Document:

Letter Amendment (to Fourth Amended and Restated Credit Agreement)

 Exhibit 10.2 

July 15, 2010         

GeoMet, Inc. 
 909 Fannin 

Suite 1850 Houston, TX 
 77002 Attention: Steve
Smith 
  

	 	Re:	Fourth Amended and Restated Credit Agreement dated June 3, 2010 (the “Fourth A&R Credit Agreement”) among GeoMet, Inc.
(“Borrower”), Bank of America, N.A., as Administrative Agent (“Administrative Agent”), and the lenders party thereto (the “Banks”). Unless otherwise defined herein, all capitalized terms used herein
which are defined in the Fourth A&R Credit Agreement shall have the meaning given such terms in the Fourth A&R Credit Agreement. 

Ladies and Gentlemen: 
 1. Extension
Request. The Fourth A&R Credit Agreement provides that in order for such agreement to become effective the completion of the conditions precedent set forth in Section 6.1 thereof, including, without limitation, the condition that the
issuance of the Convertible Preferred Equity has occurred, must be satisfied or waived pursuant to Section 14.2 of the Fourth A&R Credit Agreement on or prior to August 16, 2010. Borrower has informed Administrative Agent that it will
be unable to complete the issuance of the Convertible Preferred Equity by August 16, 2010 and requests that the Banks extend the deadline to complete the conditions precedent set forth in Section 6.1 thereof, including, without limitation,
the condition that the issuance of the Convertible Preferred Equity has occurred, to October 1, 2010. 
 2. Amendment to Fourth A&R
Credit Agreement. For and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, and in reliance on the representations, warranties covenants and agreements contained in this letter
agreement (this “Letter Agreement”), but subject to the satisfaction of each condition precedent set forth in Paragraph 3 hereof, Administrative Agent, the Banks and Borrower hereby agree to amend the Fourth A&R
Credit Agreement by deleting the references to “August 16, 2010” in Section 6.1 and the second paragraph of the recitals thereof and replacing such references with references to “October 1, 2010”. 

3. Conditions Precedent to Effectiveness. This Letter Agreement shall be effective as of the date when the following conditions precedent have
been satisfied: 
  

	 	(a)	The requisite shareholders of Borrower, as required by Borrower’s governing documents, have approved on or before July 31, 2010 the issuance of the
Convertible Preferred Equity; and 

  

	 	(b)	Administrative Agent shall have received counterparts of this Letter Agreement executed on behalf of Borrower and each Bank. 

4. Miscellaneous. 
  

	 	(a)	Borrower hereby represents and warrants that each representation and warranty of Borrower and the other Credit Parties contained in the Fourth A&R Credit Agreement
and each of the other Loan Papers is true and correct on the date hereof. 

  

	 	(b)	Borrower hereby agrees to pay on demand all reasonable fees and expenses of counsel to Administrative Agent incurred by Administrative Agent in connection with the
preparation, negotiation and execution of this Letter Agreement and all related documents. 

 GeoMet, Inc. 

July 15, 2010 
 Page 2 

 

	 	(c)	This Letter Agreement may be executed in counterparts, and all parties need not execute the same counterpart. Facsimiles shall be effective as originals.

  

	 	(d)	THIS LETTER AGREEMENT REPRESENTS THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

  

	 	(e)	This Letter Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

 

	 	(f)	This Letter Agreement constitutes a “Loan Paper” under and as defined in the Fourth A&R Credit Agreement. 

 

	 	(g)	Nothing contained in this Letter Agreement shall be deemed a consent, waiver or extension of any other action or inaction of Borrower other than as expressly provided
in Section 1 hereof. No Bank nor Administrative Agent shall be obligated to grant any future waiver, consent, extension or amendment with respect to the Fourth A&R Credit Agreement or any other Loan Paper. 

If you are in agreement with the foregoing, please execute this Letter Agreement in the space provided below and return an executed
counterpart of this Letter Agreement to Vinson & Elkins LLP, counsel to Administrative Agent, at 2001 Ross Avenue, Suite 3700, Dallas, Texas 75201, Attention: Jason McInnes (phone 214.220.7783; fax 214.999.7783). 

