Document:

Exhibit 10.1

                              ASSIGNMENT AGREEMENT

THIS AGREEMENT dated for reference the 21st day of January, 2010

BETWEEN:

               American Eagle Energy Inc., 27 North 27th Street, Suite 21G,
               Billings, Montana 59101

               (the "Assignee")

AND:

               Murrayfield Limited, Conference House, 152 Morrison Street, The
               Exchange Edinburgh EH3 8E8 United Kingdom

               ("Murrayfield" or the "Assignor")

WHEREAS:

A. Miramar Petroleum Inc. and Murrayfield  entered into an assignment of oil and
gas lease  dated  August 28,  2009,  attached  hereto as Exhibit "A" (the "Lease
Assignment  Agreement")  further to a Lease Purchase and  Development  Agreement
dated August 5, 2009 wherein Murrayfield had acquired from Miramar the "Assigned
Working  Interest"  as defined  therein,  in regards to a leasehold  interest in
Willacy County,  Texas,  known as the "Sauz Ranch Prospect";  and B. Murrayfield
wishes to assign to the Assignee all of Murrayfield's  right, title and interest
in and to the Lease  Assignment  Agreement and the Assigned  Working Interest in
accordance with the terms of this Agreement (the "Assignment").

NOW THEREFORE,  in  consideration of the sum of  US$137,500.000  now paid by the
Assignee  to the  Assignor  (the  receipt  and  sufficiency  of which are hereby
acknowledged by the Assignors), the Assignors covenant and agree as follows:

THE ASSIGNMENT AND ACCEPTANCE

1.  Murrayfield  hereby  unconditionally  forever  assigns and  transfers to the
Assignee  all of  Murrayfield's  right,  title and  interest in and to the Lease
Assignment  Agreement  and the  Assigned  Working  Interest and all benefits and
advantages to be derived therefrom (the "Assignment").

2. The Assignor represents and warrants to the Assignee, with the knowledge that
the Assignee  relies upon same in entering into this  Agreement,  that:
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                                      -2-

     (a)  the Assignor owns the Assigned  Working  Interest and its rights under
          the Lease Assignment Agreement free and clear of all liens, charges or
          encumbrances;

     (b)  the  Assignor  has all  requisite  power  and  capacity,  and has duly
          obtained all  requisite  authorizations  and  performed  all requisite
          acts, to enter into and perform their obligations hereunder,  they has
          duly executed and  delivered  this  Agreement  and such  constitutes a
          legal,  valid and binding  obligation of it enforceable  against it in
          accordance with the Agreement's  terms,  and the entering into of this
          Agreement and the performance of their obligations  hereunder does not
          and will not result in a breach of, default under or conflict with any
          of the terms and provisions of any of its constituting documents,  any
          resolutions  of their  partners,  any  indenture,  agreement  or other
          instrument  to which  they are a party or by which  they are  bound or
          which the Assigned Working Interest may be subject to, or any statute,
          order, judgment or other law or ruling of any competent authority;

     (c)  the Lease  Assignment  Agreement  is in good  standing  as at the date
          hereof and no default has occurred therein; and

     (d)  the Assignor has the legal  capacity and  competence to enter into and
          execute  this  Agreement  and to take all  actions  required  pursuant
          hereto and they are duly incorporated and validly subsisting under the
          laws of its jurisdiction of incorporation and all necessary  approvals
          by their  directors,  shareholders  and others  have been  obtained to
          authorize execution and performance of this Agreement on behalf of the
          Assignor.

3. The Assignor will at all times hereafter execute and deliver,  at the request
of the Assignee, all such further documents, deeds and instruments,  and will do
and perform all such acts as may be  necessary  or desirable to give full effect
to the intent and meaning of this Agreement.  Without limiting the generality of
the foregoing,  the Assignors will execute such financing statements,  financing
change  statements,  notices or  directions  as may be necessary or advisable to
cause all pertinent  offices of public record to amend their records to show the
interests of the Assignee in the Lease Assignment Agreement.

4. Each of the parties to this Agreement  acknowledges  that such party has read
this  document  and  fully   understands  the  terms  of  this  Agreement,   and
acknowledges  that this  Agreement  has been executed  voluntarily  after either
receiving independent legal advice, or having been advised to obtain independent
legal advice and having elected not to do so

5. This  Agreement  will enure to the benefit of the Assignee and its successors
and  assigns,  and will be binding  upon the  Assignor  and its  successors  and
assigns.

6. This Agreement will be governed by and construed in accordance  with the laws
in force in the  State of Nevada  and the  parties  submit to the  non-exclusive
jurisdiction of the courts of State of Nevada in any  proceedings  pertaining to
the Assignment or this Agreement.

7. This  Agreement may be executed in any number of  counterparts  with the same
effect  as if  all  parties  hereto  had  all  signed  the  same  document.  All
counterparts  will be construed  together and will  constitute  one and the same
agreement.
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                                      -3-

IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day
and year first above written.

AMERICAN EAGLE ENERGY INC.

