Document:

EX-10.1

 Exhibit 10.1 

TARGA RESOURCES CORP. 

INDEMNIFICATION AGREEMENT 

THIS AGREEMENT (the “Agreement”) is effective February 22 2017, between Targa Resources Corp., a Delaware corporation (the
“Corporation”), and the undersigned individual who serves as a director or officer of the Corporation (“Indemnitee”). 

WHEREAS, the Corporation has adopted Bylaws (as the same may be amended from time to time, the “Bylaws”) providing for
indemnification of the Corporation’s directors and officers to the maximum extent authorized by the Delaware General Corporation Law (the “DGCL”); and 

WHEREAS, in recognition of Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s
continued service to the Corporation in an effective manner, the Corporation wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent permitted by law (whether partial or
complete) and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued coverage of Indemnitee under the Corporation’s directors’ and officers’ liability insurance policies; 

WHEREAS, Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Corporation on condition
that the Indemnitee be so indemnified; 
 NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the
Corporation and Indemnitee do hereby covenant and agree as follows: 
 1.    Definitions. As used in this
Agreement: 
 (a)    The term “Proceeding” shall include any threatened, pending or completed action,
suit, inquiry or proceeding, whether brought by or in the right of the Corporation or any predecessor, subsidiary or affiliated company or otherwise and whether of a civil, criminal, administrative, arbitrative or investigative nature, in which
Indemnitee is or will be involved as a party, as a witness or otherwise, by reason of the fact that Indemnitee is or was a director or officer of the Corporation, by reason of any action taken by him or of any inaction on his part while acting as a
director or officer or by reason of the fact that he is or was serving at the request of the Corporation as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust, limited liability company or other
enterprise; in each case whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification or reimbursement can be provided under this Agreement; provided that any such action,
suit or proceeding which is brought by Indemnitee against the Corporation or any predecessor, subsidiary or affiliated company or directors or officers of the Corporation or any predecessor, subsidiary or affiliated company, other than an action
brought by Indemnitee to enforce his rights under this Agreement, shall not be deemed a Proceeding without prior approval by a majority of the Board of Directors of the Corporation. 

 (b)    The term “Expenses” shall include, without limitation, any
judgments, fines and penalties against Indemnitee in connection with a Proceeding; amounts paid by Indemnitee in settlement of a Proceeding; and all attorneys’ fees and disbursements, accountants’ fees, private investigation fees and
disbursements, retainers, court costs, transcript costs, fees of experts, fees and expenses of witnesses, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements,
or expenses, reasonably incurred by or for Indemnitee in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in a Proceeding or establishing Indemnitee’s right of
entitlement to indemnification for any of the foregoing. 
 (c)    References to Indemnitee’s being or acting as
“a director or officer of the Corporation” or “serving at the request of the Corporation as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust, limited liability company or other
enterprise” shall include in each case service to or actions taken while a director, officer, trustee, employee or agent of any predecessor, subsidiary or affiliated company of the Corporation. 

(d)    References to “other enterprise” shall include employee benefit plans; references to “fines”
shall include any excise tax assessed with respect to any employee benefit plan; references to “serving at the request of the Corporation” shall include any service as a director, officer, employee or agent of the Corporation which imposes
duties on, or involves services by, such director, officer, trustee, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in
the interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interest of the Corporation” as referred to in this Agreement. 

(e)    The term “substantiating documentation” shall mean copies of bills or invoices for costs incurred by or
for Indemnitee, or copies of court or agency orders or decrees or settlement agreements, as the case may be, accompanied by a statement from Indemnitee that such bills, invoices, court or agency orders or decrees or settlement agreements, represent
costs or liabilities meeting the definition of “Expenses” herein. 
 (f)    The terms “he” and
“his” have been used for convenience and mean “she” and “her” if Indemnitee is a female. 

