Document:

exv10w2

 

Exhibit 10.2

FIRST AMENDMENT TO

LOAN DOCUMENTS

Dated as of May 8, 2008

Among

EXLP OPERATING LLC,

as Borrower,

EXTERRAN PARTNERS, L.P.,

as Guarantor,

EXLP LEASING LLC,

as Guarantor,

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Administrative Agent,

AND

THE LENDERS PARTY HERETO

Arranged by:

WACHOVIA CAPITAL MARKETS, LLC

as Sole Lead Arranger and Sole Book Runner

 

 

     THIS FIRST AMENDMENT TO LOAN DOCUMENTS (this “First Amendment”), dated as of May 8,
2008, is among: EXLP OPERATING LLC, a Delaware limited liability company (formerly known as UC
Operating Partnership, L.P., the “Borrower”), EXTERRAN PARTNERS, L.P., a Delaware limited
partnership (formerly known as Universal Compression Partners, L.P., “EXLP”), EXLP Leasing
LLC, a Delaware limited liability company (formerly known as UCLP Leasing, L.P., “EXLP
Leasing” and collectively with EXLP, the “Guarantors”), WACHOVIA BANK, NATIONAL
ASSOCIATION, individually and as administrative agent for the Lenders (herein, together with its
successors in such capacity, the “Administrative Agent”); WACHOVIA CAPITAL MARKETS, LLC
(“Wachovia Securities” and its successors in such capacity, the “Sole Lead
Arranger” and “Sole Book Runner”); and each of the lenders party to the Credit
Agreement (as defined below) (the “Lenders”) pursuant to the authorization (in the form
attached hereto as Appendix I, the “Authorization”) and amends the Credit
Agreement, the Collateral Agreement (as defined below) and the Guaranty Agreement (as defined
below).

R E C I T A L S

     A. On October 20, 2006, the Borrower, EXLP, the Administrative Agent and the Lenders entered
into that certain Senior Secured Credit Agreement (as amended, modified, supplemented or restated
from time to time, the “Credit Agreement”).

     B. On October 20, 2006, the Borrower, UCLP OLP GP LLC, EXLP, EXLP Leasing and the
Administrative Agent on behalf of the Lenders entered into that certain Collateral Agreement (as
amended, modified, supplemented or restated from time to time, the “Collateral Agreement”).

     C. On October 20, 2006, EXLP, UCLP OLP GP LLC, EXLP Leasing and the Administrative Agent on
behalf of the Lenders entered into that certain Guaranty Agreement (as amended, modified,
supplemented or restated from time to time, the “Guaranty Agreement”).

     D. On June 22, 2007, the Borrower, the Administrative Agent and the Lenders party thereto
executed a commitment increase certificate (the “Commitment Increase Certificate”) that, on
July 9, 2007, increased the Aggregate Revolving Commitments under the Credit Agreement from
$225,000,000 to $315,000,000.

     E. On June 29, 2007, (i) Universal Compression Partners, L.P. formed UCLP Operating LLC, a
Delaware limited liability company, and merged UC Operating Partnership, L.P. into UCLP Operating
LLC with UCLP Operating LLC being the surviving entity, (ii) UCLP Leasing, L.P. converted into UCLP
Leasing LLC and (iii) UCLP OLP GP LLC and UCLP Leasing GP LLC dissolved and liquidated.

     F. On August 20, 2007, (i) UCLP Operating LLC changed its name to EXLP Operating LLC, (ii)
Universal Compression Partners, L.P. changed its name to Exterran Partners, L.P. and (iii) UCLP
Leasing LLC changed its name to EXLP Leasing LLC.

     G. The Borrower and the Guarantors have requested that the Administrative Agent and the
Majority Lenders amend certain provisions of the Loan Documents to, among other

 

 

things, reflect the new names of the Borrower and the Guarantors and to provide for an
exercise of the accordion in an amount of up to $117,500,000 in Aggregate Term Commitments.

     H. The Borrower has requested that Deutsche Bank Trust Company Americas be removed as the Syndication
Agent and be replaced by JPMorgan Chase Bank, N.A.

     I. Subject to satisfaction of the conditions set forth herein, the Administrative Agent and
the Majority Lenders are willing to amend the Loan Documents and to such other actions as provided
herein.

     NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and
of the loans, extensions of credit and commitments hereinafter referred to, the parties hereto
agree as follows:

ARTICLE 1

Definitions

     As used in this First Amendment, each term defined above has the meaning indicated above.
Each capitalized term which is defined in the Credit Agreement, but which is not defined in this
First Amendment, shall have the meaning ascribed such term in the Credit Agreement. Unless
otherwise indicated, all section references in this First Amendment refer to sections of the Credit
Agreement.

ARTICLE 2

Amendments to the Credit Agreement

     Section 2.1 Global Amendments. The Credit Agreement, together with its Exhibits and
Schedules are hereby amended by globally replacing the terms “UC Operating Partnership, L.P.,”
“UCI,” “UCLP,” “UCLP Group” and “UCLP Partnership Agreement” with “EXLP Operating LLC,”
“Exterran,” “EXLP,” “EXLP Group” and
“EXLP Partnership Agreement,” respectively; furthermore, JPMorgan Chase Bank, N.A. shall replace Deutsche Bank Trust Company Americas as the
Syndication Agent.

     Section 2.2 Amendments to Section 1.02 of the Credit Agreement.

     (a) Section 1.02 of the Credit Agreement is hereby amended by adding the following new
definitions in their proper alphabetical order:

     “Commitment Increase Certificate” means that certain commitment increase
certificate, dated June 22, 2007 among the Borrower, the Administrative Agent and the
Lenders party thereto that, on July 9, 2007, increased the Aggregate Revolving Commitments
from $225,000,000 to $315,000,000.

     “EESLP” means Exterran Energy Solutions, L.P., a Delaware limited partnership.

     “Exterran” means Exterran, Inc., a Texas corporation.

     “EXLP” means Exterran Partners, L.P., a Delaware limited partnership.

     “EXLP Group” means EXLP and its Restricted Subsidiaries.

