Document:

Exhibit 10.1

 

SECOND AMENDMENT OF REVOLVING CREDIT AGREEMENT

 

THIS SECOND AMENDMENT OF REVOLVING CREDIT AGREEMENT (“Amendment”), dated effective as of May 26, 2011, is made and entered into by and among WHOLE FOODS MARKET, INC. (the “Company”), a Texas corporation, the lenders which are now or hereafter parties thereto (each, together with its successors and assigns, a “Lender” and collectively, the “Lenders”), and JPMORGAN CHASE BANK, N.A., a national banking association formerly known as JPMorgan Chase Bank, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Agent”).

 

RECITALS:

 

WHEREAS, the Company, the Agent and the Lenders are parties to a Revolving Credit Agreement dated as of August 28, 2007, as previously amended pursuant to the terms of the that certain First Amendment of Revolving Credit Agreement dated as of June 2, 2008, by and among the Company, the Agent and the Lenders (hereinafter referred to as the “Credit Agreement”); and

 

WHEREAS, in connection with (a) the deletion of the Company’s requirement to use commercially reasonable efforts to maintain a corporate family (or equivalent) rating from Moody’s and (b) the corresponding changes to the Applicable Commitment Fee Percentage and Applicable Margin pricing grids, the Agent, the Lenders and the Company have agreed, on the terms and conditions herein set forth, that the Credit Agreement be further amended in certain respects.

 

AGREEMENTS:

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements, representations and warranties herein set forth, and for other good and valuable consideration, the receipt and sufficiency which are hereby acknowledged and confessed, the Company, the Agent and the Lenders do hereby agree as follows:

 

Section 1.    General Definitions.  Capitalized terms used herein which are defined in the Credit Agreement shall have the same meanings when used herein.

 

Section 2.    Amendment of Applicable Commitment Fee Percentage and Applicable Margin Definitions.  The definitions of in Section 1.1 of the Credit Agreement are hereby amended and restated in their entirety to hereafter be and read as follows:

 

“Applicable Commitment Fee Percentage” shall mean with respect to any Loan on any date of determination, the applicable rate per annum for the corresponding rating of the Company’s S&P corporate family rating, and determined in accordance with the following grid:

 

1

 

	
S&P
   Rating
    	
 
    	
Percentage
   (Per Annum)
    	
 
    
	
BB+ or higher 
    	
 
    	
0.25
    	
%
    
	
BB 
    	
 
    	
0.275
    	
%
    
	
BB-
    	
 
    	
0.325
    	
%
    
	
Otherwise
    	
 
    	
0.375
    	
%
    

 

To the extent that S&P at any time fails to maintains a corporate family (or equivalent) rating of the Company, the Applicable Commitment Fee Percentage shall be based on the “Otherwise” category in the above pricing grid unless and until S&P thereafter reinstitutes its corporate family (or equivalent) rating of the Company.

 

“Applicable Margin” shall mean with respect to any Loan on any date of determination, the applicable rate per annum for the corresponding rating of the Company’s S&P corporate family rating, and determined in accordance with the following grid:

 

	
S&P Rating
    	
 
    	
LIBOR Margin
   (Per Annum)
    	
 
    	
ABR Margin
   (Per Annum)
    	
 
    
	
BB+ or higher
    	
 
    	
1.375
    	
%
    	
0.375
    	
%
    
	
BB 
    	
 
    	
1.50
    	
%
    	
0.50
    	
%
    
	
BB-
    	
 
    	
1.625
    	
%
    	
0.625
    	
%
    
	
Otherwise
    	
 
    	
1.875
    	
%
    	
0.875
    	
%
    

 

To the extent that S&P at any time fails to maintains a corporate family (or equivalent) rating of the Company, the Applicable Margin shall be based on the “Otherwise” category in the above pricing grid unless and until S&P thereafter reinstitutes its corporate family (or equivalent) rating of the Company.

 

Section 3.    Deletion of Obligation to Utilize Commercially Reasonable Effort to Maintain Moody’s Rating.   Section 5.15 of the Credit Agreement is hereby amended and restated in its entirety to hereafter be and read as follows:

 

Section 5.15  Maintenance of S&P Rating.  The Company shall use commercially reasonable efforts to maintain a corporate family (or equivalent) rating from S&P.

 

2

 

Section 4.    Representations and Warranties.  The Company represents and warrants to the Agent and the Lenders that the representations and warranties contained in Section 4 of the Credit Agreement and in all of the other Loan Documents are true and correct in all material respects on and as of the effective date hereof as though made on and as of such effective date.  The Company hereby certifies that no event has occurred and is continuing which constitutes a Default or an Event of Default under the Credit Agreement or which, upon the giving of notice or the lapse of time, or both, would constitute a Default or an Event of Default.  Additionally, the Company hereby represents and warrants to the Agent and the Lenders that the resolutions or authorizations of the Board of Directors (or other governing parties) of the Company and its Subsidiaries which are set out in the following described Secretary’s Certificates or Authorizations remain in full force and effect as of the effective date hereof and have not been modified, amended, superseded or revoked:

 

(a)           That certain Secretary’s Certificate dated on or about August 28, 2007, executed and delivered to the Agent by the Secretary of Whole Foods Market, Inc.; and

 

(b)           Those certain Secretary’s Certificates dated on or after August 28, 2007, executed and delivered to the Agent by the Secretary or Assistant Secretary of each of the Subsidiaries of the Company which are set forth below in this Amendment and have executed a Joinder of Guarantor Subsidiaries.

 

Section 4.    Limitations.  The amendments set forth herein are limited precisely as written and shall not be deemed to (a) be a consent to, or waiver or modification of, any other term or condition of the Credit Agreement or any of the other Loan Documents, or (b) except as expressly set forth herein, prejudice any right or rights which the Lenders may now have or may have in the future under or in connection with the Credit Agreement, the Loan Documents or any of the other documents referred to therein.  Except as expressly modified hereby or by express written amendments thereof, the terms and provisions of the Credit Agreement, the Notes and any other Loan Documents or any other documents or instruments executed in connection with any of the foregoing are and shall remain in full force and effect.  In the event of a conflict between this Amendment and any of the foregoing documents, the terms of this Amendment shall be controlling.

