CHENIERE ENERGY INC
AMENDMENT TO CREDIT AGREEMENT
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>dex101.htm
<DESCRIPTION>AMENDMENT TO CREDIT AGREEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Amendment to Credit Agreement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.1 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>FIRST AMENDMENT TO CREDIT AGREEMENT </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this &#147;<U>First Amendment</U>&#148;) is entered into as of October 24, 2003 by
and among <B>CHENIERE ENERGY, INC.</B> (&#147;<U>Parent Borrower</U>&#148;), <B>CHENIERE LNG, INC. </B>(&#147;<U>Cheniere LNG</U>&#148;), <B>CHENIERE ENERGY OPERATING CO., INC., CHENIERE LNG SERVICES, INC. AND CHENIERE-GRYPHON MANAGEMENT, INC.</B>
(&#147;<U>Cheniere-Gryphon</U>&#148;), each a Delaware corporation, (each, individually, a &#147;<U>Borrower</U>&#148; and collectively, the &#147;<U>Borrowers</U>&#148;) and <B>STERLING BANK</B>, a Texas chartered banking association (the
&#147;<U>Bank</U>&#148;). Capitalized terms used but not defined in this Amendment have the meaning given them in the Credit Agreement (defined below). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>RECITALS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">A. Borrowers and Bank entered into that certain Credit Agreement dated as of July 25, 2003 (as amended, restated or supplemented the &#147;<U>Credit
Agreement</U>&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">B. Borrowers and Bank have agreed to
amend the Credit Agreement, subject to the terms and conditions of this Amendment. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned hereby agree as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">I. <U>Amendments to Credit Agreement</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>ARTICLE I, DEFINITIONS</U>, of the Credit Agreement is hereby amended by adding the following definition: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;<U>First Amendment</U>&#148; means the First Amendment
to Credit Agreement dated October 24, 2003 among Borrowers and Bank. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">&#147;<U>Borrowing Base Assets</U>&#148; means any Collateral covered by the Security Instruments other than Borrowing Base Oil and Gas Properties; <I>provided that</I>, with regard to the last sentence of <U>Section
2.05</U>(a) hereunder, the Borrowing Base Assets includes any Oil and Gas Property of any Borrower. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>ARTICLE I, DEFINITIONS</U>, of the Credit Agreement is hereby further amended by deleting the definitions of the following terms in their entirety:
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;<U>Periodic Borrowing Base
Reduction</U>&#148;; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;<U>Periodic
Borrowing Base Reduction Schedule</U>&#148;; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>ARTICLE I,
DEFINITIONS</U>, of the Credit Agreement is hereby further amended by revising the following definition to read as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;<U>Revolving Loan Termination Date</U>&#148; means December 31, 2004. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;<U>Current Assets</U>&#148; means at any time, all assets, that should in accordance with GAAP, be
classified as current assets on a consolidated balance sheet of Parent Borrower and its Subsidiaries. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">&#147;<U>Revolving Commitment Limit</U>&#148; means $2,000,000 as of the date of the First Amendment, but such amount may be increased by the Bank in its
sole discretion from time to time with the agreement of the Borrowers (a) should the Borrowers contribute additional assets other than Oil and Gas Properties of the Borrowers to the Borrowing Base Assets and/or additional Oil and Gas Properties of
the Borrowers to the Borrowing Base Oil and Gas Properties in accordance with this Agreement or (b) should the Borrowing Base, as determined in accordance with <U>Section 2.05</U>, ever exceed such amount. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>Section 2.05(a), Borrowing Base Determination</U>, of the Credit Agreement
is hereby amended by replacing the text of that section in its entirety with the following text: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) The Borrowing Base as of the date of the First Amendment is equal to $2,000,000. The portion of the Borrowing Base attributable to the
Borrowing Base Oil and Gas Properties is equal to $0 and the portion of the Borrowing Base attributable to the Borrowing Base Assets is equal to $2,000,000. Subject to the other provisions of this Agreement, the Borrowing Base attributable to the
Borrowing Base Assets shall be automatically reduced by the application of the provisions of<BR> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>Sections&nbsp;2.06(b)(i)</U>,
<U>(ii)</U>, <U>(iii)</U> and <U>(iv)</U> hereunder. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2"><U>Section 4.06, Owner of Borrowing Base Receivables and Title to Borrowing Base Oil and Gas Properties</U>, of the Credit Agreement is hereby amended by adding the following text at the end of that section: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The Borrowing Base Assets are free of all liens, security
interests and encumbrances. The respective Borrower has Marketable Title to the Borrowing Base Assets. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>ARTICLE V, AFFIRMATIVE COVENANTS</U><B><I>,</I></B> of the Credit Agreement is hereby amended by adding the following Sections 5.39, 5.40 and 5.41
thereto: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">5.39. <U>Oil and Gas Properties</U>.