     “EXLP Partnership Agreement” means that certain First Amended and Restated
Agreement of Limited Partnership of EXLP dated as of October 20, 2006, as amended by

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that certain Amendment No. 1 to the First Amended and Restated Agreement dated as of
April 14, 2008, as amended, modified, supplemented or restated from time to time.

     “First Amendment” means that certain First Amendment to Loan Documents, dated
as of May 8, 2008, among the Borrower, EXLP, EXLP Leasing, the Administrative Agent and the
other Lenders party thereto.

     “First Amendment Effective Date” means May 8, 2008.

     (b) The definition of “Agreement” in Section 1.02 of the Credit Agreement is hereby amended by
deleting it in its entirety and inserting the following in lieu thereof:

     “Agreement” means this Credit Agreement, as amended by the First Amendment, as
the same may from time to time be amended, modified, supplemented or restated.

     (c) The last sentence of the definition of “Aggregate Term Commitments” in Section 1.02 of the
Credit Agreement is hereby amended by deleting it in its entirety and inserting the following in
lieu thereof:

     “As of the First Amendment Effective Date, the Aggregate Term Commitments are
$117,500,000.”

     (d) The definition of “General Partner” in Section 1.02 of the Credit Agreement is hereby
amended by deleting it in its entirety and inserting the following in lieu thereof:

     “General Partner” means Exterran General Partner, L.P., a Delaware limited
partnership and the general partner of EXLP.

     (e) The definition of “Guarantors” in Section 1.02 of the Credit Agreement is hereby amended
by deleting it in its entirety and inserting the following in lieu thereof:

     “Guarantors” means EXLP and each Significant Domestic Subsidiary that
guarantees the Indebtedness pursuant to Section 8.07.

     (f) The definition of “Holdings” in Section 1.02 of the Credit Agreement is hereby amended by
deleting it in its entirety and inserting the following in lieu thereof:

     “Holdings” means Exterran Holdings, Inc., a Delaware corporation.

     (g) The definition of “Loan Documents” in Section 1.02 of the Credit Agreement is hereby
amended by deleting it in its entirety and inserting the following in lieu thereof:

     “Loan Documents” means this Agreement, the Commitment Increase
Certificate, the Term Loan Assumption Agreements, the Notes, the Letter of Credit
Agreements, the Letters of Credit and the Security Instruments.

     (h) The definition of “Total Interest Expense” in Section 1.02 of the Credit Agreement is
hereby amended by adding the following as the last sentence of such definition:

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     “Total Interest Expense will be adjusted on a pro forma basis (determined by the
Borrower and supported by information in reasonable detail and approved by the
Administrative Agent) for interest expense of financings, the proceeds of which are to be
used for acquisitions and divestitures with purchase prices in excess of $25,000,000 (to the
extent not otherwise reflected in the calculation of Total Interest Expense).”

     (i) The definitions of “GP,” “UCI,” “UCLP,” “UCLP Group” and “UCLP Partnership Agreement” in
Section 1.02 of the Credit Agreement are hereby deleted in their entirety.

     Section 2.3 Amendments to Section 2.06 of the Credit Agreement. Section
2.06(c)(ii)(A) of the Credit Agreement is hereby amended by deleting it in its entirety and
inserting the following in lieu thereof:

     “(A) such increase shall not be less than $25,000,000 and shall be in a whole
multiple of $5,000,000 in excess thereof unless the Administrative Agent otherwise
consents, and no such increase shall be permitted if, after giving effect thereto,
the cumulative increases of the Aggregate Commitments pursuant to this Section
2.06(c) would exceed $225,000,000; provided however, that upon the
First Amendment Effective Date, the amount available for increases of the Aggregate
Revolving Commitments and/or the Aggregate Term Commitments under this Section
2.06 shall be $17,500,000; provided further, the repayment of
any Term Loan principal that was committed pursuant to the First Amendment, an
amount equal to the principal amount repaid of such Term Loans shall be immediately
available for increases of the Aggregate Revolving Commitments and/or the Aggregate
Term Commitments;”

     Section 2.4 Amendments to Section 3.04 of the Credit Agreement. Section 3.04(c) of
the Credit Agreement is hereby amended by adding the following new clause (ii) and renumbering
clauses (ii) and (iii) to (iii) and (iv), respectively:

     “(ii) Within 30 days of each date on or after the First Amendment Effective Date until
such Term Loans are repaid in full, upon which EXLP, the Borrower or any Restricted
Subsidiary receives any cash proceeds from any sale or distribution of Equity Interests, an
amount equal to 100% of the net cash proceeds therefrom shall be applied on such date as a
mandatory repayment accordance with Section 3.04(c)(iii).”

     Section 2.5 Amendments to Section 7.07 of the Credit Agreement. Section 7.07(b) of
the Credit Agreement is hereby amended by deleting it in its entirety and inserting the following
in lieu thereof:

     “(b) Term Loans. The Borrower will use the proceeds of the Term Loans as
required in the Term Loan Assumption Agreements.”

     Section 2.6 Amendments to Section 8.07 of the Credit Agreement. The second sentence
of Section 8.07(a) of the Credit Agreement is hereby amended by deleting it in its entirety and
inserting the following in lieu thereof:

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     “EXLP shall, and it shall promptly cause each Significant Domestic Subsidiary now
existing or hereafter formed or acquired to, guarantee the Indebtedness pursuant to the
execution and delivery of the Guaranty Agreement or a supplement thereto.”