2.    Indemnity of Director or Officer. The Corporation hereby agrees (subject to the provisions of Section 5
below) to hold harmless and indemnify Indemnitee against Expenses to the fullest extent authorized or permitted by law (including the applicable provisions of the DGCL). The phrase “to the fullest extent permitted by law” shall include,
but not be limited to (a) to the fullest extent permitted by any provision of the DGCL that authorizes or permits additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL and
(b) to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors. Any amendment,
alteration or repeal of the DGCL that adversely affects any right of Indemnitee shall be prospective only and shall not limit or eliminate any such right with respect to any Proceeding involving any occurrence or alleged occurrence of any action or
omission to act that took place prior to such amendment or repeal. 

  
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 3.    Additional Indemnity. The Corporation hereby further agrees
(subject to the provisions of Section 5 below) to hold harmless and indemnify Indemnitee against Expenses incurred by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Corporation, or is or was serving
at the request of the Corporation as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust, limited liability company or other enterprise, including, without limitation, any predecessor, subsidiary
or affiliated entity of the Corporation, but only if Indemnitee acted in good faith and, in the case of conduct in his official capacity, in a manner he reasonably believed to be in the best interests of the Corporation and, in all other cases, not
opposed to the best interests of the Corporation. Additionally, in the case of a criminal proceeding, Indemnitee must have had no reasonable cause to believe that his conduct was unlawful. The termination of any Proceeding by judgment, order of the
court, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best
interest of the Corporation, and with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful. 

4.    Contribution. If the indemnification provided under Section 2 is unavailable by reason of a court
decision, based on grounds other than any of those set forth in Section 5 below, then, in respect of any Proceeding in which the Corporation is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Corporation shall
contribute to the amount of Expenses actually and reasonably incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Corporation on one hand and Indemnitee on the
other from the transaction from which such Proceeding arose and (ii) the relative fault of the Corporation on the one hand and of Indemnitee on the other in connection with the events that resulted in such Expenses as well as any other relevant
equitable considerations. The relative fault of the Corporation on the one hand and of Indemnitee on the other shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent the circumstances resulting in such Expenses. The Corporation agrees that it would not be just and equitable if contribution pursuant to this Section 4 were determined by pro rata allocation or any other method
of allocation that does not take into account of the foregoing equitable considerations. 
 5.    Exceptions. Any
other provision herein to the contrary notwithstanding, the Corporation shall not be obligated pursuant to the terms of this Agreement: 

(a)    Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to proceedings
or claims initiated or brought voluntarily by Indemnitee and not by way of defense, except with respect to proceedings brought to establish or enforce a right to indemnification under this Agreement; 

(b)    Insured Claims. To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but
not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) to the extent such expenses or liabilities have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and
directors’ liability insurance; 

  
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 (c)    Claims Under Section 16(b). To indemnify Indemnitee for
expenses or the payment of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute; 

(d)    Unlawful Claims. To indemnify Indemnitee to the extent such indemnification is prohibited by applicable law;
or 
 (e)    Unauthorized Settlement. To indemnify Indemnitee with regard to any judicial award if the
Corporation was not given a reasonable and timely opportunity, to participate in the defense of such action or to indemnify Indemnitee for any amounts paid in settlement of any Proceeding effected without the Corporation’s prior written
consent. 
 6.    Choice of Counsel. If Indemnitee is not an officer of the Corporation, he, together with the
other directors who are not officers of the Corporation and are seeking indemnification (the “Outside Directors”), shall be entitled to employ, and be reimbursed for the fees and disbursements of, a single counsel separate from that chosen
by Indemnitees who are officers of the Corporation. The principal counsel for Outside Directors (“Principal Counsel”) shall be determined by majority vote of the Outside Directors who are seeking indemnification, and the Principal Counsel
for the Indemnitees who are not Outside Directors (“Separate Counsel”) shall be determined by majority vote of such Indemnitees, in each case subject to the consent of the Corporation (not to be unreasonably withheld or delayed). The
obligation of the Corporation to reimburse Indemnitee for the fees and disbursements of counsel hereunder shall not extend to the fees and disbursements of any counsel employed by Indemnitee other than Principal Counsel or Separate Counsel, as the
case may be, unless Indemnitee has interests that are different from those of the other Indemnitees or defenses available to him that are in addition to or different from those of the other Indemnitees such that Principal Counsel or Separate
Counsel, as the case may be, would have an actual or potential conflict of interest in representing Indemnitee. 