 

Section 5.    Payment of Expenses.  The Company agrees, whether or not the transactions hereby contemplated shall be consummated, to reimburse and save the Agent and each of the Lenders harmless from and against liability for the payment of all reasonable substantiated out-of-pocket costs and expenses arising in connection with the preparation, execution, delivery, amendment, modification, waiver and enforcement of, or the preservation of any rights under this Amendment, including, without limitation, the reasonable fees and expenses of counsel for the Agent and other charges which may be payable in respect of, or in respect of any modification of, the Credit Agreement and the Loan Documents.  The provisions of this Section shall survive the termination of the Credit Agreement and the repayment of the Loans.

 

3

 

Section 6.    Descriptive Headings, etc.  The descriptive headings of the several Sections of this Amendment are inserted for convenience only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.

 

Section 7.    Entire Agreement.  This Amendment and the documents referred to herein represent the entire understanding of the parties hereto regarding the subject matter hereof and supersede all prior and contemporaneous oral and written agreements of the parties hereto with respect to the subject matter hereof, including, without limitation, any commitment letters regarding the transactions contemplated by this Amendment.

 

Section 8.    Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts and all of such counterparts shall together constitute one and the same instrument.  Complete sets of counterparts shall be lodged with the Company and the Agent.

 

Section 9.    References to Credit Agreement.  As used in the Credit Agreement (including all Exhibits thereto) and all other Loan Documents, on and subsequent to the effective date hereof, the term “Agreement” shall mean the Credit Agreement, as amended by this Amendment.

 

Section 10.  Jurisdiction; Governing Law; Etc.

 

(a)               Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Amendment or any of the other Loan Documents to which it is a party, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such New York State court or, to the fullest extent permitted by law, in such Federal court.  Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  Nothing in this Amendment shall affect any right that any party may otherwise have to bring any action or proceeding relating to this Amendment or any of the other Loan Documents in the courts of any jurisdiction.

 

(b)           EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS TO WHICH IT IS A PARTY IN ANY NEW YORK STATE OR FEDERAL COURT.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

 

4

 

(c)           THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

(d)           EACH OF THE COMPANY, THE AGENT AND THE LENDERS IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF THE LOAN DOCUMENTS, THE LOANS OR THE ACTIONS OF THE AGENT OR ANY LENDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

 

[Remainder of page left intentionally blank]

 

5

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective duly authorized offices as of the date first above written.

 

 

	
 
    	
WHOLE   FOODS MARKET, INC.
    
	
 
    	
a   Texas corporation, as Borrower
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Glenda   Flanagan
    
	
 
    	
 
    	
Executive   Vice President
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.,
    
	
 
    	
as   Agent and as a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ROYAL   BANK OF CANADA,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, N.A,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BNP   PARIBAS,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
US   BANK, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
COÖPERATIEVE   CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK   BRANCH,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

JOINDER OF GUARANTOR SUBSIDIARIES

 

The undersigned Guarantors (a) acknowledge and consent to the execution of the foregoing Amendment, (b) confirm that the Guaranties and Security Agreements previously executed or joined in by each of the undersigned Guarantors apply and shall continue to apply to all Indebtedness evidenced by or arising pursuant to the Credit Agreement or any other Loan Documents, notwithstanding the execution and delivery of this Amendment by the Company, the Agent and each of the Lenders, and (c) acknowledge that without this consent and confirmation, the Banks and the Agent would not agree to the modifications of the Credit Agreement which are evidenced by the foregoing Amendment.

 

 

	
 
    	
186   THIRD STREET BROOKLYN NY, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
190-220   THIRD STREET STORE BROOKLYN NY, LLC, a Delaware limited liability company
    
	
 
    	
ALTON   ROAD MIAMI FL, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
DELK   ROAD BRASELTON GA, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
FRANKLIN &   SOMERSET PORTLAND ME, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
GBD   PROPERTIES, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
HYDRAULIC   ROAD CHARLOTTESVILLE VA, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
LEDGE   ROAD DARIEN CT, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
MAIN   STREET ROYAL OAK MI, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
RAY   ROAD CHANDLER AZ, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
SEA   VIEW AVENUE CONCH KEY FL, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
SHARON   ROAD CHARLOTTE NC, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
SPRINGFIELD   AVENUE MILLBURN NJ, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
TUNNEL   ROAD ASHEVILLE NC, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
VENTURA   BOULEVARD SHERMAN OAKS CA, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
WAUGH   DRIVE HOUSTON TX, LLC,
    
	
 
    	
a   Delaware limited liability company
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
WFM   GIFT CARD, LLC,
    
	
 
    	
a   Virginia limited liability company
    
	
 
    	
WFM   PRIVATE LABEL MANAGEMENT, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WFM   PROPERTIES CHESHIRE, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
WFM   PROPERTIES GLENDALE, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
WFM   PROPERTIES MANAGEMENT, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WFM   PROPERTIES SAN JOSE, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
WFM   PROPERTIES SCOTTSDALE, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
WFM   PURCHASING MANAGEMENT, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WFM   SELECT FISH, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WHOLE   FOODS MARKET FINANCE, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WHOLE   FOODS MARKET PROCUREMENT, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WHOLE   FOODS MARKET SERVICES, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Glenda Flanagan, President
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
ALLEGRO   COFFEE COMPANY,
    
	
 
    	
a   Colorado corporation
    
	
 
    	
THE   SOURDOUGH, A EUROPEAN BAKERY, INC.,
    
	
 
    	
a   Texas corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Glenda Flanagan, Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
2118   ABRAMS ROAD, L.P.,
    
	
 
    	
a   Texas limited partnership
    
	
 
