Document:

exv4w1

 

EXHIBIT 4.1

 

NRP (Operating) LLC

and

 

First Supplement to Note Purchase Agreements

Dated as of July 19, 2005

	 	 	 
	Re:

	 	$100,000,000 5.05% Series D Senior Notes
	 

	 	Due July 19, 2020

 

 

 

NRP (Operating) LLC

 

Dated as of

July 19, 2005

To the Purchaser(s) named in

Schedule A hereto

Ladies and Gentlemen:

     This First Supplement to Note Purchase Agreements (the “Supplement”) is among NRP (Operating)
LLC, a Delaware limited liability company (the “Company”), and the institutional investors named on
Schedule A attached hereto (the “Purchasers”).

     Reference is hereby made to the separate and several Note Purchase Agreements each dated as of
June 19, 2003 (the “Note Purchase Agreements”) between the Company and the respective
purchasers listed on Schedule A thereto. All capitalized terms not otherwise defined herein shall
have the same meaning as specified in the Note Purchase Agreements. Reference is further made to
Section 4.13 of the Note Purchase Agreements which requires that, prior to the delivery of any
Additional Notes, the Company and each Additional Purchaser shall execute and deliver a Supplement.

     The Company hereby agrees with the Purchaser(s) as follows:

     1. Authorization of Notes. The Company has authorized the issue and sale of $100,000,000
aggregate principal amount of its 5.05% Series D Senior Notes due July 19, 2020 (the “Series D
Notes”). The Series D Notes, together with the Notes previously issued pursuant to the Note
Purchase Agreements and each series of Additional Notes which may from time to time hereafter be
issued pursuant to the provisions of Section 2.2 of the Note Purchase Agreements, are collectively
referred to as the “Notes” (such term shall also include any such notes issued in substitution
therefor pursuant to Section 13 of the Note Purchase Agreements). The Series D Notes shall be
substantially in the form set out in Exhibit 1 hereto with such changes therefrom, if any, as may
be approved by the Purchaser(s) and the Company.

     2. Sale and Purchase of Notes. Subject to the terms and conditions hereof and as set forth in
the Note Purchase Agreements and on the basis of the representations and warranties hereinafter set
forth, the Company agrees to issue and sell to each Purchaser, and each Purchaser agrees to
purchase from the Company, Series D Notes in the principal amount set forth opposite such
Purchaser’s name on Schedule A hereto at a price of 100% of the principal amount thereof on the
applicable Closing hereafter mentioned.

     3. Closings. The sale and purchase of the Series D Notes to be purchased by each Purchaser
shall occur at the offices of Chapman and Cutler LLP, 111 West Monroe Street, Chicago, Illinois
60603, at 10:00 a.m. Chicago time, on the date or dates set forth opposite each

 

 

Purchaser’s name on Schedule A, the first of which date shall occur on July 19, 2005
(the “First Closing”), and the second of which shall occur on January 19, 2006
(the “Second Closing”, and together with the First Closing being referred to, individually, as
a “Closing” and, collectively, as the “Closings”) or, in the case of each such Closing, on such
other Business Day thereafter as may be agreed upon by the Company and the Purchasers participating
in the related Closings. At each Closing, the Company will deliver to each Purchaser the Series D
Notes to be purchased by such Purchaser in the form of a single Series D Note (or such greater
number of Series D Notes in denominations of at least $250,000 as such Purchaser may request) dated
the date of such Closing and registered in such Purchaser’s name (or in the name of such
Purchaser’s nominee), against delivery by such Purchaser to the Company or its order of immediately
available funds in the amount of the purchase price therefor by wire transfer of immediately
available funds for the account of the Company to account number 01561106604 at The Huntington
National Bank, 919 Fifth Avenue, Huntington, West Virginia 25701, ABA Number 044000024. If at the
relevant Closing the Company shall fail to tender such Series D Notes to any Purchaser as provided
above in this Section 3, or any of the conditions specified in Section 4 shall not have been
fulfilled to any Purchaser’s satisfaction, such Purchaser shall, at such Purchaser’s election, be
relieved of all further obligations under this Supplement, without thereby waiving any rights such
Purchaser may have by reason of such failure or such nonfulfillment.

     4. Conditions to Closing. The obligation of each Purchaser to purchase and pay for the
Series D Notes to be sold to such Purchaser at each Closing is subject to the fulfillment to such
Purchaser’s satisfaction, prior to such Closing, of the conditions set forth in Section 4 of the
Note Purchase Agreements (but adjusted to reflect the Series D Notes to be purchased at such
Closing), except that the representations and warranties set forth in Section 5 of the Note
Purchase Agreements and Section 5 of the Subsidiary Guarantee shall be modified as set forth in
Exhibit A hereto, and subject to the following additional conditions:

     (a) Contemporaneously with such Closing, the Company shall sell to each Purchaser the
Series D Notes to be purchased by such Purchaser at such Closing as specified in Schedule A.

     (b) As a condition to the Second Closing, the Company shall have issued and sold 100%
of the Series D Notes to be issued and sold on the date of the First Closing in accordance
with the terms and provisions hereof.

     5. Required Prepayments. The Company will prepay the Series D Notes on the dates and in the
principal amounts as set forth on Schedule 5 attached hereto at par and without payment of the
Make-Whole Amount or any premium, provided that upon any partial prepayment of the Series D Notes
pursuant to Section 6 or Section 7 of this Supplement or purchase of the Series D Notes permitted
by Section 10 of this Supplement, the principal amount of each required prepayment of the Series D
Notes becoming due under this Section 5 of this Supplement on and after the date of such prepayment
or purchase shall be reduced in the same proportion as the aggregate unpaid principal amount of the
Series D Notes is reduced as a result of such prepayment or purchase.

-2-

 

     6. Optional Prepayments with Make-Whole Amount. The Company may, at its option, upon notice
as provided below, prepay at any time after the Second Closing all, or from time to time any part
of, the Series D Notes, in an aggregate principal amount not less than $5,000,000, in the case of a
partial prepayment, at 100% of the principal amount so prepaid, plus the applicable Make-Whole
Amount with respect to the Series D Notes determined for the prepayment date with respect to such
principal amount. The Company will give each holder of Series D Notes written notice of each
optional prepayment under this Section 6 of this Supplement not less than 30 days and not more than
60 days prior to the date fixed for such prepayment. Each such notice shall specify such date, the
aggregate principal amount of the Series D Notes to be prepaid on such date, the principal amount
of each Series D Note held by such holder to be prepaid (determined in accordance with Section 8 of
this Supplement), and the interest to be paid on the prepayment date with respect to such principal
amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to
the estimated Make-Whole Amount with respect to the Series D Notes due in connection with such
prepayment (calculated as if the date of such notice were the date of the prepayment), setting
forth the details of such computation. Two Business Days prior to such prepayment, the Company
shall deliver to each holder of Series D Notes a certificate of a Senior Financial Officer
specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

     7. Change in Control.

     (a) Notice of Change in Control or Control Event. The Company will, within five (5) Business
Days after any Responsible Officer has knowledge of the occurrence of any Change in Control or
Control Event, give written notice (the “Change of Control Notice”) of such Change in Control or
Control Event to each holder of Series D Notes unless notice in respect of such Change in Control
(or the Change of Control contemplated by such Control Event) shall have been given pursuant to
subparagraph (c) of this Section 7 of this Supplement. Such Change of Control Notice shall contain
and constitute an offer to prepay the Series D Notes as described in Section 7(c) of this
Supplement and shall be accompanied by the certificate described in Section 7(g) of this
Supplement.

