.  The
Wexford Relinquishment by the Non-Borrower Loan Parties, as the issuers of the
applicable membership interests subject to the Wexford Relinquishment, and any
amendments to the organizational documents of the such issuers as necessary to
reflect the Wexford Relinquishment, all on terms and conditions acceptable to
the Agent, effective as of September 13, 2006.  The Lenders hereby grant to the Agent the
authority to return to the Borrower, upon the Borrower’s request, any
certificates in the Agent’s possession evidencing such membership interests.

 

(c)                                  As
to Changes of Non-Borrower Loan Party Managers.  Each Non-Borrower Loan Party’s amendment of
their respective organizational documents to name the parent company of each
Non-Borrower Loan Party as each such Non-Borrower Loan Party’s manager in place
of Wexford Capital, all on terms and conditions acceptable to the Agent,
effective as of September 13, 2006.

 

(d)                                 As
to Conversion Rights, Etc.  Each Loan
Party’s (other than CAM Aircraft LLC and CAM-Colorado LLC) amendment of their
respective organizational documents to grant the manager of each of such Loan
Parties the Conversion Rights, all on terms and conditions acceptable to the
Agent, effective as of September 7, 2006 for the Borrower and as of September 13,
2006 for all of such other Loan Parties; subject, however, to the
Borrower’s and each other Loan Party’s express acknowledgement and agreement
hereunder that:

 

2

 

(i)                                     in
no case shall the Agent’s and the Lenders’ consent under this Section 2(d) constitute
or be deemed to constitute any actual or implied consent, approval, waiver or
agreement to the exercise of any such Conversion Rights with respect to the
Borrower, any Loan Party or any of their respective Subsidiaries; and

 

(ii)                                  any
exercise of any of the Conversion Rights with respect to the Borrower, any Loan
Party or any of their respective Subsidiaries shall be expressly subject to
compliance with the terms and conditions of the Credit Agreement and any other
Loan Document.

 

(e)                                  As
to Conversion of Certificated LLC Interests.  The conversion of the applicable Loan Parties’
LLC Interests which had previously been certificated securities to
uncertificated LLC Interests and any amendment of those Loan Parties’
organizational documents to reflect such conversion, as long as (i) written
notice of such conversion and copies of any such amendments and all limited
liability company action in connection therewith are delivered to the Agent,
and (ii) all of the Loan Parties are in compliance with, and such conversion
and the effect of such conversion complies with, the terms and conditions of
the Credit Agreement and any other applicable Loan Document, including without
limitation the continuing Lien of the Agent for the benefit of itself and the
Lenders thereunder, and no Potential Default or Event of Default has occurred
and is continuing or exists or would result therefrom.  The Lenders hereby grant to the Agent the
authority to return to the Borrower, upon the Borrower’s request, any
certificates in the Agent’s possession evidencing such LLC Interests upon such
conversion.  Until all of the foregoing
in this subsection (e) shall have been satisfied, no such conversion shall
be binding upon the Agent or the Lenders, and the Agent and the Lenders shall
be entitled to treat all of the LLC Interests as certificated securities for
any and all purposes, including without limitation, with respect to the Liens
thereon, any and all rights and remedies with respect thereto, and any and all
related action.

 

(f)                                    As
to Transfers of LLC Interests, Etc. 
The transfer of Subsidiary Shares, LLC Interests and Partnership
Interests to any Loan Party as long as (i) prior written notice thereof is
delivered to the Agent, (ii) the Loan Parties provide supplemental
Schedules to the Credit Agreement and other Loan Documents, as applicable, to
reflect such transfer, and (iii) all of the Loan Parties are in compliance
with, and such transfer and the effect of such transfer otherwise complies
with, the terms and conditions of the Credit Agreement and any other applicable
Loan Document, including without limitation the continuing Lien of the Agent
for the benefit of itself and the Lenders thereunder.

 

3.                                       Amendments
to Credit Agreement and other Loan Documents.  The Credit Agreement and the other Loan
Documents are hereby amended as follows:

 

(a)                                  New
Definitions.  Section 1.1
[Certain Definitions] of the Credit Agreement is hereby amended to insert the
following new definitions in the appropriate alphabetical order therein:

 

“Second Amendment shall mean that
certain Second Amendment to Credit Agreement and Consent, dated as of March 8,
2007, among the Borrower, the Guarantors, the Lenders party thereto and the
Agent.”

 

3

 

“Second Amendment Effective Date shall
mean the effective date of the Second Amendment in accordance with its terms.”

 

(b)                                 Amendments
as to Name Changes of Borrower and certain other Loan Parties in Credit
Agreement and other Loan Documents. 
Each and every reference to:  (i) “CAM
Holdings LLC” in the Credit Agreement and the other Loan Documents is hereby
amended to read “Rhino Energy LLC”; (ii) “CAM-Ohio  Holdings LLC” in the Credit Agreement and the
other Loan Documents is hereby amended to read “Rhino Northern Holdings LLC”; (iii) “CAM-Ohio
LLC” in the Credit Agreement and the other Loan Documents is hereby amended to
read “Hopedale Mining LLC”; and (iv) “CAM-Illinois LLC” in the Credit
Agreement and the other Loan Documents is hereby amended to read “Taylorville
Mining LLC”.

