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EXHIBIT 10.11

Execution Version

FIRST AMENDING AGREEMENT TO CREDIT AGREEMENT

dated as of December 8, 2017

ALTALINK INVESTMENT MANAGEMENT LTD.,
in its capacity as general partner of
ALTALINK INVESTMENTS, L.P.,
as Borrower,
- and -
ALTALINK INVESTMENT MANAGEMENT LTD.,
as General Partner,
- and -
BANK OF MONTREAL,
as Administrative Agent of the Lenders, and as Lender,
- and -
THE OTHER LENDERS PARTY HERETO,
as Lenders

 

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FIRST AMENDING AGREEMENT TO THE CREDIT AGREEMENT, dated as of December 8, 2017,
among AltaLink Investment Management Ltd., in its capacity as general partner of
AltaLink Investments, L.P., as Borrower, AltaLink Investment Management Ltd., as
General Partner, Bank of Montreal, as Agent of the Lenders (the “Agent”), and
the Lenders party hereto and acknowledged by the Initial Agent (as defined
below).
RECITALS

WHEREAS AltaLink Investment Management Ltd., in its capacity as general partner
of AltaLink Investments, L.P., as Borrower, Royal Bank of Canada, as agent (the
“Initial Agent”) of the Lenders, and the Lenders are parties to a Credit
Agreement made as of December 9, 2016 (the “Existing Credit Agreement” and, as
amended by this First Amending Agreement, the “Credit Agreement”);
AND WHEREAS the Borrower, the General Partner, the Lenders, the Initial Agent
and the Agent have agreed to amend certain provisions of the Existing Credit
Agreement in the manner and on the terms and conditions provided for herein
including to, among other things, replace the Initial Agent with the Agent.
NOW THEREFORE for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1
DEFINITIONS

1.1
Definitions

All capitalized terms not otherwise defined herein shall have the meanings
ascribed thereto in the Existing Credit Agreement.
ARTICLE 2
AMENDMENTS

2.1
Amendment to the cover page.

The cover page of the Existing Credit Agreement is hereby amended by deleting
the cover page in its entirety and replacing it with Exhibit A attached hereto.
2.2
Amendment to the preamble.

The preamble on page 1 of the Existing Credit Agreement is hereby amended by
deleting the reference therein to “Royal Bank of Canada” and replacing such
reference with “Bank of Montreal”.
2.3
Amendments to Section 1.1.

(a)
Section 1.1 of the Existing Credit Agreement is hereby amended by:

(i)
Adding the following new definition in the applicable alphabetical order:

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“BMO” means Bank of Montreal, its successors and permitted assigns.
(ii)
Deleting the definition of “RBC” in its entirety.

(b)
The definition of “2016 Supplemental Indenture” in Section 1.1 of the Existing
Credit Agreement is hereby amended by deleting the reference therein to “as such
indenture may be amended, supplemented or modified from time to time” and
replacing such reference with “as such indenture has been amended as of December
8, 2017 and as may be further amended, supplemented or modified from time to
time”.

(c)
The definition of “Agent” in Section 1.1 of the Existing Credit Agreement is
hereby amended by deleting the reference therein to “RBC” and replacing such
reference with “BMO”.

(d)
The definition of “Applicable Margin” in Section 1.1 of the Existing Credit
Agreement is hereby amended by deleting the reference therein to “the Senior
Bonds, Series 09-1,”.

(e)
The definition of “Documentary Credit Lenders” in Section 1.1 of the Existing
Credit Agreement is hereby amended by deleting the reference therein to “Royal
Bank of Canada” and replacing such reference with “Bank of Montreal”.

(f)
The definition of “Lenders” in Section 1.1 of the Existing Credit Agreement is
hereby amended by deleting the reference therein to “RBC” and replacing such
reference with “BMO”.

(g)
The definition of “Maturity Date” in Section 1.1 of the Existing Credit
Agreement is hereby amended by deleting the reference therein to “December 8,
2017” and replacing such reference with “December 7, 2018”.

(h)
The definitions of “Senior Bonds, Series 09-1” and “Series 09-1 Supplemental
indenture” in Section 1.1 of the Existing Credit Agreement are hereby deleted in
their entirety.

