Document:

Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT NO. 4 TO AMENDED AND RESTATED
CREDIT AGREEMENT

AND EXTENSION AGREEMENT 

 

AMENDMENT NO. 4
TO AMENDED AND RESTATED CREDIT AGREEMENT AND EXTENSION AGREEMENT dated as of September 1, 2017 (this “Amendment”),
among Spectra Energy Partners, LP, a Delaware limited partnership (the “Borrower”),
each Lender (as defined below) party hereto (each, an “Extended Lender”), each Issuing Bank (as defined in the
below described Credit Agreement) and Citibank, N.A., in its capacity as administrative agent for the Lenders (in such capacity,
the “Agent”).

 

Reference is hereby made
to the Amended and Restated Credit Agreement dated as of November 1, 2013 (as heretofore amended, restated, supplemented or otherwise
modified, the “Credit Agreement,” and as amended by this Amendment, the “Amended Credit Agreement”),
by and among the Borrower, the lenders from time to time party thereto (the “Lenders”) and the Agent.

 

The Borrower has requested
that (a) the Credit Agreement be amended to, among other things, permit (i) the date of August 3, 2022 to be the
initial extension date pursuant to Section 2.05(e) of the Amended Credit Agreement and (ii) subsequent extensions following
the initial extension date pursuant to Section 2.05(e) to be for additional one-year periods thereafter, and (b) the
Termination Date be extended to August 3, 2022 pursuant to Section 2.05(e) of the Amended Credit Agreement (the “Extension”),
and, subject to the terms and conditions contained in this Amendment, the Extended Lenders have agreed to the amendments set forth
herein and the Extension.

 

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

Section
1.            Definitions. Except as otherwise defined
in this Amendment, terms defined in the Amended Credit Agreement are used herein as defined therein. The applicable interpretive
provisions of the Amended Credit Agreement shall apply to this Amendment.

 

Section
2.            Amendments. Subject to the satisfaction of the conditions
precedent specified in Section 5 of this Amendment, the Credit Agreement shall be amended as follows:

 

2.01        Section 1.01
of the Credit Agreement shall be amended by restating the following existing definitions contained therein as follows:

 

“Revolving Lenders”
means the Initial Lenders, each Incremental Term Lender that has become a Revolving Lender pursuant to Section 2.05(f), each
Person that shall become party hereto pursuant to Amendment No. 2, and each other Person that shall become a party hereto
pursuant to an Assignment and Acceptance or pursuant to an Accession Agreement with respect to all or any portion of a Revolving
Commitment or Revolving Advance, other than (a) any such Person that ceases to be a party hereto pursuant to an Assignment
and Acceptance or Amendment No. 2, or (b) any Lender that ceases to be a Lender after its applicable Existing Termination
Date pursuant to Section 2.05(e); provided, that all claims, suits, causes of action and any other rights of such Lender
referred to in the preceding clause (b) (in its capacity as a Lender), whether known or unknown, that arise under or in connection
with the Credit Agreement on or prior to such Termination Date, shall not be terminated, diminished or novated in any respect with
respect to such Lender.”

 

     

     

    

 

“Termination Date”
means, with respect to a Lender, April 29, 2021 or such later date agreed to by such Lender from time to time in its sole
discretion pursuant to Section 2.05(e); provided, however, the Termination Date shall not be a date later than the
date of termination in whole of the Revolving Commitment pursuant to Section 2.05 or 6.01.”

 

2.02         Section 2.05(e)
shall be amended (a) to delete the red stricken text (indicated textually in the same manner as the following example: stricken
text, and (b) to add the blue double-underlined text (indicated textually
in the same manner as the following example: double-underlined text),
in each case as set forth in the marked copy of Section 2.05(e) attached hereto as Annex A hereto
and made a part hereof for all purposes.

 

2.03         Section 2.05
shall be amended by adding the following clause (g) as its concluding clause.

 

“(g)          Notwithstanding
notice periods and effective dates provided for in Section 2.05(e), at any time on or prior to the Existing Termination
Date of a Declining Lender, the Borrower and such Declining Lender may agree in writing (and without further certification or documentation
requirement other than as provided below) that such Declining Lender shall become a Revolving Lender with a Termination Date of
the Consenting Lenders in respect of the applicable extension as to which such Declining Lender declined to agree; provided that
the Borrower shall have provided written notice to the Agent of such agreement.”

