BLUE DOLPHIN ENERGY CO - FORM 10-Q - EX-10.4 - LETTER AGREEMENT DATED SEPTEMBER 12, 2011 - May 21, 2012

Attached files

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10-Q - FORM 10-Q FOR QUARTERLY PERIOD ENDED MARCH 31, 2012 - BLUE DOLPHIN ENERGY COd348276d10q.htm
EX-10.3 - INTERCREDITOR AND SUBORDINATION AGREEMENT DATED SEPTEMBER 29, 2008 - BLUE DOLPHIN ENERGY COd348276dex103.htm
EX-10.2 - SUBORDINATION AGREEMENT EFFECTIVE AUGUST 21, 2008 BY NOTRE DAME INVESTORS, INC. - BLUE DOLPHIN ENERGY COd348276dex102.htm
EX-10.1 - LOAN AGREEMENT DATED SEPTEMBER 29, 2008 - BLUE DOLPHIN ENERGY COd348276dex101.htm
EXCEL - IDEA: XBRL DOCUMENT - BLUE DOLPHIN ENERGY COFinancial_Report.xls
EX-31.2 - SECTION 302 CERTIFICATION OF CFO - BLUE DOLPHIN ENERGY COd348276dex312.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CEO - BLUE DOLPHIN ENERGY COd348276dex311.htm
EX-32.2 - SECTION 906 CERTIFICATION OF CFO - BLUE DOLPHIN ENERGY COd348276dex322.htm
EX-10.7 - INTERCREDITOR AND SUBORDINATION AGREEMENT DATED AUGUST 12, 2011 - BLUE DOLPHIN ENERGY COd348276dex107.htm
EX-10.5 - FORBEARANCE AGREEMENT DATED AUGUST 12, 2011 - BLUE DOLPHIN ENERGY COd348276dex105.htm
EX-10.6 - PROMISSORY NOTE - BLUE DOLPHIN ENERGY COd348276dex106.htm
EX-32.1 - SECTION 906 CERTIFICATION OF CEO - BLUE DOLPHIN ENERGY COd348276dex321.htm

Exhibit 10.4

LETTER AGREEMENT

September 12, 2011

1St International Bank

1912 Avenue K

Plano, Texas 75074

Attn: John Shaver

Lazarus Energy LLC

3200 Southwest Freeway, Suite 3300

Houston, Texas 77027

Attn: Jonathan Carroll, Manager

Lazarus Energy Holdings LLC

3200 Southwest Freeway, Suite 3300

Houston, Texas 77027

Attn: Jonathan Carroll, Manager

 

  Re:

That certain Forbearance Agreement dated effective August 12, 2011 (the “Effective Date”) by and among 1st International Bank, a Texas state bank, (“1St International”), Lazarus Energy LLC, a Delaware limited liability company (“Lazarus”), Jonathan P. Carroll (“Jonathan Carroll”), Gina L. Carroll (“Gina Carroll”), Lazarus Energy Holdings LLC, a Delaware limited liability company (“Lazarus Holdings”), GEL Tex Marketing, LLC, a Delaware limited liability company (“GEL”), and Milam Services, Inc., a Delaware corporation (“MSI”) (1st International, Lazarus, Jonathan Carroll, Gina Carroll, Lazarus Holdings, GEL and MSI shall each be referred to herein individually as a “Party” and collectively as the “Parties”)

Gentlemen:

As you are aware, pursuant to the above referenced Forbearance Agreement (the “Forbearance Agreement”), the continued effectiveness of the Forbearance Agreement is conditioned upon consent to the Forbearance Agreement and the transactions contemplated therein by the United States Department of Agriculture (the “USDA”) pursuant to Section 12 of the Forbearance Agreement within thirty (30) days after the Effective Date. The Parties wish to extend the deadline for consent to the Forbearance Agreement by the USDA pursuant to the terms of this letter agreement.

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree to amend Section 12 of the Forbearance Agreement to provide that the deadline for consent by the USDA to the Forbearance Agreement and the transactions contemplated thereby shall be extended to sixty (60) days after the Effective Date from the original thirty (30) day deadline originally provided for in the Forbearance Agreement.

September 12, 2011

1St International Bank

Lazarus Energy LLC

Lazarus Energy Holdings LLC

Page 2 of 3

Except as modified by this letter agreement, all of the terms and conditions of the Forbearance Agreement are hereby ratified and confirmed and shall remain in full force and effect.

Facsimile or electronic mail delivery of this letter agreement signed by each Party to the others shall be binding and effective the same as if an original signed copy has been delivered by each Party to the others. This letter agreement may be executed in multiple counterparts, each of which shall be considered an original, and all of which together shall constitute one and the same document.

 

Sincerely,
GEL TEX MARKETING, LLC
By:  

 

Name:  

 

Title:  

 

MILAM SERVICES, INC.
By:  

 

Name:  

 

Title:  

 

ACKNOWLEDGED AND AGREED BY:

1sT INTERNATIONAL BANK, a

Texas state bank

By:   /s/ JOHN SHAVER                                                                     

        John Shaver, Vice President

September 12, 2011

1St International Bank

Lazarus Energy LLC

Lazarus Energy Holdings LLC

Page 3 of 3

ACKNOWLEDGED AND AGREED BY:

LAZARUS ENERGY LLC, a

Delaware limited liability company

By:   /s/ Jonathan Carroll                                                                         

        Jonathan Carroll, Manager

LAZARUS ENERGY HOLDINGS LLC,

a Delaware limited liability company

By: /s/ JONATHAN P. CARROLL                                                     

      Jonathan Carroll, Manager

/s/ JONATHAN P. CARROLL                                                           

Jonathan P. Carroll

/s/ GINA L. ARROLL                                                                         

Gina L. Carroll

BLUE DOLPHIN ENERGY CO Reports

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