<SEC-DOCUMENT>0001206774-18-002047.txt : 20180719
<SEC-HEADER>0001206774-18-002047.hdr.sgml : 20180719
<ACCEPTANCE-DATETIME>20180719170759
ACCESSION NUMBER:		0001206774-18-002047
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180717
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180719
DATE AS OF CHANGE:		20180719

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW JERSEY RESOURCES CORP
		CENTRAL INDEX KEY:			0000356309
		STANDARD INDUSTRIAL CLASSIFICATION:	NATURAL GAS DISTRIBUTION [4924]
		IRS NUMBER:				222376465
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08359
		FILM NUMBER:		18960964

	BUSINESS ADDRESS:	
		STREET 1:		1415 WYCKOFF RD
		STREET 2:		PO BOX 1468
		CITY:			WALL
		STATE:			NJ
		ZIP:			07719
		BUSINESS PHONE:		7329381000

	MAIL ADDRESS:	
		STREET 1:		1415 WYCKOFF ROAD
		STREET 2:		P O BOX 1468
		CITY:			WALL
		STATE:			NJ
		ZIP:			07719
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>njr3449461-8k.htm
<DESCRIPTION>CURRENT REPORT
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<P style="TEXT-ALIGN: center"><B><FONT size=5 face="Times New Roman">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=3 face="Times New Roman">Washington, DC 20549</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=5 face="Times New Roman">FORM 8-K</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=3 face="Times New Roman">CURRENT REPORT</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=3 face="Times New Roman">PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>

<P style="TEXT-ALIGN: center"><FONT size=3 face="Times New Roman">Date of Report (Date of earliest event reported): July 17, 2018</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT size=5 face="Times New Roman">NEW JERSEY RESOURCES CORPORATION<BR></FONT></B><FONT size=2 face="Times New Roman">(Exact Name of registrant as specified in its charter)</FONT></P>

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   <TD width="32%" noWrap align=center><B><FONT size=2 face="Times New Roman">New Jersey</FONT></B></TD>

   <TD width="1%" noWrap align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="34%" noWrap align=center><B><FONT size=2 face="Times New Roman">001-08359</FONT></B></TD>

   <TD width="1%" noWrap align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="32%" noWrap align=center><B><FONT size=2 face="Times New Roman">22-2376465</FONT></B></TD></TR>

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   <TD width="32%" noWrap align=center><FONT size=2 face="Times New Roman">(State or Other</FONT></TD>

   <TD width="1%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="34%" noWrap align=center><FONT size=2 face="Times New Roman">(Commission</FONT></TD>

   <TD width="1%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="32%" noWrap align=center><FONT size=2 face="Times New Roman">(IRS Employer</FONT></TD></TR>

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   <TD width="32%" noWrap align=center><FONT size=2 face="Times New Roman">Jurisdiction</FONT></TD>

   <TD width="1%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="34%" noWrap align=center><FONT size=2 face="Times New Roman">File Number)</FONT></TD>

   <TD width="1%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="32%" noWrap align=center><FONT size=2 face="Times New Roman">Identification No.)</FONT></TD></TR>

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   <TD width="32%" noWrap align=center><FONT size=2 face="Times New Roman">of Incorporation)</FONT></TD>

   <TD width="1%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

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   <TD width="1%" noWrap align=left></TD>

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   <TD width="32%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="34%" noWrap align=left>&nbsp;</TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="32%" noWrap align=left></TD></TR></TABLE></DIV>


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   <TD width="70%" noWrap align=center><B><FONT size=2 face="Times New Roman">1415 Wyckoff Road</FONT></B></TD>

   <TD width="1%" noWrap align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="29%" noWrap align=left></TD></TR>

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   <TD width="70%" noWrap align=center><B><FONT size=2 face="Times New Roman">Wall, New Jersey</FONT></B></TD>

   <TD width="1%" noWrap align=center><B><FONT size=2 face="Times New Roman"></FONT></B></TD>

   <TD width="29%" noWrap align=center><B><FONT size=2 face="Times New Roman">07719</FONT></B></TD></TR>

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   <TD width="70%" noWrap align=center><FONT size=2 face="Times New Roman">(Address of Principal Executive Offices)</FONT></TD>

   <TD width="1%" noWrap align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="29%" noWrap align=center><FONT size=2 face="Times New Roman">(Zip Code)</FONT></TD></TR></TABLE></DIV>


