Exhibit 10.1

AMENDMENT NO. 2 TO THE FOURTH AMENDED AND RESTATED

CREDIT AND REIMBURSEMENT AGREEMENT

Dated as of July 29, 2010

AMENDMENT NO. 2 TO THE FOURTH AMENDED AND RESTATED CREDIT AND REIMBURSEMENT
AGREEMENT (this “Amendment”) among The AES Corporation, a Delaware corporation
(the “Borrower”), the Subsidiary Guarantors, the Bank Parties listed on the
signature pages hereto, CITICORP USA, INC., as administrative agent (the
“Agent”) and CITIBANK, N.A., as Collateral Agent, for the Bank Parties (the
“Collateral Agent”).

PRELIMINARY STATEMENTS

(1) WHEREAS, the Borrower is party to a Fourth Amended and Restated Credit and
Reimbursement Agreement dated as of July 29, 2008 (as amended, amended and
restated, supplemented or otherwise modified up to the date hereof, the
“Existing Bank Credit Agreement”; capitalized terms used herein but not defined
shall be used herein as defined in the Credit Agreement) among the Subsidiary
Guarantors, Citicorp USA, Inc., as Administrative Agent and the other Bank
Parties, agents and arrangers party thereto;

(2) WHEREAS, the Borrower, the Required Banks, each Departing Revolving Credit
Loan Bank (as defined in the Credit Agreement) and each Revolving Credit Loan
Bank have agreed, subject to the terms and conditions hereinafter set forth, to
amend and restate the Existing Bank Credit Agreement as set forth below (as
amended and restated the “Credit Agreement”); and

(3) WHEREAS, certain of the Banks have agreed to increase their Revolving Credit
Loan Commitments and other have elected to reduce their Revolving Credit Loan
Commitments, which will result in the Revolving Credit Loan Commitments being as
set forth on Appendix I to the Existing Bank Credit Agreement, as amended and
restated hereby.

NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the sufficiency and receipt of all of which is hereby
acknowledged, the parties hereto hereby agree as follows:

SECTION 1. Amendment. As of the Effective Date, the Existing Bank Credit
Agreement is hereby amended and restated as set forth in Annex A hereto. Each
Bank, by executing this Amendment hereby confirms that, on the Effective Date,
after giving effect to (a) each Departing Revolving Credit Loan Bank’s and each
Reducing Revolving Credit Bank’s (as defined in the Credit Agreement) sale and
assignment of its Total Outstandings and Revolving Credit Loan Commitment and
(b) each Assignee Revolving Credit Bank’s (as defined in the Credit Agreement)
purchase and assumption of such Total Outstandings and Revolving Credit Loan
Commitments, the Revolving Credit Commitment of such Bank shall be as set forth
on such Bank’s executed signature page to this Amendment No. 2.

--------------------------------------------------------------------------------

SECTION 2. Conditions to Effectiveness. This Amendment shall become effective
when, and only when, and as of the date (the “Effective Date”) on which:

(a) the Agent shall have received counterparts of this Amendment executed by the
Borrower and each of the Subsidiary Guarantors, the Required Banks, each
Departing Revolving Credit Loan Bank and each Revolving Credit Loan Bank or, as
to any of the Required Banks or Revolving Credit Loan Banks, advice satisfactory
to the Agent that such Bank Party has executed this Amendment;

(b) the Agent shall have received payment of all accrued fees and expenses of
the Arranger Parties (including the reasonable and accrued fees of counsel to
the Agent invoiced on or prior to the date hereof);

(c) each Departing Revolving Credit Loan Bank and each Reducing Revolving Credit
Bank shall have received payment in full of all accrued interest and fees owing
to it under the Existing Bank Credit Agreement with respect to that portion of
its Revolving Credit Loan Commitment being sold and assigned on the Effective
Date;

(d) each Bank that executes a counterpart to this Amendment on or before 12:00
p.m. (New York City time) on Wednesday, July 28, 2010, shall have received a
commitment fee in an amount in respect of such Bank’s Revolving Credit Loan
Commitment (as set forth on Appendix I to the Credit Agreement) as follows:

