Document:

Amendment to Employment Agreement January 28 2013

 

 

AMENDMENT TO EMPLOYMENT AND 
NON-SOLICITATION AGREEMENT
 
THIS AMENDMENT TO EMPLOYMENT AND NON-SOLICITATION AGREEMENT (“Amendment”), dated this 28th day of January, 2013, is entered into by and between DELTA APPAREL, INC., a Georgia corporation (“Company”), and Steven E. Cochran, a Georgia resident (“Executive”).
 
WHEREAS, Executive and the Company entered into an Employment and Non-Solicitation Agreement, dated December 31, 2012 (“Agreement”), providing for the terms of Executive's employment with the Company; and

WHEREAS, Executive and the Company desire to make certain amendments to the Agreement in connection with Executive's promotion to the position of President and Chief Operating Officer with the Company, including but not limited to increasing Executive's base salary; and  
 
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1.    The second paragraph of Section 1 of the Agreement is hereby amended and restated in its entirety as follows:
    
Executive's initial job title will be President and Chief Operating Officer of the Company             and his duties     will be those as are designated by the Chairman and Chief Executive Officer         of the Company.

2.    Section 2(a) of the Agreement is hereby amended and restated in its entirety as follows:

(a)   Base Salary.  During the term of Executive's employment with the Company pursuant to this Agreement, the Company shall pay to Executive as compensation for his services a Base Salary of not less than $410,000 ("Base Salary").  Executive's Base Salary will be payable in arrears in accordance with the Company's normal payroll procedures and will be reviewed annually and subject to upward adjustment at the discretion of the Chairman and Chief Executive Officer, which may require the approval of the Compensation Committee of the Company's Board of Directors. 
3.    Section 7 of the Agreement is hereby amended and restated in its entirety as follows:

Non-Competition.  Executive agrees that during the Term and for a period of twelve months from the date of the termination of Executive's employment with the Company pursuant to Sections 4(b), 4(c), 4(d), 4(e) or 6 herein or for any other reason that results in the Executive being entitled to the benefits described in Section 5 or Section 6, he will not, directly or indirectly, compete with the Company by providing to any company that is in a “Competing Business” services substantially similar to the services provided by Executive at the time of termination.  Competing Business shall be defined as any business that engages, in whole or 

in part, in the manufacturing or marketing of activewear apparel in the United States of America (the “Restricted Territory”), and Executive's employment function or affiliation is directly or indirectly in such business of activewear apparel manufacturing or marketing.
Except as otherwise provided in this Amendment, the Agreement will continue as provided therein for the remaining term of the Agreement. 

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.
 
DELTA APPAREL, INC.
 
/s/       Martha M. Watson
 
Name:    Martha M. Watson 
 
Title:    Vice President and Chief Human Resources Officer 

 
“Executive”
 
                        
/s/       Steven E. Cochran    
 
Name:   Steven E. Cochran
 
Title: President and Chief Operating OfficerExhibit 10.1

 

Execution Version

 

SEVENTH AMENDMENT TO AMENDED AND
 RESTATED CREDIT AGREEMENT

 

THIS SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered into as of January 28, 2013 by and among each of the persons listed on the signature pages hereto as lenders (the “Lenders”), Crosstex Energy, L.P., a Delaware limited partnership (the “Borrower”), and Bank of America, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and L/C Issuer.

 

ARTICLE I

 

BACKGROUND

 

A.                                    The Lenders, the Administrative Agent, the L/C Issuer and the Borrower are parties to that certain Amended and Restated Credit Agreement dated as of February 10, 2010 (as amended, supplemented or restated, the “Credit Agreement”).  Terms defined in the Credit Agreement and not otherwise defined herein have the same meanings when used herein.

 

B.                                    The Borrower, the Subsidiaries of Borrower party thereto and the Administrative Agent are parties to that certain Amended and Restated Security Agreement dated as of February 10, 2010 (as amended, supplemented or restated, the “Security Agreement”).

 

C.                                    The Borrower has requested, and the Lenders have agreed to amend the Credit Agreement and the Security Agreement as provided for herein and on the terms and conditions set forth herein.

 

ARTICLE II

 

AGREEMENT

 

NOW THEREFORE, in consideration of the covenants, conditions and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are all hereby acknowledged, the parties hereto covenant and agree as follows:

 

Section 1.                                           Amendments to the Credit Agreement.  The Credit Agreement is hereby amended as follows:

 

(a)                                 Section 1.01 of the Credit Agreement is amended by deleting the definitions of “Acquisition Period” and “Clearfield Acquisition Period”.

