Document:

LIMITED GUARANTY AGREEMENT

 

This Limited Guaranty Agreement (as amended, amended and restated, supplemented or otherwise modified, renewed or replaced from time to time, this “Guaranty Agreement”), dated as of February 17, 2016, is executed by VOLT INFORMATION SCIENCES, INC., a New York corporation (“Guarantor”) in favor of Bank of America, N.A. (“Lender”).

 

RECITALS

 

WHEREAS, pursuant to that certain Loan and Security Agreement dated as of the date hereof by and between MAINTECH, INCORPORATED, a Delaware corporation (“Borrower”) and Lender (including all annexes, exhibits and schedules thereto, and as amended, amended and restated, supplemented and otherwise modified, renewed or replaced from time to time, the “Loan Agreement”), Lender has agreed to make loans and other financial accommodations to Borrower; and

 

WHEREAS, Guarantor is the indirect owner and holder of all of the Equity Interests of Borrower and, as a result thereof, Guarantor will benefit, directly or indirectly, from the credit facility and other financial accommodations provided to Borrower under the Loan Agreement; and

 

WHEREAS, it is a condition to the effectiveness of the Loan Agreement that this Guaranty Agreement be executed and delivered by the Guarantor.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor hereby agrees for the benefit of Lender as follows:

 

1.         DEFINITIONS. Except as specifically defined in this Guaranty Agreement, capitalized terms used herein shall have the respective meanings given thereto in the Loan Agreement (as in effect on the date hereof).  As used herein, “Other Loan Documents” mean the Loan Documents other than the Loan Agreement and this Guaranty Agreement.

 

2.         GUARANTY.

 

2.1        Guaranty.

 

(a)           Guarantor unconditionally and irrevocably guarantees to Lender the due and punctual payment and performance of the Obligations (the “Guaranteed Obligations”). Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from it, and it will remain bound upon this Guaranty Agreement notwithstanding any extension or renewal of any Guaranteed Obligation.

 

(b)           Guarantor, to the extent permitted by applicable law, waives (A)(i) presentation to, demand for payment from and protest to, as the case may be, Borrower or any other guarantor of any of the Guaranteed Obligations; (ii) notice of protest for nonpayment, notice of acceleration and notice of intent to accelerate; and (iii) the future change to the time, manner or place of payment of, or in any other term of all or any part of the Obligations.  The obligations of Guarantor hereunder shall not be affected by: (B) (i) the failure of Lender to assert any claim or demand or to exercise or enforce any right or remedy against Borrower or any other guarantor of any of the Guaranteed Obligations under the provisions of the Loan Agreement or any other Loan Document or otherwise; (ii) any extension or renewal of any provision of the Loan Agreement or any of the Other Loan Documents; 

   

  

 

  

   

(iii) any rescission, waiver, compromise, acceleration, amendment or modification of any of the terms or provisions of the Loan Agreement or of any Other Loan Document; (iv) the discharge or release by Lender of any other guarantor of such guarantor’s obligations (or any portion thereof); or (v) the failure to perfect any security interest in or the release, exchange, waiver or foreclosure of any security held by Lender for the Guaranteed Obligations. Guarantor specifically acknowledges and agrees that but for this Guaranty Agreement and the waivers made by Guarantor, Lender would not extend financial accommodations to Borrower.

 

(c)           Guarantor further agrees that this Guaranty Agreement constitutes a guaranty of performance and of payment when due and not just of collection, and waives, to the fullest extent permitted by applicable law, any right to require that any resort be had by Lender to any security held for payment of the Guaranteed Obligations or to any balance of any deposit, account or credit on the books of Lender in favor of Borrower or any other guarantor of any of the Guaranteed Obligations or to any other Person.

 

(d)           Guarantor hereby expressly acknowledges that Lender shall have no responsibility to keep Guarantor informed of the financial condition of Borrower or any other guarantor of any of the Guaranteed Obligations or of any circumstances affecting Borrower’s collateral or the ability of Borrower to perform under the Loan Agreement.

 

(e)           This Guaranty Agreement shall not be affected by the genuineness, validity, regularity or enforceability of the Guaranteed Obligations, or any other instrument evidencing any of the Guaranteed Obligations, or by the existence, validity, enforceability, perfection, or extent of any collateral therefor or by any other circumstance relating to the Guaranteed Obligations (other than final payment in full of the Guaranteed Obligations in cash) which might otherwise constitute a defense to this Guaranty Agreement. Lender makes no representation or warranty in respect to any such circumstances and has no duty or responsibility whatsoever to Guarantor in respect to the management and maintenance of the Guaranteed Obligations or Borrower’s collateral.

 

2.2        No Impairment of Guaranty.  Except as otherwise provided by Section 2.4 of this Guaranty Agreement, the Guaranteed Obligations shall not be subject to any reduction, limitation, impairment or termination for any reason, including, without limitation, any claim or waiver, release, surrender, alteration or compromise, and shall not be subject to any defense (other than by payment of the Guaranteed Obligations in full in cash) or set-off, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of Guarantor hereunder shall not be discharged or impaired or otherwise affected by the failure of Lender to assert any claim or demand or to enforce any remedy hereunder or under the Loan Agreement or any other Loan Document, by any waiver or delay, willful or otherwise, in the performance of the Guaranteed Obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of Guarantor or would otherwise operate as a discharge of Guarantor as a matter of law, unless and until the Guaranteed Obligations are paid in full.