     Section 2.7 Amendments to Section 9.01 of the Credit Agreement. Section 9.01(h) of
the Credit Agreement is hereby amended by deleting it in its entirety and inserting the following
in lieu thereof:

     “(h) Debt with respect to surety bonds, appeal bonds or customs bonds required in the
ordinary course of business or in connection with the enforcement of rights or claims of
EXLP, Exterran, EESLP or any of its Restricted Subsidiaries or in connection with judgments
that do not result in a Default or an Event of Default, provided that the aggregate
outstanding amount of all cash surety bonds, appeal bonds and custom bonds permitted by this
clause (h) shall not at any time exceed an amount equal to five percent (5%) of the
Aggregate Commitments;”

     Section 2.8 Amendments to Section 9.11 of the Credit Agreement. Section 9.11(d) of
the Credit Agreement is hereby amended by deleting it in its entirety and inserting the following
in lieu thereof:

     “(d) may sell, lease, assign, exchange, convey or otherwise transfer Compression Assets
to Exterran or EESLP or any of Exterran’s or EESLP’s Subsidiaries pursuant to the Omnibus
Agreement; and”

ARTICLE 3

Amendments to the Collateral Agreement

     Section 3.1 Global Amendments. The Collateral Agreement, together with its Exhibits
and Schedules are hereby amended by globally replacing the terms “UC Operating Partnership, L.P.,”
“Universal Compression Partners, L.P.,” “UCLP,” “UCLP Leasing, L.P.” and “UCOP” with “EXLP
Operating LLC,” “Exterran Partners, L.P.,” “EXLP,” “EXLP Leasing LLC” and “Borrower,”
respectively; furthermore, JPMorgan Chase Bank, N.A. shall replace Deutsche Bank Trust Company Americas as the
Syndication Agent.

     Section 3.2 Amendments to Section 1.01 of the Collateral Agreement.

     (a) Section 1.01 of the Collateral Agreement is hereby amended by adding the following new
definitions in their proper alphabetical order:

     “First Amendment” means that certain First Amendment to Loan Documents, among
the Borrower, EXLP, EXLP Leasing, the Administrative Agent and the other Lenders party
thereto.

     (b) The definition of “Agreement” in Section 1.01 of the Collateral Agreement is hereby
amended by deleting it in its entirety and inserting the following in lieu thereof:

     “Agreement” means this Collateral Agreement, as amended by the First Amendment,
as the same may from time to time be amended, modified, supplemented or restated.

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     (c) The definition of “GP,” “UCLP” and “UCOP” in Section 1.01 of the Collateral Agreement are
hereby deleted in their entirety.

ARTICLE 4

Amendments to the Guaranty Agreement

     Section 4.1 Global Amendments. The Guaranty Agreement, together with its Exhibits
and Schedules are hereby amended by globally replacing the terms “UC Operating Partnership, L.P.,”
“Universal Compression Partners, L.P.,” “UCLP,” “UCLP Leasing” and “UCLP Leasing, L.P.” with “EXLP
Operating LLC,” “Exterran Partners, L.P.,” “EXLP,” “EXLP Leasing” and “EXLP Leasing LLC,”
respectively.

     Section 4.2 Amendments to Section 1.01 of the Guaranty Agreement.

     (a) Section 1.01 of the Guaranty Agreement is hereby amended by adding the following new
definition in its proper alphabetical order:

     “First Amendment” means that certain First Amendment to Loan Documents, among
the Borrower, EXLP, EXLP Leasing, the Administrative Agent and the other Lenders party
thereto.

     (b) The definition of “Agreement” in Section 1.01 of the Guaranty Agreement is hereby amended
by deleting it in its entirety and inserting the following in lieu thereof:

     “Agreement” means this Guaranty Agreement, as amended by the First Amendment,
as the same may from time to time be amended, modified, supplemented or restated.

ARTICLE 5

Conditions Precedent

     Section 5.1 Conditions Precedent. This First Amendment shall be subject to the
satisfaction of the following conditions precedent or concurrent, and after giving effect to this
First Amendment:

     (a) the Administrative Agent shall have received counterparts hereof duly executed by the
Borrower, the Guarantors, the Majority Lenders and the Term Loan Lenders;

     (b) the Administrative Agent shall have received duly executed counterparts of the Term Loan
Assumption Agreements by the Borrower and each Term Loan Lender substantially in the form of
Exhibit A attached hereto;

     (c) all costs, fees, expenses (including, without limitation, reasonable legal fees and
expenses and recording taxes and fees) and other compensation contemplated by this First Amendment
and the other Loan Documents, and for which statements or invoices have been submitted to the
Borrower shall have been paid;

     (d) Term Notes duly completed and executed for each Term Loan Lender that has requested a Term
Note shall have been delivered;

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     (e) a certificate of the Secretary or an Assistant Secretary (or its equivalent) of each of
the Borrower and each Subsidiary party to a Loan Document shall have been delivered to the
Administrative Agent setting forth (i) resolutions of its board of directors (or its equivalent)
with respect to the authorization of such party to execute and deliver the First Amendment and the
other Loan Documents to which it is a party and to enter into the transactions contemplated in
those documents, (ii) the officers (or its equivalent) of such party (A) who are authorized to sign
this First Amendment and the Loan Documents to which such party is a party and (B) who will, until
replaced by another officer or officers (or its equivalent) duly authorized for that purpose, act
as its representative for the purposes of signing documents and giving notices and other
communications in connection with this First Amendment and the transactions contemplated hereby,
(iii) specimen signatures of the authorized officers (or its equivalent), and (iv) the Organization
Documents, certified as being true and complete;

     (f) certificates of the appropriate state agencies with respect to the existence,
qualification and good standing of the Borrower and each Subsidiary party to a Loan Document shall
have been delivered to the Administrative Agent, in form and substance satisfactory to the
Administrative Agent;

     (g) the most recent compliance certificate shall have been updated for the pro form effect
of the increased commitments and related transaction and delivered to the Administrative
Agent, in form and substance satisfactory to the Administrative Agent, duly and properly
executed by a Responsible Officer of the Borrower and dated as of the date hereof;

     (h) an opinion of Baker Botts, LLP, counsel to the Borrower and the Subsidiaries party to a
Loan Document, shall have been delivered to the Administrative Agent in form and substance
satisfactory to the Administrative Agent, as to such matters incident to the transactions herein
contemplated and as the Administrative Agent may reasonably request;

     (i) the representations and warranties contained herein shall be true and correct in all
material respects as of the date hereof;

     (j) no Default shall have occurred and be continuing; and

     (k) no Material Adverse Effect shall have occurred and be continuing.