[Signature Page Follows] 

			
	Very truly yours,
	
	 BANK OF AMERICA, N.A.,

as Administrative Agent

		
	By:	 	 /s/ Renita M. Cummings

		 	Renita M. Cummings
		 	Assistant Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT 

 Accepted and Agreed 

as of July 15, 2010 
 BORROWER:

 GEOMET, INC., 
 a
Delaware Corporation 
  

			
	By:	 	 /s/ William C. Rankin

	Name:	 	 William C. Rankin

	Title:	 	 EVP & CFO

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT 

							
	BANKS:	 		 	BANK OF AMERICA, N.A.
				
		 		 	By:	 	 /s/ Jeffrey H. Rathkamp

		 		 		 	Jeffrey H. Rathkamp
		 		 		 	Managing Director

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	BNP PARIBAS
		
	By:	 	 /s/ Polly Schott

	Name:	 	 Polly Schott

	Title:	 	 Director

		
	By:	 	 /s/ Edward Pak

	Name:	 	 Edward Pak

	Title:	 	 Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	BANK OF SCOTLAND
		
	By:	 	 /s/ Julia R. Franklin

	Name:	 	 Julia R. Franklin

	Title:	 	 Assistant Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ John C. Lozano

	Name:	 	 John C. Lozano

	Title:	 	 Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	STERLING BANK
		
	By:	 	 /s/ David W. Phillips

	Name:	 	 David W. Phillips

	Title:	 	 Senior Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT 

 The undersigned (i) consents and agrees to this Letter Agreement, and (ii) agrees
that the Loan Papers to which it is a party shall remain in full force and effect and shall continue to be the legal, valid and binding obligation of the undersigned, enforceable against it in accordance with its terms. 

 

			
	CONSENTED, ACKNOWLEDGED AND AGREED TO BY:
	
	 GEOMET GATHERING COMPANY, LLC,

an Alabama limited liability company

		
	By:	 	 /s/ William C. Rankin

	Name:	 	 William C. Rankin

	Title:	 	 EVP & CFO

	
	 GEOMET OPERATING COMPANY, INC.,

an Alabama corporation

		
	By:	 	 /s/ William C. Rankin

	Name:	 	 William C. Rankin

	Title:	 	 EVP & CFO

ACKNOWLEDGEMENT PAGE TO LETTER AGREEMENT TO

 FOURTH AMENDED AND RESTATED CREDIT
AGREEMENTLetter Amendment (to Third Amended and Restated Credit Agreement)

 Exhibit 10.3 

July 15, 2010         

GeoMet, Inc. 
 909 Fannin 

Suite 1850 
 Houston, TX 77002 

Attention: Steve Smith 
  

	 	Re:	Third Amended and Restated Credit Agreement dated June 9, 2006 (as amended and supplemented from time to time, the “Existing Credit Agreement”)
among GeoMet, Inc. (“Borrower”), Bank of America, N.A., as Administrative Agent (“Administrative Agent”), and the lenders party thereto on the date hereof (the “Existing Banks”). Unless otherwise
defined herein, all capitalized terms used herein which are defined in the Existing Credit Agreement shall have the meaning given such terms in the Existing Credit Agreement. 