 

2.04         Section 2.09(a)(i)
shall be amended by restating it as follows:

 

“(i)          
On the applicable Termination Date, the Borrower shall repay to the Agent for the ratable account of the applicable Revolving Lenders
the aggregate principal amount of all Revolving Advances then outstanding, together with accrued interest thereon to the date of
payment.”

 

2.05         The
concluding paragraph of Section 8.07(a)(i) shall be amended by (a) replacing the text “or” immediately
before subclause (d) thereof with the text “,” and (b) adding a new sub-clause (e) as follows:

 

“or (e) if the Lender
is a Consenting Lender in respect of the most recent extension pursuant to Section 2.05(e), a Lender that was and remains a Declining
Lender in respect of such extension.”

 

2.06         Form
of Assignment and Acceptance. Exhibit  D - Form of Assignment and Acceptance shall be amended by (a) adding a new
sentence at the end of the second paragraph thereof to read as follows: “[Effective as of the date hereof and pursuant to
Section 2.05(g) of the Credit Agreement, the Assignee hereby agrees to become a Revolving Lender with a Termination Date of a Consenting
Lender referred to in Section 2.05(g) of the Credit Agreement”], (b) adding a footnote at the end of such new sentence
to read as follows: “To be inserted if (i) the Assignor was a Declining Lender and (ii) the Assignee has agreed to become
a Consenting Lender pursuant to Section 2.05(g) of the Credit Agreement,” and (c) amending and restating the footnote
in the signature block of the Borrower to read in its entirety as follows: “To be added only if (i) the consent of the Borrower
is required by the terms of the Credit Agreement or (ii) the Assignor was a Declining Lender and has agreed to become a Consenting
Lender pursuant to Section  2.05(g) of the Credit Agreement.”

 

    	 	2	 

     

    

 

Section
3.          Extension of the Termination Date.

 

Pursuant to the terms
of the Amended Credit Agreement, each Extended Lender hereby (a) agrees to the Extension and (b) agrees that effective
as of the date hereof, the Termination Date with respect to its Revolving Commitment shall be August 3, 2022.

 

Section
4.          Representations and Warranties. The Borrower represents
and warrants to the Extended Lenders, the Issuing Banks and the Agent that (a) the representations and warranties contained in
Section 4.01 of the Amended Credit Agreement are correct in all respects on the Amendment Effective Date (as defined below) immediately
after giving effect to this Amendment (except for those representations and warranties that specifically relate to a prior date,
which shall have been correct on such prior date) and (d)  no Default or Event of Default has occurred and is continuing
on the Amendment Effective Date or would result from giving effect to this Amendment.

 

Section
5.          Conditions Precedent. This Amendment shall become
effective as of the first date (the “Amendment Effective Date”) on which the following conditions precedent
have been satisfied:

 

5.01         Counterparts.
The Agent shall have received one or more counterparts of this Amendment, executed and delivered by the Borrower, the Agent, the
Issuing Banks and the Extended Lenders constituting the Required Lenders.

 

5.02         Officer’s
Certificate. The Agent shall have received a certificate signed by the Vice President - Finance or the Treasurer of the Ultimate
General Partner (or an officer serving in either of such functions, in its capacity as general partner of the General Partner,
in its capacity as general partner of the Borrower), dated the Amendment Effective Date, as to the effect set forth in clauses (a)
and (b) of Section 4 of this Amendment.

 

5.03         Secretary’s
Certificate. The Agent shall have received a certificate of the secretary or an assistant secretary of the Ultimate General
Partner (a) certifying the names and true signatures of the officers of the Ultimate General Partner authorized to sign this
Amendment and the other documents to be delivered hereunder by the Ultimate General Partner in its capacity as general partner
of the General Partner, in its capacity as general partner of the Borrower, (b) certifying and attaching copies of the resolutions
of the board of directors or similar governing body of the Ultimate General Partner (in its capacity as general partner of the
General Partner, in its capacity as general partner of the Borrower) approving this Amendment and (c) certifying and attaching
all documents the Agent may have reasonably requested prior to the Amendment Effective Date relating
to the existence of the Borrower, the corporate authority for and the validity of this Amendment, and any other matters relevant
hereto.