ARTICLE 6

Miscellaneous

     Section 6.1 Loan Documents in Full Force and Effect as Amended. Except as
specifically amended hereby, the Credit Agreement and other Loan Documents shall remain in full
force and effect and are hereby ratified and confirmed as so amended. The Borrower and each
Guarantor hereby expressly acknowledges, renews and extends its continued liability under Credit
Agreement and the other the Loan Documents. Except as expressly set forth herein, this First
Amendment shall not be deemed to be a waiver, amendment or modification of any provisions of the
Credit Agreement or any other Loan Document or any right, power or remedy of the Administrative
Agent or Lenders, or constitute a waiver of any provision of the Credit Agreement or any other
Loan Document, or any other document, instrument and/or

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agreement executed or delivered in connection therewith or of any Default or Event of Default
under any of the foregoing, in each case whether arising before or after the date hereof or as a
result of performance hereunder or thereunder. This First Amendment also shall not preclude the
future exercise of any right, remedy, power, or privilege available to the Administrative Agent
and/or Lenders whether under the Credit Agreement, the other Loan Documents, at law or otherwise.
All references to each Loan Document shall be deemed to mean such Loan Document as modified
hereby. This First Amendment shall not constitute a novation or satisfaction and accord of the
Credit Agreement and/or other Loan Documents, but shall constitute an amendment thereof. The
parties hereto agree to be bound by the terms and conditions of the Credit Agreement and Loan
Documents as amended by this First Amendment, as though such terms and conditions were set forth
herein. Each reference in the Loan Documents to “this Agreement,” “hereunder,” “hereof,” “herein”
or words of similar import shall mean and be a reference to such Loan Document as amended by this
First Amendment, and each reference herein or in any other Loan Documents to the “Credit
Agreement” shall mean and be a reference to the Credit Agreement as amended and modified by this
First Amendment.

     Section 6.2 Representations. The Borrower and each Guarantor hereby represents and
warrants with respect to itself, as applicable, to the Administrative Agent and each Lender that:

     (a) each of the representations and warranties made by it under the Credit Agreement and each
other Loan Document is true and correct in all material respects on and as of the date hereof, as
if made on and as of such date, except for any representations and warranties made as of a
specified date, which are true and correct in all material respects as of such specified date;

     (b) the execution, delivery and performance by it of this First Amendment have been duly
authorized by all necessary action on its part;

     (c) this First Amendment constitutes the legal, valid and binding obligation of it,
enforceable against it in accordance with its terms;

     (d) the execution, delivery and performance by it of this First Amendment (i) do not require
any consent or approval of, registration or filing with, or any other action by, any Governmental
Authority or any other third Person (including shareholders or any class of directors, whether
interested or disinterested, of it or any other Person), nor is any such consent, approval,
registration, filing or other action necessary for the validity or enforceability of this First
Amendment or any Loan Document or the consummation of the transactions contemplated thereby, except
such as have been obtained or made and are in full force and effect other than (A) the recording
and filing of the Security Instruments as required by this First Amendment and (B) those third
party approvals or consents which, if not made or obtained, would not cause a Default hereunder,
could not reasonably be expected to have a Material Adverse Effect or do not have an adverse effect
on the enforceability of the Loan Documents, (ii) will not violate any applicable law or regulation
or the charter, by-laws or the organizational documents of it or any Subsidiary or any order of any
Governmental Authority, (iii) will not violate or result in a default under any indenture,
agreement or other instrument binding upon it or any Subsidiary or its Properties, or give rise to
a right thereunder to require any payment to be made by it or such Subsidiary and (iv) will not
result in the creation or imposition of any Lien on any Property of it or any Property (other than
the Liens created by this First Amendment or the Loan Documents).

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     Section 6.3 Counterparts. This First Amendment may be executed in any number of
counterparts, all of which taken together shall constitute one and the same instrument and any of
the parties hereto may execute this First Amendment by signing any such counterpart.

     Section 6.4 Successor and Assigns. The execution and delivery of this First
Amendment by any Lender shall be binding upon each of its successors and assigns.

     Section 6.5 Headings. The descriptive headings of the sections of this First
Amendment are inserted for convenience only and shall not be deemed to affect the meaning or
construction of any of the provisions hereof. The statements made and the terms defined in the
recitals to this First Amendment are hereby incorporated into this First Amendment in their
entirety.

     Section 6.6 Payment of Expenses. The Borrower agrees to pay or reimburse the
Administrative Agent for all of its reasonable out-of-pocket costs and expenses incurred in
connection with this First Amendment, the Loan Documents, the Term Loan Assumption Agreements and
any other documents prepared in connection herewith and the transactions contemplated hereby. The
agreement set forth in this Section 6.6 shall survive the termination of this First
Amendment and the Credit Agreement.

     Section 6.7 No Oral Agreements. This First Amendment and the other Loan Documents
embody the entire agreement and understanding between the parties and supersede all other
agreements and understandings between such parties relating to the subject matter hereof and
thereof. This First Amendment and the other Loan Documents represent the final agreement between
the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral
agreements of the parties. There are no unwritten oral agreements between the parties.

     Section 6.8 Governing Law. This First Amendment shall be governed by, and construed
in accordance with, the laws of the State of Texas.

[Signatures begin on the following page]

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     The parties hereto have caused this First Amendment to be duly executed as of the day and year
first above written.

	 	 	 	 	 
	BORROWER:       	EXLP OPERATING LLC

 	 
	 	By:  	EXTERRAN PARTNERS, L.P.,
 	 
	 	 	its sole Member 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                         EXTERRAN GENERAL PARTNER, L.P.
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                         EXTERRAN GP LLC
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	J. Michael Anderson 	 
	 	 	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	GUARANTORS:       	EXTERRAN PARTNERS, L.P.