Ladies and Gentlemen: 
 1. Extension
Request. Borrower, Administrative Agent and the Existing Banks have entered into that certain Fourth Amended and Restated Credit Agreement dated June 3, 2010 (as amended, the “Fourth A&R Credit Agreement”). The Fourth
A&R Credit Agreement provides that in order for such agreement to become effective the completion of the conditions precedent set forth in Section 6.1 of the Fourth A&R Credit Agreement, including, without limitation, the condition that
the issuance of the Convertible Preferred Equity (as defined in the Fourth A&R Credit Agreement) has occurred and the net proceeds thereof have been used to repay obligations owing under the Existing Credit Agreement, must be satisfied on or
prior to August 16, 2010 (the “CP Deadline”). By separate letter agreement on even date herewith Borrower has requested that the CP Deadline be extended to October 1, 2010. Prior to the effectiveness of the Fourth A&R
Credit Agreement, the Existing Credit Agreement remains in full force and effect and pursuant to that certain Letter Agreement to Third Amended and Restated Credit Agreement dated June 3, 2010 by and among Borrower, Administrative Agent and the
Existing Banks, the Existing Banks agreed not to exercise their right of assignment under Section 14.8(c) of the Existing Credit Agreement or otherwise until the earlier of the Effective Date (as defined in the Fourth A&R Credit Agreement)
and August 16, 2010 
 In connection with the extension of the CP Deadline, Borrower hereby requests that the Existing
Banks agree to extend (a) the Termination Date to October 1, 2011 and (b) the suspension of any assignments under Section 14.8(c) of the Existing Credit Agreement until October 1, 2010. 

2. Amendment to Existing Credit Agreement. For and in consideration of the mutual covenants and agreements herein contained and other good and
valuable consideration, and in reliance on the representations, warranties covenants and agreements contained in this letter agreement (this “Letter Agreement”), but subject to the satisfaction of each condition precedent set forth
in Paragraph 3 hereof, Administrative Agent, the Banks and Borrower hereby agree that (a) the definition of Termination Date shall be amended to replace the reference to “May 6, 2011” set forth therein with a reference to
“October 1, 2011”, (b) between July 15, 2010 and the earlier of (i) October 1, 2010, (ii) the Effective Date (as defined in the Fourth A&R Credit Agreement) and (iii) the date of any press release or other
public disclosure by Borrower that it has abandoned or terminated the issuance of the Convertible Preferred Equity (as defined in the Fourth A&R Credit Agreement), no Existing Bank may assign all or any portion of its rights and obligations
under the Loan Papers without the prior written consent of Administrative Agent and Borrower; provided, that no consent or approval shall be required from Administrative Agent or Borrower, respectively, to give effect to a pledge or
assignment by any Existing Bank of a security interest in all or any portion of the rights of such Existing Bank under the Existing Credit Agreement to the Federal Reserve Bank or any other similar Governmental Authority, and (c) the Scheduled
Determination Date set for June 15, 2010 shall be extended to October 15, 2010. 

 GeoMet, Inc. 

July 15, 2010 
 Page 2 

3. Conditions Precedent to Effectiveness. This Letter Agreement shall be effective as of the date when the following conditions precedent have
been satisfied: 
  

	 	(a)	The requisite shareholders of Borrower, as required by Borrower’s governing documents, have approved on or before July 31, 2010 the issuance of the
Convertible Preferred Equity (as defined in the Fourth A&R Credit Agreement); 

  

	 	(b)	Administrative Agent shall have received counterparts of this Letter Agreement executed on behalf of Borrower and each Bank; 

 

	 	(c)	Administrative Agent shall have received an executed legal opinion from Thompson & Knight L.L.P. as counsel to the Credit Parties with respect to this Letter
Agreement, such legal opinion to be in form and substance reasonably satisfactory to the Administrative Agent; and 

  

	 	(d)	No Default or Event of Default shall have occurred which is continuing and no Borrowing Base Deficiency shall exist. 

4. Miscellaneous. 
  

	 	(a)	Borrower hereby represents and warrants that as of the date of this Letter Agreement, (i) no Default or Event of Default has occurred which is continuing,
(ii) no Borrowing Base Deficiency exists, and (iii) neither Borrower nor any other Credit Party has any defense to (A) the obligation to pay the Obligations when due, or (B) the validity, enforceability or binding effect against
Borrower or any other Credit Party of the Existing Credit Agreement or any of the other Loan Papers (to the extent a party thereto) or any Liens intended to be created thereby. 

 

	 	(b)	Borrower hereby represents and warrants that each representation and warranty of Borrower and the other Credit Parties contained in the Existing Credit Agreement and
each of the other Loan Papers is true and correct on the date hereof. 

