Document:

nwpg_ex101.htm

EXHIBIT 10.1

 

CONVERSION AND SUBSCRIPTION AGREEMENT

THIS AGREEMENT is made as of December 28, 2012, by and between NEWPORT GOLD, INC., a Nevada corporation (the “Company”), and ALEX JOHNSTON, an individual (the “Subscriber”).

RECITALS

WHEREAS, as of December 1, 2012, Derek Bartlett (“Bartlett) is owed U.S. $370,927 from the Company for accrued officer salaries (the “Bartlett Debt”);

WHEREAS, through an Assignment Agreement dated as of the date hereof, Bartlett assigned the Bartlett Debt to the Subscriber (the “Assigned Bartlett Debt”);

WHEREAS, the Subscriber has agreed to convert the Assigned Bartlett Debt into 18,546,350 shares of common stock of the Company (the “Shares”), and the Company has agreed to issue the Shares to the Subscriber, in full and complete payment and settlement of the Assigned Bartlett Debt;

NOW, THEREFORE, in consideration of the mutual covenants, agreements and understandings herein contained, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

1.           Conversion and Share Subscription.  The Subscriber hereby agrees to the convert the Assigned Bartlett Debt into the Shares, and the Company hereby agrees to issue the Shares to the Subscriber, in full and complete settlement of the Assigned Bartlett Debt.

2.           Effect of Conversion and Share Subscription.  The Subscriber agrees that, upon execution of this Agreement and delivery of the stock certificates evidencing the Shares, the Assigned Bartlett Debt and any and all amounts due or accrued to the Subscriber for the Assigned Bartlett Debt, are forever cancelled and the obligations of the Company thereunder are considered satisfied in full.

3.           Representations, Warranties and Covenants of Subscriber.  The Subscriber represents, warrants and agrees as follows:

(a)          The Subscriber understands that the Shares are being offered and sold to the Subscriber in reliance on an exemption from the registration requirements of United States federal and state securities laws under Regulation S promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Subscriber set forth herein in order to determine the applicability of such exemptions and the suitability of the Subscriber to acquire the Shares.

 

  

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(b)           The Subscriber is not a U.S. Person (as defined below) and is not acquiring the Shares for the account or benefit of a U.S. Person.  A U.S. Person means any one of the following:

 

	
(i)   

	
Any natural person resident in the United States;

	

(ii)   

	

Any partnership or corporation organized or incorporated under the laws of the United States;

	
(iii)   

	
Any estate of which any executor or administrator is a U.S. person;

	
(iv)   

	
Any trust of which any trustee is U.S. person;

	
(v)   

	
Any agency or branch of a foreign entity located in the United States;

	

(vi)   

	

Any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person;

	

(vii)   

	

Any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and

 

	

(viii)   

	

Any partnership or corporation if (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized, incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural persons, estates or trusts.

 

(c)          The Subscriber acknowledges that at the time of the origination of contact concerning this Agreement and the date of the execution and delivery of this Agreement, the Subscriber was outside of the United States.

(d)          The Subscriber will not, during the period commencing on the date of issuance of the Shares and ending on the first anniversary of such date, or such shorter period as may be permitted by Regulation S or other applicable securities law (the “Restricted Period”), offer, sell, pledge or otherwise transfer the Shares in the United States, or to a U.S. Person for the account or for the benefit of a U.S. Person, or otherwise in a manner that is not in compliance with Regulation S.

(e)          The Subscriber will, after expiration of the Restricted Period, offer, sell, pledge or otherwise transfer the Shares only pursuant to registration under the Securities Act or an available exemption therefrom and, in accordance with all applicable state and foreign securities laws.

(f)           Neither the Subscriber nor or any person acting on his/her/its behalf has engaged, nor will engage, in any “directed selling efforts” as that term is defined in Rule 902 of Regulation S to a U.S. Person with respect to the Shares and the Subscriber and any person acting on his/her/its behalf have complied and will comply with the “offering restrictions” requirements of Regulation S under the Securities Act.

 

  

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(g)          The transactions contemplated by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of a plan or scheme to evade the registration requirements of the Securities Act.

(h)          Neither the Subscriber nor any person acting on his/her/its behalf has undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for any of the Shares.  The Subscriber agrees not to cause any advertisement of the Shares to be published in any newspaper or periodical or posted in any public place and not to issue any circular relating to the Shares, except such advertisements that include the statements required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories, and only in compliance with any local applicable securities laws.

