Document:

exv4w1

 

EXHIBIT 4.1

ELEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT

          THIS ELEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (hereinafter referred to as the
“Amendment”) is made and entered into as of the 7th day of June, 2007, between and among,
on the one hand, the lenders identified on the signature pages hereof (such lenders, together with
their respective successors and assigns, are referred to hereinafter each individually as a
“Lender” and collectively as the “Lenders”), WELLS FARGO FOOTHILL, INC., a
California corporation (f/k/a Foothill Capital Corporation), as the arranger and administrative
agent for the Lenders (“Agent”), and, on the other hand, PCI CHEMICALS CANADA COMPANY, a
Nova Scotia unlimited liability company, and PIONEER AMERICAS LLC, a Delaware limited liability
company (hereinafter each individually is referred to as a “Borrower” and collectively as
the “Borrowers”).

RECITALS

          A. Agent, the Lenders and the Borrowers have entered into that certain Loan and Security
Agreement, dated as of December 31, 2001 (as amended from time to time the “Agreement”).

          B. Agent, the Lenders and the Borrowers desire to amend the Agreement as hereinafter set
forth.

          NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending
to be legally bound, hereby agree as follows:

ARTICLE I

DEFINITIONS

     Section 1.01. Definitions. Capitalized terms used in this Amendment, to the extent
not otherwise defined herein, shall have the same meaning as in the Agreement, as amended hereby.

ARTICLE II

AMENDMENTS

     Section 2.01. Amendment to Definition of Maximum Revolver Amount. The definition of
“Maximum Revolver Amount” in Section 1.1 of the Agreement is amended by deleting
“$30,000,000.00” and inserting in lieu thereof “$33,000,000.00”.

     Section 2.02. Amendment to Section 2.12(a)(ii). Subsection (ii) of Section 2.12(a) of
the Agreement is hereby amended to hereafter read as follows:

          (ii) “the Letter of Credit Usage would exceed $33,000,000.00, or”

ARTICLE III

CONDITIONS PRECEDENT

     Section 3.01. Conditions. The effectiveness of this Amendment is subject to the
satisfaction of the following conditions precedent, unless specifically waived by Agent:

 

 

     (a) Agent shall have received the following documents, each in form and substance
satisfactory to Agent:

     (i) This Amendment, duly executed by Borrowers, together with the Consent and
Ratification (the “Ratification”) hereto, duly executed by the Guarantors;

     (ii) Officers’ Certificates dated as of the date of this Amendment, in form and
substance satisfactory to Agent, certified by the Secretary of the Borrowers and the
Guarantors certifying among other things, that the Borrowers’ and Guarantors’ Board
of Directors have met and have adopted, approved, consented to and ratified
resolutions which authorize the execution, delivery and performance by Borrowers of
this Amendment, and the Guarantors of the Ratification, and each other document,
instrument and agreement executed in connection with or relating to the Agreement,
this Amendment or the Ratification (hereinafter individually referred to as a
“Loan Document” and collectively referred to as the “Loan
Documents”);

     (b) The representations and warranties contained herein, in the Agreement, as amended
hereby, and/or in each other Loan Document shall be true and correct as of the date hereof,
as if made on the date hereof;

     (c) No Event of Default shall have occurred and be continuing and no Default shall
exist, unless such Event of Default or Default has been specifically waived in writing by
Agent;

     (d) All corporate proceedings taken in connection with the transactions contemplated by
this Amendment and all documents, instruments and other legal matters incident thereto,
shall be satisfactory to Agent; and

     (e) Borrowers shall pay to Agent a closing fee of U.S. $10,000.00, which fee shall be
due and payable in full upon execution of this Amendment.

ARTICLE IV

RATIFICATIONS, REPRESENTATIONS AND WARRANTIES

     Section 4.01. Ratifications. The terms and provisions set forth in this Amendment
shall modify and supersede all inconsistent terms and provisions set forth in the Agreement and
except as expressly modified and superseded by this Amendment, the terms and provisions of the
Agreement and the other Loan Documents are ratified and confirmed and shall continue in full force
and effect. Borrowers and the Agent agree that the Agreement, as amended hereby, and the other
Loan Documents shall continue to be legal, valid, binding and enforceable in accordance with their
respective terms.