 

2.3        Continuation and Reinstatement, etc.  Guarantor further agrees that its guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by Lender upon the bankruptcy or other reorganization of Borrower or any other guarantor of any of the Guaranteed Obligations or otherwise. 

   

  

2

  

    

In furtherance of the provisions of this Guaranty Agreement, and not in limitation of any other right which Lender may have at law or in equity against Borrower or any other guarantor of any of the Guaranteed Obligations, by virtue hereof, upon failure of Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, Guarantor hereby promises to and will, upon demand by Lender, forthwith pay or cause to be paid to Lender in cash an amount equal to the unpaid amount of all Guaranteed Obligations arising in connection with the Loan Agreement, together with interest on the portion thereof that represents outstanding Obligations at the rate provided for in the Loan Agreement.

 

All rights of Guarantor against Borrower or any other guarantor of the Obligations arising by way of right of subrogation or otherwise shall in all respects be subordinate and junior in right of payment to the prior payment in full only in cash of all the Guaranteed Obligations to Lender. In furtherance of the foregoing, until the Guaranteed Obligations have been paid in full in cash, (i) Guarantor hereby postpones and agrees not to exercise any right of subrogation, contribution or indemnification Guarantor has or may have as against Borrower or any other guarantor of the Obligations with respect to the Guaranteed Obligations; (ii) Guarantor hereby postpones and agrees not to exercise any right to proceed against Borrower or any other Person now or hereafter liable on account of the Obligations for contribution, indemnity, reimbursement, or any other similar rights (irrespective of whether direct or indirect, liquidated or contingent) with respect to the Guaranteed Obligations; and (iii) Guarantor hereby postpones and agrees not to exercise any right it may have to proceed or to seek recourse against or with respect to any property or asset of Borrower or any other Person now or hereafter liable on account of the Obligations in respect of the Guaranteed Obligations. If an amount shall be paid to Guarantor for the account of Borrower in respect of the rights referred to in this paragraph, such amount shall be held in trust for the benefit of Lender to be credited and applied to the Guaranteed Obligations, whether matured or unmatured.

 

2.4           Limitation on Guaranteed Amount.  Notwithstanding any other provision of this Guaranty Agreement, the amount guaranteed by Guarantor hereunder shall be limited (a) to an aggregate principal amount not to exceed $3,000,000, and (b) to such lesser amount to the extent, if any, required so that Guarantor’s obligations under this Guaranty Agreement shall not be rendered voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or to being set aside or annulled under any applicable state law or foreign statute relating to fraud on creditors or under common law. In determining the limitations under the foregoing clause (b), if any, on the amount of Guarantor’s obligations hereunder, any rights of subrogation or contribution which Guarantor may have under this Guaranty Agreement or applicable statute shall be taken into account.

 

3.         REPRESENTATIONS AND WARRANTIES.

 

Guarantor makes the following representations and warranties, all of which shall survive the execution and delivery of the Loan Agreement and this Guaranty Agreement:

 

(i)           the execution, delivery and performance of this Guaranty Agreement (a) will not violate any provision of applicable law, any order of any court or other agency of the United States or any state thereof, applicable to Guarantor or any of its properties or assets; (b) does not require the consent or approval of any Person or entity, including but not limited to any governmental authority, or any filing or registration of any kind except those already obtained; and (c) is the legal, valid and binding obligation of Guarantor enforceable against Guarantor in accordance with its terms, except to the extent that enforcement may be limited by applicable bankruptcy, insolvency and other similar laws affecting creditors’ rights generally, and general principles of equity;

    

  

3

  

    

(ii)           in executing and delivering this Guaranty Agreement, Guarantor has (a) without reliance on Lender or any information received from Lender and based upon such documents and information it deems appropriate, made an independent investigation of the transactions contemplated hereby and Borrower, Borrower’s business, assets, operations, prospects and condition, financial or otherwise, and any circumstances which may bear upon such transactions, Borrower or the obligations and risks undertaken herein with respect to the Guaranteed Obligations; (b) adequate means to obtain from Borrower on a continuing basis information concerning Borrower; (c) has full and complete access to the Loan Documents and any other documents executed in connection with the Loan Documents; and (d) not relied and will not rely upon any representations or warranties of Lender not embodied herein or any acts heretofore or hereafter taken by Lender (including but not limited to any review by Lender of the affairs of Borrower);

 

(iii)           the execution, delivery and performance of this Guaranty Agreement will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any properties or assets of Guarantor; and

 

(iv)           Guarantor (a) is the indirect owner and holder of all Equity Interests of Borrower; (b) has received, or will receive, direct and/or indirect benefit from the making of the Loans to Borrower; and (c) has received, or will receive, direct and/or indirect benefit from the making of this Guaranty Agreement with respect to the Guaranteed Obligations.

 

4.         MISCELLANEOUS

 

4.1        Notices. All communications and notices hereunder shall be in writing and given as provided in Section 12.3 of the Loan Agreement, provided that all communications and notices hereunder to Guarantor shall be given to Guarantor at the address set forth on the signature page hereof.

 

4.2        Binding Effect; Several Agreement; Assignments. Whenever in this Guaranty Agreement any of the parties hereto is referred to, such reference shall be deemed to include the executors, administrators, successors and assigns of such party; and all covenants, promises and agreements by or on behalf of Guarantor that are contained in this Guaranty Agreement shall bind and inure to the benefit of each party hereto and their respective executors, administrators, successors and assigns.  This Guaranty Agreement shall become effective as to Guarantor when a counterpart hereof executed on behalf of Guarantor shall have been delivered to Lender, and shall become effective as to Lender upon its acceptance of the same, and thereafter shall be binding upon Guarantor and Lender and their respective executors, administrators, successors and assigns, and shall inure to the benefit of Guarantor, Lender, and their respective executors, administrators, successors and assigns, except that Guarantor shall not have the right to assign its rights or obligations hereunder or an interest herein (and any such attempted assignment shall be void).