Promptly, but in any event within seven (7) days of obtaining the lease interests in those certain Leases described on <U>Schedule 5.39</U> attached to the First Amendment, execute and deliver the Security Instruments requested by Bank sufficient to
grant Bank the liens and security interests in the Collateral related to such Leases. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">5.40. <U>Stock Certificate of Cheniere LNG</U>. Deliver, within thirty (30) days of the date of the First Amendment, to Bank an updated
stock certificate of Parent Borrower&#146;s ownership in Cheniere LNG in substitution of the stock certificate of CXY Corporation&#146;s ownership in Cheniere LNG delivered at Closing. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">5.41. <U>Consent and Agreement</U>. Deliver, within thirty (30) days of the date of the First Amendment, to
Bank a form, satisfactory to Bank, of a consent and agreement </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">executed by the general partner of Corpus Christi LNG, L.P. acknowledging and agreeing to the pledge of
Cheniere LNG&#146;s partnership interest in Corpus Christi LNG, L.P. and the transfer of such partnership interest upon the enforcement of Bank&#146;s rights under the applicable Security Instruments. Cheniere LNG further agrees to satisfy all
requirements under Section 15.1 of the Limited Partnership Agreement dated May 15, 2003 relating to the transfer of such partnership interest upon the enforcement of Bank&#146;s rights under the applicable Security Instruments. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>Section 6.04, Sales of Assets</U><B><I>,</I></B> of the Credit Agreement
is hereby amended by adding the following text &#147;, any Collateral&#148; immediately following the term &#147;Oil and Gas Properties&#148; therein. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The Credit Agreement is hereby further amended by replacing the term &#147;<U>Borrowing Base Receivables</U>&#148; with the term &#147;<U>Borrowing Base
Assets</U>&#148; in the definition of &#147;Borrowing Base Properties,&#148; Section 2.05(d), Section 3.03(C) and Section 5.25. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>Exhibit D</U> attached to the Credit Agreement is replaced with <U>Exhibit D</U> attached to the First Amendment. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><U>Schedule 2.05(a), Periodic Borrowing Base Reduction Schedule</U> is hereby
deleted in their entirety. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">II. <U>Conditions</U>. This
Amendment shall be effective once each of the following have been delivered to Bank: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">(a) this Amendment executed by Borrowers and Bank; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">(b) Security Instruments covering Cheniere LNG&#146;s partnership interest in Corpus Christi LNG, L.P.; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) such other documents as Bank may reasonably request. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">III. <U>Representations and Warranties</U>. Borrowers represent and warrant to Bank that (a) they possess all requisite power and authority to execute,
deliver and comply with the terms of this Amendment, (b) this Amendment has been duly authorized and approved by all requisite corporate action on the part of the Borrowers, (c) no other consent of any Person (other than Bank) is required for this
Amendment to be effective, (d) the execution and delivery of this Amendment does not violate their organizational documents, (e) the representations and warranties in each Loan Document to which they are a party are true and correct in all material
respects on and as of the date of this Amendment as though made on the date of this Amendment (<I>except</I> to the extent that such representations and warranties speak to a specific date), (f) it is in full compliance with all covenants and
agreements contained in each Loan Document to which it is a party, and (g) no Event of Default or Unmatured Event of Default has occurred and is continuing. The representations and warranties made in this Amendment shall survive the execution and
