Document:

Exhibit

EXHIBIT 10.20.4

Execution Copy
FIRST AMENDMENT TO AMENDED AND RESTATED
REVOLVING CREDIT AGREEMENT
THIS FIRST AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (herein called the “Amendment”) made as of November 4, 2015 by and among CORENERGY INFRASTRUCTURE TRUST, INC., a Maryland corporation (“Borrower”), the Guarantors which are, or may become signatory to the Credit Agreement (as defined below), REGIONS BANK, as Agent, and the Lenders party hereto.
W I T N E S S E T H:
WHEREAS, Borrower, Guarantors, Agent and Lenders entered into that certain Amended and Restated Revolving Credit Agreement dated as of July 8, 2015 (the “Original Credit Agreement”), for the purpose and consideration therein expressed, whereby Lenders became obligated to make loans to Borrower as therein provided; and
WHEREAS, Borrower, Guarantors, Agent and Lenders desire to amend the Original Credit Agreement as set forth herein;
NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and in the Original Credit Agreement, in consideration of the loans which may hereafter be made by Lenders to Borrower, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:
ARTICLE I. 
DEFINITIONS AND REFERENCES
§ 1.1.    Terms Defined in the Original Credit Agreement.  Unless the context otherwise requires or unless otherwise expressly defined herein, the terms defined in the Original Credit Agreement shall have the same meanings whenever used in this Amendment.
§ 1.2.    Other Defined Terms.  Unless the context otherwise requires, the following terms when used in this Amendment shall have the meanings assigned to them in this Section 1.2.
“Amendment” means this First Amendment to Amended and Restated Revolving Credit Agreement.
“Amendment Documents” means this Amendment.
“Credit Agreement” means the Original Credit Agreement as amended hereby.

010990 000158 16305943.1        1ST AMENDMENT TO CORENERGY
AMENDED/RESTATED CREDIT AGREEMENT

ARTICLE II. 
AMENDMENTS TO ORIGINAL AGREEMENT
§ 2.1.    Defined Terms.
 (a)    A new defined term, “Adjusted Funds From Operations”, is hereby added to Section 1.1 of the Original Credit Agreement in proper alphabetical order to read as follows:
Adjusted Funds From Operations.  Funds from Operations plus transaction costs, amortization of debt issuance costs, deferred leasing costs, above-market rent, and certain costs of a nonrecurring nature, less maintenance, capital expenditures (if any), amortization of debt premium and other adjustments as deemed appropriate by Borrower.
(b)    The defined term and the definition of “Applicable FFO Percentage” in Section 1.1 of the Original Credit Agreement is amended and restated in its entirety to read as follows:
Applicable FFO Percentage.  The “Applicable FFO Percentage” shall mean 100% of Funds from Operations for the 12 month period ending on the last day of each fiscal quarter.
§ 2.2.    Distributions.  Section 8.6 of the Original Credit Agreement is amended and restated in its entirety to read as follows:
8.6    Distributions.
No Distributions shall be made by Borrower or the Restricted Subsidiaries, except as permitted in this §8.6.  Distributions are permitted as follows: (a) Borrower’s Restricted Subsidiaries may make distributions to Borrower; and (b) if the Loans have not been declared due and payable in full following an Event of Default as provided in §12.1, Borrower may make Distributions equal to the greater of (i) the amount required in order to maintain REIT Status and (ii) the Applicable AFFO Percentage.  The “Applicable AFFO Percentage” shall mean 100% of Adjusted Funds From Operations for the 12 month period ending on the last day of each fiscal quarter.
ARTICLE III. 
CONDITIONS OF EFFECTIVENESS
§ 3.1.    Effective Date.  This Amendment shall become effective as of September 30, 2015 (the “Effective Date”) upon satisfaction of the following conditions precedent on or prior to the date hereof:
(a)    Each of the Amendment Documents shall have been duly executed and delivered by the respective parties thereto, shall be in full force and effect and shall be in form and substance satisfactory to the Agent.  Agent shall have received a fully executed copy of each such document.
(b)     All action on the part of each Loan Party necessary for the valid execution, delivery and performance by such Loan Party of this Amendment and the other Amendment Documents (as 

