Document:

EX-10.1

Exhibit 10.1

AMENDMENT NO. 3 TO SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT

THIS AMENDMENT NO. 3 TO SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as
of May 5, 2008 (this “Amendment”), is entered into by Ferrellgas Receivables, LLC, a Delaware
limited liability company (“Seller”), Ferrellgas, L.P., a Delaware limited partnership
(“Ferrellgas”), as initial Servicer (the initial Servicer together with Seller, the “Seller
Parties” and each, a “Seller Party”), JPMorgan Chase Bank, N.A. (“JPMorgan Chase” and, together
with its successors and assigns hereunder that become Committed Purchasers, the “Financial
Institutions”), Falcon Asset Securitization Company, LLC (“Falcon”), as assignee of Jupiter
Securitization Company LLC), Fifth Third Bank (“Fifth Third”), and JPMorgan Chase Bank, N.A., as
agent for the Purchasers hereunder or any successor agent hereunder (together with its successors
and assigns hereunder, the “Agent”) with respect to the Second Amended and Restated Receivables
Purchase Agreement dated as of June 6, 2006 among the parties (as heretofore amended, the “Existing
Agreement”). The Existing Agreement, as amended hereby, is hereinafter referred to as the
“Agreement.” Unless defined elsewhere herein, capitalized terms used in this Amendment shall have
the meanings assigned to such terms in Exhibit I to the Existing Agreement.

WITNESSETH :

WHEREAS, the parties hereto desire to amend the Existing Agreement as hereinafter set
forth;

NOW, THEREFORE, in consideration of the foregoing premises and the mutual agreements herein
contained and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

1. Amendments.

1.1. All references in the Existing Agreement to “Jupiter Securitization Company, LLC” are
hereby replaced with “Falcon Asset Securitization Company, LLC” and all references to “Jupiter,”
either alone, or as part of another defined term, are hereby replaced with “Falcon”.

1.2 Each of the following definitions in the Existing Agreement is hereby amended and restated
in its entirety to read as follows:

“Liquidity Termination Date” means May 4, 2009.

“Purchase Price” means, with respect to any Incremental Purchase of a
Purchaser Interest, the amount paid to Seller for such Purchaser Interest which
shall not exceed the least of (i) the amount requested by Seller in the applicable
Purchase Notice, (ii) the unused portion of the Purchase Limit on the applicable
purchase date and (iii) the excess, if any, of 75% of the Net Asset Interest
Balance on the applicable purchase date over the aggregate outstanding amount of
Aggregate Capital determined as of the date of the most recent Monthly Report or
Weekly Report, as applicable, taking into account such proposed Incremental
Purchase.

1.3 Section 1.1(b) of the Existing Agreement is hereby amended and restated in its entirety to
read as follows:

(b) Not more than once per calendar month, Seller may, upon at least 5
Business Days’ notice to the Agent (who will promptly forward a copy of each
such notice to the Purchasers), terminate in whole or reduce in part,
ratably between the Purchaser Groups (and, within the Falcon Group, ratably
among the Financial Institutions), the unused portion of the Purchase Limit
and the Group Purchase Limits; provided that each partial reduction of the
Purchase Limit shall be in an amount equal to $5,000,000 or an integral
multiple thereof. Each decrease in the Purchase Limit shall decrease (A)
the aggregate Commitments by a like amount, which aggregate decrease shall
be apportioned amongst the various Committed Purchasers’ Commitments ratably
in accordance with their respective Committed Purchaser Percentages, and (B)
the Group Purchase Limits by an amount equal to their respective Percentages
of such decrease. Each notice of a partial decrease in the Purchase Limit
shall be accompanied by an updated version of Schedule A hereto bearing the
effective date of such increase or decrease.

1.4 Section 8.5(b) of the Existing Agreement is hereby amended and restated in its entirety to
read as follows:

(b) In addition to the Monthly Reports and other reports required
under Section 8.5(a), on Tuesday of each week, or if any such day is not a
Business Day, on the next succeeding Business Day (each, a “Weekly Reporting
Date”), the Servicer shall prepare and forward to the Agent a Weekly Report
as of the last Business Day of the week then most recently ended.