 	 
	 	By:  	EXTERRAN GENERAL PARTNER, L.P.,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                        EXTERRAN GP LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	EXLP LEASING LLC

 	 
	 	By:  	EXLP OPERATING LLC,
 	 
	 	 	its sole member 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                               EXTERRAN PARTNERS, L.P.,
 	 
	 	 	its sole member 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                               EXTERRAN GENERAL PARTNER, L.P.,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                               EXTERRAN GP LLC,
 	 
	 	 	its General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	ADMINISTRATIVE AGENT AND LENDERS: 	WACHOVIA BANK, NATIONAL

ASSOCIATION, in its capacity as Administrative Agent and in its capacity as a Lender,

on behalf of itself and the other Lenders pursuant to the Authorization

 	 
	 	By:  	 	 
	 	 	Todd Schanzlin 	 
	 	 	Director 	 
	 

 

 

EXHIBIT A

FORM OF TERM LOAN ASSUMPTION AGREEMENT

May 8, 2008

EXLP Operating LLC

4444 Brittmoore Road

Houston, Texas 77041

Attention: Daniel Schlanger

Facsimile: 713.466.6720

Re: Term Loan Assumption Agreement

Ladies and Gentlemen:

     Reference is hereby made to the Senior Secured Credit Agreement (as amended, supplemented,
modified or restated from time to time, the “Credit Agreement”) dated as of October 20,
2006 among EXLP Operating LLC (the “Borrower”), Exterran Partners, L.P. (a
“Guarantor”), Wachovia Bank, National Association (the “Administrative Agent”) and
the lenders signatory thereto (the “Lenders”). Unless otherwise defined herein,
capitalized terms used herein shall have the respective meanings set forth in the Credit Agreement.

     Each Lender (each, a “Term Loan Lender”) party to this letter agreement (this
“Agreement”) hereby severally agrees to provide the Term Commitments set forth opposite its
name on Annex I attached hereto (for each such Term Loan Lender, its “Term
Commitment”). Each Term Commitment provided pursuant to this Agreement shall be subject to all
of the terms and conditions set forth in the Credit Agreement, including, without limitation,
Article II thereof.

     Each Term Loan Lender, the Borrower and the Administrative Agent acknowledge and agree that
the Term Commitments provided pursuant to this Agreement shall constitute Term Commitments, and,
upon the incurrence of Term Loans pursuant to such Term Commitments, shall constitute Term Loans
for all purposes of the Credit Agreement and the other applicable Loan Documents.

     Furthermore, each of the parties to this Agreement hereby agree to the terms and conditions
set forth on Annex I hereto in respect of each Term Commitment provided pursuant to this
Agreement.

     Each Term Loan Lender party to this Agreement, to the extent not already a party to the Credit
Agreement as a Lender thereunder, (i) confirms that it has received a copy of the Credit Agreement
and the other Loan Documents, together with copies of the financial statements referred to therein
and such other documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Agreement and to become a Lender under the Credit
Agreement, (ii) agrees that it will, independently and without reliance upon the Administrative
Agent or any other Lender and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under the
Credit Agreement and the other Loan Documents, (iii) appoints and authorizes the Administrative
Agent to take such action as agent on its behalf and to exercise such powers under the Credit
Agreement and the other Loan Documents as are

 

 

delegated to the Administrative Agent by the terms thereof, together with such powers as are
reasonably incidental thereto and (iv) agrees that it will perform in accordance with their terms
all of the obligations which by the terms of the Credit Agreement and the other Loan Documents are
required to be performed by it as a Lender.

     Upon the date of (i) the execution and delivery to the Administrative Agent of a counterpart
of this Agreement by each Term Loan Lender, the Administrative Agent, the Borrower and each
Guarantor, (ii) the execution and delivery to the Administrative Agent of a counterpart of the
First Amendment by the Majority Lenders, each Term Loan Lender, the Administrative Agent, the
Borrower and each Guarantor and (iii) the satisfaction (or waiver in accordance with Section 12.02
of the Credit Agreement) of the conditions precedent set forth in Section 6.03 of the Credit
Agreement with (such date, the “Commitment Effective Date”), each Term Loan Lender party
hereto (A) shall be obligated to make the Term Loans provided to be made by it as provided in this
Agreement on the terms, and subject to the conditions, set forth in the Credit Agreement and in
this Agreement and (B) to the extent provided in this Agreement, shall have the rights and
obligations of a Lender thereunder and under the other applicable Loan Documents.

     The Borrower acknowledges and agrees that (i) it shall be liable for all obligations, for
which the Borrower is liable under the Credit Agreement, with respect to the Term Commitments
provided hereby including, without limitation, all Term Loans made pursuant thereto and (ii) all
such obligations (including all such Term Loans) shall be entitled to the benefits of the Security
Instruments.

     Each Guarantor acknowledges and agrees that all obligations, for which such Guarantor is
liable under the Credit Agreement or the Guaranty Agreement, with respect to the Term Commitments
provided hereby and all Term Loans made pursuant thereto shall (i) be fully guaranteed pursuant to
the Guaranty Agreement as, and to the extent, provided therein and in the Credit Agreement and (ii)
be entitled to the benefits of the Loan Documents as, and to the extent, provided therein and in
the Credit Agreement.

     The Borrower and each Guarantor hereby certify that each of the representations and warranties
made by such Borrower or Guarantor in the First Amendment are true and correct in all material
respects and shall be deemed to be repeated as if made on the Commitment Effective Date.

     You may accept this Agreement by signing the enclosed copies in the space provided below, and
returning one copy of same to us before the close of business on May 8, 2008. If you do not so
accept this Agreement by such time, our Term Commitments set forth in this Agreement shall be
deemed canceled.

     After the execution and delivery to the Administrative Agent of a fully executed copy of this
Agreement (including by way of counterparts and by facsimile or other electronic transmission) by
the parties hereto, this Agreement may only be changed, modified or varied by written instrument in
accordance with the requirements for the modification of Loan Documents pursuant to Section 12.02
of the Credit Agreement.

     In the event of any conflict between the provisions of this Agreement and those of the Credit
Agreement, the provisions of the Credit Agreement shall control.

 

 

     THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF TEXAS, WITHOUT GIVING EFFECT TO PRINCIPLES
THEREOF RELATING TO CONFLICTS OF LAW.

