Document:

Exhibit 4.4

 

THIS SECURITY IS REPRESENTED BY A GLOBAL NOTE
REGISTERED IN THE NAME OF THE DEPOSITARY (REFERRED TO HEREIN) OR A NOMINEE
THEREOF AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE FOR THE INDIVIDUAL NOTES
REPRESENTED HEREBY AS PROVIDED IN THE INDENTURE REFERRED TO BELOW, THIS
SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK), TO THE TRUSTEE
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND
ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

AMEREN CORPORATION

8.875% SENIOR NOTE DUE 2014

 

	
  CUSIP: 023608 AE2

  	
  NUMBER:  R-1

  
	
   

  	
   

  
	
  ORIGINAL ISSUE DATE: May 15, 2009

  	
  PRINCIPAL AMOUNT:  Listed on Schedule I
  hereto

  

 

MATURITY DATE:  May 15,
2014

 

AMEREN CORPORATION, a corporation of the State of
Missouri (the “Company”), for value received hereby promises to pay to CEDE &
CO., or registered assigns, the principal amount specified above on the
Maturity Date set forth above, and to pay interest thereon from and including
the Original Issue Date specified above or from and including the most recent
interest payment date to which interest has been paid or duly provided for
semi-annually on May 15 and November 15
of each year, commencing November 15, 2009, and on the Maturity Date (each, an “Interest Payment Date”), at the rate of 8.875% per annum (the “Interest
Rate”) until the
principal hereof is paid or made available for payment.  No interest shall accrue on the Maturity
Date, so long as the principal amount of this Note is paid in full on the
Maturity Date.

 

The amount of interest
payable on any Interest Payment Date shall be computed on the basis of a
360-day year consisting of twelve 30-day months.  In the event that any date on which interest
is payable on this Note is not a Business Day, then payment of interest payable
on such date will be made on the next succeeding day that is a Business Day
(and without any interest or other payment in respect of any such delay), with
the same force and effect as if made on such date.  The interest installment so payable, and
punctually paid or duly provided for, on any Interest Payment Date (except for
interest payable on the Maturity Date or, if applicable, 

 

 

acceleration)
will, as provided in the Indenture (referred to herein), be paid to the person
in whose name this Note is registered at the close of business on the Regular
Record Date for such interest installment, which shall be the May 1 and November 1
as the case may be, next preceding such Interest Payment Date; provided, that
interest payable on the Maturity Date set forth above or, if applicable, upon
acceleration, shall be payable to the Person to whom principal shall be payable.  Except as otherwise provided in the
Indenture, any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and
shall be paid to the Person in whose name this Note is registered at the close
of business on a Special Record Date for the payment of such defaulted interest
to be fixed by the Trustee, notice whereof shall be given to Noteholders not
fewer than ten days prior to such Special Record Date.

 

Payment of the principal of and interest and
premium on this Note shall be payable pursuant to Section 2.12(a) of
the Indenture.

 

This Note is a Global Note issued in respect
of a duly authorized issue of Notes designated “8.875% Senior Notes due 2014”
(the “Notes of this Series”, which term includes any Global Notes representing
such Notes) of the Company issued and to be issued under an Indenture dated as
of December 1, 2001 between the Company and The Bank of New York (The Bank
of New York Mellon Trust Company, N.A., successor), as trustee (herein called
the “Trustee”, which term includes any successor Trustee under the Indenture)
and indentures supplemental thereto (collectively, the “Indenture”).  Under the Indenture, one or more series of
notes may be issued and, as used herein, the term “Notes” refers to the Notes
of this Series.  Reference is hereby made
to the Indenture for a more complete statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Noteholders and of the terms upon which the Notes are and are
to be authenticated and delivered.

 

Each Note of this Series shall be dated
and issued as of the date of its authentication by the Trustee and shall bear
an Original Issue Date.  Each Note of
this Series issued upon transfer, exchange or substitution of such Note
shall bear the Original Issue Date of such transferred, exchanged or
substituted Note, as the case may be.

