$3,000,000,000 AMENDMENT NO. 3 dated as of October 4, 2007 to the Five-Year Credit Agreement dated as of May 20, 2004 among

EX-4.1 3 a07-25930_1ex4d1.htm EX-4.1

Exhibit 4.1

 

$3,000,000,000

 

 

AMENDMENT NO. 3

 

 

dated as of October 4, 2007

 

to the Five-Year Credit Agreement

 

dated as of May 20, 2004

 

 

among

 

 

Marathon Oil Corporation

 

The Co-Agents and Other Lenders Party Hereto

 

Bank of America, N.A.,
as Syndication Agent

Citibank, N.A. and

Morgan Stanley Bank,
as Documentation Agents,

and

JPMorgan Chase Bank, N.A.,
as Administrative Agent

 



 

AMENDMENT NO. 3 TO FIVE-YEAR CREDIT AGREEMENT

 

AMENDMENT dated as of October 4, 2007 to the Five-Year Credit Agreement dated as of May 20, 2004 (as heretofore amended, the “Credit Agreement”) among MARATHON OIL CORPORATION (the “Borrower”), the CO-AGENTS and other LENDERS (the “Lenders”) party hereto, BANK OF AMERICA, N.A., as Syndication Agent, CITIBANK, N.A. and MORGAN STANLEY BANK, as Documentation Agents and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative Agent”).

 

W I T N E S S E T H :

 

WHEREAS, Section 2.16 of the Credit Agreement contemplates that the Commitments under the Credit Agreement may be increased in the manner set forth therein, and the parties wish to memorialize an increase in the Commitments pursuant to this section;

 

WHEREAS, the parties wish to simultaneously amend Section 2.16(b) of the Credit Agreement as set forth herein to provide for additional increases in the Commitments which may be effected in that manner; and

 

WHEREAS, no Loans are currently outstanding under the Credit Agreement;

 

NOW, THEREFORE, the parties hereto agree as follows:

 

Section 1. Defined Terms; References. Unless otherwise specifically defined herein, each term used herein that is defined in the Credit Agreement has the meaning assigned to such term in the Credit Agreement. Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Credit Agreement shall, after this Amendment becomes effective, refer to the Credit Agreement as amended hereby.

 

Section 2. Amendment.

 

(a)           Section 2.16 is amended by inserting, following “Upon execution and delivery by the Borrower and such Lender or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent”, the language “and the delivery by the Borrower of evidence of appropriate corporate authorization on the part of the Borrower with respect to the increase in the aggregate amount of the Commitments as the Administrative Agent may reasonably request”.

 



 

(b)           Section 2.16(b) of the Credit Agreement is amended by changing the amount specified therein from $3,000,000,000 to $4,000,000,000.

 

Section 3. Changes in Commitments. With effect from and including the Amendment Effective Date, (i) the Commitment of each Lender shall be the amount set forth opposite the name of such Lender in the Commitment Schedule attached hereto and (ii) the Commitment Schedule attached hereto shall replace the Commitment Schedule attached to the Credit Agreement. On the Amendment Effective Date, the participations in all outstanding Letters of Credit shall be determined such that all Letters of Credit Liabilities are held by the Lenders in proportion to their respective Commitments.

 

Section 4. Representations of Borrower. The Borrower represents and warrants that (i) the representations and warranties of the Borrower set forth in Article 4 of the Credit Agreement will be true on and as of the Amendment Effective Date and (ii) no Event of Default will have occurred and be continuing on such date.

 

Section 5. Effect of Amendments. Except as expressly set forth herein, the amendments contained herein shall not constitute a waiver or amendment of any term or condition of the Credit Agreement, and all such terms and conditions shall remain in full force and effect and are hereby ratified and confirmed in all respects.

 

Section 6. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York.

 

Section 7. Counterparts. This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

 

Section 8. Effectiveness. This Amendment shall become effective as of the date hereof (the “Amendment Effective Date”), subject to satisfaction of the following conditions:

 

(a)           the Administrative Agent shall have received from the Borrower and from Lenders comprising the Required Lenders (which shall in any event include each Lender whose Commitment is increased pursuant to this Amendment) a counterpart hereof signed by such party or facsimile or other written confirmation (in form satisfactory to the Administrative Agent) that such party has signed a counterpart hereof; and

 

(b)           the Administrative Agent shall have received an opinion of the General Counsel or Assistant General Counsel of the Borrower dated

 

3



 

as of the Amendment Effective Date, in form and substance satisfactory to the Administrative Agent.