(i)           The Subscriber agrees to resell the Shares only in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration; and agrees not to engage in hedging transactions with regard to the Shares unless in compliance with the Securities Act.

(j)           The Subscriber understands that any and all certificates representing the Shares and any and all securities issued in replacement thereof or in exchange therefor shall bear a legend to the effect that transfer of the Shares is prohibited except in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act, or pursuant to an available exemption from registration; and that hedging transactions may not be conducted unless in compliance with the Securities Act.

(k)          The Subscriber hereby acknowledges and agrees to the Company making a notation on its records or giving instructions to the registrar and transfer agent of the Company in order to implement the restrictions on transfer set forth and described in this Agreement.

 

(l)           The Subscriber acknowledges that the Subscriber has had the opportunity to ask questions of, and receive answers from the Company or any person acting on its behalf concerning the Company and its business and to obtain any additional information, to the extent possessed by the Company (or to the extent it could have been acquired by the Company without unreasonable effort or expense) necessary to verify the accuracy of the information received by the Subscriber.  In connection therewith, the Subscriber acknowledges that the Subscriber has had the opportunity to discuss the Company’s business, management and financial affairs with the Company’s management or any person acting on its behalf.  The Subscriber has received and reviewed all the information, both written and oral, that it desires.  Without limiting the generality of the foregoing, the Subscriber has been furnished with or has had the opportunity to acquire, and to review, (i) copies of the Company’s most recent Annual Report on Form 10-K filed with the SEC and any Form 10-Q and Form 8-K filed thereafter (the “SEC Filings”), and other publicly available documents, and (ii) all information, both written and oral, that it desires with respect to the Company’s business, management, financial affairs and prospects. In determining whether to make this investment, the Subscriber has relied solely on the Subscriber’s own knowledge and understanding of the Company and its business based upon the Subscriber’s own due diligence investigations and the information furnished pursuant to this paragraph.  The Subscriber understands that no person has been authorized to give any information or to make any representations which were not furnished pursuant to this paragraph and the Subscriber has not relied on any other representations or information.

 

  

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(m)         The Subscriber has all requisite legal and other power and authority to execute and deliver this Agreement and to carry out and perform the Subscriber’s obligations under the terms of this Agreement.  This Agreement constitutes a valid and legally binding obligation of the Subscriber enforceable in accordance with its terms.

(n)         To the extent the Subscriber deems necessary, the Subscriber has reviewed with the Subscriber’s own tax advisors the tax consequences of this investment and the transactions contemplated by this Agreement.  The Subscriber relies solely on such advisors and not on any statements or representations of the Company or any of its agents.  The Subscriber understands that the Subscriber (and not the Company) shall be responsible for the Subscriber’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement.

(o)         The Subscriber is not subscribing for the Shares as a result of or subsequent to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, or presented at any seminar or meeting, or any solicitation of a subscription by persons previously not known to the Subscriber in connection with investment securities generally.

(p)         The Subscriber understands that the Company is under no obligation to register the Shares under the Securities Act, or to assist the Subscriber in complying with the Shares Act or the securities laws of any state of the United States or of any foreign jurisdiction.

(q)         The Subscriber (i) is experienced in making investments of the kind described in this Agreement, (ii) has the financial ability to bear the economic risk of his/her/its investment, has adequate means for providing for his/her/its current needs and personal contingencies and has no need for liquidity with respect to his/her/its investment in the Company, and (iii) has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the prospective investment in the Shares.  The Subscriber is acquiring the Shares for his/her/its own account for investment and not with a view to resale or other distribution.

(r)          The Subscriber is not an underwriter of, or dealer in, the Shares, and the Subscriber is not participating, pursuant to a contractual agreement, in the distribution of the Shares.

(s)         The Subscriber agrees that any resale of the Shares during the “distribution compliance period” as defined in Rule 902(f) to Regulation S shall only be made in compliance with exemptions from registration afforded by Regulation S.  Further, any such sale of the Shares in any jurisdiction outside of the United States will be made in compliance with the securities laws of such jurisdiction.  The Subscriber will not offer to sell or sell the Shares in any jurisdiction unless the Subscriber obtains all required consents, if any.

 

(t)          The Subscriber understands and agrees that the Company will refuse to register any transfer of the Shares not made in accordance with the provisions of Regulation S, pursuant to an effective registration statement under the Securities Act or pursuant to an available exemption from the registration requirements of the Securities Act.

