Dated as of January 31, 2007
among
as the Borrower
from Time to Time Parties Hereto
LEHMAN BROTHERS INC.,
as Co-Lead Arrangers and Joint Bookrunners
as Administrative Agent and Collateral Agent
as Syndication Agent
Page | ||||
SECTION 1. DEFINITIONS | 2 | |||
1.1 Defined Terms | 2 | |||
1.2 Other Interpretive Provisions | 36 | |||
1.3 Accounting Terms; Exchange Rates | 37 | |||
1.4 Rounding | 37 | |||
1.5 References to Agreements, Laws, Etc | 38 | |||
SECTION 2. AMOUNT AND TERMS OF CREDIT | 38 | |||
2.1 Commitments | 38 | |||
2.2 Minimum Amount of Each Borrowing; Maximum Number of Borrowings | 38 | |||
2.3 Notice of Borrowing | 38 | |||
2.4 Disbursement of Funds | 39 | |||
2.5 Repayment of Loans; Evidence of Debt | 40 | |||
2.6 Conversions and Continuations | 41 | |||
2.7Pro RataBorrowings | 42 | |||
2.8 Interest | 42 | |||
2.9 Interest Periods | 43 | |||
2.10 Increased Costs, Illegality, etc | 44 | |||
2.11 Compensation | 46 | |||
2.12 Change of Lending Office | 46 | |||
2.13 Notice of Certain Costs | 46 | |||
2.14 Incremental Facilities | 47 | |||
SECTION 3. [INTENTIONALLY OMITTED] | 48 | |||
SECTION 4. FEES; COMMITMENTS | 48 | |||
4.1 Fees | 48 | |||
4.2 [Intentionally Omitted] | 48 | |||
4.3 Mandatory Termination of Commitments | 48 | |||
SECTION 5. PAYMENTS | 48 | |||
5.1 Voluntary Prepayments | 48 | |||
5.2 Mandatory Prepayments | 49 | |||
5.3 Method and Place of Payment | 51 | |||
5.4 Net Payments | 51 | |||
5.5 Computations of Interest and Fees | 54 | |||
5.6 Limit on Rate of Interest | 54 |
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SECTION 6. CONDITIONS PRECEDENT TO INITIAL BORROWING | 55 | |||
6.1 Credit Documents | 55 | |||
6.2 Collateral | 55 | |||
6.3 Legal Opinions | 56 | |||
6.4 [Intentionally Omitted] | 56 | |||
6.5 Equity Investments; Existing Indebtedness | 56 | |||
6.6 Closing Certificates | 56 | |||
6.7 Organizational Documents; Incumbency | 56 | |||
6.8 Fees | 56 | |||
6.9 Representations and Warranties | 57 | |||
6.10 Related Agreements | 57 | |||
6.11 Solvency Certificate | 57 | |||
6.12 Historical Financial Statements | 57 | |||
6.13 Merger | 57 | |||
6.14 Insurance | 57 | |||
6.15 Pro Forma Financial Statements | 57 | |||
6.16 [Intentionally Omitted] | 57 | |||
6.17 [Intentionally Omitted] | 57 | |||
6.18 Leverage | 57 | |||
6.19 [Intentionally Omitted] | 58 | |||
6.20 Legal and Organizational Structure | 58 | |||
SECTION 7. CONDITIONS PRECEDENT TO ALL CREDIT EVENTS | 58 | |||
7.1 No Default; Representations and Warranties | 58 | |||
7.2 Notice of Borrowing | 58 | |||
SECTION 8. REPRESENTATIONS, WARRANTIES AND AGREEMENTS | 58 | |||
8.1 Corporate Status | 58 | |||
8.2 Corporate Power and Authority | 59 | |||
8.3 No Violation | 59 | |||
8.4 Litigation | 59 | |||
8.5 Margin Regulations | 59 | |||
8.6 Governmental Approvals | 59 | |||
8.7 Investment Company Act | 60 | |||
8.8 True and Complete Disclosure | 60 | |||
8.9 Financial Condition; Financial Statements | 60 | |||
8.10 Tax Returns and Payments | 60 | |||
8.11 Compliance with ERISA | 61 | |||
8.12 Subsidiaries | 61 | |||
8.13 Intellectual Property | 61 | |||
8.14 Environmental Laws | 62 |
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Page | ||||
8.15 Properties | 62 | |||
8.16 Solvency | 62 | |||
SECTION 9. AFFIRMATIVE COVENANTS | 62 | |||
9.1 Information Covenants | 62 | |||
9.2 Books, Records and Inspections | 66 | |||
9.3 Maintenance of Insurance | 67 | |||
9.4 Payment of Taxes | 67 | |||