    	
601   NORTH LAMAR AND SIXTH STREET, L.P.,
    
	
 
    	
a   Texas limited partnership
    
	
 
    	
LAKE   POINTE VILLAGE SUGAR LAND, L.P.,
    
	
 
    	
a   Texas limited partnership
    
	
 
    	
MOPAC   AND BRAKER, L.P.,
    
	
 
    	
a   Texas limited partnership
    
	
 
    	
PRESTON   ROAD AND FOREST LANE, L.P.,
    
	
 
    	
a   Texas limited partnership
    
	
 
    	
WFM   PROPERTIES, L.P.,
    
	
 
    	
a   Texas limited partnership
    
	
 
    	
 
    
	
 
    	
By:
    	
WFM   Properties Management, Inc., a Delaware corporation, General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Glenda Flanagan, President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WFM   PRIVATE LABEL, L.P.,
    
	
 
    	
a   Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
By:
    	
WFM   Private Label Management, Inc., a Delaware corporation, General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Glenda Flanagan, President
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
WFM   PURCHASING, L.P.,
    
	
 
    	
a   Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
By:
    	
WFM   Purchasing Management, Inc., a Delaware corporation, General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Glenda Flanagan, President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NATURE’S   HEARTLAND, INC.,
    
	
 
    	
a   Massachusetts corporation
    
	
 
    	
WFM   BEVERAGE CORP.,
    
	
 
    	
a   Texas corporation
    
	
 
    	
WFM   BEVERAGE HOLDING COMPANY,
    
	
 
    	
a   Texas corporation
    
	
 
    	
WFM   IP MANAGEMENT, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WHOLE   FOODS MARKET GROUP, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WHOLE   FOODS MARKET ROCKY MOUNTAIN/ SOUTHWEST I, INC., a Delaware corporation
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 
    
	
 
    	
 
    	
Roberta Lang, President
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
MRS.   GOOCH’S NATURAL FOOD MARKETS, INC.,
    
	
 
    	
a   California corporation
    
	
 
    	
WFM   HAWAII, LLC,
    
	
 
    	
a   Hawaii limited liability company
    
	
 
    	
WFM   INTERMEDIARY NEW ENGLAND ENERGY, LLC, a Delaware limited liability company
    
	
 
    	
WFM   NORTHERN NEVADA, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WHOLE   FOOD COMPANY, INC.,
    
	
 
    	
a   Louisiana corporation
    
	
 
    	
WHOLE   FOODS MARKET CALIFORNIA, INC.,
    
	
 
    	
a   California corporation
    
	
 
    	
WHOLE   FOODS MARKET PACIFIC NORTHWEST, INC., a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Roberta   Lang, Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
WHOLE   FOODS MARKET IP, L.P.,
    
	
 
    	
a   Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
By:
    	
WFM   IP Management, Inc., a Delaware corporation, General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Roberta   Lang, President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
WFM   COBB PROPERTY INVESTMENTS, LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
WHOLE   FOODS MARKET GROUP, INC., a Delaware corporation, sole Member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Roberta   Lang, President
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
WHOLE   FOODS MARKET ROCKY MOUNTAIN/ SOUTHWEST, L.P., a Texas corporation
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
WHOLE   FOODS MARKET ROCKY MOUNTAIN/SOUTHWEST I, INC., a Delaware corporation,   General Partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Roberta   Lang, President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
WHOLE   FOODS MARKET DISTRIBUTION, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Roberta   Lang, Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WFM   PROCUREMENT INVESTMENTS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WFM   PROPERTIES HOLDINGS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WFM   PROPERTIES INVESTMENTS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Roberta   Lang, Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WFM   IP INVESTMENTS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
WHOLE   FOODS MARKET SOUTHWEST INVESTMENTS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Roberta   Lang, President
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENT

 

 

	
 
    	
WFM   SOUTHERN NEVADA, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Patrick   Bradley, Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
WFM   - WO, INC., a Delaware corporation
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Roberta   Lang, President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
WHOLE   FOODS MARKET - WO, INC.,
    
	
 
    	
a   British Columbia corporation
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Roberta   Lang, President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
WFM   STRATEGIC INVESTMENTS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Roberta   Lang, President
    

 

SIGNATURE PAGE(S) TO SECOND AMENDMENT TO

REVOLVING CREDIT AGREEMENTExhibit 4.1

 

[EXECUTION COPY]

 

THIRD AMENDMENT
 TO
 SECOND AMENDED AND RESTATED U.S. CREDIT AGREEMENT AND 
 TERMINATION OF SECOND AMENDED AND RESTATED CANADIAN CREDIT 
 AGREEMENT

 

THIS THIRD AMENDMENT TO SECOND AMENDED AND RESTATED U.S. CREDIT AGREEMENT AND TERMINATION OF SECOND AMENDED AND RESTATED CANADIAN CREDIT AGREEMENT (this “Amendment”), dated as of May 25, 2011, among FOREST OIL CORPORATION, a New York corporation (the “U.S. Borrower”), CANADIAN FOREST OIL LTD. and its successors in interest (“Canadian Forest”) and each other subsidiary of Canadian Forest which becomes a “Borrower” (as defined in the Canadian Credit Agreement) under the Canadian Credit Agreement (the “Canadian Borrowers”), each of the lenders that is a signatory to, or which becomes a signatory to, the U.S. Credit Agreement (together with its successors and assigns, the “U.S. Lenders”), each of the lenders that is a signatory to, or which becomes a signatory to, the Canadian Credit Agreement (together with its successors and assigns, the “Canadian Lenders”, and together with the U.S. Lenders, the “Combined Lenders”), JPMORGAN CHASE BANK, N.A., TORONTO BRANCH, as Canadian Administrative Agent (the “Canadian Administrative Agent”), and JPMORGAN CHASE BANK, N.A., as Global Administrative Agent (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”) and the other agents party thereto.