 

(b)                                 Section 1.01 of the Credit Agreement is amended to add a new definition of “2013 Equity Issuance” to read in its entirety as follows:

 

“2013 Equity Issuance” means the issuances by the Borrower of common units representing limited partner interest of the Borrower, which issuances closed on or about January 14, 2013.

 

1

 

(c)                                  The first paragraph of the definition of “Consolidated EBITDA” in Section 1.01 of the Credit Agreement is amended to read in its entirety as follows:

 

“Consolidated EBITDA” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus, without duplication, (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges for such period, (ii) the provision for Federal, state, local and foreign income taxes payable by the Borrower and its Subsidiaries for such period, (iii) depreciation and amortization expense, (iv) non-cash items of the Borrower and its Subsidiaries reducing such Consolidated Net Income, (v) other non-recurring items of the Borrower and its Subsidiaries reducing such Consolidated Net Income, and (vi) without duplication, the Transaction Costs properly allocated to such period, if applicable, in an amount not to exceed 10% of Consolidated EBITDA for such period, and minus (b) the following to the extent included in calculating such Consolidated Net Income:  (i) Federal, state, local and foreign income tax credits of the Borrower and its Subsidiaries for such period and (ii) all non-cash items increasing Consolidated Net Income for such period; provided, however, notwithstanding the foregoing, (A) net income attributable to Subsidiaries that are not Guarantors shall not be considered in calculating Consolidated EBITDA, but actual cash distributions to the Borrower or any of its Subsidiaries by such Subsidiaries that are not Guarantors shall be included in calculating Consolidated EBITDA and (B) actual cash distributions to the Borrower and its Subsidiaries by any Persons that are not Subsidiaries shall be included in calculating Consolidated EBITDA.

 

(d)                                 Section 1.01 of the Credit Agreement is amended to add the following definition:

 

“FATCA” means Sections 1471 through 1474 of the Code, as of January 28, 2013 (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code.

 

(e)                                  Section 1.01 of the Credit Agreement is amended to replace the following definitions to read in their entireties as follows:

 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of a Loan Party hereunder or under any other Loan Documents, (a) taxes imposed on or measured by all or part of its net income (however denominated), gross margin, profits or gains and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the Laws of which

 

2

 

such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable Lending Office is located, (b) any branch profits taxes imposed by the United States (or any political subdivision thereof) or any similar tax imposed by any other jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which such recipient’s applicable principal office is located or, in the case of a Lender, in which its applicable Lending Office is located, (c) any backup withholding tax that is required by the Code to be withheld from amounts payable to it, (d) in the case of a Foreign Lender, any withholding tax that (i) is required to be imposed on amounts payable to such Foreign Lender pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or (ii) is attributable to such Foreign Lender’s failure or inability (other than as a result of a Change in Law occurring after such Foreign Lender becomes a party hereto) to comply with Section 3.01(e), except (in either case) to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment, as applicable), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 3.01(a)(ii), and (e) any U.S. federal withholding Taxes imposed under FATCA.

 

“Omnibus Agreement” means the Omnibus Agreement, dated December 17, 2002, among the Borrower, the Ultimate General Partner, Crosstex Energy, Inc. and Crosstex Energy Services, L.P.

 

“Transaction Costs” means all (a) upfront, structuring, consent, original issue discount, legal, professional and advisory fees paid by the Borrower (whether or not incurred by the Borrower) in connection with the negotiation and execution, delivery and performance of the Borrower’s obligations under (i) this Agreement (including any amendments, supplements or restatements), (ii) the Indenture (and the Borrower’s issuance of Indebtedness governed thereby), and (iii) the 2010 Equity Issuance and the 2013 Equity Issuance, in each case, whether or not such transaction is consummated, (b) payments made by the Borrower to any counterparty to any Swap Contract in connection with the termination of such Swap Contract as a result of the transactions contemplated by this Agreement (including any amendments, supplements or restatements) and the Indenture, and (c) make-whole amounts, prepayment premiums and interest paid in kind with respect to Indebtedness prepaid on or before the Closing Date with the proceeds of the Indebtedness incurred pursuant to this Agreement and the Indenture.