2    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENT

applicable) to which such Person is or is to become a party shall have been duly and effectively taken, and evidence thereof satisfactory to Agent shall have been provided to Agent.  
(c)    Borrower and the other Loan Parties shall have performed and complied with all terms and conditions herein required to be performed or complied with by them on or prior to the Effective Date, and on the Effective Date there shall exist no Default or Event of Default.
(d)    The representations and warranties made by Borrower and each of the other Loan Parties in the Loan Documents or otherwise made by or on behalf of Borrower and each of the other Loan Parties in connection therewith on the date thereof shall have been true and correct in all material respects when made and shall also be true and correct in all material respects on the Effective Date.
ARTICLE IV.
REPRESENTATIONS AND WARRANTIES
§ 4.1.    Representations and Warranties of Borrower.  In order to induce each Lender to enter into this Amendment, Borrower and each of the other Loan Parties (as applicable) represent and warrant and, to the extent set forth in certain Sections of the Credit Agreement, covenants to Agent and Lenders as follows:
(a)    The representations and warranties made by Borrower and each of the other Loan Parties in the Amendment Documents or otherwise made by or on behalf of Borrower and each of the other Loan Parties in connection therewith on the date thereof were true and correct in all material respects when made and are true and correct in all material respects on the Effective Date.
(b)    The execution, delivery and performance of this Amendment and the other Amendment Documents to which the Loan Parties, or any of them, are or are to become a party and the transactions contemplated hereby and thereby (i) are within the authority of such Person, (ii) have been duly authorized by all necessary proceedings on the part of such Person, (including any required stockholder, partner or member approval), (iii) do not and will not conflict with or result in any breach or contravention of any provision of law, statute, rule or regulation to which such Person is subject or any judgment, order, writ, injunction, license or permit applicable to such Person, except for such conflicts or breaches that, individually and the aggregate, could not reasonably be expected to have a Material Adverse Effect, (iv) do not and will not conflict with or constitute a default (whether with the passage of time or the giving of notice, or both) under any provision of the Organizational Documents of, or any mortgage, indenture, agreement, contract or other instrument binding upon, such Person or any of its properties or to which such Person is subject, except for such conflicts or defaults that, individually and in the aggregate, could not reasonably be expected to have a Material Adverse Effect and (v) do not and will not result in or require the imposition of any Lien or other encumbrance on any of the properties, assets or rights of such Person except for the Liens and security title granted by the Loan Documents.
(c)    The execution, delivery and performance by the Loan Parties, or any of them, of this Amendment and the other Amendment Documents to which they are or are to become a party and 

3    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENT

the transactions contemplated hereby and thereby do not require the approval or consent of, or filing with, any Person or the authorization, consent or approval of, or any license or permit issued by, or any filing or registration with, or the giving of any notice to, any court, department, board, commission or other governmental agency or authority other than those already obtained and the filing of the Security Documents in the appropriate records office with respect thereto.
(d)    The execution and delivery of this Amendment and the other Amendment Documents to which the Loan Parties, or any of them, are or are to become a party are valid and legally binding obligations of such Person enforceable in accordance with the respective terms and provisions hereof and thereof, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights and except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion of the court before which any proceeding therefor may be brought.
(e)    The most recent financial statements of Borrower delivered to Lenders pursuant to Section 7.4(a) and (b) of the Credit Agreement fairly present in all material respects the financial condition of Borrower and its Subsidiaries as of such date and the results of the operations of Borrower and its Subsidiaries, for such period.  Copies of such financial statements have heretofore been delivered to each Lender.  As of the Effective Date there has occurred no materially adverse change in the financial condition or business of Borrower and its Subsidiaries, taken as a whole, as shown on or reflected in the balance sheet of Borrower or its Subsidiaries as of June 30, 2015, or its statement of income or cash flows for the fiscal quarter then ended, other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the aggregate on the business or financial condition of Borrower and Restricted Subsidiaries and any Unrestricted Subsidiary with assets in excess of $5,000,000.
(f)    No Default or Event of Default has occurred and is continuing as of the Effective Date and after giving effect to this Amendment.
ARTICLE V.
  MISCELLANEOUS
§ 5.1.    Ratification of Agreements.  The Original Credit Agreement as hereby amended is hereby ratified and confirmed in all respects.  The Loan Documents, as they may be amended or affected by the various Amendment Documents, are hereby ratified and confirmed in all respects. Any reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to the Original Credit Agreement as hereby amended.  The execution, delivery and effectiveness of this Amendment and the other Amendment Documents shall not, except as expressly provided herein or therein, operate as a waiver of any right, power or remedy of Lenders under the Credit Agreement, the Notes, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, the Notes or any other Loan Document.
§ 5.2.    Survival of Agreements.  All representations, warranties, covenants and agreements of any Loan Party herein shall survive the execution and delivery of this Amendment and the performance hereof, including without limitation the making or granting of the Loans and the 