 

W  I  T  N  E  S  S  E  T  H:

 

1.             The U.S. Borrower, the Global Administrative Agent, the U.S. Lenders and others as agents are parties to that certain Second Amended and Restated Credit Agreement, dated as of June 6, 2007 (the “U.S. Credit Agreement”), pursuant to which the U.S. Lenders agreed to make loans to and extensions of credit on behalf of the U.S. Borrower.

 

2.             The Canadian Borrowers, the Global Administrative Agent, the Canadian Administrative Agent, the Canadian Lenders and others as agents are parties to that certain Second Amended and Restated Credit Agreement, dated as of June 6, 2007 (the “Canadian Credit Agreement”, and together with the U.S. Credit Agreement, the “Combined Credit Agreements”), pursuant to which the Canadian Lenders agreed to make loans to and extensions of credit on behalf of the Canadian Borrowers.

 

3.             The U.S. Borrower, the Canadian Borrowers, the Canadian Administrative Agent, the Global Administrative Agent and the other Agents party to the Combined Credit Agreements entered into that certain First Amendment to Second Amended and Restated Combined Credit Agreements, dated as of May 9, 2008, and that certain Second Amendment to Second Amended and Restated Combined Credit Agreements, dated as of March 16, 2009, pursuant to which the parties agreed to certain amendments to the Combined Credit Agreements.

 

4.             The U.S. Borrower has formed Lone Pine Resources Inc., a Delaware corporation (“Lone Pine”), and intends to take steps to contribute to Lone Pine all of the capital stock it directly and indirectly owns in the Wiser Entities (as defined herein) and Canadian Forest as

 

 

well as certain promissory notes and/or intercompany debts owed to it by Canadian Forest, including that certain non-interest bearing demand note issued by Canadian Forest and payable to the U.S. Borrower (the “Demand Note”).

 

5.             Canadian Forest desires, in connection with the closing of the underwritten initial public offering of up to 19.9% of the Equity Interests of Lone Pine pursuant to (a) a registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”), and declared effective under the Securities Act of 1933, as amended, in the United States and (b) a Canadian prospectus in Canada (the “Lone Pine IPO”), to (i) terminate the Canadian Credit Agreement, (ii) have the various Guaranties securing the Canadian Credit Agreement, including the Guaranty delivered by the U.S. Borrower, terminated, (iii) have the collateral securing the Canadian Credit Agreement released, including the termination of any Liens or Mortgages thereupon securing the Canadian Credit Agreement and (iv) terminate the Intercreditor Agreement, all in connection with Canadian Forest entering into that certain proposed Credit Agreement by and among Lone Pine, as parent, Canadian Forest, as borrower, JPMorgan Chase Bank, N.A., Toronto Branch, as administrative agent, and certain other agents and lenders party thereto (the “Lone Pine Credit Agreement”).

 

6.             In connection with Lone Pine IPO and the effectiveness of the Lone Pine Credit Agreement, the parties to the Combined Credit Agreements intend to amend the surviving U.S. Credit Agreement as set forth herein.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows:

 

I.              Amendments and Modifications.  The parties agree that the following amendments and modifications in this Article I will be effective concurrently with the later of (i) the “closing” date, pursuant to the Lone Pine IPO underwriting agreement, that the underwriters of the Loan Pine IPO shall be obligated to purchase the Equity Interests of Loan Pine in accordance with the terms thereof and (ii) the effectiveness of the Lone Pine Credit Agreement (collectively, the “Termination Date”), provided  however that the Termination Date shall have occurred by July 29, 2011:

 

A.            Section 1.1 of the U.S. Credit Agreement hereby is amended by amending and restating the following definitions of “Canadian Credit Agreement” and “Canadian Forest” in their entirety to read as follows:

 

“              “Canadian Credit Agreement” means that certain Second Amended and Restated Credit Agreement of even date herewith among the Canadian Borrowers, the Canadian Lenders, the Global Administrative Agent, the Canadian Administrative Agent, the Co-Canadian Documentation Agents and the Co-Global Syndication Agents, as it may be amended, supplemented, restated or otherwise modified and in effect from time to time, but, notwithstanding the foregoing, shall not include the Lone Pine Credit Agreement.

 

2

 

“Canadian Forest” means Canadian Forest Oil Ltd., a corporation amalgamated under the laws of the Province of Alberta, Canada, and any successor in interest thereto.”

 

B.            Section 1.1 of the U.S. Credit Agreement hereby is amended by inserting the following definitions of “Lone Pine”, “Lone Pine Credit Agreement” and “Spin-Off Date” in such section in appropriate alphabetical order:

 

“              “Lone Pine” means Lone Pine Resources Inc., a Delaware corporation.

 

“Lone Pine Credit Agreement” means that certain Credit Agreement, dated as of March 18, 2011, by and among Lone Pine, as parent, Canadian Forest, as borrower, JPMorgan Chase Bank, N.A., Toronto Branch, as administrative agent, and certain other agents and lenders party thereto, as it may be amended, supplemented, restated or otherwise modified and in effect from time to time.

 

“Spin-Off Date” means the date upon which Borrower no longer holds direct or indirect ownership of the Equity Interests of either Canadian Forest or Lone Pine.”

 

C.            Section 3.15 of the U.S. Credit Agreement hereby is amended and restated in its entirety to read as follows:

 

“              SECTION 3.15  Priority; Security Matters.  The Obligations are and shall be at all times secured by Liens in all Collateral (other than any Collateral owned by Lone Pine or any of its Subsidiaries) to the extent perfection has occurred, or would occur, by filing of a UCC financing statement in the states in which each Grantor is located, filing a mortgage, a UCC-1 affecting as-extracted collateral or a fixture filing in the real property or other appropriate records of the parish or county in which such real property or fixtures are located (or adjacent in the case of properties located on the Outer Continental Shelf), or by possession, and, except for Liens permitted by Section 7.2, all such Liens shall be first priority Liens.”.

