Exhibit 10.1

 

Execution Version

 

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED CONSENT

 

This SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED CONSENT (this “Amendment
and Consent”), dated effective as of June 20, 2018 (the “Effective Date”), is by
and among EnLink Midstream Partners, LP, a Delaware limited partnership (the
“Borrower”), the Lenders party hereto and Bank of America, N.A., as
Administrative Agent for the Lenders (in such capacity, the “Administrative
Agent”).

 

WHEREAS, the Borrower, the lenders party thereto (the “Lenders”), and the
Administrative Agent are parties to that certain Credit Agreement dated as of
February 20, 2014 (as modified by that certain Commitment Increase and Extension
Agreement, dated effective as of February 5, 2015, and as amended by that
certain First Amendment to Credit Agreement, dated effective as of December 23,
2015, by and among the Borrower, the Lenders party thereto and the
Administrative Agent, the “Credit Agreement”, the capitalized terms of which are
used herein as therein defined unless otherwise defined herein);

 

WHEREAS, the Borrower has notified the Administrative Agent that pursuant to the
Purchase Agreement, dated as of June 5, 2018 (as publicly available on the
Effective Date, including any amendments, supplements or other modifications
thereto after the Effective Date that, taken as a whole, are not materially
adverse to the interests of the Administrative Agent or the Lenders, the
“Purchase Agreement”), by and among Devon Gas Services, L.P. (“DGS”) and
Southwestern Gas Pipeline, L.L.C. (“Southwestern”), as sellers; EnLink Midstream
Manager, LLC, acting solely in its individual capacity and not in its capacity
as managing member of EnLink Midstream, LLC (the “Manager”); Devon Energy
Corporation, solely for the purposes specified therein; and GIP III Stetson I,
L.P. (the “ENLK Acquiror”) and GIP III Stetson II, L.P., as acquirors, among
other things, the ENLK Acquiror has agreed to acquire from DGS all of the Equity
Interests in the Manager, which transaction would result in the acquisition by
ENLK Acquiror of “beneficial ownership” of more than 50% of Crosstex GP; and

 

WHEREAS, the Borrower has requested, and the Lenders party hereto have agreed,
subject to the terms and conditions of this Amendment and Consent, to amend the
Credit Agreement and grant a limited consent with respect to the transactions
contemplated by the Purchase Agreement, each as more fully set forth in this
Amendment and Consent.

 

NOW, THEREFORE, in consideration of the mutual covenants, representations and
warranties and agreements herein contained, the parties hereto agree as follows:

 

Section 1.                                           Amendments to the Credit
Agreement.  The Credit Agreement is hereby amended as follows:

 

(a)                                 The following new definitions are added, in
the appropriate alphabetical order, to Section 1.01 of the Credit Agreement to
read as follows:

 

“GIP” means Global Infrastructure Partners III-A/B, L.P., Global Infrastructure
Partners III-C Intermediate, L.P., Global Infrastructure Partners III-C2
Intermediate, L.P., Global Infrastructure Partners III-C Stetson AIV, L.P. and
each of their Affiliates, and any funds, partnerships or other

 

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investment vehicles Controlled by them or their Affiliates (excluding in each
case, any portfolio companies).

 

“GIP Purchase Agreement” means the Purchase Agreement dated as of June 5, 2018
(as publicly available on the Second Amendment Effective Date, including any
amendments, supplements or other modifications thereto that, taken as a whole,
are not materially adverse to the interests of the Administrative Agent or the
Lenders), by and among Devon Gas Services, L.P. and Southwestern Gas Pipeline,
L.L.C., as sellers; EnLink Midstream Manager, LLC, acting solely in its
individual capacity and not in its capacity as managing member of EnLink
Midstream, LLC; Devon Energy Corporation, solely for the purposes specified
therein; and GIP III Stetson I, L.P. and GIP III Stetson II, L.P., as acquirors.

 

“GIP Transaction” means the transactions contemplated by the GIP Purchase
Agreement.

 

“Second Amendment Effective Date” means June 20, 2018.

 

(b)                                 The definition of Qualifying Owners in
Section 1.01 of the Credit Agreement is amended and restated in its entirety
with the following:

 

“Qualifying Owners” means (i) prior to the closing of the GIP Transaction, Devon
and its Subsidiaries, and (ii) from and after the closing of the GIP
Transaction, GIP and its Subsidiaries.

 

(c)                                  The reference to “Devon or any of its
Subsidiaries” in the proviso in Section 5.14 of the Credit Agreement is hereby
replaced with a reference to “Devon, GIP or any of their respective
Subsidiaries”.

