{"id":43405,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/exchange-agreement-presidio-oil-co-presidio-exploration-inc3.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"exchange-agreement-presidio-oil-co-presidio-exploration-inc3","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/planning\/exchange-agreement-presidio-oil-co-presidio-exploration-inc3.html","title":{"rendered":"Exchange Agreement &#8211; Presidio Oil Co., Presidio Exploration Inc., Presidio West Virginia, Palisade Oil Inc. and Tom Brown Inc."},"content":{"rendered":"<pre>                                SECOND AMENDMENT\n                                       TO\n                               EXCHANGE AGREEMENT\n\n\n         This Second Amendment to Exchange Agreement dated as of September 5,\n1996, (the 'Second Amendment') is entered into by and among Presidio Oil\nCompany, a Delaware corporation, Presidio Exploration, Inc., a Colorado\ncorporation, Presidio West Virginia, a Delaware corporation, Palisade Oil,\nInc., a Colorado corporation, and Tom Brown, Inc., a Delaware corporation.\n\n                                   RECITALS:\n\n         A.      The parties hereto have previously entered into that certain\nExchange Agreement dated August 5, 1996, which was subsequently amended by a\nFirst Amendment to Exchange Agreement dated as of August 20, 1996 (as so\namended, the 'Exchange Agreement').\n\n         B.      The parties hereto desire to amend certain provisions of the\nExchange Agreement as provided in this Second Amendment.\n\n         Now, therefore, for and in consideration of the mutual covenants and\nagreements set forth in this Second Amendment and for other good and valuable\nconsideration, the receipt and sufficiency of which are hereby acknowledged,\nthe parties hereto hereby agree as follows:\n\n         1.      Amendment to Section 9.1(c).  Clause (vi) of Section 9.1(c) of\nthe Exchange Agreement is hereby deleted in its entirety and is hereby replaced\nwith the following:\n\n                 (vi)     the Initial Order (A) shall not have been entered on\n                          or before November 15, 1996 and (B) shall not have\n                          become a Final Order on or before November 26, 1996;\n\n         2.      Effect of Order.  The Bankruptcy Court has entered the order\nattached hereto as Exhibit A (the 'Order').  The Order shall constitute an\namendment to the provisions of the Exchange Agreement providing for a\nTermination Fee, if and only if a Higher and Better Transaction (as defined in\nthe Order) is approved or confirmed by the Bankruptcy Court.\n\n         3.      Definitions.  Defined terms used herein but which are not\nexpressly defined herein, shall have the meaning given such terms in the\nExchange Agreement.\n\n         4.      Amendment.  This Second Amendment constitutes an amendment to\nthe Exchange Agreement pursuant to Section 10.7 of the Exchange Agreement.\nExcept as expressly amended by this Second Amendment, each and every provision\nof the Exchange Agreement remains in full force\n\n\n\n\n\n                                       1\n\nand effect in accordance with the terms thereof and, by reference, the terms\nand provisions of the Exchange Agreement are incorporated herein and made a\npart hereof.\n\n         5.      Effective Date.  The terms and provisions of this Second\nAmendment shall be effective as of August 29, 1996.\n\n         IN WITNESS WHEREOF, this Second Amendment has been signed by each of\nthe parties hereto, all as of September 5, 1996.\n\n\n                              PRESIDIO OIL COMPANY                           \n                                                                             \n                              By:      \/s\/ Robert L. Smith                 \n                                 --------------------------------------------\n                              Name:        Robert L. Smith                   \n                                   ------------------------------------------\n                              Title:   President and Chief Operating Officer \n                                    -----------------------------------------\n                                                                             \n                                                                             \n                              PRESIDIO EXPLORATION, INC.                     \n                                                                             \n                              By:      \/s\/ Robert L. Smith                 \n                                 --------------------------------------------\n                              Name:        Robert L. Smith                   \n                                   ------------------------------------------\n                              Title:   President and Chief Operating Officer \n                                    -----------------------------------------\n\n\n                              PRESIDIO WEST VIRGINIA, INC.                   \n                                                                             \n                              By:      \/s\/ Robert L. Smith                 \n                                 --------------------------------------------\n                              Name:        Robert L. Smith                   \n                                   ------------------------------------------\n                              Title:   President and Chief Operating Officer \n                                    -----------------------------------------\n\n                                                                             \n                              PALISADE OIL, INC.                             \n                                                                             \n                              By:      \/s\/ Robert L. Smith                 \n                                 --------------------------------------------\n                              Name:        Robert L. Smith                   \n                                   ------------------------------------------\n                              Title:   President and Chief Operating Officer \n                                    -----------------------------------------\n\n                                                                             \n                              TOM BROWN, INC.                                \n                                                                             \n                              By:      \/s\/ W. R. Granberry                 \n                                 --------------------------------------------\n                              Name:        W. R. Granberry                   \n                                   ------------------------------------------\n                              Title:   President                             \n                                    -----------------------------------------\n                                                                             \n\n\n\n\n                                       2\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6962],"corporate_contracts_industries":[9409],"corporate_contracts_types":[9622,9626],"class_list":["post-43405","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-brown-tom-inc","corporate_contracts_industries-energy__exploration","corporate_contracts_types-planning","corporate_contracts_types-planning__merger"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/43405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=43405"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=43405"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=43405"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=43405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}