<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">(732) 938-1480<BR></FONT></B><FONT size=2 face="Times New Roman">(Registrant&#8217;s telephone number, including area code)</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>

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   <TD STYLE="vertical-align: top; width: 1%; text-align: left"><FONT size=2 face="Times New Roman">[&nbsp;&nbsp;] </FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><FONT size=2 face="Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>


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   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">[&nbsp;&nbsp;] </FONT></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>


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   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">[&nbsp;&nbsp;] </FONT></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>


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   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">[&nbsp;&nbsp;] </FONT></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>


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   <TD width="100%" colSpan=2 align=right>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=2 align=right><FONT size=2 face="Times New Roman"></FONT>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</FONT></P></TD></TR>

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   <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD></TR>
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   <TD NOWRAP STYLE="width: 99%; text-align: right"><FONT size=2 face="Times New Roman">Emerging growth company&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD NOWRAP STYLE="width: 1%; text-align: right"><FONT size=2 face="Times New Roman">[&nbsp;&nbsp;]</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">
   <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
   <TD NOWRAP STYLE="text-align: right">&nbsp;</TD></TR>
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   <TD width="100%" colSpan=2 align=right><FONT size=2 face="Times New Roman"></FONT>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </FONT><FONT size=2 face="Times New Roman">[&nbsp;&nbsp;]</FONT></P></TD></TR></TABLE>
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<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Item 1.01 Entry into a Material Definitive Agreement</FONT></B></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">On July 17, 2018, New Jersey Resources Corporation (&#8220;NJR&#8221; or the &#8220;Borrower&#8221;), as borrower, and certain of NJR&#8217;s unregulated subsidiaries, as guarantors (the &#8220;Guarantors&#8221;), entered into the First Amendment to Credit Agreement (the &#8220;First Amendment&#8221;), which amends the $100,000,000 Credit Agreement, dated as of August 18, 2017 (the &#8220;Credit Agreement&#8221;) with the lenders party thereto and U.S. Bank National Association, as administrative agent for the lenders. For a description of the Credit Agreement, see NJR&#8217;s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 18, 2017.</FONT></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">Pursuant to and subject to the terms of the First Amendment, the Credit Agreement was amended to permit the disposition of assets relating to sale/leaseback or other similar tax equity financing arrangements of meter assets or of solar or wind facilities so long as at the time of the such sale/leaseback or similar arrangement, the Borrower is in compliance with a maximum leverage ratio (consolidated total indebtedness to consolidated total capitalization as defined in the Credit Agreement), of not more than 0.65 to 1.00 at any time both before and after such incurrence and that no event of default (as defined in the Credit Agreement) may be caused by such sale/leaseback or similar arrangement.</FONT></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">The above description of the First Amendment is qualified in its entirety by reference to the entire First Amendment attached hereto as Exhibit 10.1 and incorporated by reference.</FONT></P>

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<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Item 9.01. Financial Statements and Exhibits</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(d) Exhibits.</FONT></P>

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   <TD vAlign=middle width="1%" noWrap align=left><FONT style="border-bottom: 1pt solid black; padding-bottom: 1pt" size=2 face="Times New Roman">Exhibit Number</FONT></TD>

   <TD vAlign=middle width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=middle width="98%" noWrap align=left><FONT size=2 face="Times New Roman" style="border-bottom: 1pt solid black; padding-bottom: 1pt">Exhibit</FONT></TD></TR>

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   <TD STYLE="vertical-align: middle; width: 1%; text-align: center; background-color: Silver; padding-top: 1pt; padding-bottom: 1pt"><FONT size=2 face="Times New Roman">10.1</FONT></TD>

   <TD STYLE="vertical-align: middle; width: 1%; text-align: left; background-color: Silver; padding-top: 1pt; padding-bottom: 1pt"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: middle; width: 98%; text-align: justify; background-color: Silver; padding-top: 1pt; padding-bottom: 1pt"><FONT size=2 face="Times New Roman">First Amendment to Credit Agreement, dated as of July 17, 2018, by and among New Jersey Resources Corporation and the guarantors party thereto, the lenders party thereto and U.S. Bank National Association, in its capacity as administrative agent for the lenders</FONT></TD></TR></TABLE>
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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">SIGNATURE</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>

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   <TD NOWRAP STYLE="text-align: left"></TD>

   <TD COLSPAN="3" NOWRAP STYLE="text-align: left"><FONT size=2 face="Times New Roman">NEW JERSEY RESOURCES CORPORATION</FONT></TD></TR>