 

Bank’s Revolving Credit Loan Commitment

   Commitment Fee  

$75,000,000 or greater

   1.125 % 

$55,000,000- $74,999,999

   1.00 % 

less than $55,000,000

   0.75 % 

(e) the Agent shall have received a favorable opinion or opinions of counsel to
the Borrower regarding the due authorization, execution and delivery and
enforceability of this Amendment and other matters reasonably requested by the
Agent;

(f) the Agent shall have received a certificate signed by a duly authorized
officer of the Borrower dated the Effective Date, to the effect that, after
giving effect to this Amendment: (i) the representations and warranties
contained in each of the Financing Documents are true and correct in all
material respects on and as of the Effective Date as though made on and as of
such date (unless stated to relate solely to an earlier date, in which case such
representations and warranties are true and correct in all material respects as
of such earlier date); and (ii) no Default has occurred and is continuing; and

 

2    AES – Amendment No. 2

--------------------------------------------------------------------------------

(g) the Agent shall have received certified copies of (A) the resolutions of the
Board of Directors of the Borrower and each of the Subsidiary Guarantors
approving this Amendment and the matters contemplated hereby and (B) all other
documents evidencing other necessary corporate action and governmental or other
third party approvals and consents, if any, with respect to this Amendment and
the matters contemplated hereby.

This Amendment is subject to the provisions of Section 10.05 of the Credit
Agreement.

SECTION 3. Representations and Warranties. The Borrower represents and warrants
as follows:

(a) The representations and warranties contained in each of the Financing
Documents, after giving effect to this Amendment, are correct in all material
respects on and as of the date of this Amendment, as though made on and as of
such date (unless stated to relate solely to an earlier date, in which case such
representations and warranties are true and correct in all material respects as
of such earlier date).

(b) After giving effect to this Amendment, no Default has occurred and is
continuing on the date hereof.

SECTION 4. Reference to and Effect on the Financing Documents. (a) On and after
the Effective Date, each reference in the Credit Agreement to “this Agreement”,
“hereunder”, “hereof” or words of like import referring to the Credit Agreement,
and each reference in the Notes and each of the other Financing Documents to
“the Agreement”, “thereunder”, “thereof”, or words of like import referring to
the Credit Agreement shall mean and be a reference to the Credit Agreement, as
amended and restated hereby.

(b) The Credit Agreement, the Notes and each of the other Financing Documents,
as specifically modified by this Amendment, are and shall continue to be in full
force and effect and are hereby in all respects ratified and confirmed. Without
limiting the generality of the foregoing, the Collateral Documents and all of
the Collateral described therein do and shall continue to secure the payment of
all Obligations of the Loan Parties under the Financing Documents, in each case
as modified by this Amendment.

(c) The execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or
remedy of the Banks, nor constitute an amendment or waiver of any provision of
the Credit Agreement or the other Financing Documents.

SECTION 5. Affirmation of Subsidiary Guarantors. Each Subsidiary Guarantor
hereby consents to the amendments to the Credit Agreement effected hereby, and
hereby confirms and agrees that, notwithstanding the effectiveness of this
Amendment, the obligations of such Subsidiary Guarantor contained in Article IX
of the Credit Agreement or in any other Financing Documents to which it is a
party are, and shall remain, in full force and effect and are hereby ratified
and confirmed in all respects, except that, on and after the effectiveness of
this Amendment, each reference in Article IX of the Credit Agreement and in each
of the other Financing Documents to “the Agreement”, “thereunder”, “thereof” or
words of like import shall

 

3    AES – Amendment No. 2

--------------------------------------------------------------------------------

mean and be a reference to the Credit Agreement, as modified by this Amendment.
Without limiting the generality of the foregoing, the Collateral Documents to
which such Subsidiary Guarantor is a party and all of the Collateral described
therein do, and shall continue to secure, payment of all of the Secured
Obligations (in each case, as defined therein).

