Document:

EX-10.3

 

Delek Marketing & Supply, LP

Second Amendment To Credit Agreement

     This Second Amendment to Credit Agreement (herein, the “Amendment”) is entered into as of July
27, 2007, by and among Delek Marketing & Supply, LP, a Delaware limited partnership (the
“Borrower”) and Fifth Third Bank, an Ohio banking corporation, as Lender, Administrative Agent, and
L/C Issuer.

Preliminary Statements

     A. The Borrower and Fifth Third Bank, as Lender, Administrative Agent, and L/C Issuer entered
into a certain Credit Agreement, dated as of July 31, 2006 (such Credit Agreement as the same has
been previously amended, the “Credit Agreement”). All capitalized terms used herein without
definition shall have the same meanings herein as such terms have in the Credit Agreement.

     B. The Borrower and Fifth Third Bank have agreed to amend the Credit Agreement under the terms
and conditions set forth in this Amendment.

     Now, Therefore, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:

Section 1. Amendment to Credit Agreement.

     Upon satisfaction of the conditions precedent set forth in Section 2 hereof, the definition of
“Termination Date” appearing in Section 1.1 of the Credit Agreement shall be and hereby is amended
and restated in its entirety to read as follows:

“Termination Date” means January 31, 2008, or such earlier date on
which the Commitments are terminated in whole pursuant to Section
2.9, 7.2 or 7.3 hereof.

Section 2. Conditions Precedent.

     The effectiveness of this Amendment is subject to the satisfaction of all of the following
conditions precedent:

     (a) The Borrower and Fifth Third Bank shall have executed and delivered this Amendment.

     (b) Legal matters incident to the execution and delivery of this Amendment shall be
satisfactory to the Administrative Agent and its counsel.

 

 

Section 3. Representations and Warranties.

     The Borrower represents and warrants to Fifth Third Bank that (i) each of the representations
and warranties set forth in Section 5 of the Credit Agreement is true and correct in all material
respects on and as of the date of this Amendment after giving effect to this Amendment as if made
on and as of the date hereof (except to the extent such representation relates and warrants relate
to an earlier date, in which case they are true and correct in all material respects as of such
date) and as if each reference therein to the Credit Agreement referred to the Credit Agreement as
amended hereby; (ii) as of the date hereof, no Default and no Event of Default exists; and (iii)
without limiting the effect of the foregoing, the Borrower’s execution, delivery and performance of
this Amendment has been duly authorized, and this Amendment has been executed and delivered by duly
authorized officers of the Borrower.

Section 4. Collateral.

     The Borrower has heretofore executed and delivered to the Administrative Agent the Collateral
Documents and the Borrower hereby agrees that notwithstanding the execution and delivery of this
Amendment, the Collateral Documents shall remain in full force and effect and shall secure the
Obligations, Hedging Liability and Funds Transfer and Deposit Account Liability; and the rights and
remedies of the Lenders under the Collateral Documents, obligations of the Borrower thereunder, and
any liens or security interests created or provided for thereunder shall be and remain in full
force and effect and shall not be affected, impaired or discharged hereby. Nothing herein
contained shall in any manner affect or impair the priority of the liens and security interests
created and provided for by the Collateral Documents as to the indebtedness that would be secured
thereby prior to giving effect to this Amendment.

Section 5. Miscellaneous.

     (a) Except as specifically amended herein, the Credit Agreement shall continue in full force
and effect in accordance with its original terms. Reference to this specific Amendment need not be
made in the Credit Agreement or any other Loan Document, or in any certificate, letter or
communication issued or made pursuant to or with respect to any Loan Document, any reference in any
of such items to the Credit Agreement being sufficient to refer to the Credit Agreement as amended
hereby.

     (b) The Borrower agrees to pay on demand all costs and expenses of or incurred by the
Administrative Agent in connection with the negotiation, preparation, execution and delivery of
this Amendment, including the reasonable fees and expenses of counsel for the Administrative Agent.

     (c) This Amendment may be executed in any number of counterparts and by different parties
hereto on separate counterpart signature pages, each of which when so executed shall be an original
but all of which shall constitute one and the same instrument. This Amendment shall be governed by
the internal laws of the State of New York.

