as the Borrower,
Lead Arranger
GOLDMAN SACHS CREDIT PARTNERS L.P.
LEHMAN BROTHERS INC.
Co-Arrangers
Section | Page | |||||
ARTICLE I. | DEFINITIONS AND ACCOUNTING TERMS | 1 | ||||
1.01 | Defined Terms | 1 | ||||
1.02 | Other Interpretive Provisions | 36 | ||||
1.03 | Accounting Terms | 37 | ||||
1.04 | Petroleum Terms | 37 | ||||
1.05 | Rounding | 37 | ||||
1.06 | Times of Day | 37 | ||||
ARTICLE II. | THE COMMITMENTS AND LOANS | 37 | ||||
2.01 | Loans | 37 | ||||
2.02 | Borrowings, Conversions and Continuations of Loans | 38 | ||||
2.03 | Prepayments | 39 | ||||
2.04 | Repayment of Loans | 40 | ||||
2.05 | Interest | 40 | ||||
2.06 | Fees | 41 | ||||
2.07 | Computation of Interest and Fees | 42 | ||||
2.08 | Evidence of Debt | 42 | ||||
2.09 | Payments Generally; Administrative Agent’s Clawback | 42 | ||||
2.10 | Sharing of Payments by Lenders | 44 | ||||
ARTICLE III. | TAXES, YIELD PROTECTION AND ILLEGALITY | 44 | ||||
3.01 | Taxes | 44 | ||||
3.02 | Illegality | 46 | ||||
3.03 | Inability to Determine Rates | 47 | ||||
3.04 | Increased Costs; Reserves on Eurodollar Rate Loans | 47 | ||||
3.05 | Compensation for Losses | 48 | ||||
3.06 | Mitigation Obligations; Replacement of Lenders | 49 | ||||
3.07 | Survival | 49 | ||||
ARTICLE IV. | CONDITIONS PRECEDENT TO LOANS | 50 | ||||
ARTICLE V. | REPRESENTATIONS AND WARRANTIES | 52 | ||||
5.01 | Existence, Qualification and Power | 52 | ||||
5.02 | Authorization; No Contravention | 52 | ||||
5.03 | Governmental Authorization; Other Consents | 52 | ||||
5.04 | Binding Effect | 53 | ||||
5.05 | Financial Statements; No Material Adverse Effect | 53 | ||||
5.06 | Litigation | 53 | ||||
5.07 | No Default | 54 | ||||
5.08 | Ownership of Property; Liens | 54 | ||||
5.09 | Environmental Compliance | 54 | ||||
5.10 | Insurance | 55 | ||||
5.11 | Taxes | 55 | ||||
5.12 | ERISA Compliance | 55 | ||||
5.13 | Subsidiaries; Equity Interests; Loan Parties | 55 | ||||
5.14 | Margin Regulations; Investment Company Act | 56 | ||||
5.15 | Disclosure | 56 | ||||
5.16 | Compliance with Laws | 56 |
i
Section | Page | |||||
5.17 | Solvency | 56 | ||||
5.18 | Casualty, Etc. | 56 | ||||
5.19 | Labor Matters | 57 | ||||
ARTICLE VI. | AFFIRMATIVE COVENANTS | 57 | ||||
6.01 | Financial Statements | 57 | ||||
6.02 | Certificates; Other Information | 58 | ||||
6.03 | Notices | 60 | ||||
6.04 | Payment of Obligations | 61 | ||||
6.05 | Preservation of Existence, Etc. | 61 | ||||
6.06 | Maintenance of Properties | 61 | ||||
6.07 | Maintenance of Insurance | 61 | ||||
6.08 | Compliance with Laws | 62 | ||||
6.09 | Books and Records | 62 | ||||
6.10 | Inspection Rights | 62 | ||||
6.11 | Use of Proceeds | 62 | ||||
6.12 | Covenant to Guarantee Obligations | 62 | ||||
6.13 | Compliance with Environmental Laws | 62 | ||||
6.14 | [Reserved] | 63 | ||||
6.15 | Exchange Notes | 63 | ||||
6.16 | Change of Control | 64 | ||||
ARTICLE VII. | NEGATIVE COVENANTS | 65 | ||||
7.01 | Liens | 65 | ||||
7.02 | Indebtedness | 65 | ||||
7.03 | Consolidation, Merger and Sale of Assets | 69 | ||||
7.04 | Asset Sales | 71 | ||||
7.05 | Restricted Payments | 72 | ||||
7.06 | Change in Nature of Business | 76 | ||||
7.07 | Transactions with Affiliates | 76 | ||||
7.08 | Burdensome Agreements | 77 | ||||