 

    	 	3	 

     

    

 

5.04         Fees.
The Agent shall have received, for the account of each Extended Lender, fees in an amount agreed to be paid by the Borrower pursuant
to the letter addressed to the Agent and executed by the Borrower dated as of June 22, 2017, requesting the Extension and the amendments
set forth in this Amendment. The Agent shall have also received all fees and other amounts due and payable to it on or prior to
the Amendment Effective Date, including reimbursement or payment of all reasonable and invoiced out-of-pocket fees, charges and
expenses of a single counsel to the Agent in each appropriate jurisdiction (which may include a single special counsel acting in
multiple jurisdictions) and such other counsel retained with the Borrower’s prior written consent (such consent not to be
unreasonably withheld or delayed), required to be reimbursed or paid by the Borrower under the Amended Credit Agreement.

 

Section
6.          References Generally. References in the Credit Agreement
(including references to the Credit Agreement as amended hereby) to “this Agreement” (and indirect references such
as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be references
to the Amended Credit Agreement.

 

Section
7.          Miscellaneous. Except as herein provided, the Credit
Agreement shall remain unchanged and in full force and effect, and the Borrower (a) ratifies, confirms and reaffirms all provisions
of the Credit Agreement after giving effect to this Amendment, and (b) ratifies and confirms that, other than as expressly
set forth in this Amendment, no obligations of the Borrower under the Notes and the Credit Agreement are released, reduced, or
otherwise adversely affected by this Amendment. The execution and delivery of this Amendment shall not constitute a novation of
any indebtedness or other obligations owing to any Lender, any Issuing Bank or the Agent under the Credit Agreement based on facts
or events occurring or existing prior to the execution and delivery of this Amendment. This Amendment may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of
a signature page to this Amendment by facsimile or other electronic means (.pdf or .tif) shall be effective as delivery of a manually
executed counterpart of this Amendment. This Amendment shall be governed by, and construed in accordance with, the law of the
State of New York. Each of the parties hereto hereby irrevocably and unconditionally submits to the exclusive jurisdiction and
venue of the United States District Court for the Southern District of New York and of any New York State court sitting in New
York County, Borough of Manhattan, and any appellate court from any such federal or state court, for purposes of all suits, actions
or legal proceedings arising out of or relating to this Amendment and the Amended Credit Agreement or the transactions contemplated
hereby or thereby. Each of the parties hereto irrevocably waives, to the fullest extent permitted by law, any objection that it
may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such
proceeding brought in such a court has been brought in an inconvenient forum. EACH OF THE BORROWER AND THE LENDERS PARTY HERETO
HEREBY IRREVOCABLY WAIVES ALL RIGHT 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, THE AMENDED CREDIT AGREEMENT OR THE NOTES OR THE ACTIONS OF THE AGENT
OR ANY LENDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF. This Amendment constitutes the entire agreement
and understanding among the parties hereto and supersedes any and all prior agreements and understandings, oral or written, relating
to the subject matter hereof.

 

[Remainder of page intentionally left
blank; signature pages follow.]

 

    	 	4	 

     

    

 

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

 

	 	SPECTRA ENERGY PARTNERS, LP, as Borrower
	 	 	 	 
	 	By:	Spectra Energy Partners (DE) GP, LP,
	 	 	its general partner
	 	 	 	 
	 	 	By:	Spectra Energy Partners GP, LLC,
	 	 	 	its general partner
	 	 	 	 
	 	 	By:	/s/Wanda M. Opheim
	 	 	 	Name:  Wanda M. Opheim
	 	 	 	Title:  Treasurer
	 	 	 	 

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	EXTENDED LENDERS:
	 	 
	 	CITIBANK, N.A., as the Agent, an Issuing Bank and a Lender
	 	 
	 	By:	/s/ Maureen M. Maroney
	 	Name:	Maureen M. Maroney
	 	Title:	Vice President

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	JPMORGAN CHASE BANK, N.A., as a
	 	Lender
	 	 	 