   

  

4

  

   

4.3        SERVICE OF PROCESS. GUARANTOR (I) HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE STATE COURTS OF THE STATE OF NEW YORK AND TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF OR BASED UPON THIS GUARANTY AGREEMENT, OR THE SUBJECT MATTER HEREOF BROUGHT BY LENDER OR ITS SUCCESSORS AND ASSIGNS, (II) HEREBY WAIVES, AND AGREES NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE, OR OTHERWISE, IN ANY SUCH SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT SUBJECT PERSONALLY TO THE JURISDICTION OF THE ABOVE-NAMED COURTS, THAT ITS PROPERTY IS EXEMPT OR IMMUNE FROM ATTACHMENT OR EXECUTION, THAT THE SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM, THAT THE VENUE OF THE SUIT, ACTION OR PROCEEDING IS IMPROPER, OR THAT THIS GUARANTY AGREEMENT OR THE SUBJECT MATTER HEREOF OR THEREOF MAY NOT BE ENFORCED IN OR BY SUCH COURT, AND (III) HEREBY AGREES NOT TO ASSERT ANY OFFSETS OR COUNTERCLAIMS (OTHER THAN COMPULSORY COUNTERCLAIMS) IN ANY SUCH ACTION, SUIT OR PROCEEDING. GUARANTOR HEREBY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 4.1 HEREOF, PROVIDED, HOWEVER, THAT NOTHING IN THIS GUARANTY AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.  A FINAL JUDGMENT AGAINST GUARANTOR IN ANY SUCH ACTION, SUIT OR PROCEEDING SHALL BE CONCLUSIVE, AND MAY BE ENFORCED IN OTHER JURISDICTIONS (X) BY SUIT, ACTION OR PROCEEDING ON THE JUDGMENT, A CERTIFIED OR TRUE COPY OF WHICH SHALL BE CONCLUSIVE EVIDENCE OF THE FACT AND OF THE AMOUNT OF ANY INDEBTEDNESS OR LIABILITY OF GUARANTOR OR (Y) IN ANY OTHER MANNER PROVIDED BY OR PURSUANT TO THE LAWS OF SUCH OTHER JURISDICTION, PROVIDED, HOWEVER, THAT LENDER MAY AT ITS OPTION BRING SUIT, OR INSTITUTE OTHER JUDICIAL PROCEEDINGS AGAINST GUARANTOR OR ANY OF ITS ASSETS IN ANY STATE OR FEDERAL COURT OF THE UNITED STATES OR OF ANY COUNTRY OR PLACE WHERE GUARANTOR OR SUCH ASSETS MAY BE FOUND.

 

4.4        GOVERNING LAW. THIS GUARANTY AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (BUT WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICT OF LAWS).

 

4.5        No Waiver, etc. Neither a failure nor a delay on the part of Lender in exercising any right, power or privilege under this Guaranty Agreement shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of Lender expressly specified herein are cumulative and not exclusive of any other rights, remedies or benefits which Lender may have under this Guaranty Agreement, at law, in equity, by statute, or otherwise.

 

4.6        Modification, etc. No modification, amend­ment or waiver of any provision of this Guaranty Agreement, nor the consent to any departure by Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by Lender and Guarantor, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on Guarantor in any case shall entitle Guarantor to any other or further notice or demand in the same, similar or other circumstances.

 

4.7        Severability. If any one or more of the provisions contained in this Guaranty Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall in no way be affected or impaired thereby.

   

  

5

  

   

4.8        Headings. Section headings used herein are for convenience of reference only and are not to affect the construction of, or be taken into consideration in interpreting, this Guaranty Agreement.

 

4.9        Counterparts. This Guaranty Agreement may be executed in counterparts, each of which shall constitute an original, but all of which when taken to together shall constitute a single contract, and shall become effective as provided in Section 4.2. Delivery of an executed signature page to this Guaranty Agreement by facsimile or other electronic transmission shall be as effective as delivery of a manually executed counterpart to this Guaranty Agreement.

 

4.10       WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, GUARANTOR HEREBY WAIVES AND COVENANTS (WHICH LENDER HEREBY ALSO WAIVES AND COVENANTS) THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS GUARANTY AGREEMENT OR THE SUBJECT MATTER HEREOF, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING OR WHETHER IN CONTRACT OR TORT OR OTHERWISE. GUARANTOR ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY LENDER THAT THE PROVISIONS OF THIS SECTION 4.10 CONSTITUTE A MATERIAL INDUCEMENT UPON WHICH LENDER HAS RELIED, IS RELYING AND WILL RELY IN ENTERING INTO THIS GUARANTY AGREEMENT.  GUARANTOR AND LENDER MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 4.10 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF GUARANTOR TO THE WAIVER OF ITS RIGHTS TO TRIAL BY JURY.