     (b) Condition to Company Action. The Company will not take any action that consummates or
finalizes a Change in Control unless (i) at least 30 days prior to such action it shall have given
to each holder of Series D Notes written notice containing and constituting an offer to prepay the
Series D Notes as described in subparagraph (c) of this Section 7 of this Supplement, accompanied
by the certificate described in subparagraph (g) of this Section 7 of this Supplement, and (ii)
contemporaneously with such action, it prepays all Series D Notes required to be prepaid in
accordance with this Section 7 of this Supplement.

     (c) Offer to Prepay Notes. The offer to prepay Series D Notes contemplated by paragraph (a)
and (b) of this Section 7 of this Supplement shall be an offer to prepay, in accordance with and
subject to this Section 7 of this Supplement, all, but not less than all, the Series D Notes held
by each holder (in this case only, “holder” in respect of any Series D Note registered in the name
of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified
in such Change of Control Notice (the “Proposed Prepayment

-3-

 

Date”). If such Proposed Prepayment Date is in connection with an offer contemplated by
subparagraph (a) of this Section 7 of this Supplement, such date shall be not less than 30 days and
not more than 120 days after the date of such offer (if the Proposed Prepayment Date shall not be
specified in such offer, the Proposed Prepayment Date shall be the first Business Day after the
45th day after the date of such offer).

     (d) Acceptance. A holder of Series D Notes may accept the offer to prepay made pursuant to
this Section 7 of this Supplement by causing a notice of such acceptance to be delivered to the
Company not later than 15 days after receipt by such holder of the most recent offer of prepayment.
A failure by a holder of Series D Notes to respond to an offer to prepay made pursuant to this
Section 7 of this Supplement shall be deemed to constitute a rejection of such offer by such
holder.

     (e) Prepayment. Prepayment of the Series D Notes to be prepaid pursuant to this Section 7 of
this Supplement shall be at 100% of the principal amount of the Series D Notes together with
accrued and unpaid interest thereon. The prepayment shall be made on the Proposed Prepayment Date
except as provided in subparagraph (f) of this Section 7 of this Supplement.

     (f) Deferral Pending Change in Control. The obligation of the Company to prepay Notes
pursuant to the offers required by subparagraph (c) and accepted in accordance with subparagraph
(d) of this Section 7 of this Supplement is subject to the occurrence of the Change in Control in
respect of which such offers and acceptances shall have been made. In the event that such Change
in Control has not occurred on the Proposed Prepayment Date in respect thereof, the prepayment
shall be deferred until, and shall be made on, the date on which such Change in Control occurs.
The Company shall keep each holder of Series D Notes reasonably and timely informed of (i) any such
deferral of the date of prepayment, (ii) the date on which such Change in Control and the
prepayment are expected to occur, and (iii) any determination by the Company that efforts to effect
such Change in Control have ceased or been abandoned (in which case the offers and acceptances made
pursuant to this Section 7 of this Supplement in respect of such Change in Control shall be deemed
rescinded).

     (g) Officer’s Certificate. Each offer to prepay the Series D Notes pursuant to this Section 7
of this Supplement shall be accompanied by a certificate, executed by the Senior Financial Officer
of the Company and dated the date of such offer, specifying: (i) the Proposed Prepayment Date;
(ii) that such offer is made pursuant to this Section 7 of this Supplement; (iii) the principal
amount of each Series D Note offered to be prepaid (which shall be 100% of each such Series D
Note); (iv) the interest that would be due on each Series D Note offered to be prepaid, accrued to
the Proposed Prepayment Date; (v) that the conditions of this Section 7 of this Supplement have
been fulfilled; and (vi) in reasonable detail, the nature and date or proposed date of the Change
in Control.

     (h) Certain Definitions. “Change in Control” shall be deemed to have occurred if

     (i) the Parent ceases to own directly all of the membership interests of the Company,

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     (ii) the General Partner ceases to own directly all of the general partner interests of
the Parent, or

     (iii) Corbin J. Robertson, Jr., the WPP Group, NRP Investment L.P. and/or one
or more of their direct or indirect wholly-owned Subsidiaries cease to own, in the
aggregate, more than 50% of the partnership interests of the General Partner.

     “Control Event” means (i) the execution by the Company or any of its Subsidiaries or
Affiliates of any agreement or letter of intent with respect to any proposed transaction or event
or series of transactions or events which, individually or in the aggregate, may reasonably be
expected to result in a Change in Control, or

     (ii) the execution of any written agreement which, when fully performed by the parties
thereto, would result in a Change in Control.

     (i) All calculations contemplated in this Section 7 of this Supplement involving the capital
stock, limited liability company or other equity interest of any Person shall be made with the
assumption that all convertible securities of such Person then outstanding and all convertible
securities issuable upon the exercise of any warrants, options and other rights outstanding at such
time were converted at such time and that all options, warrants and similar rights to acquire
shares of capital stock or limited liability company or other equity interest of such Person were
exercised at such time.

     8. Allocation of Partial Prepayments. In the case of each partial prepayment of the Series D
Notes pursuant to Section 5 of this Supplement, the principal amount of the Series D Notes to be
prepaid shall be allocated among all of the Series D Notes at the time outstanding in proportion,
as nearly as practicable, to the respective unpaid principal amounts thereof. In the case of each
partial prepayment of the Series D Notes pursuant to Section 6 of this Supplement, the principal
amount of the Series D Notes to be prepaid shall be allocated among all of the Series D Notes at
the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal
amounts thereof not theretofore called for prepayment.

     9. Maturity; Surrender, Etc. In the case of each prepayment of Series D Notes pursuant to
Sections 5, 6 or 7 of this Supplement, the principal amount of each Series D Note to be prepaid
shall mature and become due and payable on the date fixed for such prepayment, together with
interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if
any. From and after such date, unless the Company shall fail to pay such principal amount when so
due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest
on such principal amount shall cease to accrue. Any Series D Note paid or prepaid in full shall be
surrendered to the Company and cancelled and shall not be reissued, and no Series D Note shall be
issued in lieu of any prepaid principal amount of any Series D Note.

     10. Purchase of Notes. The Company will not and will not permit any Affiliate to purchase,
redeem, prepay or otherwise acquire,

-5-

 

directly or indirectly, any of the outstanding Series D Notes except upon the payment or
prepayment of the Series D Notes in accordance with the terms of the Note Purchase Agreements, this
Supplement and the Series D Notes. The Company will promptly cancel all Series D Notes acquired by
it or any Affiliate pursuant to any payment, prepayment or purchase of Series D Notes pursuant to
any provision of the Note Purchase Agreements or this Supplement and no Series D Notes may be
issued in substitution or exchange for any such Series D Notes.

