Amended And Restated Credit Agreement

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT [US/Canada Facilities]

 

[US/Canada Facilities]
     THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) dated as of the 31st day of July, 2007, by and among PLAINS ALL AMERICAN PIPELINE, L.P. (“US Borrower”), PMC (NOVA SCOTIA) COMPANY and PLAINS MARKETING CANADA, L.P. (each an “Original Canadian Borrower” and collectively, “Original Canadian Borrowers”), RANGELAND PIPELINE COMPANY, a Nova Scotia unlimited liability company (“Rangeland”, and together with Original Canadian Borrowers, “Canadian Borrowers”), BANK OF AMERICA, N.A., as Administrative Agent, BANK OF AMERICA, N.A., acting through its Canada Branch, as Canadian Administrative Agent, and the Lenders party hereto.
W I T N E S S E T H:
     WHEREAS, US Borrower, Original Canadian Borrowers, Administrative Agent, Canadian Administrative Agent and the Lenders named therein entered into that certain Second Amended and Restated Credit Agreement [US/Canada Facilities] dated as of July 31, 2006 (the “Original Agreement”) for the purposes and consideration therein expressed; and
     WHEREAS, US Borrower, Canadian Borrowers, Administrative Agent, Canadian Administrative Agent and Lenders desire to amend the Original Agreement for the purposes described herein;
     NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and in the Original Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:
ARTICLE I. — Definitions and References
     § 1.1. Terms Defined in the Original Agreement. Unless the context otherwise requires or unless otherwise expressly defined herein, the terms defined in the Original Agreement shall have the same meanings whenever used in this Amendment.
     § 1.2. Other Defined Terms. Unless the context otherwise requires, the following terms when used in this Amendment shall have the meanings assigned to them in this § 1.2.
     “Amendment” means this First Amendment to Credit Agreement.
     “Credit Agreement” means the Original Agreement as amended hereby.
ARTICLE II. — Amendments
     § 2.1. Definitions.
     (a) The definition of “Canadian Borrowers” set forth in Section 1.1 of the Original Agreement is hereby amended in its entirety to read as follows:

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     “Canadian Borrowers” means collectively, until termination of US Borrower’s right to allocate a portion of the US Total Committed Amount as the Canadian Allocated Total Commitment, PMC (Nova Scotia) Company, a Nova Scotia unlimited liability company, Plains Marketing Canada, L.P., an Alberta limited partnership, and Rangeland Pipeline Company, a Nova Scotia unlimited liability company; “Canadian Borrower” means, individually, any of such Persons.
The definition of “Change of Control” set forth in Section 1.1 of the Original Agreement is hereby amended by adding the following paragraph at the end thereof:
Notwithstanding the foregoing, no Change of Control shall be deemed to have occurred in connection with, or as a result of, a direct or indirect restructuring or reorganization of the General Partner, any related securitization of the direct or indirect equity interests in the General Partner, and any one or more sales of direct or indirect equity interests in the General Partner, either through public or private sales of such equity interests, if GP LLC retains direct or indirect control over the General Partner.
     Clause (ii)(a) of the definition of “Consolidated Tangible Net Worth” set forth in Section 1.1 of the Original Agreement is hereby amended in its entirety to read as follows:
(a) US Borrower’s Consolidated liabilities (excluding (1) liabilities of Unrestricted Subsidiaries, to the extent included therein, and (2) Hybrid Securities up to an aggregate amount of 15% of Consolidated Total Capitalization) as determined in accordance with GAAP
     The definition of “Restriction Exception” set forth in Section 1.1 of the Original Agreement is hereby amended by deleting “and” immediately prior to clause (viii) thereof, adding “; and” immediately following clause (viii) thereof, and adding a new clause (ix) at the end thereof, to read as follows:
(ix) Hybrid Securities or an indenture, document, agreement or security entered into or issued in connection with a Hybrid Security or otherwise constituting a restriction or condition on the payment of dividends or distributions by an issuer of a Hybrid Security.
     (b) Section 1.1 of the Original Agreement is hereby amended by adding the following new defined terms in the proper alphabetical order therein:
     “Consolidated Net Worth” means, at any date of determination, the sum of (i) preferred stock (if any), (ii) par value of common stock, (iii) capital in excess of par value of common stock, (iv) partners’ capital or equity, and (v) retained earnings, less treasury stock (if any), of such Person, all as determined on a consolidated basis.
     “Consolidated Total Capitalization” means the sum of (i) Consolidated Funded Indebtedness and (ii) Borrower’s Consolidated Net Worth.
     “Hybrid Securities” means any trust preferred securities, or deferrable interest subordinated debt with a maturity of at least 20 years, which provides for the optional or mandatory deferral of interest or distributions, issued by US Borrower, or any business trusts, limited liability companies, limited partnerships or similar entities (i) substantially