9.5 Consolidated Corporate Franchises | 67 | |||
9.6 Compliance with Statutes, Regulations, etc | 67 | |||
9.7 ERISA | 68 | |||
9.8 Maintenance of Properties | 68 | |||
9.9 Transactions with Affiliates | 68 | |||
9.10 End of Fiscal Years; Fiscal Quarters | 69 | |||
9.11 Additional Guarantors and Grantors | 69 | |||
9.12 Pledges of Additional Stock and Evidence of Indebtedness | 69 | |||
9.13 Use of Proceeds | 70 | |||
9.14 [Intentionally Omitted] | 70 | |||
9.15 Interest Rate Protection | 70 | |||
9.16 [Intentionally Omitted] | 70 | |||
9.17 Further Assurances | 70 | |||
SECTION 10. NEGATIVE COVENANTS | 71 | |||
10.1 Limitation on Indebtedness | 71 | |||
10.2 Limitation on Liens | 75 | |||
10.3 Limitation on Fundamental Changes | 77 | |||
10.4 Limitation on Sale of Assets | 79 | |||
10.5 Limitation on Investments | 82 | |||
10.6 Limitation on Dividends | 84 | |||
10.7 Limitations on Debt Payments and Amendments | 85 | |||
10.8 Limitations on Sale Leasebacks | 86 | |||
10.9 Consolidated Total Debt to Consolidated EBITDA Ratio | 86 | |||
10.10 Consolidated EBITDA to Consolidated Interest Expense Ratio. | 87 | |||
10.11 Capital Expenditures: | 87 | |||
10.12 Changes in Business | 88 | |||
10.13 Burdensome Agreements | 88 | |||
SECTION 11. EVENTS OF DEFAULT | 89 | |||
11.1 Payments | 89 | |||
11.2 Representations, etc | 89 | |||
11.3 Covenants | 89 |
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11.4 Default Under Other Agreements | 89 | |||
11.5 Bankruptcy, etc | 90 | |||
11.6 ERISA | 90 | |||
11.7 Guarantee | 91 | |||
11.8 Pledge Agreement | 91 | |||
11.9 Security Agreement | 91 | |||
11.10 Mortgages | 91 | |||
11.11 Judgments | 91 | |||
11.12 Change of Control | 91 | |||
11.13 Subordination | 91 | |||
SECTION 12. INVESTORS’ RIGHT TO CURE | 92 | |||
SECTION 13. THE ADMINISTRATIVE AGENT | 92 | |||
13.1 Appointment | 92 | |||
13.2 Delegation of Duties | 93 | |||
13.3 General Immunity | 94 | |||
13.4 Reliance by Agents | 95 | |||
13.5 Notice of Default | 95 | |||
13.6 Non-Reliance on Administrative Agent, Collateral Agent and Other Lenders | 95 | |||
13.7 Indemnification | 96 | |||
13.8 Agents in their Individual Capacity | 97 | |||
13.9 Successor Agents | 97 | |||
13.10 Withholding Tax | 97 | |||
13.11 REPORTS AND FINANCIAL STATEMENTS; DISCLAIMER BY LENDERS | 98 | |||
SECTION 14. MISCELLANEOUS | 98 | |||
14.1 Amendments and Waivers | 98 | |||
14.2 Notices | 100 | |||
14.3 No Waiver; Cumulative Remedies | 101 | |||
14.4 Survival of Representations and Warranties | 101 | |||
14.5 Payment of Expenses and Taxes | 101 | |||
14.6 Successors and Assigns; Participations and Assignments | 102 | |||
14.7 Replacements of Lenders under Certain Circumstances | 105 | |||
14.8 Adjustments; Set-off | 106 | |||
14.9 Counterparts | 107 | |||
14.10 Severability | 107 | |||
14.11 Integration | 107 | |||
14.12 GOVERNING LAW | 107 |
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14.13 Submission to Jurisdiction; Waivers | 107 | |||
14.14 Acknowledgments | 108 | |||
14.15WAIVERS OF JURY TRIAL | 108 | |||
14.16 Confidentiality | 108 | |||
14.17 Direct Website Communications | 109 | |||
14.18 USA PATRIOT Act | 111 |
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SCHEDULES | ||
Schedule 1.1(A) | Existing Letters of Credit | |
Schedule 1.1 (B) | Mortgaged Properties | |
Schedule 1.1 (C) | Commitments and Addresses of Lenders | |
Schedule 1.1 (D) | Excluded Subsidiaries | |
Schedule 1.1(E) | Initial Cost Savings | |