7.09 | Designation of Unrestricted Subsidiaries | 79 | ||||
7.10 | Payments for Consent | 81 | ||||
7.11 | Sale Leaseback Transactions | 81 | ||||
ARTICLE VIII. | EVENTS OF DEFAULT AND REMEDIES | 82 | ||||
8.01 | Events of Default | 82 | ||||
8.02 | Remedies Upon Event of Default | 83 | ||||
8.03 | Application of Funds | 84 | ||||
ARTICLE IX. | ADMINISTRATIVE AGENT | 84 | ||||
9.01 | Appointment and Authority | 84 | ||||
9.02 | Rights as a Lender | 84 | ||||
9.03 | Exculpatory Provisions | 85 | ||||
9.04 | Reliance by Administrative Agent | 86 | ||||
9.05 | Delegation of Duties | 86 | ||||
9.06 | Resignation of Administrative Agent | 86 | ||||
9.07 | Non-Reliance on Administrative Agent and Other Lenders | 87 | ||||
9.08 | No Other Duties, Etc. | 87 | ||||
9.09 | Administrative Agent May File Proofs of Claim | 87 | ||||
9.10 | Guaranty Matters | 88 | ||||
ARTICLE X. | MISCELLANEOUS | 88 |
ii
Section | Page | |||||
10.01 | Amendments, Etc. | 88 | ||||
10.02 | Notices; Effectiveness; Electronic Communication | 89 | ||||
10.03 | No Waiver; Cumulative Remedies | 91 | ||||
10.04 | Expenses; Indemnity; Damage Waiver | 91 | ||||
10.05 | Payments Set Aside | 93 | ||||
10.06 | Successors and Assigns | 93 | ||||
10.07 | Treatment of Certain Information; Confidentiality | 97 | ||||
10.08 | Right of Setoff | 98 | ||||
10.09 | Interest Rate Limitation | 98 | ||||
10.10 | Counterparts; Integration; Effectiveness | 98 | ||||
10.11 | Survival of Representations and Warranties | 98 | ||||
10.12 | Severability | 99 | ||||
10.13 | Replacement of Lenders | 99 | ||||
10.14 | Governing Law; Jurisdiction; Etc. | 100 | ||||
10.15 | Waiver of Jury Trial | 100 | ||||
10.16 | No Advisory or Fiduciary Responsibility | 101 | ||||
10.17 | USA PATRIOT Act Notice | 102 |
iii
SCHEDULES | ||||||
2.01 | Commitments and Applicable Percentages | |||||
5.03 | Governmental Authorizations | |||||
5.05 | Supplement to Interim Financial Statements | |||||
5.06 | Litigation | |||||
5.09 | Environmental Matters | |||||
5.13 | Subsidiaries; Other Equity Investments and Loan Parties | |||||
10.02 | Administrative Agent’s Office; Certain Addresses for Notices | |||||
10.06 | Processing and Recordation Fees | |||||
EXHIBITS | ||||||
Form of | ||||||
A | Loan Notice | |||||
B | Compliance Certificate | |||||
C | Assignment and Assumption | |||||
D | Guaranty | |||||
E | Opinion of Counsel to the Loan Parties |
iv
DEFINITIONS AND ACCOUNTING TERMS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
THE COMMITMENTS AND LOANS
37
38
Year | Redemption Price | |||
2011 | 104.313 | % | ||
2012 | 102.156 | % | ||
2013 and thereafter | 100.00 | % |
Year | Redemption Price | |||
2009 | 103.00 | % | ||
2010 | 102.00 | % | ||
2011 | 101.00 | % | ||
2012 and thereafter | 100.00 | % |
39
40
41
42
43
TAXES, YIELD PROTECTION AND ILLEGALITY
44
45
46
47
48
49
CONDITIONS PRECEDENT TO LOANS
50
51
REPRESENTATIONS AND WARRANTIES
52
53
54
55
56
AFFIRMATIVE COVENANTS
57
58
59
60
61
62
63
64
NEGATIVE COVENANTS
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
EVENTS OF DEFAULT AND REMEDIES
82
83
ADMINISTRATIVE AGENT
84
85
86
87
MISCELLANEOUS
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
SANDRIDGE ENERGY, INC. | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | President and Chief Executive Officer |