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all of the common equity, general partner or similar interests of which are owned (either directly or indirectly through one or more wholly owned Restricted Subsidiaries) at all times by US Borrower or any of its Restricted Subsidiaries, (ii) that have been formed for the purpose of issuing trust preferred securities or deferrable interest subordinated debt, and (iii) substantially all the assets of which consist of (A) subordinated debt of US Borrower or a Restricted Subsidiary of US Borrower, and (B) payments made from time to time on the subordinated debt.
     § 2.2. Debt Coverage Ratio. The first paragraph of Section 7.8 of the Original Agreement is hereby amended in its entirety, to read as follows:
     Section 7.8. Debt Coverage Ratio. At the end of any Fiscal Quarter, the Debt Coverage Ratio will not be greater than the amount set forth below for the applicable time set forth below:
         
(i)
  During an Acquisition Period:   5.50 to 1.0
 
       
(ii)
  Other than an Acquisition Period:   4.75 to 1.0
Section 7.8 of the Original Agreement is further amended by adding the following new paragraph at the end thereof:
In addition, for purposes of this Section 7.8, Hybrid Securities up to an aggregate principal amount of 15% of Consolidated Total Capitalization shall be excluded from Consolidated Funded Indebtedness.
     § 2.3. Extension of Maturity Date. Borrower has, pursuant to Section 2.1(f) of the Credit Agreement, requested a one-year extension of the Maturity Date. Each Lender a party hereto hereby consents to a one-year extension of the Maturity Date to July 27, 2012.
     § 2.4. Additional Canadian Borrower. Rangeland is hereby added as an additional Canadian Borrower under the Credit Agreement, any reference to “Canadian Borrower” in any Loan Document shall hereinafter refer to each Original Canadian Borrower and Rangeland, any reference to “either Canadian Borrower” in any Loan Document shall be deemed to refer to “any Canadian Borrower”, and any reference to “neither Canadian Borrower” in any Loan Document shall be deemed to refer to “no Canadian Borrower”. Rangeland hereby agrees that by the execution and delivery hereof, Rangeland becomes a Canadian Borrower under the Credit Agreement and the Loan Documents as of the date hereof and agrees to be bound by all of the terms thereof. Rangeland further agrees from time to time, upon request of the Administrative Agent, to take such additional actions and to execute and deliver such additional documents and instruments as the Administrative Agent may request to effect its joinder as a new Canadian Borrower, the transactions contemplated hereby, and to carry out the intent hereof. Any notice or other communication required or permitted to be given shall be given pursuant to Section 10.3 of the Credit Agreement, and for all purposes thereof, the notice address of Rangeland shall be the address of the Canadian Borrowers set forth in Schedule 10.3 to the Credit Agreement.

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ARTICLE III. — Conditions of Effectiveness
         § 3.1. Effective Date. This Amendment shall become effective as of the date first written above, when and only when
     (a) Administrative Agent shall have received, at Administrative Agent’s office a counterpart of this Amendment executed and delivered by US Borrower, Canadian Borrowers and Majority Lenders;
     (b) Administrative Agent shall have additionally received all of the following documents, each document (unless otherwise indicated) being dated the date of receipt thereof by Administrative Agent, duly authorized, executed and delivered, and in form and substance satisfactory to Administrative Agent:
     (i) Canadian Notes made by Rangeland and payable to the order of each Canadian Lender in the amount of such Canadian Lender’s Maximum Canadian Allocated Commitment.
     (ii) A certificate of a Responsible Officer of GP LLC regarding Section 4.1(a) hereof.
     (iii) Omnibus Certificate of the secretary or assistant secretary and any vice president of Rangeland, which shall contain the names and signatures of the officers of Rangeland authorized to execute Loan Documents and which shall certify to the truth, correctness and completeness of the following exhibits attached thereto: (1) a copy of resolutions duly adopted by the board of directors of Rangeland and in full force and effect at the time this Amendment is entered into, authorizing the execution of this Amendment, the Canadian Notes and the other Loan Documents delivered or to be delivered in connection herewith and the consummation of the transactions contemplated herein, (2) a copy of the charter documents of Rangeland and all amendments thereto, certified by the appropriate official of its jurisdiction of organization, and (3) a copy of the articles of association of Rangeland.
     (iv) Favorable opinions of Tim Moore, Esq., General Counsel for Restricted Persons, substantially in the form set forth in Exhibit E-1, Fulbright & Jaworski L.L.P., special Texas and New York counsel to Restricted Persons, substantially in the form set forth in Exhibit E-2, and Bennett Jones LLP, special Canadian Counsel for Restricted Persons, substantially in the form set forth in Exhibit E-3.
     (v) Such supporting documents as Administrative Agent may reasonably request.
ARTICLE IV. — Representations and Warranties
         § 4.1. Representations and Warranties of Borrowers. In order to induce Administrative Agent and Lenders to enter into this Amendment, US Borrower and, with respect to itself and its Subsidiaries, the Canadian Borrowers, represent and warrant to Administrative Agent and each Lender that:

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     (a) The representations and warranties contained in Article V of the Original Agreement are true and correct at and as of the time of the effectiveness hereof, except to the extent that such representation and warranty was made as of a specific date or updated, modified or supplemented as of a subsequent date with the consent of Majority Lenders, then in each case such other date. No Default or Event of Default exists as of the date hereof and after giving effect hereto. No Material Adverse Change has occurred since December 31, 2006.
     (b) Each Restricted Person is duly authorized to execute and deliver this Amendment, to the extent a party hereto, and US Borrower and each Canadian Borrower is and will continue to be duly authorized to borrow and perform its obligations under the Credit Agreement. Each Restricted Person a party hereto has duly taken all action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of its obligations hereunder.
     (c) The execution and delivery by each Restricted Person of this Amendment, to the extent a party hereto, the performance by it of its obligations hereunder, and the consummation of the transactions contemplated hereby, do not and will not (i) violate any provision of any Law applicable to it or of the organizational documents of such Restricted Person, or of any judgment, order or material license or permit applicable to or binding upon any Restricted Person, (ii) result in the acceleration of any Indebtedness owed by it, or (iii) result in the creation of any consensual Lien upon any of its material assets or properties of any Restricted Person, except Permitted Liens, or , without duplication, as expressly contemplated in, or permitted by, the Loan Documents. Except for those which have been duly obtained, or, without duplication, as are expressly contemplated in , or permitted by the Loan Documents, disclosed in the Disclosure Schedule or disclosed pursuant to Section 6.4 of the Credit Agreement, no consent, approval, authorization or order of any Governmental Authority is required on the part of any Restricted Person a party thereto pursuant to the provisions of any material Law applicable to it as a condition to its execution and delivery by each Restricted Person of this Amendment and the performance of its obligations hereunder, to the extent a party hereto, or to consummate the transactions contemplated hereby.
     (d) When duly executed and delivered, this Amendment and each of the Loan Documents, as amended hereby, will be a legal and binding instrument and agreement of each Restricted Person to the extent a party hereto, enforceable in accordance with its terms, (subject, as to enforcement of remedies, to applicable bankruptcy, insolvency and similar laws applicable to creditors’ rights generally and general principles of equity).
ARTICLE V. — Miscellaneous
         § 5.1. Ratification of Agreements. The Original Agreement, as hereby amended, is hereby ratified and confirmed in all respects. The Loan Documents, as they may be amended or affected by this Amendment, are hereby ratified and confirmed in all respects by US Borrower and each Canadian Borrower. Any reference to the Credit Agreement in any Loan Document shall be deemed to refer to this Amendment also. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of Administrative Agent or any Lender under the Credit Agreement or any