 

D.            Section 7.1 of the U.S. Credit Agreement hereby is amended by (i) deleting the word “and” at the end of Section 7.1(a)(ix), (ii) deleting the period and adding a semi-colon and the word “and” at the end of Section 7.1(a)(x) and (iii) inserting the following provision as Section 7.1(a)(xi):

 

“              (xi)           Until the Spin-Off Date, any Indebtedness, including a Guarantee by Borrower, relating to the Lone Pine Credit Agreement not to exceed $350,000,000 Canadian dollars at any time outstanding.”

 

E.             Section 7.2 of the U.S. Credit Agreement hereby is amended by (i) deleting the word “and” at the end of Section 7.2(k), (ii) deleting the period and adding a semi-colon and the word “and” at the end of Section 7.2(l) and (iii) inserting the following provision as Section 7.2(m):

 

3

 

“              (m)          Liens to secure the Lone Pine Credit Agreement permitted under Section 7.1(a)(xi).”.

 

F.             In connection with the termination of the Canadian Credit Agreement, (i) the Intercreditor Agreement shall be terminated and shall be of no further force or effect, (ii) the various Guaranties securing the Canadian Credit Agreement, including the Guaranty delivered by the U.S. Borrower, shall be terminated and shall be of no further force or effect and (iii) any and all collateral securing the Canadian Credit Agreement shall be released and shall be of no more force and effect.  The foregoing shall be effective on the Termination Date without any further action by any Person; provided, however, if requested by the U.S. Borrower, the Global Administrative Agent agrees to deliver, at the expense of the U.S. Borrower, appropriate documentation of such releases and terminations on the Termination Date.

 

G.            The Liens created by the Pledge Agreement, dated June 6, 2007, ONLY INSOFAR as such Liens encumber the Equity Interests of Canadian Forest are released.  This Section shall not be deemed or construed to waive or release, any other rights under such Pledge Agreement on or against any Equity Interests of any Restricted Subsidiary other than Canadian Forest.  The Global Administrative Agent agrees to deliver, at the expense of the U.S. Borrower, appropriate documentation of such release on the Termination Date.

 

H.            Each of Wiser Oil Delaware, LLC., a Delaware limited liability company (“Wiser I”), Wiser Delaware LLC, a Delaware limited liability company (“Wiser II” and, together with Wiser I, the “Wiser Entities”), and Canadian Forest, each of their Subsidiaries, Lone Pine and any other Subsidiary of Lone Pine shall be designated as an Unrestricted Subsidiary.

 

II.            Waivers.  The Global Administrative Agent and the Majority Lenders waive:

 

A.            any restriction on the designation of each of Lone Pine, Wiser I, Wiser II, Canadian Forest and any of their Subsidiaries as an Unrestricted Subsidiary set forth in Section 1.5(b) of the U.S. Credit Agreement and Lone Pine is hereby designated as an Unrestricted Subsidiary,

 

B.            the notice requirements of the U.S. Borrower set forth in Section 5.1(g) of the U.S. Credit Agreement as such requirements relate to the transfer of any Equity Interests of Wiser I, Wiser II or Canadian Forest to Lone Pine,

 

C.            the notice requirements of the U.S. Borrower set forth in Section 5.2(a)(iv) of the U.S. Credit Agreement as such requirements relate to any sale, transfer, assignment or other disposition to Lone Pine of (i) the Equity Interests of the Wiser Entities and Canadian Forest and (i) certain promissory notes and/or intercompany debts owed to U.S. Borrower by Canadian Forest, including the Demand Note,

 

D.            the notice requirements of the U.S. Borrower set forth in Section 5.3 of the U.S. Credit Agreement as such requirements relate to the conversion of Wiser Oil Delaware, Inc., a Delaware corporation, from a corporation to a limited liability company,

 

E.             the notice requirements of the U.S. Borrower set forth in Section 5.12 of the U.S. Credit Agreement as such requirements relate to the formation of Lone Pine,

 

4

 

F.             the negative covenant set forth in Section 7.1(c) of the U.S. Credit Agreement relating to the amount of Indebtedness the Unrestricted Subsidiaries of the U.S. Borrower are permitted to incur as it relates to the Demand Note payable to U.S. Borrower or Indebtedness of Lone Pine and the Canadian Borrowers incurred under the Lone Pine Credit Agreement and the Guarantees thereof,

 

G.            the negative covenant set forth in Section 7.4(h)(ii) of the U.S. Credit Agreement limiting Investments by the U.S. Borrower in any Unrestricted Subsidiary to an amount not to exceed $150,000,000 in the aggregate as it relates to the Investments of the U.S. Borrower in Lone Pine and its Subsidiaries described in this Amendment and loans to the Canadian Borrowers prior to the Spin-Off Date,

 

H.            the restrictions set forth in Section 7.5 of the U.S. Credit Agreement relating to the selling, leasing, transferring or otherwise disposing of any Property or assets as it relates to (i) the transfer of the Equity Interests of the Wiser Entities from the U.S. Borrower to Lone Pine and (ii) the transfer of the Equity Interests of Canadian Forest and its Subsidiaries from the U.S. Borrower to Lone Pine,

 

I.              the negative covenant set forth in Section 7.8 of the U.S. Credit Agreement restricting the U.S. Borrower and its Restricted Subsidiaries from declaring, making or agreeing to pay or make, directly or indirectly, any Restricted Payment or incurring any obligation to do so as it relates to the proposed distribution by the U.S. Borrower of its Equity Interests in Lone Pine to the U.S. Borrower’s shareholders within six (6) months after the date of the Loan Pine IPO,

 

J.             the negative covenant set forth in Section 7.9 of the U.S. Credit Agreement restricting the ability of the U.S. Borrower and its Restricted Subsidiaries to enter into transactions with their Affiliates as it relates to the various contractual arrangements to be entered into between the U.S. Borrower and Lone Pine, Canadian Forest, the Wiser Entities and any other Subsidiaries of Lone Pine or Canadian Forest in connection with the Lone Pine IPO and related transactions, and

 

K.            the negative covenant set forth in Section 7.10 of the U.S. Credit Agreement restricting the U.S. Borrower and its Restricted Subsidiaries from entering into restrictive agreements as it relates to Lone Pine, Canadian Forest, the Wiser Entities and Subsidiaries of Lone Pine or Canadian Forest entering into the Lone Pine Credit Agreement or documentation relating thereto, as applicable.

