Document:

exv10w5

Exhibit 10.5

Northeast Ohio Natural Gas Corp.

Orwell Natural Gas Company

Brainard Gas Corp.

5.38% Senior Secured Guaranteed Note Due June 1, 2017

	 	 	 

	No. RA-1

	 	May 3, 2011
	$15,334,000

	 	PPN 66433* AA6

          For Value Received, the undersigned, Northeast Ohio Natural Gas Corp., a
corporation organized and existing under the laws of the State of Ohio, Orwell Natural Gas
Co., a corporation organized and existing under the laws of the State of Ohio, and
Brainard Gas Corp., a corporation organized and existing under the laws of the State of
Ohio (the aforementioned, collectively, being referred to as the “Issuers”), hereby jointly and
severally promise to pay to Sun Life Assurance Company of Canada, or registered assigns,
the principal sum of US$15,334,000 Dollars (or so much thereof as shall not have been
prepaid) on June 1, 2017, with interest (compounded semiannually and computed on the basis of a
360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 5.38% per
annum from the date hereof, payable monthly, on the third day of each month in each year, and at
maturity commencing with the third day of the month next succeeding the date hereof, until the
principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any
overdue payment of interest and, during the continuance of an Event of Default, on such unpaid
balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time
equal to the greater of (i) 7.38% or (ii) 2.00% over the rate of interest publicly announced by
Keybank National Association from time to time in Cleveland, Ohio as its “base” or “prime” rate,
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand).

          Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at the principal office of Keybank
National Association in Cleveland, Ohio or at such other place as the Issuers shall have designated
by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below.

          This Note is one of a series of Senior Secured Guaranteed Notes (herein called the “Notes”)
issued pursuant to the Note Purchase Agreement dated as of November 1, 2010, as amended by the
First Amendment and Joinder to Note Purchase Agreement dated as of May 3, 2011 (as so amended, and
as from time to time further amended, restated, supplemented or otherwise modified, the “Note
Purchase Agreement”), by and among the Issuers, the other Obligors named therein and the Purchaser
named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by
its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20
of the Note Purchase Agreement and (ii) made the representation set forth in Section 6.2 of the
Note Purchase Agreement. Unless otherwise

 

 

indicated, capitalized terms used in this Note shall
have the respective meanings ascribed to such terms in the Note Purchase Agreement.

          This Note and the obligations of the Issuers hereunder and the obligations of the Issuers
under the Financing Agreements are guaranteed pursuant to the Guarantee Agreement of the Guarantors
and the obligations of the Obligors under the Financing Agreements, including, this Note, are
secured by the Collateral Documents, all in accordance with and pursuant to the terms and
provisions of the Financing Agreements.

          This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender
of this Note for registration of transfer accompanied by a written instrument of transfer duly
executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a
new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Issuers may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Issuers will not be affected by any notice to the
contrary.

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

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

[Remainder of Page Intentionally Blank]

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          This Note shall be construed and enforced in accordance with, and the rights of the Issuers
and the holder of this Note shall be governed by, the law of the State of Ohio excluding
choice-of-law principles of the law of such State that would permit the application of the laws of
a jurisdiction other than such State.

	 	 	 	 	 
	 	Northeast Ohio Natural Gas Corp.

 	 
	 	By:  	/s/ Thomas J. Smith
 	 
	 	 	Name:  	Thomas J. Smith 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	Orwell Natural Gas Company

 	 
	 	By:  	/s/ Thomas J. Smith
 	 
	 	 	Name:  	Thomas J. Smith 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	Brainard Gas Corp.

 	 
	 	By:  	/s/ Thomas J. Smith
 	 
	 	 	Name:  	Thomas J. Smith 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

3exv10w6

Exhibit 10.6

Great Plains Natural Gas Company

Floating Rate Senior Secured Guaranteed Note Due May 3, 2014

	 	 	 

	No. RB-1

	 	May 3, 2011
	$3,000,000

	 	PPN 391190 B*5

          For Value Received, the undersigned, Great Plains Natural Gas Company, a
corporation organized and existing under the laws of the State of Ohio (the “Issuer”), hereby
promises to pay to Sun Life Assurance Company of Canada, or registered assigns, the
principal sum of US$3,000,000 Dollars (or so much thereof as shall not have been prepaid)
on May 3, 2014, with interest (computed on the basis of a 360-day year and actual days elapsed) (a)
on the unpaid balance thereof at a floating rate equal to Adjusted LIBOR Rate (as defined in the
Note Purchase Agreement referred to below) from the date hereof until maturity, payable quarterly
on the third day of each February, May, August and November in each year, commencing August 3,
2011, and at maturity, until the principal hereof shall have become due and payable, and (b) to the
extent permitted by law, on any overdue payment (including any overdue prepayment) of principal,
any overdue payment of interest and any overdue payment of any LIBOR Breakage Amount (as defined in
the Note Purchase Agreement referred to below), payable quarterly as aforesaid (or, at the option
of the registered holder thereof, on demand) at a rate per annum from time to time equal to the
Default Rate (as defined in the Note Purchase Agreement).

          Payments of principal of, interest on and any LIBOR Breakage Amount, if any, with respect to
this Note are to be made in lawful money of the United States of America at the principal office of
Keybank National Association in Cleveland, Ohio or at such other place as the Issuer shall have
designated by written notice to the holder of this Note as provided in the Note Purchase Agreement
referred to below.

          This Note is one of a series of Senior Secured Guaranteed Notes (herein called the “Notes”)
issued pursuant to the Note Purchase Agreement dated as of November 1, 2010, as amended by the
First Amendment and Joinder to Note Purchase Agreement dated as of May 3, 2011 (as so amended, and
as from time to time further amended, restated, supplemented or otherwise modified, the “Note
Purchase Agreement”), by and among the Issuer, the other Obligors named therein and the Purchaser
named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by
its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20
of the Note Purchase Agreement and (ii) made the representation set forth in Section 6.2 of the
Note Purchase Agreement. Unless otherwise
indicated, capitalized terms used in this Note shall have the respective meanings ascribed to
such terms in the Note Purchase Agreement.

          This Note and the obligations of the Issuer hereunder and the obligations of the Issuer under
the Financing Agreements are guaranteed pursuant to the Guarantee Agreement of the

 

 

Guarantors and the obligations of the Obligors under the Financing Agreements, including, this Note, are secured
by the Collateral Documents, all in accordance with and pursuant to the terms and provisions of the
Financing Agreements.

          This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender
of this Note for registration of transfer accompanied by a written instrument of transfer duly
executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a
new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Issuer may treat the person
in whose name this Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Issuer will not be affected by any notice to the contrary.

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

          If an Event of Default occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable LIBOR
Breakage Amount) and with the effect provided in the Note Purchase Agreement.

[Remainder of Page Intentionally Blank] 

2

 

Exhibit 10.6

This Note shall be construed and enforced in accordance with, and the rights of the Issuer and the
holder of this Note shall be governed by, the law of the State of Ohio excluding choice-of-law
principles of the law of such State that would permit the application of the laws of a jurisdiction
other than such State.

	 	 	 	 	 
	 	Great Plains Natural Gas Company, as the
Issuer

 	 
	 	By  	/s/ Thomas J. Smith
 	 
	 	 	Name:  	Thomas J. Smith 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

3

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