First Amendment to Loan Agreement dated as of February 1, 2009 between Isramco, Inc. and I.O.C.
Israel Oil Company, Ltd.($12.0 million)
FIRST AMENDMENT TO LOAN AGREEMENT
This FIRST AMENDMENT TO LOAN AGREEMENT (this “ First Amendment ”) executed effective
as of February 1, 2009 (the “ Effective Date ”), is between ISRAMCO, INC. , a corporation formed under the
laws of the State of Delaware, and I.O.C. – ISRAEL OIL COMPANY, LTD. , an Israeli limited company
(together with its successors and assigns “ Lender ”).
R E C I T A L S:
A. Borrower and Lender are parties to that certain Loan Agreement dated as of February 27,
2007 (the “Loan Agreement”), pursuant to which Lender agreed to make loans to and extensions of credit on
behalf of Borrower; and
B. Borrower and Lender desire to amend the Loan Agreement in the particulars hereinafter
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the
parties hereto agree as follows:
Terms Defined Above . As used in this First Amendment, each of the terms defined in
the opening paragraph and the Recitals above shall have the meaning assigned to such terms therein.
Terms Defined in Loan Agreement . Each term defined in the Loan Agreement and
used herein without definition shall have the meaning assigned to such term in the Loan Agreement, unless
expressly provided to the contrary.
Other Definitional Provisions .
The words “hereby”, “herein”, “hereinafter”, “hereof”, “hereto” and “hereunder”
when used in this First Amendment shall refer to this First Amendment as a whole and not to any
particular Article, Section, subsection or provision of this First Amendment.
Section, subsection and Exhibit references herein are to such Sections,
subsections and Exhibits to this First Amendment unless otherwise specified.