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DOCUMENT TITLE:  HEDGING TRANSACTIONS AND GUARANTY .
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Clause Heading
Section 2.01 - Natural Gas Hedging Transactions.
Section 2.02 - Sleeved Natural Gas Hedging Transactions.
Section 2.03 - MxEnergy-VPEM Natural Gas Hedging Transactions.
Section 2.04 - SESCo Hedging Transactions.
Section 2.05 - Natural Gas Put Options.
Section 2.06 - Restrictions on Commitments; Hedging Position and Related Covenants; Hedging Disclosures; Exclusivity of Facility.
Section 2.07 - Extension and Termination of Commitments; Termination of Agreement.
(b) - Conditions to Commitment Extension Effective Date.
(c) - Termination of Commitments by Hedge Provider.
(d) - Termination of Commitments by Counterparty.
(e) - Termination of Agreement.
(a) - Management Fees.
(b) - Structuring Fee.
(c) - Other Fees.
(d) - Payment of Fees.
Section 2.09 - Existing Hedge Provider Counterparty Hedging Transactions.
(a) - Increased Costs Generally.
(b) - Capital Requirements.
(c) - Certificates for Reimbursement.
(d) - Delay in Requests.
(a) - Payment Procedures.
(b) - Computations.
(c) - Non-Business Day Payments.
Section 3.01 - Initial Conditions Precedent.
(a) - Documentation.
(vi) - Amendment No.
(b) - Payment of Fees, Costs, Expenses and Other Amounts.
(c) - Due Diligence; Corporate Structure.
(d) - Security Documents.
(e) - Financial Statements.
(f) - Authorizations and Approvals.
(g) - ISDA Documents.
(h) - MxEnergy-VPEM Hedging Transactions.
(i) - Existing VPEM Credit Support.
(j) - Restated Credit Facility.
(k) - SESCO Acquisition Transaction.
(l) - No Proceeding or Litigation; No Injunctive Relief.
(m) - No Potential Event of Default or Specified Event.
(n) - Initial Hedging Facility Collateral Requirement.
(o) - Representations and Warranties.
(p) - No Material Adverse Effect.
Section 3.02 - Conditions Precedent to MxEnergy-VPEM Novation Transactions.
(b) - MxEnergy-VPEM Novation Hedging Transactions.
(c) - No Potential Event of Default or Specified Event.
(d) - Payment of Fees, Costs, Expenses and Other Amounts.
Section 3.03 - Conditions Precedent to Each Hedging Transaction.
ARTICLE IV - REPRESENTATIONS AND WARRANTIES
Section 4.01 - Existence; Subsidiaries.
Section 4.02 - Power and Authority.
Section 4.03 - Authorization and Approvals.
Section 4.04 - Enforceable Obligations.
Section 4.05 - Financial Statements; No Material Adverse Effect.
Section 4.06 - Disclosure.
Section 4.07 - Litigation.
Section 4.08 - Compliance with Laws.
Section 4.09 - No Default.
Section 4.10 - Subsidiaries; Corporate Structure.
Section 4.11 - Condition of Properties.
Section 4.12 - MxEnergy VPEM Hedging Transactions.
Section 4.13 - Insurance.
Section 4.14 - Taxes.
Section 4.15 - Security Interests.
Section 4.16 - Solvency.
Section 4.17 - Senior Obligations.
Section 4.18 - Investment Company Act.
Section 4.19 - Names and Locations.
Section 4.20 - Revisions or Updates to the Schedules.
Section 4.21 - SESCo Acquisition.
ARTICLE V - AFFIRMATIVE COVENANTS
Section 5.01 - Preservation of Existence, Etc.
Section 5.02 - Compliance with Laws, Etc.
Section 5.03 - Maintenance of Property.
Section 5.04 - Maintenance of Insurance.
Section 5.05 - Payment of Taxes, Etc.
Section 5.06 - Reporting Requirements.