Schedule 1.1(F) | Non-Core Assets | |
Schedule 8.12 | Subsidiaries | |
Schedule 9.9 | Closing Date Affiliate Transactions | |
Schedule 9.17(C) | Post-Closing Actions | |
Schedule 10.1 | Closing Date Indebtedness | |
Schedule 10.2 | Closing Date Liens | |
Schedule 10.5 | Closing Date Investments | |
Schedule 10.11 | Closing Date Restrictions | |
Schedule 14.2 | Notice Addresses | |
EXHIBITS | ||
Exhibit C | Form of Guarantee | |
Exhibit D | Form of Mortgage (Real Property) | |
Exhibit E | Form of Perfection Certificate | |
Exhibit F | Form of Pledge Agreement | |
Exhibit G | Form of Security Agreement | |
Exhibit H | [Intentionally Omitted] | |
Exhibit I-1 | Form of Legal Opinion of Simpson Thacher & Bartlett LLP | |
Exhibit I-2 | Form of Legal Opinion of Bowles Rice McDavid Graff & Love LLP | |
Exhibit J | Form of Closing Certificate | |
Exhibit K | Form of Assignment and Acceptance | |
Exhibit L | Form of Promissory Note | |
Exhibit M | Form of Joinder Agreement | |
Exhibit N | [Intentionally Omitted] | |
Exhibit O | Form of Intercreditor Agreement |
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Applicable ABR Margin for | ||||
Status | Term Loans | |||
Level I Status | 1.25 | % | ||
Level II Status | 1.00 | % |
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Applicable LIBOR Margin for | ||||
Status | Term Loans | |||
Level I Status | 2.25 | % | ||
Level II Status | 2.00 | % |
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(i) | Consolidated Net Income for such period, |
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(ii) | an amount equal to the amount of all non-cash charges to the extent deducted in arriving at such Consolidated Net Income, | ||
(iii) | decreases in Consolidated Working Capital and long-term account receivables for such period, and | ||
(iv) | an amount equal to the aggregate net non-cash loss on Dispositions by the Borrower and the Restricted Subsidiaries during such period (other than Dispositions in the ordinary course of business) to the extent deducted in arriving at such Consolidated Net Income, over |
(i) | an amount equal to the amount of all non-cash credits included in arriving at such Consolidated Net Income and cash charges included in clauses (a) through (f) of the definition of Consolidated Net Income (other than cash charges in respect of Transaction Expenses paid on or about the Closing Date to the extent financed with the proceeds of Indebtedness incurred on the Closing Date or the Equity Investments), | ||
(ii) | without duplication of amounts deducted pursuant to clause (xi) below in prior years, the amount of capital expenditures made in cash during such period, except to the extent that such capital expenditures were financed with the proceeds of Indebtedness of the Borrower or the Restricted Subsidiaries, | ||
(iii) | the aggregate amount of all principal payments of Indebtedness of the Borrower and the Restricted Subsidiaries (including (A) the principal component of payments in respect of Capitalized Leases and (B) the amount of any mandatory prepayment of Term Loans pursuant to Section 5.2(a) to the extent required due to a Disposition that resulted in an increase to Consolidated Net Income and not in excess of the amount of such increase but excluding (x) all other prepayments of Term Loans and (y) all prepayments of Revolving Credit Loans and Swing Line Loans) made during such period (other than in respect of any revolving credit facility to the extent there is not an equivalent permanent reduction in commitments thereunder), except to the extent financed with the proceeds of other Indebtedness of the Borrower or the Restricted Subsidiaries, | ||
