Document:

exhibit102firstamendment

                FIRST AMENDMENT TO    COLLATERAL TRUST AND INTERCREDITOR AGREEMENT   FIRST AMENDMENT TO COLLATERAL TRUST AND INTERCREDITOR   AGREEMENT, dated as of November 13, 2015 (this “Amendment”), among TALEN ENERGY   SUPPLY, LLC (f/k/a PPL Energy Supply, LLC), a Delaware limited liability company (the “Borrower”),   the Subsidiary Guarantors (as defined in the Intercreditor Agreement (as defined below)) identified on the   signature pages to this Amendment, the other Persons from time to time party thereto, CITIBANK, N.A.,   as Administrative Agent (in such capacity, the “Administrative Agent”) and CITIBANK, N.A., as   Collateral Trustee (in such capacity, the “Collateral Trustee”).   W I T N E S S E T H:   WHEREAS, the Borrower, the Subsidiary Guarantors from time to time party thereto, the   other Persons from time to time party thereto, the Administrative Agent and the Collateral Agent have   entered into the Collateral Trust and Intercreditor Agreement, dated as of June 1, 2015 (as amended,   restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”);    WHEREAS, the Borrower and the Administrative Agent are parties to the Credit   Agreement, dated as of June 1, 2015, among the Borrower, the Lenders (as defined therein) from time to   time parties thereto and the Administrative Agent (as amended, restated, supplemented or otherwise   modified from time to time, the “Credit Agreement”; capitalized terms used in this Amendment but not   otherwise defined in this Amendment shall have the same meanings assigned thereto in the Intercreditor   Agreement and/or the Credit Agreement, as applicable);   WHEREAS, in accordance with Section 9.3(c) of the Intercreditor Agreement, the Credit   Parties and the Collateral Trustee desire to amend the Intercreditor Agreement to cure a defect as set forth   below; and   WHEREAS, in accordance with Section 13.10(e) of the Credit Agreement, the Borrower   and the Administrative Agent desire to amend the Intercreditor Agreement to cure a defect as set forth   below.   NOW, THEREFORE, in consideration of the foregoing and for other good and valuable   consideration, the receipt and sufficiency of all of which is hereby acknowledged, the parties hereto   hereby agree as follows:   SECTION 1 Amendments to Intercreditor Agreement.  Upon the satisfaction of the   condition precedent set forth in Section 2 of this Amendment:    (a) Section 5.2(b)(i) of the Intercreditor Agreement is hereby amended to delete the   phrase “under a Secured Commodity Hedge” appearing in the third line thereof.    (b)  Section 5.2(b)(i)(B) of the Intercreditor Agreement is hereby amended to delete   the word “Required” appearing therein.   SECTION 2 Conditions of Effectiveness of this Amendment.  This Amendment shall   become effective without any further action or consent of any other Person upon the satisfaction or waiver     

 

