SEC Contract Filing

Filing Date: 2016-06-15

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d208754dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION VERSION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SEVENTH
AMENDMENT, CONSENT AND WAIVER TO DELAYED DRAW TERM </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LOAN AND BRIDGE LOAN CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS SEVENTH AMENDMENT, CONSENT AND WAIVER TO DELAYED DRAW TERM LOAN AND BRIDGE LOAN CREDIT AGREEMENT </B>(this
&#147;<B><I>Amendment</I></B>&#148;) is dated as of June 15, 2016 by and among Par Pacific Holdings, Inc. (f/k/a Par Petroleum Corporation), a Delaware corporation (the &#147;<B><I>Borrower</I></B>&#148;), the Guarantors party hereto (the
&#147;<B><I>Guarantors</I></B>&#148; and together with the Borrower, each a &#147;<B><I>Credit Party</I></B>&#148; and collectively, the &#147;<B><I>Credit Parties</I></B>&#148;), the lenders party hereto (the &#147;<B><I>Lenders</I></B>&#148;), and
Jefferies Finance LLC, as administrative agent for the Lenders (in such capacity, the &#147;<B><I>Administrative Agent</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Credit Parties, the Administrative Agent, and the Lenders entered into that certain Delayed Draw Term Loan and Bridge Loan Credit
Agreement dated as of July 11, 2014 (as amended by that certain First Amendment thereto dated as of July&nbsp;28, 2014, that certain Second Amendment thereto dated as of September 10, 2014, that certain Third Amendment thereto dated as of March 11,
2015, that certain Fourth Amendment thereto dated as of April 1, 2015, that certain Fifth Amendment thereto dated as of June 1, 2015, that certain Sixth Amendment thereto dated as of December 17, 2015, and as may be further amended, amended and
restated, modified, supplemented, extended, renewed, restated or replaced from time to time, the &#147;<B><I>Credit Agreement</I></B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders consent to (x) the Borrower and Par Wyoming (hereinafter
defined) executing and performing their respective obligations under and in accordance with that certain Unit Purchase Agreement dated as of June 14, 2016 among Par Wyoming, Black Elk Refining, LLC, a Delaware limited liability company, and for
certain limited purposes stated therein, the Borrower, in the form approved by the Borrower&#146;s board of directors prior to the execution of this Amendment, together with any modifications, consents, amendments or waivers thereto to the extent
that such modifications, consents, amendments or waivers are not materially adverse to the Lenders or the Administrative Agent unless consented to by the Lenders, and, if applicable, the Administrative Agent (as amended or modified (including,
without limitation, by way of consent or waiver), the &#147;<B><I>Par Wyoming Acquisition Agreement</I></B>&#148;), and (y) the consummation of the acquisition of all of the Equity Interests of Wyoming Refining Company (hereinafter defined) in
accordance with the terms and conditions of the Par Wyoming Acquisition Agreement (such acquisition, the &#147;<B><I>Par Wyoming Acquisition</I></B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has also requested that the Administrative Agent and Lenders (x) amend the Credit Agreement to permit the Borrower to
issue up to $52,500,000 of the Borrower&#146;s 2.5% Convertible Subordinated Bridge Notes due 90 days following issuance thereof (which shall be convertible into the Common Stock issued pursuant to the Second Rights Offering (hereinafter defined))
(such convertible notes, the &#147;<B><I>Bridge Convertible Notes</I></B>&#148;), (y)<I> </I>amend the Credit Agreement to permit the Borrower to issue the Borrower&#146;s unsecured convertible senior notes due 2021 in accordance with the terms and
conditions set forth in that certain preliminary offering memorandum, including the description of notes set forth therein, in substantially the form provided to the Lenders prior to the execution of this Amendment (the &#147;<B><I>Preliminary
OM</I></B>&#148;), as supplemented by the related pricing term sheet </P>

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(which shall not be inconsistent with the Preliminary OM) (such convertible notes, to the extent issued on or before July 31, 2016, the &#147;<B><I>Convertible Notes</I></B>&#148;) and (z)
consent to various other amendments to the Credit Agreement related to the execution and performance of the Par Wyoming Acquisition Agreement, the consummation of the Par Wyoming Acquisition and the issuance and sale of the Bridge Convertible Notes
and the Convertible Notes as contemplated herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Administrative Agent and Lenders have agreed to consent to the
execution and performance of the Par Wyoming Acquisition Agreement and the consummation of the Par Wyoming Acquisition and to amend the Credit Agreement to, among other things, permit