 

The Company may, at its option, redeem the
Notes in whole or in part at any time prior to the Maturity Date at the price
(the “Redemption Price”) equal to the greater of (i) 100% of the principal
amount of the Notes being redeemed on the date fixed for redemption (the “Redemption
Date”), or (ii) the sum of the present values of the remaining scheduled
payments of principal and interest on the Notes being redeemed on the
Redemption Date (not including any portion of any payments of interest accrued
to the Redemption Date) discounted to the Redemption Date on a semiannual basis
at the Adjusted Treasury Rate (as defined below) plus 50 basis points, as
determined by the Reference Treasury Dealer (as defined below); plus, in each
case, accrued and unpaid interest thereon to the Redemption Date.  The Redemption Price will be calculated on
the basis of a 360-day year consisting of twelve 30-day months.

 

“Adjusted Treasury Rate”
means, with respect to any Redemption Date, the rate per annum equal to the
semiannual equivalent yield to maturity of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue (expressed as a percentage
of its principal amount) equal to the Comparable Treasury Price for such
Redemption Date.

 

2

 

“Comparable Treasury Issue”
means the U.S. Treasury security selected by the Reference Treasury Dealer as
having a maturity comparable to the remaining term of the Notes to be redeemed
that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of such Notes.

 

“Comparable Treasury Price”
means, with respect to any Redemption Date, (A) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding
the highest and lowest of such Reference Treasury Dealer Quotations, or (B) if
the Trustee obtains fewer than four such Reference Treasury Dealer Quotations,
the average of all such quotations, or (C) if only one Reference Treasury
Dealer Quotation is received, such quotation.

 

“Reference Treasury Dealer”
means (A) BNP Paribas Securities Corp., J.P. Morgan Securities Inc. or UBS
Securities LLC or their respective affiliates which are primary U.S. Government
securities dealers in the United States (each, a “Primary Treasury Dealer”),
and their respective successors; provided, however, that if any of the
foregoing shall cease to be a Primary Treasury Dealer, the Company will
substitute therefor another Primary Treasury Dealer; and (B) any other
Primary Treasury Dealer(s) selected by the Company.

 

“Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Trustee, of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third
Business Day preceding such Redemption Date.

 

Notice of any redemption will be mailed at
least 30 days, but not more than 60 days, before the Redemption Date to each
registered Holder of Notes of this Series to be redeemed at its registered
address as more fully provided in the Indenture.  Any notice of redemption may state that such
redemption will be conditional upon receipt by the Trustee, on or prior to the
Redemption Date, of money sufficient to pay the principal of and premium, if
any, and interest on, such Notes and that if such money has not been so
received, such notice will be of no force and effect and the Company will not
be required to redeem the Notes.

 

If less than all the Notes are to be
redeemed, the Notes to be redeemed will be selected by the Trustee in such
manner as it shall deem appropriate.

 

The Notes do not have the benefit of any
sinking fund obligation.

 

The Company, at its option, and subject to
the terms and conditions provided in the Indenture, will be discharged from any
and all obligations in respect of the Notes (except for certain obligations including
obligations to register the transfer or exchange of Notes, replace stolen, lost
or mutilated Notes, maintain paying agencies and hold monies for payment in
trust, all as set forth in the Indenture) if the Company deposits with the
Trustee money, U.S. Government Obligations, which through the payment of
interest thereon and principal thereof in accordance with their terms will
provide money, or a combination of money and U.S. Government Obligations,
in any event in an amount sufficient, without reinvestment, to pay all the
principal of and any premium and interest on the Notes on the dates such
payments are due in accordance with the terms of the Notes.

 

3

 

If an Event of Default shall
occur and be continuing with respect to the Notes, the principal of and
interest on the Notes may be declared due and payable in the manner and with
the effect provided in the Indenture.

 

The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the
modifications of the rights and obligations of the Company and the rights of
the Noteholders under the Indenture at any time by the Company and the Trustee
with the consent of the Holders of a majority in aggregate principal amount of
the Outstanding Notes, considered as one class, provided that if a proposed amendment directly affects
the rights of the Holders of Notes of one or more, but less than all, of series
of Outstanding Notes, then with the consent only of the Holders of a majority
in aggregate principal amount of the Outstanding Notes of all series so
directly affected, considered as one class.  Any such consent or waiver by the Holder of
this Note shall be conclusive and binding upon such Holder and upon all future
Holders of this Note and of any Note issued upon the registration of transfer
hereof or in exchange therefor or in lieu thereof whether or not notation of
such consent or waiver is made upon this Note.