1.5. Section 9.1(k) of the Existing Agreement is hereby amended and restated in its entirety
to read as follows:

(k) As of the last day of any Measurement Period ending during the periods specified in
the table below, the average of the three Measurement Periods then most recently ended for
the Outstanding Balance of all Receivables included in the Purchaser Interests (regardless
of whether they are Eligible Receivables on the date of determination) as to which any
payment, or part thereof, remains unpaid for 91 days or more from the original due date for
such payment shall exceed the percentage specified in the table below opposite such period:

	 	 	 	 	 
	 
	 	Applicable
	Period in Which Measurement Period Ends
	 	Percentage
	 
	 	 	 	 
	May or December, 2008
	 	 	20.00	%
	 
	 	 	 	 
	June, October or November, 2008
	 	 	25.00	%
	 
	 	 	 	 
	July, 2008
	 	 	27.00	%
	 
	 	 	 	 
	August or September, 2008
	 	 	29.00	%
	 
	 	 	 	 
	At all other times
	 	 	16.50	%
	 
	 	 	 	 

1.6 Section 10.3 of the Existing Agreement is hereby amended to insert after “on demand” in
each place where it appears the following:

(and, in the absence of demand, within 45 days after presentation of an invoice
therefor setting forth in reasonable detail the basis for the fees and charges
therein).

1.7 Schedule A to the Existing Agreement is hereby amended and restated in its entirety to
read as set forth in Schedule A hereto.

2. Representations and Warranties. In order to induce the other parties hereto to
enter into this Amendment, each of the Buyer and the Originator hereby represents and warrants to
each of the other parties hereto as follows:

(a) The execution and delivery by such party of this Amendment, and the performance of
its obligations under the Agreement as amended hereby, are within such party’s
organizational powers and authority and have been duly authorized by all necessary
organizational action on its part;

(b) This Amendment has been duly executed and delivered by such party, and the
Agreement, as amended hereby, constitutes such party’s legal, valid and binding obligation,
enforceable against such party in accordance with its terms, except as such enforcement may
be limited by applicable bankruptcy, insolvency, reorganization or other similar laws
relating to or limiting creditors’ rights generally and by general principles of equity
(regardless of whether enforcement is sought in a proceeding in equity or at law), and

(c) As of the date hereof, no event has occurred and is continuing that will constitute
a Termination Event or a Potential Termination Event.

3. Conditions Precedent. This Amendment shall become effective as of the date first
above written upon delivery to the Agent of each of the following:

(a) counterparts hereof, duly executed by each of the parties hereto;

(b) counterparts of an amendment and restatement of the Purchasers’ Fee Letter, duly
executed by each of the parties thereto; and

(c) counterparts of Amendment No. 4 to Amended and Restated Receivable Interest Sale
Agreement, duly executed by each of the parties thereto.

4. Miscellaneous.

(a) CHOICE OF LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH
THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK.

(b) Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which when taken together shall constitute one and the same agreement.

(c) Ratification of Agreement. Except as expressly amended hereby, the Agreement
remains unaltered and in full force and effect and is hereby ratified and confirmed.

<Signature pages follow>

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered
by their duly authorized officers as of the date hereof.

FERRELLGAS RECEIVABLES, LLC

By:

Name:

Title:

FERRELLGAS, L.P.

By: Ferrellgas, Inc., its General Partner

By:

Name:

Title:

1

FALCON ASSET SECURITIZATION COMPANY, LLC

By: JPMorgan Chase Bank, N.A., as attorney-in-fact

By:

Trisha Lesch, Vice President

JPMORGAN CHASE BANK, N.A.,

Individually as a Financial Institution and as Agent

By:

Trisha Lesch, Vice President

2

FIFTH THIRD BANK

By:  

Robert Finley, Vice President and Manager

3

Schedule A to Amendment

SCHEDULE A

COMMITMENTS

As of May 5, 2008

	 	 	 	 	 
	Committed Purchaser	 	Commitment
	JPMorgan Chase Bank, N.A.
	 	$	80,000,000	 
	Fifth Third Bank
	 	$	80,000,000	 

4EX-10.2

exhibit 10.2

AMENDMENT NO. 4 TO AMENDED AND RESTATED RECEIVABLE INTEREST SALE AGREEMENT

THIS AMENDMENT NO. 4 TO AMENDED AND RESTATED RECEIVABLE INTEREST SALE AGREEMENT, dated as of
May 5, 2008 (this “Amendment”), is entered into by Ferrellgas, L.P., a Delaware limited partnership
(“Originator”), and Ferrellgas Receivables, LLC, a Delaware limited liability company (“Buyer”),
and pertains to the Amended and Restated Receivables Interest Sale Agreement dated as of June 7,
2005 between Originator and Buyer (as heretofore amended, the “Existing Agreement”). The Existing
Agreement, as amended hereby, is hereinafter referred to as the “Agreement.” Unless defined
elsewhere herein, capitalized terms used in this Amendment shall have the meanings assigned to such
terms in Exhibit I to the Existing Agreement.