7.    Advances of Expenses. 

(a)    Expenses (other than judgments, penalties, fines and settlements) incurred by Indemnitee shall be paid by the
Corporation, in advance of the final disposition of the Proceeding, within three business days after receipt of Indemnitee’s written request accompanied by substantiating documentation and Indemnitee’s written affirmation as described in
subsection (c) below. No objections based on or involving the question whether such charges meet the definition of “Expenses,” including any question regarding the reasonableness of such Expenses, shall be grounds for failure to
advance to such Indemnitee, or to reimburse such Indemnitee for, the amount claimed within such three business day period, and the undertaking of Indemnitee set forth in this Section 7 to repay any such amount to the extent it is ultimately
determined that Indemnitee is not entitled to indemnification shall be deemed to include an undertaking to repay any such amounts determined not to have met such definition. 

  
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 (b)    Indemnitee hereby undertakes to repay to the Corporation (i) any
advances or payment of Expenses made pursuant to this Section 7 and (ii) any judgments, penalties, fines and settlements paid to or on behalf of Indemnitee hereunder, in each case to the extent that it is ultimately determined in a final
judgment or other final adjudication of a court of competent jurisdiction that Indemnitee is not entitled to indemnification. 

(c)    As a condition to the advancement of such Expenses or the payment of such judgments, penalties, fines and
settlements, Indemnitee shall execute an acknowledgment wherein Indemnitee (i) affirms that Indemnitee has met the standard of conduct for indemnification and (ii) affirms that such Expenses or such judgments, penalties, fines and
settlements, as the case may be, are delivered pursuant and are subject to the provisions of this Agreement. 

8.    Right of Indemnitee to Indemnification Upon Application; Procedure Upon Application. Any indemnification
claim under this Agreement, other than pursuant to Section 7 hereof, shall be made no later than 30 days after receipt by the Corporation of the written request of Indemnitee, accompanied by substantiating documentation, unless a determination
is made within said 30-day period that Indemnitee has not met the relevant standards for indemnification set forth in Section 3 hereof by (a) the Board of Directors by a majority vote of a quorum consisting of directors who are not or were
not parties to such Proceeding, (b) a committee of the Board of Directors designated by majority vote of the Board of Directors, even though less than a quorum, (c) if there are no such directors, or if such directors so direct,
independent legal counsel in a written opinion or (d) the stockholders. 
 The right to indemnification or advances as provided by this
Agreement shall be enforceable by Indemnitee in any court of competent jurisdiction. The burden of proving that indemnification is not appropriate shall be on the Corporation. Neither the failure of the Corporation (including its Board of Directors,
any committee thereof, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such action that indemnification is proper in the circumstances because Indemnitee has met the applicable standards of
conduct, nor an actual determination by the Corporation (including its Board of Directors, any committee thereof, independent legal counsel or its stockholders) that Indemnitee has not met such applicable standard of conduct, shall be a defense to
the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

9.    Indemnification Hereunder Not Exclusive. The indemnification and advancement of expenses provided by this
Agreement shall not be deemed exclusive of any other rights to which Indemnitee may be entitled under the Corporation’s charter or certificate of incorporation (as the same may be amended from time to time), the Bylaws, the DGCL, any directors
and officers insurance maintained by or on behalf of the Corporation, any agreement, or otherwise, both as to action in his official capacity and as to action in another capacity while holding such office; provided, however, that this Agreement
supersedes all prior written indemnification agreements between the Corporation (or any predecessor thereof) and Indemnitee with respect to the subject matter hereof. However, Indemnitee shall reimburse the Corporation for amounts paid to Indemnitee
pursuant to such other rights to the extent such payments duplicate any payments received pursuant to this Agreement. 

  
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 10.    Continuation of Indemnity. All agreements and obligations of
the Corporation contained herein shall continue during the period Indemnitee is a director or officer of the Corporation (or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust, limited liability company or other enterprise) and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (notwithstanding the fact that Indemnitee has ceased to serve the
Corporation). 
 11.    Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement
to indemnification by the Corporation for a portion of Expenses, but not, however, for the total amount thereof, the Corporation shall nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled. 