 

(c)                                  As
to Wexford Relinquishment, Correction of Conveyed Interests by Wexford Absolute
to Wexford Spectrum, Conversion of Certified LLC Interests, and Transfer of
Certain Loan Party Ownership.  (i) Schedule
6.1.2 [Capitalization], Schedule 6.1.3 [Subsidiaries] and Schedule
6.1.29 [Partnership Agreements; LLC Agreements] of the Credit Agreement are
hereby amended and restated in their entirety to read as Schedule 6.1.2
[Capitalization], Schedule 6.1.3 [Subsidiaries] and Schedule 6.1.29
[Partnership Agreements; LLC Agreements] attached hereto, (ii) Schedule A
to the Pledge Agreement (Borrower) is hereby amended and restated in its
entirety to read as Schedule A to Pledge Agreement (Borrower) attached hereto,
and (iii) Schedule A to the Pledge Agreement, dated as of August 30,
2006, by and among the Borrower, Wexford Capital and the other Pledgors parties
thereto in favor of the Agent is hereby amended and restated in its entirety to
read as Schedule A to Pledge Agreement attached hereto; all of the foregoing as
applicable in order to reflect the (i) Wexford Relinquishment as of September 13,
2006, (ii) the correction of the ownership of the Conveyed Interests of
Wexford Absolute transferred to Wexford Spectrum as of August 30, 2006, (iii) the
conversion of the LLC Interests from certificated securities to uncertificated
LLC Interests, and (iv) transfers of LLC Interests by the Loan Parties to
any other Loan Parties.

 

4.                                       Conditions
to Closing.  This Second Amendment
shall have an effective date of January 1, 2007 subject to each of
the following conditions having been satisfied to the satisfaction of the Agent
(the “Second Amendment Effective Date”):

 

(a)                                  Execution
and Delivery of Second Amendment. 
The Borrower, the other Loan Parties, the Required Lenders, and the Agent
shall have executed this Second Amendment, and all other documentation
necessary for effectiveness of this Second Amendment shall have been executed
and delivered all to the satisfaction of the Borrower, the Required Lenders and
the Agent.

 

(b)                                 Representations
and Warranties; No Event of Default. 
The representations and warranties contained in Section 6 of the
Credit Agreement and this Second Amendment, and of each Loan Party in each of
the other Loan Documents, are true and correct on and as of the Second
Amendment Effective Date with the same effect as though such representations
and warranties had been made on and as of such date (except representations and
warranties which relate solely to an earlier date or time, which
representations and warranties were true and correct 

 

4

 

on and as of the specific dates
or times referred to therein), each of the Loan Parties has performed and
complied with all covenants and conditions hereof and thereof, and no Event of
Default or Potential Default has occurred and is continuing or exists as of the
Second Amendment Effective Date; and by its execution and delivery of this
Second Amendment, the Borrower and each other Loan Party certifies to each such
effect.

 

(c)                                  Payment
of Fees.  The Borrower has paid or
caused to be paid to the all fees, costs and expenses payable to the Agent or
for which the Agent is entitled to be reimbursed, including but not limited to
the reasonable fees and expenses of the Agent’s legal counsel.

 

(d)                                 Consents.  All material consents required to effectuate
the transactions contemplated by this Second Amendment and the other Loan
Documents have been obtained.

 

(e)                                  Legal
Details.  All legal details and
proceedings in connection with the transactions contemplated by this Second
Amendment and the other Loan Documents are in form and substance satisfactory
to the Agent and counsel for the Agent, and the Agent has received all such
other counterpart originals or certified or other copies of such documents and
proceedings in connection with such transactions, in form and substance
satisfactory to the Agent and its counsel, as the Agent or its counsel may
reasonably request.

 

5.                                       Representations
and Warranties.  By its execution and
delivery of this Second Amendment to the Agent, the Borrower and each of the
other Loan Parties represents and warrants to the Agent and the Lenders as
follows:

 

(a)                                  Authorization,
Etc.  Each Loan Party has duly
authorized, executed and delivered this Second Amendment.

 

(b)                                 Material
Adverse Change.  After giving effect
to this Second Amendment, no Material Adverse Change shall have occurred with
respect to the Borrower or any of the other Loan Parties since the Closing Date
of the Credit Agreement.

 

(c)                                  Litigation.  After giving effect to this Second Amendment,
there are no actions, suits, investigations, litigation or governmental
proceedings pending or, to the Borrower’s or any other Loan Party’s knowledge,
threatened against any of the Loan Parties that could reasonably be expected to
result in a Material Adverse Change.

 

6.                                       Miscellaneous.

 

(a)                                  Full
Force and Effect.  All provisions of
the Credit Agreement and the other Loan Documents remain in full force and
effect on and after the Second Amendment Effective Date and the date hereof
except as expressly amended hereby.  The
parties do not amend any provisions of the Credit Agreement or any other Loan
Document except as expressly amended hereby.

 

(b)                                 Counterparts.  This Second Amendment may be signed in
counterparts (by facsimile transmission or otherwise) but all of which together
shall constitute one and the same instrument.

 

5

 

(c)                                  Incorporation
into Credit Agreement.  This Second
Amendment shall be incorporated into the Credit Agreement by this
reference.  All representations,
warranties, Events of Default and covenants set forth herein shall be a part of
the Credit Agreement as if originally contained therein.

