Document:

Exhibit 10.2

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

This FIRST AMENDMENT TO
CREDIT AGREEMENT (this “Amendment”) is entered into effective as of June 5, 2017, between ENBRIDGE
ENERGY PARTNERS, L.P., a Delaware limited partnership, as borrower (the “Borrower”), and ENBRIDGE
(U.S.) INC., as lender (in such capacity, the “Lender”).

 

WHEREAS, the Borrower and
the Lender are parties to that certain Credit Agreement dated as of July 26, 2016 (as amended, restated, or otherwise modified
from time to time, the “Credit Agreement”).

 

WHEREAS, Borrower has requested
certain amendments to the Credit Agreement to facilitate the sale of Midcoast Energy Partners, L.P. (“MEP”)
and MEP’s subsidiaries to a subsidiary of Enbridge, Inc. (the “MEP Transaction”).

 

WHEREAS, subject to the
terms and conditions set forth herein, the parties hereto are willing to agree to amend the Credit Agreement as set forth in Section
2 below.

 

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.      Definitions.
Unless otherwise defined in this Amendment, terms used in this Amendment which are defined in the Credit Agreement shall have the
meanings assigned to such terms in the Credit Agreement. The interpretive provisions set forth in Section 1.02 of the Credit
Agreement shall apply to this Amendment.

 

SECTION 2.      Amendments
to the Credit Agreement. The Credit Agreement is amended as follows, effective as of the Effective Date (as defined in Section
3 below).

 

(a)       Amendment
to Section 7.08(a) (Unrestricted Subsidiaries; MEP). Section 7.08(a) of the Credit Agreement is amended and restated
in its entirety as follows:

 

(a)       Neither
the Borrower nor any Restricted Subsidiary may guaranty or otherwise become liable in respect of any Indebtedness or other obligations
of, grant any Lien on any of its property to secure any Indebtedness of or other obligation of, or provide any other form of credit
support to, any Unrestricted Subsidiary, provided however that the Borrower or a Restricted Subsidiary may grant a Lien
on the equity interests of an Unrestricted Subsidiary to secure Indebtedness of such Unrestricted Subsidiary.

 

(b)       Deletion
of Section 7.08(c) (Unrestricted Subsidiaries; MEP). Section 7.08(c) of the Credit Agreement is deleted.

 

SECTION 3.     Conditions
to Effectiveness. This Amendment shall be effective as of the date on which each of the following conditions has been satisfied
(the “Effective Date”):

 

		(a)	the Lender has received a counterpart of this Amendment executed by the Borrower (which may be
by telecopy or other electronic transmission); and

 

		(b)	the MEP Transaction has been consummated.

 

    	 	 	 

     

    

 

SECTION 4.      Representations
and Warranties. As a material inducement to the Lender to execute and deliver this Amendment, the Borrower represents and warrants
to the Lender that as of the Effective Date, both immediately before and after giving effect to this Amendment, that:

 

(a)       This
Amendment has been duly authorized, executed, and delivered by the Borrower and the Credit Agreement as amended hereby constitutes
its legal, valid, and binding obligations enforceable against it in accordance with their respective terms (subject, as to the
enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium, and similar laws affecting creditors’
rights generally and to general principles of equity).

 

(b)       The
representations and warranties set forth in Article V of the Credit Agreement are true and correct in all material respects
on and as of the Effective Date, after giving effect to this Amendment, except to the extent such representations and warranties
relate solely to an earlier date, in which case, they shall be true and correct as of such date.

 

(c)       As
of the date hereof, at the time of and immediately after giving effect to this Amendment, no Default or Event of Default has occurred
and is continuing.

 

(d)       No
approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority is required
to be obtained or made by the Borrower by any material statutory law or regulation applicable to it as a condition to the execution,
delivery or performance by, or enforcement against, the Borrower of this Amendment. The execution, delivery, and performance by
the Borrower of this Amendment has been duly authorized by all necessary corporate or other organizational action, and does not
and will not (i) violate the terms of any of the Borrower’s Organization Documents, (ii) result in any breach of, constitute
a default under, or require pursuant to the express provisions thereof, the creation of any consensual Lien on the properties of
the Borrower under, any Contractual Obligation to which the Borrower is a party or any order, injunction, writ or decree of any
Governmental Authority to which the Borrower or its property is subject, or (iii) violate any Law, in each case with respect to
the preceding clauses (i) through (iii), which would reasonably be expected to have a Material Adverse
Effect.

