Amendment No. 1 to Senior Credit Facility
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EX-10.9 5 h47329a2exv10w9.htm AMENDMENT NO. 1 TO SENIOR CREDIT FACILITY exv10w9
Exhibit 10.9
AMENDMENT No. 1
dated as of March 7, 2007
to the SENIOR CREDIT AGREEMENT
dated as of November 21, 2006
among
SANDRIDGE ENERGY, INC.
as the Borrower,
as the Borrower,
BANK OF AMERICA, N.A.,
as Administrative Agent, Swing Line Lender and L/C Issuer
as Administrative Agent, Swing Line Lender and L/C Issuer
and
The Other Lenders Party Thereto
BANK OF AMERICA SECURITIES LLC,
Sole Lead Arranger and Sole Book Manager
Sole Lead Arranger and Sole Book Manager
AMENDMENT NO. 1 TO CREDIT AGREEMENT
AMENDMENT dated as of March 7, 2007 to the Senior Credit Agreement dated as of November 21, 2006 (as amended, restated, supplemented, or otherwise modified from time to time, the Credit Agreement) among SANDRIDGE ENERGY, INC., a Delaware corporation (the Borrower), each LENDER from time to time party thereto and BANK OF AMERICA, N.A., as Administrative Agent (the Administrative Agent), Swing Line Lender and L/C Issuer.
W I T N E S S E T H:
WHEREAS, the parties hereto desire to amend the Credit Agreement as set forth herein;
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 7.03 of the Credit Agreement is amended by deleting Section 7.03(b) in its entirety and by substituting in lieu thereof the new Section 7.03(b) to read in its entirety as follows:
(b) Indebtedness in respect of the Bridge Facility and any refinancing thereof, provided that (i) the principal amount of such Indebtedness is not increased at the time of such refinancing by more than $150,000,000, and (ii) such refinancing (A) is unsecured, (B) requires no scheduled amortization prior to the 6th anniversary of the Closing Date and (C) is otherwise on market terms and conditions;
Section 3. Representations of the Borrower. The Borrower represents and warrants that, after giving effect to this Amendment, (i) the representations and warranties of the Borrower set forth in Article V of the Credit Agreement will be true and (ii) no Default will have occurred and be continuing.
Section 4. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York.
Section 5. 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.
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Section 6. Effectiveness. This Amendment shall become effective on the date on which the Administrative Agent shall have received counterparts hereof signed by each of the Required Lenders and the Borrower (or, in the case of any party as to which an executed counterpart shall not have been received, receipt by the Administrative Agent in form satisfactory to it of telegraphic, telex or other written confirmation from such party of execution of a counterpart hereof by such party).
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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.
BORROWER SANDRIDGE ENERGY, INC. | ||||
By: | /s/ Dirk M. Van Doren | |||
Name: | Dirk M. Van Doren | |||
Title: | Chief Financial Officer | |||
LENDERS BANK OF AMERICA, N.A., as Lender | ||||
By: | /s/ Charles W. Patterson | |||
Name: | Charles W. Patterson | |||
Title: | Managing Director | |||
UNION BANK OF CALIFORNIA, N.A. | ||||
By: | /s/ Whitney Randolph | |||
Name: | Whitney Randolph | |||