[Signatures begin on the following page]

 

 

	 	 	 	 	 
	Very truly yours,

[NAME OF EACH TERM LOAN LENDER]

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

 

 

Agreed and Accepted

this 8th day of May, 2008:

	 	 	 	 	 
	EXLP OPERATING LLC

 	 	 
	By:  	EXTERRAN PARTNERS, L.P.,
 	 	 
	 	its sole Member 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	                    EXTERRAN GENERAL PARTNER, L.P.
 	 	 
	 	its General Partner 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	                    EXTERRAN GP LLC
 	 	 
	 	its General Partner 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	
 	 	 
	 	J. Michael Anderson 	 	 
	 	Senior Vice President 	 	 
	 

 

 

Agreed and Accepted

this 8th day of May, 2008:

	 	 	 	 	 
	WACHOVIA BANK, NATIONAL ASSOCIATION,

     as Administrative Agent

 	 	 
	By:  	 	 	 
	 	Name:  	Todd Schanzlin 	 	 
	 	Title:  	Director 	 	 
	 

 

 

Each Guarantor acknowledges and agrees to each the foregoing provisions of this Term Loan
Assumption Agreement and to the incurrence of the Term Loans to be made pursuant thereto.

	 	 	 	 	 
	EXTERRAN PARTNERS, L.P.

 	 	 
	By:  	EXTERRAN GENERAL PARTNER, L.P.,
 	 	 
	 	its General Partner 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	                  EXTERRAN GP LLC,
 	 	 
	 	its General Partner 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	
 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

	 	 	 	 	 
	EXLP LEASING LLC

 	 	 
	By:  	EXLP OPERATING LLC,
 	 	 
	 	its sole member 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	                  EXTERRAN PARTNERS, L.P.,
 	 	 
	 	its sole member 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	                  EXTERRAN GENERAL PARTNER, L.P.,
 	 	 
	 	its General Partner 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	                  EXTERRAN GP LLC,
 	 	 
	 	its General Partner 	 	 
	 	 	 	 
	 
	 	 	 
	By:  	
 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

 

 

Annex I

TERMS AND CONDITIONS FOR

TERM LOAN ASSUMPTION AGREEMENT

Dated as of May 8, 2008

1. Name of Borrower: EXLP Operating LLC

2. Term Commitment Amounts (as of the Commitment Effective Date):

	 	 	 	 	 
	Names/Addresses of	 	 	 	 
	Term Loan Lenders	 	 	 	Amount of Term Commitment
	[___]

	 	 
	 	$[___]

3. Term Loan Funding Date: On any Business Day upon three (3) Business Days prior notice
before the date of the proposed Borrowing; provided that the Term Loan Funding Date shall
be no later than July 30, 2008. Such notice of Borrowing shall be in the form of a Borrowing
Request in accordance with Section 2.03 of the Credit Agreement.

4. Term Loan Maturity Date: October 20, 2011

5. Applicable Margin: In respect of the Term Loan Facility, a percentage per annum
determined by reference to the Total Leverage Ratio as in effect from time to time, as set forth
below:

	 	 	 	 	 	 	 	 	 
	Applicable Margin
	Total Leverage Ratio	 	Eurodollar Loans (bps)	 	ABR Loans (bps)
	Greater than 4.75 to 1.0

	 	 	250	 	 	 	150	 
	Less than or equal to 4.75 to
1.0 but greater than 4.25 to 1.0

	 	 	225	 	 	 	125	 
	Less than or equal to 4.25 to
1.0 but greater than 3.75 to 1.0

	 	 	200	 	 	 	100	 
	Less than or equal to 3.75 to
1.0 but greater than 3.25 to 1.0

	 	 	175	 	 	 	75	 
	Less than or equal to 3.25 to 1.0

	 	 	150	 	 	 	50	 

For purposes of determining the Applicable Margin for the period commencing on the Term Loan
Funding Date, the Total Leverage Ratio will be deemed to be less than or equal to 4.25 to 1.0 but
greater than 3.75 to 1.0, resulting in the Applicable Margin for Eurodollar Loans of 200 basis
points.

 

 

Each change in the Applicable Margin resulting from a change in the Total Leverage Ratio (which
shall be calculated quarterly) shall take effect as of the fifth Business Day following the receipt
of the compliance certificate delivered pursuant to Section 8.01(g) of the Credit Agreement.

6. Use of Proceeds: The Borrower will use the proceeds of the Term Loans to repay debt
assumed in connection with the purchase of compression equipment from Exterran Energy Solutions,
L.P. and to pay related fees and expenses not in contravention of any Governmental Requirement or
of any Loan Document.

 

 

APPENDIX I

FORM OF AUTHORIZATION

May 8, 2008

Wachovia Bank, National Association,

as Administrative Agent

Charlotte Plaza, CP-8

201 South College Street

Charlotte, North Carolina 28288-0608

Attention: Syndication Agency Services

			
	     Re:	 	First Amendment to Loan Documents dated as of May 8, 2008 (the “First
Amendment”) among EXLP Operating LLC, as the Borrower, Exterran Partners, L.P.
(“EXLP”), as a Guarantor, EXLP Leasing LLC, as a Guarantor, Wachovia Bank,
National Association, as the Administrative Agent and the Lenders which are parties
thereto

     This letter acknowledges our receipt and review of the First Amendment in the form posted to
SyndTrak Online. By executing this letter, we hereby approve the First Amendment and authorize the
Administrative Agent to execute and deliver the First Amendment on our behalf.

     Each financial institution executing this Authorization agrees or reaffirms that it shall be a
party to that certain Senior Secured Credit Agreement dated October 20, 2006 among the Borrower,
EXLP, the Administrative Agent and the Lenders party thereto (as amended, modified, supplemented or
restated from time to time, the “Credit Agreement”) and the other Loan Documents (as
defined in the Credit Agreement) to which Lenders are parties and shall have the rights and
obligations of a Lender under each such agreement.

	 	 	 	 	 
	 	[Insert name of applicable financial institution]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv10w2

 

Exhibit 10.2

BASIC ENERGY SERVICES, INC.