     11. Make-Whole Amount. The term “Make-Whole Amount” means, with respect to any Series D Note,
an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments
with respect to the Called Principal of such Series D Note over the amount of such Called
Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes
of determining the Make-Whole Amount, the following terms have the following meanings:

     “Called Principal” means, with respect to any Series D Note, the principal of such
Series D Note that is to be prepaid pursuant to Section 6 of this Supplement or has become
or is declared to be immediately due and payable pursuant to Section 12.1 of the Note
Purchase Agreements, as the context requires.

     “Discounted Value” means, with respect to the Called Principal of any Series D Note,
the amount obtained by discounting all Remaining Scheduled Payments with respect to such
Called Principal from their respective scheduled due dates to the Settlement Date with
respect to such Called Principal, in accordance with accepted financial practice and at a
discount factor (applied on the same periodic basis as that on which interest on the Series
D Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal.

     “Reinvestment Yield” means, with respect to the Called Principal of any Series D Note,
 .50% over the yield to maturity implied by (i) the yields reported, as of 10:00 A.M. (New
York City time) on the second Business Day preceding the Settlement Date with respect to
such Called Principal, on the display designated as “Page PX1” of the Bloomberg Financial
Markets Services Screen (or, if not available, any other national recognized trading screen
reporting on-line intraday trading in the U.S. Treasury securities) for actively on-the-run
traded U.S. Treasury securities having a maturity equal to the Remaining Average Life of
such series of such Called Principal as of such Settlement Date, or (ii) if such yields are
not reported as of such time or the yields reported as of such time are not ascertainable,
the Treasury Constant Maturity Series Yields reported, for the latest day for which such
yields have been so reported as of the second Business Day preceding the Settlement Date
with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (519) (or
any comparable successor publication) for actively traded on-the-run U.S. Treasury
securities having a constant maturity equal to the Remaining Average Life of such Called
Principal as of such Settlement Date. Such implied yield will be determined, if necessary,
by (a) converting U.S. Treasury bill quotations to bond-equivalent yields in accordance with
accepted financial practice and (b) interpolating linearly between (1) the actively traded
on-the-run

-6-

 

U.S. Treasury security with the maturity closest to and greater than the Remaining
Average Life and (2) the actively traded on-the-run U.S. Treasury security with the maturity
closest to and less than the Remaining Average Life.

     “Remaining Average Life” means, with respect to any Called Principal, the number of
years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) the principal
component of each Remaining Scheduled Payment with respect to such Called Principal by (b)
the number of years (calculated to the nearest one-twelfth year) that will elapse between
the Settlement Date with respect to such Called Principal and the scheduled due date of such
Remaining Scheduled Payment.

     “Remaining Scheduled Payments” means, with respect to the Called Principal of any
Series D Note, all payments of such Called Principal of such series and interest thereon
that would be due after the Settlement Date with respect to such Called Principal if no
payment of such Called Principal were made prior to its scheduled due date, provided that if
such Settlement Date is not a date on which interest payments are due to be made under the
terms of the Series D Notes of such series, then the amount of the next succeeding scheduled
interest payment will be reduced by the amount of interest accrued to such Settlement Date
and required to be paid on such Settlement Date pursuant to Section 6 of this Supplement or
Section 12.1 of the Note Purchase Agreements.

     “Settlement Date” means, with respect to the Called Principal of any Series D Note, the
date on which such Called Principal is to be prepaid pursuant to Section 6 of this
Supplement or has become or is declared to be immediately due and payable pursuant to
Section 12.1 of the Note Purchase Agreements, as the context requires.

     12. Representations and Warranties of the Purchasers. Each Purchaser represents and warrants
that the representations and warranties set forth in Section 6 of the Note Purchase Agreements are
true and correct on the date hereof with respect to the purchase of the Series D Notes by such
Purchaser.

     13. Amendment and Waiver. For purposes of any determination under Section 17 of the Note
Purchase Agreements after the First Closing and prior to the Second Closing (the “Second Closing
Gap Period”), the Series D Notes proposed to be issued and sold on the Second Closing shall be
deemed to be outstanding and held by the proposed Purchasers designated in Schedule A attached to
this Supplement, provided that for the purposes of determining the Required Holders under Section
17.1(a) of the Note Purchase Agreements during the Second Closing Gap Period, “Required Holders”
shall mean, at any time during the Second Closing Gap Period, the holders of at least 51% in
principal amount of the Notes at the time outstanding (exclusive of Notes then owned by the Company
or any of its Affiliates) plus the holders of at least 51% in principal amount of the Series D
Notes proposed to be issued and sold on the Second Closing.

     14. Compliance with Note Purchase Agreements. The Company and each Purchaser agree to be
bound by and comply with the terms and provisions of the Note Purchase

-7-

 

Agreements as fully and completely as if such Purchaser were an original signatory to the Note
Purchase Agreements.

     15. Governing Law. This Supplement shall be governed by and construed in accordance with the
laws of the State of New York, excluding choice-of-law principles of the law of such State that
would require the application of the laws of a jurisdiction other than such State

     The execution hereof shall constitute a contract between the Company and the Purchaser(s) for
the uses and purposes hereinabove set forth, and this agreement may be executed in any number of
counterparts, each executed counterpart constituting an original but all together only one
agreement.

	 	 	 	 	 
	 	 	NRP (Operating) LLC
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

     Each of the undersigned Subsidiary Guarantors hereby acknowledges, approves and agrees to the
foregoing First Supplement as of the date aforesaid and confirms and ratifies its obligations under
the Subsidiary Guarantee dated June 19, 2003, as amended, modified or supplemented (the “Subsidiary
Guarantee”) and acknowledges and agrees that its obligations under the Subsidiary Guarantee extend
to and include, without limitation, all obligations of the Company to the Purchasers under the Note
Purchase Agreement and the Series D Notes. The terms and provisions of the Subsidiary Guarantee
are hereby incorporated herein in their entirety as if such terms and provisions were actually set
forth herein and each Subsidiary Guarantor hereby makes the representations and warranties,
agreements and covenants in, and agrees to be bound by all the terms of, such terms and provisions.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	WPP LLC
	 	 	ACIN LLC
	 	 	WBRD LLC
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	NRP (Operating) LLC, as the Sole
Member of each of the above named Subsidiary
Guarantors	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

-8-

 

Accepted as of July 19, 2005

	 	 	 	 	 	 	 
	 	 	AIG Annuity Insurance Company
	 	 	Merit Life Insurance Co.
	 