[Signature Pages to Follow]

-2-

 

     In Witness Whereof, the parties hereto have caused their duly authorized officers to
execute and deliver this Second Amendment to Credit Agreement as of the date first set forth above.

	 	 	 	 	 
	 	“Borrower”

Delek Marketing & Supply, LP

By: Delek Marketing GP, LLC, its
general partner

 	 
	 	By  	/s/  Edward Morgan
 	 
	 	 	Name  	Edward Morgan 	 
	 	 	Title  	Vice President and Chief
Financial Officer 	 
	 
	 	By  	                                                  /s/  John Colling, Jr.
 	 
	 	 	Name  	John Colling, Jr. 	 
	 	 	Title  	Vice President and Treasurer 	 
	 
	 	“Lender”

Fifth Third Bank, an Ohio banking

corporation, as a Lender, as L/C

Issuer, and as Administrative Agent

 	 
	 	By  	/s/  John K. Perez
 	 
	 	 	Name  	John K. Perez 	 
	 	 	Title  	Vice President 	 
	 

[Signature page to Second Amendment to Credit Agreement]

 

 

Reaffirmation and Consent of Guarantors

     Each of the undersigned heretofore executed and delivered to the Administrative Agent, for the
benefit of Lenders, a Guaranty Agreement dated as of July 31, 2006 (the “Guaranty”). Each of the
undersigned hereby consents to the Second Amendment to Credit Agreement as set forth above as of
the date of such amendment and confirms that its Guaranty and all its obligations thereunder remain
in full force and effect. Each of the undersigned further agrees that its consent to any further
amendments, waivers or consents in connection with the Credit Agreement shall not be required as a
result of this consent having been obtained. Each of the undersigned acknowledges that Fifth Third
Bank is relying on the assurances provided herein in entering into the Second Amendment to Credit
Agreement set forth above.

	 	 	 	 	 
	 	“Guarantors”

Delek US Holdings, Inc.

 	 
	 	By  	/s/  Edward Morgan
 	 
	 	 	Name  	Edward Morgan 	 
	 	 	Title  	Vice President and Chief
Financial Officer 	 
	 
	 	By  	                                                  /s/  John Colling, Jr.
 	 
	 	 	Name  	John Colling, Jr. 	 
	 	 	Title  	Vice President and Treasurer 	 
	 
	 	Delek Marketing & Supply, Inc.

 	 
	 	By  	/s/  Edward Morgan
 	 
	 	 	Name  	Edward Morgan 	 
	 	 	Title  	Vice President and Chief Financial Officer 	 
	 
	 	By  	                                                  /s/  John Colling, Jr.
 	 
	 	 	Name  	John Colling, Jr. 	 
	 	 	Title  	Vice President and Treasurer 	 
	 
	 	Delek Marketing GP, LLC

 	 
	 	By  	/s/  Edward Morgan
 	 
	 	 	Name  	Edward Morgan 	 
	 	 	Title  	Vice President and Chief Financial Officer 	 
	 
	 	By  	                                                  /s/  John Colling, Jr.
 	 
	 	 	Name  	John Colling, Jr. 	 
	 	 	Title  	Vice President and Treasurer 	 
	 

[Signature page to Reaffirmation and Consent of Guarantors]EX-10.4

 

EXECUTION COPY

FIRST AMENDMENT

          FIRST AMENDMENT, dated as of August 20, 2007 (this “Amendment”), to the Credit
Agreement, dated as of March 30, 2007 (as heretofore amended, supplemented or otherwise modified,
the “Credit Agreement”), among DELEK US HOLDINGS, INC., a Delaware corporation (the
“Borrower”), the several banks and other financial institutions or entities from time to
time parties thereto (the “Lenders”), LEHMAN COMMERCIAL PAPER INC., as administrative agent
(the “Administrative Agent”), LEHMAN BROTHERS INC., as arranger and joint bookrunner, and
JPMorgan Chase Bank, N.A. as documentation agent.

WITNESSETH:

          WHEREAS, pursuant to the Credit Agreement, the Lenders have made an interim loan credit
facility available to the Borrower on the terms set forth in the Credit Agreement;

          WHEREAS, the Borrower has requested that the Lenders agree to amend certain provisions of the
Credit Agreement; and

          WHEREAS, the Lenders have agreed to amend the Credit Agreement solely on the terms and
conditions set forth herein;

          NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows:

          Section 1. Defined Terms. Unless otherwise defined herein, capitalized terms which are
defined in the Credit Agreement are used herein as defined therein.

