$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
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
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as of the Amendment Effective Date, in form and substance satisfactory to the Administrative Agent.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
| MARATHON OIL CORPORATION | ||||
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| By: | /s/ P.C. Reinbolt |
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| Name: | P.C. Reinbolt | ||
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| Title: | V.P., Finance & Treasurer | ||
| Administrative Agent | ||
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| JPMORGAN CHASE BANK, N.A., as | ||
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| By: | /s/ Kevin J. Utsey |
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| Name: Kevin J. Utsey | |
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| Title: Vice President |
| Syndication Agent | ||
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| BANK OF AMERICA, N.A., as Syndication | ||
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| By: | /s/ Ronald E. McKaig |
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| Name: Ronald E. McKaig | |
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| Title: Senior Vice President |
| Documentation Agent | ||
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| MORGAN STANLEY BANK, as a | ||
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| By: | /s/ Daniel Twenge |
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| Name: Daniel Twenge | |
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| Title: Authorized Signatory |
| CITIBANK, N.A., as a Documentation | ||
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| By: | /s Amy Pincu |
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| Name: Amy Pincu | |
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| Title: Attorney-in-Fact |
| Lenders | ||
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| ABN AMRO BANK N.V. | ||
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| By: | /s/ Sheldon Stoughton |
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| Name: Sheldon Stoughton | |
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| Title: Managing Director | |
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| By: | /s/ Scott Donaldson |
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| Name: Scott Donaldson | |
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| Title: Director |
| BNP PARIBAS | ||
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| By: | /s/ Brian M. Malone |
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| Name: Brian M. Malone | |
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| Title: Managing Director | |
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| By: | /s/ Betsy Jocher |
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| Name: Betsy Jocher | |
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| Title: Director |
| THE BANK OF TOKYO-MITSUBISHI | ||
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| By: | /s/ Linda Terry |
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| Name: Linda Terry | |
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| Title: Vice President & Manager |
| DEUTSCHE BANK AG NEW YORK | ||
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| By: | /s/ Marcus Tarkington |
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| Name: Marcus Tarkington | |
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| Title: Director | |
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| By: | /s/ Rainer Meier |
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| Name: Rainer Meier | |
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| Title: Vice President |
| LEHMAN BROTHERS BANK, FSB | ||
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| By: | /s/ Janine M. Shugan |
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| Name: Janine M. Shugan | |
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| Title: Authorized Signatory |
| NATIONAL CITY BANK | ||
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| By: | /s/ Thomas E. Redmond |
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| Name: Thomas E. Redmond | |
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| Title: Senior Vice President |
| THE BANK OF NOVA SCOTIA | ||
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| By: | /s/ Andrew Ostrov |
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| Name: Andrew Ostrov | |
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| Title: Director |
| SOCIETE GENERALE | ||
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| By: | /s/ Stephen W. Warfel |
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| Name: Stephen W. Warfel | |
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| Title: Managing Director |
| FIFTH THIRD BANK | ||
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| By: | /s/ Mike Mendenhall |
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| Name: Mike Mendenhall | |
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| Title: Vice President |
| THE BANK OF NEW YORK | ||
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| By: | /s/ Hussam S. Alsahlani |
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| Name: Hussam S. Alsahlani | |
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| Title: Vice President |
| COMERICA BANK | ||
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| By: | /s/ Mark B. Grover |
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| Name: Mark B. Grover | |
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| Title: First Vice President |
| CREDIT SUISSE, Cayman Islands Branch, | |||
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| By: | /s/ David Dodd |
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| Name: David Dodd | ||
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| Title: Vice President | ||
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| By: | /s/ Christopher Reo Day |
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| Name: Christopher Reo Day | ||
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| Title: Associate | ||
| DNB NOR BANK ASA | ||
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| By: | /s/ Asa Jemseby Rodgers |
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| Name: Asa Jemseby Rodgers | |
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| Title: Vice President | |
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| By: | /s/ Cathleen Buckley |
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| Name: Cathleen Buckley | |
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| Title: Vice President |
| MIZUHO CORPORATE BANK, LTD. | ||
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| By: | /s/ Raymond Ventura |
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| Name: Raymond Ventura | |