 

As set forth in and subject
to the provisions of the Indenture, no Holder of any Notes issued under the
Indenture will have any right to institute any proceeding with respect to the
Indenture or for any remedy thereunder unless such Holder shall have previously
given to the Trustee written notice of a continuing Event of Default with
respect to such Notes, the Holders of a majority in aggregate principal amount
of the Outstanding Notes of all series under the Indenture in respect of which
an Event of Default has occurred and is continuing, considered as one class,
shall have made written request and offered reasonable indemnity to the Trustee
to institute such proceeding as Trustee and the Trustee shall have failed to
institute such proceeding within 60 days; provided, however, that such
limitations do not apply to a suit instituted by the Holder hereof for the
enforcement of payment of the principal of and any premium or interest on this
Note on or after the respective due dates expressed herein.

 

No reference herein to the
Indenture and to provisions of this Note or of the Indenture shall alter or
impair the obligation of the Company, which is absolute and unconditional, to
pay the principal of and any premium and interest on this Note at the times,
places and rates and the coin or currency prescribed in the Indenture.

 

As provided in the Indenture
and subject to certain limitations therein set forth, this Note may be
transferred only as permitted by the legend hereto and the provisions of the
Indenture.

 

The Indenture and the Notes shall be governed by and
deemed to be a contract under, and construed in accordance with, the laws of
the State of New York, and for all purposes shall be construed in accordance
with the laws of said State without regard to conflicts of law principles
thereof.

 

Unless the certificate of
authentication hereon has been executed by the Trustee, directly or through an
Authenticating Agent by manual signature of an authorized officer, this Note
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

 

All terms used in this Note
that are defined in the Indenture shall have the meanings assigned to them in
the Indenture unless otherwise indicated herein.

 

4

 

IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed.

 

 

	
   

  	
   

  	
  AMEREN CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Jerre E. Birdsong

  
	
   

  	
   

  	
  Name:

  	
  Jerre E. Birdsong

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attest

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Ronald S. Gieseke

  	
   

  	
   

  
	
  Name:

  	
  Ronald
  S. Gieseke

  	
   

  	
   

  
	
  Title:

  	
  Assistant
  Secretary

  	
   

  	
   

  

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

 

Dated: May 15, 2009

 

This Note is one of the
Notes of the series herein designated, described or provided for in the
within-mentioned Indenture.

 

 

	
   

  	
   

  	
  THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., As Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Mary E. Marler

  
	
   

  	
   

  	
   

  	
  Authorized
  Signatory

  

 

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the
undersigned assigns and transfers this Note to:

 

	
   

  
	
  (Insert assignee’s social security or tax identification number)

  
	
   

  
	
   

  
	
  (Insert address and zip code of assignee)

  
	
   

  
	
  and
  irrevocably appoints

  
	
   

  
	
   

  

 

agent to transfer this Note
on the books of the Note register.  The
agent may substitute another to act for him or her.

 

	
  Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature Guarantee:

  	
   

  

 

(Sign exactly as your name appears on the other side of this Security)

 

SIGNATURE GUARANTEE

 

Signatures must be
guaranteed by an “eligible guarantor institution” meeting the requirements of
the Registrar, which requirements include membership or participation in the
Security Transfer Agent Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended.

 

6

 

SCHEDULE I

 

GLOBAL NOTE

 

The initial principal
amount of the Notes evidenced by this Global Note is $425,000,000;

CHANGES TO PRINCIPAL
AMOUNT OF NOTES EVIDENCED BY GLOBAL NOTE

 

	
  Date

  	
   

  	
  Principal Amount of

  Notes by which this

  Global Note is to be

  Reduced or Increased,

  and Reason for

  Reduction or Increase

  	
   

  	
  Remaining Principal

  Amount of Notes

  Represented by this

  Global Note

  	
   

  	
  Notation Made byExhibit 10.1

 

FIRST
AMENDMENT TO 

AMENDED
AND RESTATED CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (herein called
the “Amendment”) dated as of May 12, 2009, is among WARREN RESOURCES, INC., a Maryland corporation (“Borrower”),
GE BUSINESS FINANCIAL SERVICES INC., FKA Merrill
Lynch Business Financial Services Inc., as administrative agent (in
such capacity, “Administrative Agent” and individually as a “Lender”),
and the financial institutions or other entities from time to time party to the
Credit Agreement referred to below (collectively, “Lenders”).