     Section 4.02. Representations and Warranties. Borrowers hereby represent and warrant
to Agent as follows:

 

 

     (a) the execution, delivery and performance of this Amendment and any and all other
Loan Documents executed and/or delivered in connection herewith have been authorized by all
requisite corporate action on the part of Borrowers and do not and will not conflict with or
violate any provision of any Applicable Law, the Articles of Incorporation/Organization or
Bylaws/Operating Agreement of any Borrower or any agreement, document, judgment, license,
order or permit applicable to or binding upon any of the Borrowers or their respective
Property; no consent, approval, authorization or order of and no notice to or filing with,
any court or governmental authority or third person is required in connection with the
execution, delivery or performance of this Amendment or to consummate the transactions
contemplated hereby;

     (b) the representations and warranties contained in the Agreement, as amended hereby,
and any other Loan Document are true and correct on and as of the date hereof as though made
on and as of the date hereof, except to the extent such representations and warranties
relate to an earlier date;

     (c) Borrowers are in full compliance with all covenants and agreements contained in the
Agreement, as amended hereby, and the other Loan Documents; and

     (d) Borrowers have not amended their respective Articles of Incorporation/Organization
or Bylaws/Operating Agreement or other organizational documents since the date of the
execution of the Agreement.

ARTICLE V

MISCELLANEOUS

     Section 5.01. Survival of Representations and Warranties. All representations and
warranties made in the Agreement or any other document or documents relating thereto,
including, without limitation, any Loan Document furnished in connection with this
Amendment, shall survive the execution and delivery of this Amendment and the other Loan Documents,
and no investigation by Agent or any closing shall affect the representations and warranties or the
right of Agent to rely upon them.

     Section 5.02. Reference to Agreement. Each of the Loan Documents, including the
Agreement and any and all other agreements, documents or instruments now or hereafter executed and
delivered pursuant to the terms hereof or pursuant to the terms of the Agreement, as amended
hereby, are hereby amended so that any reference in such Loan Documents to the Agreement shall mean
a reference to the Agreement, as amended hereby.

     Section 5.03. Expenses of Agent. As provided in the Agreement, each Borrower agrees
to pay on demand all reasonable costs and expenses incurred by Agent in connection with the
preparation, negotiation and execution of this Amendment and the other Loan Documents executed
pursuant hereto and any and all amendments, modifications, and supplements hereto, including,
without limitation, the reasonable costs and fees of Agent’s legal counsel, and all reasonable
costs and expenses incurred by Agent in connection with the enforcement or preservation of any
rights under the Agreement, as amended hereby, or any other Loan Document, including, without
limitation, the reasonable costs and fees of Agent’s legal counsel.

 

 

     Section 5.04. RELEASE. EACH BORROWER HEREBY ACKNOWLEDGES THAT IT HAS NO DEFENSE,
COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE
ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE OBLIGATIONS OR TO
SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM THE AGENT OR THE LENDERS. EACH
BORROWER HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES THE AGENT AND THE
LENDERS, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS,
DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR
UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL,
AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS AMENDMENT IS
EXECUTED, WHICH THE BORROWER MAY NOW OR HEREAFTER HAVE AGAINST THE AGENT AND THE LENDERS, THEIR
PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY
SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING
FROM ANY OF THE OBLIGATIONS, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING,
RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE, THE
EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE AGREEMENT OR OTHER LOAN DOCUMENTS, AND NEGOTIATION
FOR AND EXECUTION OF THIS AMENDMENT.

     Section 5.05. Severability. Any provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder
of this Amendment and the effect thereof shall be confined to the provision so held to be invalid
or unenforceable.

     Section 5.06. APPLICABLE LAW. THIS AMENDMENT AND ALL OTHER LOAN DOCUMENTS EXECUTED
PURSUANT HERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
TEXAS.

     Section 5.07. Successors and Assigns. This Amendment is binding upon and shall inure
to the benefit of Agent, the Lenders and the Borrowers and their respective successors and assigns,
except the Borrowers may not assign or transfer any of their rights or obligations hereunder
without the prior written consent of Agent.

     Section 5.08. Counterparts. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original, but all of which
when taken together shall constitute one and the same instrument.

