Letter Agreement to Extend Maturity Date under Credit Agreement among Titan Exploration, Inc., Chase Bank of Texas, N.A., and Lenders

Summary

This letter agreement, dated June 22, 2000, is between Titan Exploration, Inc., Chase Bank of Texas, N.A., and several financial institutions. It amends a prior credit agreement by extending the maturity date from April 1, 2001, to July 1, 2001. All parties agree to this change by signing the letter. The agreement ensures that Titan Exploration, Inc. has additional time to meet its obligations under the original credit agreement.

EX-10.10 5 0005.txt LETTER AGREEMENT Pure Resources, Inc. Exhibit 10.10 ------------- Letter Agreement, dated June 22, 2000, among Titan Exploration, Inc., Chase Bank of Texas, N.A., and Financial Institutions now and thereafter parties thereto. EXHIBIT 10.10 June 22, 2000 To the Banks and Financial Institutions Listed on Schedule 1 Hereto Re: Credit Agreement dated as of June 24, 1999 (as amended to date, the "Credit Agreement") among Titan Exploration, Inc., as Borrower ("Borrower"), Chase Bank of Texas, National Association, as Agent, and the Lenders Signatory Thereto Ladies and Gentlemen: Reference is made to the Credit Agreement for the meanings of terms defined therein which, unless otherwise defined in this letter, shall have the same meanings when used herein. Last December, Agent and Lenders agreed with Borrower to extend the Maturity Date under the Credit Agreement to April 1, 2001. Borrower now requests Lenders' and Agent's agreement that the term "Maturity Date" in the Credit Agreement will hereafter refer to July 1, 2001 rather than April 1, 2001. Please execute a copy of this letter in the space provided below to evidence this requested agreement. Thank you very much for your cooperation. Yours truly, TITAN EXPLORATION, INC. By:/s/ John L. Benfatti -------------------- Name: John L. Benfatti Title: Vice President - Accounting & Controller AGREED TO as of the date first written above: CHASE BANK OF TEXAS, NATIONAL ASSOCIATION Individually, as Issuing Bank, and as Administrative Agent By: /s/ Robert C. Mertensotto -------------------------- Name: Robert C. Mertensotto Title: Managing Director FIRST UNION NATIONAL BANK, Individually and as Documentation Agent By: /s/ David Humphreys -------------------- Name: David Humphreys Title: Vice President MORGAN GUARANTY TRUST COMPANY OF NEW YORK, Individually and as Syndication Agent By: /s/ Colleen Galle ------------------ Name: Colleen Galle Title: Vice President CREDIT LYONNAIS NEW YORK BRANCH By: /s/ Philippe Soustra --------------------- Name: Philippe Soustra Title: Senior Vice President BANK ONE, TEXAS, N.A. By: /s/ Wm. Mark Cranmer --------------------- Name: Wm. Mark Cranmer Title: Vice President PARIBAS By: /s/ Brian Malone ----------------- Name: Brian Malone Title: Director UNION BANK OF CALIFORNIA, N.A. By: /s/ Gary Shekerjian -------------------- Name: Gary Shekerjian Title: Vice President SCHEDULE 1 Chase Bank of Texas, N.A. One Chase Manhattan Plaza, 8th Floor New York, NY 10081 Attention: Muniram Appanna Agency Services First Union National Bank c/o First Union Corporation 1001 Fannin Street, Suite 2255 Houston, Texas 77002-6709 Attention: Ms. Vicki Crispens Morgan Guaranty Trust Company of New York 60 Wall Street New York, New York 10260 Attention: Phillip McNeal Credit Lyonnais New York Branch c/o Credit Lyonnais Houston Representative Office 1000 Louisiana, Suite 5360 Houston, Texas 77002 Attention: John M. Falbo Bank One, Texas, N.A. 1717 Main Street Dallas, Texas 75201 Attention: Mark Cranmer Paribas 1200 Smith Street, Suite 3100 Houston, Texas 77002 Attention: Brian Malone Union Bank of California, N.A. 4200 Lincoln Plaza 500 North Akard Dallas, Texas 75201 Attention: Gary Shekerjian cc: Chase Securities, Inc. 707 Travis Street, 5N86 Houston, Texas 77002 Attention: Robert C. Mertensotto