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EXHIBIT 10.14

FOURTH AMENDING AGREEMENT TO
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

dated as of December 14, 2018

ALTALINK, L.P.
as Borrower
- and -
ALTALINK MANAGEMENT LTD.
as General Partner
- and -
THE BANK OF NOVA SCOTIA
as Administrative Agent of the Lenders, Co-Lead Arranger and Co-Bookrunner
- and -
ROYAL BANK OF CANADA
as Syndication Agent, Co-Lead Arranger and Co-Bookrunner
- and -
BANK OF MONTREAL AND NATIONAL BANK OF CANADA
as Co-Documentation Agents
- and -
THE BANK OF NOVA SCOTIA, ROYAL BANK OF CANADA, BANK OF MONTREAL, NATIONAL BANK
OF CANADA, THE TORONTO-DOMINION BANK AND ATB FINANCIAL,
as Lenders

 

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FOURTH AMENDING AGREEMENT TO THE FOURTH AMENDED AND RESTATED CREDIT AGREEMENT,
dated as of December 14, 2018 among AltaLink, L.P., as Borrower, AltaLink
Management Ltd., as General Partner, The Bank of Nova Scotia as Administrative
Agent of the Lenders (the “Administrative Agent”), Co-Lead Arranger and
Co-Bookrunner, Royal Bank of Canada as Syndication Agent, Co-Lead Arranger and
Co-Bookrunner, Bank of Montreal and National Bank of Canada as Co-Documentation
Agents and each of The Bank of Nova Scotia, Royal Bank of Canada, Bank of
Montreal, National Bank of Canada, The Toronto-Dominion Bank and ATB Financial,
as Lenders.
RECITALS
WHEREAS AltaLink Management Ltd., in its capacity as general partner of
AltaLink, L.P., as Borrower, the Administrative Agent and the other parties
hereto are parties to a Fourth Amended and Restated Credit Agreement made as of
December 17, 2015 as amended by a First Amending Agreement dated as of December
15, 2016, a Second Amending Agreement dated as of December 14, 2017 and a Third
Amending Agreement dated as of April 19, 2018 (the “Credit Agreement”);
AND WHEREAS the Borrower, the General Partner, the Administrative Agent and the
Lenders have agreed to amend certain provisions of the Credit Agreement in the
manner and on the terms and conditions provided for herein.
NOW THEREFORE for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows:

DEFINITIONS
1.1    Definitions
All capitalized terms not otherwise defined herein shall have the meanings
ascribed thereto in the Credit Agreement.
ARTICLE 2
AMENDMENTS
2.1    Amendments to Credit Agreement
The Credit Agreement is hereby amended as follows:
(a)    The definition of “Fee Letter” contained in Section 1.1 of the Credit
Agreement is deleted in its entirety and replaced with the following:
“Fee Letter” means the fourth amended and restated fee letter entered into
between BNS, the Borrower and the General Partner dated December 14, 2018, as
such fee letter may be amended, restated supplemented or otherwise modified from
time to time.

(b)    The definition of “Maturity Date” contained in Section 1.1 of the Credit
Agreement is deleted in its entirety and replaced with the following:

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“Maturity Date” means December 14, 2023, as may be extended pursuant to
Subsection 5.2(b).
(c)    Section 3.4 of the Credit Agreement is hereby amended by adding the
following paragraph after the first paragraph therein:
The Borrower and the General Partner acknowledge and confirm that this Section
3.4 satisfies the requirements of Section 4 of the Interest Act (Canada) to the
extent it applies to the expression or statement of any interest payable under
this Agreement and that each of the Borrower and the General Partner is able to
calculate the yearly rate or percentage of interest payable under this Agreement
based upon the methodology set out in this Section 3.4. The Borrower and the
General Partner each agree not to plead or assert, whether by way of defence or
otherwise, in any proceeding relating to this Agreement, that the interest
payable hereunder and the calculation of interest herein have not been
adequately disclosed to them, whether pursuant to Section 4 of the Interest Act
(Canada) or any other Applicable Law or legal principle.
(d)    Subsection 5.2(b) of the Credit Agreement is hereby deleted in its
entirety and replaced with the following:
(b)
By notice in writing to the Administrative Agent in the form of Schedule 3 (a
“Notice of Extension”) given not more than 90 and not less than 45 days prior to
each anniversary date of the date of this Agreement, the Borrower may request
each Lender to extend the Maturity Date of such Lender for an additional period
of 365 days. The Lenders agree that they shall give or withhold their consent in
a timely manner so that the Administrative Agent may provide a response to the
Borrower to the Notice of Extension within thirty (30) days from the date of
such receipt, provided that the decision of any Lender to extend the Maturity
Date in respect of such Lender shall be at the sole discretion of such Lender.
The Borrower shall be entitled to replace any Lender which dissents in response
to the Notice of Extension (a “Dissenting Lender”) with another existing Lender
or Lenders without the consent of any of the remaining Lenders; or to replace a
Dissenting Lender with any financial institution which is not an existing Lender
with the consent of the Administrative Agent, such consent not to be
unreasonably withheld. The Borrower shall be entitled, with the unanimous
consent of the Lenders who have agreed to extend, to permanently cancel the
Commitment of any Dissenting Lender and repay such Dissenting Lender, at which
time the Committed Amount shall be permanently reduced by the amount of such
Commitment.

(e)    Section 13.3 of the Credit Agreement is hereby amended by deleting the
notice details with respect to the Administrative Agent and/or Co-Lead Arranger
and Co-Bookrunner therein and replacing such notice details with the following:

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If to the Administrative Agent and/or Co-Lead Arranger and Co-Bookrunner:
The Bank of Nova Scotia        

Corporate Banking    

Suite 1700, 225 6th Avenue, S.W.
Calgary, AB T2P 1N2
Attention:    Director    

Facsimile:    403.221.6497
(f)    Schedule 3 of the Credit Agreement is hereby amended by deleting the
reference therein to “three hundred and sixty-four (364)” and replacing such
reference with “three hundred and sixty-five (365)”.
ARTICLE 3
CONDITIONS PRECEDENT
3.1    Conditions Precedent
This Amending Agreement shall become effective if and when:
(a)    the Administrative Agent shall have received this Amending Agreement duly
executed and delivered by the Administrative Agent, the Lenders, the Borrower
and the General Partner;
(b)    no Event of Default shall have occurred and be continuing; and
(c)    the Borrower shall have paid all fees and expenses in connection with
this Amending Agreement including those set out in the Fee Letter.
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 AND WARRANTIES
4.1    Representations and Warranties True and Correct; No Default or Event of
Default
The Borrower and General Partner each hereby represents and warrants to the
Administrative Agent and the Lenders that after giving effect to this Amending
Agreement, (i) each of the representations and warranties of the Borrower and
the General Partner, as the case may be, contained in the Credit Agreement and
each of the other Credit 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 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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ARTICLE 5
MISCELLANEOUS
5.1    No Other Amendments, Waivers or Consents
Except as expressly set forth herein, the Credit Agreement and all Credit
Documents shall be unmodified and shall continue to be in full force and effect
in accordance with their terms. The execution, delivery and effectiveness of the
waiver and amendments in this Amending Agreement shall not be deemed to be a
waiver of compliance in the future or a waiver of any preceding or succeeding
breach of any covenant or provision of the Credit Agreement.
5.2    Time
Time is of the essence in the performance of the parties’ respective obligations
in this Amending Agreement.
5.3    Governing Law
This 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.
5.4    Successors and Assigns
This 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 Administrative Agent or any Lender. Nothing in this 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 this Amending Agreement.
5.5    Counterparts
This Amending Agreement may be executed by the parties hereto in counterparts
and may be executed and delivered by facsimile or other electronic means and all
such counterparts and facsimiles shall together constitute one and the same
agreement.
[Remainder of page intentionally left blank – signature pages follow]

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IN WITNESS OF WHICH the parties hereto have duly executed this Amending
Agreement as of the date set forth on the first page of this Agreement.

