[Marketing] EXHIBIT 10.26
AMENDMENT AND LIMITED CONSENT
Reference is hereby made to that certain Second Amended and Restated Credit Agreement dated as of
December 1, 1999 (as amended, restated or supplemented to the date hereof, the "Agreement") by and between
Plains Marketing, L.P., as Borrower ("Borrower"), All American Pipeline, L.P. ("All American"), Plains All
American Pipeline, L.P. ("Plains MLP"), and BankBoston, N.A., as Administrative Agent ("Administrative
Agent"), and certain financial institutions, as Lenders (collectively, "Lenders" and each, individually, a "Lender").
Terms used and not defined herein shall have the meanings given them in the Agreement.
Borrower has requested that Lenders consent to certain amendments to the Agreement.
AMENDMENT AND CONSENT:
Subject to the conditions and limitations set forth hereinbelow, each Lender signing below hereby consents to the
A. The last sentence of the definition of "Consolidated EBITDA" set forth in
Section 1.1 of the Agreement is hereby amended in its entirety to read as follows:
The term "Identified Loss Adjustment" means for any four-Fiscal Quarter period, the portion of the Identified
Loss incurred in such period not to exceed an aggregate amount of $180,000,000.
B. Section 7.15 of the Agreement is hereby amended in its entirety to read as follows:
Section 7.15 Debt to Capital Ratio. The ratio of (a) all Consolidated Funded Indebtedness to (b) the sum of
Consolidated Funded Indebtedness plus Consolidated Net Worth plus one-half (50%) of the Identified Loss will
never be greater than .60 to 1.0 at any time.
LIMITATIONS AND CONDITIONS:
1. Except as expressly waived or agreed herein, all covenants, obligations and agreements of Restricted Persons
contained in the Agreement shall remain in full force and effect in accordance with their terms. Without limitation
of the foregoing, the consents, waivers and agreements set forth herein are limited precisely to the extent set forth