     Section 5.09. Effect of Waiver. No consent or waiver, express or implied, by Agent to
or for any breach of or deviation from any covenant or condition of the Agreement shall be deemed a
consent or waiver to or of any other breach of the same or any other covenant, condition or duty.

 

 

     Section 5.10. Headings. The headings, captions, and arrangements used in this
Amendment are for convenience only and shall not affect the interpretation of this Amendment.

     Section 5.11. FINAL AGREEMENT. THE AGREEMENT, AS AMENDED HEREBY AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES RELATED TO THE SUBJECT MATTER HEREOF
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.

[The Remainder of this Page Intentionally Left Blank]

 

 

     IN WITNESS WHEREOF, the Borrowers, Agent and the Lenders have caused this Amendment to be
executed on the date first written above by their duly authorized officers.

	 	 	 	 	 
	 	PCI CHEMICALS CANADA COMPANY

a Nova Scotia unlimited liability company

 	 
	 	By:  	/s/  Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial Officer 	 
	 
	 	PIONEER AMERICAS LLC

a Delaware limited liability company

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial Officer 	 
	 
	 	WELLS FARGO FOOTHILL, INC.,

a California corporation (f/k/a Foothill Capital Corporation),

as Agent and as a Lender

 	 
	 	By:  	/s/ John Nocita
 	 
	 	Name:  	John Nocita 	 
	 	Title:  	Senior Vice President 	 
	 

 

 

CONSENT AND RATIFICATION

     The undersigned, Pioneer Companies, Inc., Pioneer (East), Inc., Pioneer Licensing, Inc.,
Imperial West Chemical Co., KNA California, Inc., Pioneer Water Technologies, Inc., and KWT, Inc.
(each a “Guarantor” and collectively the “Guarantors”) have executed that certain
continuing general guaranty dated as of December 31, 2001 (the “Guaranty”), in favor of
WELLS FARGO FOOTHILL, INC., a California corporation (f/k/a Foothill Capital Corporation), as the
arranger and administrative agent for the Lenders (as defined in the Guaranty). The Guarantors
hereby consent and agree to the terms of the Eleventh Amendment to Loan and Security Agreement
dated as of June 7, 2007 (the “Amendment”), executed by PCI CHEMICALS CANADA COMPANY, a
Nova Scotia unlimited liability company, and PIONEER AMERICAS LLC, a Delaware limited liability
company (hereinafter each individually is referred to as a “Borrower” and collectively as
the “Borrowers”), the Lenders and Agent, a copy of which is attached hereto, amending that
certain Loan and Security Agreement dated as of December 31, 2001, as amended from time (such
agreement as previously amended and as further amended by the Amendment is called the
“Agreement”), and the undersigned agree that the Guaranty shall remain in full force and
effect and shall continue to be the legal, valid and binding obligation of the Guarantors,
enforceable against the Guarantors in accordance with its terms. Furthermore, each Guarantor
hereby agrees and acknowledges that (a) the Guaranty is a “Loan Document” as such term is defined
in the Amendment and as such term is defined in the Agreement, (b) the Guaranty is not subject to
any claims, defenses or offsets, (c) nothing contained in this Amendment or any other Loan Document
shall adversely affect any right or remedy of Agent under the Guaranty, (d) the execution and
delivery of the Amendment shall in no way reduce, impair or discharge any obligations of the
undersigned as guarantors pursuant to the Guaranty and shall not constitute a waiver by Agent of
any of Agent’s rights against the undersigned, (e) by virtue hereof and by virtue of the Guaranty,
each Guarantor hereby guarantees to Agent the prompt and full payment and full and faithful
performance by the Borrowers of the entirety of the Obligations (as defined in the Agreement) on
the terms and conditions set forth in the Agreement and any time further modified or amended, (f)
the Guarantors’ consent is not required to the effectiveness of the Amendment, and (g) no consent
by the Guarantors is required for the effectiveness of any future amendment, modification,
forbearance or other action with respect to the Agreement or any present or future Loan Document.

	 	 	 	 	 
	 	PIONEER COMPANIES, INC.

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	PIONEER (EAST), INC.

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	PIONEER LICENSING, INC.

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	IMPERIAL WEST CHEMICAL CO.

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	KNA CALIFORNIA, INC.

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	PIONEER WATER TECHNOLOGIES, INC.

