Exhibit 10.1

 

THIRTEENTH AMENDMENT TO FOURTH AMENDED AND RESTATED

CREDIT AGREEMENT

 

This THIRTEENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”) is made as of September 8, 2014, by and among ANTERO RESOURCES
CORPORATION, a Delaware corporation (the “Borrower”), CERTAIN SUBSIDIARIES OF
BORROWER, as Guarantors, the LENDERS party hereto, and JPMORGAN CHASE BANK,
N.A., as Administrative Agent (in such capacity, the “Administrative Agent”). 
Unless otherwise expressly defined herein, capitalized terms used but not
defined in this Amendment have the meanings assigned to such terms in the Credit
Agreement (as defined below).

 

WITNESSETH:

 

WHEREAS, Borrower, the Guarantors, the Administrative Agent and the Lenders have
entered into that certain Fourth Amended and Restated Credit Agreement, dated as
of November 4, 2010 (as amended, restated, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the Administrative Agent, the Lenders, Borrower and the Guarantors have
agreed to amend the Credit Agreement as provided herein subject to the terms and
conditions set forth herein.

 

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged and confessed, Borrower, the
Guarantors, the Administrative Agent and the Lenders hereby agree as follows:

 

SECTION 1.                                       Amendments to Credit
Agreement.  Subject to the satisfaction or waiver in writing of each condition
precedent set forth in Section 2 of this Amendment, and in reliance on the
representations, warranties, covenants and agreements contained in this
Amendment, the Credit Agreement shall be amended in the manner provided in this
Section 1.

 

1.1                               Additional Definitions.  The following
definitions shall be and they hereby are added to Section 1.01 of the Credit
Agreement in appropriate alphabetical order:

 

“Thirteenth Amendment Effective Date” means September 8, 2014.

 

1.2                               Additional Reductions in Borrowing Base. 
Section 3.06 of the Credit Agreement, shall be and it hereby is amended and
restated in its entirety as follows:

 

Unless otherwise waived in writing by the Required Lenders, upon the issuance of
any Senior Notes by any Credit Party in accordance with Section 7.01(h) (other
than any Permitted Refinancing that extends, refinances, renews, replaces,
defeases or refunds existing Senior Notes), the Borrowing Base then in effect
shall automatically be reduced by $250 for each $1,000 in stated principal
amount of such Senior Notes on the date such Senior Notes are issued; provided
that no such reduction shall be required with respect

 

ANTERO RESOURCES CORPORATION

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

 

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to any Senior Notes in a stated principal amount of up to $1,000,000,000 issued
from and including the Thirteenth Amendment Effective Date to but excluding the
next Scheduled Redetermination of the Borrowing Base.

 

SECTION 2.                                       Conditions.  The amendments to
the Credit Agreement contained in Section 1 of this Amendment shall be effective
upon the satisfaction of each of the conditions set forth in this Section 2.

 

2.1                               Execution and Delivery.  Each Credit Party,
the Lenders (or at least the required percentage thereof), and the
Administrative Agent shall have executed and delivered this Amendment.

 

2.2                               No Default.  No Default shall have occurred
and be continuing or shall result from the effectiveness of this Amendment.

 

SECTION 3.                                       Representations and Warranties
of Credit Parties.  To induce the Lenders to enter into this Amendment, each
Credit Party hereby represents and warrants to the Lenders as follows:

 

3.1                               Reaffirmation of Representations and
Warranties/Further Assurances.  After giving effect to the amendments herein,
each representation and warranty of such Credit Party contained in the Credit
Agreement and in each of the other Loan Documents is true and correct in all
material respects as of the date hereof (except to the extent such
representations and warranties specifically refer to an earlier date, in which
case they are true and correct in all material respects as of such earlier
date).

 

3.2                               Reaffirmation of Guarantee.  Both before and
immediately after giving effect to this Amendment, each Guarantor hereby
expressly reaffirms its guarantee of the Guaranteed Liabilities under
Article VIII of the Credit Agreement.