	 	 	 	 	 	 
	 	 	By:	 	AIG Global Investment Corp., investment
adviser
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	Teachers Insurance and Annuity Association of America
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	The Northwestern Mutual Life Insurance
Company
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 	 	 	 	Name:
	 	 	 	 	Its Authorized Representative
	 
	 	 	 	 	 	 
	 	 	The Prudential Insurance Company of
America
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

-9-

 

	 	 	 	 	 	 	 
	 	 	Prudential Retirement Insurance and Annuity
Company
	 
	 	 	 	 	 	 
	 	 	By:	 	Prudential Investment Management, Inc., as
investment manager
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	Physicians Mutual Insurance Company
	 
	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,
L.P. (as Investment Advisor)
	 
	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,
Inc. (as its General Partner)
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	Massachusetts Mutual Life Insurance
Company
	 
	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC as Investment

Adviser
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:

-10-

 

	 	 	 	 	 	 	 
	 	 	C.M. Life Insurance Company
	 
	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC as Investment

Sub-Adviser
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	MassMutual Asia Limited
	 
	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC as Investment

Adviser
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	Mutual of Omaha Insurance Company
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Jefferson-Pilot Life Insurance Company
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Jefferson Pilot Financial Insurance Company
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

-11-

 

	 	 	 	 	 	 	 
	 	 	American United Life Insurance Company
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	The State Life Insurance Company
	 
	 	 	 	 	 	 
	 	 	By:	 	American United Life Insurance Company, Its

Agent
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	Pioneer Mutual Life Insurance Company
	 
	 	 	 	 	 	 
	 	 	By:	 	American United Life Insurance Company, Its

Agent
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	New York Life Insurance Company
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

-12-

 

	 	 	 	 	 	 	 
	 	 	New York Life Insurance and Annuity Corporation
	 
	 	 	 	 	 	 
	 	 	By	 	New York Life Investment Management LLC,

its Investment Manager
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:

-13-

 

Information Relating to Purchasers

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount	 
	Name and Address	 	Closing	 	 	of Series D Notes	 
	of Purchaser	 	Date	 	 	to Be Purchased	 
	[Name of Purchaser]
	 	 	                    	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 
	(1) All payments by wire transfer
of immediately
available funds to:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	with sufficient information to
identify the
source and application of such funds.
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	(2) All notices of payments and written
confirmations of such wire transfers:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	(3) All other communications:
	 	 	 	 	 	 	 	 

Schedule A

(to Supplement)

 

 

Supplemental Representations

     The Company represents and warrants to each Purchaser that except as hereinafter set forth in
this Exhibit A, each of the representations and warranties set forth in Section 5 of the Note
Purchase Agreements is true and correct as of the date hereof with respect to the Series D Notes
with the same force and effect as if each reference to “Series A, B or C Notes” set forth therein
was modified to refer the “Series D Notes” and each reference to “this Agreement” therein was
modified to refer to the Note Purchase Agreements as supplemented by the First Supplement. The
Section references hereinafter set forth correspond to the similar sections of the Note Purchase
Agreements which are supplemented hereby:

     Section 5.3. Disclosure. The Company, through its agent, SPP Capital Partners, LLC and BB&T
Capital Markets Inc., have delivered to each Purchaser a copy of a Confidential Direct Private
Placement Memorandum dated June 2005 (the “Memorandum”), relating to the transactions contemplated
by the First Supplement. The Note Purchase Agreements, the Memorandum, the documents, certificates
or other writings delivered to each Purchaser by or on behalf of the Company in connection with the
transactions contemplated by the Note Purchase Agreements and the First Supplement and the
financial statements listed in Schedule 5.5 to the First Supplement, taken as a whole, do not
contain any untrue statement of a material fact or omit to state any material fact necessary to
make the statements therein not misleading in light of the circumstances under which they were
made. Since December 31, 2004, there has been no change in the financial condition,
operations, business, properties or prospects of the Company or any Subsidiary except changes that
individually or in the aggregate could not reasonably be expected to have a Material Adverse
Effect.

     Section 5.4. Organization and Ownership of Shares of Subsidiaries. (a) Schedule 5.4 to the
First Supplement contains (except as noted therein) complete and correct lists of the Subsidiaries,
and showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization,
and the percentage of shares of each class of its capital stock or similar equity interests
outstanding owned by the Company and each other Subsidiary.

     Section 5.13. Private Offering by the Company. Neither the Company nor anyone acting on its
behalf has offered the Series D Notes or any similar securities for sale to, or solicited any offer
to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any
Person other than the Purchasers and not more than 24 other Institutional Investors, each of which
has been offered the Series D Notes at a private sale for investment. Neither the Company nor
anyone acting on its behalf has taken, or will take, any action that would subject the issuance or
sale of the Notes to the registration requirements of Section 5 of the Securities Act.

     Section 5.14. Use of Proceeds; Margin Regulations. The Company will apply the proceeds of the
sale of the Series D Notes as set forth in Section I.D. (Transaction Summary) of the Memorandum.
No part of the proceeds from the sale of the Series D Notes pursuant to the First Supplement will
be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the
meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 222), or
for the purpose of buying or carrying or trading in any securities under such circumstances as to
involve the Company in a violation of Regulation X of

Exhibit  A

(to Supplement)

 

 

said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said
Board (12 CFR 220). Margin stock does not constitute more than 1.00% of the value of the
consolidated assets of the Company and its Subsidiaries and the Company does not have any present
intention that margin stock will constitute more than 1.00% of the value of such assets. As used
in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the
meanings assigned to them in said Regulation U.

     Section 5.15. Existing Debt; Future Liens. (a) Schedule 5.15 to the First Supplement sets
forth a complete and correct list of all outstanding Debt of the Company and the Subsidiaries as of
June 30, 2005 since which date there has been no Material change in the amounts, interest rates,
sinking funds, installment payments or maturities of the Debt of the Company or the Subsidiaries.
Neither the Company nor any Subsidiary is in default and no waiver of default is currently in
effect, in the payment of any principal or interest on any Debt of the Company or such Subsidiary
and no event or condition exists with respect to any Debt of the Company or any Subsidiary that
would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons
to cause such Debt to become due and payable before its stated maturity or before its regularly
scheduled dates of payment.

     Section 5.16. Foreign Assets Control Regulations, Etc. (a) Neither the sale of the Series D
Notes by the Company hereunder nor its use of the proceeds thereof will violate the Trading with
the Enemy Act, as amended, or any of the foreign assets control regulations of the United States
Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or
executive order relating thereto.

     (b) Neither the Company nor any Subsidiary (i) is a Person described or designated in the
Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or
in Section 1 of the Anti-Terrorism Order or (ii) engages in any dealings or transactions with any
such Person. The Company and its Subsidiaries are in compliance, in all material respects, with
the USA Patriot Act.

     (c) No part of the proceeds from the sale of the Series D Notes hereunder will be used,
directly or indirectly, for any payments to any governmental official or employee, political party,
official of a political party, candidate for political office, or anyone else acting in an official
capacity, in order to obtain, retain or direct business or obtain any improper advantage, in
violation of the United States Foreign Corrupt Practices Act of 1977, as amended, assuming in all
cases that such Act applies to the Company.