	 	By:	/s/ Amit Gaur
	 	Name:	Amit Gaur
	 	Title:	Vice President

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	MIZUHO BANK, LTD., as an Issuing Bank and a Lender
	 	 
	 	By:	/s/ Rob MacKinnon
	 	Name:	Rob MacKinnon
	 	Title:	Managing Director, Canada Branch

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	BANK OF AMERICA, N.A., as a Lender
	 	 
	 	By:	/s/ James Campbell
	 	Name:	James Campbell
	 	Title:	Director

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as an Issuing Bank and a Lender
	 	 
	 	By:	/s/ Borden Tennant
	 	Name:	Borden Tennant
	 	Title:	Vice President

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	BARCLAYS BANK PLC, as a Lender
	 	 
	 	By:	/s/ Vanessa Kurbatskiy
	 	Name:	Vanessa Kurbatskiy
	 	Title:	Vice President

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	CREDIT SUISSE AG, CAYMAN ISLANDS
	 	BRANCH, as a Lender
	 	 
	 	By:	/s/ John D. Toronto
	 	Name:	John D. Toronto
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	/s/ Warren Van Heyst
	 	Name:	Warren Van Heyst
	 	Title:	Authorized Signatory

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

  

	 	DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender
	 	 
	 	By:	/s/ Ming K. Chu
	 	Name:	Ming K. Chu
	 	Title:	Director
	 	 	 
	 	By:	/s/ Virginia Cosenza
	 	Name:	Virginia Cosenza
	 	Title:	Vice President

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	ROYAL BANK OF CANADA, as a Lender
	 	 
	 	By:	/s/ Mike Gaudet
	 	Name:	Mike Gaudet
	 	Title:	Authorized Signatory

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	SUNTRUST BANK, as a Lender
	 	 	 
	 	By:	/s/ Chulley Bogle
	 	Name:	Chulley Bogle
	 	Title:	Vice President

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	THE BANK OF TOKYO-MITSUBISHI UFJ,
	 	LTD., as a Lender
	 	 	 
	 	By:	/s/ Kevin Sparks
	 	Name:	Kevin Sparks
	 	Title:	Director

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	KEYBANK NATIONAL ASSOCIATION,
	 	as a Lender
	 	 	 
	 	By:	/s/ Kevin D. Smith
	 	Name:	Kevin D. Smith
	 	Title:	Senior Vice President

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	SUMITOMO MITSUI BANKING 
	 	CORPORATION, as a Lender
	 	 	 
	 	By:	/s/ Katsuyuki Kubo
	 	Name:	Katsuyuki Kubo
	 	Title:	Managing Director

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	GOLDMAN SACHS BANK USA, as a Lender
	 	 	 
	 	By:	/s/ Josh Rosenthal
	 	Name:	Josh Rosenthal
	 	Title:	Authorized Signatory

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	BMO HARRIS BANK N.A., as a Lender
	 	 	 
	 	By:	/s/ Brian L. Banke
	 	Name:	Brian L. Banke
	 	Title:	Managing Director

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a Lender
	 	 	 
	 	By:	/s/ Robert Robin
	 	Name:	Robert Robin
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	/s/ Melissa Brown
	 	Name:	Melissa Brown
	 	Title:	Authorized Signatory

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	THE BANK OF NOVA SCOTIA, as a Lender
	 	 	 
	 	By:	/s/ Alfredo Brahim
	 	Name:	Alfredo Brahim
	 	Title:	Director

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	TORONTO DOMINION (NEW YORK) LLC, as a Lender
	 	 	 
	 	By:	/s/ Annie Dorval
	 	Name:	Annie Dorval
	 	Title:	Authorized Signatory

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

	 	EXPORT DEVELOPMENT CANADA, as a Lender
	 	 
	 	By:	/s/ Christopher Wilson
	 	Name:	Christopher Wilson
	 	Title:	Financing Manager
	 	 	 
	 	By:	/s/ Benson Mutalemwa
	 	Name:	Benson Mutalemwa
	 	Title:	Senior Associate

 

Signature Page to Amendment No. 4 to

Amended and Restated Credit Agreement and
Extension Agreement

(Spectra Energy Partners, LP)

 

     

     

    

 

ANNEX A

TO AMENDMENT NO. 4 TO AMENDED AND RESTATED
CREDIT AGREEMENT

AND EXTENSION AGREEMENT

 