 

3.3                               Corporate Authority; No Conflicts.  The
execution, delivery and performance by each Credit Party of this Amendment are
within such Credit Party’s corporate or other organizational powers, have been
duly authorized by necessary action, require no action by or in respect of, or
filing with, any court or agency of government and do not violate or constitute
a default under any provision of any applicable law or other agreements binding
upon any Credit Party or result in the creation or imposition of any Lien upon
any of the assets of any Credit Party except for Permitted Liens and otherwise
as permitted in the Credit Agreement.

 

3.4                               Enforceability.  This Amendment constitutes
the valid and binding obligation of Borrower and each other Credit Party
enforceable in accordance with its terms, except as (i) the enforceability
thereof may be limited by bankruptcy, insolvency or similar laws affecting
creditor’s rights generally, and (ii) the availability of equitable remedies may
be limited by equitable principles of general application.

 

3.5                               No Default.  As of the date hereof, both
before and immediately after giving effect to this Amendment, no Default has
occurred and is continuing.

 

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SECTION 4.                                       Miscellaneous.

 

4.1                               Reaffirmation of Loan Documents and Liens. 
Any and all of the terms and provisions of the Credit Agreement and the Loan
Documents shall, except as amended and modified hereby, remain in full force and
effect and are hereby in all respects ratified and confirmed by each Credit
Party.  Borrower and each Guarantor hereby agrees that the amendments and
modifications herein contained shall in no manner affect or impair the
liabilities, duties and obligations of any Credit Party under the Credit
Agreement and the other Loan Documents or the Liens securing the payment and
performance thereof.

 

4.2                               Parties in Interest.  All of the terms and
provisions of this Amendment shall bind and inure to the benefit of the parties
hereto and their respective successors and assigns.

 

4.3                               Legal Expenses.  Each Credit Party hereby
agrees to pay all reasonable fees and expenses of special counsel to the
Administrative Agent incurred by the Administrative Agent in connection with the
preparation, negotiation and execution of this Amendment and all related
documents.

 

4.4                               Counterparts.  This Amendment may be executed
in one or more counterparts and by different parties hereto in separate
counterparts each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the
same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature
pages are physically attached to the same document.  Delivery of photocopies of
the signature pages to this Amendment by facsimile or electronic mail shall be
effective as delivery of manually executed counterparts of this Amendment.

 

4.5                               Headings.  The headings, captions and
arrangements used in this Amendment are, unless specified otherwise, for
convenience only and shall not be deemed to limit, amplify or modify the terms
of this Amendment, nor affect the meaning thereof.

 

4.6                               Governing Law.  This Amendment shall be
construed in accordance with and governed by the laws of the State of New York.

 

4.7                               Loan Document.  This Amendment shall
constitute a Loan Document for all purposes and in all respects.

 

[Remainder of page intentionally blank.

Signature pages follow.]

 

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IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed
by their respective authorized officers to be effective as of the date first
above written.

 

 

BORROWER:

 

 

 

ANTERO RESOURCES CORPORATION

 

 

 

 

 

By:

/s/ Alvyn A. Schopp

 

 

Name:

Alvyn A. Schopp

 

 

Title:

Chief Administrative Officer and Regional Vice President

 

 

 

 

 

GUARANTORS:

 

 

 

 

 

ANTERO RESOURCES MIDSTREAM LLC

 

 

 

 

 

By:

/s/ Alvyn A. Schopp

 

 

Name:

Alvyn A. Schopp

 

 

Title:

Chief Administrative Officer and Regional Vice President

 

 

 

 

 

ANTERO MIDSTREAM LLC

 

 

 

 

 

By:

/s/ Alvyn A. Schopp

 

 

Name:

Alvyn A. Schopp

 

 

Title:

Chief Administrative Officer and Regional Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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JPMORGAN CHASE BANK, N.A.,

 

as Administrative Agent, Issuing Bank and a Lender

 

 

 

 

 

By:

/s/ David Morris

 

 

Name:

David Morris

 

 

Title:

Authorized Officer

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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WELLS FARGO BANK, N.A.,

 

as Syndication Agent and a Lender

 

 

 

 

 

By:

/s/ Suzanne Ridenhour

 

 

Name:

Suzanne Ridenhour

 

 

Title:

Director

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

 

as Co-Documentation Agent and a Lender

 

 

 

 

 

By:

/s/ Mark Roche

 

 

Name:

Mark Roche

 

 

Title:

Managing Director

 

 

 

 

 

 

 

 

 

By:

/s/ Michael Willis

 

 

Name:

Michael Willis

 

 

Title:

Managing Director

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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UNION BANK, N.A.,

 

as Co-Documentation Agent and a Lender

 

 

 

 

 

By:

/s/ Lara Sorokolit

 

 

Name:

Lara Sorokolit

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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CITIBANK, N.A.,

 

as a Lender

 

 

 

 

 

By:

/s/ Eamon Baqui

 

 

Name:

Eamon Baqui

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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BARCLAYS BANK PLC,

 

as a Lender

 

 

 

 

 

By:

/s/ Vanessa A. Kurbatskiy

 

 

Name:

Vanessa A. Kurbatskiy

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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CAPITAL ONE, NATIONAL ASSOCIATION,

 

as a Lender

 

 

 

 

 

By:

/s/ Victor Ponce de León

 

 

Name:

Victor Ponce de León

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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TORONTO DOMINION (NEW YORK) LLC,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Masrood Fikree

 

 

Name:

Masrood Fikree

 

 

Title:

Authorized Signatory

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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COMERICA BANK,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Devin S. Eaton

 

 

Name:

Devin S. Eaton

 

 

Title:

Relationship Manager

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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BMO HARRIS BANK N.A.,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Melissa Guzmann

 

 

Name:

Melissa Guzmann

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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U.S. BANK NATIONAL ASSOCIATION,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Daniel K. Hansen

 

 

Name:

Daniel K. Hansen

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Michael Spaight

 

 

Name:

Michael Spaight

 

 

Title:

Authorized Signatory

 

 

 

 

 

 

 

By:

/s/ Samuel Miller

 

 

Name:

Samuel Miller

 

 

Title:

Authorized Signatory

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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THE BANK OF NOVA SCOTIA,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Alan Dawson

 

 

Name:

Alan Dawson

 

 

Title:

Director

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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BRANCH BANKING AND TRUST COMPANY,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ James Giordano

 

 

Name:

James Giordano

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH,

 

as a Lender

 

 

 

 

 

 

By:

/s/ Richard Antl

 

 

Name:

Richard Antl

 

 

Title:

Authorized Signatory

 

 

 

 

 

 

 

By:

/s/ William M. Reid

 

 

Name:

William M. Reid

 

 

Title:

Authorized Signatory

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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KEYBANK NATIONAL ASSOCIATION,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ John Dravenstott

 

 

Name:

John Dravenstott

 

 

Title:

Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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ABN AMRO CAPITAL USA LLC,

 

as a Lender

 

 

 

 

 

By:

/s/ Darrell Holley

 

 

Name:

Darrell Holley

 

 

Title:

Managing Director

 

 

 

 

 

 

 

 

 

By:

/s/ David Montgomery

 

 

Name:

David Montgomery

 

 

Title:

Executive Director

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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PNC BANK NATIONAL ASSOCIATION,

 

as a Lender

 

 

 

 

 

By:

/s/ Jonathan Luchansky

 

 

Name:

Jonathan Luchansky

 

 

Title:

Assistant Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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SUMITOMO MITSUI BANKING CORPORATION,

 

as a Lender

 

 

 

 

 

By:

/s/ Katsuyuki Kobo

 

 

Name:

Katsuyuki Kobo

 

 

Title:

Managing Director

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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FIFTH THIRD BANK,

 

as a Lender

 

 

 

 

 

By:

/s/ Justin Crawford

 

 

Name:

Justin Crawford

 

 

Title:

Director

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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GUARANTY BANK AND TRUST COMPANY,

 

as a Lender

 

 

 

 

 

By:

/s/ Gail J. Nofsinger

 

 

Name:

Gail J. Nofsinger

 

 

Title:

Senior Vice President

 

ANTERO RESOURCES CORPORATION

 

THIRTEENTH AMENDMENT TO CREDIT AGREEMENT

SIGNATURE PAGE

 

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