 

Section 2.                                           Consent.  The Lenders party
hereto, which constitute the Required Lenders, hereby consent to the acquisition
by the ENLK Acquiror from DGS of all of the Equity Interests in the Manager
pursuant to the Purchase Agreement, which transaction would result in the
acquisition by ENLK Acquiror of “beneficial ownership” of more than 50% of
Crosstex GP, which consent shall, upon effectiveness of this Agreement, be
effective as of the Effective Date.  This consent is limited to the extent
described herein and shall not be construed to be a waiver of any other terms,
provisions, covenants, warranties or agreements contained in the Credit
Agreement or any of the Loan Documents.  The Administrative Agent and the
Lenders reserve the right to exercise any rights and remedies available to them
in connection with any present or future defaults under the Credit Agreement or
any other provision of any Loan Document.

 

Section 3.                                           Conditions Precedent.  This
Amendment and Consent shall become effective as of the Effective Date upon the
satisfaction of the following conditions precedent:

 

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(a)                                 the Administrative Agent shall have received
this Amendment and Consent, duly executed by the Borrower, the Required Lenders,
and the Administrative Agent;

 

(b)                                 the representations and warranties set forth
in Section 4 of this Amendment and Consent shall be true and correct; and

 

(c)                                  the Borrower shall have paid all fees,
costs and expenses that are payable pursuant to Section 10.04 of the Credit
Agreement (including the reasonable fees and expenses of Bracewell LLP, counsel
to the Administrative Agent) to the extent that the Borrower has received an
invoice therefor at least two Business Days prior to the anticipated Effective
Date.

 

Section 4.                                           Representations and
Warranties.  The Borrower represents and warrants to the Lenders and the
Administrative Agent:

 

(a)                                 The execution, delivery and performance by
the Borrower of this Amendment and Consent have been duly authorized by all
necessary corporate or other organizational action, and do not and will not
(i) violate (A) the terms of the Borrower’s Organization Documents, (B) any
order, injunction, writ or decree of any Governmental Authority or any arbitral
award to which the Borrower or its property is subject, or (C) any provision of
Law applicable to it, (ii) result in the acceleration of any Indebtedness owed
by it, except as could not reasonably be expected to have a Material Adverse
Effect, (iii) result in any breach of, or a default under, any material
Contractual Obligation to which the Borrower is a party or to which its
properties are bound, except as could not reasonably be expected to have a
Material Adverse Effect or (iv) result in the creation of any consensual Lien
upon any of its material assets except as expressly contemplated in, or
permitted by, the Loan Documents.

 

(b)                                 This Amendment and Consent has been duly
executed and delivered by the Borrower and constitutes the Borrower’s legal,
valid and binding obligation, enforceable in accordance with its terms, except
as such enforceability may be subject to (i) bankruptcy, insolvency,
reorganization, fraudulent conveyance or transfer, moratorium or similar laws
affecting creditors’ rights generally and (ii) general principles of equity
(regardless of whether such enforceability is considered in a proceeding at law
or in equity).

 

(c)                                  No material consent, approval,
authorization or order of, or filing, registration or qualification with, any
Governmental Authority or third party that has not been obtained is required to
be made or obtained by the Borrower pursuant to the provisions of any material
Law applicable to it as a condition to its execution, delivery or performance of
this Amendment and Consent, except those that would ordinarily be made or done
in the ordinary course of business after the Effective Date.

 

(d)                                 After giving effect to this Amendment and
Consent, the representations and warranties set forth in Article V of the Credit
Agreement and the other Loan Documents are true and correct in all material
respects (except to the extent such

 

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representations and warranties are already qualified as to materiality, in which
case such representations and warranties are true and correct in all respects)
on and as of the Effective Date, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are
true and correct in all material respects (except to the extent such
representations and warranties are already qualified as to materiality, in which
case such representations and warranties are true and correct in all respects)
as of such earlier date, and except that the representations and warranties
contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement
shall be deemed to refer to the most recent statements furnished pursuant to
subsections (a) and (b), respectively, of Section 6.01 of the Credit Agreement.

 

(e)                                  After giving effect to this Amendment and
Consent, no event has occurred and is continuing that constitutes a Default or
an Event of Default.

 

Section 5.                                           Miscellaneous.