2                   of the following conditions precedent in accordance with the terms of Section 9.3(c) of the Intercreditor   Agreement and, as applicable, Section 13.10(e) of the Credit Agreement:   (a) the Collateral Trustee shall have received duly executed counterparts to this   Amendment from each party hereto; and   (b)  the Collateral Trustee and the Administrative Agent shall have received an   officer’s certificate executed by an officer of the Borrower in form and substance reasonably   acceptable to each of the Collateral Trustee and the Administrative Agent.   SECTION 3 Reference to and Effect on the Intercreditor Agreement .   (a) On and after the date hereof, each reference in the Intercreditor Agreement to   “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Intercreditor   Agreement shall mean and be a reference to the Intercreditor Agreement, as amended by this   Amendment, and each reference to the Intercreditor Agreement in the Credit Agreement and the   other Credit Documents (as defined in the Credit Agreement) shall mean the Intercreditor   Agreement, as amended by this Amendment.   (b) The Intercreditor Agreement is and shall continue to be in full force and effect   and is hereby in all respects ratified and confirmed.     (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 any party to the   Intercreditor Agreement.  On and after the effectiveness of this Amendment, this Amendment   shall for all purposes constitute a Credit Document under and as defined in the Credit Agreement.   SECTION 4 Indemnification; Costs and Expenses.  Each Credit Party hereby, jointly   and severally, agrees to indemnify and reimburse each of the Administrative Agent and Collateral Trustee   for its reasonable and documented out-of-pocket expenses, in each case, in connection with this   Amendment, including the reasonable fees, charges and disbursements of one counsel for each of the   Administrative Agent and the Collateral Trustee, all in accordance with the terms and conditions of   Section 13.01 of the Credit Agreement.   SECTION 5 Execution in Counterparts.  This Amendment may be executed in one or   more counterparts, each of which shall be deemed an original, but all of which together shall constitute   one and the same instrument.  Delivery by facsimile or electronic transmission of an executed counterpart   of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of   this Amendment.   SECTION 6 Governing Law.  Section 9.6(a) of the Intercreditor Agreement is   incorporated herein by reference mutatis mutandis.   SECTION 7 Headings.  Section headings herein are included for convenience of   reference only and shall not affect the interpretation of this Amendment.   SECTION 8 Acknowledgement and Affirmation.  Each Credit Party hereby expressly   acknowledges, (i) all of its obligations under the Security Documents and the other Credit Documents to   which it is a party are reaffirmed and remain in full force and effect on a continuous basis, (ii) its grant of     

 

3                   security interests pursuant to the Security Documents are reaffirmed and remain in full force and effect   after giving effect to this Amendment and (iii) except as expressly set forth herein, the execution of this   Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or   Lenders, constitute a waiver of any provision of any of the Credit Documents or serve to effect a novation   of the Obligations.   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]     

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed   by their respective officers thereunto duly authorized, as of the date first above written.      BORROWER:      TALEN ENERGY SUPPLY, LLC   (f/k/a PPL Energy Supply, LLC)          By:  /s/ Russell R. Clelland      Name:  Russell R. Clelland   Title:  Vice President and Treasurer    

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      SUBSIDIARY GUARANTORS:      BARNEY M. DAVIS, LP         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      BRANDON SHORES LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      C/R TOPAZ HOLDINGS, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      FORT ARMISTEAD ROAD - LOT 15   LANDFILL, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      H.A. WAGNER LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      JADE POWER GENERATION HOLDINGS LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      LAREDO WLE, LP         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer     

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      LOWER MOUNT BETHEL ENERGY, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      NUECES BAY WLE, LP         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      PENNSYLVANIA MINES, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      BRUNNER ISLAND, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      TALEN ENERGY MARKETING, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      TALEN GENERATION, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      TALEN INVESTMENT CORPORATION         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer              

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      MARTINS CREEK, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      MONTOUR, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      SUSQUEHANNA NUCLEAR, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RAVEN FS PROPERTY HOLDINGS LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RAVEN LOT 15 LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RAVEN POWER FINANCE LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RAVEN POWER FORT SMALLWOOD LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer           

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      RAVEN POWER GENERATION HOLDINGS   LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RAVEN POWER MARKETING LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RAVEN POWER OPERATING LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RJS POWER HOLDINGS LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      RJS POWER LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      TOPAZ POWER GROUP GP II, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer      TOPAZ POWER GROUP LP II, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer        

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      TOPAZ POWER HOLDINGS, LLC         By:  /s/ Russell R. Clelland      Name: Russell R. Clelland   Title: Vice President and Treasurer     

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      COLLATERAL TRUSTEE:      CITIBANK, N.A.         By:  /s/ Kirkwood Roland      Name: Kirkwood Roland   Title:   Managing Director and Vice President    

 

   Signature Page to   First Amendment to Collateral Trust and Intercreditor Agreement      ADMINISTRATIVE AGENT:      CITIBANK, N.A.          By:  /s/ Kirkwood Roland      Name: Kirkwood Roland   Title:   Managing Director and Vice Presidentexhibit103icaaccessionag

