Document:

exhibit 10.84

    
      

    

    Exhibit
      10.84

    

    FOURTH
      AMENDMENT TO

    PURCHASE,
      SALE AND SERVICE AGREEMENT

    FOR
      PROPANE/BUTANE MIX

    KING
      RANCH GAS PLANT

     

    

    This
      Fourth Amendment to Purchase, Sale and Service Agreement for Propane/Butane
      Mix
      (“Fourth Amendment”) is made and entered into, effective March 1, 2006, by and
      between, ExxonMobil Gas & Power Marketing Company (“EMGPM”), a division of
      Exxon Mobil Corporation, a New Jersey corporation, and Penn Octane Corporation
      (“POC”), a Delaware corporation.

    

    Recitals:

    

    WHEREAS,
      Exxon Company, USA (a division of Exxon Corporations) and Penn Octane
      Corporation entered into that certain Purchase, Sale and service agreement
      for
      Propane/butane Mix (“Original Agreement”) dated October 1, 1999;
      and

    

    WHEREAS,
      effective November 30, 1999, Exxon Corporation changed its name to Exxon Mobil
      Corporation and the stewardship of the Original Agreement was transferred to
      ExxonMobil Gas Marketing Company. Subsequently, ExxonMobil Gas Marketing Company
      changed its name to ExxonMobil Gas & Power Marketing Company (“EMGPM”),
      and

    

    WHEREAS,
      EMGPM and POC amended the Original Agreement by that certain First Amendment
      to
      Purchase, Sale and Service Agreement for Propane/Butane Mix, dated effective
      January 20, 2000, and

    

    WHEREAS,
      EMGPM and POC amended the Original Agreement by that certain Second Amendment
      to
      Purchase, Sale and Service Agreement for Propane/Butane Mix, dated effective
      February 29, 2000, and

    

    WHEREAS,
      EMGPM and POC amended the Original Agreement by that certain Third Amendment
      to
      Purchase, Sale and Service Agreement for Propane/Butane Mix, dated effective
      April 1, 2005, and

    

    Agreements:

    

    NOW,
      THEREFORE, in consideration of the mutual benefits of the Parties as set out
      in
      this Amendment and other good and valuable consideration, the receipt and
      sufficiency of which is hereby acknowledged, the Parties agree as
      follows:

    

    Terms
      used as defined terms herein shall have the meaning ascribed to them in the
      Original Agreement, unless otherwise indicated herein.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      10.84

     

    Article
      2.1, entitled “Term”, shall be deleted in its entirety and replaced with the
      following:

    

       
      “2.1         TERM   The
      initial term of this Agreement shall commence on the Effective Date and shall
      continue through September 30, 2010. This Agreement shall thereafter
      automatically be renewed on a year-to-year basis until written notice of
      termination is given by either Party at least twelve (12) months prior to the
      end of the initial term or any subsequent renewal term. The initial term of
      this
      Agreement, as renewed from time to time, shall be referred to as the
“Term”.

    

     

    
      	
              ExxonMobil
                Gas & Power Marketing Company,

            	 	
              Penn
                Octane Corporation

            
	
              A
                division of Exxon Mobil Corporation

            	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
              By:

            	
              /s/
                Alan L. Clark

            	 	
              By:

            	
              /s/
                Charles Handly

            
	 	 	 	 	 
	
              Name:

            	
              Alan
                L. Clark

            	 	
              Name:

            	
               

            
	 	 	 	 	 
	
              Title:

            	
              Lead,
                Gulf Coast Supply &
                Logistics

            	 	
              Title:Exhibit 10.85

    
      

    

    Exhibit
      10.85

    

    Amendment
      No. 1

    To

    Purchase
      and Sale Agreement

    Between

    RIO
      VISTA OPERATING PARTNERSHIP L.P.,

    PENN
      OCTANE INTERNATIONAL, LLC

    And

    TRANSMONTAIGNE
      PRODUCT SERVICES INC.

    

    

    Rio
      Vista
      Operating Partnership L.P., Penn Octane International, LLC, and TrnasMontaigne
      Product Services Inc. entered into a Purchase and Sale Agreement dated August
      15, 2005 (“Agreement”). In consideration of the mutual benefits accruing and
      expected to accrue under this amendment, the undersigned, being the authorized
      representatives of the parties to the Agreement, agree to amend and modify
      the
      Agreement, effective January 1, 2006, as follows:

    

    

    
      	
              1.

            	
              In
                Section 6.1(a), delete clauses (iv) through (xi) and replace them
                with the
                following:

            

    

    

    “(iv) 
        not
      create, incur or assume any debt for borrowed money that is secured by a Lien
      on
      the Collateral, except in connection with the Secured Debt Facility, and not
      create, incur
      or
      assume any debt for borrowed money that is secured by a Lien on any of the
      Assets, Mexican Assets or the Shares, unless such debt provides for release
      by
      the creditor
      upon the Closing;

    

    (v)    
        not
      sell
      or dispose of any of the Assets or the Mexican Assets; or

    

    (vi)   
        not
      agree
      to take any action or actions prohibited by any of the foregoing clauses
(i)
      through (v).” 