BANK OF AMERICA, N.A.,as Administrative Agent | ||||
By: | /s/ Suzanne M. Paul | |||
Name: | Suzanne M. Paul | |||
Title: | Vice President | |||
BANC OF AMERICA BRIDGE LLC,as a Lender | ||||
By: | /s/ Alysa Trakas | |||
Name: | Alysa Trakas | |||
Title: | Vice President | |||
BANC OF AMERICA SECURITIES LLC,as Lead Arranger | ||||
By: | /s/ Jeffrey J. McLane | |||
Name: | Jeffrey J. McLane | |||
Title: | Principal |
GOLDMAN SACHS CREDIT PARTNERS L.P., as Co-Arranger and a Lender | ||||
By: | /s/ Bruce H. Mendelsohn | |||
Name: | Bruce H. Mendelsohn | |||
Title: | Authorized Signatory |
LEHMAN BROTHERS INC., as Co-Arranger | ||||
By: | /s/ Timothy N. Hartzell | |||
Name: | Timothy N. Hartzell | |||
Title: | Managing Director | |||
LEHMAN COMMERCIAL PAPER INC.,as a Lender | ||||
By: | /s/ Jeff Ogden | |||
Name: | Jeff Ogden | |||
Title: | Managing Director |
DEUTSCHE BANK SECURITIES INC., as Co-Arranger | ||||
By: | /s/ Kevin M. Sherlock | |||
Name: | Kevin M. Sherlock | |||
Title: | Managing Director | |||
DEUTSCHE BANK AG, NEW YORK BRANCH, as a Lender | ||||
By: | /s/ Marguerite Sutton | |||
Name: | Marguerite Sutton | |||
Title: | Director |
Lender | Fixed Rate Commitment | Floating Rate Commitment | ||||||
Banc of America Bridge LLC | $ | 229,125,000 | $ | 123,375,000 | ||||
Deutsche Bank AG, New York Branch | $ | 149,500,000 | $ | 80,500,000 | ||||
Goldman Sachs Credit Partners L.P. | $ | 149,500,000 | $ | 80,500,000 | ||||
Lehman Commercial Paper Inc. | $ | 121,875,000 | $ | 65,625,000 | ||||
Total | $ | 650,000,000 | $ | 350,000,000 | ||||
3/15/2007 | Collateral | |||||||
SYMBOL ENERGY | ||||||||
LARCO | 2,287,129.15 | NA | ||||||
SAGEBRUSH | ||||||||
BANK OF AMERICA | 4,000,000.00 | All Bank of America cash accounts | ||||||
ROC | 3,125,000.00 | NA | ||||||
7,125,000.00 | ||||||||
SR OPERATING | ||||||||
N/P SDI | 7,970,907.91 | NA | ||||||
DAN JORDAN — AIRPLANE | 252,777.76 | |||||||
AICCO-Insurance Policies | 2,398,624.25 | NA | ||||||
AICCO-Insurance Policies | 742,885.29 | NA | ||||||
AICCO-Insurance Policies | 305,367.53 | NA | ||||||
11,670,562.74 | ||||||||
HONDO HEAVY HAUL | ||||||||
N/P JOHN DEERE | 145,631.06 | John Deere 724J Loader with 9’ Forks | ||||||
N/P PACCAR FINANCIAL | 324,179.82 | Quantity of 6 2003 Peterbilt 379-127 Vehicles | ||||||
469,810.88 | ||||||||
LARIAT | ||||||||
* | MERRILL LYNCH #1 | 13,219,174.35 | Rig #1 — Rig #7 and Ancillary Equipment | |||||
* | MERRILL LYNCH #2 | 1,662,818.55 | Rig #13 and All Associated Equipment | |||||
* | MERRILL LYNCH #3 | 3,511,600.54 | Rig #12 and All Associated Equipment | |||||
* | MERRILL LYNCH #4 | 1,811,403.86 | Rig #14 and All Associated Equipment | |||||
* | MERRILL LYNCH #5 | 791,881.95 | Service/Workover Rigs | |||||
* | MERRILL LYNCH #6 | 1,376,864.92 | Rig #15 and All Associated Equipment | |||||
* | MERRILL LYNCH #7 | 1,595,583.63 | Rig #16 and All Associated Equipment | |||||
* | MERRILL LYNCH #8 | 2,014,347.37 | Rig #19 and All Associated Equipment | |||||
* | MERRILL LYNCH #9 | 708,446.28 | Misc Trucks & Equipment |
3/15/2007 | Collateral | |||||||
* | MERRILL LYNCH #10 | 7,360,628.14 | Rig #22 and 3 Pulling Units | |||||
* | MERRILL LYNCH #11 | 5,357,528.07 | Rig #24 and All Associated Equipment | |||||