 

  

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(u)         There are no actions, suits, proceedings or investigations pending against the Subscriber or the Subscriber’s properties before any court or governmental agency (nor, to the Subscriber’s knowledge, is there any threat thereof) which would impair in any way the Subscriber’s ability to enter into and fully perform the Subscriber’s commitments and obligations under this Agreement or the transactions contemplated hereby.

(v)         The execution, delivery and performance of and compliance with this Agreement, and the issuance of the Shares will not result in any material violation of, or conflict with, or constitute a material default under, any of Subscriber’s articles of incorporation or bylaws, if applicable, or any of the Subscriber’s material agreements nor result in the creation of any mortgage, pledge, lien, encumbrance or charge against any of the assets or properties of the Subscriber or the Shares.

(w)         Subscriber acknowledges that the Shares are speculative and involve a high degree of risk and that the Subscriber can bear the economic risk of the purchase of the Shares, including a total loss of his/her/its investment.  Subscriber acknowledges that he/she/it has carefully reviewed and considered the factors described under “Risk Factors” in the Company’s SEC Filings.

 

(x)          The Subscriber recognizes that no federal, state or foreign agency has recommended or endorsed the purchase of the Shares.

 

(y)         This Agreement does not contain any untrue statement of a material fact concerning the Subscriber.

4.           Representations and Warranties of the Company.  The Company represents and warrants to the Subscriber as follows:

(a)          The Company has been duly organized and is validly existing as a corporation under the laws of the State of Nevada.

(b)          The Company has all such power and authority to enter into, deliver and perform this Agreement.

(c)          The Company has not offered the Shares covered by this Agreement to any person in the United States or to any U.S. Person or for the account or benefit of any U.S. Person.

(d)          In regard to this Agreement, the Company has not conducted any “directed selling efforts” as that term is defined in Rule 902 of Regulation S, nor has the Company conducted any general solicitation relating to the offer and sale of the Shares to persons resident within the United States.

(e)          All necessary action has been duly and validly taken by the Company to authorize the execution, delivery and performance of this Agreement by the Company, and the issuance of the Shares to be issued by the Company pursuant to this Agreement, and this Agreement has been duly and validly authorized, executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles.

 

  

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5.            Indemnification.  The Subscriber agrees to indemnify and hold harmless the Company, its officers, directors, managers, employees, shareholders, members and affiliates, and any person acting on behalf of the Company, from and against any and all damage, loss, liability, cost and expense (including reasonable attorneys’ fees) which any of them may incur by reason of the failure by the Subscriber to fulfill any of the terms and conditions of this Agreement, or by reason of any breach of the representations and warranties made by the Subscriber herein, or in any other document provided by the Subscriber to the Company. All representations, warranties and covenants of each of the Subscriber and the Company contained herein shall survive the date of this Agreement.

6.            Miscellaneous.

(a)          This Agreement is binding upon and inures to the benefit of the parties hereto and to their respective heirs, executors, administrators, legal representatives, successors and assigns.

(b)          This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and may be amended only by a written execution by all parties.

(c)          This Agreement shall be enforced, governed and construed in all respects in accordance with the laws of the State of Nevada.

(d)          Subscriber acknowledges that it has been advised to consult with his/her/its own attorney regarding this Agreement and Subscriber has done so to the extent that Subscriber deems appropriate.

(e)          This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.  Delivery of a facsimile or electronic signature shall be deemed to constitute delivery of an original signature.

[signature page follows]

 

  

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IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto as of the date first above written.

 

	 	
THE COMPANY:

 

NEWPORT GOLD, INC.

	 
	 	 	 	 
	 	
By: 

	/s/ Derek Bartlett	 
	 	Name: 	Derek Bartlett	 
	 	Title: 	President	 

	 	
THE SUBSCRIBER:

	 
	 	 	 	 
	
 

	
By: 

	/s/ Alex Johnston	 
	 	 	ALEX JOHNSTON	 
	 	 	 	 
	 	 	
Address:

 

Ocean Sky 29-D – Torra B

Coco Del Mar

Panama City, Panama

	 

 

 

 7FULLYEXECUTED-AMP-ThirdAmendment1

Exhibit 10.1

EXECUTION VERSION 

THIRD AMENDMENT AND WAIVER TO CREDIT AGREEMENT

THIS THIRD AMENDMENT AND WAIVER TO CREDIT AGREEMENT (this
“Waiver”) dated as of December 26, 2012, is by and among AMERICAN MIDSTREAM, LLC, a Delaware limited liability company (the “Borrower”), AMERICAN MIDSTREAM PARTNERS, LP, a Delaware limited partnership (“Parent”), BANK OF AMERICA, N.A., as administrative agent (in such capacity, together with its successors in such capacity, the “Administrative Agent”) for the lenders party to the Credit Agreement referred to below (the “Lenders”), and the Lenders party hereto.