Per:
    -----------------------------------
    Authorized Signatory

MURRAYFIELD LIMITED

Per:
    -----------------------------------
    Authorized Signatory
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                                      -4-

                                    EXHIBIT A

                    LEASE PURCHASE AND DEVELOPMENT AGREEMENTel paso - 4th amend credit agt

 

SIXTH AMENDMENT TO

CREDIT AGREEMENT AND WAIVER

 

This SIXTH AMENDMENT TO CREDIT AGREEMENT AND WAIVER (this "Sixth Amendment") dated as of January 12, 2010 is among INTL COMMODITIES, INC., a Delaware corporation (the "Borrower"), the lenders from time to time parties to the Credit Agreement (as defined below) (the "Lenders"), FORTIS BANK SA/NV, NEW YORK BRANCH, as an Issuing Bank (an "Issuing Bank"), Lead Arranger, Documentation Agent (the "Documentation Agent"), Syndication Agent (the "Syndication Agent") and Swing Line Lender and FORTIS CAPITAL CORP., a Connecticut corporation, as Administrative Agent (the "Administrative Agent").

 

W I T N E S S E T H:

 

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to a Credit Agreement dated as of April 30, 2007 (as amended, supplemented or otherwise modified from time to time, the "Credit Agreement"; capitalized terms used herein having the meanings given to them in the Credit Agreement unless otherwise defined herein); and

WHEREAS, the Borrower has requested certain amendments to the Credit Agreement, and, pursuant to Section 11.01 of the Credit Agreement, the Borrower, the Lenders, the Swap Banks and the Administrative Agent have agreed to amend the Credit Agreement on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

SECTION 1.   Amendments. 

Upon the occurrence of the Effective Date (as defined in Section 3 below), the Credit Agreement is hereby amended as follows:

	The definitions of "Eurodollar Effective Amount", "Issuing Bank", "Requirement of Law" and "Swing Line Lender" in Section 1.01 are amended and restated in their entirety as follows:

"Eurodollar Effective Amount" means the principal amount of a Eurodollar Rate Loan."

 "Issuing Bank" means (a) Fortis Bank SA/NV, New York Branch, (b) subject to the agreement of the Borrower, the Administrative Agent and such other Lender, any other Lender, (c) any office, branch or affiliate designated by the applicable Issuing Bank, and (d) any successor Issuing Bank pursuant to the terms of this Agreement."

"Requirement of Law" or "Law" means as to any Person, any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or of a Governmental Authority, in each case applicable to or binding upon the Person or any of its property or to which the Person or any of its property is subject."

"Swing Line Lender" means (a) Fortis Bank SA/NV, New York Branch, in its capacity as lender of Swing Line Loans hereunder, (b) subject to the agreement of the Borrower, the Administrative Agent and such other Lender, any other Lender, and (c) any office, branch or affiliate designated by the applicable Swing Line Lender."  

	Section 2.03(a) is amended by deleting the first reference to "1:00 p.m." and replacing it with "10:00 a.m.".
	Section 2.03A(a) is amended by deleting the proviso at the end thereof and replacing the ";" at the end of clause (ii) with ".".
	Section 2.05(b) is amended by deleting "the lesser of (a) the Borrowing Base Advance Cap or (b) the total Committed Line," and replacing it with "the Borrowing Base Advance Cap,".
	Section 2.13(a) is amended by deleting in the proviso therein "the lesser of the Committed Line or".
	Section 3.01(b)(vii) is amended by deleting "the lesser of (x) the Borrowing Base Advance Cap or (y) the Committed Line," and replacing it with "the Borrowing Base Advance Cap,".
	The last paragraph of Section 11.08 is amended by inserting the following sentence at the end thereof:

"Notwithstanding anything in the foregoing to the contrary, a Lender may use the Information in connection with preparing internal analysis, reports and comparisons regarding the Borrower's industry and related industries."
	Exhibit G is amended by changing Sections 3(c), (d) and (e) to 3(a), (b) and (c).

SECTION 2.   Waiver.

Upon the occurrence of the Effective Date (as defined in Section 3 below), solely in connection with the addition of Fortis Bank (Nederland) NV ("FBN") as a Lender and the related increase of the Committed Line by $30,000,000, the Lenders hereby waive (i) compliance by the Borrower with the requirement under Section 2.01(b) of the Credit Agreement that the Borrower deliver notice in the form of Exhibit I to the Credit Agreement and (ii) their right under Section 2.01(b) of the Credit Agreement to increase their Committed Line Portions.

SECTION 3.   Effectiveness of Amendment, etc.

This Sixth Amendment shall become effective on the date (the "Effective Date") on which each of the following shall have been satisfied: 

	each of the Borrower, the Administrative Agent, the Swap Banks and the Lenders shall have duly executed this Sixth Amendment; and the Parent shall have duly executed and delivered to the Administrative Agent a consent substantially in the form of Annex I hereto; and
	the Administrative Agent shall have received such corporate authorization documents of the Borrower and the Parent and such opinions of counsel, as the Required Lenders shall request.

SECTION 4.Effect of Amendment; Ratification; Representations; etc.