          Section 2. Amendment to Section 6.4. Section 6.4 of the Credit Agreement is hereby amended by
deleting the section in its entirety and replacing it with the following:

     6.4 Limitation on Fundamental Changes. Enter into any merger, consolidation or
amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or
dissolution), or Dispose of all or substantially all of its Property or business, or acquire
by purchase or otherwise (other than purchases or other acquisitions of inventory, materials
and equipment and capital expenditures in the ordinary course of business) the business, or
stock or other evidence of beneficial ownership of, any Person or business unit of any
Person, except that:

     (a) any Subsidiary of the Borrower may be merged or consolidated with or into the
Borrower (provided that the Borrower shall be the continuing or surviving
corporation);

     (b) any Subsidiary of the Borrower may Dispose of any or all of its assets (upon
voluntary liquidation or otherwise) to the Borrower; and

 

 

2

     (c) the Borrower may acquire in one or more transactions and at different times (x)
shares of Lion Oil Company from TransMontaigne Inc., a subsidiary of Morgan Stanley Capital
Group Inc., and six other Lion Oil shareholders by paying approximately $65.4 million in
cash and issuing approximately 1.9 million of its shares to TransMontaigne Inc. and (y)
additional shares of Lion Oil Company so long as the additional cash consideration does not
exceed $30 million.

          Section 3. Effectiveness. This Amendment shall become effective on the date hereof once the
Administrative Agent shall have received counterparts to this Amendment, duly executed and
delivered by each party hereto.

          Section 4. Continuing Effect. Except as expressly set forth in this Amendment, all of the
terms and provisions of the Credit Agreement and the other Loan Documents are ratified and
confirmed, and are and shall remain in full force and effect, and the Borrower shall continue to be
bound by all of such terms and provisions. The amendment provided for herein is limited as
specified herein and shall not constitute an amendment or waiver of any provision of the Credit
Agreement or the other Loan Documents not expressly referred to herein and shall not be construed
as an amendment, waiver or consent to any action on the part of the Borrower that would require an
amendment, waiver or consent of the Administrative Agent or the Lenders except as expressly stated
herein. Any reference to the “Credit Agreement” in the Loan Documents or any related documents
shall be deemed to be a reference to the Credit Agreement as amended by this Amendment.

          Section 5. Expenses. The Borrower agrees to pay and reimburse the Administrative Agent for
all its reasonable out-of-pocket costs and expenses incurred in connection with the preparation and
delivery of this Amendment, including, without limitation, the reasonable fees and disbursements of
counsel to the Administrative Agent.

          Section 6. Governing Law. This Amendment shall in all respects be governed by and construed
in accordance with the laws of the State of New York.

          Section 7. Counterparts. This Amendment may be signed in any number of counterparts
(including by telecopy), each of which shall constitute an original, but all of which when taken
together shall constitute one instrument.

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by the
respective officers thereunto duly authorized as of the year and date first above written.

	 	 	 	 	 
	 	DELEK US HOLDINGS, INC.

 	 
	 	By  	/s/  Edward Morgan
 	 
	 	 	Name  	Edward Morgan 	 
	 	 	Title  	Vice President and Chief Financial
Officer 	 
	 
	 	By  	/s/  John Colling, Jr.
 	 
	 	 	Name  	John Colling, Jr. 	 
	 	 	Title  	Vice President and Treasurer 	 
	 
	 	 	 
	 	LEHMAN COMMERCIAL PAPER INC.,
as Administrative Agent and Lender

 	 
	 	By  	/s/  Ritam Bhalla
 	 
	 	 	Name  	Ritam Bhalla 	 
	 	 	Title  	Authorized Signatory 	 
	 
	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as Lender

 	 
	 	By  	/s/  Timothy B. Fouts
 	 
	 	 	Name  	Timothy B. Fouts 	 
	 	 	Title  	Senior Vice President 	 
	 

Delek US Holdings, Inc. First Amendment

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}]]