     As used in this Section 5.16, “Anti-Terrorism Order” means Executive Order No. 13,224 of
September 24, 2001, Blocking Property and Prohibiting Transactions with Persons Who Commit,
Threaten to Commit or Support Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended; and “USA
Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as
amended from time to time, and the rules and regulations promulgated thereunder from time to time
in effect.

A-2

(to Supplement)

 

 

[Form of Series D Note]

NRP (Operating) LLC

5.05% Senior Note, Series D Due July 19, 2020

	 	 	 
	No. R[               ]– [                                   ]

	 	[Date]
	$[                                              ]

	 	PPN 62963# AD 3

     For Value Received, the undersigned, NRP (Operating) LLC (herein called the
“Company”), a limited liability company organized and existing under the laws of the State of
Delaware, hereby promises to pay to [___], or registered assigns, the principal sum of
[___] Dollars on July 19, 2020, with interest (computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of 5.05% per
annum from the date hereof, payable semi-annually, on the 19th day of July and January
in each year, commencing with the July or January next succeeding the date hereof, until the
principal hereof shall have become due and payable, and (b) to the extent permitted by law on any
overdue payment (including any overdue prepayment) of principal, any overdue payment of interest
and any overdue payment of any Make-Whole Amount (as defined in the Supplement referred to below),
payable semi-annually, as aforesaid (or, at the option of the registered holder hereof, on demand),
at a rate per annum from time to time equal to the greater of (i) 7.05% or (ii) 2% over the rate of
interest publicly announced by Citibank, N.A. from time to time in New York, New York as its “base”
or “prime” rate.

     Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Citibank, N.A. or at such other place
as the Company shall have designated by written notice to the holder of this Note as provided in
the Note Purchase Agreements referred to below.

     This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to
that certain First Supplement dated as of July 19, 2005 (as from time to time amended and
supplemented, the “Supplement”) to Note Purchase Agreements, dated as of June 19, 2003, as from
time to time amended and supplemented, between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreements (as defined in the Supplement) and (ii) to have made the
representation set forth in Section 6.2 of the Note Purchase Agreements (as defined in the
Supplement).

     This Note is a registered Note and, as provided in the Note Purchase Agreements, upon
surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written
instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney
duly authorized in writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for registration of transfer,
the Company may treat the person in whose name this Note is registered as the owner hereof for the

Exhibit 1

(to Supplement)

 

 

purpose of receiving payment and for all other purposes, and the Company will not be affected
by any notice to the contrary.

     The Company will make required prepayments of principal on the dates and in the amounts
specified in the Supplement. This Note is also subject to optional prepayment, in whole or from
time to time in part, at the times and on the terms specified in the Supplement, but not otherwise.

     If an Event of Default, as defined in the Note Purchase Agreements, occurs and is continuing,
the principal of this Note may be declared or otherwise become due and payable in the manner, at
the price (including any applicable Make-Whole Amount (as defined in the Supplement)) and with the
effect provided in the Note Purchase Agreements.

     This Note is guaranteed pursuant to the Subsidiary Guarantee dated June 19, 2003.

     This Note shall be construed and enforced in accordance with, and the rights of the parties
shall be governed by, the law of the State of New York excluding choice-of-law principles of law of
such State that would require the application of the laws of a jurisdiction other than such State.

	 	 	 	 	 
	 	 	NRP (Operating) LLC
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	[Title]

1-2

(to Supplement)

 

 

Amortization of Series D Notes

	 	 	 
	Date of Principal Payment	 	Amount of Principal Payment
	July 19, 2008   
	 	$7,692,307.70
	July 19, 2009   
	 	$7,692,307.70
	July 19, 2010   
	 	$7,692,307.70
	July 19, 2011   
	 	$7,692,307.70
	July 19, 2012   
	 	$7,692,307.70
	July 19, 2013   
	 	$7,692,307.70
	July 19, 2014   
	 	$7,692,307.70
	July 19, 2015   
	 	$7,692,307.70
	July 19, 2016   
	 	$7,692,307.70
	July 19, 2017   
	 	$7,692,307.70
	July 19, 2018   
	 	$7,692,307.70
	July 19, 2019   
	 	$7,692,307.70
	July 19, 2020   
	 	$7,692,307.60

Schedule  5

(to Supplement)

 

 

Subsidiaries and Affiliates

(i)  Subsidiaries of the Company

	 	 	 	 	 
	Subsidiary	 	Jurisdiction	 	Ownership by the Company
	WPP LLC
	 	Delaware
	 	100%
	ACIN LLC
	 	Delaware
	 	100%
	WBRD LLC
	 	Delaware
	 	100%

(ii)  Affiliates of the Company

Natural Resource Partners L.P.

NRP (GP) LP

GP Natural Resource Partners LLC

Western Pocahontas Properties Limited Partnership

Great Northern Properties Limited Partnership

New Gauley Coal Corporation

Robertson Coal Management LLC

NRP Investment L.P.

(iii) Senior Officers of the Company

	 	 	 	 	 
	Nick Carter

	 	—
	 	President and Chief Operating Officer
	Dwight Dunlap

	 	—
	 	Chief Financial Officer and Treasurer
	Kevin Wall

	 	—
	 	Vice President and Chief Engineer
	Wyatt Hogan

	 	—
	 	Vice President, General Counsel and Secretary
	Kevin Craig

	 	—
	 	Vice President-Business Development
	Ken Hudson

	 	—
	 	Controller

Schedule 5.4

(to Supplement)

 

 

Financial Statements Provided to Purchasers

Natural Resource Partners L.P.

     Financial Statements for the periods October 17, 2002 through December 31, 2004

     Financial Statements for the quarter ended March 31, 2005

Schedule 5.5

(to Supplement)

 

 

Existing Debt

	1.	 	$50,000,000 principal under Revolving Loan Credit Agreement dated October 29, 2004.
	 
	2.	 	$53,400,000 principal of 5.55% Series A Senior Notes, due June 19, 2023.
	 
	3.	 	$67,900,000 principal of 4.91% Series B Senior Notes, due June 19, 2018.
	 
	2.	 	$35,000,000 principal of 5.55% Series C Senior Notes, due June 19, 2013.

Schedule 5.15

(to Supplement)exv4w2

 

Exhibit 4.2

	 	 	 
	 

First Amendment

Dated as of July 18, 2005

to

Note Purchase Agreements dated as of June 19, 2003

Re:

5.55% Senior Notes, Series A, due June 19, 2023

4.91% Senior Notes, Series B, due June 19, 2018

5.55% Senior Notes, Series C, due June 19, 2013

	 	 	 
	 
	 
	 	 

 

 

Table of Contents

(Not a part of this First Amendment)

	 	 	 	 	 
	Section	 	Heading	 	Page
	Section 1.

	 	Amendments to Note Agreements
	 	1
	 
	 	 	 	 
	Section 2.

	 	Limited Waiver
	 	3
	 
	 	 	 	 
	Section 3.

	 	Conditions Precedent
	 	3
	 
	 	 	 	 
	Section 4.