(a)On and after the Effective Date, the provisions of this Sixth Amendment shall be a part of the Credit Agreement, all references to the Credit Agreement in the Credit Agreement and the other Loan Documents shall be deemed to refer to the Credit Agreement as amended by this Sixth Amendment, and the term "this Agreement", and the words "hereof", "herein", "hereunder" and words of similar import, as used in the Credit Agreement, shall mean the Credit Agreement as amended hereby.

(b)Except as expressly set forth herein, this Sixth Amendment shall not constitute an amendment, waiver or consent with respect to any provision of the Credit Agreement, as amended hereby, and the Credit Agreement, as amended hereby, is hereby ratified, approved and confirmed in all respects.  The waiver set forth in Section 2 above shall be effective only in the specific instance and for the purpose for which given and shall not constitute a waiver of any other provision.

(c)In order to induce the Administrative Agent and the Lenders to enter into this Sixth Amendment, the Borrower represents and warrants to the Administrative Agent and the Lenders that before and after giving effect to the execution and delivery of this Sixth Amendment:

(i)the representations and warranties of the Borrower set forth in the Credit Agreement and in the other Loan Documents shall be true and correct in all material respects as if made on and as of the date hereof, except for those representations and warranties that by their terms were made as of a specified date which shall be true and correct on and as of such date, and

(ii)no Default or Event of Default has occurred and is continuing.

(d)The Borrower hereby acknowledges and agrees that the Security Agreements and the Liens granted under the Security Agreements shall remain in full force and effect, shall continue without interruption as security for all of the Obligations and shall not be limited or impaired by this Sixth Amendment or the transactions contemplated hereby.  

(e)From and after the Effective Date, the Borrower, the Administrative Agent, the Swap Banks and the Lenders hereby agree that FBN shall be a party to the Intercreditor Agreement and shall be bound by the terms and provisions thereof (and entitled to the benefits thereof) as a Lender.

SECTION 5.Counterparts.

	

This Sixth Amendment may be executed by one or more of the parties to this Sixth Amendment on any number of separate counterparts (including by facsimile transmission of signature pages hereto), and all of said counterparts taken together shall be deemed to constitute one and the same agreement.  A set of the copies of this Sixth Amendment signed by all the parties shall be lodged with the Borrower and the Administrative Agent.

SECTION 6.   Severability.

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

SECTION 7.   GOVERNING LAW.

THIS SIXTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

SECTION 8.   WAIVERS OF JURY TRIAL

.  

THE BORROWER, THE ADMINISTRATIVE AGENT, THE SWAP BANKS AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS SIXTH AMENDMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

 

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

 
INTL COMMODITIES, INC.

 

By: //Sean O'Connor________

Name:Sean O'Connor

Title:Chairman

 

By: //Steven Springer_______

Name:Steven Springer

Title:CFO

 

FORTIS CAPITAL CORP.,

as Administrative Agent and as a Swap Bank

 

By: _//Michiel van der Voort____

Name: Michiel van der Voort

Title:  Managing Director

 

By: // Juan Mejia______________

Name: Juan Mejia

Title:   Director

FORTIS BANK SA/NV, NEW YORK BRANCH, as an Issuing Bank and as a Lender, the Swing Line Lender and a Swap Bank

 

By: //Cristina Roberts__________

Name: Cristina Roberts

Title:  Managing Director

 

By: //Michiel van der Voort_____

Name: Michiel van der Voort

Title:   Managing Director

 

 

MIZUHO CORPORATE BANK, LTD.,

as a Lender

 

By: //Hodaka Shoji____________

Name: Hodaka Shoji

Title:   Senior Vice President

 

By: _________________________

Name:

Title:

BROWN BROTHERS HARRIMAN & CO., as a Lender

 

By: _//Paul Feldman___________

Name:  Paul Feldman

Title:  Managing Director

 

By: //Lewis Hart_______________

Name:  Lewis Hart

Title:    Assistant Vice President

 

 

 

Annex I

 

CONSENT OF PARENT

As of January 12, 2010, the undersigned hereby reaffirms the terms, conditions and the undersigned's obligations under and in connection with the Parent Guarantee dated as of April 30, 2007 (as amended, supplemented or otherwise modified from time to time, the "Parent Guarantee") executed by the undersigned and agrees that the undersigned's obligations under the Parent Guarantee shall remain in full force and effect after giving effect to the Sixth Amendment to Credit Agreement dated as of January 12, 2010 among INTL Commodities, Inc., the Lenders party thereto, Fortis Bank SA/NV, New York Branch as an Issuing Bank and Fortis Capital Corp. as Administrative Agent.  For the avoidance of doubt, the undersigned agrees to pay and reimburse all expenses incurred by the Administrative Agent and the Lenders (including, without limitation, attorneys' fees and disbursements) in connection with the enforcement of the Parent Guarantee.  

 
INTERNATIONAL ASSETS HOLDING CORPORATION

By:_// Sean O'Connor_________

      Name:Sean O'Connor

      Title:CEO

By:_// Scott Branch_________

      Name:Scott Branch

      Title:COO

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