(i)
The definition of “Senior Pledged Bond, Series 3” in Section 1.1 of the Existing
Credit Agreement is hereby amended by deleting the reference therein to
“December 9, 2016” and replacing such reference with “December 8, 2017”.

2.4
Amendment to Section 9.1(l)

Section 9.1(l) of the Existing Credit Agreement is hereby amended by deleting
the reference therein to “the holders of the Senior Bonds, Series 09-1,”.
2.5
Amendment to Section 10.13

Section 10.13 of the Existing Credit Agreement is hereby amended by deleting the
reference therein to “(i) Indebtedness under the Senior Bonds, Series 09-1, such
Indebtedness not to exceed $150,000,000, excluding accrued but unpaid interest,
in the aggregate at any time,” and items (ii) through (viii) in Section 10.13
shall be updated as items (i) through (vii), respectively.

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2.6
Amendment to Section 12.1(e)

Section 12.1(e) of the Existing Credit Agreement is hereby amended by deleting
the reference therein to “the Senior Bonds, Series 09-1,”.
2.7
Amendment to Article 18

Article 18 of the Existing Credit Agreement is hereby amended by adding the
following Section 18.2 at the end thereof:
18.2    Notice Details
For purposes of Section 18.1, the notice details for the Agent, the Borrower and
the General Partner are:
If to the Agent:
Bank of Montreal
Agent Bank Services
234 Simcoe Street, 3rd Floor
Toronto, Ontario M5T 1T4
Attention: Manager, Agent Bank Services
Facsimile: (416) 598-6218
If to the Borrower and/or the General Partner:
AltaLink Management Ltd.
2611 - 3rd Avenue SE
Calgary, Alberta T2A 7W7
Attention: Christopher Lomore, Vice President, Treasurer
Facsimile: (403) 267-3407
2.8
Amendments to Schedules.

Schedule 1 (Borrower’s Certificate of Compliance), Schedule 2(A) (Borrowing
Notice), Schedule 2(B) (Notice of Roll Over), Schedule 2(C) (Conversion Option
Notice), Schedule 3 (Notice of Extension), Schedule 4 (Form of Issue Notice),
Schedule 6 (Commitment of the Lenders), Schedule 6.1(A) (Form of Notice of
Repayment) and Schedule 7 (Senior Pledged Bond, Series 3) of the Existing Credit
Agreement are hereby amended by deleting each schedule in its entirety and
replacing such schedule with Schedule 1 (Borrower’s Certificate of Compliance),
Schedule 2(A) (Borrowing Notice), Schedule 2(B) (Notice of Roll Over), Schedule
2(C) (Conversion Option Notice), Schedule 3 (Notice of Extension), Schedule 4
(Form of Issue Notice), Schedule 6 (Commitment of the Lenders), Schedule 6.1(A)
(Form of Notice of Repayment) and Schedule 7 (Senior Pledged Bond, Series 3),
respectively, attached hereto.

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ARTICLE 3
CONDITIONS PRECEDENT

3.1
Conditions Precedent

This First Amending Agreement shall become effective upon satisfaction of the
following conditions:
(a)
the Agent shall have received an executed copy of this First Amending Agreement
from each of the Agent, the Lenders, the Borrower and the General Partner and
acknowledged by the Initial Agent;

(b)
the Agent has received an upfront fee from the Borrower, which fee shall be in
the amount of 4.5 bps calculated on the Commitment (as defined in the Credit
Agreement after giving effect to this First Amending Agreement) of each Lender
party to this First Amending Agreement, and payable to each such Lender;

(c)
the Agent shall have received a duly executed and original copy of an issued
Senior Pledged Bond, Series 3 registered in the name of the Agent and evidence
that the existing Senior Pledged Bond, Series 3 registered in the name of the
Initial Agent has been returned to the Trustee and cancelled;

(d)
all representations and warranties set out in Section 4.1 below shall be true
and correct in all respects;

(e)
the Agent shall have received a certified copy of an incumbency certificate
setting forth specimen signatures of the authorized signatories of the Borrower
and the General Partner; and

(f)
no Event of Default shall have occurred and be continuing.

