Extension and Waiver Agreement to ISDA Master Agreement between J. Aron & Company and Belden & Blake Corporation
J. Aron & Company and Belden & Blake Corporation have agreed to extend the deadline for Belden & Blake to provide a 2004 Reserve Report under their ISDA Master Agreement. The new deadline is March 31, 2005, instead of March 1, 2005. J. Aron also waives any default that might have occurred due to the late submission of this report before the new deadline. All other terms of the original ISDA Master Agreement remain unchanged.
February 25, 2005
J.Aron & Company
85 Broad Street
New York, New York 10004
Tel: 212 ###-###-####
Belden & Blake Corporation
5200 Stoneham Road
North Canton, OH
44720
Re: ISDA Master Agreement
Ladies & Gentlemen:
This is with reference to the ISDA Master Agreement dated as of June 30, 2004 (the “ISDA Agreement”) between Belden & Blake Corporation (as successor to Capital C Ohio) (“Belden & Blake”) and J. Aron & Company (“J. Aron”). Part 1(h) of the Schedule to the ISDA Agreement requires Belden & Blake to provide J. Aron by not later than March 1, 2005 with a Reserve Report for the year ended 2004 (the “December 2004 Report”). J. Aron hereby agrees that the due date under the ISDA Agreement for the December 2004 shall be extended to March 31, 2005 and waives any default that may otherwise arise under the ISDA Agreement as a direct consequence of failing to provide the December 2004 Report on any date before March 31, 2005.
Except as expressly provided herein, all terms and conditions of the ISDA Master Agreement remain in full force and effect. Capitalized terms used herein without definition shall have the respective meanings assigned to them in the ISDA Agreement. This letter shall be governed by the governing law applicable to the ISDA Agreement.
Very truly yours,
/s/ Steve Bunkin