(iv) | an amount equal to the aggregate net non-cash gain on Dispositions by the Borrower and the Restricted Subsidiaries during such period (other than Dispositions in the ordinary course of business) to the extent included in arriving at such Consolidated Net Income, |
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(v) | increases in Consolidated Working Capital for such period and long-term account receivables for such period, | ||
(vi) | cash payments by the Borrower and the Restricted Subsidiaries during such period in respect of long-term liabilities of the Borrower and the Restricted Subsidiaries other than Indebtedness, | ||
(vii) | without duplication of amounts deducted pursuant to clause (xi) below in prior fiscal years, the aggregate amount of cash consideration paid by the Borrower and the Restricted Subsidiaries in connection with Investments (including acquisitions) made during such period pursuant to Section 10.5 to the extent that such Investments were financed with internally generated cash flow of the Borrower and the Restricted Subsidiaries, | ||
(viii) | the amount of dividends paid during such period to the extent such dividends were financed with internally generated cash flow of the Borrower and the Restricted Subsidiaries, | ||
(ix) | the aggregate amount of expenditures actually made by the Borrower and the Restricted Subsidiaries in cash during such period (including expenditures for the payment of financing fees) to the extent that such expenditures are not expensed during such period, | ||
(x) | the aggregate amount of any premium, make-whole or penalty payments actually paid in cash by the Borrower and the Restricted Subsidiaries during such period that are required to be made in connection with any prepayment of Indebtedness, | ||
(xi) | without duplication of amounts deducted from Excess Cash Flow in prior periods, the aggregate consideration required to be paid in cash by the Borrower or any of the Restricted Subsidiaries pursuant to binding contracts (the “Contract Consideration”) entered into prior to or during such period relating to Permitted Acquisitions, Investments in the nature of joint ventures or capital expenditures to be consummated or made during the period of four consecutive fiscal quarters of the Borrower following the end of such period,provided that to the extent the aggregate amount of internally generated cash actually utilized to finance such Permitted Acquisitions, Investment in the nature of joint ventures or capital expenditures during such period of four consecutive fiscal quarters is less than the Contract Consideration, the amount of such shortfall shall be added to the calculation of Excess Cash Flow at the end of such period of four consecutive fiscal quarters, and |
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(xii) | the amount of cash taxes paid in such period to the extent they exceed the amount of tax expense deducted in determining Consolidated Net Income for such period. |
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Repayment Date | Term Loan Repayment Amount | |||
March 31, 2007 | 0.25 | % | ||
June 30, 2007 | 0.25 | % | ||
September 30, 2007 | 0.25 | % | ||