 

4.11       Right of Setoff. If an Event of Default under the Loan Agreement shall have occurred and be continuing, Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by Lender to or for the credit or the account of Guarantor against any or all of the obligations of Guarantor now or hereafter existing under this Guaranty Agreement and the other Loan Documents held by Lender, irrespective of whether or not Lender shall have made any demand under this Guaranty Agreement or any other Loan Document and although such obligations may be unmatured.  The rights of Lender under this Section 4.11 are in addition to the other rights and remedies (including other rights of setoff) which Lender may have.

  

  

[Remainder of page intentionally left blank]

 

 

 

 

 

 

 

 

  

6

  

    

IN WITNESS WHEREOF, Guarantor has executed this Guaranty Agreement as of the date first written above.

 

	Address for Guarantor:	VOLT INFORMATION SCIENCES, INC.	 
	 	 	 	 	 
	1133 Avenue of the Americas	 	 	 	 
	New York, NY 10036 	By: 	/s/ Kevin Hannon	 
	 	Name: 	Kevin Hannon	 
	 	Title: 	VP & Treasurer	 
	 	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Limited Guaranty Agreement]Exhibit

Exhibit 10.1

SECOND AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT

This Second Amendment to Amended and Restated Credit Agreement (this “Second Amendment”) is entered into as of February 17, 2016 (the “Second Amendment Effective Date”), by and among Denbury Resources Inc., a Delaware corporation (“Borrower”), JPMorgan Chase Bank, N.A., as Administrative Agent (“Administrative Agent”), and the financial institutions party hereto as Lenders (hereinafter collectively referred to as the “Executing Lenders”, and each individually, an “Executing Lender”).
W I T N E S S E T H
WHEREAS, Borrower, Administrative Agent, the other agents party thereto and Lenders are parties to that certain Amended and Restated Credit Agreement dated as of December 9, 2014 (as amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”; unless otherwise defined herein, all terms used herein with their initial letter capitalized shall have the meaning given such terms in the Credit Agreement, including, to the extent applicable, after giving effect to the amendments set forth in Section 1 of this Second Amendment);

WHEREAS, pursuant to the Credit Agreement, Lenders have extended credit in the form of Loans to Borrower and provided certain other credit accommodations to Borrower;

WHEREAS, Borrower has requested that Lenders amend certain provisions contained in the Credit Agreement as more specifically provided for herein; and
WHEREAS, subject to and upon the terms and conditions set forth herein, Executing Lenders have agreed to enter into this Second Amendment to amend certain provisions of the Credit Agreement as more specifically provided for herein.
NOW THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, Borrower, Administrative Agent and Executing Lenders hereby agree as follows:

Section 1.Amendments to Credit Agreement.  In reliance on the representations, warranties, covenants and agreements contained in this Second Amendment, and subject to the satisfaction or waiver of the conditions precedent set forth in Section 3 hereof, the Credit Agreement shall be amended effective as of the Second Amendment Effective Date in the manner provided in this Section 1.

1.1    Additional Definitions.  Section 1.1 of the Credit Agreement shall be amended to add thereto in alphabetical order the following definitions, which shall read in full as follows:

- 1 -

“Excess Cash” means any unrestricted cash or cash equivalents of the Borrower and the other Credit Parties that, when taken as a whole, is in excess of $225,000,000 at any time; provided that:
(a)     any cash or cash equivalents of the Borrower and the other Credit Parties from the following sources shall not be deemed to be “Excess Cash”: (i) the issuance of any Permitted Additional Debt, Permitted Refinancing Indebtedness, or other unsecured Indebtedness incurred under Section 10.1(m), (ii) the issuance by the Borrower of any Stock in the Borrower, or (iii) any Disposition of property, in each case, so long as (A) such issuances are made or such proceeds are received by the Borrower or such other Credit Party after the Second Amendment Effective Date, and (B) the Borrower and the other Credit Parties keep any such proceeds that they may receive in segregated accounts and do not commingle such proceeds with other cash until any such proceeds are used for the purpose(s) obtained, as the case may be; and
(b)    any cash or cash equivalents of the Borrower and the other Credit Parties shall be excluded from the determination of “Excess Cash” to the extent the Borrower or such other Credit Party is holding such cash or cash equivalents for the exclusive purpose of prepaying, repurchasing, redeeming or defeasing Senior Subordinated Notes or any Permitted Additional Debt pursuant to (and in amounts not exceeding the maximum amounts of such payments permitted under) Section 10.7(a)(iii); provided further that (i) to the extent the Borrower would otherwise be required to make a mandatory prepayment of Loans pursuant to Section 5.2(e) if this clause (b) were given no effect, on the date such prepayment would have otherwise been due, the Borrower shall deliver to the Administrative Agent a certificate of a Authorized Officer of the Borrower certifying that such cash or cash equivalents is being held for such purpose and (ii) any cash or cash equivalents excluded from “Excess Cash” pursuant to this clause (b) shall cease to be so excluded on the 30th day following the due date of the certificate referred to in the foregoing clause (i).
“Second Amendment” shall mean that certain Second Amendment to Amended and Restated Credit Agreement dated as of the Second Amendment Effective Date among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto.
“Second Amendment Effective Date” shall mean February 17, 2016.
1.2    Deletion of Definitions.  The definitions of “Collateral Coverage Ratio” and “Mortgaged Present Value” contained in Section 1.1 of the Credit Agreement are hereby deleted in their entirety.