  

	 	(c)	Borrower hereby agrees to pay on demand all reasonable fees and expenses of counsel to Administrative Agent incurred by Administrative Agent in connection with the
preparation, negotiation and execution of this Letter Agreement and all related documents. 

  

	 	(d)	This Letter Agreement may be executed in counterparts, and all parties need not execute the same counterpart. Facsimiles shall be effective as originals.

  

	 	(e)	THIS LETTER AGREEMENT REPRESENTS THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

  

	 	(f)	This Letter Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

 GeoMet, Inc. 

July 15, 2010 
 Page 3 

 

	 	(g)	This Letter Agreement constitutes a “Loan Paper” under and as defined in the Existing Credit Agreement. 

 

	 	(h)	Nothing contained in this Letter Agreement shall be deemed a consent, waiver or extension of any other action or inaction of Borrower other than as expressly provided
in Section 1 hereof. No Bank nor Administrative Agent shall be obligated to grant any future waiver, consent, extension or amendment with respect to the Existing Credit Agreement or any other Loan Paper. 

If you are in agreement with the foregoing, please execute this Letter Agreement in the space provided below and return an executed
counterpart of this Letter Agreement to Vinson & Elkins LLP, counsel to Administrative Agent, at 2001 Ross Avenue, Suite 3700, Dallas, Texas 75201, Attention: Jason McInnes (phone 214.220.7783; fax 214.999.7783). 

[Signature Page Follows] 

			
	 Very truly yours,

	
	 BANK OF AMERICA, N.A.,

as Administrative Agent

		
	By:	 	 /s/ Renita M. Cummings

		 	Renita M. Cummings
		 	Assistant Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 

 Accepted and Agreed 

as of July 15, 2010 
 BORROWER:

 GEOMET, INC., 
 a
Delaware Corporation 
  

			
	By:	 	 /s/ William C. Rankin

	Name:	 	 William C. Rankin

	Title:	 	 EVP & CFO

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 

							
	BANKS:	 		 	BANK OF AMERICA, N.A.
				
		 		 	By:	 	 /s/ Jeffrey H. Rathkamp

		 		 		 	Jeffrey H. Rathkamp
		 		 		 	Managing Director

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	BNP PARIBAS
		
	By:	 	 /s/ Polly Schott

	Name:	 	 Polly Schott

	Title:	 	 Director

		
	By:	 	 /s/ Edward Pak

	Name:	 	 Edward Pak

	Title:	 	 Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	BANK OF SCOTLAND
		
	By:	 	 /s/ Julia R. Franklin

	Name:	 	 Julia R. Franklin

	Title:	 	 Assistant Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ John C. Lozano

	Name:	 	 John C. Lozano

	Title:	 	 Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 

			
	STERLING BANK
		
	By:	 	 /s/ David W. Phillips

	Name:	 	 David W. Phillips

	Title:	 	 Senior Vice President

SIGNATURE PAGE TO LETTER AGREEMENT TO 

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT 

 The undersigned (i) consents and agrees to this letter, and (ii) agrees that the
Loan Papers to which it is a party (including, without limitation, the Facility Guaranty dated as of June 9, 2006 or January 1, 2007, as applicable) shall remain in full force and effect and shall continue to be the legal, valid and
binding obligation of the undersigned, enforceable against it in accordance with its terms. 
  

			
	CONSENTED, ACKNOWLEDGED AND AGREED TO BY:
	
	 GEOMET GATHERING COMPANY, LLC,

an Alabama limited liability company

		
	By:	 	 /s/ William C. Rankin

	Name:	 	 William C. Rankin

	Title:	 	 EVP & CFO

	
	 GEOMET OPERATING COMPANY, INC.,

an Alabama corporation

		
	By:	 	 /s/ William C. Rankin

	Name:	 	 William C. Rankin

	Title:	 	 EVP & CFO

ACKNOWLEDGEMENT PAGE TO LETTER AGREEMENT TO

 THIRD AMENDED AND RESTATED CREDIT
AGREEMENT

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