4    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENT

issuance and delivery of the new Notes, and shall further survive until all of the Obligations are paid in full.  All statements and agreements contained in any certificate or instrument delivered by any Loan Party hereunder or under the Credit Agreement to any Lender shall be deemed to constitute representations and warranties by, and/or agreements and covenants of, Loan Parties under this Amendment and under the Credit Agreement.
§ 5.3.    Loan Documents.  This Amendment is, and the other Amendment Documents are each a Loan Document, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto and thereto.
§ 5.4.    GOVERNING LAW.  THIS AMENDMENT AND EACH OF THE OTHER AMENDMENT DOCUMENTS, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED THEREIN, ARE CONTRACTS UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL FOR ALL PURPOSES BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF SUCH STATE (EXCLUDING THE LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW), AND ANY AND ALL MATTERS IN DISPUTE BETWEEN THE PARTIES TO THIS AMENDMENT ARISING FROM OR RELATING TO THE SUBJECT MATTER HEREOF SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
§ 5.5.    Counterparts.  This Amendment may be executed in several counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute one instrument.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy or electronic communication shall be effective as delivery of a manually executed counterpart of this Amendment.
§ 5.6.    Indemnification.  Borrower and each other Loan Party waives, discharges, and forever releases Agent, each Lender and each Lender Party from and of any and all claims, causes of action, allegations or assertions that Borrower has or may have had at any time up through and including the date of this Amendment, against any or all of the foregoing, regardless of whether any such claims, causes of action, allegations or assertions are known to such Loan Party or whether any such claims, causes of action, allegations or assertions arose as result of actions or omissions of Agent, any Lender or any Lender Party in connection with the Loan Documents, or any amendments, extensions or modifications thereto, or Agent’s administration of the debt evidenced by the loan documents or otherwise.
§ 5.7.    Entire Agreement.  This Amendment, the other Amendment Documents, the other Loan Documents and any other documents executed in connection herewith or therewith express the entire understanding of the parties with respect to the transactions contemplated hereby.  Neither this Amendment nor any term hereof may be changed, waived, discharged or terminated, except as provided in Section 27 of the Credit Agreement.

5    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENT

IN WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the date first set forth above.
	
		
	BORROWER:
CORENERGY INFRASTRUCTURE TRUST, INC.,
a Maryland corporation

	By:
	/s/  Richard C. Green

	 
	Name: Richard C. Green

	 
	Title:  Executive Chairman

[SIGNATURES CONTINUED ON FOLLOWING PAGES]

6    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENT

[Execution of Amended and Restated Revolving Credit Agreement Continued]
GUARANTORS:
	
				
	CORRIDOR PRIVATE HOLDINGS, INC., a Delaware corporation
	CORRIDOR PUBLIC HOLDINGS, INC., a Delaware corporation

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

	 
	 
	 
	 

	CORENERGY OPERATING PARTNERSHIP, LP,
a Delaware limited partnership
By its general partner 
CorEnergy GP, LLC
	MOWOOD CORRIDOR, INC.,
a Delaware corporation

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

	 
	 
	 
	 

	HUNTON GP, LLC,
a Delaware limited liability company
	HUNTON CORRIDOR, LP,
a Delaware limited partnership
By its general partner 
Hunton GP, LLC

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

	 
	 
	 
	 

	GRAND ISLE GP, INC.,
a Delaware corporation
	GRAND ISLE CORRIDOR, LP,
a Delaware limited partnership
By its general partner 
Grand Isle GP, Inc.