 

W I T N E S S E T H:

 

WHEREAS, Borrower, Administrative Agent and Lenders entered into that
certain Amended and Restated Credit Agreement dated as of November 19,
2007 (as from time to time supplemented, amended, or restated, the “Original
Agreement”), pursuant to which Lenders have made certain extensions of
credit available to Borrower; and for the purpose and consideration therein
expressed, whereby Lenders became obligated to make loans to Borrower as
therein provided; and

 

WHEREAS, Borrower, Administrative Agent and Lenders desire to amend the
Original Agreement as set forth herein;

 

NOW, THEREFORE, in consideration of the premises and the mutual
covenants and agreements contained herein and in the Original 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

 

Section 1.1.    Terms
Defined in the Original Agreement. 
Unless the context otherwise requires or unless otherwise expressly
defined herein, the terms defined in the Original Agreement shall have the same
meanings whenever used in this Amendment.

 

Section 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 Credit Agreement.

 

“Amendment Documents” means this
Amendment, the Consent and Agreement of the Guarantors relating to this
Amendment and all other documents or instruments delivered in connection
herewith or therewith.

 

 

“Credit Agreement” means the Original
Agreement as amended hereby.

 

ARTICLE II

 

AMENDMENTS
AND BORROWING BASE

 

Section 2.1.    Definitions.

 

(a)           The following definitions in Section 1.1 of the
Original Agreement are hereby amended in their entirety to read as follows:

 

“Base Rate” means, for any day, a rate per annum equal to the
highest of the following:

 

(a)     the rate last quoted by The Wall Street
Journal as the “base rate on corporate loans posted by at least 75% of the
nation’s largest banks” in the United States or, if The Wall Street Journal
ceases to quote such rate, the highest per annum interest rate published by the
Federal Reserve Board in Federal Reserve Statistical Release H.15 (519)
(Selected Interest Rates) as the “bank prime loan” rate, or, if such rate is no
longer quoted therein, any similar rate quoted therein (as determined by the
Administrative Agent) or any similar release by the Federal Reserve Board (as
determined by the Administrative Agent);

 

(b)     the sum of (i) the Federal Funds Rate,
plus (ii) 3% per annum;

 

(c)     the sum of (i) the LIBOR that would be
determined as of such day for a LIBOR Loan having an Interest Period of three
months, plus (ii) the excess of the LIBOR Margin for LIBOR Loans over the
Base Rate Margin for Base Rate Loans, in each instance, as of such day.

 

“Overadvance” means, during the Overadvance Period, the
amount by which the Revolving Loan Outstandings exceed the Borrowing Base.

 

“Overadvance Amount” means, for any Borrowing Base Period
within the Overadvance Period, the amount, if any, determined pursuant to Section 2.16(e) and
as such amount may be reduced from time to time pursuant to Section 2.3(d).

 

2

 

“Pricing Table” means the following table:

 

	
   

  	
   

  	
   

  	
   

  	
  Revolving Loans and all other

  Obligations

  	
   

  	
   

  	
   

  
	
  Tier

  Level

  	
   

  	
  Borrowing Base

  Utilization

  	
   

  	
  LIBOR

  Margin

  	
   

  	
  Base Rate

  Margin

  	
   

  	
  Commitment Fee

  	
   

  
	
  1

  	
   

  	
  Greater than or equal to
  90%

  	
   

  	
  3.50

  	
  %

  	
  2.25

  	
  %

  	
  0.500

  	
  %

  
	
  2

  	
   

  	
  Greater than or equal to
  75%, but less than 90%

  	
   

  	
  3.25

  	
  %

  	
  2.00

  	
  %

  	
  0.500

  	
  %

  
	
  3

  	
   

  	
  Greater than or equal to
  50%, but less than 75%

  	
   

  	
  3.00

  	
  %

  	
  1.75

  	
  %

  	
  0.500

  	
  %

  
	
  4

  	
   

  	
  Less than 50%

  	
   

  	
  2.75

  	
  %

  	
  1.50

  	
  %

  	
  0.500

  	
  %

  

 

Notwithstanding the
foregoing and notwithstanding the actual Borrowing Base Utilization on any day,
from and following May 12, 2009 until the later to occur of (i) November 12,
2009 or (ii) the date on which the Permitted Second Lien Debt is retired,
Revolving Loans and other Obligations shall accrue interest at “Tier Level 1”
rates as set forth in the Pricing Table.