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   <TD COLSPAN="4">&nbsp;</TD></TR>

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   <TD NOWRAP STYLE="width: 50%; text-align: left"><FONT size=2 face="Times New Roman">Date: July 19, 2018</FONT></TD>

   <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD NOWRAP STYLE="width: 20%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Patrick J. Migliaccio</FONT></TD>

   <TD NOWRAP STYLE="width: 29%; text-align: left">&nbsp;</TD></TR>

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   <TD NOWRAP STYLE="text-align: left"></TD>

   <TD NOWRAP STYLE="text-align: left"><FONT size=2 face="Times New Roman">Patrick J. Migliaccio</FONT></TD>

   <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>

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   <TD NOWRAP STYLE="text-align: left"></TD>

   <TD NOWRAP STYLE="text-align: left"><FONT size=2 face="Times New Roman">Senior Vice President and Chief Financial</FONT></TD>

   <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>

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   <TD NOWRAP STYLE="text-align: left"></TD>

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   <TD NOWRAP STYLE="text-align: left"><FONT size=2 face="Times New Roman">Officer</FONT></TD>

   <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR></TABLE>
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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">EXHIBIT INDEX</FONT></B></P>

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   <TD width="1%" noWrap align=left><FONT style="border-bottom: 1pt solid black;" size=2 face="Times New Roman"><B>Exhibit Number</B></FONT></TD>

   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="98%" noWrap align=left><FONT style="border-bottom: 1pt solid black;" size=2 face="Times New Roman"><B>Exhibit </B></FONT></TD></TR>

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   <TD STYLE="vertical-align: middle; width: 1%; text-align: center; background-color: Silver; padding-top: 1pt; padding-bottom: 1pt"><A HREF="njr3449461-ex101.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">10.1</FONT></A></TD>

   <TD STYLE="vertical-align: middle; width: 1%; text-align: left; background-color: Silver; padding-top: 1pt; padding-bottom: 1pt"></TD>