The conditions set forth above are inserted for the sole benefit of the Lenders
and may be waived by the Lenders in whole or in part, with or without terms or
conditions.
ARTICLE 4
REPRESENTATIONS; WARRANTIES AND RELEASES

4.1
Representations and Warranties True and Correct; No Default or Event of Default

The Borrower and the General Partner each hereby represents and warrants to the
Agent and the Lenders that after giving effect to this First Amending Agreement,
(i) each of the representations and warranties of the Borrower and the General
Partner, as the case may be, contained in the Existing Credit Agreement and each
of the other Loan Documents is true and correct on, and as of, the date hereof
as if made on such date (except to the extent that such representation or
warranty expressly relates to an earlier date and except for changes therein
expressly permitted or expressly contemplated by the Existing Credit Agreement),
and (ii) no event has occurred and is continuing which constitutes or would
constitute a Default or an Event of Default.

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- 5 -

4.2
Representations and Warranties regarding Accommodations and Fees and Performance
under Existing Agreement

The Borrower and the Initial Agent, each hereby represent and warrant to the
Agent, as applicable, as of the date hereof (it being understood that each of
the Initial Agent’s representations and warranties below are given only as to
documents and information in its possession or of which it otherwise has actual
knowledge in its capacity as agent under the Existing Credit Agreement):
(a)
there are no Accommodations outstanding and there is no accrued interest payable
under the Existing Credit Agreement as of December 7, 2017;

(b)
the Borrower has paid to the Initial Agent all fees due and owing on or prior to
the date hereof in accordance with the Existing Credit Agreement, including
pursuant to Article 5 thereof;

(c)
the Initial Agent has disbursed to the Lenders all fees paid to it by the
Borrower on or prior to the date hereof in accordance with the Existing Credit
Agreement; and

(d)
the Initial Agent has performed all obligations required by it, in its capacity
as agent under the Existing Credit Agreement, in accordance with the terms and
conditions of the Existing Agreement and in compliance with Applicable Law. 

4.3
Release of Initial Agent

In reliance upon the accuracy of the Initial Agent’s representation and warranty
in Section 4.2(d) above, the Borrower and the General Partner hereby release,
discharge and acquit the Initial Agent and its officers, directors, agents and
employees (collectively, the “Releasees”) from any and all claims, demands,
liabilities and causes of action, whether in law or in equity, that the Borrower
or the General Partner, at any time, had or has, or that it or its successors or
assigns hereafter have or may have, against the Releasees directly or indirectly
arising out of or in any way related to the Releasees being the Agent under the
Credit Agreement or the other Loan Documents up to the date hereof. The rights
of the Initial Agent in respect of its resignation set out herein and the rights
of the Initial Agent under Article 17 and Article 19 of the Credit Agreement
shall continue in full force and effect after the date hereof with respect to
matters arising prior to the date hereof.
ARTICLE 5
ACKNOWLEDGEMENTS AND COVENANTS

5.1
Acknowledgement by the Majority Lenders

The Majority Lenders hereby acknowledge that the Agent is the replacement agent
for purposes of Section 17.7 of the Credit Agreement.

5.2
Acknowledgements by the Borrower, the General Partner and the Lenders

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- 6 -

The Borrower, the General Partner and the Lenders acknowledge that (a) the Agent
has no liability for actions of the Initial Agent, in respect of any acts or
omissions in its capacity as agent under the Existing Credit Agreement or any of
its other capacities under the Loan Documents and (b) the Initial Agent has no
liability for actions of the Agent, in respect of any acts or omissions in its
capacity as Agent or any of its other capacities under the Loan Documents. The
Lenders acknowledge that the Agent should not be liable for any loss or
liability incurred by any Lender as a consequence of the Agent not having been
provided with all information or documents in the Initial Agent’s possession in
its capacity as agent under the Existing Credit Agreement or otherwise.
5.3
Covenant to Provide Documents