1.3    Restatement of Definitions. The definitions of “Collateral Coverage Minimum”, “Commitment”, “Consolidated Interest Charges”, and “Credit Documents” contained in Section 1.1 of the Credit Agreement shall be amended and restated to read in full as follows:

- 2 -

“Collateral Coverage Minimum” shall mean, at any time, an amount of Mortgaged Properties having a PV-9 value equal to 85% of the PV-9 of all Borrowing Base Properties at such time; provided that during any Investment Grade Period, the Collateral Coverage Minimum shall mean an amount of Mortgaged Properties having a PV-9 value equal to $0.
“Commitment” shall mean, (a) with respect to each Lender that is a Lender on the Second Amendment Effective Date, the amount set forth opposite such Lender’s name on Schedule 1.1(a) as such Lender’s “Commitment” (as amended by any Incremental Agreement) and (b) in the case of any Lender that becomes a Lender after the Second Amendment Effective Date, (i) the amount specified as such Lender’s “Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the Total Commitment or (ii) the amount specified in Schedule 1.1(a) as amended by any Incremental Agreement; in each case, as the same may be changed from time to time pursuant to terms of this Agreement.  The aggregate amount of the Commitments as of the Second Amendment Effective Date is $1,500,000,000.
“Consolidated Interest Charges” means, for any period, for the Borrower and its Restricted Subsidiaries on a consolidated basis, the sum of (a) all interest expense of the Borrower and its Restricted Subsidiaries for such period in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP (but excluding amortization of debt discount and issuance cost and any write-off of debt issuance cost), (b) interest expense (imputed or otherwise) attributable to Capitalized Lease Obligations of the Borrower and its Restricted Subsidiaries for such period, and (c) surety bond fees and related expenses of the Borrower and its Restricted Subsidiaries for such period in connection with financing activities.
“Credit Documents” shall mean this Agreement, the First Amendment, the Second Amendment, the Guarantee, the Security Documents, and any promissory notes issued by the Borrower under this Agreement and any other agreements executed by Credit Parties in connection with this Agreement and expressly identified as “Credit Documents” therein.
1.4    Amendments to Definitions.  

(a)The definition of “Applicable Equity Amount” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the reference to “Section 10.7(c)(iii)” contained therein and inserting in lieu thereof a reference to “Section 10.7(a)(i)(C)”.

(b)The definition of “Applicable Margin” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the “Borrowing Base Utilization Grid” contained therein and replacing it with the following grid:

- 3 -

	
						
	Borrowing Base Utilization Grid

	Borrowing 
Base 
Utilization Percentage
	X < 
25%
	≥ 25% X <50%
	≥ 50% X 
<75%
	≥ 75% X 
<90%
	X ≥ 90%

	LIBOR Loans
	2.000%
	2.250%
	2.500%
	2.750%
	3.000%

	ABR Loans
	1.000%
	1.250%
	1.500%
	1.750%
	2.000%

	Commitment 
Fee Rate
	0.500%
	0.500%
	0.500%
	0.500%
	0.500%

(c)The definition of “Reserve Report” contained in Section 1.1 of the Credit Agreement is hereby amended by inserting “or June 30th, as applicable” immediately after the reference to “December 31st” therein.

1.5    Amendments to Section 2.14.  

(a)    The first sentence of Section 2.14(b) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

The Borrowing Base shall be redetermined semi-annually in accordance with this Section 2.14 (a “Scheduled Redetermination”), and, subject to Section 2.14(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuer and the Lenders on May 1st and November 1st of each year, commencing May 1, 2016.
(b)    Section 2.14(c)(ii)(A) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:
(A)    in the case of a Scheduled Redetermination (1) if the Administrative Agent shall have received the Engineering Reports required to be delivered by the Borrower pursuant to Sections 9.13(a) and (b) in a timely manner, then on or before April 15th or October 15th of such year, as applicable (or such date promptly thereafter as reasonably practicable) or (2) if the Administrative Agent shall not have received the Engineering Reports required to be delivered by the Borrower pursuant to Sections 9.13(a) and (b) in a timely manner, then within 15 days (or such date promptly thereafter as reasonably practicable) after the Administrative Agent has received complete Engineering Reports from the Borrower and has had a reasonable opportunity to determine the Proposed Borrowing Base in accordance with Section 2.14(c)(i); and
(c)    Section 2.14(d)(i) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

- 4 -

(i)    in the case of a Scheduled Redetermination, (A) if the Administrative Agent shall have received the Engineering Reports required to be delivered by the Borrower pursuant to Sections 9.13(a) and (b) in a timely and complete manner, on the May 1st or November 1st, as applicable, following such notice, or (B) if the Administrative Agent shall not have received the Engineering Reports required to be delivered by the Borrower pursuant to Sections 9.13(a) and (b) in a timely and complete manner, then on the Business Day next succeeding delivery of such New Borrowing Base Notice; and
1.6    Amendment to Section 5.2.  Section 5.2 of the Credit Agreement is hereby amended by adding a new clause (e) thereto, which clause (e) shall read in full as follows:

(e)     Excess Cash Balances.  If on any Business Day (i) the aggregate principal amount of outstanding Loans under this Agreement exceeds $250,000,000 and (ii) the Borrower or any other Credit Party have any Excess Cash on such date, then the Borrower shall prepay the Borrowings on or before the third Business Day following such date in an amount equal to such Excess Cash.  Each prepayment of Borrowings pursuant to this Section 5.2(e) shall be applied in accordance with Section 5.2(c).  Prepayments pursuant to this Section 5.2(e) shall be accompanied by accrued interest to the extent required by Section 2.8.
1.7    New Section 7.3.  A new Section 7.3 is hereby added to the Credit Agreement immediately following Section 7.2 thereof, which Section 7.3 shall read in full as follows:

7.3    Excess Cash Balances.  The Borrower may not borrow any Loans to the extent that (a) the Borrower and the Credit Parties have any Excess Cash at such time or (b) any such Loan would trigger a mandatory prepayment requirement under Section 5.2(e). 
1.8    Amendment to Section 9.13.  Section 9.13(a) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

(a)    On or before April 1st and October 1st of each year, commencing April 1, 2016, the Borrower shall furnish to the Administrative Agent a Reserve Report evaluating, as of the immediately preceding December 31st or June 30th, respectively, the Proved Reserves of the Borrower and the other Credit Parties located within the geographic boundaries of the United States of America (or the Outer Continental Shelf adjacent to the United States of America) that the Borrower desires to have included in any calculation of the Borrowing Base.  Each Reserve Report as of December 31 shall be prepared, at the Borrower’s election, (i) by the Borrower’s in-house engineering staff and audited by one or more Approved Petroleum Engineers; provided that so long as such audit covers at least 80% of the total value of Proved Reserves set forth in such Reserve Report, with the remaining value covered by a report prepared by the Borrower’s in-house engineering staff or (ii) by one or more Approved Petroleum Engineers

- 5 -

provided so long as such report covers at least 80% of the total value of Proved Reserves set forth in such Reserve Report, with the remaining value covered by the Borrower’s in-house engineering staff.  Each June 30 Reserve Report shall be prepared by or under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report (x) to be true and accurate in all material respects and (y) to have been prepared in accordance with the procedures used in the immediately preceding December 31 Reserve Report.  
1.9    Amendments to Section 10.7 of the Credit Agreement.  

(a)Section 10.7(a) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:

(a)    The Borrower will not, and will not permit any Restricted Subsidiary to, prepay, repurchase or redeem or otherwise defease the Senior Subordinated Notes, any Permitted Additional Debt comprised of unsecured senior subordinated or unsecured subordinated Indebtedness (it being understood that payments of regularly scheduled cash interest and any AHYDO Payments in respect of the Senior Subordinated Notes or such Permitted Additional Debt shall be permitted); provided, however, that the Borrower or any Subsidiary may prepay, repurchase, redeem or defease the Senior Subordinated Notes or any such Permitted Additional Debt (i) (A) with the proceeds of any Permitted Refinancing Indebtedness (or with any Permitted Refinancing Indebtedness that is otherwise issued in exchange for such Senior Subordinated Notes or such Permitted Additional Debt), (B) with the proceeds of any Permitted Additional Debt (or with Permitted Additional Debt that is otherwise issued in exchange for such Senior Subordinated Notes or such Permitted Additional Debt) or (C) with the proceeds from the issuance of Stock by the Borrower, in each case, so long as such prepayment, repurchase, redemption or defeasance occurs within 90 days following the Borrower’s or such other Restricted Subsidiary’s incurrence or issuance of such Permitted Refinancing Indebtedness, Permitted Additional Debt or Stock, as applicable, (ii) by converting or exchanging the Senior Subordinated Notes or any such Permitted Additional Debt to Stock (other than Disqualified Stock) of the Borrower or any of its direct or indirect parent or (iii) so long as, after giving pro forma effect to such prepayment, repurchase, redemption or defeasance, (A) no Event of Default has occurred and is continuing, (B) the Available Commitment is not less than 20% of the then effective Loan Limit, and (C) the sum of all prepayments, repurchases, redemptions or defeasements made on or after the Second Amendment Effective Date pursuant to this Section 10.7(a)(iii) is not greater than $225,000,000.
(b)    Section 10.7(c) of the Credit Agreement is hereby amended by deleting clause (iii) thereto in its entirety, and by inserting “or” immediately following the reference to “any such repayment or prepayment” in clause (i) thereto.
1.10    Amendments to Section 10.11 of the Credit Agreement.  Section 10.11 of the Credit Agreement is hereby amended as follows:

- 6 -

(a)Section 10.11(c) of the Credit Agreement is hereby amended by deleting the reference to “2.50 to 1.00” therein and inserting in lieu thereof “3.00 to 1.00”.

(b)Section 10.11(d) of the Credit Agreement is hereby amended by deleting the reference to “2.25 to 1.00” therein and inserting in lieu thereof “1.25 to 1.00”.

1.11    Amendment to Schedule 1.1(a) to the Credit Agreement.  Schedule 1.1(a) to the Credit Agreement is hereby replaced in its entirety with Schedule 1.1(a) attached hereto and Schedule 1.1(a) attached hereto shall be deemed to be attached as Schedule 1.1(a) to the Credit Agreement.

Section 2.Reduction in Total Commitments.  Pursuant to Section 4.2 of the Credit Agreement, the Borrower hereby elects to reduce the Total Commitments to $1,500,000,000, and the Total Commitments are hereby reduced to $1,500,000,000 effective as of the Second Amendment Effective Date. 

Section 3.Conditions Precedent to Amendment.  Subject to the satisfaction (or waiver) of the following conditions, the amendments to the Credit Agreement contained in Section 1 hereof shall each be effective on the Second Amendment Effective Date:

3.1    Counterparts.  Administrative Agent shall have received counterparts hereof duly executed by an Authorized Officer of each of Borrower, the Guarantors and the Majority Lenders.

3.2    No Default; No Borrowing Base Deficiency.  No Default or Event of Default shall have occurred which is continuing, and no Borrowing Base Deficiency shall then exist.