    

    

    
      	
              2.

            	
              Delete
                subsection 6.1(e)(i)(A) in its entirety and replace it with the
                following:

            

    

    

    “(A)   
      solicit,
      initiate, or encourage any inquiries or proposals that constitute, or could
      reasonably be expected to lead to, a proposal or offer for a transaction
      pursuant to which any
      person or entity (or group of persons or entities) (a “Third Party”) other than
      the Buyer
      or
      its Affiliates, may acquire the Assets, the Mexican Assets and the Shares (such
      inquiries or proposals being referred to in this Agreement as an “Acquisition
      Proposal”),”

    

    
      	
              3,

            	
              All
                other terms and conditions of the Agreement will remain unchanged
                and in
                full force and effect and the parties hereby ratify and confirm
                them.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

         

      

    

     

    Exhibit
      10.85

     

    Executed
      by the undersigned on this 26
      day
      of
      January 2006.

     

    
      

      
        	
                TRANSMONTAIGNE
                  PRODUCT

              	
                RIO
                  VISTA OPERATING

              
	
                SERVICES
                  INC.

              	 	
                PARTNERSHIP
                  L.P.

              
	 	 	 	
                By:
                  Rio Vista Operating GP LLC,

              
	 	 	 	
                General
                  Partner

              
	 	 	 	 	 	 
	 	 	 	 	 	 
	
                By:

              	
                 /s/
                  William S. Dickey

              	 	
                By:

              	
                /s/
                  Charles Handly

              	 
	
                Name:
                  William S. Dickey

              	
                Name:
                  Charles C. Handly

              
	
                Its:
                  President

              	
                Its:
                  President

              
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	
                PENN
                  OCTANE INTERNATIONAL, LLC

              
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	
                By:

              	
                 /s/
                  Ian T. Bothwell

              	 
	 	 	 	
                Name:
                  Ian T. Bothwell

              
	 	 	 	
                Its:
                  Manager

              

      

      
 

    

     

    2Exhibit 10.86

    
      

    

    Exhibit
      10.86

    

    Amendment
      No. 1

     

    To

     

    Purchase
      and Sale Agreement

     

    Between

    

    PENN
      OCTANE CORPORATION

    

    And

    

    TRANSMONTAIGNE
      PRODUCT SERVICES INC.

    

    

    Penn
      Octane Corporation and TransMontaigne Product Services Inc. entered into a
      Purchase and Sale Agreement dated August 15, 2005 (“Agreement”). In
      consideration of the mutual benefits accruing and expected to accrue under
      this
      amendment, the undersigned, being the authorized representatives of the parties
      to the Agreement, agree to amend and modify the Agreement, effective January
      1,
      2006, as follows:

    

    

    
      	
              1.

            	
              In
                Section 6.1(a), delete clauses (iv) through (xi) and replace them
                with the
                following:

            

    

    

    “(iv) not
      create, incur or assume any debt for borrowed money that is secured by a Lien
      on
      any of the Assets, except in connection with the Secured Debt Facility, unless
      such debt provides for release by the creditor upon the Closing;

    

    (v) not
      sell
      or dispose of any of the Assets; or

    

    (vi) not
      agree
      to take any action or actions prohibited by any of the foregoing clauses (i)
      through (v).”

    

    
      	
              2.

            	
              Delete
                subsection 6.1(c)(i)(A) in its entirety and replace it with the
                following:

            

    

    

    “(A) solicit,
      initiate, or encourage any inquiries or proposals that constitute, or could
      reasonably be expected to lead to, a proposal or offer for a transaction
      pursuant to which any person or entity (or group of persons or entities) (a
      “Third Party”) other than the Buyer or its Affiliates, may acquire the Assets
      (such inquiries or proposals being referred to in this Agreement as an
“Acquisition Proposal”),”

    

    
      	
              3.

            	
              All
                other terms and conditions of the Agreement will remain unchanged
                and in
                full force and effect and the parties hereby ratify and confirm
                them.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Executed
      by the undersigned on this 26th day of January 2006.

    

    

    
      	
              TRANSMONTAIGNE
                PRODUCT

            	 	
              PENN
                OCTANE CORPORATION

            
	
              SERVICES
                INC.

            	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
              By:

            	
               /s/William
                S. Dickey

            	 	
              By:

            	
              /s/
                Charles C. Handly 

            
	
              Name:
                William S. Dickey

            	 	
              Name:
                Charles C. Handly

            
	
              Its:
                President

            	 	
              Its:
                President

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