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	KWT, INC.

 	 
	 	By:  	/s/ Gary L. Pittman
 	 
	 	Name:  	Gary L. Pittman 	 
	 	Title:  	Senior Vice President and Chief Financial Officerexv10w1

 

Exhibit 10.1

JOINDER AND SUPPLEMENT

     Reference is made to that certain Restated Credit Agreement dated as of November 19, 2004, as
amended by First Amendment to Restated Credit Agreement dated as of April 20, 2005, Second
Amendment to Restated Credit Agreement dated as of May 20, 2005, Third Amendment to Restated Credit
Agreement dated as of November 4, 2005 and Fourth Amendment to Restated Credit Agreement dated as
of November 16, 2006 (as amended, the “Credit Agreement”) by and among Plains Marketing,
L.P. (“Borrower”), Bank of America, N.A., as Administrative Agent and the Lenders party
thereto. Terms defined in the Credit Agreement are used herein with the same meaning.

     WHEREAS, pursuant to Section 2.1(e) of the Credit Agreement, Borrower may with the prior
approval of the Administrative Agent, not to be unreasonably withheld, cause from time to time an
increase in the Maximum Facility Amount by (a) adding to the Credit Agreement one or more
additional Lenders and/or (b) allowing one or more existing Lenders to increase their portion of
the Maximum Facility Amount; and

     WHEREAS, Borrower has proposed, and Administrative Agent has approved, that ING Capital LLC
and Mizuho Corporate Bank, Ltd. (each a “New Lender”) become Lenders under the Credit
Agreement, and that the other Lenders party hereto increase their Percentage Share of the Maximum
Facility Amount, resulting in an aggregate Maximum Facility Amount under the Credit Agreement of
$1,200,000,000 as of the date hereof; and

     WHEREAS, the New Lenders desire to become Lenders under the Credit Agreement and provide a
portion of the Maximum Facility Amount, and the other Lenders party hereto desire to increase their
Percentage Share of the Maximum Facility Amount;

     Accordingly:

     1. Each New Lender hereby agrees to become a Lender under the Credit Agreement and effective
as of June 20, 2007 provide a Percentage Share of the Maximum Facility Amount as follows:

	 	 	 
	 	 	Percentage Share of
	New Lender	 	Maximum Facility Amount
	ING Capital LLC
	 	$50,000,000
	Mizuho Corporate Bank, Ltd.
	 	$45,000,000

     2. Each New Lender (i) confirms that it has received a copy of the Credit Agreement, together
with copies of the financial statements referred to in Section 6.2 thereof and such other documents
and information as it has deemed appropriate to make its own credit analysis and decision to enter
into this Joinder and Supplement; (ii) agrees that it will, independently and without reliance upon
Administrative Agent or any other Lender and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit decisions in taking or not taking
action under the Credit Agreement; (iii) appoints and authorizes Administrative Agent to take such
action as agent on its behalf and to exercise such

1

 

powers and discretion under the Credit Agreement as are delegated to Administrative Agent by
the terms thereof, together with such powers and discretion as are reasonably incidental thereto;
(iv) agrees that it will perform in accordance with their terms all of the obligations that by the
terms of the Credit Agreement are required to be performed by it as a Lender; (v) attaches any U.S.
Internal Revenue Service or other forms required under Section 10.5, and (vi) attaches an
Administrative Questionnaire with respect to such New Lender.

     3. Each existing Lender a party hereto hereby agrees effective as of June 20, 2007 to increase
its Percentage Share of the Maximum Facility Amount as follows:

	 	 	 	 	 	 	 
	 	 	Existing Percentage	 	 	 	New Percentage
	 	 	Share of Maximum	 	 	 	Share of Maximum
	Lender	 	Facility Amount	 	Increase	 	Facility Amount
	BNP Paribas
	 	$175,000,000.00	 	$20,000,000	 	$195,000,000.00
	Fortis Capital Corp.
	 	$170,000,000.00	 	$25,000,000	 	$195,000,000.00
	Societe Generale
	 	$100,000,000.00	 	$20,000,000	 	$120,000,000.00
	JPMorgan Chase Bank
	 	$75,000,000.00	 	$20,000,000	 	$95,000,000.00
	Commerzbank AG, New York
	 	$55,000,000.00	 	$20,000,000	 	$75,000,000.00
	and Grand Cayman Branches
	 	 	 	 	 	 