3.3    Amendment to Pledge Agreement.  Administrative Agent shall have received counterparts of an amendment to the Pledge Agreement duly executed by an Authorized Officer of each of the Borrower and the Guarantors in the form of Exhibit A hereto.  The Lenders party hereto hereby consent to such amendment to the Pledge Agreement.

3.4    Other Documents.  Administrative Agent shall have been provided with such documents, instruments and agreements, and Borrower shall have taken such actions, in each case as Administrative Agent may reasonably require in connection with this Second Amendment and the transactions contemplated hereby.

Section 4.Post-Closing Covenants.  

4.1    The Borrower shall, and shall cause the other Credit Parties to, deliver control agreements with respect to their respective deposit accounts, securities accounts and commodities accounts in accordance with the terms of and at such times as specified in Section 4(b) of the Pledge Agreement (as amended pursuant to the amendment thereto attached as Exhibit A hereto).

4.2    The Borrower shall, and shall cause its Restricted Subsidiaries to grant, within 60 days of the Second Amendment Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), to the Administrative Agent as security for the 

- 7 -

Obligations a first-priority Lien (subject to Liens permitted by Section 10.2) on additional Oil and Gas Properties not already subject to a Lien of the Security Documents such that, after giving effect thereto, the PV-9 of the Mortgaged Properties (calculated at the time of redetermination) equals or exceeds the Collateral Coverage Minimum.  All such Liens will be created and perfected by and in accordance with the provisions of the Security Documents, including, if applicable, any additional Mortgages.  

4.3    The Borrower’s failure to timely comply with this Section 4 (after giving effect to any applicable extensions of deadlines by the Administrative Agent to the extent permitted hereunder or under such amended Pledge Agreement) shall constitute an immediate Event of Default with no notice or cure periods.

Section 5.Representations and Warranties.  To induce Executing Lenders and Administrative Agent to enter into this Second Amendment, Borrower hereby represents and warrants to Lenders and Administrative Agent as follows as of the Second Amendment Effective Date:

5.1    Reaffirm Existing Representations and Warranties.  Each representation and warranty of Borrower contained in the Credit Agreement and the other Credit Documents is true and correct in all material respects (unless such representations and warranties are already qualified by materiality, Material Adverse Effect or a similar qualification in which case such representations and warranties shall be true and correct in all respects) with the same effect as though each such representation and warranty had been made on and as of the Second Amendment Effective Date (except where any such representation and warranty expressly relates to an earlier date, in which case each such representation and warranty shall have been true and correct in all material respects as of such earlier date).

5.2    Due Authorization.  The execution, delivery and performance by Borrower of this Second Amendment are within Borrower’s corporate or organizational powers, have been duly authorized by all necessary action, and require no action by or in respect of, or filing with, any governmental body, agency or official.

5.3    Validity and Enforceability.  This Second Amendment constitutes the valid and binding obligation of Borrower enforceable in accordance with its terms, except as (a) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (b) the availability of equitable remedies may be limited by equitable principles of general application.

5.4    No Defense.  Borrower acknowledges that Borrower has no defense to (a) Borrower’s obligation to pay the Obligations when due, or (b) the validity, enforceability or binding effect against Borrower of the Credit Agreement or any of the other Credit Documents or any Liens intended to be created thereby.

Section 6.Miscellaneous.

6.1    No Waivers.  No failure or delay on the part of Administrative Agent or Lenders to exercise any right or remedy under the Credit Agreement, any other Credit Documents or applicable law shall operate as a waiver thereof, nor shall any single or partial exercise of any 

- 8 -

right or remedy preclude any other or further exercise of any right or remedy, all of which are cumulative and may be exercised without notice except to the extent notice is expressly required (and has not been waived) under the Credit Agreement, the other Credit Documents and applicable law.

6.2    Reaffirmation of Credit Documents. Any and all of the terms and provisions of the Credit Agreement and the other Credit Documents shall, except as amended and modified hereby (or by the amendment to the Pledge Agreement referred to herein), remain in full force and effect.  The amendments contemplated hereby or thereby shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified, affirmed and extended to secure the Obligations.

6.3    Legal Expenses.  Borrower hereby agrees to pay on demand all reasonable fees and expenses of counsel to Administrative Agent incurred by Administrative Agent in connection with the preparation, negotiation and execution of this Second Amendment and all related documents.

6.4    Parties in Interest.  All of the terms and provisions of this Second Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and assigns.

6.5    Counterparts.  This Second Amendment may be executed in counterparts (including, without limitation, by electronic signature), and all parties need not execute the same counterpart; however, no party shall be bound by this Second Amendment until Borrower, the Guarantors and Majority Lenders have executed a counterpart.  Facsimiles and counterparts executed by electronic signature (e.g., .pdf) shall be effective as originals.

6.6    Complete Agreement.  THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES.

6.7    Headings.  The headings, captions and arrangements used in this Second Amendment are, unless specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the terms of this Second Amendment, nor affect the meaning thereof.

6.8    Governing Law.  THIS SECOND AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

6.9    Severability.  Any provision of this Second Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

- 9 -

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

[Signature pages follow.]

- 10 -

IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed by their respective authorized officers effective as of the Second Amendment Effective Date.