* | MERRILL LYNCH #12 | 7,566,748.67 | Rig #26 | |||||
* | MERRILL LYNCH #13 | 840,753.28 | Pulling Units 11, 12, 13, & 17 | |||||
* | MERRILL LYNCH #14 | 5,969,613.78 | Rig #28 | |||||
* | MERRILL LYNCH #15 | 5,189,799.77 | Rig #28 | |||||
DAIMLER CHRYSLER #11970 | 16,114.28 | 2005 Sterling Acterra Tractor | ||||||
DAIMLER CHRYSLER #11974 | 16,114.28 | 2005 Sterling Acterra Tractor | ||||||
N/P DIAMLER CHRYSLER #83592 | 67,667.25 | 2007 Western Star 4900 Tractor | ||||||
N/P DIAMLER CHRYSLER #83593 | 67,667.25 | 2007 Western Star 4900 Tractor | ||||||
N/P DIAMLER CHRYSLER #81856 | 29,697.81 | 2007 Sterling Acterra Tractor | ||||||
N/P DIAMLER CHRYSLER #66004 | 64,213.62 | 2007 Western Star 4900 Tractor | ||||||
N/P DIAMLERCHRYSLER #81858 | 31,071.49 | 2007 Sterling Acterra Tractor | ||||||
N/P DIAMLERCHRYSLER #81859 | 32,302.92 | 2007 Sterling Acterra Tractor | ||||||
N/P DIAMLERCHRYSLER #81860 | 32,302.82 | 2007 Sterling Acterra Tractor | ||||||
N/P DIAMLERCHRYSLER #81861 | 33,355.49 | 2007 Sterling Acterra Tractor | ||||||
N/P JOHN DEERE #2582 | 42,178.49 | 2005 330CLC Excavator | ||||||
N/P JOHN DEERE CREDIT #9496 | 32,868.06 | 850C Long Track Crawler Dozer | ||||||
N/P JOHN DEERE CREDIT #6211 | 58,960.68 | 1050C Crawler Dozer | ||||||
N/P JOHN DEERE CREDIT #2526 | 30,811.13 | 850C Long Track Crawler Dozer | ||||||
N/P JOHN DEERE CREDIT #6277 | 54,893.05 | 1050C Crawler Dozer | ||||||
N/P JOHN DEERE CREDIT #64644 | 51,827.61 | 544H Loader | ||||||
N/P JOHN DEERE CREDIT #79513 | 60,093.66 | 544H Loader | ||||||
N/P JOHN DEERE CREDIT #79321 | 45,442.63 | 544H Loader | ||||||
N/P JOHN DEERE CREDIT #87862 | 64,445.24 | 544H Loader | ||||||
JOHN DEERE CREDIT #6762 | 7,638.21 | 2005 310SG Wheel Loader Backhoe | ||||||
N/P JDC #1063 | 31,922.64 | 1 850C Dozer | ||||||
N/P JDC #78141 | 69,599.16 | 1 544H Front Loader | ||||||
N/P JDC #3935 | 68,897.03 | 724J Loader | ||||||
N/P JDC #62412,61917,01125,611051 | 461,201.24 | Backhoes,Motograders | ||||||
N/P JDC #611397,430,431,468,224 | 821,480.97 | 4 Motograders, 1 Loader | ||||||
N/P JDC | 851,073.40 | 2 dozers, 1 loader, 2 backhoes | ||||||
* | DAIMLER CHRYSLER | 608,046.72 | 15 Freightliner Trucks | |||||
GE CAPITAL CORP | 1,128,498.96 | 10 Mack Trucks | ||||||
PACCAR #24856 & #24870 | 138,899.47 | 2-2004 Peterbilts | ||||||
PACCAR | 46,516.63 | Kenworths | ||||||
PACCAR #5780267 | 274,919.05 | 2-2007 Peterbilts and 2-2004 Peterbilts | ||||||
PACCAR #5783865 | 144,622.90 | 2-2004 Peterbilts | ||||||
PACCAR | 147,347.81 | 2-2004 Peterbilts |
3/15/2007 | Collateral | |||||||
64,609,885.11 | ||||||||
* | THIS LARIAT DEBT IS GUARANTEED BY SDI | |||||||
SDI | ||||||||
BANK OF AMERICA | 225,000,000.00 | Oil & Gas Properties | ||||||
CITICAPITAL | 184,106.36 | 2 CAT Generators | ||||||
225,184,106.36 | ||||||||
* | THIS LARIAT DEBT IS GUARANTEED BY SDI | |||||||
LARCO | ||||||||
RIATA ENERGY | 5,635,243.89 | NA | ||||||
NEG | ||||||||
AICCO-Insurance Policies | 2,559,014.92 | NA | ||||||
RIAGRA | ||||||||
N/P SDI | 8,983,980.36 | NA | ||||||
ROC | ||||||||
N/P SDI | 62,333.53 | NA | ||||||
PSEC | ||||||||
N/P SDI | 31,813,722.36 | NA | ||||||
SUBORDINATED DEBT-SDI | 6,540,000.00 | NA | ||||||
38,353,722.36 | ||||||||
PSPC | ||||||||
N/P SDI | 5,902,097.77 | NA | ||||||