R E C I T A L S

A.The Borrower, Parent, the Lenders, the Administrative Agent and the other agents referred to therein are parties to that certain Credit Agreement dated as of August 1, 2011, as amended by that certain First Amendment to Credit Agreement dated as of November 15, 2011, and that certain Second Amendment to Credit Agreement dated as of June 27, 2012 (the “Credit Agreement”), pursuant to which the Lenders have made certain Loans and provided certain Commitments (subject to the terms and conditions thereof) to the Borrower.

B.The Borrower has requested that compliance with Section 7.19(b) (Consolidated Total Leverage Ratio) of the Credit Agreement be waived for the fiscal quarter ending December 31, 2012, subject to the limitations and conditions set forth herein.

C.The Borrower, Parent, the Administrative Agent and the Required Lenders have agreed, subject to the terms and conditions set forth herein, to amend the Credit Agreement as more fully described herein.

D.The Lenders signatory hereto and the Administrative Agent are willing to consent to each of such waiver and such amendment under the Credit Agreement, in each case, as more fully described herein, and upon satisfaction of the conditions set forth herein, this Waiver shall become effective.

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

Section 1.    Defined Terms.    Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement. Unless otherwise indicated, all article, schedule, exhibit and section references in this Waiver refer to articles and sections of the Credit Agreement.

Section 2.    Waivers to Credit Agreement as of the Amendment and Waiver Effective Date. As of the Amendment and Waiver Effective Date, the Lenders agree to waive Parent and Borrower’s compliance with Section 7.19(b) of the Credit Agreement (Consolidated Total Leverage Ratio) as 

of the end of the fiscal quarter ending December 31, 2012; provided, that, such waiver shall immediately be void and of no further force and effect if either (a) the Consolidated Total Leverage Ratio is greater than 4.50 to 1.00 as of January 31, 2013, utilizing

for purposes of such calculation Consolidated Total Indebtedness as of January 31, 2013 and Consolidated EBITDA for the period of four fiscal quarters ending December 31, 2012 or (b) Parent and Borrower have not delivered a certificate in form and substance reasonably satisfactory to the Administrative Agent by February 11, 2013, demonstrating that such Consolidated Total Leverage Ratio (as so calculated) was not greater than 4.50 to 1.00 as of January 31, 2013.

Section 3.    Amendments to Credit Agreement as of the Amendment and Waiver Effective Date.    As of the Amendment and Waiver Effective Date, the Credit Agreement is amended as follows:

3.1    Amendment to Section 1.01 (Defined Terms). The following definition is hereby added to Section 1.01 of the Credit Agreement where alphabetically appropriate:

“Leverage Condition Period” has the meaning specified in Section 6.01(c). ”

3.2    Amendment to Section 6.01.    Section 6.01 of the Credit Agreement is hereby amended by adding a new clause (c) thereto as follows:

“ (c) as soon as available, but in any event within 30 days after the end of each calendar month of each fiscal year of Parent (other than any calendar month that is the last calendar month of a given fiscal quarter), commencing with the calendar month ending January 31, 2013, a statement of consolidated revenue, consolidated gross margin, consolidated EBITDA, consolidated discounted cash flow and Capital Expenditures of Parent and its Subsidiaries for such calendar month and for the portion of Parent’s fiscal year then ended, and a statement of Consolidated Total Indebtedness as at the end of such calendar month, all in reasonable detail and in a form reasonably satisfactory to the Administrative Agent, such statements to be certified by a Responsible Officer of the General Partner as fairly presenting in all material respects (to the extent of the information set forth therein) the financial condition of Parent and its Subsidiaries; provided that Parent and the Borrower shall only be required to provide financial statements pursuant to this clause (c) for calendar months ending after December 31, 2013 if, at the end of any such calendar month, the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a) showed a Consolidated Total Leverage Ratio in excess of 4.00 to 1.00, or Parent and the Borrower, or the Administrative Agent by notice to the Borrower, otherwise reasonably believe that the Consolidated Total Leverage Ratio as of the end of the most recently ended fiscal quarter was in excess of 4.00 to 1.00 (any period of time during which Parent and the Borrower are required to deliver financial statements pursuant to this proviso, a “Leverage Condition Period”).”