   <TD STYLE="vertical-align: middle; width: 98%; text-align: justify; background-color: Silver; padding-top: 1pt; padding-bottom: 1pt"><A HREF="njr3449461-ex101.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">First Amendment to Credit Agreement, dated as of July 17, 2018, by and among New Jersey Resources Corporation and the guarantors party thereto, the lenders party thereto and U.S. Bank National Association, in its capacity as administrative agent for the lenders</FONT></A></TD></TR></TABLE>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>njr3449461-ex101.htm
<DESCRIPTION>FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF JULY 17, 2018
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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">FIRST AMENDMENT TO<BR>CREDIT AGREEMENT</FONT></B></P>
<P STYLE="text-align: justify; text-indent: 15pt"><B><FONT size=2 face="Times New Roman">THIS FIRST AMENDMENT TO CREDIT AGREEMENT </FONT></B><FONT size=2 face="Times New Roman">(the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Amendment</FONT></U><FONT size=2 face="Times New Roman">&#8221;), dated as of July 17, 2018, is made by and among </FONT><B><FONT size=2 face="Times New Roman">NEW JERSEY RESOURCES CORPORATION</FONT></B><FONT size=2 face="Times New Roman">, a New Jersey corporation (the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Borrower</FONT></U><FONT size=2 face="Times New Roman">&#8221;), the Guarantors party hereto, the Lenders party hereto, </FONT><B><FONT size=2 face="Times New Roman">U.S. BANK NATIONAL ASSOCIATION</FONT></B><FONT size=2 face="Times New Roman">, in its capacity as administrative agent for the Lenders (hereinafter referred to in such capacity as the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Agent</FONT></U><FONT size=2 face="Times New Roman">&#8221;) and the Lenders (as hereinafter defined) party hereto.</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">W I T N E S S E T H</FONT></B><FONT size=2 face="Times New Roman">:</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">WHEREAS, the Borrower is a party to that certain $100,000,000 Credit Agreement, dated as of August 18, 2017, by and among the Borrower, the Guarantors party thereto, the lender party thereto (the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Lenders</FONT></U><FONT size=2 face="Times New Roman">&#8221;) and the Agent as administrative agent for the Lenders (as amended, restated or otherwise modified in accordance with its terms, the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Credit Agreement</FONT></U><FONT size=2 face="Times New Roman">&#8221;);</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">WHEREAS, the Borrower has requested certain amendments and modifications to the terms of the Credit Agreement, as more fully set forth herein; and</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">WHEREAS, the Agent and Required Lenders are willing to so amend the Credit Agreement, on the terms and conditions hereinafter provided.</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">NOW, THEREFORE, the parties hereto, in consideration of their mutual covenants and agreements hereinafter set forth and intending to be legally bound hereby, covenant and agree as follows:</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><B><FONT size=2 face="Times New Roman">1. Definitions. </FONT></B><FONT size=2 face="Times New Roman">Capitalized
terms used herein unless otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement as amended
by this Amendment.</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><B><FONT size=2 face="Times New Roman">2. Amendments to Credit Agreement.
Additional Definitions. </FONT></B><FONT size=2 face="Times New Roman">Section 1.1 of the Credit Agreement is hereby amended
by adding in appropriate alphabetical order the following new definitions of &#8220;First Amendment&#8221; and &#8220;First
Amendment Effective Date&#8221; to read as follows:</FONT></P>
<P STYLE="text-align: justify; margin-left: 15pt"><U><FONT size=2 face="Times New Roman">First Amendment</FONT></U><FONT size=2 face="Times New Roman"> shall mean the First Amendment to Credit Agreement, dated as of July 17, 2018, among the Borrower, the Guarantors, the Lenders party thereto, and the Administrative Agent.</FONT></P>
<P STYLE="text-align: justify; margin-left: 15pt"><U><FONT size=2 face="Times New Roman">First Amendment Effective Date</FONT></U><FONT size=2 face="Times New Roman"> shall mean the date on which the conditions precedent to the effectiveness of the First Amendment have been satisfied or waived and the First Amendment has become effective.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">First Amendment to New Jersey Resources Corporation Amended and Restated Credit Agreement</FONT></P>
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<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman"><B><FONT size=2 face="Times New Roman">2.2 Disposition of Assets.</FONT></B><FONT size=2 face="Times New Roman"> Section 8.2.6 [Dispositions of Assets or Unregulated Subsidiaries] of the Credit Agreement is hereby amended by amending and restating clause (viii) in its entirety to read as follows:</FONT></FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt; margin-left: 15pt"><FONT size=2 face="Times New Roman">(viii) any sale/leaseback or other similar tax equity financing arrangement of meter assets or of solar or wind facilities so long as at the time of the such sale/leaseback or similar arrangement, the Borrower is in compliance with Section 8.2.12 [Maximum Leverage Ratio] both before and after such incurrence and no Event of Default may be caused thereby; and</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><B><FONT size=2 face="Times New Roman">2.3 Cross-Default. </FONT></B><FONT size=2 face="Times New Roman">Section 9.1.6 [Defaults in Other Agreements or Indebtedness] of the Credit Agreement is hereby amended and restated in its entirety to read as follows:</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">9.1.6 </FONT><U><FONT size=2 face="Times New Roman">Defaults in Other Agreements or Indebtedness</FONT></U><FONT size=2 face="Times New Roman">.</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt; margin-left: 15pt"><FONT size=2 face="Times New Roman">(i) A default or event of default shall occur at any time under the terms of any other agreement involving borrowed money or the extension of credit or any other Indebtedness under which any Loan Party or Subsidiary of any Loan Party may be obligated as a borrower or guarantor (including without limitation sale/leaseback transactions, Synthetic Leases or other similar tax equity financing arrangement entered, in any case, with respect to meter assets or solar or wind facilities) in excess of $15,000,000 in the aggregate, and such breach, default or event of default consists of the failure to pay (beyond any period of grace permitted with respect thereto, whether waived or not) any indebtedness when due (whether at stated maturity, by acceleration or otherwise) or if such breach or default permits or causes the acceleration of any indebtedness (whether or not such right shall have been waived) or the termination of any commitment to lend;</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt; margin-left: 15pt"><FONT size=2 face="Times New Roman">(ii) There shall occur under the NJNG Credit Agreement or the NJR Revolving Credit Agreement an "</FONT><U><FONT size=2 face="Times New Roman">Event of Default</FONT></U><FONT size=2 face="Times New Roman">" (as such term is defined in the NJNG Credit Agreement or the NJR Revolving Credit Agreement, respectively); or</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt; margin-left: 