[Section 2.05(e)]

 

(e)       Extension
of Termination Date. The Borrower may, by written notice to the Agent (which shall promptly deliver a copy to each of the
Lenders in the applicable Class) (i) not less than 45 days prior to any anniversary of the Effective Date, and
on not more than two occasions, request that the Revolving Lenders extend the Termination Date and the Revolving
Commitments for an additional periodinitial
extension period to August 3, 2022, and, thereafter, make unlimited requests for additional extension periods of
one year and (ii) not less than 45 days prior to any anniversary of the effective date of any applicable Incremental Term Loan
Agreement, make unlimited requests that the applicable Series of Incremental Term Lenders extend the Incremental Term Loan Termination
Date with respect to such Series for an additional period of one year. Each Lender in the applicable Class shall, by notice to
the Borrower and the Agent given not later than the 20th day after the date of the Agent’s
receipt of the Borrower’s extension request, advise the
Borrower whether or not it agrees to the requested extension (each such Lender in the applicable Class agreeing to a requested
extension being called a “Consenting Lender”
and each such Lender in the applicable Class declining to agree to a
requested extension being called a “Declining Lender”).
Any Lender in the applicable Class that has not so advised the Borrower and the Agent by such day shall be deemed to have declined
to agree to such extension and shall be a Declining Lender. If (i) Revolving Lenders constituting the Required Revolving Lenders
shall have agreed to an extension request, then the Termination Date shall, as to the Consenting Lenders in the applicable Class,
be extended to the first anniversary of the Termination Date theretofore in effectextension
date so agreed by such Consenting Lenders and (ii) Incremental Term Lenders constituting the Required Incremental
Term Lenders for such Series shall have agreed to an extension request, then the applicable Incremental Term Loan Termination
Date for such Series shall, as to the Consenting Lenders in the applicable Class, be extended to the first
anniversary of the applicable Incremental Term Loan Termination Date theretofore in effectextension
date so agreed by such Consenting Lenders. The decision to agree or withhold agreement to any Termination Date
extension or Incremental Term Loan Termination Date extension, as applicable, shall be at the sole discretion of each Lender in
the applicable Class. The Commitment and Advances of any Declining Lender in the applicable Class shall terminate and be payable
in full on the Termination Date or Incremental Term Loan Termination Date, as applicable, in effect as to such Lender prior to
giving effect to any such extension (such Termination Date being called the “Existing
Termination Date” and such Incremental Term Loan Termination
Date being called the “Existing Incremental Term Loan
Termination Date”). The principal amount of any outstanding
Revolving Advances made by Declining Lenders in the applicable Class, together with any accrued interest thereon and any accrued
fees and other amounts payable to or for the accounts of such Declining Lenders hereunder, shall be due and payable on the Existing
Termination Date, and on the Existing Termination Date the Borrower shall also make such other prepayments of its Revolving Borrowings
as shall be required in order that, after giving effect to the termination of the Revolving Commitments of, and all payments to,
such Declining Lenders pursuant to this sentence, the sum of the aggregate Revolving Advances and the aggregate Letter of Credit
Exposures shall not exceed the aggregate Revolving Commitments. If, after making the prepayments pursuant to the immediately preceding
sentence the sum of the aggregate Revolving Advances and the aggregate Letter of Credit Exposures exceed the aggregate Revolving
Commitments, then the Borrower shall immediately deposit cash collateral in an account with the Agent, in the name of the Agent
and for the benefit of the Revolving Lenders and the Issuing Banks (such deposit to be held by the Agent as collateral for the
payment and performance of the obligations of the Borrower under this Agreement in accordance with Section 2.03(h)(i)),
in an amount such that, after giving effect to such cash collateralization and the termination of the Revolving Commitments of,
and all payments to, the Declining Lenders in the applicable Class pursuant to the preceding sentence, the sum of the aggregate
Revolving Advances and the aggregate Letter of Credit Exposures not cash collateralized in accordance with this sentence shall
not exceed the aggregate Revolving Commitments. The principal amount of any outstanding Series of Incremental Term Loans made
by Declining Lenders in the applicable Class, together with any accrued interest thereon and any accrued fees and other amounts
payable to or for the accounts of such Declining Lenders hereunder, shall be due and payable on the Existing Incremental Term
Loan Termination Date. Notwithstanding the foregoing provisions of this Section 2.05(e), the Borrower shall have the right,
pursuant to Section 2.18(b), at any time prior to the Existing Termination Date or Existing Incremental Term Loan Termination
Date, as applicable, to replace a Declining Lender in the applicable Class with a Lender or other financial institution that will
agree to a request for the extension of the Termination Date or Incremental Term Loan Termination Date, as applicable, and any
such replacement Lender shall for all purposes constitute a Consenting Lender. Notwithstanding the foregoing, no extension of
the Termination Date or Incremental Term Loan Termination Date, as applicable, pursuant to this Section 2.05(e) shall become
effective unless (i) on the anniversary of the Effective Date or effective
date of the Incremental Term Loan Agreement, as applicable,such
extension date that immediately follows the date on which the Borrower delivers the applicable request for extension
of the Termination Date or Incremental Term Loan Termination Date, as applicable, the conditions set forth in clauses (a)
and (b) of Section 3.02 shall be satisfied (with all references in such clauses to a Borrowing being deemed to be
references to such extension and without giving effect to the first parenthetical in Section 3.02(a)) and the Agent shall
have received a certificate to that effect dated such date and executed by the Chief Financial
OfficerVice President - Finance
or the Treasurer of the Ultimate General Partner, or an officer
serving in either of those functions (in its capacity as general partner of the General Partner, in its capacity
as general partner of the Borrower).