 

“Ultimate General Partner” means Crosstex Energy GP, LLC, a Delaware limited liability company, and its successors and permitted assigns as

 

3

 

general partner of the Borrower or as the business entity with the ultimate authority to manage the business and operations of the Borrower.

 

(f)                                   The third sentence of Section 2.03(i) is amended to read in its entirety as follows:

 

“Letter of Credit Fees shall be (i) due and payable on the third Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears.”

 

(g)                                  The second sentence of Section 2.03(j) is amended to read in its entirety as follows:

 

“Such fronting fee shall be due and payable on the fifteenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand.”

 

(h)                                 The second sentence of Section 2.09(a) is amended to read in its entirety as follows:

 

“The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the third Business Day after the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period.”

 

(i)                                     Section 3.01(e)(ii)(A) is amended by deleting the word “and” after the semicolon.

 

(j)                                    Section 3.01(e)(ii)(B)(V) is amended by replacing the period at the end of such paragraph with “; and”.

 

(k)                                 A new Section 3.01(e)(ii)(C) is added to read in its entirety as follows:

 

“(C)                         if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative

 

4

 

Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this clause (C), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.”

 

(l)                                     Section 5.20 of the Credit Agreement is amended to read in its entirety as follows:

 

“5.20                  Ownership.  The Ultimate General Partner is the sole general partner of the Borrower with, as of the date hereof, approximately a 2% general partner interest in the Borrower.  No part of the partnership interests in the Borrower is subject to any Lien granted by the Ultimate General Partner, other than preferential rights of the partners under the Borrower Partnership Agreement.”

 

(m)                             Section 7.03(i) of the Credit Agreement is amended to read in its entirety as follows:

 

“(i)                               unsecured Indebtedness of the Borrower and/or a Finance Entity and/or any unsecured guaranty by the Borrower or any Guarantor of such Indebtedness of the Borrower or any Affiliate of the Borrower; provided that (i) the Borrower is in compliance with Section 7.11(b) and (c) immediately after giving effect to the incurrence of any such Indebtedness or guaranty determined based upon the outstanding amount of Consolidated Funded Indebtedness immediately after giving effect to such incurrence, Consolidated EBITDA for the four fiscal quarters most recently ended on or before the date of such incurrence and the maximum Consolidated Leverage Ratio or the maximum Consolidated Senior Leverage Ratio, as applicable, allowed as of the end of the fiscal quarter most recently ended on or prior to the date of such incurrence (and in the case of any guaranty of Indebtedness of the Borrower or any other Affiliate of the Borrower, the aggregate amount of such Indebtedness so guaranteed shall be “Consolidated Funded Indebtedness” of the Borrower for purposes of calculating the Consolidated Leverage Ratio and Consolidated Senior Leverage Ratio), (ii) such Indebtedness does not impose any financial or other “maintenance” covenants on the Borrower or any of the Subsidiaries that are more onerous than the covenants set forth in this Agreement, (iii) such Indebtedness shall not require any scheduled payment on account of principal (whether by redemption, purchase, retirement, defeasance, set-off or otherwise) prior to the Maturity Date and

 

5

 

(iv) such Indebtedness shall contain terms and conditions that are customary for such transactions;”

 

(n)                                 Section 7.04(d) of the Credit Agreement is amended to read in its entirety as follows:

 

“(d)                           the Borrower or any Subsidiary may make any Acquisition; provided, however, that any such Acquisition shall be permitted only if, (i) the Borrower complies with Section 6.12; (ii) the Borrower or a Subsidiary is the acquiring or surviving entity; (iii) after giving effect to such Acquisition on a pro forma basis (including any Indebtedness of the acquired Person or related to the acquired assets), the Borrower would have been in compliance with all of the covenants contained in this Agreement, including, without limitation, Section 7.11 as of the end of the most recent fiscal quarter, (iv) the acquisition target is in the same or similar line of business as Borrower and its Subsidiaries and the Borrower and its Subsidiaries shall be in full compliance with Section 7.07 after giving effect to such Acquisition, and (v) the aggregate amount of the Borrower’s and its Subsidiaries’ cash, Permitted Investments and the remaining unused portion of the Aggregate Commitments is sufficient to fund such Acquisition and, after funding such Acquisition, the unused portion of the Aggregate Commitments shall not be less than $50,000,000; and”

 

(o)                                 Section 7.11(a) of the Credit Agreement is amended to read in its entirety as follows:

 

“(a)                           Consolidated Interest Coverage Ratio.  Permit the Consolidated Interest Coverage Ratio as of the end of (i) any fiscal quarter of the Borrower ending on or prior to December 31, 2013 to be less than 2.25 to 1.00, and (ii) each fiscal quarter ending thereafter to be less than 2.50 to 1.00; provided that for purposes of this Section 7.11(a), Consolidated EBITDA may include, at Borrower’s option, any Material Project EBITDA Adjustments.”