12.    Acknowledgements. The Corporation expressly confirms and agrees that it has entered into this Agreement and
assumed the obligations imposed on the Corporation hereby in order to induce Indemnitee to serve or to continue to serve as a director or officer of the Corporation, and acknowledges that Indemnitee is relying upon this Agreement in agreeing to
serve or in continuing to serve as a director or officer of the Corporation. 
 13.    Enforcement. In the event
Indemnitee is required to bring any action or other proceeding to enforce rights or to collect moneys due under this Agreement and is successful in such action, the Corporation shall reimburse Indemnitee for all of Indemnitee’s expenses in
bringing and pursuing such action. 
 14.    Severability. If any provision of this Agreement shall be held to be
invalid, illegal or unenforceable (a) the validity, legality and enforceability of the remaining provisions of this Agreement shall not be in any way affected or impaired thereby, and (b) to the fullest extent possible, the provisions of
this Agreement shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable. Each section of this Agreement is a separate and independent portion of this Agreement. If the indemnification
to which Indemnitee is entitled with respect to any aspect of any claim varies between two or more sections of this Agreement, that section providing the most comprehensive indemnification shall apply. 

15.    Liability Insurance. To the extent the Corporation maintains an insurance policy or policies providing
directors’ and officers’ liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available and maintained by the Corporation for any director
or officer of the Corporation or any applicable subsidiary or affiliated company. 
 16.    Miscellaneous. 

(a)    Governing Law. This Agreement and all acts and transactions pursuant hereto and the rights and obligations
of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflict of law. 

  
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 (b)    Entire Agreement; Enforcement of Rights. This Agreement sets
forth the entire agreement and understanding of the parties relating to the subject matter herein and merges all prior discussions between them. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement,
shall be effective unless in writing signed by the parties to this Agreement. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party. 

(c)    Construction. This Agreement is the result of negotiations between and has been reviewed by each of the
parties hereto and their respective counsel, if any; accordingly, this Agreement shall be deemed to be the product of all of the parties hereto, and no ambiguity shall be construed in favor of or against any one of the parties hereto. 

(d)     Notices. All notices, demands or other communications to be given or delivered under or by reason of the
provisions of this Agreement shall be in writing and shall be deemed to have been given (i) when delivered personally to the recipient, (ii) one business day after the date when sent to the recipient by reputable overnight courier service
(charges prepaid), or (iii) five business days after the date when mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. Such notices, demands and other communications shall be sent to the
parties at the addresses indicated on the signature page hereto, or to such other address as any party hereto may, from time to time, designate in writing delivered pursuant to the terms of this Section 16(d). 

(e)    Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original and all of which together shall constitute one instrument. 
 (f)    Successors and Assigns. This
Agreement shall be binding upon the Corporation and its successors and assigns and shall inure to the benefit of Indemnitee and Indemnitee’s heirs, legal representatives and assigns. 

(g)    Subrogation. In the event of payment under this Agreement, the Corporation shall be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Corporation to effectively bring suit to enforce such
rights. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year
first above written. 
  

			
	TARGA RESOURCES CORP.
		
	By:	 	 /s/ Joe Bob Perkins

	Name:	 	Joe Bob Perkins
	Title:	 	Chief Executive Officer
		
	Address:	 	 1000 Louisiana, Suite 4300
 Houston, Texas
77002

	
	INDEMNITEE:
	