 

    	 	- 1 -Exhibit 4.1

 

THIS WARRANT MAY NOT
BE ASSIGNED OR TRANSFERRED BY THE WARRANT HOLDER, EXCEPT WITH THE COMPANY’S PRIOR WRITTEN CONSENT IN LIMITED CIRCUMSTANCES
AS DESCRIBED HEREIN, AND IF SO REQUESTED BY THE COMPANY, THE DELIVERY BY THE WARRANT HOLDER TO THE COMPANY OF AN OPINION OF COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY STATING THAT SUCH TRANSFER OR ASSIGNMENT IS IN COMPLIANCE WITH THE SECURITIES
ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS.

 

GOPHER
PROTOCOL INC.

 

STOCK WARRANT AGREEMENT

 

__________________, 2017

 

	Warrant Holder:	 	 	 	No. of Shares:	 	 

 

GOPHER PROTOCOL INC.,
a Nevada corporation (the “Company), hereby grants to the person identified above as the Warrant Holder a Warrant (the “Warrant”)
to purchase the number of shares set forth above, representing one share of common stock for every share of common stock subject
to an existing warrant exercised by such Warrant Holder. This Warrant is granted in consideration of the exercise of such existing
warrant and on the following terms and conditions:

 

1.             Exercise
of Warrant. Upon the execution of this Warrant, the shares of stock shall fully vest. Exercise of the Warrant is subject to
the following:

 

		a.	Exercise Price. The exercise price (the “Exercise Price”) shall be $0.50 per
Share, which shall not be modified without written approval of the company and Warrant holder.

 

		b.	Expiration of Warrant Term. The Warrant will expire at 5:00 p.m. Eastern Standard Time on
_________________, 2022, and may not be exercised thereafter (the “Expiration Date”).

 

		c.	Payment. The purchase price for Shares as to which the Warrant is being exercised shall
be paid in cash, by wire transfer, by certified or Company cashier’s check, or by personal check drawn on funds on deposit
with the Company.

 

		d.	Method of Exercise. The Warrant shall be exercisable by a written notice delivered to the
President or Secretary of the Company which shall:

 

		i.	State the owner’s election to exercise the Warrant, the number of Shares with respect to
which it is being exercised, the person in whose name the stock certificate for such Shares is to be registered, and such person’s
address and tax identification number (or, if more than one, the names, addresses and tax identification numbers of such persons);

 

     

     

    

 

		ii.	Be signed by the person or persons entitled to exercise the Warrant and, if the Warrant is being
exercised by any person or persons other than the original holder thereof, be accompanied by proof satisfactory to counsel for
the Company of the right of such person or persons to exercise the Warrant; and

 

		iii.	Be accompanied by the originally executed copy of this Stock Warrant Agreement.