TOTAL | 372,842,887.07 | |||||||
LESS INTER-CO NOTES | 72,320,414.97 | |||||||
TOTAL | 300,522,472.10 |
OTHER EQUITY INVESTMENTS
AND LOAN PARTY INFORMATION
Symbol | Company Name | Address | City/State/Zip | FEIN | OWNERSHIP | |||||
SDI | SandRidge Energy, Inc. | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-8084793 | ||||||
SUBSIDIARY ENTITIES | ||||||||||
Algerita Energy, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-1400800 | 100%SDI | ||||||
SOC | SandRidge Operating Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2541245 | 100%SDI | |||||
Cup Of The Day #1, LLC | 701 S. Tyler, Ste 102 | Amarillo, TX 79201 | 13-4301747 | 100%SOC | ||||||
CSLLC | Chaparral Supply, LLC | P. O. Box 1417 | Ft. Stockton, Texas 79735 | 26-0036758 | 100%SOC | |||||
IEL | Integra Energy, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2887527 | 85%SOC | |||||
Cholla Management, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 01-0557493 | 100%IEL | ||||||
CHOLP | Cholla Pipeline, LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 26-0025092 | 36%IEL, 17%ROC | |||||
TPL | Transpecos Logging, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2897434 | 100%SOC | |||||
Black Bayou Exploration, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-4790561 | 100%SDI | ||||||
LSI | Lariat Services, Inc. | 2402 West Wall | Midland, TX 79701 | 75-2500702 | 100%SDI | |||||
LARCO | Lariat Compression Company | 5432 N. Highway 1053 | Ft. Stockton, TX 79735 | 75-2545523 | 100%LSI | |||||
SYMENE | Symbol Energy, Inc. | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-2882968 | 100%LARCO | |||||
HONDO | Hondo Heavy Haul | 13416 W. 1-20 East | Odessa, TX 79765 | 20-3568524 | 100%LSI | |||||
Larclay, GP, LLC | 701 S. Taylor, Suite 426 | Amarillo, TX 79101 | 20-4727861 | 50%LSI | ||||||
Larclay, L.P. | 701 S. Taylor, Suite 426 | Amarillo, TX 79101 | 20-4728095 | 50%LSI | ||||||
MCRLLC | Midcontinent Resources, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-0096928 | 100%SDI | |||||
PSEML | PetroSource Energy Management, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-1237622 | 100%SDI | |||||
PSEC | PetroSource Energy Company, LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-2629471 | 99%SDI, 1% PSEM | |||||
PSCO2 | PSCO2, LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 76-0547903 | 99%PSEC, 1% PSEML | |||||
PSPC | PetroSource Production Company, LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-1918006 | 99%PSEC, 1% PSEML | |||||
PSE Holdings, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2950920 | 100%SDI | ||||||
PSEM | PSE Management, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-2622462 | 100%SDI | |||||
RLC | Riagra Land & Cattle | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2569335 | 100%SDI | |||||
SDC | SandRidge Drilling Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2563168 | 100%SDI | |||||
RIAN | Riata Energy Operating, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-0333569 | 100%SDI | |||||
REIPIC | Riata Piceance, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-0023468 | 100%SDI | |||||
Riata Wolfcamp Management, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-2214412 | 100%SDI | ||||||