 

This section shall not be deemed to be a waiver of any other provision of the Combined Credit Agreements or a waiver of the requirements of Sections 1.5(b), 5.1(g),  5.2(a)(iv),  5.3,  5.12, 7.1(c), 7.4(h)(ii), 7.5, 7.8, 7.9 or 7.10 of the U.S. Credit Agreement in any respect other than as specifically set forth herein.

 

III.           Global Borrowing Base.

 

A.            Each of the Global Administrative Agent, the Combined Lenders, the U.S. Borrower and the Canadian Borrowers agree that, as of the Third Amendment Effective Date and prior to the Termination Date but subject to Section 2.7 of the U.S. Credit Agreement in all

 

5

 

respects, the Global Borrowing Base will be set at U.S.$1,300,000,000 until the then scheduled redetermination as of November 1, 2011.  As of the Third Amendment Effective Date, the Allocated U.S. Borrowing Base shall be set at U.S.$1,155,000,000 and the Allocated Canadian Borrowing Base shall be set at U.S.$145,000,000.

 

B.            Each of the Global Administrative Agent, the Combined Lenders, the U.S. Borrower and the Canadian Borrowers agree that, after the Termination Date but subject to Section 2.7 of the U.S. Credit Agreement in all respects, the Global Borrowing Base will be set at U.S.$1,155,000,000 until the then scheduled redetermination as of November 1, 2011.  As of the Termination Date, the Allocated U.S. Borrowing Base shall be set at U.S.$1,155,000,000 and the Allocated Canadian Borrowing Base shall be set at U.S.$0.

 

IV.           Commitments after Termination Date.

 

A.            After the Termination Date, the Commitments of each U.S. Lender under the U.S. Credit Agreement shall be the same as immediately prior to the Termination Date.  For reference purposes, the Commitments of each U.S. Lender under the U.S. Credit Agreement are set forth in Schedule 2.1 attached hereto.

 

B.            On the Termination Date, the Canadian Credit Agreement, the Canadian Commitments and all other obligations of the parties under the Canadian Credit Agreement shall be terminated (other than those obligations which by their terms expressly survive) and all amounts then due and payable thereunder shall be paid in full.

 

V.            Effectiveness.

 

A.            This Amendment shall become effective when the Global Administrative Agent shall have received counterparts hereof duly executed by the U.S. Borrower, the Canadian Borrower, the Global Administrative Agent, the Canadian Administrative Agent, and the Borrowing Base Required Lenders (or, in the case of any party as to which an executed counterpart shall not have been received, telegraphic, telex, or other written confirmation from such party of execution of a counterpart hereof by such party) (the “Third Amendment Effective Date”).

 

B.            Notwithstanding anything to the foregoing in this Article V or otherwise in this Amendment, if the Termination Date has not occurred by July 29, 2011, without the further action of any Person, the Canadian Credit Agreement shall not be terminated and the provisions of every Section and Article of this Amendment including, but not limited to, Section 1(F), Article III, and Article IV, shall be ineffective; provided, however, that Section II(D) and Section II(E) shall remain effective.

 

VI.           Reaffirmation of Representations and Warranties.  To induce the Combined Lenders, the Global Administrative Agent and the Canadian Administrative Agent to enter into this Amendment, the U.S. Borrower hereby reaffirms, as of the date hereof, the following:

 

A.            The representations and warranties of each Loan Party (as such term is defined in the U.S. Credit Agreement and the Canadian Credit Agreement, collectively, the “Combined Loan Parties”) set forth in the Combined Loan Documents to which it is a party are true and

 

6

 

correct on and as of the date hereof (or, if stated to have been made expressly as of an earlier date, were true and correct in all material respects as of such earlier date).

 

B.            Each of the U.S. Borrower and its Restricted Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required.

 

C.            The execution, delivery and performance by the U.S. Borrower and the Canadian Borrowers of this Amendment are within the U.S. Borrower’s and the Canadian Borrowers’ corporate powers, and have been duly authorized by all necessary corporate action.  This Amendment has been duly executed and delivered by the U.S. Borrower and the Canadian Borrowers and, when duly executed and delivered by the other parties hereto, will constitute, a legal, valid and binding obligation of the U.S. Borrower and the Canadian Borrowers, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

 

D.            The execution, delivery and performance by the U.S. Borrower and the Canadian Borrowers of this Amendment (i) do not require any Governmental Approval or third party approvals, except such as have been obtained or made and are in full force and effect, (ii) will not violate any applicable Governmental Rule or the Organic Documents of the U.S. Borrower and the Canadian Borrowers or any order of any Governmental Authority, (iii) will not violate or result in a default under any indenture, agreement or other instrument binding upon the U.S. Borrower or the Canadian Borrowers or either of their assets, or give rise to a right thereunder to require any payment to be made by the U.S. Borrower or the Canadian Borrowers, and (iv) will not result in the creation or imposition of any Lien on any asset of the U.S. Borrower or the Canadian Borrowers (other than Liens created under the Combined Loan Documents).

 

E.             No Default under the Combined Loan Documents has occurred and is continuing and the U.S. Borrower is in compliance with the financial covenant set forth in Article VI of the U.S. Credit Agreement.

 

F.             No event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.

 

VII.         Defined Terms.  Except as amended hereby, terms used herein when defined in the U.S. Credit Agreement shall have the same meanings herein unless the context otherwise requires.

 

VIII.        Reaffirmation of Combined Credit Agreements.  This Amendment shall be deemed to be an amendment to the Combined Credit Agreements, and the Combined Credit Agreements, as amended hereby, are hereby ratified, approved and confirmed in each and every respect.  All references to the Combined Credit Agreements herein and in any other document,

 

7

 

instrument, agreement or writing shall hereafter be deemed to refer to the Combined Credit Agreements as amended hereby.