FORM OF RESTRICTED STOCK GRANT AGREEMENT

(Officers and Employees)

Grantee:                                         

     1. Grant of Stock. As of the Grant Date (identified in Section 12 below), Basic
Energy Services, Inc. (formerly BES Holding Co.), a Delaware corporation (the “Company”), hereby
grants to the Grantee (identified above), an employee of the Company, the number of shares of the
Company’s common stock, $0.01 par value per share (the “Common Stock”) identified in Section 12)
below (the “Shares”), subject to the terms and conditions of this agreement (the “Agreement”) and
the Second Amended and Restated Basic Energy Services, Inc. 2003 Incentive Plan (as amended, the
“Plan”). The Plan is hereby incorporated in this Agreement in its entirety by reference. The
Shares, when delivered to Grantee upon expiration of the vesting period, shall be fully paid and
nonassessable.

     2. Definitions. All capitalized terms used herein shall have the meanings set forth
in the Plan unless otherwise provided herein. Section 12 below sets forth meanings for certain of
the capitalized terms used in this Agreement.

     3. Vesting Term. The Shares granted to Grantee hereunder on the Grant Date
(identified in Section 12 below) will vest in the Grantee in the increments set forth in Section 12
below on each of the dates set forth in Section 12 below.

     4. Grant Price. No consideration shall be payable by the Grantee to the Company for
the Shares.

     5. Restriction on Shares.

     (a) The Shares granted to Grantee hereunder shall be maintained in book entry form or
the stock certificates shall be retained in the possession of the Company until vested in
the Grantee as provided in Sections 3 and 12 hereof.

     (b) All unvested shares will be forfeited by the Grantee (a) if the Grantee’s
employment with the Company is terminated by the Company for “Cause” before the Shares are
vested or (b) if the Grantee terminates his employment with the Company before the Shares
are vested for any reason other than (i) “Good Reason” or (ii) the death or “Disability” of
the Grantee, as such terms “Cause,” “Disability” or “Good Reason” or equivalent terms (such
as “Termination for Cause” or “Termination for Good Reason”) are defined in the employment
agreement in effect between the Grantee and the Company as of the date hereof or, if no such
agreement exists, as such terms are defined in the Plan at the time of such termination of
employment to the extent not modified in Section 12 below. “Retirement” shall also have
the effect as set forth in Section 12(g) below.

 

 

     (c) At such time as the vesting period is satisfied, a certificate for the Shares no
longer subject to forfeiture will be delivered to the Grantee without the legend set forth
in Section 5(e) below.

     (d) From and after the date of this Grant and prior to any forfeiture of the Shares,
the Grantee shall be entitled to vote the Shares and shall be entitled to receive any cash
dividends payable on the Shares. Any stock dividends applicable to the Shares shall be
retained by the Company until the vesting period of the Shares on which the stock dividend
was issued is satisfied.

     (e) Any book entry of shares or certificate representing the Shares granted hereunder
shall be issued to the Grantee pursuant to the terms of the Plan as of the Grant Date and
shall be marked with the following legend:

“The shares represented by this certificate have been issued pursuant to the terms of the
Second Amended and Restated Basic Energy Services, Inc. 2003 Incentive Plan and may not be
sold, pledged, transferred, assigned or otherwise encumbered in any manner except as set
forth in the terms of such Plan or Award dated March 11, 2008.”

     6. Independent Legal and Tax Advice. Grantee acknowledges that the Company has
advised Grantee to obtain independent legal and tax advice regarding the grant of the Shares in
accordance with this Agreement and any disposition of any such Shares.

     7. Reorganization of Company. The existence of this Agreement shall not affect in any
way the right or power of the Company or its stockholders to make or authorize any or all
adjustments, recapitalizations, reorganizations or other changes in Company’s capital structure or
its business, or any merger or consolidation of the Company, or any issue or bonds, debentures,
preferred or prior preference stock ahead of or affecting the Shares or the rights thereof, or the
dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets
or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

     8. Investment Representation. Grantee will enter into such written representations,
warranties and agreements as Company may reasonably request in order to comply with any federal or
state securities law. Moreover, any stock certificate for any Shares issued to Grantee hereunder
may contain a legend restricting their transferability as determined by the Company in its
discretion. Grantee agrees that Company shall not be obligated to take any affirmative action in
order to cause the issuance or transfer of Shares hereunder to comply with any law, rule or
regulation that applies to the Shares subject to this Agreement.

     9. No Guarantee of Employment. This Agreement shall not confer upon Grantee any right
to continued employment with the Company or any Affiliate thereof.

     10. Withholding of Taxes; Share Withholding. The Grantee shall have the
responsibility of discharging all taxes (state and federal) owed by the Grantee as a result of this
Agreement. Grantee agrees that, if he makes an election under Section 83(b) of the Internal
Revenue Code of 1986, as amended, with regard to the Shares, he will so notify the Company in
writing within two (2) weeks after making such election, so as to enable the Company to timely

2

 

comply with any applicable governmental reporting requirements. In accordance with Section
9(b) of the Plan, the Company hereby agrees that the Grantee may direct the Company to satisfy the
Company’s actual withholding tax obligations through the “constructive” tender and withholding of
vested Restricted Stock under this Agreement; provided, the Company may revoke such right at any
time prior to the vesting date of Awards under this Agreement by giving written notice to the
Grantee.

     11. General.

     (a) Notices. All notices under this Agreement shall be mailed or delivered by
hand to the parties at their respective addresses set forth beneath their signatures below
or at such other address as may be designated in writing by either of the parties to one
another, or to their permitted transferees if applicable. Notices shall be effective upon
receipt.

     (b) Transferability of Grant. The rights of the Grantee pursuant to this
Agreement are not transferable by Grantee. No right or benefit hereunder shall in any
manner be liable for or subject to any debts, contracts, liabilities, obligations or torts
of Grantee or any permitted transferee thereof. Any purported assignment, alienation,
pledge, attachment, sale, transfer or other encumbrance of the Shares, prior to the lapse of
restrictions, that does not satisfy the requirements hereunder shall be void and
unenforceable against the Company.