 

(d)                                 Governing
Law.  This Second Amendment shall be
deemed to be a contract under the Laws of the Commonwealth of Pennsylvania and
for all purposes shall be governed by and construed and enforced in accordance
with the internal laws of the Commonwealth of Pennsylvania without regard to
its conflict of laws principles.

 

(e)                                  No
Novation.  Except as amended hereby,
all of the terms and conditions of the Credit Agreement and the other Loan
Documents shall remain in full force and effect.  The Borrower, the other Loan Parties, each
Lender, and the Agent acknowledge and agree that this Second Amendment is not
intended to constitute, nor does it constitute, a novation, interruption,
suspension of continuity, satisfaction, discharge or termination of the
obligations, loans, liabilities, or indebtedness under the Credit Agreement or the
other Loan Documents.

 

[SIGNATURE
PAGES FOLLOW]

 

6

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

IN WITNESS WHEREOF, the parties hereto, by
their officers thereunto duly authorized, have executed this Third Amendment as
of the day and year first above written.

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  RHINO ENERGY LLC, a Delaware limited

  liability company formerly known as “CAM

  Holdings LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
   /s/  RICHARD
  A. BOONE 

  	
  (SEAL)

  
	
   

  	
  Name:  Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  

 

 

	
   

  	
  GUARANTORS:

  
	
   

  	
   

  
	
   

  	
  CAM MINING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name:  Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  

 

	
   

  	
  CAM-BB LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name:  Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  

 

	
   

  	
  CAM-KENTUCKY REAL ESTATE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name:  Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

 

	
   

  	
  RHINO NORTHERN HOLDINGS LLC,

  
	
   

  	
  formerly known as “CAM-Ohio Holdings LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name: Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAM COAL TRADING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name:  Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LEESVILLE LAND, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name:  Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAM AIRCRAFT LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name:   Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOPEDALE MINING LLC, formerly known as

  
	
   

  	
  “CAM-Ohio LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name: Richard A. Boone

  
	
   

  	
  Title: Sr. Vice President and CFO

  
					

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

 

	
   

  	
  CAM-OHIO REAL ESTATE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name: Richard A. Boone

  	
   

  
	
   

  	
  Title: Sr. Vice President and CFO

  
				

 

 

	
   

  	
  SPRINGDALE LAND, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name: Richard A. Boone

  	
   

  
	
   

  	
  Title: Sr. Vice President and CFO

  
				

 

 

	
   

  	
  CAM-COLORADO LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name: Richard A. Boone

  	
   

  
	
   

  	
  Title: Sr. Vice President and CFO

  
				

 

 

	
   

  	
  TAYLORVILLE MINING LLC, formerly known

  
	
   

  	
  as “CAM-Illinois LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ RICHARD A. BOONE

  
	
   

  	
  Name: Richard A. Boone

  	
   

  
	
   

  	
  Title: Sr. Vice President and CFO

  
				

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

	
   

  	
  LENDERS:

  
	
   

  	
   

  
	
   

  	
  PNC BANK, NATIONAL ASSOCIATION,

  individually and as Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ HOLLY L. KAY

  
	
   

  	
  Name: 

  	
  Holly L. Kay

  
	
   

  	
  Title: 

  	
  Corporate Banking Officer

  
				

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ STEPHEN J. HOFFMAN

  
	
   

  	
  Name:

  	
  Stephen J. Hoffman

  
	
   

  	
  Title: 

  	
  Managing Director

  
				

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

 

	
   

  	
  THE HUNTINGTON NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ L. BLAIR DEVAN

  
	
   

  	
  Name: 

  	
  L. Blair DeVan

  
	
   

  	
  Title: 

  	
  Vice President

  
				

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

 

	
   

  	
  NATIONAL CITY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ DAVID M. METZ

  
	
   

  	
  Name: 

  	
  David M. Metz

  
	
   

  	
  Title: 

  	
  Senior Vice President

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

 

	
   

  	
  RAYMOND JAMES BANK, FSB, individually

  and as Co-Documentation Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ ANDREW D. HAHN

  
	
   

  	
  Name:

  	
  Andrew D. Hahn

  
	
   

  	
  Title:

  	
  Vice President

  
				

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

 

	
   

  	
  ROYAL  BANK OF CANADA.,
  individually and

  as Co-Documentation Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ DON J. MCKINNERNEY

  
	
   

  	
  Name: 

  	
  Don J. McKinnerney

  
	
   

  	
  Title:

  	
  Authorized Signatory

  
				

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

 

	
   

  	
  UNION BANK OF CALIFORNIA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ BRYAN READ

  
	
   

  	
  Name: 

  	
  Bryan Read

  
	
   

  	
  Title: 

  	
  Vice President

  
				

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO CREDIT
AGREEMENT AND CONSENT]

 

 

	
   

  	
  WACHOVIA  BANK,
  NATIONAL

  ASSOCIATION, individually and as Co-

  Documentation Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ JONATHAN R. RICHARDSON

  
	
   

  	
  Name: 

  	
  Jonathan R. Richardson

  
	
   

  	
  Title: 

  	
  Vice PresidentEXHIBIT 10.4

 

THIRD AMENDMENT TO

CREDIT AGREEMENT

 

THIS THIRD
AMENDMENT TO CREDIT AGREEMENT (the “Third Amendment”)
is dated as of February 29, 2008, and is made by and among RHINO ENERGY LLC, a Delaware limited liability company
formerly known as CAM Holdings LLC (the “Borrower”), EACH OF THE GUARANTORS (as hereinafter defined), the LENDERS  PARTY HERETO,
and PNC BANK, NATIONAL ASSOCIATION, in its
capacity as administrative agent for the Lenders under this Agreement
(hereinafter referred to in such capacity as the “Agent”).