 

IX.           Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

X.            Severability of Provisions. Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

 

XI.           Counterparts. This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy shall be effective as delivery of a manually executed counterpart of this Amendment.

 

XII.         Headings.  Article and section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.

 

XIII.        Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

XIV.        No Oral Agreements.  THIS AMENDMENT, THE COMBINED CREDIT AGREEMENTS, AS AMENDED HEREBY, AND THE OTHER COMBINED LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

 

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

[SIGNATURES BEGIN ON FOLLOWING PAGE]

 

8

 

IN WITNESS WHEREOF, the U.S. Borrower, the Canadian Borrower, the undersigned Combined Lenders, the Global Administrative Agent, and the other “agents” under the Combined Credit Agreements have executed this Amendment as of the date first above written.

 

	
 
    	
U.S.   BORROWER
    
	
 
    	
 
    
	
 
    	
FOREST   OIL CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   MICHAEL N. KENNEDY
    
	
 
    	
Name:   Michael N. Kennedy
    
	
 
    	
Title:   Executive Vice President and Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CANADIAN   BORROWER
    
	
 
    	
 
    
	
 
    	
CANADIAN   FOREST OIL LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   MICHAEL N. KENNEDY
    
	
 
    	
Name:   Michael N. Kennedy
    
	
 
    	
Title:   Vice President
    

 

Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-1

 

	
 
    	
AGENTS   AND COMBINED LENDERS
    
	
 
    	
 
    
	
 
    	
JPMORGAN CHASE BANK, N.A.,   as Global Administrative Agent and as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   BRIAN ORLANDO
    
	
 
    	
Name:   Brian Orlando
    
	
 
    	
Title:   Senior Underwriter
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-2

 

	
 
    	
BANK   OF AMERICA, N.A., as a Co-Global Syndication Agent and as a U.S.   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   RONALD E. MCKAIG
    
	
 
    	
Name:   Ronald E. McKaig
    
	
 
    	
Title:   Managing Director
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-3

 

	
 
    	
CITIBANK,   N.A., as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   JOHN F. MILLER
    
	
 
    	
Name:   John F. Miller
    
	
 
    	
Title:   Attorney-in-Fact 
    

 

Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-4

 

	
 
    	
BNP   PARIBAS, as a Co-U.S. Documentation Agent and as a U.S.   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   JUAN CARLOS SANDOVAL
    
	
 
    	
Name:   Juan Carlos Sandoval
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   COURTNEY KUBESCH
    
	
 
    	
Name:   Courtney Kubesch
    
	
 
    	
Title:    Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-5

 

	
 
    	
BMO   CAPITAL MARKETS FINANCING, INC., as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   JAMES V. DUCOTE
    
	
 
    	
Name:   James V. Ducote
    
	
 
    	
Title:   Director
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-6

 

	
 
    	
CREDIT   SUISSE AG, Cayman Islands Branch (f/k/a CREDIT SUISSE, Cayman Islands Branch), as a   Co-U.S. Documentation Agent and as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   NUPUR KUMAR
    
	
 
    	
Name:   Nupur Kumar
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   RAHUL PARMAR
    
	
 
    	
Name:   Rahul Parmar 
    
	
 
    	
Title:   Associate
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-7

 

	
 
    	
DEUTSCHE   BANK SECURITIES INC., as a Co-U.S. Documentation Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   MICHAEL GETZ
    
	
 
    	
Name:   Michael Getz
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   VALERIE SHAPIRO
    
	
 
    	
Name:   Valerie Shapiro
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DEUTSCHE   BANK AG NEW YORK BRANCH, as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   CARIN KEEGAN 
    
	
 
    	
Name:   Carin Keegan 
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   MICHAEL GETZ
    
	
 
    	
Name:   Michael Getz
    
	
 
    	
Title:   Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-8

 

	
 
    	
U.S. BANK NATIONAL ASSOCIATION, as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   DARIA M. MAHONEY
    
	
 
    	
Name:   Daria M. Mahoney
    
	
 
    	
Title:   Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-9

 

	
 
    	
THE BANK OF NOVA SCOTIA, as a Co-U.S.   Documentation Agent and as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   GREGORY GEORGE
    
	
 
    	
Name:   Gregory George 
    
	
 
    	
Title:   Managing Director
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-10

 

	
 
    	
BNP   PARIBAS (as successor in interest to FORTIS CAPITAL CORP.), as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   COURTNEY KUBESCH
    
	
 
    	
Name:   Courtney Kubesch
    
	
 
    	
Title:     Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   JUAN CARLOS SANDOVAL
    
	
 
    	
Name:   Juan Carlos Sandoval
    
	
 
    	
Title   Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-11

 

	
 
    	
BANK   OF SCOTLAND PLC, as a U.S.   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   JULIA R. FRANKLIN
    
	
 
    	
Name:   Julia R. Franklin
    
	
 
    	
Title:   Assistant Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-12

 

	
 
    	
THE   ROYAL BANK OF SCOTLAND, N.V., f/k/a ABN AMRO   BANK N.V., as a U.S.   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   MARY POPE
    
	
 
    	
Name:   Mary Pope
    
	
 
    	
Title:   Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-13

 

	
 
    	
UBS LOAN FINANCE LLC, as a U.S.   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   MARY E. EVANS
    
	
 
    	
Name:   Mary E. Evans
    
	
 
    	
Title:   Associate Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   IRJA R. OTSA
    
	
 
    	
Name:   Irja R. Otsa
    
	
 
    	
Title:   Associate Director
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-14

 

	
 
    	
COMPASS BANK, as a U.S.   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   GREG DETERMANN
    
	
 
    	
Name:   Greg Determann
    
	
 
    	
Title:   Senior Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-15

 

	
 
    	
WELLS FARGO BANK, N.A., as a Co-U.S.   Documentation Agent and as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   JOE ROTTINGHAUS
    
	
 
    	
Name:   Joe Rottinghaus
    
	
 