Title: | Investment Banking Officer | |||
ROYAL BANK OF CANADA | ||||
By: | /s/ Don J. McKinnerney | |||
Name: | Don J. McKinnerney | |||
Title: | Authorized Signatory | |||
BARCLAYS BANK PLC | ||||
By: | /s/ Nicholas Bell | |||
Name: | Nicholas Bell | |||
Title: | Director | |||
[Signature Page to Amendment No. 1
to the
Senior Credit Agreement]
to the
Senior Credit Agreement]
CREDIT SUISSE, CAYMAN ISLANDS BRANCH | ||||
By: | /s/ Vanessa Gomez | |||
Name: | Vanessa Gomez | |||
Title: | Vice President | |||
By: | /s/ Karim Blasetti | |||
Name: | Karim Blasetti | |||
Title: | Vice President | |||
BANK OF OKLAHOMA, N.A. | ||||
By: | /s/ Mike Weatherholt | |||
Name: | Mike Weatherholt | |||
Title: | Officer | |||
COMERICA BANK | ||||
By: | /s/ Peter L. Sefzik | |||
Name: | Peter L. Sefzik | |||
Title: | Vice President | |||
THE BANK OF NOVA SCOTIA | ||||
By: | /s/ Richard Hawthorne | |||
Name: | Richard Hawthorne | |||
Title: | Director | |||
SUNTRUST BANK | ||||
By: | /s/ Sean Roche | |||
Name: | Sean Roche | |||
Title: | Vice President | |||
THE ROYAL BANK OF SCOTLAND PLC | ||||
By: | /s/ Lucy Walker | |||
Name: | Lucy Walker | |||
Title: | Vice President | |||
[Signature Page to Amendment No. 1
to the
Senior Credit Agreement]
to the
Senior Credit Agreement]
BMO CAPITAL MARKETS FINANCING, INC. | ||||
By: | /s/ James V. Ducote | |||
Name: | James V. Ducote | |||
Title: | Director | |||
AMARILLO NATIONAL BANK | ||||
By: | /s/ Sha Gearn | |||
Name: | Sha Gearn | |||
Title: | Vice President | |||
MIDFIRST BANK | ||||
By: | /s/ James P. Boggs | |||
Name: | James P. Boggs | |||
Title: | Senior Vice President | |||
U.S. BANK NATIONAL ASSOCIATION | ||||
By: | /s/ Daria M. Mahoney | |||
Name: | Daria M. Mahoney | |||
Title: | Vice President | |||
WELLS FARGO BANK, NA | ||||
By: | /s/ Dustin S. Hansen | |||
Name: | Dustin S. Hansen | |||
Title: | Vice President | |||
BANK OF SCOTLAND | ||||
By: | /s/ Karen Weich | |||
Name: | Karen Weich | |||
Title: | Vice President | |||
[Signature Page to Amendment No. 1
to the
Senior Credit Agreement]
to the
Senior Credit Agreement]
BNP PARIBAS | ||||
By: | /s/ Russell Otts | |||
Name: | Russell Otts | |||
Title: | Vice President | |||
By: | /s/ Robert Long | |||
Name: | Robert Long | |||
Title: | Vice President | |||
ALLIED IRISH BANKS P.L.C. | ||||
By: | /s/ David ODriscoll | |||
Name: | David ODriscoll | |||
Title: | Assistant Vice President | |||
By: | /s/ Aidan Lanigan | |||
Name: | Aidan Lanigan | |||
Title: | Vice President | |||
FORTIS CAPITAL CORP. | ||||
By: | /s/ Michele Jones | |||
Name: | Michele Jones | |||
Title: | Senior Vice President | |||
By: | /s/ Darrell Holley | |||
Name: | Darrell Holley | |||
Title: | Managing Director |
[Signature Page to Amendment No. 1
to the
Senior Credit Agreement]
to the
Senior Credit Agreement]
CALYON NEW YORK BRANCH | ||||
By: | /s/ Tom Byargeon | |||
Name: | Tom Byargeon | |||
Title: | Managing Director | |||
By: | /s/ Michael Willis | |||
Name: | Michael Willis | |||
Title: | Director | |||
Acknowledged by:
ADMINISTRATIVE AGENT
BANK OF AMERICA, N.A., as
Administrative Agent
Administrative Agent
By: | /s/ Suzanne M. Paul | |||
Name: | Suzanne M. Paul | |||
Title: | Vice President | |||
[Signature Page to Amendment No. 1
to the
Senior Credit Agreement]
to the
Senior Credit Agreement]