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other Loan Document nor constitute a waiver of any provision of the Credit Agreement or any other Loan Document.
         § 5.2. Ratification of Security Documents. Borrowers, Administrative Agent, Canadian Administrative Agent and Lenders each acknowledges and agrees that any and all Obligations, including Canadian Loans to Rangeland, are guarantied by the respective Guarantors.
         § 5.3. Survival of Agreements. All representations, warranties, covenants and agreements of each Restricted Person a party hereto shall survive the execution and delivery of this Amendment and the performance hereof, including without limitation the making or granting of each Loan, and shall further survive until all of the Obligations under the Credit Agreement are paid in full. All statements and agreements contained in any certificate or instrument delivered by any Restricted Person hereunder or under the Credit Agreement to Administrative Agent or any Lender shall be deemed to constitute representations and warranties by, or agreements and covenants of, Borrower and each Canadian Borrower under this Amendment and under the Credit Agreement.
         § 5.4. Loan Documents. This Amendment is a Loan Document, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto.
         § 5.5. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA IN ALL RESPECTS, INCLUDING CONSTRUCTION, VALIDITY AND PERFORMANCE.
         § 5.6. Counterparts. This Amendment may be separately executed in counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same Amendment. Delivery of an executed signature page by facsimile transmission shall be effective as delivery of a manual executed counterpart.

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     IN WITNESS WHEREOF, this Amendment is executed as of the date first above written.
         
US BORROWER: PLAINS ALL AMERICAN PIPELINE, L.P.
 
 
  By:   PLAINS AAP, L.P.,    
    its general partner   
       
  By:   PLAINS ALL AMERICAN GP LLC,  
    its general partner   
       
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President - Finance and Treasurer   
 
 
CANADIAN BORROWERS: PMC (NOVA SCOTIA) COMPANY
 
  By:   /s/ Al Swanson    
    Al Swanson, Vice President and Treasurer   
       
 
  PLAINS MARKETING CANADA, L.P.
 
 
  By:   PMC (Nova Scotia) Company,    
    its general partner   
       
  By:   /s/ Al Swanson    
    Al Swanson, Vice President and Treasurer   
       
 
  RANGELAND PIPELINE COMPANY
 
 
  By:   /s/ Al Swanson    
    Al Swanson, Vice President -- Finance and Treasurer   
 
     
GUARANTOR: PLAINS ALL AMERICAN PIPELINE, L.P. 
     
  By:   PLAINS AAP, L.P., its general partner    
     
       
  By:   PLAINS ALL AMERICAN GP LLC,  
    its general partner   
       
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President - Finance and Treasurer   

1


 

         
  BANK OF AMERICA, N.A.,
Administrative Agent
 
 
  By:   /s/ Todd Mac Neil    
    Name:   Todd Mac Neil   
    Title:   Vice President   
 
         
  BANK OF AMERICA, N.A., a Lender
 
 
  By:   /s/ Christen A. Lacey    
    Name:   Christen A. Lacey   
    Title:   Principal   
 
         
  BANK OF AMERICA, N.A.,
acting through its Canada Branch,
as Canadian Administrative Agent
and a Canadian Lender
 
 
  By:   /s/ Medina Sales de Andrade    
    Name:   Medina Sales de Andrade   
    Title:   Vice President   
 

2


 

         
  WACHOVIA BANK, NATIONAL
ASSOCIATION,
Co-Syndication Agent and a Lender
 
 
  By:   /s/ Shawn Young    
    Name:   Shawn Young   
    Title:   Vice President   
 
         
  WACHOVIA CAPITAL FINANCE
CORPORATION (CANADA), a Canadian Lender
 
 
  By:   /s/ Raymond N. Eghobamien    
    Name:   Raymond N. Eghobamien   
    Title:   Vice President   

3


 

         
         
  JPMORGAN CHASE BANK, N.A.,
Co-Syndication Agent and a Lender
 
 
  By:   /s/Tara Narasiman    
    Name:   Tara Narasiman   
    Title:   Associate   
 
  JPMORGAN CHASE BANK, N.A.,
TORONTO BRANCH,
a Canadian Lender
 
 
  By:   /s/ Tara Narasiman    
    Name:   Tara Narasiman   
    Title:   Associate   
 

4


 

         
  CITIBANK, N.A.,
Co-Documentation Agent and a Lender
 
 
  By:   /s/ Todd Mogil    
    Name:   Todd Mogil   
    Title:   Attorney-in-fact   
 
  CITIBANK, N.A., Canadian branch,
a Canadian Lender
 
 
  By:   /s/ Sheryl Holmes    
    Name:   Sheryl Holmes   
    Title:   Authorized Signer   

5


 

         
         
  THE BANK OF NOVA SCOTIA,
Co-Documentation Agent and a Lender
 
 
  By:   /s/ D. Mills    
    Name:   D. Mills   
    Title:   Director   
 
  THE BANK OF NOVA SCOTIA,
a Canadian Lender
 
 
  By:   /s/ Stacey Strike    
    Name:   Stacey Strike   
    Title:   Director   
 

6


 