 

(b)           The
following definitions are hereby added to Section 1.1 of the Original
Agreement in alphabetical order to read as follows:

 

“Defaulting Lender” means any Lender, as determined by the
Administrative Agent, that has (i) failed to fund any portion of its Loans
or participations in Letters of Credit within three Business Days of the date
required to be funded by it hereunder, (ii) notified the Borrower, the
Administrative Agent, the LC Issuer or any Lender in writing that it does not
intend to comply with any of its funding obligations under this Agreement or
has made a public statement to the effect that it does not intend to comply
with its funding obligations under this Agreement or under other agreements in
which it commits to extend credit, (iii) otherwise failed to pay over to
the Administrative Agent or any other Lender any other amount required to be
paid by it hereunder within three Business Days of the date when due, unless
the subject of a good faith dispute, or (iv) (A) become or is insolvent
or has a parent company that has become or is insolvent or (B) become the
subject of a bankruptcy or insolvency proceeding, or has had a receiver,
conservator, trustee or custodian appointed for it, or has taken any action in
furtherance of, or indicating its consent to, approval of or acquiescence in
any such proceeding or appointment or has a parent company that has become the
subject of a bankruptcy or insolvency proceeding, or has had a receiver,
conservator, trustee or custodian appointed for it, or has taken any action in
furtherance of, or indicating its consent to, approval of or acquiescence in
any such proceeding or appointment.

 

3

 

“Permitted Second Lien Debt” means Debt in respect of notes
(whether issued under a definitive loan agreement or indenture) issued by
Borrower from time to time (including guarantees thereof by its Restricted
Subsidiaries), that complies with all of the following requirements:

 

(a)           such
Debt is issued prior to November 12, 2009;

 

(b)           the
aggregate principal amount of such Debt does not exceed $30,000,000;

 

(c)           no
scheduled payment of principal, scheduled mandatory redemption or scheduled
sinking fund payment of such Debt is due on or before April 19, 2013;
provided that such Debt may be prepaid in connection with a refinancing thereof
with other Debt which is permitted by this Agreement;

 

(d)           payments
of interest on such Debt are not due more frequently than once each calendar
quarter;

 

(e)           the
financial covenants governing such Debt are no more restrictive with respect to
the Restricted Persons than the financial covenants under this Agreement and
all of the covenants and events of default governing such Debt are not, taken
as a whole, materially more restrictive with respect to the Restricted Persons
than the covenants and Events of Default under this Agreement;

 

(f)            on
each date on which such Debt is issued (in this definition, a “Date of
Issuance”) and immediately after giving effect to such Debt, Borrower is in
compliance on a pro forma basis with the financial covenants in Article 6
of this Agreement, calculated for the most recent fiscal quarter or four
consecutive fiscal quarters, as applicable, for which the financial statements
described in Sections 4.1 (a) and (b) are available to Lenders;

 

(g)           no
Default or Event of Default exists on the Date of Issuance or will occur as a
result of the issuance of the notes evidencing such Debt;

 

(h)           if
such Debt is secured by Liens, such Liens are second, junior and subordinate to
the Liens securing the Obligations on the terms referred to in Section 5.2(h);

 

(i)            such
Debt is not guaranteed by any Person who is not a Guarantor of all of the
Obligations and is not secured by any Lien on property which is not subject to
prior Lien securing the Obligations; and

 

(j)            Borrower
shall have delivered to Administrative Agent a certificate in reasonable detail
and satisfactory to the Administrative Agent reflecting compliance with the
foregoing requirements.

 

4

 

Section 2.2.    Letters
of Credit and Letter of Credit Fees. 
Section 2.9 of the Original Agreement is hereby amended by adding a
new subsection (g) at the end thereof to read as follows:

 

“(g)         Defaulting Lenders.  If  any
Letter of Credit Liabilities exist while a Lender is a Defaulting Lender, the
Borrower shall, within one Business Day following notice by the Administrative
Agent, cash collateralize such Defaulting Lender’s Pro Rata Share of the Letter
of Credit Liabilities in accordance with the procedures set forth in Section 2.9(e) for
so long as such Letter of Credit Liabilities are outstanding.”