SECTION 6. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

SECTION 7. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES
ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER
BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS
AMENDMENT OR THE ACTIONS OF THE COLLATERAL TRUSTEES OR THE AGENT IN THE
NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

SECTION 8. Execution in Counterparts. This Amendment may be executed by one or
more of the parties to this Amendment on any number of separate counterparts,
and all of said counterparts taken together shall be deemed to constitute one
and the same instrument. Delivery of an executed counterpart of a signature page
to this Amendment by facsimile or electronic transmission shall be effective as
delivery of a manually executed counterpart of this Amendment

SECTION 9. Costs and Expenses. The Borrower hereby agrees to pay all reasonable
costs and expenses associated with the preparation, execution, delivery,
administration, and enforcement of this Amendment, including, without
limitation, the fees and expenses of the Collateral Trustees’ and the Agent’s
counsel and other out-of-pocket expenses related hereto.

[Signature Pages Follow]

 

4    AES – Amendment No. 2

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their respective proper and duly authorized officers
as of the day and year first above written.

 

THE AES CORPORATION,

as Borrower

By:  

/s/ Willard C. Hoagland, III

Title:   Vice President and Treasurer Address:   4300 Wilson Boulevard  
Arlington, VA 22203 Fax:   (703) 528-4510

 

[Signature Page]    AES – Amendment No. 2

--------------------------------------------------------------------------------

SUBSIDIARY GUARANTORS:

AES HAWAII MANAGEMENT COMPANY, INC.,

as Subsidiary Guarantor

By:  

/s/ Willard C. Hoagland, III

Name:   Willard C. Hoagland, III Title:   Treasurer

AES NEW YORK FUNDING, L.L.C.,

as Subsidiary Guarantor

By:  

/s/ Willard C. Hoagland, III

Name:   Willard C. Hoagland, III Title:   Treasurer

AES OKLAHOMA HOLDINGS, L.L.C.,

as Subsidiary Guarantor

By:  

/s/ Willard C. Hoagland, III

Name:   Willard C. Hoagland, III Title:   Treasurer

AES WARRIOR RUN FUNDING, L.L.C.,

as Subsidiary Guarantor

By:  

/s/ Willard C. Hoagland, III

Name:   Willard C. Hoagland, III Title:   Treasurer

 

[Signature Page]    AES – Amendment No. 2

--------------------------------------------------------------------------------

AGENTS:

 

CITICORP USA, INC.,

as Agent

By:   /s/ Kirkwood Roland  

Name: Kirkwood Roland

 

Title: Vice President

 

CITIBANK N.A.,

as Collateral Agent

By:   /s/ Kirkwood Roland  

Name: Kirkwood Roland

 

Title: Vice President

 

7    AES – Amendment No. 2

--------------------------------------------------------------------------------

CITIBANK, N.A. as Bank

 

By:   /s/ Kirkwood Roland  

Name: Kirkwood Roland

 

Title: Vice President

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  60,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

8    AES – Amendment No. 2

--------------------------------------------------------------------------------

Bank of America, N.A. as Bank

 

By:   /s/ Patrick Martin  

Name: Patrick Martin

 

Title: Senior Vice President

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  60,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

9    AES – Amendment No. 2

--------------------------------------------------------------------------------

BARCLAYS BANK PLC as Bank

 

By:   /s/ Ann E. Sutton  

Name: Ann E. Sutton

 

Title: Director

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  35,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

10    AES – Amendment No. 2

--------------------------------------------------------------------------------

Credit Suisse AG, Cayman Islands Branch as Bank

 

By:   /s/ Nupur Kumar  

Name: Nupur Kumar

 

Title: Vice President

 

By:   /s/ Lynne-Marie Paquette  

Name: Lynne-Marie Paquette

 

Title: Associate

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  30,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

11    AES – Amendment No. 2

--------------------------------------------------------------------------------

Deutsche Bank Trust Company Americas as Bank

 

By:   /s/ Marcus M. Tarkington  

Name: Marcus M. Tarkington

 