Each of the Borrower, the General Partner and the Initial Agent covenants and
agrees that it will, in each case at the Borrower's sole expense take all
actions reasonably requested by the Agent or its representatives to facilitate
the transfer of information to the Agent in connection with the Loan Documents.
ARTICLE 6
MISCELLANEOUS

6.1
No Other Amendments, Waivers or Consents

Except as expressly set forth herein, the Existing Credit Agreement and all Loan
Documents shall be unmodified and shall continue to be in full force and effect
in accordance with their terms.
6.2
Time

Time is of the essence in the performance of the parties’ respective obligations
in this First Amending Agreement.
6.3
Governing Law

This First Amending Agreement is a contract made under, and shall be governed by
and construed in accordance with, the laws of the Province of Alberta and the
federal laws of Canada applicable therein.
6.4
Successors and Assigns

This First Amending Agreement shall enure to the benefit of, and be binding
upon, the parties hereto and their respective successors and any assigns,
transferees and endorsees of the Agent or any Lender. Nothing in this First
Amending Agreement, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder, any benefit or any legal or
equitable right, remedy or claim under the Existing Credit Agreement, as amended
by this First Amending Agreement.

6.5
Counterparts

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- 7 -

This First Amending Agreement may be executed by the parties hereto in
counterparts and may be delivered by facsimile or other electronic means
(including via electronic mail in portable document format) and all such
counterparts shall together constitute one and the same agreement.
[Remainder of page intentionally left blank – signature pages follow]

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The parties hereto have duly executed this First Amending Agreement as of the
date set forth on the first page of this Agreement.
 
 
ALTALINK INVESTMENT MANAGEMENT LTD.,
in its capacity as General Partner of ALTALINK INVESTMENTS, L.P.

By:
/s/ Calvin D. Haack
 
Name: Calvin D. Haack
 
Title: President / Director
 
 
By:
/s/ Jeffrey A. Austin
 
Name: Jeffrey A. Austin
 
Title: Director

AILP ($200M) – First Amending Agreement to Credit Agreement

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ALTALINK INVESTMENT MANAGEMENT LTD.

By:
/s/ Calvin D. Haack
 
Name: Calvin D. Haack
 
Title: President / Director
 
 
By:
/s/ Jeffrey A. Austin
 
Name: Jeffrey A. Austin
 
Title: Director

AILP ($200M) – First Amending Agreement to Credit Agreement

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BANK OF MONTREAL,
as Agent

By:
/s/ Carol McDonald
 
Name: Carol McDonald
 
Title: Director
 
 
 
 
 
 
By:
 
 
 
 
Name:
 
 
 
Title:

AILP ($200M) – First Amending Agreement to Credit Agreement

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BANK OF MONTREAL,
as Lender

By:
/s/ Carol McDonald
 
Name: Carol McDonald
 
Title: Director
 
 
 
 
 
 
By:
 
 
 
 
Name:
 
 
 
Title:

AILP ($200M) – First Amending Agreement to Credit Agreement

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THE BANK OF NOVA SCOTIA,
as Lender

By:
/s/ Bradley Walker
 
Name: Bradley Walker
 
Title: Director
 
 
 
 
 
 
By:
/s/ Mathieu Leroux
 
 
 
Name: Mathieu Leroux
 
 
 
Title: Associate Director

AILP ($200M) – First Amending Agreement to Credit Agreement

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THE TORONTO-DOMINION BANK,
as Lender

By:
/s/ David Manii
 
Name: David Manii
 
Title: Director
 
 
 
 
 
 
By:
/s/ Matthew Hendel
 
 
 
Name: Matthew Hendel
 
 
 
Title: Managing Director

AILP ($200M) – First Amending Agreement to Credit Agreement

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- 2 -

RBC – Altalink – First Amending Agreement to Amended and Restated Credit
Agreement

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NATIONAL BANK OF CANADA,
as Lender
By:
/s/ James Dexter
 
Name: James Dexter
 
Title: VP, Credit Capital Markets
 
 
By:
/s/ Mark Williamson
 
Name: Mark Williamson
 
Title: MD & Head, Credit Capital Markets

AILP ($200M) – First Amending Agreement to Credit Agreement

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ALBERTA TREASURY BRANCHES,
as Lender
By:
/s/ Trevor Guinard
 