 

(p)                                 Section 7.11(b) of the Credit Agreement is amended to read in its entirety as follows:

 

“(b)                           Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio as of the end of (i) any fiscal quarter of the Borrower ending on or prior to December 31, 2013 to be greater than 5.50 to 1.00, and (ii) each fiscal quarter ending thereafter to be greater than 5.25 to 1.00; provided that for purposes of this Section 7.11(b), Consolidated EBITDA may include, at Borrower’s option, any Material Project EBITDA Adjustments.”

 

6

 

(q)                                 Section 10.21 of the Credit Agreement is renumbered as Section 10.22 and a new Section 10.21 of the Credit Agreement is added to read in its entirety as follows:

 

“10.21                                                           No General Partner’s Liability.  The Administrative Agent and the Lenders agree for themselves and their respective successors and assigns, including any subsequent holder of any Note, that no claim under this Agreement or under any other Loan Document shall be made against the Ultimate General Partner.”

 

(r)                                    The first sentence of Section 4.05 of the Security Agreement is amended to read in its entirety as follows:

 

“4.05                  Deposit Accounts, Securities Accounts, Commodity Accounts and Letter-of-Credit Rights.  No Debtor shall establish or maintain any Deposit Account, Securities Account or Commodities Account (other than (i) any such Deposit Account, Securities Account or Commodities Account constituting Excluded Property and (ii) any deposit accounts, disbursement accounts and other cash management accounts which are not Cash Management Accounts (as defined in Section 6.16 of the Credit Agreement)) with any Person other than Secured Party, unless such Debtor delivers to Secured Party an updated Schedule as required by the first sentence of Section 4.17 and within 30 days (or such longer period as permitted by Secured Party in its sole discretion) after the Closing Date or the establishment of such new Deposit Account, Securities Account, or Commodity Account, whichever is later, such Debtor executes and delivers to Secured Party a Control Agreement with respect to such Deposit Account, Securities Account, or Commodity Account; provided that, with respect to Deposit Accounts, Commodity Accounts and Securities Accounts in existence on the Closing Date, the Debtors shall obtain such Control Agreements within 270 days after the Closing Date (or such longer period as permitted by Secured Party in its sole discretion).”

 

Section 2.                                           Conditions Precedent.  This Amendment shall become effective as of the date first set forth above upon the satisfaction of the following conditions precedent:

 

(a)                                 The Administrative Agent shall have received each of the following:

 

(1)                                 this Amendment, duly executed by the Borrower, the Required Lenders, and the Administrative Agent;

 

(2)                                 the acknowledgment attached to this Amendment, duly executed by each Guarantor;

 

(3)                                 the fee letter dated as of the date hereof (the “Fee Letter”), duly executed by the Borrower, the Administrative Agent and Merrill Lynch, Pierce, Fenner & Smith, Inc.;

 

7

 

(4)                                 payment or evidence of payment of all reasonable fees and expenses owed by the Borrower to the Administrative Agent including, without limitation, the fees payable under the Fee Letter and the reasonable fees and expenses of Bracewell & Giuliani LLP, counsel to the Administrative Agent; and

 

(5)                                 such other documents, instruments and certificates as reasonably requested by the Administrative Agent and the Lenders.

 

(b)                                 The representations and warranties set forth in Section 3 of this Amendment shall be true and correct on and as of the date hereof.

 

Section 3.                                           Representations and Warranties.

 

(a)                                 The Borrower represents and warrants to the Lenders and the Administrative Agent as set forth below:

 

(1)                                 The Borrower (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, and (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to execute, deliver and perform its obligations under this Amendment.

 

(2)                                 The execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of the Borrower’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under (other than Liens created under the Loan Documents), or require any payment to be made (other than payments required under any Loan Document) under (i) any Contractual Obligation to which the Borrower is a party or affecting the Borrower or its properties or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which the Borrower or its property is subject; or (c) violate any Law; except in each case referred to in clause (b), to the extent that such conflict, breach, contravention or violation could not reasonably be expected to have a Material Adverse Effect.