Title: Director

 

By:   /s/ Marguerite Sutton  

Name: Marguerite Sutton

 

Title: Director

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  60,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

12    AES – Amendment No. 2

--------------------------------------------------------------------------------

MORGAN STANLEY BANK, N.A. as Bank

 

By:   /s/ Ryan Vetsch  

Name: Ryan Vetsch

 

Title: Authorized Signatory

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  60,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

13    AES – Amendment No. 2

--------------------------------------------------------------------------------

Royal Bank of Scotland plc as Bank

 

By:   /s/ Paul Chisholm  

Name: Paul Chisholm

 

Title: Vice President

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  0.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

14    AES – Amendment No. 2

--------------------------------------------------------------------------------

Union Bank, N.A. as Bank

 

By:   /s/ Susan K. Johnson  

Name: Susan K. Johnson

 

Title: Vice President

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  50,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  75,000,000.00                         

 

15    AES – Amendment No. 2

--------------------------------------------------------------------------------

GOLDMAN SACHS BANK USA as Bank

 

By:   /s/ Mark Walton  

Name: Mark Walton

 

Title: Authorized Signatory

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  30,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  50,000,000.00                         

 

16    AES – Amendment No. 2

--------------------------------------------------------------------------------

JPMorgan Chase Bank, N.A. as Bank

 

By:   /s/ Juan J. Javellana  

Name: Juan J. Javellana

 

Title: Vice President

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  60,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  50,000,000.00                         

 

17    AES – Amendment No. 2

--------------------------------------------------------------------------------

HSBC Bank USA, National Association as Bank

 

By:   /s/ William S. Edge III  

Name: William S. Edge III

 

Title: Managing Director

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  0.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  25,000,000.00                         

 

18    AES – Amendment No. 2

--------------------------------------------------------------------------------

Société Générale as Bank

 

By:   /s/ Yao Wang  

Name: Yao Wang

 

Title: Vice President

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  0.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  25,000,000.00                         

 

19    AES – Amendment No. 2

--------------------------------------------------------------------------------

BNP Paribas as Bank

 

By:   /s/ Pasquale A. Perraglia IV  

Name: Pasquale A. Perraglia IV

 

Title: Vice President

 

By:   /s/ Denis O’Meara  

Name: Denis O’Meara

 

Title: Managing Director

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  25,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  25,000,000.00                         

 

20    AES – Amendment No. 2

--------------------------------------------------------------------------------

Credit Agricole Corporate and Investment Bank as Bank

 

By:   /s/ Nina Eshoo  

Name: Nina Eshoo

 

Title: Managing Director

 

By:   /s/ Deborah Kross  

Name: Deborah Kross

 

Title: Director

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  35,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  25,000,000.00                         

 

21    AES – Amendment No. 2

--------------------------------------------------------------------------------

Merrill Lynch Capital Corporation as Bank

 

By:   /s/ Kaia Updike  

Name: Kaia Updike

 

Title: Vice President

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  25,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  0.00                         

 

22    AES – Amendment No. 2

--------------------------------------------------------------------------------

THE ROYAL BANK OF SCOTLAND N.V. (formerly known as ABN AMRO Bank N.V.). as Bank

 

By:   /s/ David J. Deegan  

Name: David J. Deegan

 

Title: Attorney-in-Fact

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  25,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  0.00                         

 

23    AES – Amendment No. 2

--------------------------------------------------------------------------------

UBS Loan Finance LLC as Bank

 

By:   /s/ Irja R. Otsa  

Name: Irja R. Otsa

 

Title: Associate Director

 

By:   /s/ April Varner-Nanton  

Name: April Varner-Nanton

 

Title: Director

Revolving Credit Loan Commitment

under Existing Bank Credit Agreement:

$  15,000,000.00                         

Revolving Credit Loan Commitment

on Effective Date under Credit Agreement:

$  0.00                         

 

24    AES – Amendment No. 2

--------------------------------------------------------------------------------

ANNEX A