Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT No. 2 to the THIRD AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT,
dated as of July 29, 2016 (this “Amendment”), among CF INDUSTRIES
HOLDINGS, INC., a Delaware corporation (“Holdings”), CF INDUSTRIES, INC., a
Delaware corporation (the “Company”), the LENDERS party hereto, the ISSUING
BANKS party hereto and MORGAN STANLEY SENIOR FUNDING, INC., as Administrative
Agent.

 

W I T N E S S E T H :

 

WHEREAS, the parties hereto have entered into that certain Third Amended and
Restated Revolving Credit Agreement, dated as of September 18, 2015 (as amended,
restated, supplemented or otherwise modified prior to the date hereof, the
“Existing Revolving Credit Agreement”; the Existing Revolving Credit Agreement
as amended by this Amendment, the “Amended Revolving Credit Agreement”), among
Holdings, the Company, the Lenders party thereto, the Administrative Agent and
the other parties thereto; and

 

WHEREAS, the parties hereto desire to amend the Existing Revolving Credit
Agreement as set forth herein;

 

NOW, THEREFORE, the parties hereto agree as follows:

 

Section 1.  Defined Terms; References.  Unless otherwise specifically defined
herein, each term used herein that is defined in the Amended Revolving Credit
Agreement has the meaning assigned to such term in the Amended Revolving Credit
Agreement.  Each reference in the Existing Revolving Credit Agreement to “this
Agreement”, “hereof”, “hereunder”, “herein” and “hereby” and each other similar
reference, and each reference in any other Loan Document to “thereof”,
“thereunder”, “therein” or “thereby” or any other similar reference to the
Existing Revolving Credit Agreement shall, from the Amendment Effective Date (as
defined below), refer to the Amended Revolving Credit Agreement.  This Amendment
shall constitute a “Loan Document” for all purposes under the Amended Revolving
Credit Agreement.

 

Section 2.  Amendments to the Existing Revolving Credit Agreement.  In each case
with effect on and after the Amendment Effective Date:

 

(a)                       Section 1.1 of the Existing Revolving Credit Agreement
shall be amended to add the following definition in the appropriate alphabetical
order:

 

““Amendment No. 2 Effective Date” means July 29, 2016.”

 

(b)                       Clause (a) of the definition of “Applicable LC
Fronting Sublimit” in Section 1.1 of the Existing Revolving Credit Agreement
shall be amended by deleting the words “Third Restatement Effective Date” and
inserting in their place the words “Amendment No. 2 Effective Date”.

 

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(c)                        The final two sentences of the definition of
“Commitment” in Section 1.1 of the Existing Revolving Credit Agreement shall be
amended and restated in their entirety as follows:

 

“The amount of each Lender’s Commitment as of the Amendment No. 2 Effective Date
is set forth on Schedule 2.1.  The aggregate amount of the Lenders’ Commitments
as of the Amendment No. 2 Effective Date is $1,500,000,000.”

 

(d)                       Clause (i) of the third sentence of Section 2.5(b) of
the Existing Revolving Credit Agreement shall be amended and restated in its
entirety as follows:

 

“(i) the aggregate LC Exposure shall not exceed $125,000,000 (the “LC
Sublimit”)”.

 

(e)                        Section 6.4(b) of the Existing Revolving Credit
Agreement shall be amended and restated in its entirety as follows:

 

(b)                                 Maximum Total Leverage Ratio.  Parent will
not permit the Total Leverage Ratio as of the last day of any fiscal quarter to
be greater than the ratio set forth opposite the corresponding date set forth
below:

 

Quarter-End Date

 

Total Leverage Ratio

September 30, 2016

 

5.25:1.00

December 31, 2016

 

5.25:1.00

March 31, 2017

 

5.25:1.00

June 30, 2017

 

5.00:1.00

September 30, 2017

 

4.75:1.00

December 31, 2017

 

4.00:1.00

March 31, 2018 and thereafter

 

3.75:1.00

 

(f)                         Schedule 2.1 of the Existing Revolving Credit
Agreement shall be amended and restated in its entirety to contain the
information set forth on Annex A hereto.

 

Section 3.  Representations of the Company and Holdings.  Each of the Company
and Holdings represents and warrants that (a) all representations and warranties
set forth in the Amended Revolving Credit Agreement and the other Loan Documents
shall be true and correct in all material respects on and as of the Amendment
Effective Date after giving effect to this Amendment, except that (i) to the
extent that any such representation or warranty is stated to relate solely to an
earlier date, it shall be true and correct in all material respects as of such
earlier date and (ii) any representation and warranty that is qualified as to
“materiality”, “Material Adverse Effect” or similar language shall be true

 

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and correct in all respects and (b) no Default or Event of Default shall exist
and be continuing on the Amendment Effective Date after giving effect to this
Amendment.