         
  FORTIS CAPITAL CORP.,
Co-Documentation Agent and a Lender
 
 
  By:   /s/ David Montgomery    
    Name:   David Montgomery   
    Title:   Senior Vice President   
 
     
  By:   /s/ Darrell Holley    
    Name:   Darrell Holley   
    Title:   Managing Director   
 
  FORTIS CAPITAL (CANADA) LTD.,
a Canadian Lender
 
 
  By:   /s/ Doug Clark    
    Name:   Doug Clark   
    Title:   SVP, Global Oil & Gas   
 
     
  By:   /s/ Darrell Holley    
    Name:   Darrell Holley   
    Title:   Managing Director   
 

7


 

         
  UBS AG, CANADA BRANCH,
a Canadian Lender
 
 
  By:   /s/ Amy Fung    
    Name:   Amy Fung   
    Title:   Director   
 
     
  By:   /s/ Stephen Gerry    
    Name:   Stephen Gerry   
    Title:   Director   
 

8


 

         
  BNP PARIBAS,
Co-Documentation Agent and a Lender
 
 
  By:   /s/ Edward K. Chin    
    Name:   Edward K. Chin   
    Title:   Managing Director   
 
     
  By:   /s/ Richard J. Wernli    
    Name:   Richard J. Wernli   
    Title:   Director   
 
  BNP PARIBAS CANADA, a Canadian Lender
 
 
  By:   /s/ Edward Pak    
    Name:   Edward Pak   
    Title:   Vice President   
 
     
  By:   /s/ Michael Gosselin    
    Name:   Michael Gosselin   
    Title:   Managing Director   

9


 

         
         
  SUNTRUST BANK,
Co-Documentation Agent and a Lender
 
 
  By:   /s/ Yann Pirio    
    Name:   Yann Pirio   
    Title:   Vice President   
 

10


 

         
  DNB NOR BANK ASA,
Managing Agent and a Lender
 
 
  By:   /s/ Philip F. Kurpiewski    
    Name:   Philip F. Kurpiewski   
    Title:   Senior Vice President   
 
     
  By:   /s/ Jack Sun    
       
    Name:   Jack Sun  
    Title:   Vice President   
 

11


 

         
  WELLS FARGO BANK, N.A.
Managing Agent and a Lender
 
 
  By:   /s/ Charles W. Randall    
    Name:   Charles W. Randall   
    Title:   Vice President   
 

12


 

         
  THE BANK OF TOKYO-MITSUBISHI UFJ,
LTD., Managing Agent and a Lender
 
 
  By:   /s/ Takatoshi Haruna    
    Name:   Takatoshi Haruna   
    Title:   General Manager   
 

13


 

         
  SUMITOMO MITSUI BANKING
CORPORATION, Managing Agent and a Lender
 
 
  By:   /s/ David Buck    
    Name:   David Buck   
    Title:   Senior Vice President   
 

14


 

         
  COMERICA BANK,
a Lender
 
 
  By:   /s/ Josh Strong    
    Name:   Josh Strong   
    Title:   Assistant Vice President   
 
  COMERICA BANK, CANADA BRANCH,
a Lender
 
 
  By:   /s/ Omer Ahmed    
    Name:   Omer Ahmed   
    Title:   Portfolio Manager   
 

15


 

         
  BMO CAPITAL MARKETS FINANCING, INC.,
a Lender
 
 
  By:   /s/ Cahal Carmody    
    Name:   Cahal Carmody   
    Title:   Vice President   
 
         
  BANK OF MONTREAL, a Lender
 
 
  By:   /s/ Cahal Carmody    
    Name:   Cahal Carmody   
    Title:   Vice President   
 

16


 

         
  UNION BANK OF CALIFORNIA, N.A.,
a Lender
 
 
  By:   /s/ Daniel A. Davis    
    Name:   Daniel A. Davis   
    Title:   Vice President   
 
  UNION BANK OF CALIFORNIA, N.A.,
CANADA BRANCH, a Lender
 
 
  By:   /s/ Larry Sagriff    
    Name:   Larry Sagriff   
    Title:   Vice President   
 

17


 

         
  ROYAL BANK OF CANADA,
a Lender
 
 
  By:   /s/ David A. McCluskey    
    Name:   David A. McClusky   
    Title:   Authorized Signatory   
 