3.3    Amendment to Section 6.02(l).  Section 6.02(l) of the Credit Agreement is hereby amended and restated in its entirety as follows:

“(l) (i) for all calendar months ending during 2013 and any other calendar month ending during a Leverage Condition Period (other than, in each case, any calendar month that is the last calendar month of a given fiscal quarter), within 30 days after and as of the

end of each such calendar month, a report certified by Responsible Officer of the Borrower as to the volume of Hydrocarbons transported through the Interstate Pipelines and the Intrastate Pipelines and the volume of Hydrocarbons processed in the processing plants of the Loan Parties, each organized by major operating unit, in each case for such calendar month and (ii) within 45 days after and as of the end of each fiscal quarter of Parent, a report certified by Responsible Officer of the Borrower as to the volume of Hydrocarbons transported through the Interstate Pipelines and the Intrastate Pipelines and the volume of Hydrocarbons processed in the processing plants of the Loan Parties, each organized by major operating unit, in each case for such fiscal quarter;”

Section 4.    Conditions Precedent.    This Waiver shall become effective on the date (the “Amendment and Waiver Effective Date”) on which each of the following conditions is satisfied (or waived in accordance with Section 10.01 of the Credit Agreement):

4.1    The Administrative Agent shall have received executed counterparts (in such number as may be requested by the Administrative Agent) of this Waiver from the Administrative Agent, the Collateral Agent, the Required Lenders, Parent and the Borrower.

4.2    The Administrative Agent, the Arrangers and the Lenders shall have received all fees and other amounts due and payable on or prior to the Amendment and Waiver Effective Date, including (a) to the extent invoiced, reimbursement or payment of all out of pocket expenses required to be reimbursed or paid by the Borrower under the Credit Agreement, (b) all fees required to be paid pursuant to the terms of that certain Fee Letter dated as of December 19, 2012 between the Borrower, Parent, Bank of America, N.A. and Merrill Lynch, Pierce, Fenner & Smith and (c) an amount equal to 0.125% of the principal amount of the Commitments of each Lender, as of the Amendment and Waiver Effective Date, that executes this Waiver, which fees shall be paid to the Administrative Agent for the account of each such Lender and shall be fully earned on the Amendment and Waiver Effective Date.

Section 5.    Miscellaneous.

5.1    Confirmation. The provisions of the Loan Documents, as waived and amended hereby, shall remain in full force and effect in accordance with their terms following the effectiveness of this Waiver, without any other waiver, amendment or modification thereof.

5.2    Ratification  and  Affirmation;  Representations  and  Warranties.    Each of the undersigned does hereby adopt, ratify, and confirm the Credit Agreement and the other Loan Documents, as amended hereby, and its obligations thereunder. Each of the Borrower and Parent hereby (a) acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, notwithstanding the waivers contained herein and (b) represents and warrants to the Lenders that: (i) as of the date hereof, after giving effect to the terms of this Waiver, all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and 

correct in all respects), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and

warranties shall continue to be true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such specified earlier date and (ii) (A) as of the date hereof, no Default has occurred and is continuing and (B) immediately after giving effect to this Waiver, no Default will have occurred and be continuing.

5.3    Loan Document.    This Waiver and each agreement, instrument, certificate or document executed by the Borrower or any of its officers in connection therewith are "Loan Documents" as defined and described in the Credit Agreement and all of the terms and provisions of the Loan Documents relating to other Loan Documents shall apply hereto and thereto.

5.4    Counterparts. This Waiver may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Waiver by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart hereof.

5.5    NO  ORAL  AGREEMENT.    THIS WAIVER, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.

5.6    GOVERNING LAW. THIS WAIVER (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

5.7    Payment of Fees. All fees payable under this Waiver shall be payable in U.S. dollars in immediately available funds, free and clear of and without deduction for any and all present or future applicable taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto (with appropriate gross-up for withholding taxes). All of the fees described above in this Waiver shall be nonrefundable for any reason whatsoever and shall be in addition to any other fees, costs and expenses payable pursuant to the Credit Agreement or any other Loan Document.