Name: Trevor Guinard
 
Title: Director
 
 
By:
/s/ Evan Hahn
 
Name: Evan Hahn
 
Title: Associate Director

AILP ($200M) – First Amending Agreement to Credit Agreement

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ROYAL BANK OF CANADA,
as Initial Agent

By:
/s/ Ann Hurley
 
Name: Ann Hurley
 
Title: Manager, Agency
 
 
 
 
 
 
By:
 
 
 
 
Name:
 
 
 
Title:

AILP ($200M) – First Amending Agreement to Credit Agreement

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EXHIBIT A
COVER PAGE
(AS FOLLOWS ON THE NEXT PAGE)

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CREDIT AGREEMENT
made as of December 9, 2016
as amended by a First Amending Agreement dated as of December 8, 2017
among
ALTALINK INVESTMENT MANAGEMENT LTD.,
as general partner of
ALTALINK INVESTMENTS, L.P.,
as Borrower,
- and -
ALTALINK INVESTMENT MANAGEMENT LTD.,
as General Partner,
- and -
BANK OF MONTREAL,
as Administrative Agent of the Lenders, and as Lender
- and -
BMO CAPITAL MARKETS,
as Co-Lead Arranger and Joint Bookrunner
- and -
THE BANK OF NOVA SCOTIA,
as Syndication Agent, Co-Lead Arranger, Joint Bookrunner, and as Lender
THE TORONTO-DOMINION BANK,
as Co-Lead Arranger, Joint Bookrunner, Co-Documentation Agent, and as Lender
NATIONAL BANK OF CANADA AND ALBERTA TREASURY BRANCHES,
as Co-Documentation Agents, and as Lenders
- and -
ALL OTHER LENDERS WHICH BECOME
PARTIES HEREUNDER,
as Lenders

 

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- 2 -

SCHEDULE 1
BORROWER’S CERTIFICATE OF COMPLIANCE
TO:    Bank of Montreal (“BMO”), as Agent for the Lenders, under the Credit
Agreement
This Certificate is delivered to you pursuant to the credit agreement made as of
December 9, 2016 (as amended by the first amending agreement dated as of
December 8, 2017 and as may be further amended, restated or replaced from time
to time, the “Credit Agreement”) between AltaLink Investments, L.P., AltaLink
Investment Management Ltd. and BMO, as Agent and Lender and the other Lenders
party thereto. Capitalized terms used in this Certificate and not otherwise
defined have the meanings given in the Credit Agreement.
The undersigned has read the provisions of the Credit Agreement which are
relevant to the furnishing of this Certificate. The undersigned has made such
examination and investigation as was, in the opinion of the undersigned,
necessary to enable the undersigned to express an informed opinion on the
matters set out herein.
The undersigned hereby certifies that as of the date hereof:
1.
        Representations and Warranties. All representations and warranties of
the Borrower and the General Partner contained in the Credit Agreement are true
and correct in all material respects as if made on and as of the date hereof,
except as set out in Appendix I hereto or otherwise notified to the Agent under
the Credit Agreement.

2.
    Default/Event of Default. No Default or Event of Default under the Credit
Agreement has occurred and is continuing.

3.
    Financial Covenants. The Borrower is in compliance with the financial
covenants set forth in Section 10.24 of the Credit Agreement and the detailed
calculations evidencing such compliance are attached hereto.

4.
    Ratings. [The ratings assigned by each of the Rating Agencies to the Senior
Bonds, Series 12-1 is: l, the Senior Bonds, Series 13-1 is: l, and the Senior
Bonds, Series 15-1 is l.]

5.
        Change of Control Compliance. Pursuant to Section 10.16 of the Credit
Agreement, the total revenues and total Assets of all non-wholly-owned
Subsidiaries of the Borrower does not exceed 10% of the Borrower’s consolidated
revenues or Consolidated Assets, as disclosed in the most recent audited
financial statements delivered to the Agent and the Lenders.

[SIGNATURE PAGE FOLLOWS]

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DATED this ________ day of _________________, 20____.
 
