Amendment No. 1 to Second Amended and Restated Promissory Note between Canadian Forest Oil Ltd. and Forest Oil Corporation

Contract Categories: Business Finance Note Agreements
Summary

Canadian Forest Oil Ltd. and Forest Oil Corporation have agreed to amend their existing promissory note. The amendment increases the maximum principal amount that Canadian Forest Oil Ltd. may owe to Forest Oil Corporation from $200 million to $250 million. All other terms of the original promissory note remain unchanged and are reaffirmed. The amendment is effective as of May 13, 2010.

EX-10.10 3 a2201430zex-10_10.htm EX-10.10

Exhibit 10.10

 

Amendment No. 1 to

Second Amended and Restated Promissory Note

of

Canadian Forest Oil Ltd.

 

WHEREAS, the Canadian Forest Oil Ltd. (the “Corporation”) previously has executed and delivered a Second Amended and Restated Promissory Note (the “Promissory Note”), payable to Forest Oil Corporation, as the Holder (“Forest”), in the maximum principal amount of US$200,000,000; and

 

WHEREAS, the Corporation and Forest now wish to amend the Promissory Note to increase the maximum principal amount thereof to $250,000,000.

 

NOW, THEREFORE, the Promissory Note shall be amended as follows:

 

1.                                      Effective as of May 13, 2010, all references to the aggregate principal amount that may be outstanding under the Promissory Note shall be increased to $250,000,000.

 

2.                                      The Promissory Note, as amended hereby, is ratified and reaffirmed in all respects.

 

IN WITHNESS WHEREOF, the Corporation has hereunto set its hand effective for all purposes.

 

 

CANADIAN FOREST OIL LTD.

 

 

 

 

 

By:

/s/ David M. Anderson

 

 

David M. Anderson

 

 

President

 

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