December 31, 2007 | 0.25 | % | ||
March 31, 2008 | 0.25 | % | ||
June 30, 2008 | 0.25 | % | ||
September 30, 2008 | 0.25 | % | ||
December 31, 2008 | 0.25 | % | ||
March 31, 2009 | 0.25 | % | ||
June 30, 2009 | 0.25 | % | ||
September 30, 2009 | 0.25 | % | ||
December 31, 2009 | 0.25 | % | ||
March 31, 2010 | 0.25 | % | ||
June 30, 2010 | 0.25 | % | ||
September 30, 2010 | 0.25 | % | ||
December 31, 2010 | 0.25 | % | ||
March 31, 2011 | 0.25 | % | ||
June 30, 2011 | 0.25 | % | ||
September 30, 2011 | 0.25 | % | ||
December 31, 2011 | 0.25 | % | ||
March 31, 2012 | 0.25 | % | ||
June 30, 2012 | 0.25 | % | ||
September 30, 2012 | 0.25 | % |
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Repayment Date | Term Loan Repayment Amount | |||
December 31, 2012 | 0.25 | % | ||
March 31, 2013 | 0.25 | % | ||
June 30, 2013 | 0.25 | % | ||
September 30, 2013 | 0.25 | % | ||
December 31, 2013 | 0.25 | % | ||
Term Loan Maturity Date | 93.00 | % |
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Period | Ratio | |
March 31, 2007 | 5.75:1.00 | |
June 30, 2007 | 5.75:1.00 | |
September 30, 2007 | 5.75:1.00 | |
December 31, 2007 | 5.75:1.00 | |
March 31, 2008 | 5.50:1.00 | |
June 30, 2008 | 5.50:1.00 | |
September 30, 2008 | 5.25:1.00 | |
December 31, 2008 | 5.25:1.00 | |
March 31, 2009 | 5.00:1.00 | |
June 30, 2009 | 5.00:1.00 | |
September 30, 2009 | 4.50:1.00 | |
December 31, 2009 | 4.50:1.00 | |
March 31, 2010 | 4.50:1.00 | |
June 30, 2010 | 4.50:1.00 | |
September 30, 2010 | 4.00:1.00 | |
December 31, 2010 | 4.00:1.00 | |
March 31, 2011 | 4.00:1.00 | |
June 30, 2011 | 4.00:1.00 | |
September 30, 2011 | 3.50:1.00 | |
December 31, 2011 | 3.50:1.00 | |
March 31, 2012 | 3.50:1.00 | |
June 30, 2012 | 3.50:1.00 | |
September 30, 2012 | 3.00:1.00 | |
December 31, 2012 | 3.00:1.00 | |
March 31, 2013 | 3.00:1.00 | |
June 30, 2013 | 3.00:1.00 | |
September 30, 2013 | 3.00:1.00 | |
December 31, 2013 | 3.00:1.00 |
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Period | Ratio | |
March 31, 2007 | 2.00:1.00 | |
June 30, 2007 | 2.00:1.00 | |
September 30, 2007 | 2.00:1.00 | |
December 31, 2007 | 2.00:1.00 | |
March 31, 2008 | 2.25:1.00 | |
June 30, 2008 | 2.25:1.00 | |
September 30, 2008 | 2.50:1.00 | |
December 31, 2008 | 2.50:1.00 | |
March 31, 2009 | 2.50:1.00 | |
June 30, 2009 | 2.50:1.00 | |
September 30, 2009 | 2.50:1.00 | |
December 31, 2009 | 2.50:1.00 | |
March 31, 2010 | 2.75:1.00 | |
June 30, 2010 | 2.75:1.00 | |
September 30, 2010 | 2.75:1.00 | |
December 31, 2010 | 2.75:1.00 | |
March 31, 2011 | 3.00:1.00 | |
June 30, 2011 | 3.00:1.00 | |
September 30, 2011 | 3.00:1.00 | |
December 31, 2011 | 3.00:1.00 | |
March 31, 2012 | 3.25:1.00 | |
June 30, 2012 | 3.25:1.00 | |
September 30, 2012 | 3.25:1.00 | |
December 31, 2012 | 3.25:1.00 | |
March 31, 2013 | 3.25:1.00 | |
June 30, 2013 | 3.25:1.00 | |
September 30, 2013 | 3.25:1.00 | |
December 31, 2013 | 3.25:1.00 |
Fiscal Year | Amount | |||
2007 | $ | 12,000,000 | ||
2008 | $ | 12,000,000 | ||
2009 | $ | 12,000,000 | ||
2010 | $ | 12,000,000 | ||
2011 | $ | 12,000,000 | ||
2012 | $ | 12,000,000 |
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MCJUNKIN CORPORATION | ||||
By: | /s/ J.F. UNDERHILL | |||
Name: | ||||
Title: |
LEHMAN COMMERCIAL PAPER INC., as Administrative Agent, as Collateral Agent and as a Lender | ||||
By: | /s/ JEFF OGDEN | |||
Name: | Jeff Ogden | |||
Title: | Managing Director |