 

RECITALS:

 

WHEREAS, the Borrower, the
Guarantors (as defined therein), the Lenders (as defined therein), and the
Agent are parties to that certain Credit Agreement, dated as of August 30,
2006, as amended by that certain First Amendment to Credit Agreement, dated as
of December 28, 2006, as amended by that certain Second Amendment to
Credit Agreement and Consent, dated March 8, 2007 (as so amended and as
the same may be further amended, modified or supplemented from time to time,
the “Credit Agreement”); and

 

WHEREAS, the Borrower and the Guarantors have
requested that the Lenders agree to amend certain provisions of the Credit
Agreement including extending the Expiration Date and increasing the Revolving
Credit Commitment from $125,000,000 to $200,000,000, all pursuant to the terms
and subject to the applicable conditions set forth herein, and the Required
Lenders (as defined in the Credit Agreement) have agreed to amend the Credit
Agreement as hereinafter provided.

 

NOW, THEREFORE, in consideration
of the foregoing and intending to be legally bound, and incorporating the
above-defined terms herein, the parties hereto agree as follows:

 

1.                                       Recitals &
Definitions.  The foregoing recitals
are true and correct and incorporated herein by reference.  Unless otherwise defined herein, capitalized
terms used herein shall have the meanings given to them in the Credit
Agreement.

 

2.                                       Amendments
to Credit Agreement.  The Credit
Agreement is hereby amended as follows:

 

(a)                      New Definitions.  Section 1.1 [Certain Definitions] of the
Credit Agreement is hereby amended to insert the following new definitions in
the appropriate alphabetical order therein:

 

“Material Subsidiary shall mean a
Subsidiary of the Borrower or any other Loan Party meeting any one of the
following criteria (i) such Subsidiary’s aggregate assets comprise five
percent (5%) or more of the consolidated assets of the Loan Parties, (ii) such
Subsidiary’s aggregate stockholders’ equity comprises five percent (5%) or more
of 

 

 

the consolidated stockholders’ equity of the Loan Parties; (iii) such
Subsidiary’s EBITDA comprises five percent (5%) or more of the consolidated
EBITDA of the Loan Parties or (iv) such Subsidiary’s aggregate gross
revenue comprises five percent (5%) or more of the consolidated gross revenue
of the Loan Parties.”

 

“Third Amendment shall mean that
certain Third Amendment to Credit Agreement, dated as of February 29,
2008, among the Borrower, the Guarantors, the Lenders party thereto and the
Agent.”

 

(b)                     Existing Definitions.  The following definitions in Section 1.1
[Certain Definitions] of the Credit Agreement are hereby amended and restated
as follows:

 

“Excluded Subsidiaries shall mean individually and collectively,
CAM - Illinois LLC, CAM - Colorado LLC, Rhino Energy, Rhino Trucking and any of
their respective Subsidiaries; provided however, that within thirty (30) days
from the date of the Third Amendment, Rhino Trucking shall no longer be an
Excluded Subsidiary and shall be required to join the Credit Agreement and Loan
Documents as a Guarantor and shall cause its membership interests to be pledged
to the Agent for the benefit of the Lenders.”

 

“Expiration Date shall mean, with respect to the Revolving
Credit Commitments, February 28, 2013.”

 

“Guarantor shall mean each of the
parties to this Agreement which is designated as a ‘Guarantor’ on the signature
page hereof, and each other Person which joins this Agreement as a
Guarantor after the date hereof pursuant to Section 11.18, specifically
excluding, however, Rhino Energy and Rhino Trucking; provided however, that
within thirty (30) days from the date of the Third Amendment, Rhino Trucking
shall be required to join the Credit Agreement and Loan Documents as a
Guarantor.”

 

(c)                      Revolving Credit Commitments.  Section 2.1 of the Credit Agreement
[Revolving Credit Commitments] shall be amended and restated as follows:

 

“2.1                           Revolving Credit
Commitments.

 

Subject to the terms and
conditions hereof and relying upon the representations and warranties herein
set forth, each Lender severally agrees to make Revolving Credit Loans to the
Borrower at any time or from time to time on or after the date hereof to the
Expiration Date, provided that after giving effect to such Loan the
aggregate amount of Revolving Credit Loans from such Lender shall not exceed
such Lender’s Revolving Credit Commitment minus such Lender’s Ratable Share of
the Letters of Credit Outstanding. 
Within such limits of time and amount and subject to the other
provisions of this Agreement, the Borrower may borrow, repay and reborrow
pursuant to this Section 2.1.  The
aggregate amount of the Revolving Credit Commitments on date of the Third
Amendment is $200,000,000.  Revolving
Credit Loans shall be available to the Borrower solely for the purposes set
forth in Section 8.1.10.”

 

2

 

(d)                     Issuance of Letters of Credit.  Section 2.9.1 (i) of the Credit
Agreement shall be amended and restated as follows:

 

“(i) the Letters of Credit Outstanding exceed, at any one time,
$50,000,000 or”

 

(e)                      Aggregate
Revolving Credit Commitments.  Section 2.10.1
(iii) [Aggregate Revolving Credit Commitments] of the Credit Agreement
shall be amended and restated as follows:

 

“(iii)  Aggregate
Revolving Credit Commitments. 
After giving effect to any such increase, the total Revolving Credit
Commitments shall not exceed $275,000,000 and the total aggregate amount of all
such increases shall not exceed $75,000,000.”