W I T N E S S E T H :

WHEREAS, the parties hereto desire to amend the Existing Agreement as hereinafter set
forth; and

WHEREAS, the Agent, on behalf of the Purchasers, is willing to consent to such
amendment;

NOW, THEREFORE, in consideration of the foregoing premises and the mutual agreements herein
contained and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

1. Amendments.

(a) Clause E in the Preliminary Statements recited at the beginning of the Existing Agreement
is hereby amended and restated in its entirety to read as follows:

E. From time to time after the date hereof, Buyer will sell undivided interests
in the Receivable Interest and the Contributed Interest pursuant to that certain
Second Amended and Restated Receivables Purchase Agreement dated as of June 7, 2005
(as the same may from time to time hereafter be amended, supplemented, restated or
otherwise modified, the “Purchase Agreement”) among Buyer, as seller, Originator, as
initial Servicer, Falcon Asset Securitization Company, LLC (“Conduit”), Fifth Third
Bank (“Fifth Third”), JPMorgan Chase Bank, N.A. (together with Fifth Third, Conduit
and their respective successor and permitted assigns, the “Purchasers”), and
JPMorgan Chase Bank, N.A. or any successor agent appointed pursuant to the terms of
the Purchase Agreement, as agent for the Purchasers (in such capacity, the “Agent”).

(b) Paragraph (o) of Section 7.1 of the Existing Agreement is amended by substituting
“$53,000,000” for “$40,000,000.”

(c) The definition of “Adjusted Pool Amount” in Exhibit I to the Existing Agreement is hereby
amended and restated in its entirety to read as follows:

“Adjusted Pool Amount” means, on any date of determination, an amount equal to
the quotient of the Funded Amount divided by 0.75.

2. Representations and Warranties. In order to induce the other parties hereto to
enter into this Amendment, each of the Buyer and the Originator hereby represents and warrants to
each of the other parties hereto as follows:

(a) The execution and delivery by such party of this Amendment, and the performance of
its obligations under the Agreement and the Subordinated Note, are within such party’s
organizational powers and authority and have been duly authorized by all necessary
organizational action on its part;

(b) This Amendment has been duly executed and delivered by such party, and the
Agreement and, in the case of the Buyer, the Subordinated Note, constitute such party’s
legal, valid and binding obligations, enforceable against such party in accordance with its
terms, except as such enforcement may be limited by applicable bankruptcy, insolvency,
reorganization or other similar laws relating to or limiting creditors’ rights generally and
by general principles of equity (regardless of whether enforcement is sought in a proceeding
in equity or at law), and

(c) As of the date hereof, no event has occurred and is continuing that will constitute
a Termination Event or a Potential Termination Event.

3. Conditions Precedent. This Amendment shall become effective as of the date first
above written upon execution by the Originator, the Buyer and the Agent of counterparts hereof and
delivery of such executed counterparts to the Agent.

4. Miscellaneous.

(a) CHOICE OF LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH
THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF TEXAS.

(b) Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which when taken together shall constitute one and the same agreement.

(c) Ratification of Agreement. Except as expressly amended hereby, the Agreement and
the Subordinated Note remain unaltered and in full force and effect and is hereby ratified and
confirmed.

<Signature pages follow>

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered
by their duly authorized officers as of the date hereof.

FERRELLGAS, L.P.

By: Ferrellgas, Inc., its General Partner

By: 

Name:

Title:

FERRELLGAS RECEIVABLES, LLC

By:

Name:

Title:

By its signature below, the Agent, on behalf of the Purchasers, hereby consents to the foregoing
Amendment as of the date first above written:

JPMORGAN CHASE BANK, N.A., as Agent

By:

Trisha Lesch, Vice President

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