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| Title: Deputy General Manager |
| THE ROYAL BANK OF SCOTLAND PLC | ||
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| By: | /s/ Matthew Main |
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| Name: Matthew Main | |
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| Title: Managing Director |
| STANDARD CHARTERED BANK | ||
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| By: | /s/ Benjamin Velazquez |
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| Name: Benjamin Velazquez | |
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| Title: Director | |
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| By: | /s/ Robert K. Reddington |
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| Name: Robert K. Reddington | |
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| Title: AVP/Credit Documentation |
| SUMITOMO MITSUI BANKING | ||
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| By: | /s/ David A. Buck |
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| Name: David A. Buck | |
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| Title: Senior Vice President |
| WACHOVIA BANK, NATIONAL | ||
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| By: | /s/ Allison Newman |
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| Name: Allison Newman | |
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| Title: Vice President |
| WELLS FARGO BANK, NATIONAL | ||
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| By: | /s/ William S. Rogers |
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| Name: William S. Rogers | |
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| Title: Vice President |
| WILLIAM STREET COMMITMENT | ||
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| By: | /s/ Mark Walton |
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| Name: Mark Walton | |
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| Title: Assistant Vice-President |
| US BANK, N.A. | ||
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| By: | /s/ Frances W. Josephic |
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| Name: Frances W. Josephic | |
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| Title: Vice President |
| BAYERISCHE LANDESBANK, acting | ||
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| By: | /s/ Craig Anderson |
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| Name: Craig Anderson | |
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| Title: First Vice President | |
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| By: | /s/ Donna M. Quilty |
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| Name: Donna M. Quilty | |
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| Title: Vice President |
| RIYAD BANK | ||
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| By: | /s/ William B. Shepard |
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| Name: William B. Shepard | |
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| Title: General Manager | |
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| By: | /s/ Harlene Sridharan |
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| Name: Harlene Sridharan | |
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| Title: Operations Manager |
| ARAB BANKING CORPORATION | ||
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| By: | /s/ Robert Ivosevich |
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| Name: Robert Ivosevich | |
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| Title: General Manager | |
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| By: | /s/ Rami El-Rifai |
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| Name: Rami El-Rifai | |
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| Title: Vice President |
COMMITMENT SCHEDULE
Lender |
| Commitment |
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JPMorgan Chase Bank, N.A. |
| $ | 295,000,000 |
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Bank of America, N.A. |
| $ | 295,000,000 |
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Morgan Stanley Bank |
| $ | 295,000,000 |
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Citibank, N.A. |
| $ | 295,000,000 |
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BNP Paribas |
| $ | 125,000,000 |
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The Bank of Tokyo-Mitsubishi UFJ, Ltd. |
| $ | 125,000,000 |
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Deutsche Bank AG, New York Branch |
| $ | 125,000,000 |
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National City Bank |
| $ | 125,000,000 |
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The Bank of Nova Scotia |
| $ | 125,000,000 |
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Societe Generale |
| $ | 125,000,000 |
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ABN Amro Bank, N.V. |
| $ | 100,000,000 |
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Fifth Third Bank |
| $ | 90,000,000 |
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Lehman Brothers Bank, FSB |
| $ | 85,000,000 |
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DnB NOR Bank ASA |
| $ | 75,000,000 |
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William Street Commitment Corporation |
| $ | 60,000,000 |
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U.S. Bank, N.A. |
| $ | 60,000,000 |
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Comerica Bank |
| $ | 60,000,000 |
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Credit Suisse, Cayman Islands Branch |
| $ | 60,000,000 |
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Mizuho Corporate Bank, Ltd |
| $ | 60,000,000 |
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The Royal Bank of Scotland plc |
| $ | 60,000,000 |
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Standard Chartered Bank |
| $ | 60,000,000 |
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Sumitomo Mitsui Banking Corporation |
| $ | 60,000,000 |
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Wachovia Bank, National Association |
| $ | 40,000,000 |
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Wells Fargo Bank, N.A. |
| $ | 40,000,000 |
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The Bank of New York |
| $ | 35,000,000 |
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Bayerische Landesbank, Cayman Islands Branch |
| $ | 35,000,000 |
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Riyad Bank |
| $ | 35,000,000 |
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Banco Bilbao Vizcaya Argentaria |
| $ | 25,000,000 |
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Amegy Bank National Association |
| $ | 15,000,000 |
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Arab Banking Corporation |
| $ | 15,000,000 |
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Total |
| $ | 3,000,000,000 |
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