ROC | ROC Gas Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2541148 | 100%SDI | |||||
SBP | Sagebrush Pipeline, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-1550515 | 70%ROC | |||||
SMM | Sierra Madera Management, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 43-1969581 | 100%SDI | |||||
SMCO2 | Sierra Madera CO2 Pipeline, Ltd | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 47-0881558 | 99%SDI, 1% SMM |
Symbol | Company Name | Address | City/State/Zip | FEIN | OWNERSHIP | |||||
SandRidge Holdings, Inc. Acquisition | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 20-5878401 | 100% SDI | ||||||
NEG | NEG Oil & Gas, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 03-0573934 | 100% Sandridge | |||||
SUBSIDIARY ENTITIES | ||||||||||
NEGH | NEG Holding, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 75-2958833 | 100%NEG | |||||
NEGO | NEG Operating, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776535 | 100%NEGH | |||||
NGXGP | NGX GP of Delaware LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776542 | 100%NEGO | |||||
NGXLP | NGX LP Of Delaware LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776545 | 100%NEGO | |||||
NGXELP | NGX Energy Limited Partnership | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776546 | 99%NGXLP, 1%NGXGP | |||||
SHANA | Shana National LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776549 | 100%NEGO | |||||
MIDR | Mid River, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776548 | 100%NEG | |||||
OFFGP | Offshore GP, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776539 | 100%NEG | |||||
OFFLP | Offshore LP, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776538 | 100%NEG | |||||
NOFFSH | National Offshore LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 11-3758786 | 99%OFFLP, 1%OFFGP | |||||
ONGP | Onshore GP, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 76-0833283 | 100%NEG | |||||
ONLP | Onshore LP, LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 87-0776536 | 100%NEG | |||||
NONSH | National Onshore LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 47-0953489 | 99%ONLP, 1%ONGP | |||||
GBPIPE | Galveston Bay Pipeline Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 76-0595703 | 100%NONSH | |||||
GBPROC | Galveston Bay Processing Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | 76-0570422 | 100%NONSH |
Company Name | Address | City/State/Zip | Jurisdiction | FEIN Number | ||||
SandRidge Operating Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Texas | 75-2541245 | ||||
Integra Energy, L.L.C. | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Texas | 75-2887527 | ||||
Lariat Compression Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Texas | 75-2545523 | ||||
NEG Oil & Gas LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Delaware | 03-0573934 | ||||
NEG Operating LLC | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Delaware | 87-0776535 | ||||
National Offshore LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Delaware | 11-3758786 | ||||
National Onshore LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Delaware | 47-0953489 | ||||
PetroSource Energy Company, LP | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Texas | 20-2629471 | ||||