 

(3)                                 No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower of this Amendment, except for such approvals, consents, exemptions, authorizations, other actions, notices and filings as have been obtained, taken, given or made and are in full force and effect and with which the Borrower and its Subsidiaries are in compliance in all material respects or which the failure to have would not result in a Material Adverse Effect.

 

(4)                                 This Amendment has been duly executed and delivered by the Borrower and acknowledged by each Guarantor.  This Amendment constitutes the

 

8

 

legal, valid and binding obligation of the Borrower, enforceable against it in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors’ rights generally or by general principles of equity (regardless of whether such enforceability is considered in any proceeding in law or in equity).

 

(5)                                 The execution, delivery and performance of this Amendment do not adversely affect the enforceability of any Lien of the Collateral Documents.

 

(6)                                 Except as disclosed in Schedule 5.06 to the Credit Agreement, there is no pending or, to the knowledge of the Borrower, threatened action or proceeding affecting the Borrower or any Subsidiary before any Governmental Authority, referee or arbitrator that could reasonably be expected to have a Material Adverse Effect.

 

(7)                                 The representations and warranties made by the Borrower and the Guarantors contained in Article V of the Credit Agreement and in each of the other Loan Documents are true and correct in all material respects on and as of the date hereof, as though made on and as of such date, other than any such representations or warranties that, by the their terms, refer to a specific date, in which case such representation or warranties are true and correct in all material respects as of such earlier specific date.

 

(8)                                 No event has occurred and is continuing, or would result from the effectiveness of this Amendment, which constitutes a Default.

 

(9)                                 As of December 31, 2012, the Borrower has no (a) Material Subsidiaries other than those listed on Schedule 3(a) and (b) non-Material Subsidiaries other than those listed on Schedule 3(b).

 

Section 4.                                           Reference to and Effect on the Credit Agreement.

 

(a)                                 On and after the effective date of this Amendment each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the Credit Agreement as amended by this Amendment, and each reference in the other Loan Documents to “the Credit Agreement,” “thereunder,” “thereof,” “therein” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended by this Amendment.

 

(b)                                 Except as specifically amended above, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.  Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all obligations stated to be secured thereby under the Loan Documents.

 

9

 

(c)                                  Except as expressly set forth herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or any Lender under any of the Loan Documents or constitute a waiver of any provision of any of the Loan Documents.

 

(d)                                 This Agreement is a Loan Document for the purposes of the other Loan Documents.

 

Section 5.                                           Execution in Counterparts.  This Amendment may be executed in any number of counterparts and by the parties hereto in separate counterparts, each which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by telecopier or other electronic imaging means shall be effective as delivery of an originally executed counterpart of this Amendment.

 

Section 6.                                           Governing Law; Binding Effect.  This Amendment shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, and shall be binding upon the Borrower, the Administrative Agent, the L/C Issuer, each Lender and their respective successors and assigns.

 

Section 7.                                           Costs and Expenses.  The Borrower agrees to pay on demand all reasonable out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder, including the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto and with respect to advising the Administrative Agent as to its rights and responsibilities hereunder and thereunder.

 

THIS WRITTEN AMENDMENT AND THE LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

 

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

[Remainder of this page blank; signature pages follow]

 

10

 

Executed as of the date first set forth above.

 

	
 
    	
CROSSTEX   ENERGY, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
Crosstex   Energy GP, LLC,
    
	
 
    	
 
    	
its   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Michael J. Garberding
    
	
 
    	
 
    	
 
    	
Name:
    	
Michael   J. Garberding
    
	
 
    	
 
    	
 
    	
Title:
    	
Senior   Vice President and Chief
    
	
 
    	
 
    	
 
    	
 
    	
Financial   Officer
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

Each of the undersigned, as guarantors under the Amended and Restated Guaranty dated as of February 10, 2010 (as supplemented to date, the “Guaranty”), and as debtors, mortgagors, and/or grantors under the Collateral Documents, hereby (a) consents to this Amendment, and (b) confirms and agrees that the Guaranty and each of the Collateral Documents to which it is a party is and shall continue to be in full force and effect and is ratified and confirmed in all respects, except that, on and after the effective date of the Amendment each reference in the Guaranty and the other Collateral Documents to “the Credit Agreement,” “thereunder,” “thereof,” “therein” or any other expression of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as modified by this Amendment.