 

(f)                        Preservation of Existence,
Etc.  Section 8.1.1
[Preservation of Existence, Etc.] of the Credit Agreement shall be amended and
restated as follows:

 

“8.1.1                  Preservation
of Existence, Etc.

 

The Borrower shall, and shall cause each of its Subsidiaries to,
maintain its legal existence as a corporation, limited partnership or limited liability
company and its license or qualification and good standing in each jurisdiction
in which its ownership or lease of property or the nature of its business makes
such license or qualification necessary, except as otherwise expressly
permitted in Section 8.2.6 [Liquidations, Mergers, Etc.].  Notwithstanding the foregoing and with the
Agent’s written consent, a Subsidiary that is not a Material Subsidiary may
dissolve; and in connection therewith the dissolving Subsidiary shall be
released of its obligations under a Guaranty, provided that such release shall
not become effective until such Guarantor is legally dissolved.  In connection with such dissolution, the
Agent is authorized to execute written documents or agreements confirming such
release.”

 

(g)                     Loans and Investments.  Section 8.2.4 (v) of the Credit
Agreement shall be amended and restated as follows:

 

“(v)  investments (including any
investments in the Excluded Subsidiaries) not otherwise permitted by this Section 8.2.4
in an aggregate amount not to exceed $25,000,000 at
anytime outstanding.”

 

(h)                     Liquidations, Mergers,
Consolidations, Acquisitions.  The
first paragraph of Section 8.2.6 (2) of the Credit Agreement shall be
amended and restated as follows (for the avoidance of doubt subsections 8.2.6(2)(i) through
(ix) shall remain unchanged):

 

“(2)  with the Agent’s written consent, any Subsidiary which is
not a Material Subsidiary may dissolve, liquidate or wind-up its affairs
pursuant to Section 8.1.1 [Preservation of Existence, Etc.], and”

 

3

 

(i)                   Section 8.2.9
[Subsidiaries, Partnerships and Joint Ventures].  The proviso and the last sentence in Section 8.2.9
[Subsidiaries, Partnerships and Joint Ventures] of the Credit Agreement are
hereby amended and restated in their entirety to read as follows:

 

“and such Subsidiary, other than Rhino Energy, and the Loan Parties, as
applicable, shall grant and cause to be perfected first priority Liens to the
Agent for the benefit of the Lenders in the assets held by, and stock of or
other ownership interests in, such Subsidiary, other than Rhino Energy.  Each of the Loan Parties shall not become or
agree to:  (1) become a general or
limited partner in any general or limited partnership, except that the Loan Parties
may be general or limited partners in other Loan Parties, (2) become a
member or manager of, or hold a limited liability company interest in, a
limited liability company, other than Rhino Energy, except that the Loan
Parties may be members or managers of, or hold limited liability company
interests in, other Loan Parties, or (3) become a joint venturer or hold a
joint venture interest in any joint venture, other than Rhino Energy.”

 

(j)                         Insolvency.  Section 9.1.10 [Insolvency] of the
Credit Agreement shall be amended and restated as follows:

 

“9.1.10                                                            Insolvency.

 

Any Loan Party or any Material
Subsidiary of a Loan Party ceases to be solvent or admits in writing its
inability to pay its debts as they mature;”

 

(k)                      Release of Collateral or
Guarantor.  Section 11.1.3
[Release of Collateral or Guarantor] of the Credit Agreement shall be amended
and restated as follows:

 

“11.1.3                                                            Release
of Collateral or Guarantor.

 

Except as permitted by Section 8.1.1
[Preservation of Existence, Etc.], Section 8.2.6 [Liquidations, Mergers,
Consolidation, Acquisitions] or Section 8.2.7 [Disposition of Assets or
Subsidiaries], release any Collateral consisting of capital stock or other
ownership interests of any Loan Party or any of its Subsidiaries or
substantially all of the assets of any Loan Party, any Guarantor from its
Obligations under the Guaranty Agreement or any other security for any of the
Loan Parties’ Obligations provided that the foregoing consent shall not
be required in connection with any dividend and distribution otherwise
permitted by this Agreement pursuant to Section 8.2.5(i), which such
consent is given solely by the Agent pursuant to Section 11.20; or”

 

(l)                   Section 11.18
[Joinder of Guarantors].  The last
sentence of Section 11.18 [Joinder of Guarantors] of the Credit Agreement
is hereby amended as follows:

 

“Notwithstanding the foregoing or anything
else contained in this Agreement, upon and after the First Amendment Effective
Date, Rhino Energy shall not (a) be required to join in this Agreement or
any other Loan Document as a Guarantor, (b) be required to grant any Liens
to the Agent for the benefit of the Lenders in the assets held 

 

4

 

by Rhino Energy, or (c) be required to have pledged any ownership
interests held by it or any Loan Party in Rhino Energy.”

 

(m)                   Schedules.  In order to reflect the increases in the
Revolving Credit Commitments Part 1 of Schedule 1.1(B) [Commitments
of Lenders and Addresses for Notices to Lenders] shall be amended and restated
to read as set forth on the Schedule attached to this Amendment bearing such
name and numerical reference.