	 	Representations and Warranties
	 	4
	 
	 	 	 	 
	Section 5.

	 	Miscellaneous
	 	5

Schedule I — Name of Holders and Principal Amount of 2003 Notes

-i- 

 

Dated as of

July 18, 2005

To each of the holders

listed in Schedule I to

this First Amendment

Ladies and Gentlemen:

     Reference is made to (i) the separate Note Purchase Agreements each dated as of June 19, 2003
(the “Note Agreements”), by and between NRP (Operating) LLC, a Delaware limited liability company
(the “Company”), and each of you, respectively, (ii) the $60,000,000 aggregate principal amount of
5.55% Senior Notes, Series A, due June 19, 2023 of the Company (the “Series A Notes”), (iii) the
$80,000,000 aggregate principal amount of 4.91% Senior Notes, Series B, due June 19, 2018 of the
Company (the “Series B Notes”) and (iv) the $35,000,000 aggregate principal amount of 5.55% Senior
Notes, Series C, due June 19, 2013 of the Company (the “Series C Notes,” and collectively with the
Series A and Series B Notes, the “2003 Notes”). Capitalized terms used in this First Amendment
(this “First Amendment”) without definition shall have the meanings given such terms in the Note
Agreements.

     For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company requests the amendment of certain provisions of the Note Agreements as
hereinafter provided.

     Concurrently with the Effective Date, this First Amendment shall be effective, but only in the
respects hereinafter set forth:

Section 1. Amendments to Note Agreements.

     Section 1.1. Section 7.1(a) of the Note Agreements is hereby amended as of the Effective Date
by inserting the following at the end thereof:

“provided, however, that, notwithstanding the foregoing, so long as the
Company shall be a direct wholly-owned Subsidiary of the Parent and the
Parent does not own any assets other than its membership interest in the
Company, the Company may deliver the foregoing items as specified in this
Section 7.1(a) with respect to the Parent, rather than the Company;
provided, further, however, in the event the Company has delivered items
required by this Section 7.1(a) with respect to the Parent and the
Securities Valuation Office of the National Association of Insurance
Commissioners requests additional information (including, without
limitation, the financial statements of the Company required to be delivered
by the Company pursuant to this Section 7.1(a)) in order to assign or
maintain a

 

 

			
	NRP (Operating) LLC
	 	First Amendment

designation of the Notes, the Company agrees to timely furnish such
information;”

     Section 1.2. Section 7.1(b) of the Note Agreements is hereby amended as of the Effective Date
by inserting the following phrase at the end thereof:

“provided, however, that, notwithstanding the foregoing, so long as the
Company shall be a direct wholly-owned Subsidiary of the Parent and the
Parent does not own any assets other than its membership interest in the
Company, the Company may deliver the foregoing items as specified in this
Section 7.1(b) with respect to the Parent, rather than the Company;
provided, further, however, in the event the Company has delivered items
required by this Section 7.1(b) with respect to the Parent and the
Securities Valuation Office of the National Association of Insurance
Commissioners requests additional information (including, without
limitation, the financial statements of the Company required to be delivered
by the Company pursuant to this Section 7.1(b)) in order to assign or
maintain a designation of the Notes, the Company agrees to timely furnish
such information;”

     Section 1.3. Section 8.3(h)(iii) of the Note Agreements is hereby amended as of the Effective
Date by deleting the name “Arch Coal, Inc.” appearing therein and substituting the name “NRP
Investment L.P.” therefor.

     Section 1.4. Section 10.6(a)(iii) of the Note Agreements is hereby amended as of the Effective
Date by deleting the word “to” appearing in the last line thereof and substituting the phrase
“would not” therefor.

     Section 1.5. The new definition “NRP Investment L.P.” is hereby added as of the Effective Date
to Schedule B to the Note Agreements in alphabetical order to read as follows:

          “NRP Investment L.P.” means NRP Investment L.P., a Delaware limited
partnership.

     Section 1.6. The definition of “Financing Agreement” and “Financing Agreements” set forth on
Schedule B to the Note Agreements is hereby amended as of the Effective Date by deleting the phrase
“as amended or modified from time to time” appearing therein and substituting the phrase “as
amended, modified or supplemented from time to time” therefor.

     Section 1.7. The definition of “Priority Debt” set forth on Schedule B to the Note Agreements
is hereby amended as of the Effective Date by deleting the phrase “(other than to the Company or
another Subsidiary)” appearing in clause (ii) thereof and substituting the phrase “(other than (a)
Debt of a Subsidiary to the Company or another Subsidiary, (b) Debt of a Subsidiary Guarantor
pursuant to the Subsidiary Guarantee and (c) Debt of a Subsidiary Guarantor pursuant to the
unsecured Guaranty of the obligations of the Company under the Bank Agreement)” therefor.

-2-

 

			
	NRP (Operating) LLC
	 	First Amendment

     Section 1.8. The definition of “this Agreement” set forth on Schedule B to the Note Agreements
is hereby amended as of the Effective Date by deleting the phrase “as amended or modified from time
to time” appearing therein and substituting the phrase “as amended, modified or supplemented from
time to time” therefor.

Section 2. Limited Waiver.

     With effect from the Effective Date, and subject to the satisfaction of the conditions
precedent set forth in Section 3 hereof, the undersigned holders of the 2003 Notes agree and
consent that any Default or Event of Default that has occurred prior to the Effective Date pursuant
to (i) Section 11(d) of the Note Agreements, solely as a result of the delivery of quarterly or
annual financial statements of the Parent, that otherwise meet the requirements of Sections 7.1(a)
and (b) of the Note Agreements, in lieu of the quarterly or annual financial statements of the
Company required to be delivered pursuant to Sections 7.1(a) and (b) of the Note Agreements or (ii)
Section 11(c) of the Note Agreements, solely as a result of the failure to deliver notice of any
Default or Event of Default described in clause (i) of this sentence, is hereby waived. This
waiver is limited to the specific Defaults or Events of Default described above in this Section 2
and does not extend to (x) any Default or Event of Default occurring after the Effective Date,
whether or not similar in nature to the Defaults or Events of Default described above in this
Section 2 or (y) any Default or Event of Default existing on or occurring prior to the Effective
Date, other than the specific Defaults or Events of Default described above in this Section 2.

Section 3. Conditions Precedent.

     This First Amendment shall not become effective until, and shall become effective on, the
Business Day (the “Effective Date”) when each of the following conditions shall have been
satisfied:

     (a) Each holder of 2003 Notes shall have received this First Amendment, duly executed
by the Company.

     (b) Each holder of 2003 Notes shall have consented to this First Amendment as evidenced
by their execution thereof.

     (c) Each Subsidiary Guarantor shall have consented to the terms of this First Amendment
by signing in the appropriate space on the signature page hereof.

     (d) The representations and warranties of the Company set forth in Section 4 hereof
shall be true and correct as of the date of the execution and delivery of this First
Amendment and as of the Effective Date.