 

		e.	Partial Exercise. In the event of a partial exercise of the Warrant, the Company shall either
issue a new agreement for the balance of the Shares subject to this Stock Warrant Agreement after such partial exercise, or it
shall conspicuously note hereon the date and number of Shares purchased pursuant to such exercise and the number of Shares remaining
covered by this Stock Warrant Agreement.

 

		f.	Restrictions on Exercise. The Warrant may not be exercised (i) if the issuance of the Shares
upon such exercise would constitute a violation of any applicable federal or state securities or Companying laws or other law or
regulation or (ii) unless the Company, the Company, or the holder hereof, as applicable, obtains any approval or other clearance
which the Company and the Company determine to be necessary or advisable from the Federal Reserve Board, the Federal Deposit Insurance
Corporation or any other state or federal Companying regulatory agency with regulatory authority over the operation of Company
or the Company (collectively the “Regulatory Agencies”). The Company may require representations and warranties from
the Warrant Holder as required to comply with applicable laws or regulations, including the Securities Act of 1933 and state securities
laws.

 

2.             Anti-Dilution;
Merger. If, prior to the exercise of the Warrant, the Company (i) declares, makes or issues, or fixes a record date for the
determination of holders of common stock entitled to receive, a dividend or other distribution payable on the Shares in shares
of its capital stock, (ii) subdivides the outstanding Shares, (iii) combines the outstanding Shares (including a reverse stock
split), (iv) issues any shares of its capital stock by reclassification of the Shares, capital reorganization or otherwise (including
any such reclassification or reorganization in connection with a consolidation or merger or and sale of all or substantially all
of the Company’s assets to any person), then, not withstanding any such action the Exercise Price, and the number and kind
of shares receivable upon exercise, in effect at the time of the record date for such dividend or of the effective date of such
subdivision, combination or reclassification shall remain fixed so that the holder of this Warrant exercised after such time shall
be entitled to receive the number and kind of shares which, if Warrant had been exercised immediately prior to such time, he would
have owned upon such exercise and been entitled to receive.

 

3.             Valid
Issuance of Common Stock. The Company possesses the full authority and legal right to issue, sell, transfer, and assign this
Warrant and the Shares issuable pursuant to this Warrant. The issuance of this Warrant vests in the holder the entire legal and
beneficial interests in this Warrant, free and clear of any liens, claims, and encumbrances and subject to no legal or equitable
restrictions of any kind except as described herein. The Shares that are issuable upon exercise of this Warrant, when issued,
sold and delivered in accordance with the terms of this Agreement for the consideration expressed herein, will be duly and validly
issued, fully paid, and non-assessable, and will be free of restrictions on transfer other than restrictions under applicable
state and federal securities.

 

     

     

    

 

4.             Compliance
with Securities Laws. This Agreement and the Warrant represented hereby were issued in reliance on an exemption from registration
under the Securities Act of 1933 (the “Act”) pursuant to Section 4(2) thereof, and other applicable exemptions under
state securities laws. The Company’s reliance on such exemption is predicated in part on the Warrant Holder’s representations
set forth herein. Warrant Holder understands that the Warrant and the Shares issuable upon exercise of the Warrant may not be sold,
transferred or otherwise disposed of without registration under the Securities Act of 1933, or an exemption therefrom, and that
in the absence of an effective registration statement covering such shares or an available exemption from registration under the
Securities Act, such Shares must be held indefinitely.

 

5.             Restrictions
on Transferability. This Agreement and the Warrant may not be assigned, transferred (except as provided above), pledged, or
hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment, or similar
process. Any attempted assignment, transfer, pledge, hypothecation, or other disposition of this Warrant contrary to the provisions
hereof shall be without legal effect. The Shares issuable on exercise of the Warrant may not be assigned or transferred by the
Warrant Holder without the Company’s prior written consent and, if so requested by the Company, the delivery by the Warrant
Holder to the Company of an opinion of counsel in form and substance satisfactory to the Company stating that such transfer or
assignment is in compliance with the Securities Act of 1933 and applicable state securities laws.