	
			
	 
	BORROWER:

	 
	DENBURY RESOURCES INC.,

	 
	a Delaware corporation

	 
	 
	 

	 
	By:
	/s/ Mark C. Allen

	 
	Name:
	Mark C. Allen

	 
	Title:
	Senior Vice President and Chief Financial Officer

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

Each of the undersigned (i) consent and agree to this Second Amendment, and (ii) agree that the Credit Documents to which it is a party shall remain in full force and effect and shall continue to be the legal, valid and binding obligation of such Person, enforceable against it in accordance with its terms.

	
			
	 
	 

	 
	GUARANTORS:

	 
	DENBURY GATHERING & MARKETING, INC.

	 
	DENBURY HOLDINGS, INC.

	 
	DENBURY OPERATING COMPANY

	 
	DENBURY ONSHORE, LLC

	 
	DENBURY PIPELINE HOLDINGS, LLC

	 
	DENBURY AIR, LLC

	 
	DENBURY GREEN PIPELINE-TEXAS, LLC

	 
	DENBURY GULF COAST PIPELINES, LLC

	 
	GREENCORE PIPELINE COMPANY LLC

	 
	DENBURY GREEN PIPELINE-MONTANA, LLC

	 
	DENBURY GREEN PIPELINE-RILEY RIDGE, LLC

	 
	DENBURY THOMPSON PIPELINE, LLC

	 
	ENCORE PARTNERS GP HOLDINGS, LLC

	 
	PLAIN ENERGY HOLDINGS, LLC

	 
	 
	 

	 
	By:
	/s/ Mark C. Allen

	 
	Name:
	Mark C. Allen

	 
	Title:
	Senior Vice President and Chief Financial Officer

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	ADMINISTRATIVE AGENT/LENDER:

	 
	 

	 
	JPMORGAN CHASE BANK, N.A.

	 
	as Administrative Agent and a Lender

	 
	 
	 

	 
	By:
	/s/ Robert L. Mendoza

	 
	Name:
	Robert L. Mendoza

	 
	Title:
	Senior Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	LENDERS:

	 
	 

	 
	BANK OF AMERICA, N.A.,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Ronald E. McKaig

	 
	Name:
	Ronald E. McKaig

	 
	Title:
	Managing Director

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Tom K. Martin

	 
	Name:
	Tom K. Martin

	 
	Title:
	Director

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CAPITAL ONE, NATIONAL ASSOCIATION,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Victor Ponce de Leõn

	 
	Name:
	Victor Ponce de Leõn

	 
	Title:
	Senior Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Trudy Nelson

	 
	Name:
	Trudy Nelson

	 
	Title:
	Authorized Signatory

	 
	 
	 

	 
	By:
	/s/ Richard Antl

	 
	Name:
	Richard Antl

	 
	Title:
	Authorized Signatory

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	COMERICA BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Brandon M. White

	 
	Name:
	Brandon M. White

	 
	Title:
	Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	COMPASS BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Blake Kirshman

	 
	Name:
	Blake Kirshman

	 
	Title:
	Senior Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Mark Roche

	 
	Name:
	Mark Roche

	 
	Title:
	Managing Director

	 
	 
	 

	 
	By:
	/s/ Michael Willis

	 
	Name:
	Michael Willis

	 
	Title:
	Managing Director

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Nupur Kumar

	 
	Name:
	Nupur Kumar

	 
	Title:
	Authorized Signatory

	 
	 
	 

	 
	By:
	/s/ Warren Van Heyst

	 
	Name:
	Warren Van Heyst

	 
	Title:
	Authorized Signatory

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	ROYAL BANK OF CANADA,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Jay T. Sartain

	 
	Name:
	Jay T. Sartain

	 
	Title:
	Authorized Signatory

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	SANTANDER BANK, N.A.,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Aidan Lanigan

	 
	Name:
	Aidan Lanigan

	 
	Title:
	Senior Vice President

	 
	 
	 

	 
	By:
	/s/ Puiki Lok

	 
	Name:
	Puiki Lok

	 
	Title:
	Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	THE BANK OF NOVA SCOTIA,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Mark Sparrow

	 
	Name:
	Mark Sparrow

	 
	Title:
	Director

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	UBS AG, STAMFORD BRANCH,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Darlene Arias

	 
	Name:
	Darlene Arias

	 
	Title:
	Director

	 
	 
	 

	 
	By:
	/s/ Craig Pearson

	 
	Name:
	Craig Pearson

	 
	Title:
	Associate Director

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	ING CAPITAL LLC,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Josh Strong

	 
	Name:
	Josh Strong

	 
	Title:
	Director

	 
	 
	 

	 
	By:
	/s/ Scott Lamoreaux

	 
	Name:
	Scott Lamoreaux

	 
	Title:
	Director

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	SUNTRUST BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ William S. Krueger

	 
	Name:
	William S. Krueger

	 
	Title:
	First Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	KEYBANK NATIONAL ASSOCIATION,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ George McKean

	 
	Name:
	George McKean

	 
	Title:
	Senior Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	SUMITOMO MITSUI BANKING CORPORATION,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Katsuyuki Kubo

	 
	Name:
	Katsuyuki Kubo

	 
	Title:
	Managing Director

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	FIFTH THIRD BANK,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Richard Butler

	 
	Name:
	Richard Butler

	 
	Title:
	Senior Vice President

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

	
			
	 
	 

	 
	 

	 
	GOLDMAN SACHS BANK USA,

	 
	as a Lender

	 
	 
	 

	 
	By:
	/s/ Jerry Li

	 
	Name:
	Jerry Li

	 
	Title:
	Authorized Signatory

Signature Page
Second Amendment to Amended and Restated Credit Agreement
Denbury Resources Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}]]