 
ALTALINK INVESTMENT
MANAGEMENT LTD., as general partner of ALTALINK INVESTMENTS, L.P.
By:
 
 
Name:
 
Title:
By:
 
 
Name:
 
Title:

 
 
ALTALINK INVESTMENT
MANAGEMENT LTD.
By:
 
 
Name:
 
Title:
By:
 
 
Name:
 
Title:

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APPENDIX I
EXCEPTIONS AND QUALIFICATIONS TO
BORROWER’S CERTIFICATE OF COMPLIANCE

 

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SCHEDULE 2(A)
BORROWING NOTICE
Bank of Montreal
Agent Bank Services
234 Simcoe Street, 3rd Floor
Toronto, Ontario M5T 1T4

Attention:    Manager, Agent Bank Services
Facsimile:    (416) 598-6218

The Lenders under the Credit Agreement
Dear Sirs:
You are hereby notified that the undersigned, intends to avail itself of the
Credit Facility established in its favour pursuant to the credit agreement made
as of December 9, 2016 (as amended by the first amending agreement dated as of
December 8, 2017 and as may be further amended, restated or replaced from time
to time, the “Credit Agreement”) between AltaLink Investments, L.P., as
Borrower, AltaLink Investment Management Ltd. and Bank of Montreal, as Agent and
Lender, and the other Lenders which become a party thereto. Capitalized terms
used in this Borrowing Notice and not otherwise defined have the meanings given
in the Credit Agreement.
The undersigned hereby irrevocably requests a Borrowing as follows:
(a)
Prime Rate Loan in the amount of Cdn.$l, having a term of l [add same provision
for any other amount and term requested];

(b)
U.S. Base Rate Loan in the amount of U.S.$l, having a term of l [add same
provision for any other amount and term requested];

(c)
LIBOR Loan in the amount of U.S.$l, having a term and LIBOR Interest Period of l
[add same provision for any other amount and term requested]; and

(d)
Bankers’ Acceptance in the aggregate amount of Cdn.$l having a term of l [add
same provision for any other amount and term requested].

All Loans made pursuant to this Notice of Borrowing shall be credited to the
undersigned’s account no. l at [insert account details]. In the case of a
Bankers’ Acceptance or Documentary Credit, it shall be delivered to l. The
requested Borrowing Date is l. [If the undersigned requires a bank draft to be
issued by BMO as a debit to the undersigned account at the Borrower’s designated
account and to be delivered on the undersigned’s behalf, add an irrevocable
direction to that effect, specifying the Person to whom it is to be delivered.]

 

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- 2 -

All representations and warranties of the Borrower contained in the Credit
Agreement are true and correct in all material respects as if made on and as of
the date hereof.
No Default or Event of Default under the Credit Agreement has occurred and is
continuing.
DATED this _____ day _______________________ 20    __.

 
 
ALTALINK INVESTMENT MANAGEMENT LTD., as general partner of ALTALINK INVESTMENTS,
L.P.
 
 
By:
 
 
Name:
 
Title:
 
 
By:
 
 
Name:
 
Title:

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SCHEDULE 2(B)
NOTICE OF ROLL OVER
Bank of Montreal
Agent Bank Services
234 Simcoe Street, 3rd Floor
Toronto, Ontario M5T 1T4

Attention:    Manager, Agent Bank Services
Facsimile:    (416) 598-6218
The Lenders under the Credit Agreement
Dear Sirs:
We refer to Section 2.5 of the credit agreement made as of December 9, 2016 (as
amended by the first amending agreement dated as of December 8, 2017 and as may
be further amended, restated or replaced from time to time, the “Credit
Agreement”) between AltaLink Investments, L.P., as Borrower, AltaLink Investment
Management Ltd. and Bank of Montreal, as Agent and Lender, and the other Lenders
which become a party thereto. Capitalized terms used in this Notice and not
otherwise defined have the meanings given in the Credit Agreement.
The Borrower hereby confirms that:
(a)
it intends to repay the following Bankers’ Acceptances on the current maturity
date:

(i)
aggregate Face Amount - $; and

(ii)
current maturity date _____________; and

(b)
the following Bankers’ Acceptances are to be rolled over in accordance with the
Credit Agreement by the issuance of new Bankers’ Acceptances on the current
maturity date specified below:

(i)
aggregate Face Amount of maturing Bankers’ Acceptances - $;

(ii)
current maturity date - ______________;

(iii)
new aggregate Face Amount - $    ;

(iv)
new contract period - _______________; and

(v)
new maturity date - ________________.