     (e) Any consents or approvals from any holder or holders of any outstanding security or
Debt of the Company and any amendments of agreements pursuant to which any securities or
Debt may have been issued which shall be necessary to permit the

-3-

 

			
	NRP (Operating) LLC
	 	First Amendment

consummation of the transactions contemplated hereby shall have been obtained and all such
consents or amendments shall be reasonably satisfactory in form and substance to the holders
and their special counsel.

     (f) Each holder shall have received such certificates of officers of the Company as it
may reasonably request with respect to this First Amendment and the transactions
contemplated hereby.

     (g) The Company shall have paid the fees and disbursements of the holders’ special
counsel, Chapman and Cutler LLP, incurred in connection with the negotiation, preparation,
execution and delivery of this First Amendment and the transactions contemplated hereby
which fees and disbursements are reflected in the statement of such special counsel
delivered to the Company at the time of the execution and delivery of this First Amendment.

     (h) All corporate and other proceedings in connection with the transactions
contemplated by this First Amendment and all documents and instruments incident to such
transactions shall be satisfactory to you and your special counsel, and you and your special
counsel shall have received all such counterpart originals or certified or other copies of
such documents as you or they may reasonably request.

Section 4. Representations and Warranties.

     The Company hereby represents and warrants that as of the date hereof and as of the date of
execution and delivery of this First Amendment:

     (a) This First Amendment and the transactions contemplated hereby are within the
limited liability company powers of the Company, have been duly authorized by all necessary
limited liability company action on the part of the Company and this First Amendment has
been duly executed and delivered by the Company and constitutes a legal, valid and binding
obligation of the Company enforceable in accordance with its terms.

     (b) After giving effect to this First Amendment, there are no Defaults or Events of
Default under the Note Agreements, as amended hereby.

     (c) The execution, delivery and performance of this First Amendment by the Company does
not and will not result in a violation of or default under (A) the articles of formation or
limited liability company agreement of the Company, (B) any agreement to which the Company
is a party or by which it is bound or to which any of its properties is subject, (C) any
order, writ, injunction or decree binding on the Company, or (D) any statute, regulation,
rule or other law applicable to the Company.

-4-

 

			
	NRP (Operating) LLC
	 	First Amendment

     (d) No consent, approval or authorization of, or registration, filing or declaration
with, any Governmental Authority is required in connection with the execution, delivery or
performance by the Company of this First Amendment.

     (e) The Company has not paid or agreed to pay any fees or other consideration, or given
any additional security or collateral, or shortened the maturity or average life of any
indebtedness or permanently reduced any borrowing capacity, in each case, in connection with
the obtaining of any consents or approvals of any Person in connection with the transactions
contemplated hereby.

     (f) Prior to the issuance of 2003 Notes, neither the Company nor anyone that acted on
its behalf offered the 2003 Notes or the Subsidiary Guarantee or any similar securities for
sale to, or solicited any offer to buy any of the same from, or otherwise approached or
negotiated in respect thereof with, any person other than 45 Institutional Investors, each
of which was offered the 2003 Notes and the Subsidiary Guarantee at a private sale for
investment.

Section 5. Miscellaneous.

     Section 5.1. Except as amended herein, all terms and provisions of the Note Agreements, the
2003 Notes and related agreements and instruments are hereby ratified, confirmed and approved in
all respects.

     Section 5.2. Each Subsidiary Guarantor, for itself as a guarantor under the Subsidiary
Guarantee, consents to the terms of this First Amendment and reaffirms, ratifies and confirms (a)
in all respects each and every obligation and covenant made by it in the Subsidiary Guarantee and
(b) that the Subsidiary Guarantee remains the legal, valid and binding obligation of such
Subsidiary Guarantor enforceable against such Subsidiary Guarantor in accordance with its terms.

     Section 5.3. Each reference in the Note Agreements to “this Agreement,” “hereunder,” “hereof,”
or words of similar import in instruments or documents provided for in the Note Agreements or
delivered or to be delivered thereunder or in connection therewith, shall, except where the context
otherwise requires, be deemed a reference to the Note Agreement, as amended hereby.

     Section 5.4. This First Amendment shall be governed by and construed in accordance with the
laws of the State of New York, excluding choice-of-law principles of the law of such State that
would require the application of the laws of a jurisdiction other than such State.

     Section 5.5. This First Amendment and all covenants herein contained shall be binding upon and
inure to the benefit of the respective successors and assigns of the parties hereunder. All
covenants made by the Company herein shall survive the closing and the delivery of this First
Amendment.

-5-

 

			
	NRP (Operating) LLC
	 	First Amendment

     Section 5.6. This First Amendment may be executed in any number of counterparts, each of which
shall be deemed to be an original and all of which, taken together, shall constitute but one and
the same agreement. Delivery of an executed counterpart of this First Amendment by facsimile shall
be as effective as delivery of a manually executed counterpart of this First Amendment.

[Remainder of Page Intentionally Left Blank — Signature Pages Follow]

-6-

 

			
	NRP (Operating) LLC
	 	First Amendment

     The execution hereof by the holders shall constitute a contract among the Company and the
holders for the uses and purposes hereinabove set forth.

	 	 	 	 	 
	 	NRP
(Operating) LLC, a
Delaware limited 

       liability company

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     Each of the undersigned, severally, hereby acknowledges, approves and agrees to the foregoing
First Amendment and ratifies and confirms each of its obligations under the Subsidiary Guarantee.

	 	 	 	 	 	 	 	 	 
	 	 	WPP LLC
	 	 	ACIN LLC
	 	 	WBRD LLC
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	NRP (Operating) LLC, as the Sole
Member of each of the above named Subsidiary Guarantors
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 	 	 

-7-

 

			
	NRP (Operating) LLC
	 	First Amendment

Accepted as of the date aforesaid:

	 	 	 	 	 
	 	Teachers
Insurance and Annuity

         Association of America

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

-8-

 

			
	NRP (Operating) LLC
	 	First Amendment

Accepted as of the date aforesaid:

	 	 	 	 	 	 	 	 
	 	 	Connecticut General Life Insurance
Company
	 
	 	 	 	 	 	 
	 	 	By:	 	Cigna Investments, Inc.
(authorized agent)
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	Life Insurance Company of
North America
	 
	 	 	 	 	 	 
	 	 	By:	 	CIGNA Investments, Inc.
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:

-9-

 

			
	NRP (Operating) LLC
	 	First Amendment

Accepted as of the date aforesaid:

	 	 	 	 	 	 
	 	 	The Northwestern Mutual Life Insurance
Company
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

-10-

 

			
	 	 	 
	NRP (Operating) LLC
	 	First Amendment

	 	 	 	 	 	 	 	 
	Accepted as of the date aforesaid:
	 	 	 	 	 	 	 
	 	 	Massachusetts Mutual Life Insurance Company	 
	 
	 	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC, as

Investment Adviser	 
	 
	 	 	 	 	 	 	 
	 

	 	 	 	By	 	 	 
	 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 
	 

	 	 	 	 	 	Title:	 
	 
	 	 	 	 	 	 	 
	 	 	C.M. Life Insurance Company	 
	 
	 	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC, as

Investment Sub-Adviser	 
	 
	 	 	 	 	 	 	 
	 

	 	 	 	By	 	 	 
	 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 
	 

	 	 	 	 	 	Title:	 
	 
	 	 	 	 	 	 	 
	 	 	MassMutual Asia Limited	 
	 
	 	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC, as

Investment Adviser	 
	 
	 	 	 	 	 	 	 
	 

	 	 	 	By	 	 	 
	 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 
	 

	 	 	 	 	 	Title:	 

-11-

 

			
	 	 	 
	NRP (Operating) LLC
	 	First Amendment

	 	 	 	 	 	 
	Accepted as of the date aforesaid:
	 	 	 	 	 
	 	 	Sun
Life Assurance Company of Canada (U.S.)
	 