 

3.                                       Conditions
to Closing.  This Third Amendment
shall become effective on the date of this Third Amendment provided that each
of the following conditions has been satisfied to the satisfaction of the Agent
on such date:

 

(a)                      Execution and Delivery of
Third Amendment.  The Borrower, the
other Loan Parties, the Required Lenders, and the Agent shall have executed
this Third Amendment, and all other documentation necessary for effectiveness
of this Third Amendment shall have been executed and delivered all to the
satisfaction of the Borrower, the Required Lenders and the Agent.

 

(b)                     Notes.  The Borrower shall have executed and
delivered to each of the Lenders whose Revolving Credit Commitment is
increasing new Revolving Credit Notes, reflecting the amount of each such
Lender’s Revolving Credit Commitments as so increased.

 

(c)                      Amendments
to Mortgages.  The applicable Loan
Parties shall have executed and delivered to the Agent an amendment to Mortgage
for each existing Mortgage in form and substance satisfactory to the Agent.

 

(d)                     Organization, Authorization and
Incumbency.  There shall be delivered
to the Agent for the benefit of each Lender a certificate, dated as of the date
hereof and signed by the Secretary or an Assistant Secretary of each Loan
Party, certifying as appropriate as to:

 

(i)                                     all action taken
by such Loan Party in connection with this Third Amendment;

 

(ii)                                  the names of the
officer or officers authorized to sign this Third Amendment and the other
documents executed and delivered in connection herewith and described in this Section and
the true signatures of such officer or officers and specifying the officers
authorized to act on behalf of each Loan Party for purposes of the Loan
Documents and the true signatures of such officers, on which the Agent and each
Lender may conclusively rely; and

 

(iii)                               copies
of its organizational documents, including its certificate of incorporation and
bylaws if it is a corporation, its certificate of partnership and partnership
agreement if it is a partnership, and its certificate of organization and
limited liability company operating agreement if it is a limited liability
company, in each case as

 

5

 

in effect on the date hereof, certified by the appropriate state
official where such documents are filed in a state office together with
certificates from the appropriate state officials as to the continued existence
and good standing of each of the Loan Parties in each state where organized or
qualified to do business, provided, however, that the Loan Parties may, in lieu of delivering
copies of the foregoing organizational documents and good standing
certificates, certify that the organizational documents and good standing
certificates previously delivered by the Loan Parties to the Agent remain in
full force and effect and have not been modified, amended, or rescinded.

 

(e)                      Officer’s Certificate.  There shall be delivered to the Agent a
certificate of the Loan Parties, dated the date of the Third Amendment and
signed by the Chief Executive Officer, President, Vice President or Chief
Financial Officer of each Loan Party, certifying that:  (i) the representations and warranties
of the Borrower contained in Article 6 of the Credit Agreement shall be
true and accurate on and as of the date of the Third Amendment with the same
effect as though such representations and warranties had been made on and as of
such date (except representations and warranties which relate solely to an
earlier date or time, which representations and warranties shall be true and
correct on and as of the specific dates or times referred to therein); (ii) the
Loan Parties shall have performed and complied with all covenants and
conditions of the Credit Agreement and this Third Amendment; and (iii) no
Event of Default or Potential Default under the Credit Agreement shall have
occurred and be continuing or shall exist.

 

(f)                        Opinion
of Counsel. The Borrower shall cause to be delivered to the Agent an
opinion of counsel of the Borrower with respect to this Third Amendment in such
form as shall be acceptable to the Agent.

 

(g)                     Representations and Warranties;
No Event of Default.  The
representations and warranties contained in Section 6 of the Credit
Agreement and this Third Amendment, and of each Loan Party in each of the other
Loan Documents, are true and correct on and as of the date of this Third
Amendment with the same effect as though such representations and warranties
had been made on and as of such date (except representations and warranties
which relate solely to an earlier date or time, which representations and
warranties were true and correct on and as of the specific dates or times
referred to therein), each of the Loan Parties has performed and complied with
all covenants and conditions hereof and thereof, and no Event of Default or
Potential Default has occurred and is continuing or exists as of the date of
this Third Amendment; and by its execution and delivery of this Third
Amendment, the Borrower and each other Loan Party certifies to each such
effect.

 

(h)                     Payment of Fees.  The Borrower has paid, or caused to be paid,
all fees, costs and expenses payable to the Agent or for which the Agent is
entitled to be reimbursed, including but not limited to (i) the reasonable
fees and expenses of the Agent’s legal counsel and (ii) a closing fee
payable to each Lender equal to five (5) basis points on any existing
Revolving Credit Commitments and twenty-five (25) basis points on any new
Revolving Credit Commitments made in connection with this Third Amendment.

 

6

 

(i)                         Consents.  All material consents required to effectuate
the transactions contemplated by this Third Amendment have been obtained.

 

(j)                         Legal Details.  All legal details and proceedings in
connection with the transactions contemplated by this Third Amendment are in
form and substance satisfactory to the Agent and counsel for the Agent, and the
Agent has received all such other counterpart originals or certified or other
copies of such documents and proceedings in connection with such transactions,
in form and substance satisfactory to the Agent and its counsel, as the Agent
or its counsel may reasonably request.