 

6.             Restrictive
Legend. Each certificate for Shares issued upon exercise of the Warrant shall bear a legend stating that they have not been
registered under the Securities Act of 1933 or any state securities laws and referring to the restrictions on transferability and
sale herein.

 

7.             Mandatory
Exercise; Termination.

 

		a.	The Company may be required to increase its capital to meet capital requirements imposed by statute,
rule, regulation, or guideline. In order to achieve such capital increase, the Regulatory Agencies may direct the Company or the
Company to require the Warrant Holders to either (i) exercise all or part of their Warrants or (ii) allow the Warrants to be terminated.
If the Regulatory Agencies so direct the Company or the Company, then the Warrant Holder must exercise or forfeit this Warrant
as set forth below.

 

		b.	When the Company is required to increase its capital as described in subsection (a) above, the
Company shall send a notice (the ‘‘Notice”) to the Warrant Holder (i) specifying the number of Shares relating
to the Warrant for which the Warrant must be exercised (the ‘‘Number”) (if less than all shares relating to Warrant
held by all holders of Warrant of the Company under agreements substantially similar to this one are required by the Company to
be exercised or cancelled, the Number for the Warrant Holder shall reflect a proportionate allocation based on the number of Shares
subject to this Agreement as compared to the total number of shares subject to Warrant held by all such warrant holders as a group);
(ii) specifying the date prior to which the Warrant must be totally or partially exercised, as the case may be (the “Deadline”);
(iii) specifying the Exercise Price for the Shares to be purchased pursuant to the Warrant (such Exercise Price not to be less
than current book value per share); and (iv) stating that the failure of the Warrant holder to exercise the Warrant shall result
in its automatic termination.

 

     

     

    

 

		c.	If the Warrant Holder does not exercise the Warrant pursuant to the terms of the Notice, this Agreement
shall be automatically terminated on the Deadline, without further act or action by the Warrant Holder or the Company, and the
Warrant Holder shall deliver this Agreement to the Company for cancellation. If the Number is less than the total number of Shares
that are then subject to exercise under this Agreement, the Company shall issue a new Stock Warrant Agreement in compliance with
Section l(e) hereof.

 

8.             Covenants
of the Company. During the term of the Warrant, the Company shall:

 

		a.	at all times authorize, reserve and keep available, solely for issuance upon exercise of this Warrant,
sufficient shares of common stock from time to time issuable upon exercise of this Warrant;

 

		b.	on receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of loss, theft, or destruction, on delivery of any indemnity agreement or bond reasonably
satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, at
its expense execute and deliver, in lieu of this Warrant, a new Warrant of like tenor; and

 

		c.	on surrender for exchange of this Warrant or any Warrant substituted therefor pursuant hereto,
properly endorsed, to the Company, at its expense, issue and deliver to or on the order of the holder thereof a new Warrant of
like tenor, in the name of such holder or as such holder (on payment by such holder of any applicable transfer taxes) may direct,
calling in the aggregate on the face or faces thereof for the issuances of the number of shares of common stock issuable pursuant
to the terms of the Warrant so surrendered.

 

9.             No
Dilution or Impairment. The Company shall not amend its Articles of Incorporation or participate in any reorganization, transfer
of assets, consolidation, merger, dissolution, issuance or sale of securities or any other voluntary action for the purpose of
avoiding or seeking to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company,
but will at all times in good faith assist in carrying out all such action as may be reasonably necessary in order to protect the
exercise rights of the holder against improper dilution or other impairment.

 

10.           Amendment.
Neither this Agreement nor the rights granted hereunder may be amended, changed or waived except in writing signed by each party
hereto.

 

IN WITNESS WHEREOF,
the Company has executed and the holder has accepted this Stock Warrant Agreement as of the date and year first above written.

 

     

     

    

  

	 	GOPHER PROTOCOL INC.
	 	 	 	 
	 	By:	 	 
	 	 	 	President
	 	 	 	 
	 	Attest:	 	 
	 	 	 	Secretary

 

(CORPORATE SEAL)

 

	 	WARRANT HOLDER:
	 	 	 	 
	 	By:	 	 
	 	 	 	Signature
	 	 	 	 
	 	 	 	GUARDIAN PATCH LLC.
	 	 	 	Print Name

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