 

4



 

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

 

 

MARATHON OIL CORPORATION

 

 

 

 

 

 

 

 

 

By:

  /s/ P.C. Reinbolt

 

 

 

Name:

P.C. Reinbolt

 

 

Title:

V.P., Finance & Treasurer

 



 

 

Administrative Agent

 

 

 

 

JPMORGAN CHASE BANK, N.A., as
Administrative Agent and as Lender

 

 

 

 

 

 

 

By:

  /s/ Kevin J. Utsey

 

 

 

Name: Kevin J. Utsey

 

 

Title:   Vice President

 



 

 

Syndication Agent

 

 

 

 

BANK OF AMERICA, N.A., as Syndication
Agent and as Lender

 

 

 

 

 

 

 

By:

  /s/ Ronald E. McKaig

 

 

 

Name: Ronald E. McKaig

 

 

Title:   Senior Vice President

 



 

 

Documentation Agent

 

 

 

 

MORGAN STANLEY BANK, as a
Documentation Agent and as Lender

 

 

 

 

 

 

 

By:

  /s/ Daniel Twenge

 

 

 

Name: Daniel Twenge

 

 

Title:   Authorized Signatory

 



 

 

CITIBANK, N.A., as a Documentation
Agent and as Lender

 

 

 

 

 

By:

  /s Amy Pincu

 

 

 

Name: Amy Pincu

 

 

Title:   Attorney-in-Fact

 



 

 

Lenders

 

 

 

 

ABN AMRO BANK N.V.

 

 

 

 

 

 

 

By:

  /s/ Sheldon Stoughton

 

 

 

Name: Sheldon Stoughton

 

 

Title:   Managing Director

 

 

 

 

 

 

 

By:

  /s/ Scott Donaldson

 

 

 

Name: Scott Donaldson

 

 

Title:   Director

 



 

 

BNP PARIBAS

 

 

 

 

 

 

 

By:

  /s/ Brian M. Malone

 

 

 

Name: Brian M. Malone

 

 

Title:   Managing Director

 

 

 

 

 

 

 

By:

  /s/ Betsy Jocher

 

 

 

Name: Betsy Jocher

 

 

Title:   Director

 



 

 

THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD.

 

 

 

 

 

By:

  /s/ Linda Terry

 

 

 

Name: Linda Terry

 

 

Title:   Vice President & Manager

 



 

 

DEUTSCHE BANK AG NEW YORK
BRANCH

 

 

 

 

 

By:

  /s/ Marcus Tarkington

 

 

 

Name: Marcus Tarkington

 

 

Title:   Director

 

 

 

 

 

 

 

By:

  /s/ Rainer Meier

 

 

 

Name: Rainer Meier

 

 

Title:   Vice President

 



 

 

LEHMAN BROTHERS BANK, FSB

 

 

 

 

 

 

 

By:

  /s/ Janine M. Shugan

 

 

 

Name: Janine M. Shugan

 

 

Title:   Authorized Signatory

 



 

 

NATIONAL CITY BANK

 

 

 

 

 

By:

  /s/ Thomas E. Redmond

 

 

 

Name: Thomas E. Redmond

 

 

Title:   Senior Vice President

 



 

 

THE BANK OF NOVA SCOTIA

 

 

 

 

 

 

 

By:

  /s/ Andrew Ostrov

 

 

 

Name: Andrew Ostrov

 

 

Title:   Director

 



 

 

SOCIETE GENERALE

 

 

 

 

 

 

 

By:

  /s/ Stephen W. Warfel

 

 

 

Name: Stephen W. Warfel

 

 

Title:   Managing Director

 



 

 

FIFTH THIRD BANK

 

 

 

 

 

 

 

By:

  /s/ Mike Mendenhall

 

 

 

Name: Mike Mendenhall

 

 

Title:   Vice President

 



 

 

THE BANK OF NEW YORK

 

 

 

 

 

By:

/s/ Hussam S. Alsahlani

 

 

 

Name: Hussam S. Alsahlani

 

 

Title:   Vice President

 



 

 

COMERICA BANK

 

 

 

 

 

 

 

By:

  /s/ Mark B. Grover

 

 

 

Name: Mark B. Grover

 

 

Title:   First Vice President

 



 

 

CREDIT SUISSE, Cayman Islands Branch,
formerly known as CREDIT SUISSE FIRST
BOSTON

 

 

 

 

 

By:

  /s/ David Dodd

 

 

 

Name: David Dodd

 

 

Title:   Vice President

 

 

 

 

By:

  /s/ Christopher Reo Day

 

 

 

Name: Christopher Reo Day

 

 

Title:   Associate

 



 

 

DNB NOR BANK ASA

 

 

 

 

 

By:

  /s/ Asa Jemseby Rodgers

 

 

 

Name: Asa Jemseby Rodgers

 

 

Title:   Vice President

 

 

 

 

 

 

 

By:

  /s/ Cathleen Buckley

 

 

 

Name: Cathleen Buckley

 

 

Title:   Vice President

 



 

 

MIZUHO CORPORATE BANK, LTD.