 

4.                                       Representations
and Warranties.  By its execution and
delivery of this Third Amendment to the Agent, the Borrower and each of the
other Loan Parties represents and warrants to the Agent and the Lenders as
follows:

 

(a)                      Authorization, Etc.  Each Loan Party has duly authorized, executed
and delivered this Third Amendment.

 

(b)                     Material Adverse Change.  After giving effect to this Third Amendment,
no Material Adverse Change shall have occurred with respect to the Borrower or
any of the other Loan Parties since the Closing Date of the Credit Agreement.

 

(c)                      Litigation.  After giving effect to this Third Amendment,
there are no actions, suits, investigations, litigation or governmental
proceedings pending or, to the Borrower’s or any other Loan Party’s knowledge,
threatened against any of the Loan Parties that could reasonably be expected to
result in a Material Adverse Change.

 

5.                                       Miscellaneous.

 

(a)                      Full Force and Effect.  All provisions of the Credit Agreement and
the other Loan Documents remain in full force and effect on and after the date
of this Third Amendment and the date hereof except as expressly amended
hereby.  The parties do not amend any
provisions of the Credit Agreement or any other Loan Document except as
expressly amended hereby.

 

(b)                     Counterparts.  This Third Amendment may be signed in
counterparts (by facsimile transmission or otherwise) but all of which together
shall constitute one and the same instrument.

 

(c)                      Incorporation into Credit
Agreement.  This Third Amendment shall
be incorporated into the Credit Agreement by this reference.  All representations, warranties, Events of
Default and covenants set forth herein shall be a part of the Credit Agreement
as if originally contained therein.

 

(d)                     Governing Law.  This Third Amendment shall be deemed to be a
contract under the Laws of the Commonwealth of Pennsylvania and for all
purposes shall be governed by and 

 

7

 

construed and enforced in accordance with the internal laws of the
Commonwealth of Pennsylvania without regard to its conflict of laws principles.

 

(e)                      No Novation.  Except as amended hereby, all of the terms
and conditions of the Credit Agreement and the other Loan Documents shall
remain in full force and effect.  The
Borrower, the other Loan Parties, each Lender, and the Agent acknowledge and
agree that this Third Amendment is not intended to constitute, nor does it
constitute, a novation, interruption, suspension of continuity, satisfaction,
discharge or termination of the obligations, loans, liabilities, or
indebtedness under the Credit Agreement or the other Loan Documents.

 

[SIGNATURE
PAGES FOLLOW]

 

8

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

IN WITNESS WHEREOF, the parties hereto, by
their officers thereunto duly authorized, have executed this Third Amendment as
of the day and year first above written.

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  RHINO ENERGY LLC, a Delaware limited

  liability company formerly known as “CAM

  Holdings LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A.
  BOONE                             (SEAL)

  
	
   

  	
  Name:

  	
  Richard A.
  Boone

  
	
   

  	
  Title:

  	
  Sr. VP &
  CFO

  
				

 

	
   

  	
  GUARANTORS:

  
	
   

  	
   

  
	
   

  	
  CAM MINING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A.
  Boone

  
	
   

  	
  Title: 

  	
  Sr. VP &
  CFO

  
				

 

 

	
   

  	
  CAM-BB LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A.
  Boone

  
	
   

  	
  Title: 

  	
  Sr. VP &
  CFO

  
				

 

 

	
   

  	
  CAM-KENTUCKY REAL ESTATE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A.
  Boone

  
	
   

  	
  Title:

  	
  Sr. VP &
  CFO

  
				

 

 

[SIGNATURE
PAGE TO THIRD AMENDMENT TO CREDIT AGREEMENT]

 

	
   

  	
  RHINO NORTHERN HOLDINGS LLC,
 formerly known as “CAM-Ohio Holdings LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAM COAL TRADING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LEESVILLE LAND, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAM AIRCRAFT LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOPEDALE MINING LLC, formerly known as

  “CAM-Ohio LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
				

 

 

[SIGNATURE
PAGE TO THIRD AMENDMENT TO CREDIT AGREEMENT]

 

	
   

  	
  CAM-OHIO REAL ESTATE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SPRINGDALE LAND, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CAM-COLORADO LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TAYLORVILLE MINING LLC, formerly known

  as “CAM-Illinois LLC”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CLINTON STONE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  McCLANE CANYON MINING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RHINO COALFIELD SERVICES LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RHINO RECLAMATION SERVICES LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SANDS HILL MINING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RHINO SERVICES LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
				

 

 

[SIGNATURE
PAGE TO THIRD AMENDMENT TO CREDIT AGREEMENT]

 

	
   

  	
  DEANE MINING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RESERVE HOLDINGS LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD A. BOONE

  
	
   

  	
  Name:

  	
  Richard A. Boone

  
	
   

  	
  Title: 

  	
  Sr. VP & CFO

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  LENDERS:

  
	
   

  	
   

  
	
   

  	
  PNC BANK, NATIONAL ASSOCIATION,

  individually and as Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ RICHARD C. MUNSICK

  
	
   

  	
  Name:

  	
  Richard C. Munsick

  
	
   

  	
  Title: 

  	
  Senior Vice President

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ STEPHEN J. HOFFMAN

  
	
   

  	
  Name:

  	
  Stephen J. Hoffman

  
	
   

  	
  Title: 

  	
  Managing Director

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  THE HUNTINGTON NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ L. BLAIR DEVAN