     4. Following the execution of this Joinder and Supplement, it will be delivered to
Administrative Agent for acceptance and recording. The effective date for this Joinder and
Supplement (the “Effective Date”) shall be the date hereof, and upon such effectiveness each New
Lender shall be a Lender under the Credit Agreement and, to the extent provided herein and in the
Credit Agreement, have the rights and obligations of a Lender thereunder, the Percentage Share of
the Maximum Facility Amount of each other Lender a party hereto shall be increased as set forth
herein, and the Percentage Shares of the Maximum Facility Amount and Percentage Shares of each
Lender shall be as set forth on Schedule II attached hereto.

     5. Each New Lender hereby approves the following Financing Requests, and each other Lender
party hereto hereby confirms that it has previously approved such Financing Requests, which specify
a funding date of June 20, 2007 (except as to the Financing Request in clause (b) below, which is
to be funded in July 2007), and each New Lender and each other Lender party hereto hereby agrees
that such approval shall apply with respect to its portion of the Maximum Facility Amount agreed to
hereby:

	 	(a)	 	Financing Request-Initial dated May 1, 2007 with respect to a Delivery Month of June,
2007 and an Initial Financing Request of $677,300,000 and related Financing Request-Final
dated June 5, 2007 with Final Financing Request of $693,800,000.
	 
	 	(b)	 	Financing Request-Initial dated June 5, 2007 with respect to a Delivery Month of July,
2007 and an Initial Financing Request of $761,200,000.
	 
	 	(c)	 	Special Financing Request 2007 #10.2 dated June 5, 2007 totaling $7,000,000.
	 
	 	(d)	 	Special Financing Request 2007 #11.2 dated June 5, 2007 totaling $28,000,000.
	 
	 	(e)	 	Special Financing Request 2007 #12.2 dated June 5, 2007 totaling $59,700,000.
	 
	 	(f)	 	Special Financing Request 2007 #13.2 dated June 5, 2007 totaling $22,700,000.

2

 

	 	(g)	 	Special Financing Request 2007 #14.2 dated June 5, 2007 totaling $26,700,000.
	 
	 	(h)	 	Special Financing Request 2007 #15.1 dated June 5, 2007 totaling $29,900,000.
	 
	 	(i)	 	Special Financing Request 2007 #16.1 dated June 5, 2007 totaling $19,800,000.

     6. This Joinder and Supplement shall be governed by, and construed in accordance with, the
Laws of the State of New York.

     7. This Joinder and Supplement 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 taken together shall constitute one and the same agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

3

 

     IN WITNESS WHEREOF, each New Lender and each other Lender a party hereto has caused this
Agreement to be executed by its officers thereunto duly authorized as of the date specified
thereon.

	 	 	 	 	 
	 	ING CAPITAL LLC, a New Lender

 	 
	 	By:  	/s/ Cheryl Labelle
 	 
	 	 	Name:  	Cheryl Labelle 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD.,

a New Lender

 	 
	 	By:  	/s/ Raymond Ventura
 	 
	 	 	Name:  	Raymond Ventura 	 
	 	 	Title:  	Deputy General Manager 	 
	 

	 	 	 	 	 
	 	BNP PARIBAS, Lender

 	 
	 	By:  	/s/ Edward K. Chin
 	 
	 	 	Name:  	Edward K. Chin 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                       /s/ Jordan Nenoff
 	 
	 	 	Name:  	Jordan Nenoff 	 
	 	 	Title:  	Director 	 
	 

	 	 	 	 	 
	 	FORTIS CAPITAL CORP., Lender

 	 
	 	By:  	/s/ Chad Clark
 	 
	 	 	Name:  	Chad Clark 	 
	 	 	Title:  	Sr. Vice President 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                     /s/ Irene C. Rummel
 	 
	 	 	Name:  	Irene C. Rummel 	 
	 	 	Title:  	Senior Vice President 	 
	 

4

 

	 	 	 	 	 
	 	SOCIETE GENERALE, Lender

 	 
	 	By:  	/s/ Chung-Taek Oh
 	 
	 	 	Name:  	Chung-Taek Oh 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                                                  /s/ Barbara Paulsen
 	 