  Execution Version    1   ACCESSION AGREEMENT — First-Lien Secured Parties   THIS ACCESSION AGREEMENT (this “Agreement”), dated as of December 15, 2015,   is entered into by WILMINGTON TRUST, NATIONAL ASSOCIATION (the “Joining Party”)   and acknowledged by TALEN ENERGY SUPPLY, LLC, a Delaware limited liability company   (the “Borrower”), and each Credit Party, and CITIBANK, N.A., in its capacity as Collateral   Trustee under the Intercreditor Agreement (as defined below).   Reference is made to that certain Collateral Trust and Intercreditor Agreement, dated as   of June 1, 2015, as amended as of November 12, 2015 (as further amended, modified, restated,   or supplemented from time to time, the “Intercreditor Agreement”), by and among the   Borrower, the Subsidiary Guarantors, the Collateral Trustee, the Administrative Agent, the Other   Administrative Agent, the L/C Issuer, and each of the other Persons party thereto from time to   time in accordance with the terms thereof.  Capitalized terms used herein without definition shall   have the meaning assigned thereto in the Intercreditor Agreement.  This Accession Agreement is   being executed and delivered pursuant to Section 5.6(a) of the Collateral Trust Agreement.   The Joining Party, as agent under the Secured Energy Marketing and Trading Facility   Amended and Restated Common Agreement, dated as of December 15, 2015, among Talen   Energy Marketing, LLC; the Borrower, as the Guarantor; Brunner Island, LLC; Montour, LLC;   the Joining Party, as Agent; and the Secured Counterparties as set forth therein (the “Amended   and Restated Common Agreement”), hereby becomes a Secured Debt Representative under the   Intercreditor Agreement.   Each of the Borrower and the Joining Party hereby agree for the benefit of the First-Lien   Secured Parties as follows:   (1) The Joining Party hereby acknowledges, agrees, and confirms that, by its   execution of this Agreement, the Joining Party will be deemed to be a party to the   Intercreditor Agreement and, from and after the date hereof, shall have all of the   obligations of a Secured Debt Representative thereunder as if it had executed the   Intercreditor Agreement.  The Joining Party hereby ratifies, as of the date hereof, and   agrees to be bound by all of the terms, provisions, and conditions applicable to the   Secured Debt Representative contained in the Intercreditor Agreement.  The first-lien   obligations to be secured under the Amended and Restated Common Agreement are   hereby designated “Obligations” and will be secured equally and ratably with all existing   and future Obligations permitted by the Financing Documents.   (2) The Joining Party acknowledges that it has the authority to bind First-Lien   Secured Parties for which it is acting as a Secured Debt Representative to the   Intercreditor Agreement and such First-Lien Secured Parties are hereby bound by the   terms and conditions of the Intercreditor Agreement.   (3) The Joining Party hereby agrees (on behalf of itself and any First-Lien Secured   Party claiming through it) to comply with the terms of the Intercreditor Agreement.   (4) Each of the undersigned Credit Parties hereby consents to the designation of the   Amended and Restated Common Agreement as Obligations as set forth herein and hereby     

 

   Signature Page to the Accession Agreement   confirms its respective guarantees, pledges, grants of security interests, and other   obligations, as applicable, under and subject to the terms of each of the Financing   Documents to which it is party and agrees that, notwithstanding the designation of such   additional indebtedness or any of the transactions contemplated thereby, such guarantees,   pledges, grants of security interests and other obligations, and the terms of each   Financing Document to which it is a party are not impaired or adversely affected in any   manner whatsoever and shall continue to be in full force and effect and such additional   secured debt shall be entitled to all of the benefits of such Financing Documents.   (5) The address of the Joining Party for purposes of all notices and other   communications under the Intercreditor Agreement is:    Wilmington Trust, National Association    1100 North Market Street   Wilmington, Delaware 19890-0001   Attention: Alisha Clendaniel   Telephone: 302-636-6505   Facsimile: 302-636-4140   Email: aclendaniel@wilmingtontrust.com and loanagency@wilmingtontrust.com   (6) This Agreement may be executed in two or more counterparts, each of which   shall constitute an original but all of which when taken together shall constitute one   contract.   (7) The provisions of Section 9.6 of the Intercreditor Agreement will apply with like   effect to this Accession Agreement.   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]     