 
 
ALTALINK MANAGEMENT LTD.,
in its capacity as General Partner of ALTALINK, L.P.

By:
/s/ David Koch
 
Name: David Koch
 
Title: Executive Vice President  
   and CFO
 
 
By:
/s/ Christopher J. Lomore
 
Name: Christopher J. Lomore
 
Title: Vice President, Treasurer

 
 
ALTALINK MANAGEMENT LTD.

By:
/s/ David Koch
 
Name: David Koch
 
Title: Executive Vice President  
   and CFO
 
 
By:
/s/ Christopher J. Lomore
 
Name: Christopher J. Lomore
 
Title: Vice President, Treasurer

AltaLink – Fourth Amending Agreement to Fourth Amended and Restated Credit
Agreement

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THE BANK OF NOVA SCOTIA, as Administrative Agent, Co-Lead Arranger and
Co-Bookrunner

By:
/s/ Jonathan Leach
 
Name: Jonathan Leach
 
Title: Associate Director
 
 
By:
/s/ Scarlett Crockatt
 
Name: Scarlett Crockatt
 
Title: Director

 
 
THE BANK OF NOVA SCOTIA, as Lender

By:
/s/ Jonathan Leach
 
Name: Jonathan Leach
 
Title: Associate Director
 
 
By:
/s/ Scarlett Crockatt
 
Name: Scarlett Crockatt
 
Title: Director

AltaLink – Fourth Amending Agreement to Fourth Amended and Restated Credit
Agreement

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ROYAL BANK OF CANADA, as Syndication Agent, Co-Lead Arranger, and Co-Bookrunner

By:
/s/ Timothy P Murray
 
Name: Timothy P. Murray
 
Title: Authorized Signatory

 
 
ROYAL BANK OF CANADA, as Lender

By:
/s/ Timothy P Murray
 
Name: Timothy P. Murray
 
Title: Authorized Signatory

AltaLink – Fourth Amending Agreement to Fourth Amended and Restated Credit
Agreement

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BANK OF MONTREAL, as Co-Documentation Agent

By:
/s/ Carol McDonald
 
Name: Carol McDonald
 
Title: Managing Director
 
 
By:
/s/ Lisa Dang
 
Name: Lisa Dang
 
Title: Associate

 
 
BANK OF MONTREAL,
as Lender

By:
/s/ Carol McDonald
 
Name: Carol McDonald
 
Title: Managing Director
 
 
By:
/s/ Lisa Dang
 
Name: Lisa Dang
 
Title: Associate

AltaLink – Fourth Amending Agreement to Fourth Amended and Restated Credit
Agreement

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NATIONAL BANK OF CANADA, as Co-Documentation Agent

By:
/s/ James Dexter
 
Name: James Dexter
 
Title: Authorized Signatory
 
 
By:
/s/ Mark Williamson
 
Name: Mark Williamson
 
Title: Authorized Signatory

 
 
NATIONAL BANK OF CANADA,
as Lender

By:
/s/ James Dexter
 
Name: James Dexter
 
Title: Authorized Signatory
 
 
By:
/s/ Mark Williamson
 
Name: Mark Williamson
 
Title: Authorized Signatory

AltaLink – Fourth Amending Agreement to Fourth Amended and Restated 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

AltaLink – Fourth Amending Agreement to Fourth Amended and Restated Credit
Agreement

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- 6 -

 
 
ATB FINANCIAL, as Lender

By:
/s/ Trevor Guinard
 
Name: Trevor Guinard
 
Title: Director
 
 
By:
/s/ Evan Hahn
 
Name: Evan Hahn
 
Title: Portfolio Manager

AltaLink – Fourth Amending Agreement to Fourth Amended and Restated Credit
Agreement