The Borrower hereby represents and warrants that the conditions contained in the
Credit Agreement have been satisfied and will be satisfied as of the date hereof
and before and after giving effect to such roll over on the applicable roll over
date.

 

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- 2 -

DATED this     day             , 20    .
 
 
ALTALINK INVESTMENT MANAGEMENT LTD., as general partner of ALTALINK INVESTMENTS,
L.P.
By:
 
 
Name:
 
Title:
By:
 
 
Name:
 
Title:

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SCHEDULE 2(C)
CONVERSION OPTION NOTICE
Bank of Montreal
Agent Bank Services
234 Simcoe Street, 3rd Floor
Toronto, Ontario M5T 1T4

Attention:    Manager, Agent Bank Services
Facsimile:    (416) 598-6218

The Lenders under the Credit Agreement

Dear Sirs:
We refer to Section 2.5 of the credit agreement made as of December 9, 2016 (as
amended by the first amending agreement dated as of December 8, 2017 and as may
be further amended, restated or replaced from time to time, the “Credit
Agreement”) between AltaLink Investments, L.P., as Borrower, AltaLink Investment
Management Ltd. and Bank of Montreal, as Agent and Lender, and the other Lenders
which become a party thereto. Capitalized terms used in this Notice and not
otherwise defined have the meanings given in the Credit Agreement.
Pursuant to the Credit Agreement, we hereby give notice of our irrevocable
request for a conversion of Advances in the amount of $______________
outstanding by way of [insert type of loan] into corresponding Borrowings by way
of [insert new type of loan] on the _________ day of ___________, 20___. [The
contract period for the new Bankers’ Acceptances shall be ________ with a new
maturity date of ____________, 20____.][The term of the new [insert new type of
loan] shall be ________ with a new maturity date of ____________, 20____.]
The Borrower hereby represents and warrants that the conditions contained in the
Credit Agreement have been satisfied and will be satisfied as of the date hereof
and before and after giving effect to such conversion on the applicable
conversion date.
DATED this         day             , 20____.
 
 
ALTALINK INVESTMENT MANAGEMENT LTD., as general partner of ALTALINK INVESTMENTS,
L.P.
 
 
By:
 
 
Name:
 
Title:
 
 
By:
 
 
Name:
 
Title:

 

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SCHEDULE 3
NOTICE OF EXTENSION
Bank of Montreal
Agent Bank Services
234 Simcoe Street, 3rd Floor
Toronto, Ontario M5T 1T4

Attention:    Manager, Agent Bank Services
Facsimile:    (416) 598-6218

Dear Sirs:
You are hereby notified that the undersigned wishes to extend the Maturity Date
of each Lender for a three hundred and sixty-five (365) day period. Capitalized
terms used in this Notice of Extension and not otherwise defined have the
meanings given in the credit agreement made as of December 9, 2016 (as amended
by the first amending agreement dated as of December 8, 2017 and as may be
further amended, restated or replaced from time to time) between AltaLink
Investments L.P., as Borrower, AltaLink Investment Management Ltd. and Bank of
Montreal, as Agent and Lender, and the other Lenders party thereto, as amended,
restated or replaced from time to time.
DATED this          day of             , 20    .

 
 
ALTALINK INVESTMENT MANAGEMENT LTD., as general partner of ALTALINK INVESTMENTS,
L.P.
 