 

SECTION 6.     Effect;
Affirmation and Ratification of Loan Documents. This Amendment (a) except as expressly provided herein, shall not be deemed
to be a consent to the modification or waiver of any other term or condition of the Credit Agreement or of any of the instruments
or agreements referred to therein and does not constitute a waiver of compliance or consent to noncompliance by the Borrower with
respect to the terms, provisions, conditions and covenants of the Credit Agreement and (b) shall not prejudice any right or rights
which the Lender may now have under or in connection with the Credit Agreement, as amended by this Amendment. Except as otherwise
expressly provided by this Amendment, all of the terms, conditions and provisions of the Credit Agreement and the other Loan Documents
shall remain the same, including, without limitation, all of the Borrower’s obligations and covenants under each Loan
Document. It is declared and agreed by each of the parties hereto that the Credit Agreement, as amended hereby, and the other
Loan Documents, from and after the Effective Date, shall continue in full force and effect and are hereby ratified and confirmed
in all respects, and that this Amendment and such Credit Agreement shall be read and construed as one instrument. The Borrower
represents and acknowledges that it has no claims, counterclaims, offsets, credits or defenses to the Loan Documents or the performance
of its obligations thereunder. From and after the Effective Date, each reference in the Credit Agreement, including the schedules
and exhibits thereto and the other documents delivered in connection therewith, to the “Credit Agreement,” “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, shall mean and
be a reference to the Credit Agreement as amended hereby, respectively.

 

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SECTION 7.      Miscellaneous.
This Amendment shall for all purposes be construed in accordance with and governed by the laws of the State of New York and applicable
federal law. The captions in this Amendment are for convenience of reference only and shall not define or limit the provisions
hereof. This Amendment may be executed in separate counterparts, each of which when so executed and delivered shall be an original,
but all of which together shall constitute one instrument. In proving this Amendment, it shall not be necessary to produce or account
for more than one such counterpart. Delivery of an executed counterpart of this Amendment by facsimile or in electronic form shall
be effective as the delivery of a manually executed counterpart. This Amendment shall be a “Loan Document” as defined
in the Credit Agreement.

 

SECTION 8.      Entire
Agreement. THE CREDIT AGREEMENT (AS AMENDED BY THIS AMENDMENT) AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN
THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

[SIGNATURES BEGIN ON NEXT PAGE]

 

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

  

	 	ENBRIDGE ENERGY PARTNERS, L.P., 
	 	a Delaware limited partnership, as Borrower
	 	 
	 	By:	ENBRIDGE ENERGY MANAGEMENT, 
	 	 	L.L.C., as delegate of Enbridge Energy Company, Inc., its General Partner
	 	 	 
	 	 	By:	/s/ Valorie Wanner
	 	 	 	Name: Valorie Wanner
	 	 	 	Title: Corporate Secretary

 

[SIGNATURE PAGE TO

FIRST AMENDMENT TO CREDIT AGREEMENT]

 

    	 	 	 

     

    

 

	 	ENBRIDGE (U.S.) INC., as Lender
	 	 	 
	 	By:	/s/ Valorie Wanner
	 	 	Name: Valorie Wanner
	 	 	Title: Corporate Secretary

 

[SIGNATURE PAGE TO

FIRST AMENDMENT TO CREDIT AGREEMENT]Exhibit

WAIVER AGREEMENT

THIS WAIVER AGREEMENT dated as of June 8, 2017 (the “Agreement”) is entered into among Bravo Brio Restaurant Group, Inc., an Ohio corporation (the “Borrower”), the Guarantors party hereto, the Lenders party hereto and Wells Fargo Bank, National Association, as Administrative Agent.  All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below).

RECITALS

WHEREAS, the Borrower, the Guarantors (as defined therein), the Lenders and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders, entered into that certain Credit Agreement dated as of November 5, 2014 (as amended by that certain First Amendment to Credit Agreement and Waiver dated as of October 31, 2016 and as further amended or modified from time to time, the “Credit Agreement”);

WHEREAS, the Borrower has informed the Administrative Agent that it has failed to comply with Section 4.2(d) of the Credit Agreement in connection with requests for, and borrowings of, Swingline Loans made between May 8, 2017 and June 2, 2017, in each case which failure has resulted in an Event of Default under Section 7.1(b) of the Credit Agreement as of such applicable date (collectively, the “Existing Events of Default”);

WHEREAS, the Borrower has requested that the Required Lenders waive the Existing Events of Default; and

WHEREAS, the Required Lenders are willing to waive the Existing Events of Default subject to the terms and conditions set forth below.

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.    Waiver.  

(a)    Subject to the other terms and conditions of this Agreement, the Administrative Agent and the Required Lenders hereby waive the Existing Events of Default; provided this waiver shall only be effective from the date hereof until the earlier of (i) July 14, 2017 or (ii) the occurrence of any other Default or Event of Default under the Credit Agreement (such period, the “Effective Period”).