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

7    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENT

GUARANTORS:
	
				
	LCP OREGON HOLDINGS, LLC,
a Delaware limited liability company
	CORRIDOR BISON, LLC,
a Delaware limited liability company

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

	 
	 
	 
	 

	CORENERGY BBWS, INC.,
a Delaware corporation
	CORENERGY GP, LLC,
a Delaware limited liability company

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

	 
	 
	 
	 

	CORRIDOR MOGAS, INC.,
a Delaware corporation
	GRAND ISLE LP, INC.,
a Delaware corporation

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

	 
	 
	 
	 

	MOGAS PIPELINE LLC,
a Delaware limited liability company
	UNITED PROPERTY SYSTEMS, LLC,
a Delaware limited liability company

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

	 
	 
	 
	 

	CORRIDOR LEEDS PATH WEST,  INC.,
a Delaware corporation
	FOUR WOOD CORRIDOR, LLC,
a Delaware limited liability company

	By:
	/s/  Rebecca M. Sandring
	By:
	/s/  Rebecca M. Sandring

	Name:
	Rebecca M. Sandring
	Name:
	Rebecca M. Sandring

	Title:
	Chief Accounting Officer, Treasurer and Secretary
	Title:
	Chief Accounting Officer, Treasurer and Secretary

[SIGNATURES CONTINUED ON FOLLOWING PAGES]

8    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENT

	
			
	REGIONS BANK, as a Lender and as Agent 

	 
	 
	 

	By:
	/s/  Richard S Kaufman
	 

	Name:
	Richard S. Kaufman
	 

	Title:
	Senior Vice President
	 

	 
	 
	 

	BANK OF AMERICA, N.A., as a Lender

	 
	 
	 

	By:
	/s/  Michael T. Letsch
	 

	Name:
	Michael T. Letsch
	 

	Title:
	Senior Vice President
	 

	 
	 
	 

	WELLS FARGO BANK, N.A., as a Lender

	 
	 
	 

	By:
	/s/  Yann Blindert
	 

	Name:
	Yann Blindert
	 

	Title:
	Director
	 

	 
	 
	 

	BOKF, NA DBA

	BANK OF KANSAS CITY, as a Lender

	By:
	 
	 

	Name:
	 
	 

	Title:
	 
	 

	 
	 
	 

	ARVEST BANK, as a Lender

	By:
	/s/ Barry P. Sullivan
	 

	Name:
	Barry P. Sullivan
	 

	Title:
	Senior Vice President
	 

	 
	 
	 

	ACADEMY BANK, N.A., as a Lender

	By:
	/s/  Jason Hilpipre
	 

	Name:
	Jason Hilpipre
	 

	Title:
	Vice President
	 

	 
	 
	 

	UMB BANK, N.A. as a Lender

	 
	 
	 

	By:
	/s/ Jess M. Adams
	 

	Name:
	Jess M. Adams
	 

	Title:
	Vice President
	 

9    1ST  AMENDMENT TO CORENERGY
 AMENDED/RESTATED CREDIT AGREEMENTExhibit

Exhibit 10.20.5

        
LIMITED CONSENT AND AMENDMENT

RECITALS:

Reference is hereby made to that certain Amended and Restated Revolving Credit Agreement dated as of July 8, 2015 among CorEnergy Infrastructure Trust, Inc. (“Borrower”), the Guarantors which are, or may become signatory to the Credit Agreement (as defined below), Regions Bank, as Agent, and the Lenders named therein, as amended by First Amendment to Amended and Restated Revolving Credit Agreement dated November 4, 2015 (as amended, the “Credit Agreement”).  Terms used and not defined herein shall have the meanings given them in the Credit Agreement.
Borrower owns 81.05% of the outstanding equity in Pinedale Corridor, LP, a Delaware limited partnership (“Pinedale“), an Unrestricted Subsidiary, and proposes to make an Investment of up to $49,000,000 in Pinedale through its general partner Pinedale GP, Inc. (“Pinedale GP”), an Unrestricted Subsidiary (the “CORR Capital Investment”), the proceeds of the CORR Capital Investment to be used by Pinedale to repay outstanding Indebtedness of Pinedale maturing March 30, 2016 under that certain Term Credit Agreement dated December 7, 2012 among Pinedale, as borrower, KeyBank National Association, as a lender and agent, and the other lenders party thereto (as amended, the “Pinedale Term Loan Facility”).  The proposed CORR Capital Investment in Pinedale would be prohibited by §8.3 of the Credit Agreement, and Borrower has requested that Lenders consent to the proposed CORR Capital Investment.  The undersigned each agree that the proposed CORR Capital Investment would not violate §2.7 of the Credit Agreement.
LIMITED CONSENT:

Subject to the conditions and limitations set forth herein, Agent and the Lenders party hereto hereby consent to the proposed CORR Capital Investment by Borrower in Pinedale, provided:
		
	1)
	Not more than $44,000,000 of the proposed CORR Capital Investment shall consist of proceeds of Loans;

		
	2)
	Such proposed CORR Capital Investment shall be made on or before March 30, 2016, and contemporaneous therewith, The Prudential Insurance Company of America, a New Jersey corporation (“Prudential”), which indirectly owns 18.95% of the outstanding equity in Pinedale, shall make an Investment (directly or indirectly) equal to the Capital Investment divided by 0.8105 times 0.1895 (up to $11,225,000) in Pinedale (the “Prudential Capital Investment”, and together with the CORR Capital Investment, the “Capital Investments”), and Pinedale shall use the proceeds of the Capital Investments to repay in full all outstanding obligations and indebtedness under the Pinedale Term Loan Facility; it being understood and agreed that the form of the Capital Investments may constitute Indebtedness of Pinedale;

		
	3)
	Following the making of the Capital Investments, Borrower shall not permit Pinedale to issue or incur any Indebtedness (other than the Capital Investments, if they constitute Indebtedness) unless (i) Lenders whose aggregate Percentage exceeds sixty-six and two thirds percent (66 2/3%) consent to such Indebtedness; provided that such consent shall not be unreasonably delayed or conditioned; provided, that it shall not be unreasonable 

Exhibit 10.20.5

for any Lender to withhold its consent if such Indebtedness contains (x) any restrictions or limitations on cash distributions from Pinedale to the Borrower (including any rights of the providers of such Indebtedness to limit, restrict, stop or capture such cash distributions upon the occurrence of certain events) more onerous than those contained in the Pinedale Term Loan Facility and in effect prior to December 31, 2015, or (y) any other material terms (other than pricing) more onerous than the material terms of the Pinedale Term Loan Facility as in effect prior to December 31, 2015 and (ii) contemporaneous with the issuance or incurrence of such Indebtedness (x) Pinedale makes a Distribution of the proceeds of such Indebtedness to Borrower, in an aggregate amount at least equal to (A) the CORR Capital Investment minus (B) Distributions by Pinedale to Borrower after March 31, 2016, but only to the extent a corresponding repayment of the Outstanding Revolving Loans was made therefrom, and (y) Borrower uses the proceeds of such Distributions to prepay Outstanding Revolving Loans;

		
	4)
	Following the making of the CORR Capital Investment, and continuing until such time as Borrower shall have received from Pinedale the full amount of the CORR Capital Investment, the references to “$40,000,000” in Section 8.3(i) of the Credit Agreement shall be deemed to refer instead to “$0”; following Borrower’s receipt of such return of capital, such references in such Section 8.3(i) shall thereafter again refer to “$40,000,000”;

		
	5)
	The reference to “900,000” in Section 3.1(a) of the Credit Agreement is hereby amended to refer instead to “$1,615,000”; and

		
	6)
	The definition of “Adjusted EBITDA” set forth in Section 1.1 of the Credit Agreement is hereby amended by adding the following clause at the end thereof: “plus, for any calculation of Adjusted EBITDA for any fiscal period that includes the fiscal quarter ending March 31, 2016, an amount equal to $2,553,075”.