	 /s/ Robert Muraro

	Robert MuraroExhibit

AMENDMENT TO BOND PURCHASE AND COVENANTS AGREEMENT

This AMENDMENT TO BOND PURCHASE AND COVENANTS AGREEMENT COVENANTS AGREEMENT (this “Amendment”) is dated as of February 21, 2017 and effective in accordance with Section 3 below, by and among The Dayton Power and Light Company, an Ohio corporation (the “Company”), certain of the Lenders referred to below, and SUNTRUST BANK, a Georgia banking corporation, as administrative agent for the Lenders party to the Covenants Agreement (“Administrative Agent”).
STATEMENT OF PURPOSE:
WHEREAS, the Company, certain financial institutions party thereto (the “Lenders”) and the Administrative Agent have entered into that certain Bond Purchase and Covenants Agreement dated as of August 1, 2015 (as heretofore amended, restated, supplemented or otherwise modified from time to time, the “Covenants Agreement”);
WHEREAS, the Company has requested certain amendments to the Covenants Agreement as set forth more fully herein; 
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
Section 1.    Capitalized Terms.  All capitalized undefined terms used in this Amendment (including, without limitation, in the introductory paragraph and the statement of purpose hereto) shall have the meanings assigned thereto in the Covenants Agreement (as amended by this Amendment).
Section 2.    Amendments to Covenants Agreement.  Effective as of the Amendment Effective Date (as defined below) and subject to the terms and conditions set forth herein and in reliance upon representations and warranties set forth herein, the parties hereto agree that the Covenants Agreement is amended as follows:
(a)The definition of “Consolidated Net Worth” set forth in Section 1.01 of the Covenants Agreement is hereby deleted in its entirety and is hereby replaced with the following:
“"Consolidated Net Worth" means, as of any date of determination, for the Company and its Subsidiaries on a consolidated basis, the sum of (a) all amounts that, in conformity with GAAP, would be included under the caption "total stockholders’ equity" (or any like caption) on a consolidated balance sheet of the Company and its Subsidiaries as of such date, plus (b) for any period of determination through the Company’s fiscal quarter ending March 31, 2018, all non-cash charges taken in accordance with GAAP related directly to any write-down of coal generation assets in the Company’s fiscal quarter ending December 31, 2016 and thereafter; provided that in no event shall Consolidated Net Worth include any amounts in respect of Redeemable Stock.”
(b)Section 7.11(b) of the Covenants Agreement is hereby deleted in its entirety and is hereby replaced with the following:
“(b)    On and after the date of the completion of the Separation Transactions, permit the ratio of (i) Consolidated Total Debt to Consolidated Total Capitalization at any time to be greater than 0.75 to 1.00 and (ii) Consolidated EBITDA to Consolidated Interest Charges to be less than 2.50 to 1.00; provided that (x) for the twelve (12) month period following completion of the Separation Transactions, if long term indebtedness of the Company, as determined by PUCO, is less than or equal to $750,000,000, then compliance with the ratio in clause (i) of this subsection (b) shall be suspended and (y) if the Company has a Rating of BBB-/Baa3/BBB- or higher with a stable outlook from at least one of Fitch, S&P or Moody’s, then the ratio in clause (i) of the subsection (b) shall be suspended for so long as the Company maintains such Rating.”
Section 3.    Conditions to Effectiveness.  This Amendment shall be deemed to be effective upon the satisfaction or waiver of each of the following conditions to the reasonable satisfaction of the Administrative Agent (such date, the “Amendment Effective Date”):
(a)    the Administrative Agent’s receipt of this Amendment, duly executed by the Administrative Agent, the Required Lenders and a Responsible Officer of the Company;
(b)    payment of all expenses of the Administrative Agent required to be paid on the Amendment Effective Date; and
(c)    the representations and warranties in Section 4 of this Amendment shall be true and correct as of the Amendment Effective Date. 
For purposes of determining compliance with the conditions specified in this Section 3, each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Amendment Effective Date specifying its objection thereto.
Section 4.    Representations and Warranties.  By its execution hereof, the Company hereby represents and warrants to the Administrative Agent and the Lenders that, as of the date hereof after giving effect to this Amendment:
(a)    each of the representations and warranties made by the Company in or pursuant to the Loan Documents is true and correct in all material respects (except to the extent that such representation and warranty is subject to a materiality or Material Adverse Effect qualifier, in which case it shall be true and correct in all respects), in each case, on and as of the date hereof as if made on and as of the date hereof, except to the extent that such representations and warranties relate 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)    no Default or Event of Default has occurred and is continuing as of the date hereof after giving effect hereto;