 

 

 

 

 

 

 

By:

  /s/ Raymond Ventura

 

 

 

Name: Raymond Ventura

 

 

Title:   Deputy General Manager

 



 

 

THE ROYAL BANK OF SCOTLAND PLC

 

 

 

 

 

 

 

By:

  /s/ Matthew Main

 

 

 

Name: Matthew Main

 

 

Title:   Managing Director

 



 

 

STANDARD CHARTERED BANK

 

 

 

 

 

By:

  /s/ Benjamin Velazquez

 

 

 

Name: Benjamin Velazquez

 

 

Title:   Director

 

 

 

 

 

 

 

By:

  /s/ Robert K. Reddington

 

 

 

Name: Robert K. Reddington

 

 

Title:   AVP/Credit Documentation

 



 

 

SUMITOMO MITSUI BANKING
CORPORATION

 

 

 

 

 

By:

  /s/ David A. Buck

 

 

 

Name: David A. Buck

 

 

Title:   Senior Vice President

 



 

 

WACHOVIA BANK, NATIONAL
ASSOCIATION

 

 

 

 

 

By:

  /s/ Allison Newman

 

 

 

Name: Allison Newman

 

 

Title:   Vice President

 



 

 

WELLS FARGO BANK, NATIONAL
ASSOCIATION

 

 

 

 

 

 

 

By:

  /s/ William S. Rogers

 

 

 

Name: William S. Rogers

 

 

Title:   Vice President

 



 

 

WILLIAM STREET COMMITMENT
CORPORATION (Recourse only to assets
of William Street Commitment Corporation)

 

 

 

 

 

 

 

By:

  /s/ Mark Walton

 

 

 

Name: Mark Walton

 

 

Title:   Assistant Vice-President

 



 

 

US BANK, N.A.

 

 

 

 

 

 

 

By:

  /s/ Frances W. Josephic

 

 

 

Name: Frances W. Josephic

 

 

Title:   Vice President

 



 

 

BAYERISCHE LANDESBANK, acting
through its Cayman Islands Branch

 

 

 

 

 

 

 

By:

  /s/ Craig Anderson

 

 

 

Name: Craig Anderson

 

 

Title:   First Vice President

 

 

 

 

 

 

 

By:

  /s/ Donna M. Quilty

 

 

 

Name: Donna M. Quilty

 

 

Title:   Vice President

 



 

 

RIYAD BANK

 

 

 

 

 

By:

  /s/ William B. Shepard

 

 

 

Name: William B. Shepard

 

 

Title:   General Manager

 

 

 

 

 

 

 

By:

  /s/ Harlene Sridharan

 

 

 

Name: Harlene Sridharan

 

 

Title:   Operations Manager

 



 

 

ARAB BANKING CORPORATION

 

 

 

 

 

 

 

By:

  /s/ Robert Ivosevich

 

 

 

Name: Robert Ivosevich

 

 

Title:   General Manager

 

 

 

 

 

 

 

By:

  /s/ Rami El-Rifai

 

 

 

Name: Rami El-Rifai

 

 

Title:   Vice President

 



 

COMMITMENT SCHEDULE

 

Lender

 

Commitment

 

 

 

 

 

JPMorgan Chase Bank, N.A.

 

$

295,000,000

 

Bank of America, N.A.

 

$

295,000,000

 

Morgan Stanley Bank

 

$

295,000,000

 

Citibank, N.A.

 

$

295,000,000

 

BNP Paribas

 

$

125,000,000

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

 

$

125,000,000

 

Deutsche Bank AG, New York Branch

 

$

125,000,000

 

National City Bank

 

$

125,000,000

 

The Bank of Nova Scotia

 

$

125,000,000

 

Societe Generale

 

$

125,000,000

 

ABN Amro Bank, N.V.

 

$

100,000,000

 

Fifth Third Bank

 

$

90,000,000

 

Lehman Brothers Bank, FSB

 

$

85,000,000

 

DnB NOR Bank ASA

 

$

75,000,000

 

William Street Commitment Corporation

 

$

60,000,000

 

U.S. Bank, N.A.

 

$

60,000,000

 

Comerica Bank

 

$

60,000,000

 

Credit Suisse, Cayman Islands Branch

 

$

60,000,000

 

Mizuho Corporate Bank, Ltd

 

$

60,000,000

 

The Royal Bank of Scotland plc

 

$

60,000,000

 

Standard Chartered Bank

 

$

60,000,000

 

Sumitomo Mitsui Banking Corporation

 

$

60,000,000

 

Wachovia Bank, National Association

 

$

40,000,000

 

Wells Fargo Bank, N.A.

 

$

40,000,000

 

The Bank of New York

 

$

35,000,000

 

Bayerische Landesbank, Cayman Islands Branch

 

$

35,000,000

 

Riyad Bank

 

$

35,000,000

 

Banco Bilbao Vizcaya Argentaria

 

$

25,000,000

 

Amegy Bank National Association

 

$

15,000,000

 

Arab Banking Corporation

 

$

15,000,000

 

Total

 

$

3,000,000,000