	 	 	 	
(successor By merger to Keyport Life
Insurance Company	 
	 
	 	 	 	 	 
	 

	 	By	 	 	 
	 

	 	 	 	 	 
	 

	 	 	 	Name:	 
	 

	 	 	 	Title:	 
	 
	 	 	 	 	 
	 

	 	By	 	 	 
	 

	 	 	 	 	 
	 

	 	 	 	Name:	 
	 

	 	 	 	Title:	 
	 
	 	 	 	 	 
	 	 	Sun Life Assurance Company of Canada	 
	 
	 	 	 	 	 
	 

	 	By	 	 	 
	 

	 	 	 	 	 
	 

	 	 	 	Name:	 
	 

	 	 	 	Title:	 
	 
	 	 	 	 	 
	 

	 	By	 	 	 
	 

	 	 	 	 	 
	 

	 	 	 	Name:	 
	 

	 	 	 	Title:	 

-12-

 

			
	 	 	 
	NRP (Operating) LLC
	 	First Amendment

	 	 	 	 	 	 	 	 
	Accepted as of the date aforesaid:
	 	 	 	 	 	 	 
	 	 	New York Life Insurance Company	 
	 
	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 
	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 
	 

	 	 	 	Title:	 	 	 
	 
	 	 	 	 	 	 	 
	 	 	New York Life Insurance and Annuity
Corporation	 
	 
	 	 	 	 	 	 	 
	 	 	By	 	New York Life Investment Management LLC,

its Investment Manager	 
	 
	 	 	 	 	 	 	 
	 

	 	 	 	By	 	 	 
	 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 
	 

	 	 	 	 	 	Title:	 

-13-

 

	 	 	 
	NRP (Operating) LLC

	 	First Amendment

Accepted as of the date aforesaid:

	 	 	 	 	 
	 	 	Jefferson-Pilot Life Insurance Company
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

-14-

 

	 	 	 
	NRP (Operating) LLC

	 	First Amendment

Accepted as of the date aforesaid:

	 	 	 	 	 
	 	 	Farm Bureau Life Insurance Company
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

-15-

 

	 	 	 
	NRP (Operating) LLC

	 	First Amendment

Accepted as of the date aforesaid:

	 	 	 	 	 
	 	 	National Life Insurance Company
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

-16-

 

			
	NRP (Operating) LLC
	 	First Amendment

	 	 	 	 	 
	Accepted as of the date aforesaid:
	 	 	 	 
	 	 	Life Insurance Company of the Southwest
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name :
	 

	 	 	 	Title :

-17-

 

			
	NRP (Operating) LLC
	 	First Amendment

	 	 	 	 	 
	Accepted as of the date aforesaid :
	 	 	 	 
	 
	 	 	 	 
	 	 	Beneficial Life Insurance Company
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 

	 	 	 	Name :
	 

	 	 	 	Title :

-18-

 

			
	NRP (Operating) LLC
	 	First Amendment

	 	 	 	 	 
	Accepted as of the date aforesaid :
	 	 	 	 
	 	 	The Prudential Insurance Company of America
	 
	 	 	 	 
	 

	 	By :	 	 
	 

	 	 	 	 
	 

	 	 	 	Name :
	 

	 	 	 	Title :
	 
	 	 	 	 
	 	 	Prudential Retirement Insurance and Annuity Company

	 	 	 	 	 	 	 
	 	 	 	By Prudential
Investment Management, Inc.,
	 	 	 	 	 as Investment Manager
	 
	 	 	 	 	 	 
	 

	 	 	 	By	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 

	 	 	 	 	 	Title:

-19-

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outstanding Principal Amount ($)	 
	Name of Holder	 	of 2003 Notes Held as of	 
	 	 	July 18, 2005	 
	 	 	Series A	 	 	Series B	 	 	Series C	 
	Teachers Insurance and Annuity Association of America
	 	$	13,350,000	 	 	$	8,487,500	 	 	$	7,500,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CIG & Co. (as nominee of Connecticut General Life Insurance Company)
	 	 	 	 	 	$	15,447,250	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	CIG & Co. (as nominee of Life Insurance Company of North America)
	 	 	 	 	 	$	2,631,125	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	The Northwestern Mutual Life Insurance Company
	 	$	15,130,000	 	 	 	 	 	 	$	9,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Massachusetts Mutual Life Insurance Company
	 	$	8,633,000	 	 	$	5,050,062.50	 	 	$	3,750,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	C.M. Life Insurance Company
	 	$	1,602,000	 	 	$	1,315,562.50	 	 	$	750,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Gerlach & Co. (as nominee of MassMutual Asia Limited)
	 	$	890,000	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sun Life Insurance Company (U.S.) (successor by merger to Keyport
Life Insurance Company)
	 	$	10,680,000	 	 	 	 	 	 	$	2,500,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sun Life Assurance Company of Canada
	 	 	 	 	 	$	7,214,375	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	New York Life Insurance Company
	 	 	 	 	 	$	8,063,125	 	 	$	4,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	New York Life Insurance and Annuity Corporation
	 	 	 	 	 	$	4,243,750	 	 	$	2,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Jefferson-Pilot Life Insurance Company
	 	 	 	 	 	$	9,760,625	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Chimebrook & Company (as nominee of Farm Bureau Life Insurance
Company)
	 	 	 	 	 	 	 	 	 	$	4,000,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	National Life Insurance Company
	 	$	2,225,000	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Life Insurance Company of the Southwest
	 	 	 	 	 	 	 	 	 	$	1,500,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	TFINN (as nominee of Beneficial Life Insurance Company)
	 	$	890,000	 	 	 	 	 	 	 	 	 

Schedule I

(to First Amendment)

 

 

			
	NRP (Operating) LLC
	 	First Amendment

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Outstanding Principal Amount ($)	 
	Name of Holder	 	of 2003 Notes Held as of	 
	 	 	July 18, 2005	 
	 	 	Series A	 	 	Series B	 	 	Series C	 
	Pru & Co.
	 	 	 	 	 	$	5,686,625	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	Total:
	 	$	53,400,000	 	 	$	67,900,000	 	 	$	35,000,000	 

E-2

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