	 	 	Name:  	Barbara Paulsen 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., Lender

 	 
	 	By:  	/s/ Tara Narasiman
 	 
	 	 	Name:  	Tara Narasiman 	 
	 	 	Title:  	Associate 	 
	 

	 	 	 	 	 
	 	COMMERZBANK AG, NEW YORK AND GRAND
CAYMAN BRANCHES, Lender

 	 
	 	By:  	/s/ Andrew Campbell
 	 
	 	 	Name:  	Andrew Campbell 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                                                /s/ Barbara Stacks
 	 
	 	 	Name:  	Barbara Stacks 	 
	 	 	Title:  	Assistant Vice President 	 
	 

5

 

Accepted
this 15th day of June, 2007

BANK OF AMERICA, N.A., Administrative Agent

	 	 	 	 	 
	By:

	 	/s/ Christen A. Lacey
	 	 
	 

	 	 	 	 
	 

	 	Christen A. Lacey, Principal	 	 

     Plains Marketing hereby approves (i) each of ING Capital LLC and Mizuho Corporate Bank, Ltd.
as new Lenders and (ii) the increased Percentage Shares of the Maximum Facility Amount for each of
BNP Paribas, Fortis Capital Corp., Societe Generale, JPMorgan Chase Bank and Commerzbank AG, New
York and Grand Cayman Branches, as of this ___day of June, 2007, and agrees to pay to
Administrative Agent for the account of such Lenders the following fees:

	 	 	 	 	 
	Lender	 	Fee
	ING Capital LLC

	 	$	5,000.00	 
	Mizuho Corporate Bank, Ltd.

	 	$	4,500.00	 
	BNP Paribas

	 	$	2,000.00	 
	Fortis Capital Corp.

	 	$	2,500.00	 
	Societe Generale

	 	$	2,000.00	 
	JPMorgan Chase Bank

	 	$	2,000.00	 
	Commerzbank AG, New York

	 	$	2,000.00	 
	and Grand Cayman Branches
	 	 	 	 

     Plains Marketing hereby represents and warrants that no Event of Default has occurred which is
continuing.

	 	 	 	 	 
	PLAINS MARKETING, L.P.	 	 
	 
	 	 	 	 
	By:

	 	Plains Marketing GP, Inc., General Partner
	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	By:

	 	/s/ Al Swanson
 

Al Swanson, Vice President and Treasurer
	 	 

6

 

SCHEDULE II

LENDER SCHEDULE

	 	 	 	 	 	 	 	 	 
	 	 	Percentage Share of	 	 	 	 
	 	 	Maximum Facility	 	 	Percentage	 
	Lender	 	Amount	 	 	Share1	 
	Bank of America, N.A.
	 	$	110,000,000.00	 	 	 	9.166667	%
	BNP Paribas
	 	$	195,000,000.00	 	 	 	16.250000	%
	Fortis Capital Corp.
	 	$	195,000,000.00	 	 	 	16.250000	%
	Societe Generale
	 	$	120,000,000.00	 	 	 	10.000000	%
	Wachovia Bank, National Association
	 	$	75,000,000.00	 	 	 	6.250000	%
	JPMorgan Chase Bank, N.A.
	 	$	95,000,000.00	 	 	 	7.916667	%
	Commerzbank AG,
New York and Grand Cayman Branches
	 	$	75,000,000.00	 	 	 	6.250000	%
	The Bank of Nova Scotia
	 	$	100,000,000.00	 	 	 	8.333333	%
	SunTrust Bank
	 	$	55,000,000.00	 	 	 	4.583333	%
	Bank of Scotland
	 	$	15,000,000.00	 	 	 	1.250000	%
	Wells Fargo Bank, N.A.
	 	$	35,000,000.00	 	 	 	2.916667	%
	DnB NOR Bank ASA
	 	$	35,000,000.00	 	 	 	2.916667	%
	ING Capital LLC
	 	$	50,000,000.00	 	 	 	4.166667	%
	Mizuho Corporate Bank, Ltd.
	 	$	45,000,000.00	 	 	 	3.750000	%
	 
	TOTALS
	 	$	1,200,000,000.00	 	 	 	100.000000	%

1Rounded to six decimal places

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]