5.8    RELEASE.    IN CONSIDERATION OF, AMONG OTHER THINGS, THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT AND THE LENDERS’ EXECUTION AND DELIVERY OF THIS WAIVER, THE PARENT AND THE BORROWER, ON BEHALF OF ITSELF AND ITS SUBSIDIARIES, HEREBY FOREVER AGREES AND COVENANTS NOT TO SUE OR PROSECUTE AGAINST THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT, ANY LENDER OR ANY OF THEIR RESPECTIVE AFFILIATES, SUBSIDIARIES, SHAREHOLDERS AND “CONTROLLING PERSONS” (WITHIN THE MEANING OF FEDERAL SECURITIES LAWS), AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, AND EACH AND ALL OF THE OFFICERS, DIRECTORS, PARTNERS, EMPLOYEES, AGENTS, ATTORNEYS AND OTHER REPRESENTATIVES OF  EACH  OF  THE  FOREGOING  IN  THEIR  RESPECTIVE  CAPACITIES  AS  SUCH

(COLLECTIVELY, THE “RELEASEES” AND EACH A “RELEASEE”) AND HEREBY FOREVER WAIVES, RELEASES AND DISCHARGES, TO THE FULLEST EXTENT PERMITTED BY LAW, EACH RELEASEE FROM ANY AND ALL CLAIMS, ACTIONS, SUITS, DEMANDS, CONTROVERSIES, TRESPASSES, JUDGMENTS, COSTS OR EXPENSES WHATSOEVER, THAT THE PARENT, THE BORROWER, OR ITS RESPECTIVE SUBSIDIARIES, NOW HAS OR HEREAFTER MAY HAVE, OF WHATSOEVER NATURE AND KIND, WHETHER KNOWN OR UNKNOWN, WHETHER NOW EXISTING OR HEREAFTER ARISING, WHETHER ARISING AT LAW OR IN EQUITY, AGAINST THE RELEASEES, BASED IN WHOLE OR IN PART ON FACTS, WHETHER OR NOT NOW KNOWN, EXISTING ON OR BEFORE THE AMENDMENT AND WAIVER EFFECTIVE DATE, THAT RELATE TO, ARISE OUT OF OR OTHERWISE ARE IN CONNECTION WITH: (I) ANY OR ALL OF THE LOAN DOCUMENTS OR TRANSACTIONS CONTEMPLATED THEREBY OR ANY ACTIONS OR OMISSIONS IN CONNECTION THEREWITH OR (II) ANY ASPECT OF THE DEALINGS OR RELATIONSHIPS BETWEEN OR AMONG THE PARENT, THE BORROWER AND THE OTHER LOAN PARTIES, ON THE ONE HAND, AND ANY OR ALL OF THE RELEASEES, ON THE OTHER HAND, RELATING TO ANY OR ALL OF THE LOAN DOCUMENTS OR TRANSACTIONS CONTEMPLATED THEREBY.

[signature pages follow]

IN WI1NESS WHEREOF, the parties hereto have caused this Waiver to be duly executed as of the date first written above.

AMERICAN MIDSTREAM, LLC,
as Borrower

By:    /s/ Daniel Campbell
Title: SVP and CFO

AMERICAN MIDSTREAM PARTNERS, LP,
as Parent

By:  American Midstream GP, LLC,
a  Delaware limited liability company, its sole general partner

By:    /s/ Daniel Campbell
Title: SVP and CFO

BANK OF AMERICA, N.A.,
as Administrative Agent and Collateral Agent

By: /s/ Kevin L. Ahart
Name:    Kevin L. Ahart
Title:    Vice President

BANK OF AMERICA, N.A.,
as a Lender and L/C Issuer

By:_ /s/ Adam H Fey     Name: Adam H. Fey
Title:   Director

CITIBANK, N.A.,
as a Co-Syndication Agent and a Lender
                        
By: /s/  Todd J. Mogil
Name
Title:    ToddJ. Mogil
Vicc Prcsident

COMERICA BANK,
as a Co-Syndication Agent and a Lender

By: /s/ Ekaterina Evseev
Name: Ekaterina Evseev
Title:   Assistant Vice President

COMPASS BANK,
as a Documentation Agent and a Lender

By:    /s/ Dorothy Marchand
Name: Dorothy Marchand
Title:  Executive Vice President

CAPITAL  ONE, NATIONAL  ASSOCIATION,
as a Lender

By: /s/ Wesley Fontana
Name: Wesley Fontana
Title: Vice President

U.S. BANK NATIONAL ASSOCIATION,
as a Co-Documentation Agent and a Lender

By: /s/ Justin M Alexander
Name:  Justin M.Alexndeer Title Senior Vice President

WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender

By: /s/ Andrew Ostrov

Name :    Andrew Ostrov
Title:    Director

RAYMOND JAMES BANK, N.A.,
as a Lender

By: /s/ Scott G. Alexrod
Name:  Scott G. Axelrod
Title:    Vice President

[Signature Page to Waiver to Credit Agreement]

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