 
By:
 
 
Name:
 
Title:
 
 
By:
 
 
Name:
 
Title:

 

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SCHEDULE 4
FORM OF ISSUE NOTICE
[Date]
Bank of Montreal
Agent Bank Services
234 Simcoe Street, 3rd Floor
Toronto, Ontario M5T 1T4

Attention:    Manager, Agent Bank Services
Facsimile:    (416) 598-6218

Ladies and Gentlemen:
We refer to Section 3.2 of the credit agreement made as of December 9, 2016 (as
amended by the first amending agreement dated as of December 8, 2017 and as may
be further amended, restated or replaced from time to time, the “Credit
Agreement”) between AltaLink Investments, L.P., as Borrower, AltaLink Investment
Management Ltd. and Bank of Montreal, as Agent and Lender, and the other Lenders
which become a party thereto. Capitalized terms used in this Notice and not
otherwise defined have the meanings given in the Credit Agreement.
The undersigned hereby gives you notice pursuant to Section 3.2 of the Credit
Agreement that the Borrower hereby requests an Issue under the Credit Agreement,
and, in that connection, sets forth below the information relating to such Issue
as required by Section 3.2 of the Credit Agreement:
(a)
The date of Issue, being a Business Day, is l.

(b)
The face amount of such Documentary Credit is Cdn $l/US$l .

(c)
The expiration date of such Documentary Credit, being a Business Day is l.

(d)
The proposed type of Documentary Credit is [letter of credit][letter of
guarantee].

(e)
The name and address of the Beneficiary is l.

(f)
[Insert any special terms or conditions for the Documentary Credit.]

 

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Yours truly,

 
 
ALTALINK INVESTMENT MANAGEMENT LTD., as general partner of ALTALINK INVESTMENTS,
L.P.
 
 
By:
 
 
Name:
 
Title:
 
 
By:
 
 
Name:
 
Title:

BMO – AltaLink (AILP) – 2016 Credit Agreement

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SCHEDULE 6
COMMITMENTS OF THE LENDERS

Lenders
Lender’s Commitment (Cdn.$)
Applicable Percentage
Bank of Montreal
$64,000,000
32%
The Toronto-Dominion Bank
$53,000,000
26.5%
The Bank of Nova Scotia
$50,000,000
25%
National Bank of Canada
$21,000,000
10.5%
Alberta Treasury Branches
$12,000,000
6%
Total
$200,000,000
100%

 

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SCHEDULE 6.1(A)
FORM OF NOTICE OF REPAYMENT
(Letter to be typed on Borrower’s Letterhead)
_________________, 20____

Bank of Montreal
Agent Bank Services
234 Simcoe Street, 3rd Floor
Toronto, Ontario M5T 1T4

Attention:    Manager, Agent Bank Services
Facsimile:    (416) 598-6218

REPAYMENT NOTICE
Dear Sirs:
We refer to Section 6.1(a) of the credit agreement made as of December 9, 2016
(as amended by the first amending agreement dated as of December 8, 2017 and as
may be further amended, restated or replaced from time to time, the “Credit
Agreement”) between AltaLink Investments, L.P., as Borrower, AltaLink Investment
Management Ltd. and Bank of Montreal, as Agent and Lender, and the other Lenders
which become a party thereto. Capitalized terms used in this Notice and not
otherwise defined have the meanings given in the Credit Agreement.
We hereby notify the Agent of our repayment of the Loan subject to and in
accordance with the terms and provisions of the Credit Agreement in the amount
of:
A. Repayment amount :
    
Prime Rate Loan:        _______________    Maturity Date     ____________
BA Rate Loan:            _______________    Maturity Date     ____________
US Base Rate Loan:        _______________    Maturity Date     ____________
LIBOR Loan:            _______________    Maturity Date    ____________

B. Date of repayment:    _________________________
Proceeds of the repayment are to be deposited to the account of the Agent as
follows:

 

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Bank Name:                
Account Name:            
Transit #:                
Account Number:            CAD    l         USD    l
    

Yours truly,
 
 
ALTALINK INVESTMENT MANAGEMENT LTD., as general partner of ALTALINK INVESTMENTS,
L.P.
 
 
By:
 
 
Name:
 
Title:
 
 
By:
 
 
Name:
 
Title:

 

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SCHEDULE 7
SENIOR PLEDGED BOND, SERIES 3
[See attached]