 

   Signature Page to the Accession Agreement   IN WITNESS WHEREOF, each of the Joining Party, each Credit Party, and the   Collateral Trustee has caused this Accession Agreement to be duly executed by its respective   authorized representative, as of the day and year first above written.   WILMINGTON TRUST, NATIONAL   ASSOCIATION   By:  /s/ Renee Kuhl                                       Name:  Renee Kuhl   Title:  Vice President         

 

   Signature Page to the Accession Agreement   IN WITNESS WHEREOF, each of the Joining Party, each Credit Party, and the   Collateral Trustee has caused this Accession Agreement to be duly executed by its respective   authorized representative, as of the day and year first above written.   CREDIT PARTIES:   BARNEY M. DAVIS, LP   By:  /s/ Russell R. Clelland                                            Name:  Russell R. Clelland   Title:  Vice President and Treasurer      BRANDON SHORES LLC   By:  /s/ Russell R. Clelland                                        Name:  Russell R. Clelland   Title:  Vice President and Treasurer      C/R TOPAZ HOLDINGS, LLC   By:  /s/ Russell R. Clelland                                            Name:  Russell R. Clelland   Title:  Vice President and Treasurer      FORT ARMISTEAD ROAD - LOT 15   LANDFILL, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      H.A. WAGNER LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      JADE POWER GENERATION HOLDINGS LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer            

 

   Signature Page to the Accession Agreement   LAREDO WLE, LP   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      LOWER MOUNT BETHEL ENERGY, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      NUECES BAY WLE, LP   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      PENNSYLVANIA MINES, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      BRUNNER ISLAND, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      TALEN ENERGY MARKETING, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      TALEN GENERATION, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer            

 

   Signature Page to the Accession Agreement   TALEN INVESTMENT CORPORATION   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      MARTINS CREEK, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      MONTOUR, LLC   By: /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      SUSQUEHANNA NUCLEAR, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      RAVEN FS PROPERTY HOLDINGS LLC   By: /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      RAVEN LOT 15 LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      RAVEN POWER FINANCE LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer            

 

   Signature Page to the Accession Agreement   RAVEN POWER FORT SMALLWOOD LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      RAVEN POWER GENERATION HOLDINGS   LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      RAVEN POWER MARKETING LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      RAVEN POWER OPERATING LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      TOPAZ POWER GROUP GP II, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      TOPAZ POWER GROUP LP II, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer      TOPAZ POWER HOLDINGS, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer            

 

   Signature Page to the Accession Agreement   IN WITNESS WHEREOF, each of the Joining Party, each Credit Party, and the   Collateral Trustee has caused this Accession Agreement to be duly executed by its respective   authorized representative, as of the day and year first above written.   Acknowledged and in its capacity as a Credit   Party:   TALEN ENERGY SUPPLY, LLC   By:  /s/ Russell R. Clelland    Name:  Russell R. Clelland   Title:  Vice President and Treasurer               

 

   Signature Page to the Accession Agreement   IN WITNESS WHEREOF, each of the Joining Party, each Credit Party, and the   Collateral Trustee has caused this Accession Agreement to be duly executed by its respective   authorized representative, as of the day and year first above written.   Acknowledged:   CITIBANK, N.A., as Collateral Trustee   By:  /s/ Kirkwood Roland                                            Name:  Kirkwood Roland   Title:  Managing Director and Vice President

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