EFFECTIVENESS
This Limited Consent shall become effective as of the date hereof when and only when (i) Agent shall have received, at its office a counterpart of this Limited Consent executed and delivered by the Borrower, Agent and Required Lenders, and (ii) Borrower shall have paid to each Lender that executes this Limited Consent a consent fee (the “Consent Fee”) equal to 0.10% of the sum of (x) such Lender’s Revolving Commitment plus (y) such Lender’s Outstanding Term Loan plus (z) such Lender’s commitment under the MGP/UPS Credit Facility; provided, if Borrower does not pay the Consent Fee on or before March 4, 2016, this Limited Consent shall not become effective and shall be void ab initio.
Following the effectiveness hereof, this Limited Consent shall automatically terminate on March 30, 2016 if the proposed Capital Investment is not made on or before such date.
LIMITATIONS AND CONDITIONS:

		
	1.
	The Credit Agreement and the other Loan Documents are hereby ratified and confirmed in all respects by the Borrower.  The Borrower hereby ratifies and confirms in all respects any and all Liens on any and all Collateral granted by it pursuant to any Security Documents to which it is a party.  The Borrower hereby represents and warrants that after giving effect to 

Exhibit 10.20.5

this Limited Consent, (i) all representations and warranties contained in §6 of the Credit Agreement and in the other Loan Documents, after giving effect to the limited consent herein and the events related thereto, are true and correct in all material respects on and as of the date hereof (or, if stated to have been made expressly as of an earlier date, were true and correct as of such date), (ii) no Default has occurred and is continuing on and as of the date hereof, or would result from the execution and delivery of this Limited Consent by the Borrower and (iii) no Material Adverse Effect has occurred.  Except as expressly waived or agreed herein, all covenants, obligations and agreements of the Borrower and each Guarantor contained in the Credit Agreement and other Loan Documents shall remain in full force and effect in accordance with their terms.  Without limitation of the foregoing, the consents, waivers and agreements set forth herein are limited precisely to the extent set forth herein and shall not be deemed to (a) be a consent or agreement to, or waiver or modification of, any other term or condition of the Credit Agreement or any of the documents referred to therein, or (b) except as expressly set forth herein, prejudice any right or rights which Agent or any Lender may now have or may have in the future under or in connection with the Credit Agreement or any of the documents referred to therein.  Except as expressly modified hereby, the terms and provisions of the Credit Agreement and any other documents or instruments executed in connection with any of the foregoing, are and shall remain in full force and effect, and the same are hereby ratified and confirmed by the Borrower in all respects.
		
	2.
	The Borrower agrees to reimburse and save Agent and Lenders harmless from and against liabilities for the payment of all 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 Limited Consent, including, without limitation, the reasonable fees and expenses of legal counsel to Agent which may be payable in respect of, or in respect of any modification of, this Limited Consent.

		
	3.
	This Limited Consent and the rights and obligations of the parties hereunder shall be construed in accordance with and be governed by the laws of the State of New York.

		
	4.
	This Limited Consent 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.

		
	5.
	This Limited Consent is a "Loan Document" as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto.

		
	6.
	This Limited Consent may be separately executed in counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same agreement.  Delivery of an executed signature page by facsimile or other electronic transmission shall be effective as delivery of a manual executed counterpart.    

Exhibit 10.20.5

This Limited Consent is dated effective as of March 4, 2016.
IN WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the date first set forth above.
	