delivery of this Amendment. No investigation by Bank is required for Bank to rely on the representations and warranties in this Amendment. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">IV. <U>Scope of Amendment; Reaffirmation; Release</U>. All references to the Credit Agreement shall refer
to the Credit Agreement as amended by this Amendment. Except as affected by this Amendment, the Loan Documents are unchanged and continue in full force and effect. However, in the event of any inconsistency between the terms of the Credit Agreement
(as amended by this Amendment) and any other Loan Document, the terms of the Credit Agreement shall control and such other document shall be deemed to be amended to conform to the terms of the Credit Agreement. Borrowers hereby reaffirm their
obligations under the Loan Documents to which they are parties to and agree that all Loan Documents to which they are parties to remain in full force and effect and continue to be legal, valid, and binding obligations enforceable in accordance with
their terms (as the same are affected by this Amendment). Borrowers hereby release Bank from any liability for actions or omissions in connection with the Credit Agreement and the other Loan Documents prior to the date of this Amendment. </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">V. <U>Miscellaneous</U>. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>No Waiver of Defaults</U>. This Amendment does not
constitute (i) a waiver of, or a consent to, (A) any provision of the Credit Agreement or any other Loan Document not expressly referred to in this Amendment, or (B) any present or future violation of, or default under, any provision of the Loan
Documents, or (ii) a waiver of Bank&#146;s right to insist upon future compliance with each term, covenant, condition and provision of the Loan Documents. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) <U>Form</U>. Each agreement, document, instrument or other writing to be furnished Bank under any provision of this Amendment must be
in form and substance satisfactory to Bank and its counsel. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">(c) <U>Headings</U>. The headings and captions used in this Amendment are for convenience only and will not be deemed to limit, amplify or modify the terms of this Amendment, the Credit Agreement, or the other Loan
Documents. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(d) <U>Costs, Expenses and
Attorneys&#146; Fees</U>. Borrowers agree to pay or reimburse Bank on demand for all its reasonable out-of-pocket costs and expenses incurred in connection with the preparation, negotiation, and execution of this Amendment, including, without
limitation, the reasonable fees and disbursements of Bank&#146;s counsel. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">(e) <U>Successors and Assigns</U>. This Amendment shall be binding upon and inure to the benefit of each of the undersigned and their respective successors and permitted assigns. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(f) <U>Multiple Counterparts</U>. This Amendment may be
executed in any number of counterparts with the same effect as if all signatories had signed the same document. All counterparts must be construed together to constitute one and the same instrument. This Amendment may be transmitted and signed by
facsimile. The effectiveness of any such documents and signatures shall, subject to applicable law, have the same force and effect as manually-signed originals and shall be binding on Borrowers and Bank. Bank may also require that any such documents
and signatures be confirmed by a manually- </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">signed original; <I>provided that </I>the failure to request or deliver the same shall not limit the
effectiveness of any facsimile document or signature. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">(g) <U>Governing Law</U>. This Amendment and the other Loan Documents must be construed, and their performance enforced, under Texas law. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(h) <U>Entirety</U>. <B>T<SMALL>HE</SMALL> L<SMALL>OAN</SMALL> D<SMALL>OCUMENTS</SMALL> (<SMALL>AS</SMALL> <SMALL>AMENDED</SMALL>
<SMALL>HEREBY</SMALL>) R<SMALL>EPRESENT</SMALL> <SMALL>THE</SMALL> F<SMALL>INAL</SMALL> A<SMALL>GREEMENT</SMALL> B<SMALL>Y</SMALL> <SMALL>AND</SMALL> A<SMALL>MONG</SMALL> B<SMALL>ORROWERS</SMALL> <SMALL>AND</SMALL> B<SMALL>ANK</SMALL>