GOLDMAN SACHS CREDIT PARTNERS L.P., as Co-Lead Arranger, Joint Bookrunner, Syndication Agent and as a Lender | ||||
By: | /s/ BRUCE MENDELSOHN | |||
Name: | Bruce Mendelsohn | |||
Title: | Authorized Signatory | |||
By: | ||||
Name: | ||||
Title: |
LEHMAN BROTHERS INC., as Co-Lead Arranger and Joint Bookrunner | ||||
By: | /s/ JEFF OGDEN | |||
Name: Jeff Ogden | ||||
Title: Managing Director |
[SIGNATURE PAGE TO TERM LOAN CREDIT AGREEMENT]
Beneficiary | Expiration Date | Amount | Purpose | Issuing Bank | ||||||
Brickstreet | 11/1/07 | $ | 200,000 | Worker’s Comp | JPMorgan Chase | |||||
St. Paul Travelers | 11/4/07 | $ | 1,775,000 | Insurance | United Bank | |||||
State of West Virginia | 1/31/08 | $ | 1,000,000 | Worker’s Comp | JPMorgan Chase | |||||
Sentry Insurance | 11/1/07 | $ | 130,000 | Insurance | JPMorgan Chase |
Name of Pertection Entity | Location | ||||
McJunkin Corporation | 4732 Darien Houston, TX 77028 | ||||
McJunkin Corporation | 1100 Leblanc Road, Port Allen, LA 70767 West Baton Rouge Parish, LA | ||||
McJunkin Corporation | 835 Hillcrest Drive, Charleston, WV 25311 | ||||
McJunkin Corporation | Nitro, WV | ||||
TERM LOAN COMMITMENTS
Lender | Term Loan Commitment | ||
Goldman Sachs Credit Partners L.P. | $575,000,000 | ||
3/31/07 | — | $11,203,565 | ||
6/30/07 | — | $7,842,496 | ||
9/30/07 | — | $4,481,426 | ||
12/31/07 | — | $1,120,357 |
Material | ||||||||||||
Name | Owner | FEIN | Type | Subsidiary (Y/N) | ||||||||
McJunkin Appalachian Oilfield Supply Company | McJunkin Corporation | 55-0685701 | corporation | Y | ||||||||
McJunkin Nigeria Limited | McJunkin Corporation | 55-0758030 | corporation | N | ||||||||
McJunkin Development Corporation | McJunkin Corporation | 55-0825430 | corporation | N | ||||||||
McJunkin-Puerto Rico Corporation | McJunkin Corporation | 27-0094172 | corporation | N | ||||||||
McJunkin Receivables Corporation | McJunkin Corporation | 55-2070733 | corporation | N | ||||||||
McJunkin-West Africa Corporation | McJunkin Corporation | 20-7303835 | corporation | N | ||||||||
Milton Oil & Gas Company | McJunkin Corporation | 55-0547779 | corporation | N | ||||||||
Greenbrier Petroleum Corporation | Milton Oil & Gas Company | 55-0566559 | corporation | N | ||||||||
Piedmont Farms, Inc. | McJunkin Corporation | 55-0547781 | corporation | N | ||||||||
Ruffner Realty Company | McJunkin Corporation | 55-0547777 | corporation | N | ||||||||
McJunkin Nigeria Limited | McJunkin Corporation | N/A | corporation | N | ||||||||
Beneficiary | Expiration Date | Amount | Purpose | Issuing Bank | ||||||||||||||||
Brickstreet | 11/1/07 | $ | 200,000 | Worker’s Comp | JP Morgan Chase | |||||||||||||||
St. Paul Travelers | 11/4/07 | $ | 1,175,000 | Insurance | United Bank | |||||||||||||||
State of West Virginia | 1/31/08 | $ | 1,000,000 | Worker’s Comp | JP Morgan Chase | |||||||||||||||
Sentry Insurance | 11/1/07 | $ | 130,000 | Insurance | JP Morgan Chase | |||||||||||||||
Lumberman’s Mutual | 7/1/07 | $ | 89,653 | Insurance | National City | |||||||||||||||
Warehouse | State | County | Lessor | Lease Expir Date | ||||||||||
Little Rock | AR | Pulaski | Hansford Associates, LP | 12/31/2016 | ||||||||||
Bakersfield | CA | Kern | Hansford Associates, LP | 3/31/2012 | ||||||||||
Augusta | GA | Richmond | Hansford Associates, LP | 12/31/2009 | ||||||||||
Granite City | IL | Madison | Hansford Associates, LP | 9/30/2009 | ||||||||||
Calvert City | KY | Marshall | Hansford Associates, LP | 10/31/2011 | ||||||||||