  
	
   

  	
  Name:

  	
  L. Blair DeVan

  
	
   

  	
  Title: 

  	
  Vice President

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  NATIONAL CITY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ DAVID M. METZ

  
	
   

  	
  Name:

  	
  David M. Metz

  
	
   

  	
  Title: 

  	
  Senior Vice President

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  RAYMOND JAMES BANK, FSB, individually

  and as Co-Documentation Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ ANDREW D. HAHN

  
	
   

  	
  Name:

  	
  Andrew D. Hahn

  
	
   

  	
  Title: 

  	
  Senior Vice President

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  ROYAL  BANK OF CANADA.,
  individually and

  as Co-Documentation Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ DON J. MCKINNERNEY

  
	
   

  	
  Name:

  	
  Don J. Mckinnerney

  
	
   

  	
  Title: 

  	
  Authorized Signatory

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

	
   

  	
  UNION BANK OF CALIFORNIA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ BRYAN READ

  
	
   

  	
  Name:

  	
  Bryan Read

  
	
   

  	
  Title: 

  	
  Vice President

  
				

 

 

[SIGNATURE PAGE TO THIRD AMENDMENT TO CREDIT
AGREEMENT]

 

 

	
   

  	
  WACHOVIA  BANK,
  NATIONAL

  ASSOCIATION, individually and as Co-

  Documentation Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ JONATHAN R. RICHARDSON

  
	
   

  	
  Name:

  	
  Jonathan R. Richardson

  
	
   

  	
  Title:

  	
  Senior Vice President

  
				

 

 

SCHEDULE 1.1(B)

 

COMMITMENTS OF LENDERS AND
ADDRESSES FOR NOTICES

 

Part 1 - Commitments of
Lenders and Addresses for Notices to Lenders

 

	
  Lender

  	
   

  	
  Amount of

  Commitment for

  Revolving Credit

  Loans

  	
   

  	
  Ratable Share

  	
   

  
	
  Name: 

  Address:

  

  

  Attention:

  Telephone:

  Telecopy:

  Email:

  	
  Bank of
  America, N.A.

  100 Federal Street

  Mail Code MA5-100-09-08

  Boston, Massachusetts 02110

  Robert Valbona

  (617) 434-3384 

  (617) 434-3652

  robert.d.valbona@bankofamerica.com

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  10.000000000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  Address:

  

  Attention:

  Telephone:

  Telecopy:

  Email:

  	
  The
  Huntington National Bank 

  900 Lee Street - 2nd Floor

  Charleston, West Virginia 25301

  L. Blair DeVan, Vice President

  (304) 348-7138

  (304) 348-5055

  blair.devan@huntington.com

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  10.000000000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  Address:

  

  Attention:

  Telephone:

  Telecopy:

  Email:

  	
  National
  City Bank

  101 South Fifth Street, 31-T37M

  Louisville, Kentucky 40202

  David M. Metz, Senior Vice President

  (502) 581-7631

  (502) 581-6365

  david.metz@nationalcity.com

  	
   

  	
  $

  	
  31,500,000

  	
   

  	
  15.75000000000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  Address:

  

  

  Attention:

  

  Telephone:

  Telecopy:

  Email:

  	
  PNC Bank,
  National Association 

  One PNC Plaza

  249 Fifth Avenue

  Pittsburgh, Pennsylvania 15222

  Richard C. Munsick

  Senior Vice President

  (412) 762-4299

  (412) 762-6484 

  richard.munsick@pnc.com

  	
   

  	
  $

  	
  31,500,000

  	
   

  	
  15.75000000000

  	
  %

  

 

 

	
  Name:

  Address:

  

  Attention:

  Telephone:

  Telecopy:

  Email:

  	
  Raymond
  James Bank, FSB 

  710 Carillon Parkway

  St. Petersburg, Florida 33716

  Andrew D. Hahn, Vice President

  (727) 567-7762

  (727) 567-8830

  andrew.hahn@raymondjames.com

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  13.500000000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  Address:

  

  

  Attention:

  Telephone:

  Telecopy:

  Email:

  	
  Royal Bank
  of Canada

  3900 Williams Tower

  2800 Post Oak Boulevard

  Houston, Texas 77056 

  Don McKinnerney

  (713) 403-5607

  (713) 403-5624 

  don.mckinnerney@rbccm.com

  	
   

  	
  $

  	
  16,000,000

  	
   

  	
  8.000000000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  Address:

  

  

  Attention:

  Telephone:

  Telecopy:

  Email:

  	
  Union Bank
  of California, N.A. 

  Energy Capital Services

  445 S. Figueroa Street, 15th Floor

  Los Angeles, California 90071

  Bryan Read, Vice President 

  (213) 236-4128

  (213) 236-4096 

  bryan.read@uboc.com

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  13.500000000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  Address:

  

  Attention:

  

  Telephone:

  Telecopy:

  Email:

  	
  Wachovia
  Bank, National Association 

  201 S. Jefferson Street, 2nd Floor

  Roanoke, Virginia 24011

  Jonathan R. Richardson,

  Vice President

  (540) 563-7691

  (540) 563-6320 

  jonathan.richardson@wachovia.com

  	
   

  	
  $

  	
  27,000,000

  	
   

  	
  13.500000000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  $

  	
  200,000,000

  	
   

  	
  100

  	
  %

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}]]