		
	BORROWER:
CORENERGY INFRASTRUCTURE TRUST, INC.,
a Maryland corporation

	By:
	/s/  Richard C. Green

	 
	Name: Richard C. Green

	 
	Title:  Executive Chairman

[SIGNATURES CONTINUED ON FOLLOWING PAGES]

Exhibit 10.20.5

[Execution of Limited Consent Continued]
GUARANTORS:
	
				
	CORRIDOR PRIVATE HOLDINGS, INC., a Delaware corporation
	CORRIDOR PUBLIC HOLDINGS, INC., a Delaware corporation

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

	 
	 
	 
	 

	CORENERGY OPERATING PARTNERSHIP, LP,
a Delaware limited partnership
By its general partner 
CorEnergy GP, LLC
	MOWOOD CORRIDOR, INC.,
a Delaware corporation

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

	 
	 
	 
	 

	HUNTON GP, LLC,
a Delaware limited liability company
	HUNTON CORRIDOR, LP,
a Delaware limited partnership
By its general partner 
Hunton GP, LLC

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

	 
	 
	 
	 

	GRAND ISLE GP, INC.,
a Delaware corporation
	GRAND ISLE CORRIDOR, LP,
a Delaware limited partnership
By its general partner 
Grand Isle GP, Inc.

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

Exhibit 10.20.5

GUARANTORS:
	
				
	LCP OREGON HOLDINGS, LLC,
a Delaware limited liability company
	CORRIDOR BISON, LLC,
a Delaware limited liability company

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

	 
	 
	 
	 

	CORENERGY BBWS, INC.,
a Delaware corporation
	CORENERGY GP, LLC,
a Delaware limited liability company

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

	 
	 
	 
	 

	CORRIDOR MOGAS, INC.,
a Delaware corporation
	GRAND ISLE LP, INC.,
a Delaware corporation

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

	 
	 
	 
	 

	MOGAS PIPELINE LLC,
a Delaware limited liability company
	UNITED PROPERTY SYSTEMS, LLC,
a Delaware limited liability company

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

	 
	 
	 
	 

	CORRIDOR LEEDS PATH WEST,  INC.,
a Delaware corporation
	FOUR WOOD CORRIDOR, LLC,
a Delaware limited liability company

	By:
	/s/  Richard C. Green
	By:
	/s/  Richard C. Green

	Name:
	Name: Richard C. Green
	Name:
	Name: Richard C. Green

	Title:
	Chairman
	Title:
	Chairman

[SIGNATURES CONTINUED ON FOLLOWING PAGES]

Exhibit 10.20.5

	
			
	REGIONS BANK, as a Lender and as Agent 

	 
	 
	 

	By:
	/s/  Richard S. Kaufman
	 

	Name:
	Richard S. Kaufman
	 

	Title:
	Senior Vice President
	 

	 
	 
	 

	BANK OF AMERICA, N.A., as a Lender

	 
	 
	 

	By:
	/s/ Michael T. Letsch
	 

	Name:
	Michael T. Letsch
	 

	Title:
	Senior Vice President
	 

	 
	 
	 

	WELLS FARGO BANK, N.A., as a Lender

	 
	 
	 

	By:
	 
	 

	Name:
	 
	 

	Title:
	 
	 

	 
	 
	 

	BOKF, NA DBA

	BANK OF KANSAS CITY, as a Lender

	By:
	/s/ Bryan W. Palmer
	 

	Name:
	Bryan W. Palmer
	 

	Title:
	Vice President
	 

	 
	 
	 

	ARVEST BANK, as a Lender

	By:
	/s/ Barry P. Sullivan
	 

	Name:
	Barry P. Sullivan
	 

	Title:
	Senior Vice President
	 

	 
	 
	 

	ACADEMY BANK, N.A., as a Lender

	By:
	/s/ Jason Hilpipre
	 

	Name:
	Jason Hilpipre
	 

	Title:
	Vice President
	 

	 
	 
	 

	UMB BANK, N.A. as a Lender

	 
	 
	 

	By:
	/s/ Jess M. Adams
	 

	Name:
	Jess M. Adams
	 

	Title:
	Vice President

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