(a) - Audited Annual Financial Statements.
(b) - Monthly Financial Statements.
(c) - Daily Actual and Forecasted End User Requirements.
(d) - Commodity Hedge Agreements.
(e) - End User and Inventory Positions.
(f) - Collateral Valuation Reports.
(g) - Hedge Reconciliation Reports.
(h) - Risk Management Policy Certification and Report.
(i) - Customer Forecasts.
(j) - USA Patriot Act.
(k) - Other Information.
Section 5.07 - Other Notices.
(a) - Defaults.
(b) - Credit Agreement Notices.
(c) - Material Changes.
Section 5.08 - Books and Records; Inspection.
Section 5.09 - Nature of Business.
Section 5.10 - Risk Management Policy.
Section 5.11 - Additional Guarantors.
Section 5.12 - Further Assurances.
Section 5.13 - Account Control Agreement.
ARTICLE VI - NEGATIVE COVENANTS
Section 6.01 - Credit Agreement Negative and Financial Covenants.
Section 6.02 - Limitation on Natural Gas Hedge Agreements.
Section 6.03 - Limitation on Speculative Hedge Agreements and Positions.
Section 6.04 - Additional Limitations on Liens; Hedging Facility Collateral.
Section 6.05 - Additional Limitations on Dispositions of Collateral Account Property.
Section 6.06 - Restrictive Agreements.
Section 6.07 - Sale and Leaseback Transactions and other Off-Balance Sheet Liabilities.
Section 6.08 - Subordinated Debt.
Section 7.01 - Specified Events.
Section 7.02 - Rights and Remedies.
Section 7.03 - Non-Exclusivity of Rights and Remedies.
Section 7.04 - Collateral Account.
Section 8.01 - Guaranteed Obligations.
Section 8.02 - Nature of Guaranty.
Section 8.03 - Hedge Providers Rights.
(a) - General.
(b) - Marshalling, etc.
(c) - Subrogation.
Section 8.05 - Maturity of Obligations, Payment.
Section 8.06 - Hedge Providers Expenses.
Section 8.07 - Liability.
Section 8.08 - Events and Circumstances Not Reducing or Discharging any Guarantors Obligations.
(a) - Modifications, etc.
(b) - Adjustment, etc.
(c) - Condition of the Counterparty or any Guarantor.
(d) - Invalidity of Obligations.
(e) - Release of Obligors.
(f) - Other Security.
(g) - Release of Collateral etc.
(h) - Care and Diligence.
(i) - Status of Liens.
(j) - Payments Rescinded.
(k) - Other Actions Taken or Omitted.
Section 8.09 - Subordination of All Guarantor Claims.
Section 8.10 - Claims in Bankruptcy.
Section 8.11 - Payments Held in Trust.
Section 8.12 - Benefit of Guaranty.
Section 8.13 - Reinstatement.
Section 8.14 - Liens Subordinate.
Section 8.15 - Guarantors Enforcement Rights.
Section 8.16 - Limitation.
Section 8.17 - Contribution Rights.
Section 8.18 - Release of Guarantors.
Section 9.01 - Amendments, Etc.
(b) - Effectiveness of Facsimile Documents and Signatures.
(c) - Limited Use of Electronic Mail.
(d) - Reliance by Hedge Provider.
Section 9.03 - No Waiver; Cumulative Remedies.
Section 9.04 - Costs and Expenses.
Section 9.05 - Indemnification.
Section 9.06 - Successors and Assigns.
Section 9.07 - Confidentiality.
Section 9.08 - Execution in Counterparts.
Section 9.09 - Survival of Representations, etc.
Section 9.10 - Severability.
Section 9.11 - Interest Rate Limitation.
Section 9.12 - Governing Law.
Section 9.13 - Submission to Jurisdiction.
Section 9.14 - Waiver of Jury Trial.
Section 9.15 - Entire Agreement.