 

Section 2.3.    Debt.  Section 5.1 of the Original Agreement is
hereby amended by deleting the word “and” at the end of clause (l), deleting the
period at the end of clause (m), substituting “; and” therefor, and adding a
new subsection (n) to read as follows:

 

“(n)         Permitted Second Lien Debt.”

 

Section 2.4.    Liens.  Section 5.2 of the Original Agreement is
hereby amended by deleting the word “and” at the end of clause (f), deleting
the period at the end of clause (g), substituting “; and” therefor, and adding
a new subsection (h) to read as follows:

 

“(h)         Liens securing Permitted Second Lien Debt, which are second,
junior and subordinate to the Liens securing the Obligations on terms
acceptable to each of the Lenders, as set forth in an intercreditor agreement
among the holders of Permitted Second Lien Debt or an agent acting on behalf of
such holders, Administrative Agent and Borrower, in form and substance
acceptable to each of the Lenders.”

 

Section 2.5.    Borrowing
Base.  Section 2.16 of the
Original Agreement is hereby amended by (i) renaming subsections (d), (e),
and (f) thereof as subsections (e), (f), and (g), respectively, and (ii) adding
the following new subsection (d) thereto immediately following subsection (c) thereof
to read as follows:

 

“(d)         Reduction of Borrowing Base Upon
Issuance of Permitted Second Lien Debt. 
Notwithstanding anything to the contrary contained herein, in the event
that Borrower issues Permitted Second Lien Debt, on the date of each issuance
thereof the Borrowing Base then in effect shall be reduced by an amount equal
to thirty-three and one-third percent (33 1/3%) of the stated principal amount of the Permitted Second Lien Debt so
issued.  The Borrowing Base as so reduced
shall become the new Borrowing Base immediately upon such date of issuance and
shall remain in effect until the next date as of which the Borrowing Base is
redetermined pursuant to this Agreement.”

 

Section 2.6.    Borrowing
Base and Overadvance Amount.  On the
Effective Date (as defined herein) of this Amendment, the Borrowing Base shall
be $120,000,000 and the Overadvance Amount shall be zero.  Such Borrowing Base and Overadvance Amount
shall be applicable until the next determination of the Borrowing  Base or the Overadvance Amount.

 

5

 

ARTICLE III

 

CONDITIONS
OF EFFECTIVENESS

 

Section 3.1.    Conditions
to Effectiveness of Amendment. This Amendment shall become effective (the
date such conditions are so satisfied herein called the “Effective Date”)
when and only when Administrative Agent shall have received the following, each
of which shall be originals or telecopies (followed promptly by originals) each
properly executed by each Lender and by a Responsible Officer of the signing
Credit Party, each dated the Effective Date (or, in the case of certificates of
governmental officials, a recent date before the Effective Date) and each in
form and substance satisfactory to Administrative Agent:

 

(a)           counterparts
of this Amendment and the other Amendment Documents executed by the applicable
Credit Parties;

 

(b)           a certificate of the Secretary of each Credit Party
certifying that none of the resolutions, incumbency certificates and/or
organizational documents of any Credit Party as Administrative Agent has
previously required have been amended, modified or terminated since they were
delivered, and certifying resolutions authorizing this Amendment; and

 

(c)           such documents and certifications as Administrative Agent
may reasonably require to evidence that each Credit Party is duly organized or
formed, and that each Credit Party is validly existing, in good standing and
qualified to engage in business in each jurisdiction where its ownership, lease
or operation of properties or the conduct of its business requires such
qualification.

 

ARTICLE IV

 

REPRESENTATIONS
AND WARRANTIES

 

Section 4.1.    Representations
and Warranties.  In order to induce
Administrative Agent to enter into this Amendment, Borrower represents and
warrants to Administrative Agent that the representations and warranties
contained in Article 3 of the Original Agreement or any other Financing
Document are true and correct on the Effective Date (including, for all
purposes, after giving effect to the Amendment Documents), except to the extent
such representations and warranties specifically refer to an earlier date, in
which case they are true and correct as of such earlier date.