 

Section 4.  Effectiveness of Amendment.  This Amendment shall become effective
as of the date hereof (the “Amendment Effective Date”) upon satisfaction of the
following conditions precedent:

 

(a)                       The Administrative Agent (or its counsel) shall have
received, from each of Holdings, the Company, the Issuing Banks and Lenders that
in the aggregate constitute the Required Lenders under the Existing Revolving
Credit Agreement as of the Amendment Effective Date, a counterpart of this
Amendment, signed on behalf of such party (which may include facsimile or other
electronic transmission of a signed signature page of this Amendment);

 

(b)                       The Administrative Agent shall have received a
certificate, dated as of the Amendment Effective Date and signed on behalf of
the Company by a Responsible Officer or a Financial Officer of the Company,
confirming (i) that all representations and warranties set forth in this
Amendment, the Amended Revolving Credit Agreement and the other Loan Documents
are true and correct in all material respects on and as of the Amendment
Effective Date after giving effect to this Amendment, except that (A) to the
extent that any such representation or warranty is stated to relate solely to an
earlier date, such certificate shall confirm that such representation or
warranty is true and correct in all material respects as of such earlier date
and (B) with respect to any representation or warranty that is qualified as to
“materiality”, “Material Adverse Effect” or similar language, such certificate
shall confirm that such representation or warranty is true and correct in all
respects; and (ii) no Default or Event of Default exists and is continuing on
the Amendment Effective Date after giving effect to this Amendment;

 

(c)                        The Lenders, the Administrative Agent, and the
Arrangers shall have received all fees and expenses required to be paid by the
applicable Loan Parties (including, without limitation, the reasonable and
documented out-of-pocket fees, charges and disbursements of Davis Polk &
Wardwell LLP, counsel to the Administrative Agent) for which invoices have been
presented to the Company at least 3 Business Days prior to the Amendment
Effective Date (or such later date as the Company shall permit in its reasonable
discretion); and

 

(d)                       The Administrative Agent shall have received an
amendment fee for the account of each Lender party hereto in an amount equal to
0.10% of such Lender’s Commitment as of the Amendment Effective Date
(immediately after giving effect to this Amendment).

 

Section 5.  Certain Consequences Of Effectiveness.

 

(a)                       Except as expressly set forth herein and in Annex A
attached hereto, this Amendment shall not by implication or otherwise limit,
impair, constitute a waiver of, or otherwise affect the rights and remedies of
the Lenders, the Administrative Agent or any other party under the Existing
Revolving Credit Agreement or any other Loan Document,

 

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and shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Existing
Revolving Credit Agreement or any other Loan Document, all of which are ratified
and affirmed in all respects and shall continue in full force and effect.

 

(b)                       Nothing herein shall be deemed to entitle Holdings,
any Borrower or any Guarantor to a consent to, or a waiver, amendment,
modification or other change of, any of the terms, conditions, obligations,
covenants or agreements contained in the Existing Revolving Credit Agreement or
any other Loan document in similar or different circumstances.

 

(c)                        By signing this Amendment, each of Holdings and the
Company hereby confirms that (i) the Obligations of each of Holdings, each of
the Borrowers and each Guarantor under the Amended Revolving Credit Agreement
and the other Loan Documents as amended hereby are entitled to the benefit of
the guarantees set forth in the relevant Loan Documents and (ii) the Loan
Documents as amended hereby are, and shall continue to be, in full force and
effect and are hereby ratified and confirmed in all respects.

 

Section 6.  Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

 

Section 7.  Counterparts.  This Amendment may be executed in counterparts (and
by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a
single contract. Delivery of an executed counterpart of a signature page of this
Amendment by telecopy or other electronic imaging means (including in .pdf
format) shall be effective as delivery of a manually executed counterpart of
this Amendment.

 

[Remainder of Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written.

 

 

 

CF INDUSTRIES HOLDINGS, INC., as Holdings

 

 

 

 

 

 

 

 

 

By:

/s/ Daniel Swenson

 

 

Name:

Daniel Swenson

 

 

Title:

Vice President, Treasurer and Assistant Secretary

 

 

 

 

 

CF INDUSTRIES, INC., as the Company

 

 

 

 

 

 

 

 

 

By:

/s/ Daniel Swenson

 

 

Name:

Daniel Swenson

 

 

Title:

Vice President, Treasurer and Assistant Secretary

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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MORGAN STANLEY SENIOR FUNDING, INC.,
as Administrative Agent

 

 

 

 

 

 

 

 

 

By:

/s/ Anish Shah

 

 