Cleveland | OH | Summit | Hansford Associates, LP | 10/31/2010 | ||||||||||
North Charleston | SC | Charleston | Hansford Associates, LP | 12/31/2009 | ||||||||||
LaMarque | TX | Galveston | Hansford Associates, LP | 12/31/2012 | ||||||||||
Rock Springs | WY | Sweetwater | Hansford Associates, LP | 3/31/2012 | ||||||||||
1
Investment | Percentage Of Interest | ||
Greenbrier Development Drilling Partners 1976 P.O. Box 513 Charleston, West Virginia 25322 | 47 Units, 8.07% | ||
W.T. Massey 200 N.W. 66th, Suite 935 Oklahoma City, Oklahoma 73116 & H.A. Moore 4013 N.W. Expressway Suite 605 Oklahoma City, Oklahoma 73116 | Own various overriding royalty interests in oil and gas wells in Oklahoma Own various overriding royalty interests in oil and gas wells in Oklahoma. | ||
PrimeEnergy Corporation One Landmark Square Stamford, Connecticut 06901 | Purchased 49.8% interest in K.R.M. Petroleum Company in 1984. Name changed on 5/17/90 from K.R.M. Petroleum to PrimeEnergy (percentage owned approximately 19.0% as of 6/30/06) | ||
Vision Exploration & Production Co., LLC 8100 E. 22nd No. Bldg. 1100 Wichita, Kansas 67226 | Purchased 1/3 interest in Vision Exploration & Production, LLC |
Investment | Percentage Of Interest | ||
Butcher & Singer C/O Butcher & Singer, Inc. 211 South Broad Street Philadelphia, Pennsylvania 15105 Buttes 1976-1 (931) | Overriding royalty interest | ||
Cabot Oil & Gas Corporation (formerly Appalachian Exploration & Development) C/O Cabot Petroleum Corporation Joint Interest Section |
Investment | Percentage Of Interest | |||||
921 Main Street, Suite 900 Houston, Texas 77002 | ||||||
B & H Partnership (935) | 60% working interest | |||||
Milton Option (938) | 60% working interest | |||||
P & H Partnership (942) | 60% working interest | |||||
Dunne Equities C/O Dunne Equities 8100 E. 22nd Street North Building 1100 Wichita, Kansas 67226 | ||||||
Currently (24) Productive Wells/Programs | Various % | |||||
Quad D Operating P.O. Box 5567 Huntington, West Virginia 25703 | ||||||
Closterman M-1 And M-2 (952) | 25% working interest | |||||
Closterman M-3 And M-4 (953) | 18.75% working interest | |||||
Closterman M-5 (954) | 18.75% working interest | |||||
Closterman M-6 (955) | 18.75% working interest | |||||
D.P. Morris Lease Well (956) | 25% working interest | |||||
Devon Energy Production Co LP 20 North Broadway Oklahoma City, Oklahoma 73102 | ||||||
Clifton #1 (946) | .90868% working interest | |||||
Hawkins #1 (948) | 1.82364% working interest | |||||
Pritchard #1 (949). | 32835% net revenue interest | |||||
Whisenhunt (950) | ||||||
Clifton #2 (947) | 1.0138% working interest | |||||
Clifton #3 (951) | 1.0447% working interest | |||||
Investment | Percentage Of Interest | ||
Auburn Lakes - Cost Basis 185 Acres + 370 Units Condominium 2901 Cedar Road Cleveland, Ohio | 2.08% | ||
Investment | Percentage Of Interest | ||
First Interstate Elyria Shopping Center Elyria, Ohio | 1.04% | ||
First Interstate Hawthorne - Cost Basis Equity Investors Shopping Center 29425 Chagrin Boulevard Cleveland, Ohio | 1.85% | ||
First Interstate Mentor Centers Equity Investors Shopping Center 29425 Chagrin Boulevard Cleveland, Ohio | 1.39% | ||
Merc-Ex Investors Ltd. Partnership. - Cost Basis Equity Investors, Inc. Apartment Complex Beachwood, Ohio | 7.75% | ||
One Congress Square - Cost Basis Sovereign Realty Office Building - Historic Structure Chicago, Illinois | 1.5% | ||