 

(a)                                 Modified Terms. On and after the Effective
Date, all references to the Credit Agreement or the other Loan Documents in each
of the Credit Agreement or the other Loan Documents shall hereafter mean the
Credit Agreement or the other Loan Documents as modified by this Amendment and
Consent.  Except as specifically modified hereby or otherwise agreed, the Credit
Agreement and the other Loan Documents are hereby ratified and confirmed and
shall remain in full force and effect according to their respective terms.

 

(b)                                 Reaffirmation of Obligations.  The Borrower
hereby ratifies the Credit Agreement and acknowledges and reaffirms (i) that it
is bound by all terms of the Credit Agreement (as modified by this Amendment and
Consent) and the other Loan Documents applicable to it and (ii) that it is
responsible for the observance and full performance of its respective
Obligations.

 

(c)                                  Loan Document.  This Amendment and Consent
shall constitute a Loan Document under the terms of the Credit Agreement.

 

(d)                                 Fees and Expenses.  The Borrower agrees to
pay (i) the fees set forth in the fee letter dated as of the date hereof by and
among the Borrower, the Administrative Agent and Merrill Lynch, Pierce, Fenner &
Smith Incorporated and (ii) all reasonable and documented out-of-pocket costs
and expenses of the Administrative Agent in connection with the preparation,
execution and delivery of this Amendment and Consent, including the reasonable
fees and expenses of Bracewell LLP, as the Administrative Agent’s legal counsel.

 

(e)                                  Further Assurances.  The Borrower agrees to
promptly take such reasonable action, upon the request of the Administrative
Agent, as is necessary to carry out the intent of this Amendment and Consent.

 

(f)                                   Entirety.  This Amendment and Consent and
the other Loan Documents embody the entire agreement among the parties hereto
and supersede all prior agreements and understandings, oral or written, if any,
relating to the subject matter hereof.

 

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(g)                                  Counterparts; Telecopy.  This Amendment and
Consent may be executed in any number of counterparts, each of which when so
executed and delivered shall be an original, but all of which shall constitute
one and the same instrument.  Delivery of an executed counterpart of a signature
page of this Amendment and Consent or any other document required to be
delivered hereunder, by fax transmission or e-mail transmission (e.g. “pdf” or
“tif”) shall be effective as delivery of a manually executed counterpart of this
Amendment and Consent.  Without limiting the foregoing, upon the request of any
party, such fax transmission or e-mail transmission shall be promptly followed
by such manually executed counterpart.

 

(h)                                 GOVERNING LAW.  THIS AMENDMENT AND CONSENT
SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK.

 

(i)                                     Successors and Assigns.  This Amendment
and Consent shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns.

 

(j)                                    Consent to Jurisdiction; Service of
Process; Waiver of Jury Trial.  The jurisdiction, service of process and waiver
of jury trial provisions set forth in Sections 10.14 and 10.15 of the Credit
Agreement are hereby incorporated by reference, mutatis mutandis.

 

(k)                                 No Waiver. The execution, delivery and
effectiveness of this Amendment and Consent shall not operate as a waiver of any
right, power or remedy of any Lender or the Administrative Agent under any of
the Loan Documents, nor constitute a waiver of any provision of any of the Loan
Documents.

 

[Remainder of this page blank; signature pages follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment and Consent to
be duly executed and delivered by their respective duly authorized officers as
of the Effective Date.

 

 

BORROWER:

 

 

 

ENLINK MIDSTREAM PARTNERS, LP

 

 

 

 

By:

EnLink Midstream GP, LLC,

 

 

its general partner

 

 

 

 

 

 

 

 

By:

/s/ Ruben Garcia Espejo

 

 

Name:

Ruben Garcia Espejo

 

 

Title:

Vice President — Finance and Treasurer

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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ADMINISTRATIVE AGENT:

 

 

 

BANK OF AMERICA, N.A., as Administrative Agent

 

 

 

 

 

 

 

By:

/s/ Don B. Pinzon

 

Name:

Don B. Pinzon

 

Title:

Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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LENDERS:

 

 

 

BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender

 

 

 

 

 

 

 

By:

/s/ Christopher DiBiase

 

Name:

Christopher DiBiase

 

Title:

Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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CITIBANK, N.A., as a Lender and L/C Issuer

 

 

 

 

 

 

 

By:

/s/ Michael Zeller

 

Name:

Michael Zeller

 

Title:

Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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WELLS FARGO BANK, N.A., as a Lender and L/C Issuer

 

 

 

 

 

 

 

By:

/s/ Brandon Kast

 

Name:

Brandon Kast

 

Title:

Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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BANK OF MONTREAL, as a Lender

 

 

 

 

 

 

 

By:

/s/ Wynette Chan

 