PetroSource Production Company, L.P. | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Texas | 20-1918006 | ||||
SandRidge Energy, Inc. | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Texas | 20-8084793 | ||||
ROC Gas Company | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Texas | 75-2541148 | ||||
Sandridge Holdings, Inc. | 1601 NW Expwy, 1600 | Oklahoma City, OK 73118 | Delaware | 20-5878401 |
CERTAIN ADDRESSES FOR NOTICES
SandRidge Energy, Inc.
1601 Northwest Expressway, Suite 1600
Oklahoma City, OK 73118
Attention: Matt McCann
Telephone: (405) 753-5600
Telecopier: (405) 753-5988
Electronic Mail: mmccann@sdrge.com
Website Address: www.sandridgeenergy.com
(for payments and Requests for Credit Extensions):
Bank of America, N.A.
One Independence Center
101 North Tryon Street
Mail Code: NC1-001-04-39
Charlotte, NC 28255-001
Attention: Renee Blackmore
Telephone: (704) 387-2484
Telecopier: (704) 719-5450
Account No.: 1366212250600
Ref: SandRidge Energy, Inc.
ABA# 026009593
Bank of America, N.A.
Agency Management
231 South LaSalle Street
Mail Code: IL1-231-10-41
Chicago, IL 60697
Attention: Suzanne M. Paul
Telephone: (312) 923-1640
Telecopier: (877) 206-8435
Electronic Mail: suzanne.m.paul@bankofamerica.com
Transaction | Assignment Fee | |||
First four concurrent assignments or suballocations to members of an Assignee Group (or from members of an Assignee Group, as applicable) | -0- | |||
Each additional concurrent assignment or suballocation to a member of such Assignee Group (or from a member of such Assignee Group, as applicable) | $ | 500 |
SANDRIDGE ENERGY, INC. | ||||
By: | ||||
Name: | ||||
Title: |
A-1
Form of Loan Notice
B-1
Form of Compliance Certificate
SANDRIDGE ENERGY, INC. | ||||
By: | ||||
Name: | ||||
Title: |
B-2
Form of Compliance Certificate
1 | For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language. | |
2 | For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language. | |
3 | Select as appropriate. | |
4 | Include bracketed language if there are either multiple Assignors or multiple Assignees. |
C-1
Form of Assignment and Assumption
1. | Assignor[s]: | |||||
2. | Assignee[s]: | |||||
[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]] | ||||||
3. | Borrower(s): | |||||
4. | Administrative Agent: Bank of America, N.A., as the administrative agent under the Credit Agreement | |||||
5. | Credit Agreement: Credit Agreement, dated as of March 22, 2007 among SandRidge Energy, Inc., the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent. | |||||
6. | Assigned Interest[s]:5 |
Aggregate | Percentage | |||||||||||||||||||||||
Amount of | Amount of | Assigned of | ||||||||||||||||||||||
Facility | Commitment/Loans | Commitment/Loans | Commitment/ | CUSIP | ||||||||||||||||||||
Assignor[s]6 | Assignee[s]7 | Assigned8 | for all Lenders9 | Assigned | Loans10 | Number | ||||||||||||||||||
________ | $ | ________ | $ | ________ | ________ | % | ||||||||||||||||||
________ | $ | ________ | $ | ________ | ________ | % | ||||||||||||||||||
________ | $ | ________ | $ | ________ | ________ | % |
[7. | Trade Date: | ]11 |
5 | The reference to “Loans” in the table should be used only if the Credit Agreement provides for Term Loans. | |
6 | List each Assignor, as appropriate. | |
7 | List each Assignee, as appropriate. | |