(c)    it has the right and power and is duly authorized and empowered to enter into, execute and deliver this Amendment and to perform and observe the provisions of this Amendment; 
(d)    this Amendment has been duly authorized and approved by the Company’s board of directors or other governing body, as applicable, and constitutes a legal, valid and binding obligation of the Company, enforceable against Company in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; and
(e)    the execution, delivery and performance of this Amendment do not conflict with, result in a breach in any of the provisions of, constitute a default under, or result in the creation of a Lien upon any assets or property of any of the Company, or any of its respective Subsidiaries, under the provisions of, the Company’s or such Subsidiary’s organizational documents or any material agreement to which the Company or Subsidiary is a party.
Section 5.    Effect of this Amendment.  On and after the Amendment Effective Date, references in the Covenants Agreement to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein”, and “hereof”) and in any Loan Document to the “Covenants Agreement” shall be deemed to be references to the Covenants Agreement as modified hereby and any Default that would otherwise exist but for this Amendment shall be deemed waived and not to have existed.  Except as expressly provided herein, the Covenants Agreement and the other Loan Documents shall remain unmodified and in full force and effect.  Except as expressly set forth herein, this Amendment shall not be deemed (a) to be a waiver of, or consent to, a modification or amendment of, any other term or condition of the Covenants Agreement or any other Loan Document, (b) to prejudice any other right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Covenants Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented or otherwise modified from time to time, (c) to be a commitment or any other undertaking or expression of any willingness to engage in any further discussion with the Company or any other Person with respect to any waiver, amendment, modification or any other change to the Covenants Agreement or the Loan Documents or any rights or remedies arising in favor of the Lenders or the Administrative Agent, or any of them, under or with respect to any such documents or (d) to be a waiver of, or consent to or a modification or amendment of, any other term or condition of any other agreement by and among the Company, on the one hand, and the Administrative Agent or any other Lender, on the other hand.    
Section 6.    Costs and Expenses. The Company hereby reconfirms its obligations pursuant to the terms of the Covenants Agreement to pay and reimburse the Administrative Agent and its Affiliates for its out-of-pocket costs and expenses in accordance with the terms thereof.
Section 7.    Acknowledgments and Reaffirmations.  The Company (a) consents to this Amendment and agrees that the transactions contemplated by this Amendment shall not limit or diminish the obligations of such Person under, or release such Person from any obligations under, any of the Loan Documents to which it is a party, (b) confirms and reaffirms its obligations under each of the Loan Documents to which it is a party and (c) agrees that each of the Loan Documents to which it is a party remain in full force and effect and are hereby ratified and confirmed.
Section 8.    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
Section 9.    Counterparts.  This Amendment may be executed in any number of counterparts, and by different parties hereto in separate counterparts and by facsimile signature, each of which counterparts when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement.
Section 10.    Electronic Transmission.  Delivery of this Amendment by facsimile, telecopy or pdf shall be effective as delivery of a manually executed counterpart hereof; provided that, upon the request of any party hereto, such facsimile transmission or electronic mail transmission shall be promptly followed by the original thereof.
[Signature Pages Follow]

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

COMPANY:

THE DAYTON LIGHT AND POWER COMPANY

By:                            
Name:
Title:

SUNTRUST BANK, as Administrative Agent
By:    
Name:    
Title:    
STI INSTITUTIONAL & GOVERNMENT, INC., as a Lender
By:    
Name:    
Title:    
PNC BANK, NATIONAL ASSOCIATION, as a Lender
By:    
Name:    
Title:    

U.S. BANK NATIONAL ASSOCIATION, as a Lender
By:    
Name:    
Title:    

FIFTH THIRD COMMERCIAL FUNDING, INC., as a Lender
By:    
Name:    
Title:    
HUNTINGTON PUBLIC CAPITAL CORPORATION, as a Lender
By:    
Name:    
Title:    
REGIONS CAPITAL ADVANTAGE, INC., as a Lender
By:    
Name:    
Title:    
BMO HARRIS BANK, N.A., as a Lender
By:    
Name:    
Title:    

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