Name:

Wynette Chan

 

Title:

Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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ROYAL BANK OF CANADA, as a Lender

 

 

 

 

 

 

 

By:

/s/ Jay T. Sartain

 

Name:

Jay T. Sartain

 

Title:

Authorized Signatory

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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BARCLAYS BANK PLC, as a Lender

 

 

 

 

 

By:

/s/ Martin Corrigan

 

Name:

Martin Corrigan

 

Title:

Associate

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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COMPASS BANK, as a Lender

 

 

 

 

 

By:

/s/ Mark H. Wolf

 

Name:

Mark H. Wolf

 

Title:

Senior Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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COMERICA BANK, as a Lender

 

 

 

 

 

 

By:

/s/ Jeffrey M. LaBauve

 

Name:

Jeffrey M. LaBauve

 

Title:

Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

 

 

 

 

 

 

By:

/s/ Nupur Kumar

 

Name:

Nupur Kumar

 

Title:

Authorized Signatory

 

 

 

 

 

 

 

By:

/s/ Sophie Bulliard

 

Name:

Sophie Bulliard

 

Title:

Authorized Signatory

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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GOLDMAN SACHS BANK USA, as a Lender

 

 

 

 

 

 

By:

/s/ Chris Lam

 

Name:

Chris Lam

 

Title:

Authorized Signatory

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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JPMORGAN CHASE BANK, N.A., as a Lender

 

 

 

 

 

 

By:

/s/ Debra Hrelja

 

Name:

Debra Hrelja

 

Title:

Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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MORGAN STANLEY BANK, N.A., as a Lender

 

 

 

 

 

 

By:

/s/ Jake Dowden

 

Name:

Jake Dowden

 

Title:

Authorized Signatory

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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PNC BANK, NATIONAL ASSOCIATION, as a Lender

 

 

 

 

 

 

By:

/s/ Sean Piper

 

Name:

Sean Piper

 

Title:

AVP

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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MIZUHO BANK, LTD., as a Lender

 

 

 

 

 

 

By:

/s/ Donna DeMagistris

 

Name:

Donna DeMagistris

 

Title:

Authorized Signatory

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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MUFG BANK, LTD., as a Lender

 

 

 

 

 

By:

/s/ Mark Oberreuter

 

Name:

Mark Oberreuter

 

Title:

Authorized Signatory

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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U.S. BANK NATIONAL ASSOCIATION, as a Lender

 

 

 

 

 

By:

/s/ Patrick Jeffrey

 

Name:

Patrick Jeffrey

 

Title:

Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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SUNTRUST BANK, as a Lender

 

 

 

 

 

By:

/s/ Benjamin L. Brown

 

Name:

Benjamin L. Brown

 

Title:

Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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BRANCH BANKING AND TRUST COMPANY, as a Lender

 

 

 

 

 

By:

/s/ Lincoln LaCour

 

Name:

Lincoln LaCour

 

Title:

Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Lender

 

 

 

 

 

By:

/s/ Dixon Schultz

 

Name:

Dixon Schultz

 

Title:

Managing Director

 

 

 

 

 

 

 

By:

/s/ Michael Willis

 

Name:

Michael Willis

 

Title:

Managing Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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SCOTIABANC INC., as a Lender

 

 

 

 

 

By:

/s/ J. Lima

 

Name:

J. Lima

 

Title:

Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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THE HUNTINGTON NATIONAL BANK, as a Lender

 

 

 

 

 

By:

/s/ Christopher Renyi

 

Name:

Christopher Renyi

 

Title:

Senior Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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REGIONS BANK, as a Lender

 

 

 

 

 

By:

/s/ David Valentine

 

Name:

David Valentine

 

Title:

Managing Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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ZB, N.A. dba AMEGY BANK, as a Lender

 

 

 

 

 

By:

/s/ Jill McSorley

 

Name:

Jill McSorley

 

Title:

Senior Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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FIFTH THIRD BANK, as a Lender

 

 

 

 

 

By:

/s/ Larry Hayes

 

Name:

Larry Hayes

 

Title:

Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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RAYMOND JAMES BANK N.A., as a Lender

 

 

 

 

 

By:

/s/ Scott G. Axelrod

 

Name:

Scott G. Axelrod

 

Title:

Senior Vice President

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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SUMITOMO MITSUI BANKING CORPORATION, as a Lender

 

 

 

 

 

By:

/s/ James D. Weinstein

 

Name:

James D Weinstein

 

Title:

Managing Director

 

Signature Page to Second Amendment to Credit Agreement (ENLK)

 

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