1. | Capitalized Terms. Capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Lease. |
2. | Partial Termination of Lease. Lessor and Lessee hereby agree that subject to the terms and conditions of this Agreement and as of the Effective Date, the Lease shall be terminated with respect to the Muskogee Facilities. From and after the Effective Date, “Facilities” as used in the Lease shall not include the Muskogee Facilities and any references to Lessor’s property located in Muskogee, Oklahoma shall be deleted from the Lease. |
3. | No Further Rights. By execution of this Agreement, Lessee acknowledges and agrees that, from and after the Effective Date, Lessee shall not have any further rights or interests in the Muskogee Facilities. |
4. | Mutual Release. Lessor and Lessee each release the other from all claims, demands, debts, and causes of action of whatever kind or nature, which have or could in the future arise due to the performance of their respective obligations under the Lease with respect to the Muskogee Facilities accruing after the Effective Date. |
5. | Broker. No outside broker has negotiated this Agreement nor is entitled to any commission in connection therewith, and Lessee and Lessor agree to indemnify and hold the other party harmless against any and all other claims for commissions by any broker used by such party in connection with this Agreement. |
6. | Full Force and Effect. The Lease, as modified hereby, remains in full force and effect without any further amendments, alterations or modifications thereto except as expressly set forth herein, and Lessor and Lessee |
7. | Counterparts. This Agreement may be signed in separate and multiple counterparts, each of which shall be considered an original, but all of which taken together shall constitute one and same instrument. |
LESSOR: | LESSEE: | |||
BKEP ASPHALT, L.L.C. | ERGON ASPHALT & EMULSIONS, INC. | |||
By: | /s/ Jeffery Speer | By: | /s/ J. Baxter Burns, II | |
Jeffery Speer | J. Baxter Burns, II | |||
Chief Operating Officer | President | |||
BKEP MATERIALS, L.L.C. | ||||
By: | /s/ Jeffery Speer | |||
Jeffery Speer | ||||
Chief Operating Officer |