     (c) Amendment and Termination. No amendment, modification or termination of
this Agreement shall be made at any time without the written consent of Grantee and the
Company.

     (d) No Guarantee of Tax Consequences. The Company and the Committee make no
commitment or guarantee that any federal or state tax treatment will apply or be available
to any person eligible for benefits under this Agreement. The Grantee has been advised and
been provided the opportunity to obtain independent legal and tax advice regarding the award
of Shares pursuant to this Agreement and the disposition of any Common Stock acquired
thereby.

     (e) Severability. In the event that any provision of this Agreement shall be
held illegal, invalid or unenforceable for any reason, such provision shall be fully
severable, but shall not affect the remaining provisions of the Agreement, and the Agreement
shall be construed and enforced as if the illegal, invalid or unenforceable provision had
not been included therein.

     (f) Supersedes Prior Agreements. This Agreement shall supersede and replace
all prior agreements and understandings, oral or written, between the Company and the
Grantee regarding the grant of the Shares covered hereby.

     (g) Governing Law. This Agreement shall be construed in accordance with the
laws of the State of Texas without regard to its conflict of law provisions, to the extent
federal law does not supersede and preempt Texas law.

3

 

     (h) No Trust or Fund Created. This Agreement shall not create or be construed
to create a trust or separate fund of any kind or a fiduciary relationship between the
Company or any Affiliate and a Grantee or any other Person. To the extent that any Person
acquires a right to receive payments from the Company or any Affiliates pursuant to an
Award, such right shall be no greater than the right of any general unsecured creditor of
the Company or any Affiliate.

     (i) Other Laws. The Company retains the right to refuse to issue or transfer
any Shares if it determines that the issuance or transfer of such Shares might violate any
applicable law or regulation or entitle the Company to recover under Section 16(b) of the
Securities Exchange Act of 1934.

     (j) Binding Effect. This Agreement shall be binding upon and inure to the
benefit of any successors of the Company and all persons lawfully claiming under the
Grantee.

     12. Definitions and Other Terms. The following capitalized terms shall have those
meanings set forth opposite them:

	 	 	 
	(a) Grantee:

	 	The person specified as the Grantee on page 1 and the signature page hereto.
	 
	 	 
	(b) Grant Date:

	 	March 11, 2008
	 
	 	 
	(c) Shares:

	 	                     Shares of the Company’s Common Stock
	 
	 	 
	(d) Vesting:

	 	Subject to Section 5 above and the terms of
the Plan, the Grantee shall vest in all rights to the Shares and any rights
of the Company to such Shares shall lapse with respect to the Shares on the
earlier of (i) the dates set forth below; (ii) termination by the Company
without Cause; (iii) the death or Disability of the Grantee; or (iv)
Termination for Good Reason. If not earlier vested, the Shares shall vest
according to the following schedule:
	 
	 	 
	 

	 	     March 15,
2010 -                       Shares
	 

	 	     March 15, 2011 -                      Shares
	 

	 	     March 15, 2012 -                      Shares
	 

	 	     March 15, 2013 -                      Shares
	 
	 	 
	(e) Termination for Good Reason.

	 	 	 
	 

	 	Termination for Good Reason shall have the meaning
set forth in the Plan, except that clause (ii) of the
definition thereof is hereby amended and
restated in its entirety as follows:

4

 

	 	 	 
	 

	 	(ii) reduction in (a) the Participant’s annual base
salary immediately prior to the Change in Control,
(b) the Participant’s target bonus opportunity
(expressed as a percentage of the Participant’s
annual base salary or other method approved by the
Committee) immediately prior to the Change in Control
or (c) benefits comparable in the aggregate to those
enjoyed by the Participant under the Company’s
retirement, life insurance, medical, dental, health,
accident and disability plans in which Participant
was participating immediately prior to the Change in
Control;
	 
	 	 
	(f) Disability.

	 	“Disability” shall mean that Grantee is
entitled to receive long-term disability (“LTD”) income benefits under the LTD
plan or policy maintained by the Company that covers Grantee. If, for any
reason, Grantee is not covered under such LTD plan or policy, then “Disability”
shall mean a “permanent and total disability” as defined in Section 22(e)(3) of
the Code and Treasury regulations thereunder. Evidence of such Disability
shall be certified by a physician acceptable to the Company. Grantee agrees to
submit to any examinations that are reasonably required by the attending
physician or other healthcare service providers to determine whether he or she
has a Disability.
	 
	 	 
	(g) Retirement.

	 	“Retirement” means the voluntary
termination of Grantee’s employment for normal retirement at or after attaining
age 62 provided that, on the date of his retirement, Grantee has accrued at
least ten continuous years of active employment service with the Company;
provided, if the Grantee is party to an employment agreement in effect between
the Grantee and the Company as of the date hereof in which the term
“Retirement” is defined for purposes of that agreement, such term shall apply
to this Agreement.
	 
	 	 
	 

	 	In the event of the Retirement of the Grantee,
Grantee is hereby given the option to have any
unvested shares forfeited in connection with such
Retirement in accordance with Section 5(b) reissued to the Grantee upon, and as partial consideration
for, Grantee’s execution and delivery of a
non-compete agreement (in the form required by the
Company in its sole discretion with a term of not
longer than the final vesting date set forth in
Section 12(d) above) within the period of time
specified by the Company after delivery of such
agreement to the Grantee for execution.

5

 

     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its
duly authorized officer and Grantee has hereunto executed this Agreement as of the same date, to be
effective as of March ___, 2008.

	 	 	 	 	 	 	 
	 	 	BASIC ENERGY SERVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 
	 	 	Basic Energy Services, Inc.	 	 
	 	 	P.O. Box 10460	 	 
	 	 	Midland, Texas 79702	 	 
	 	 	Fax: (432) 620-5501	 	 
	 
	 	 	 	 	 	 
	 	 	Attn: President	 	 
	 
	 	 	 	 	 	 
	 	 	GRANTEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Fax:	 	 	 	 
	 

	 	 	 	 

	 	 

7

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