FIRST AMENDMENT TO LOAN AGREEMENT
Exhibit 10.1
This FIRST AMENDMENT (this “Amendment”) to the Loan Agreement dated as of June 1, 2010
(the “Loan Agreement”) by and between ENTERPRISE PRODUCTS OPERATING LLC, a Texas limited
liability company (“Lender”), and XXXXXX ENERGY PARTNERS L.P., a Delaware limited partnership
(“Borrower”), is made and entered into effective as of August 20, 2010, pursuant to the terms of
the Loan Agreement and in accordance with Section 14 thereof.
For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Lender and Borrower hereby agree as follows:
Section 1. AMENDMENT. Section 3 of the Loan Agreement is hereby amended and restated to read,
in its entirety, as follows:
3. Repayment of the Loan. Borrower promises to pay the outstanding principal balance
of the Loan, together with interest accrued and outstanding thereon and any other sums due
hereunder, on the earliest to occur of (a) December 31, 2010 (the “Maturity Date”), (b) the
date upon which the maturity of the Loan may have been accelerated pursuant to Section
12, or (c) the date upon which the commitment of Lender hereunder may have been
terminated pursuant to Section 13.
Section 2. RATIFICATION OF LOAN AGREEMENT. Except as expressly modified and amended herein,
all of the terms and conditions of the Loan Agreement shall remain in full force and effect.
Section 3. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.
(Signature Page Follows)
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first set
forth above.
LENDER: | ENTERPRISE PRODUCTS OPERATING LLC | |||
By: | Enterprise Products OLPGP, Inc., | |||
its managing member | ||||
By: | /s/ Xxxxxxx X. Xxxxx | |||
Xxxxxxx X. Xxxxx | ||||
President and Chief Executive Officer | ||||
BORROWER: | XXXXXX ENERGY PARTNERS L.P. | |||
By: | DEP Holdings, LLC, | |||
its general partner | ||||
By: | /s/ W. Xxxxxxx Xxxxxx | |||
W. Xxxxxxx Xxxxxx | ||||
President and Chief Executive Officer |