    	
Title:   Assistant Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-16

 

	
 
    	
MIZUHO   CORPORATE BANK, LTD, as a U.S.   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   LEON MO
    
	
 
    	
Name:   Leon Mo
    
	
 
    	
Title:   Authorized Signatory
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-17

 

	
 
    	
TORONTO   DOMINION (TEXAS) LLC, as a   Co-Global Syndication Agent and as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   DEBBI L. BRITO
    
	
 
    	
Name:   Debbi L. Brito
    
	
 
    	
Title:   Authorized Signatory
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-18

 

	
 
    	
BARCLAYS   BANK PLC, as a U.S. Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   ALLEN HUANG
    
	
 
    	
Name:   Allen Huang
    
	
 
    	
Title:   Assistant Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-19

 

	
 
    	
 
    	
BOKF,   NA f/k/a  Bank of Oklahoma, N.A., as a U.S. Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   BENJAMIN H. ADLER
    
	
 
    	
 
    	
Name:
    	
Benjamin   H. Adler
    
	
 
    	
 
    	
Title:
    	
Account   Officer
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-20

 

	
 
    	
 
    	
EXPORT   DEVELOPMENT CANADA, as a U.S. Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-21

 

	
 
    	
 
    	
GUARANTY   BANK AND TRUST COMPANY, as a U.S. Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   GAIL J. NOFSINGER
    
	
 
    	
 
    	
Name:
    	
Gail   J. Nofsinger
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-22

 

	
 
    	
 
    	
UNION   BANK, N.A., as a U.S. Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   ALISON WHITE
    
	
 
    	
 
    	
Name:
    	
Alison   White
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-23

 

	
 
    	
 
    	
JPMORGAN   CHASE BANK, N.A., TORONTO BRANCH, as Canadian Administrative   Agent and as a Canadian Lender
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   MICHAEL N. TAM
    
	
 
    	
 
    	
Name:
    	
Michael   N. Tam
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-24

 

	
 
    	
 
    	
BANK OF MONTREAL, as a Co-Canadian   Documentation Agent and as a Canadian Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   JAMES V. DUCOTE
    
	
 
    	
 
    	
Name:
    	
James   V. Ducote
    
	
 
    	
 
    	
Title:
    	
Director
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-25

 

	
 
    	
 
    	
THE TORONTO-DOMINION BANK, as a Canadian Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   DEBBI L. BRITO
    
	
 
    	
 
    	
Name:
    	
Debbi   L. Brito
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-26

 

	
 
    	
 
    	
BANK   OF AMERICA, N.A., CANADA BRANCH, as a Canadian Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   MEDINA SALES DE ANDRADE
    
	
 
    	
 
    	
Name:
    	
Medina   Sales de Andrade
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-27

 

	
 
    	
 
    	
CITIBANK, N.A., CANADIAN   BRANCH, as a Co-Canadian Documentation Agent and as a Canadian   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   GORDON DE KUYPER
    
	
 
    	
 
    	
Name:
    	
Gordon   De Kuyper
    
	
 
    	
 
    	
Title:
    	
Authorized   Signer
    

 

[Signature Page -
 Forest Oil Corporation Third Amendment]

 

S-28

 

SCHEDULE 2.1 - Commitments under US Credit Agreement

 

	
Lender
    	
 
    	
Commitments
    
	
JPMorgan   Chase Bank, N.A.
    	
 
    	
U.S.$
    	
109,375,000
    
	
BNP   Paribas
    	
 
    	
U.S.$
    	
139,375,000
    
	
Bank   of America, N.A.
    	
 
    	
U.S.$
    	
109,375,000
    
	
Credit   Suisse AG, Cayman Islands Branch (f/k/a Credit Suisse, Cayman Islands Branch)
    	
 
    	
U.S.$
    	
139,375,000
    
	
Deutsche   Bank AG New York Branch
    	
 
    	
U.S.$
    	
139,375,000
    
	
Toronto   Dominion (Texas) LLC
    	
 
    	
U.S.$
    	
89,375,000
    
	
The   Bank of Nova Scotia
    	
 
    	
U.S.$
    	
139,375,000
    
	
Wells   Fargo Bank, N.A.
    	
 
    	
U.S.$
    	
139,375,000
    
	
BNP   Paribas (as successor in interest to Fortis Capital Corp.)
    	
 
    	
U.S.$
    	
75,000,000
    
	
BMO   Capital Markets Financing, Inc.
    	
 
    	
U.S.$
    	
45,000,000
    
	
Compass   Bank
    	
 
    	
U.S.$
    	
75,000,000
    
	
U.S.   Bank National Association
    	
 
    	
U.S.$
    	
75,000,000
    
	
The   Royal Bank of Scotland, N.V. (f/k/a ABN AMRO Bank N.V.)
    	
 
    	
U.S.$
    	
47,500,000
    
	
Bank   of Scotland, plc
    	
 
    	
U.S.$
    	
47,500,000
    
	
Citibank,   N.A.
    	
 
    	
U.S.$
    	
37,500,000
    
	
Mizuho   Corporate Bank, Ltd.
    	
 
    	
U.S.$
    	
47,500,000
    
	
UBS   Loan Finance LLC
    	
 
    	
U.S.$
    	
47,500,000
    
	
Barclays   Bank PLC
    	
 
    	
U.S.$
    	
47,500,000
    
	
BOKF,   NA (f/k/a Bank of Oklahoma, N.A.)
    	
 
    	
U.S.$
    	
25,000,000
    
	
Export   Development Canada
    	
 
    	
U.S.$
    	
25,000,000
    
	
Guaranty   Bank and Trust Company
    	
 
    	
U.S.$
    	
25,000,000
    
	
Union   Bank, N.A. (as successor in interest to Union Bank of California, N.A.)
    	
 
    	
U.S.$
    	
25,000,000
    
	
TOTAL:
    	
 
    	
U.S.$
    	
1,650,000,000
    

 

Schedule 2.1 - Page 1

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