18


 

         
  SOCIETE GENERALE,
a Lender
 
 
  By:   /s/ Emmanuel Chesneau    
    Name:   Emmanuel Chesneau   
    Title:   Managing Director   
 
     
  By:   /s/ Chung – Taek Oh    
    Name:   Chung – Taek Oh  
    Title: Vice President   
 
         
  SOCIETE GENERALE (CANADA)
 
 
  By:   /s/ Charles Blue    
    Name:   Charles Blue   
    Title:   Director   
 
     
  By:   /s/ Michael Rudanyez    
    Name:   Michael Rudanyez   
    Title:   Vice President   
 

19


 

         
  HSBC BANK USA, NATIONAL ASSOCIATION
a Lender
 
 
  By:   /s/ Mercedes Ahumada    
    Name:   Mercedes Ahumada   
    Title:   Assistant Vice President   
 
  HSBC BANK USA, NATIONAL ASSOCIATION,
TORONTO BRANCH, a Canadian Lender
 
 
  By:   /s/ Maya Cukierman    
    Name:   Maya Cukierman   
    Title:   Authorized Signatory   

20


 

         
         
  U.S. BANK NATIONAL ASSOCIATION,
a Lender
 
 
  By:   /s/ Heather A. Han    
    Name:   Heather A. Han   
    Title:   Assistant Vice President   
 

21


 

         
  ING CAPITAL LLC, a Lender
 
 
  By:   /s/ Cheryl Labelle    
    Name:   Cheryl Labelle   
    Title:   Managing Director   
 

22


 

         
  BAYERISCHE LANDESBANK,
CAYMAN ISLANDS BRANCH, a Lender
 
 
  By:   /s/ Craig Anderson    
    Name:   Craig Anderson   
    Title:   First Vice President   
 
     
  By:   /s/ Donna M. Quilty    
    Name:   Donna M. Quilty   
    Title:   Vice President   
 

23


 

         
  MIZUHO CORPORATE BANK, LTD., a Lender
 
 
  By:   /s/ Hidekatsu Take    
    Name:   Hidekatsu Take   
    Title:   Deputy General Manager   
 

24


 

         
  COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES, a Lender
 
 
  By:   /s/ Andrew Campbell    
    Name:   Andrew Campbell   
    Title:   Senior Vice President   
 
     
  By:   /s/ Barbara Stacks    
    Name:   Barbara Stacks   
    Title:   Assistant Vice President   
 

25


 

         
  AMEGY BANK NATIONAL ASSOCIATION,
a Lender
 
 
  By:   /s/ Mark A. Serice    
    Name:   Mark A. Serice   
    Title:   Vice President   
 

26


 

CONSENT AND AGREEMENT
     Each of the undersigned Guarantors hereby consents to the provisions of this Amendment and the execution and delivery of Canadian Notes by Rangeland, and the transactions contemplated herein and therein and hereby and thereby (i) acknowledges and agrees that any and all indebtedness, liabilities or obligations of US Borrower and each Canadian Borrower, including Rangeland, arising under or in connection with the Credit Agreement and the Notes, including Canadian Notes issued by Rangeland, are Obligations and are guarantied indebtedness under such Guarantor’s Guaranty, (ii) ratifies and confirms its Guaranty made by it for the benefit of Administrative Agent and Lenders, and (iii) expressly acknowledges and agrees that such Guarantor guarantees all indebtedness, liabilities and obligations of US Borrower and each Canadian Borrower, including Rangeland, arising under or in connection with the Credit Agreement and the Notes, including Canadian Notes issued by Rangeland, pursuant to the terms of such Guaranty, and agrees that its obligations and covenants thereunder are unimpaired hereby and shall remain in full force and effect.
         
  PLAINS MARKETING, L.P.
PLAINS PIPELINE, L.P.
 
 
  By:   PLAINS MARKETING GP INC.,    
    its general partner   
       
 
     
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer   
 
         
  PAA FINANCE CORP.
PLAINS MARKETING GP INC.
PMC (NOVA SCOTIA) COMPANY
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer
 
  PLAINS MARKETING CANADA LLC
 
 
 
  By:   PLAINS MARKETING, L.P., its sole member     
 
     
  By:   PLAINS MARKETING GP INC.,    
    its general partner   
       
 
     
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer   
 
         

27


 

         
  PLAINS MARKETING CANADA, L.P.
 