 

ARTICLE V

 

MISCELLANEOUS

 

Section 5.1.    Ratification
of Agreements.  The Original
Agreement as hereby amended is hereby ratified and confirmed in all
respects.  The other Financing Documents,
as they may be amended or affected by the Amendment Documents, are hereby
ratified and confirmed in all respects. 
Any reference to the Credit Agreement in any Financing Document shall be
deemed to be a reference to the Original Agreement as hereby amended.  The execution, delivery and 

 

6

 

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 Administrative Agent or Lenders under the Credit
Agreement, or any other Financing Document nor constitute a waiver of any
provision of the Credit Agreement, or any other Financing Document.

 

Section 5.2.    Survival
of Agreements.  All representations,
warranties, covenants and agreements of any Credit Party herein shall survive
the execution and delivery of this Amendment and the performance hereof, 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 Credit Party hereunder or under
the Credit Agreement to Administrative Agent or any Lender shall be deemed to
constitute representations and warranties by, and/or agreements and covenants
of such Credit Party under this Amendment and under the Credit Agreement.

 

Section 5.3.    Financing
Documents.  This Amendment and the
other Amendment Documents are each a Financing Document, and all provisions in
the Credit Agreement pertaining to Financing Documents apply hereto and
thereto.

 

Section 5.4.    Governing
Law.  This Amendment shall be
governed by and construed in accordance with the Laws applicable to the Credit
Agreement.

 

Section 5.5.    Counterparts;
Fax.  This Amendment 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 Amendment. 
This Amendment and the other Amendment Documents may be validly executed
by facsimile or other electronic transmission.

 

THIS
AMENDMENT AND THE OTHER FINANCING DOCUMENTS REPRESENT THE FINAL AGREEMENT
BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS OF THE
PARTIES.

 

7

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first written above.

 

	
   

  	
  WARREN RESOURCES, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Timothy A. Larkin

  
	
   

  	
   

  	
  Name: Timothy A. Larkin

  
	
   

  	
   

  	
  Title: Executive Vice
  President and Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GE BUSINESS FINANCIAL
  SERVICES INC., FKA Merrill Lynch Business Financial Services Inc., as
  Administrative Agent and a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Mathew A. Toth III

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Mathew A. Toth III

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Divisional President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  BANK OF
  SCOTLAND PLC, as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Julia R. Franklin

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Julia R. Franklin

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  CAPITAL
  ONE, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ David R. Reid

  
	
   

  	
   

  	
   

  	
  Name:

  	
  David R. Reid

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  

 

Signature
Page

 

 

	
   

  	
   

  	
  U.S. BANK
  NATIONAL ASSOCIATION, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Monte E. Deckert

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Monte E. Deckert

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  BMO
  CAPITAL MARKETS FINANCING, INC.,
  as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James Whitmore

  
	
   

  	
   

  	
   

  	
  Name:

  	
  James Whitmore

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  COMERICA
  BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Peter L. Sefzik

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Peter L. Sefzik

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  

 

Signature
Page

 

 

Consent
and Agreement to First Amendment to

Amended
and Restated Credit Agreement dated as of May 12, 2009

 

The undersigned each hereby (a) consents to the provisions of this
First Amendment to Amended and Restated Credit Agreement dated as of May 12,
2009, among Warren Resources, Inc., a Maryland corporation, GE Business Financial Services Inc., FKA
Merrill Lynch Business Financial Services Inc., as Administrative Agent,
and the Lenders party thereto and the transactions contemplated herein and
hereby, (b) ratifies and confirms the Amended and Restated Guaranty dated
as of November 19, 2007 made by it in favor of GE Business Financial Services Inc., FKA Merrill Lynch Business Financial
Services Inc., as Administrative Agent, and the other Financing
Documents to which it is a party and (c) agrees that its obligations and
covenants under the Financing Documents are unimpaired hereby and shall remain
in full force and effect.

 

	
   

  	
  WARREN
  RESOURCES OF CALIFORNIA, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Timothy A. Larkin

  
	
   

  	
   

  	
  Name: Timothy A. Larkin

  
	
   

  	
   

  	
  Title: Vice President and
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WARREN
  E&P, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Norman F. Swanton

  
	
   

  	
   

  	
  Name: Norman F. Swanton

  
	
   

  	
   

  	
  Title: Chairman &
  Chief Executive Officer

  

 

Consent and Agreement

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