 

 

	
ADDRESS   FOR ALL UNDERSIGNED:
    	
CROSSTEX   ENERGY SERVICES, L.P.  
    
	
 
    	
 
    
	
2501   Cedar Springs
    	
By:
    	
Crosstex   Operating GP, LLC,
    
	
Suite 100
    	
 
    	
its   general partner
    
	
Dallas,   Texas 75201
    	
 
    	
 
    
	
Attention:   General Counsel
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael J. Garberding
    
	
 
    	
 
    	
Name:
    	
Michael   J. Garberding
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President and
    
	
 
    	
 
    	
 
    	
Chief   Financial Officer
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
APPALACHIAN   OIL PURCHASERS, LLC
    
	
 
    	
CROSSTEX   OPERATING GP, LLC
    
	
 
    	
CROSSTEX   ORV HOLDINGS, INC.
    
	
 
    	
CROSSTEX   ENERGY SERVICES GP, LLC
    
	
 
    	
CROSSTEX   LIG, LLC
    
	
 
    	
CROSSTEX   TUSCALOOSA, LLC
    
	
 
    	
CROSSTEX   LIG LIQUIDS, LLC
    
	
 
    	
CROSSTEX   PROCESSING SERVICES, LLC
    
	
 
    	
CROSSTEX   PELICAN, LLC
    
	
 
    	
CROSSTEX   PERMIAN, LLC
    
	
 
    	
CROSSTEX   PERMIAN II, LLC
    
	
 
    	
KENTUCKY   OIL GATHERING, LLC
    
	
 
    	
M&B   GAS SERVICES, LLC
    
	
 
    	
OHIO   OIL GATHERING II, LLC
    
	
 
    	
OHIO   OIL GATHERING III, LLC
    
	
 
    	
OOGC   DISPOSAL COMPANY I, LLC
    
	
 
    	
WEST   VIRGINIA OIL GATHERING, LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael J. Garberding
    
	
 
    	
 
    	
Name:
    	
Michael   J. Garberding
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President and
    
	
 
    	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CROSSTEX   GULF COAST MARKETING LTD.
    
	
 
    	
CROSSTEX   CCNG PROCESSING LTD.
    
	
 
    	
CROSSTEX   NORTH TEXAS PIPELINE, L.P.
    
	
 
    	
CROSSTEX   NORTH TEXAS GATHERING, L.P.
    
	
 
    	
CROSSTEX   NGL MARKETING, L.P.
    
	
 
    	
CROSSTEX   NGL PIPELINE, L.P.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Crosstex   Energy Services GP, LLC,
    
	
 
    	
 
    	
general   partner of each above limited
    
	
 
    	
 
    	
partnership
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael J. Garberding
    
	
 
    	
 
    	
Name:
    	
Michael   J. Garberding
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President and
    
	
 
    	
 
    	
 
    	
Chief   Financial Officer
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
SABINE   PASS PLANT FACILITY JOINT VENTURE
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Crosstex   Processing Services, LLC,
    
	
 
    	
 
    	
as   general partner, and
    
	
 
    	
By:
    	
Crosstex   Pelican, LLC,
    
	
 
    	
 
    	
as   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael J. Garberding
    
	
 
    	
 
    	
Name:
    	
Michael   J. Garberding
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President and
    
	
 
    	
 
    	
 
    	
Chief   Financial Officer
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Alan Tapley
    
	
 
    	
 
    	
Name:
    	
Alan   Tapley
    
	
 
    	
 
    	
Title:
    	
Assistant   Vice President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   a Lender and L/C Issuer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Adam H. Fey
    
	
 
    	
 
    	
Name:
    	
Adam   H. Fey
    
	
 
    	
 
    	
Title:
    	
Director
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
COMERICA   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Brandon M. White
    
	
 
    	
 
    	
Name:
    	
Brandon   M. White
    
	
 
    	
 
    	
Title:
    	
Corporate   Banking Officer
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
COMPASS   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Umar Hassan
    
	
 
    	
 
    	
Name:
    	
Umar   Hassan
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
ROYAL   BANK OF CANADA
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jason York
    
	
 
    	
 
    	
Name:
    	
Jason   York
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
SUMITOMO   MITSUI BANKING  CORPORATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Shuji Yabe
    
	
 
    	
 
    	
Name:
    	
Shuji   Yabe
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/  Daniel K. Hansen
    