<SMALL>AND</SMALL> M<SMALL>AY</SMALL> N<SMALL>OT</SMALL> B<SMALL>E</SMALL> C<SMALL>ONTRADICTED</SMALL> <SMALL>BY</SMALL> E<SMALL>VIDENCE</SMALL> <SMALL>OF</SMALL> P<SMALL>RIOR</SMALL>, C<SMALL>ONTEMPORANEOUS</SMALL>, <SMALL>OR</SMALL>
S<SMALL>UBSEQUENT</SMALL> O<SMALL>RAL</SMALL> A<SMALL>GREEMENTS</SMALL> <SMALL>BY</SMALL> <SMALL>THE</SMALL> P<SMALL>ARTIES</SMALL>. T<SMALL>HERE</SMALL> A<SMALL>RE</SMALL> N<SMALL>O</SMALL> U<SMALL>NWRITTEN</SMALL> O<SMALL>RAL</SMALL>
A<SMALL>GREEMENTS</SMALL> <SMALL>AMONG</SMALL> <SMALL>THE</SMALL> P<SMALL>ARTIES</SMALL>.</B> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B><I>[Signatures appear on the next page.] </I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">5 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The Amendment is executed as of the date set out in the preamble to this Amendment. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD VALIGN="bottom" WIDTH="100%"><FONT FACE="Times New Roman" SIZE="2"><B>BORROWER:</B></FONT></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">CHENIERE ENERGY, INC.</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By: &nbsp;&nbsp;/s/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>ON</SMALL> A. T<SMALL>URKLESON</SMALL></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom" ALIGN="right" WIDTH="100%"><HR WIDTH="91%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Don A. Turkleson</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Secretary</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">CHENIERE LNG, INC.</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:&nbsp;&nbsp;/s/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>ON</SMALL> A. T<SMALL>URKLESON</SMALL></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom" ALIGN="right" WIDTH="100%"><HR WIDTH="91%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Don A. Turkleson</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Secretary</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">CHENIERE ENERGY OPERATING CO., INC.</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:&nbsp;&nbsp;/s/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>ON</SMALL> A. T<SMALL>URKLESON</SMALL></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom" ALIGN="right" WIDTH="100%"><HR WIDTH="91%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Don A. Turkleson</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Chief Financial Officer</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">CHENIERE LNG SERVICES, INC.</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:&nbsp;&nbsp;/s/&nbsp;&nbsp;&nbsp;&nbsp;D<SMALL>ON</SMALL> A. T<SMALL>URKLESON</SMALL></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom" ALIGN="right" WIDTH="100%"><HR WIDTH="91%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Don A. Turkleson</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Secretary</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">CHENIERE-GRYPHON MANAGEMENT, INC.</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:&nbsp;&nbsp;/s/&nbsp;&nbsp;&nbsp;&nbsp;C<SMALL>HARIF</SMALL> S<SMALL>OUKI</SMALL></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom" ALIGN="right" WIDTH="100%"><HR WIDTH="91%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Charif Souki</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">President</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">6 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">

<DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD VALIGN="bottom" WIDTH="100%"><FONT FACE="Times New Roman" SIZE="2"><B>BANK:</B></FONT></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">STERLING BANK</FONT></P></TD></TR>
<TR>
<TD HEIGHT="32"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:&nbsp;&nbsp;/s/&nbsp;&nbsp;&nbsp;&nbsp;C. S<SMALL>COTT</SMALL> W<SMALL>ILSON</SMALL></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom" ALIGN="right" WIDTH="100%"><HR WIDTH="91%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="right"></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">C. Scott Wilson</FONT></P></TD></TR>
<TR>
<TD VALIGN="top" WIDTH="100%"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Vice President</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">7 </FONT></P>

</BODY></HTML>

</TEXT>
</DOCUMENT>