8 | Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g. “Floating Rate Commitment”, “Fixed Rate Commitment”, etc.). | |
9 | Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date. | |
10 | Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. | |
11 | To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date. |
C-2
Form of Assignment and Assumption
ASSIGNOR [NAME OF ASSIGNOR] | ||||
By: | ||||
Title: | ||||
ASSIGNEE [NAME OF ASSIGNEE] | ||||
By: | ||||
Title: | ||||
Consented to and Accepted: BANK OF AMERICA, N.A, as Administrative Agent | ||||
By: | ||||
Title: | ||||
Consented to: SANDRIDGE ENERGY, INC. | ||||
By: | ||||
Title: | ||||
C-3
Form of Assignment and Assumption
12 | Describe Credit Agreement at option of Administrative Agent. |
C-4
Form of Assignment and Assumption
C-5
Form of Assignment and Assumption
Section | Page | |||
Section 1. Guaranty; Limitation of Liability | 1 | |||
Section 2. Guaranty Absolute | 2 | |||
Section 3. Waivers and Acknowledgments | 3 | |||
Section 4. Subrogation; Contribution | 4 | |||
Section 5. Payments Free and Clear of Taxes, Etc. | 5 | |||
Section 6. Representations and Warranties | 7 | |||
Section 7. Covenants | 7 | |||
Section 8. Amendments, Guaranty Supplements, Etc. | 7 | |||
Section 9. Notices, Etc. | 8 | |||
Section 10. No Waiver; Remedies | 8 | |||
Section 11. Right of Set-off | 8 | |||
Section 12. Subordination | 9 | |||
Section 13. Continuing Guaranty; Assignments under the Credit Agreement | 10 | |||
Section 14. Execution in Counterparts | 10 | |||
Section 15. Terms Generally; References and Titles | 10 | |||
Section 16. Governing Law; Jurisdiction; Waiver of Jury Trial, Etc. | 11 | |||
Exhibit A — Guaranty Supplement |
2
3
4
5
6
7
8
9
10
11
12
NEG OIL & GAS LLC | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
NATIONAL ONSHORE LP | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
NATIONAL OFFSHORE LP | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
ROC GAS COMPANY | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
LARIAT COMPRESSION COMPANY | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer |
SANDRIDGE OPERATING COMPANY | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
INTEGRA ENERGY, L.L.C. By: SandRidge Operating Company, managing member | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
PETROSOURCE ENERGY COMPANY, LP | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
PETROSOURCE PRODUCTION COMPANY, L.P. | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
NEG OPERATING LLC | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer | |||
SANDRIDGE HOLDINGS, INC. | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer |
LARIAT SERVICES, INC. | ||||
By: | /s/ Tom L. Ward | |||
Name: | Tom L. Ward | |||
Title: | Chief Executive Officer |
To The
Guaranty
9 West 57th Street
New York, New York 10019
SandRidge Energy, Inc. (the “Borrower”),
the Guaranteed Parties party to the Credit Agreement,
Bank of America, N.A., as Administrative Agent and Banc of America Securities LLC, as Lead
Arranger, and Deutsche Bank Securities Inc., Goldman Sachs Credit Partners L.P. and Lehman Brothers
Inc. as Co-Arrangers
A-1
A-2
A-3
Very truly yours, [NAME OF ADDITIONAL GUARANTOR] | ||||
By | ||||
Title: | ||||
A-4