	
 
    	
 
    	
Name:
    	
Daniel   K. Hansen
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
WELLS   FARGO BANK, N.A.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/  Brandon Kast
    
	
 
    	
 
    	
Name:
    	
Brandon   Kast
    
	
 
    	
 
    	
Title:
    	
Assistant   Vice President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
BANK   OF MONTREAL
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/  Gumaro Tijerina
    
	
 
    	
 
    	
Name:
    	
Gumaro   Tijerina
    
	
 
    	
 
    	
Title:
    	
Director
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
CAPITAL   ONE, NATIONAL ASSOCIATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/  Robert James
    
	
 
    	
 
    	
Name:
    	
Robert   James
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
GOLDMAN   SACHS BANK USA
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/  Lauren Havens
    
	
 
    	
 
    	
Name:
    	
Lauren   Havens
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
MORGAN   STANLEY BANK, N.A.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/  William Jones
    
	
 
    	
 
    	
Name:
    	
William   Jones
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
CITIBANK,   N.A.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/    Mason McGurrin
    
	
 
    	
 
    	
Name:
    	
Mason   McGurrin
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
ABN   AMRO CAPITAL USA LLC
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/    Darrell Holley
    
	
 
    	
 
    	
Name:
    	
Darrell   Holley
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Casey Lowary
    
	
 
    	
 
    	
Name:
    	
Casey   Lowary
    
	
 
    	
 
    	
Title:
    	
Director
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
REGIONS   BANK
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/    David Valentine
    
	
 
    	
 
    	
Name:
    	
David   Valentine
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
AMEGY   BANK NATIONAL ASSOCIATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/    Jill McSorley
    
	
 
    	
 
    	
Name:
    	
Jill   McSorley
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

	
 
    	
ONEWEST   BANK, FSB
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/    Sean Murphy
    
	
 
    	
 
    	
Name:
    	
Sean   Murphy
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President
    

 

Signature Page to Seventh Amendment to Amended and Restated Credit Agreement

 

 

SCHEDULE 3(a)

 

MATERIAL SUBSIDIARIES

 

Crosstex Energy Services, L.P. (DE)

Crosstex Operating GP, LLC (DE)*

Crosstex Energy Services GP, LLC (DE)*

Crosstex LIG, LLC (LA)

Crosstex Tuscaloosa, LLC (LA)*

Crosstex LIG Liquids, LLC (LA)

Crosstex Gulf Coast Marketing Ltd. (TX)*

Crosstex CCNG Processing Ltd. (TX)

Crosstex North Texas Pipeline, L.P. (TX)

Crosstex North Texas Gathering, L.P. (TX)

Crosstex NGL Pipeline, L.P. (TX)*

Crosstex NGL Marketing, L.P. (TX)*

Crosstex Processing Services, LLC (DE)

Crosstex Pelican, LLC (DE)

Sabine Pass Plant Facility Joint Venture (TX)*

Crosstex Permian, LLC (TX)*

Crosstex Permian II, LLC (TX)*

Crosstex Louisiana Gathering, LLC (Louisiana)*

Crosstex ORV Holdings, Inc. (DE)*

Appalachian Oil Purchasers, LLC (DE) *

Kentucky Oil Gathering, LLC (DE) *

M&B Gas Services, LLC (DE) *

Ohio Oil Gathering II, LLC (DE) *

Ohio Oil Gathering III, LLC (DE) *

OOGC Disposal Company I, LLC (DE) *

West Virginia Oil Gathering, LLC (DE) *

 

*Indicates entity has previously been treated as a Material Subsidiary (e.g., it pledged assets and is a Guarantor) but does not technically meet the definition of a “Material Subsidiary” as of December 31, 2012.

 

Schedule 3(a) to

Seventh Amendment to Amended and Restated Credit Agreement

 

 

SCHEDULE 3(b)

 

NON-MATERIAL SUBSIDIARIES

 

Crosstex Louisiana Energy, L.P. (Delaware)

Crosstex DC Gathering Company, J.V. (Texas)

Crosstex Energy Finance Corporation (Delaware)

Clearfield Ohio Holdings, Inc. (Ohio)

Pike Natural Gas Company (Ohio)

Eastern Natural Gas Company (Ohio)

Southeastern Natural Gas Company (Ohio)

 

Schedule 3(b) to

Seventh Amendment to Amended and Restated Credit Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}]]