Name:

Anish Shah

 

 

Title:

Authorized Signatory

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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MORGAN STANLEY BANK, N.A.,
as an Issuing Bank and as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Dmitriy Barskiy

 

 

Name:

Dmitry Barskiy

 

 

Title:

Authorized Signatory

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
as an Issuing Bank and as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Charles Shaw

 

 

Name:

Charles Shaw

 

 

Title:

Authorized Signatory

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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BANK OF MONTREAL,
as an Issuing Bank and as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Josh Hovermale

 

 

Name:

Josh Hovermale

 

 

Title:

Vice President

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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GOLDMAN SACHS BANK USA,
as an Issuing Bank and as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Rebecca Kratz

 

 

Name:

Rebecca Kratz

 

 

Title:

Authorized Signatory

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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ROYAL BANK OF CANADA,
as an Issuing Bank and as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Sinan Tarlan

 

 

Name:

Sinan Tarlan

 

 

Title:

Authorized Signatory

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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WELLS FARGO BANK, NATIONAL ASSOCIATION,
as an Issuing Bank and as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ LaShonda Fuselier

 

 

Name:

LaShonda Fuselier

 

 

Title:

Director

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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THE BANK OF NOVA SCOTIA,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Sangeeta Shah

 

 

Name:

Sangeeta Shah

 

 

Title:

Director

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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Canadian Imperial Bank of Commerce,
New York Branch,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Zhen Ma

 

 

Name:

Zhen Ma

 

 

Title:

Authorized Signatory

 

 

 

 

 

 

 

 

 

By:

/s/ Robert Robin

 

 

Name:

Robert Robin

 

 

Title:

Authorized Signatory

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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CITIBANK, N.A.,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ David Jaffe

 

 

Name:

David Jaffe

 

 

Title:

Vice President

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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PNC BANK, NATIONAL ASSOCIATION,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Kristin L. Lenda

 

 

Name:

Kristin L. Lenda

 

 

Title:

Senior Vice President

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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SUNTRUST BANK,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Carlos Cruz

 

 

Name:

Carlos Cruz

 

 

Title:

Vice President

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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U.S. BANK NATIONAL ASSOCIATION,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Paul E. Rouse

 

 

Name:

Paul E. Rouse

 

 

Title:

Vice President

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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BANK OF AMERICA, N.A.,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Milena Deltchev

 

 

Name:

Milena Deltchev

 

 

Title:

Vice President

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ Gary Herzog

 

 

Name:

Gary Herzog

 

 

Title:

Managing Director

 

 

 

By:

/s/ Kaye Ea

 

 

Name:

Kaye Ea

 

 

Title:

Managing Director

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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COMMERZBANK AG, NEW YORK BRANCH,
as a Lender

 

 

 

 

 

 

 

 

 

By:

/s/ James Boyle

 

 

Name:

James Boyle

 

 

Title:

Director

 

 

 

 

 

 

 

 

 

By:

/s/ Marie Duflos

 

 

Name:

Marie Duflos

 

 

Title:

Director

 

Signature Page to Amendment No. 2 to Third Amended and Restated Revolving Credit
Agreement

 

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ANNEX A

 

Schedule 2.1

 

Commitments

 

Lender

 

Commitment

 

Applicable LC
Fronting
Sublimit

 

Morgan Stanley Bank, N.A.

 

$

142,500,000.00

 

$

20,833,333.34

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

 

$

142,500,000.00

 

$

20,833,333.33

 

Bank of Montreal

 

$

112,500,000.00

 

$

20,833,333.33

 

Goldman Sachs Bank USA

 

$

112,500,000.00

 

$

20,833,333.34

 

Royal Bank of Canada

 

$

112,500,000.00

 

$

20,833,333.33

 

Wells Fargo Bank, National Association

 

$

112,500,000.00

 

$

20,833,333.33

 

The Bank of Nova Scotia

 

$

90,000,000.00

 

N/A

 

Canadian Imperial Bank of Commerce, New York Branch

 

$

90,000,000.00

 

N/A

 

Citibank, N.A.

 

$

90,000,000.00

 

N/A

 

PNC Bank, National Association

 

$

90,000,000.00

 

N/A

 

SunTrust Bank

 

$

90,000,000.00

 

N/A

 

U.S. Bank National Association

 

$

90,000,000.00

 

N/A

 

Bank of America, N.A.

 

$

75,000,000.00

 

N/A

 

Crédit Agricole Corporate and Investment Bank

 

$

75,000,000.00

 

N/A

 

Commerzbank AG, New York Branch

 

$

75,000,000.00

 

N/A

 

Total

 

$

1,500,000,000.00

 

$

125,000,000.00

 

 

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