 
  By:   PMC (NOVA SCOTIA) COMPANY,    
    its general partner   
       
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer   
 
  BASIN PIPELINE HOLDINGS, L.P.
 
 
  By:   Basin Holdings GP LLC, its general partner    
     
  By:   Plains Pipeline, L.P., its sole member    
     
  By:   Plains Marketing GP Inc., its general partner   
     
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer   
 
  RANCHO PIPELINE HOLDINGS, L.P.
 
 
  By:   Rancho Holdings GP LLC,    
    its general partner   
     
  By:   Plains Pipeline, L.P., its sole member    
 
  By:   Plains Marketing GP Inc., its general partner    
       
     
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer   
 
  BASIN HOLDINGS GP LLC
RANCHO HOLDINGS GP LLC
 
 
  By:   Plains Pipeline, L.P., its sole member    
       
  By:   Plains Marketing GP Inc., its general partner    
     
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer   

28


 

         
     
  PLAINS LPG SERVICES GP LLC
 
 
 
  By:   Plains Marketing, L.P. its Sole Member    
 
     
  By:   Plains Marketing GP Inc.,    
    Its General Partner   
       
 
     
         
    By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer   
         
 
  PLAINS LPG SERVICES, L.P.
 
 
  By:   Plains LPG Services GP LLC,    
    Its General Partner   
       
 
     
  By:   Plains Marketing, L.P., its Sole Member    
       
       
 
     
  By:   Plains Marketing GP Inc.,    
    Its General Partner   
       
 
     
         
    By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer
         
  LONE STAR TRUCKING, LLC    
  By:   Plains LPG Services, L.P., Its Sole Member    
 
     
  By:   Plains LPG Services GP LLC,    
    Its General Partner   
       
 
     
  By:   Plains Marketing, L.P., its Sole Member    
       
       
 
     
  By:   Plains Marketing GP Inc.,    
    Its General Partner   
       
 
         
    By:   /s/ Al Swanson    
    Al Swanson   
    Vice President and Treasurer

29


 

         
         
  PLAINS MARKETING INTERNATIONAL GP LLC, a Delaware limited liability company    
     
     
  By:   Plains Marketing, L.P., its Sole Member    
 
     
  By:   Plains Marketing GP Inc., its General Partner    
 
    By:   /s/ Al Swanson  
      Al Swanson 
      Vice President and Treasurer 
 
         
  PLAINS MARKETING INTERNATIONAL LP,
a Texas limited partnership
 
 
  By:   Plains Marketing International GP LLC,    
    its General Partner   
     
  By:   Plains Marketing, L.P., its Sole Member    
       
     
  By:   Plains Marketing GP Inc., its General Partner    
     
    By:   /s/ Al Swanson    
      Al Swanson   
      Vice President and Treasurer   
         
  PLAINS LPG MARKETING LP,
a Texas limited partnership
 
 
  By:   Plains LPG Services GP LLC,    
    its General Partner   
     
  By:   Plains Marketing, L.P., its Sole Member    
       
  By:   Plains Marketing GP Inc., its General Partner    
       
 
    By:   /s/ Al Swanson  
      Al Swanson   
      Vice President and Treasurer   
 

30


 

         
  PEG CANADA GP LLC
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  PACIFIC ENERGY GROUP LLC
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  PEG CANADA, L.P.
 
 
  By:   PEG Canada GP LLC,    
    its general partner   
       
 
     
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  PACIFIC MARKETING AND TRANSPORTATION LLC
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  ROCKY MOUNTAIN PIPELINE SYSTEM LLC
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 

31


 

         
  RANCH PIPELINE LLC
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  PACIFIC ATLANTIC TERMINALS LLC
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  PACIFIC L.A. MARINE TERMINAL LLC
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  RANGELAND PIPELINE COMPANY
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  AURORA PIPELINE COMPANY LTD.
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 

32


 

         
  RANGELAND PIPELINE PARTNERSHIP
 
 
  By:   Rangeland Pipeline Company,    
    its managing partner   
       
 
     
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  RANGELAND NORTHERN PIPELINE
COMPANY
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  RANGELAND MARKETING COMPANY
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 
         
  PACIFIC ENERGY FINANCE CORPORATION
 
 
  By:   /s/ Al Swanson    
    Al Swanson   
    Vice President- Finance and Treasurer   
 

33