15pt"><FONT size=2 face="Times New Roman">(iii) A default or event of default shall occur at any time under the terms of any agreement involving any off balance sheet transaction (including any asset securitization, sale/leaseback transaction, or Synthetic Lease (other than any sale/leaseback transaction, Synthetic Lease or other similar tax equity financing arrangement entered into, in any case, with respect to meter assets or solar or wind facilities and which transaction is otherwise permitted by this Agreement)) with obligations in the aggregate thereunder for which any Loan Party or Subsidiary of any Loan Party may be obligated in excess of $15,000,000, and such breach, default or event of default consists of the failure to pay (beyond any period of grace permitted with respect thereto, whether waived or not) any obligation when due (whether at stated maturity, by acceleration or otherwise) or if such breach or default permits or causes the acceleration of any obligation (whether or not such right shall have been waived) or the termination of any such agreement;</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">2</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman"><B><FONT size=2 face="Times New Roman">3. Conditions of Effectiveness. </FONT></B><FONT size=2 face="Times New Roman">The effectiveness of the amendment to the Credit Agreement set forth in Section 2 of this Amendment is expressly conditioned upon satisfaction of the following conditions precedent:</FONT></FONT></P>
<P STYLE="text-align: justify; text-indent: 30pt"><FONT size=2 face="Times New Roman">(a) Agent shall have received (i) a counterpart of this Amendment, executed and delivered by a duly authorized officer of each Loan Party and (ii) signature pages to this Amendment, executed and delivered by Lenders constituting the Required Lenders; and</FONT></P>
<P STYLE="text-align: justify; text-indent: 30pt"><FONT size=2 face="Times New Roman">(b) Both before and after giving effect to this Amendment, the representations and warranties of the Borrower and the other Loan Parties contained in Section 6 of the Credit Agreement (other than the representations and warranties contained in the first sentence of Section 6.1.6 [Litigation], the last sentence of Section 6.1.8.2 [Historical Statements; No Material Adverse Change], and Section 6.1.21 [Environmental Matters]) and in each of the other Loan Documents shall be true and accurate as of the date hereof with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein), and the Loan Parties shall have performed and complied with all covenants and conditions hereof, and no Event of Default or Potential Default under the Credit Agreement and the other Loan Documents shall have occurred and be continuing or shall exist.</FONT></P>
<P STYLE="text-align: justify; text-indent: 15pt"><B><FONT size=2 face="Times New Roman">4. Miscellaneous.</FONT></B></P>
<P STYLE="text-align: justify; text-indent: 30pt"><FONT size=2 face="Times New Roman">(a) </FONT><U><FONT size=2 face="Times New Roman">Force and Effect; Reaffirmation</FONT></U><FONT size=2 face="Times New Roman">. Any reference to the Credit Agreement in any Loan Document or any other document, instrument, or agreement shall hereafter mean and include the Credit Agreement as amended hereby, and this Amendment shall be considered a Loan Document. The Credit Agreement (as amended hereby) and each of the other Loan Documents are hereby ratified and confirmed and are in full force and effect, and the Borrower and Guarantors hereby reaffirm all of their obligations under the Credit Agreement (as amended hereby) and other Loan Documents to which they are party.</FONT></P>
<P STYLE="text-align: justify; text-indent: 30pt"><FONT size=2 face="Times New Roman">(b) </FONT><U><FONT size=2 face="Times New Roman">Counterparts</FONT></U><FONT size=2 face="Times New Roman">. This Amendment may be signed in any number of counterpart copies and by the parties to this Amendment on separate counterparts, but all such copies shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart. Upon written request by the other party (which may be made by electronic mail), any party so executing this Amendment by facsimile transmission shall promptly deliver a manually executed counterpart, provided that any failure to do so shall not affect the validity of the counterpart executed by facsimile transmission.</FONT></P>
<P STYLE="text-align: justify; text-indent: 30pt"><FONT size=2 face="Times New Roman">(c) </FONT><U><FONT size=2 face="Times New Roman">Governing Law</FONT></U><FONT size=2 face="Times New Roman">. This Amendment shall, pursuant to New York General Obligations Law Section 5-1401, for all purposes be governed by and construed and enforced in accordance with the laws of the State of New York.</FONT></P>
<P STYLE="text-align: justify; text-indent: 30pt"><FONT size=2 face="Times New Roman">(d) </FONT><U><FONT size=2 face="Times New Roman">Payment of Fees and Expenses</FONT></U><FONT size=2 face="Times New Roman">. The Loan Parties unconditionally agree to pay and reimburse the Agent and save the Agent harmless against liability for the payment of all out-of-pocket costs, expenses and disbursements, including without limitation to the Agent for itself the reasonable costs and expenses of the Agent including, without limitation, the reasonable fees and expenses of counsel incurred by the Agent in connection with the development, preparation, execution, administration, interpretation or performance of this Amendment, and all other documents or instruments to be delivered in connection herewith.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">[</FONT><I><FONT size=2 face="Times New Roman">Signatures begin on following page</FONT></I><FONT size=2 face="Times New Roman">]</FONT></FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">3</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties hereto have executed this Agreement as of the date first above written.</FONT></P>
<DIV align=right>
<TABLE style="WIDTH: 45%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">BORROWER:</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NEW JERSEY RESOURCES CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR RETAIL HOLDINGS CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Patrick M. Migliaccio</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Patrick M. Migliaccio</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Senior Vice President, Chief Financial Officer and</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR HOME SERVICES COMPANY</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Patrick M. Migliaccio</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Patrick M. Migliaccio</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Senior Vice President, Chief Financial Officer and</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">COMMERCIAL REALTY AND RESOURCES CORP.</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Patrick M. Migliaccio</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Patrick M. Migliaccio</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">President, Chief Financial Officer and Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR PLUMBING SERVICES, INC.</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Patrick M. Migliaccio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Patrick M. Migliaccio</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Senior Vice President, Chief Financial Officer and</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman" style="font-variant: small-caps">Signature Page<BR>
First Amendment to Credit Agreement<BR>
New Jersey Resources Corporation
</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

 <br>
<DIV align=right>
<TABLE style="WIDTH: 45%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">GUARANTORS, CONTINUED:</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">PHOENIX FUEL MANAGEMENT COMPANY</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Patrick M. Migliaccio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="54%"  align=left></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Patrick M. Migliaccio</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Senior Vice President, Chief Financial Officer and</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR SERVICE CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR ENERGY SERVICES COMPANY</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR STORAGE HOLDINGS COMPANY</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR MIDSTREAM HOLDINGS CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR ENERGY INVESTMENTS CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman" style="font-variant: small-caps">Signature Page<BR>
First Amendment to Credit Agreement<BR>
New Jersey Resources Corporation
</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<br>
<DIV align=right>
<TABLE style="WIDTH: 45%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">GUARANTORS, CONTINUED:</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR CLEAN ENERGY VENTURES CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR CLEAN ENERGY VENTURES II<BR>CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">NJR CLEAN ENERGY VENTURES III <BR>CORPORATION</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">CARROLL AREA WIND FARM, LLC</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">By: NJR Clean Energy Ventures II Corporation, its</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">sole member</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman" style="font-variant: small-caps">Signature Page<BR>
First Amendment to Credit Agreement<BR>
New Jersey Resources Corporation
</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

 <br>
<DIV align=right>
<TABLE style="WIDTH: 45%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">GUARANTORS, CONTINUED:</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">ALEXANDER WIND FARM, LLC</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">By: NJR Clean Energy Ventures II Corporation, its</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">sole member</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">RINGER HILL WIND LLC</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">By: NJR Clean Energy Ventures II Corporation, its</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">sole member</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">MEDICINE BOW WIND, LLC</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">By: NJR Clean Energy Ventures II Corporation, its</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">sole member</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">BERNARDS SOLAR, LLC</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">By: NJR Clean Energy Ventures II Corporation, its</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">sole member</FONT></B></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ James W. Kent</FONT></TD>
   <TD width="54%"  align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">James W. Kent</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Treasurer</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman" style="font-variant: small-caps">Signature Page<BR>
First Amendment to Credit Agreement<BR>
New Jersey Resources Corporation
</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<br>
<DIV align=right>
<TABLE style="WIDTH: 45%; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 border=0>

<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><B><FONT size=2 face="Times New Roman">U.S. BANK NATIONAL ASSOCIATION</FONT></B><FONT size=2 face="Times New Roman">,</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=3  align=left><FONT size=2 face="Times New Roman">individually and as Agent</FONT></TD></TR>
<TR>
   <TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD nowrap STYLE="width: 45%; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Kevin Murphy</FONT></TD>
   <TD width="54%"  align=left></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Name: Kevin Murphy</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%"  align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="99%" colSpan=2  align=left><FONT size=2 face="Times New Roman">Title: Assistant Vice President</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman" style="font-variant: small-caps">Signature Page<BR>
First Amendment to Credit Agreement<BR>
New Jersey Resources Corporation
</FONT></P>
<HR align=center width="100%" noShade size="2">


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