(b)    Upon the earlier to occur of the events set forth in clause (a) above, (i) each of the Existing Events of Default shall be reinstated  as if such Existing Event of Default had not been waived hereby and shall constitute an Existing Event of Default occurring on the applicable date of such Existing Event of Default and  (ii) the  Administrative Agent and the Lenders shall be immediately entitled to exercise any or all of their rights and remedies arising in respect thereof, including, without limitation,  the right, at the option of the Required Lenders,  to charge default interest in accordance with Section 2.7(b) of the Credit Agreement beginning as of such applicable date.

(c)    The Administrative Agent and the Required Lenders hereby agree that the Credit Parties shall not be required to comply with Section 4.2(d) of the Credit Agreement with respect to any Extension of Credit requested to be made during the Effective Period.

(d)    Notwithstanding anything to the contrary provided in the Credit Agreement, the Borrower hereby acknowledges and agrees that during the Effective Period, after giving effect any Revolving Loan and/or Swingline Loan made during the Effective Period, the sum of (i) the aggregate principal amount of all Revolving Loans then outstanding and (ii) the aggregate principal amount of all Swingline Loans then outstanding (the sum of (i) and (ii) at any time, the “Aggregate Loan Exposure”) shall not exceed $15,000,000 (such amount, the “Effective Period 

Committed Loan Amount”) at any time during the Effective Period.  The Borrower hereby further acknowledges and agrees that if at any time during the Effective Period the Aggregate Loan Exposure exceeds the Effective Period Committed Loan Amount, the Borrower shall immediately prepay the Revolving Loans and Swingline Loans in an amount sufficient to eliminate such excess (such payment to be applied as set forth in Section 2.6(b)(ii) of the Credit Agreement).

(e)    The above waiver shall not modify or affect the Credit Parties’ obligations to comply fully with any duty, term, condition or covenant contained in the Credit Agreement or any other Credit Document.  The waiver is limited solely to the Existing Events of Default, and nothing contained in this Agreement shall be deemed to constitute a waiver of any other Default or Event of Default that may exist (other than the Existing Events of Default) or any other rights or remedies the Administrative Agent or any Lender may have under the Credit Agreement or any other Credit Documents or under applicable law.

2.    Condition Precedent.  This Agreement shall be effective as of the date set forth above upon receipt by the Administrative Agent of counterparts of this Agreement duly executed by the Borrower, the Guarantors, the Required Lenders and the Administrative Agent.  

3.    Miscellaneous.

(a)    The Credit Agreement, and the obligations of the Credit Parties thereunder and under the other Credit Documents, are hereby ratified and confirmed and shall continue and remain in full force and effect according to their terms.

(b)    Each Credit Party hereby represent and warrant as follows:

(i)    Each Credit Party has taken all necessary action to authorize the execution, delivery and performance of this Agreement.

(ii)    This Agreement has been duly executed and delivered by the Credit Parties and constitutes each of the Credit Parties’ legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).

(iii)    No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by any Credit Party of this Agreement.

(c)    The Credit Parties represent and warrant to the Lenders that (i) the representations and warranties of the Credit Parties set forth in Article III of the Credit Agreement and in each other Credit Document are true and correct as of the date hereof with the same effect as if made on and as of the date hereof, except to the extent such representations and warranties expressly relate solely to an earlier date and (ii) no event has occurred and is continuing which constitutes a Default or an Event of Default.

(d)    Each of the Borrower and the Guarantors hereby ratifies the Credit Agreement and each other Credit Document to which it is a party and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement and each other Credit Document to which it is a party applicable to it and (b) that it is responsible for the observance and full performance of its respective obligations under the Credit Documents.

(e)    Each of the Borrower and the Guarantors hereby releases the Administrative Agent and each Lender, and each of such Person’s officers, employees, representatives, affiliates, advisors, trustees, agents, managers, counsel and directors from any and all actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, now known or unknown, suspected or unsuspected, 

to the extent that any of the forgoing arises out of or is founded upon the Credit Agreement, any other Credit Document or the lending relationship established thereunder.  

(f)    This Agreement shall constitute a Credit Document under the terms of the Credit Agreement.

(g)    The Borrower agrees to pay all reasonable costs and expenses of Administrative Agent in connection with the preparation, execution and delivery of this Agreement, including without limitation the reasonable fees and expenses of the Administrative Agent’s legal counsel.

(h)    This Agreement and the other Credit Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.

(i)    This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of an executed counterpart of this Agreement by telecopy or other electronic means shall be effective as an original and shall constitute a representation that an executed original shall be delivered.

(j)    THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

[Signature pages follow]

Each of the parties hereto has caused a counterpart of this Agreement to be duly executed and delivered as of the date first above written.

BORROWER:    BRAVO BRIO RESTAURANT GROUP, INC.

By:    /s/ James J. O’Connor            
Name:  James J. O’Connor
Title:    Chief Financial Officer
    

ADMINISTRATIVE 
AGENT AND LENDERS:            WELLS FARGO BANK, NATIONAL ASSOCIATION, 
as Administrative Agent and Lender 

By:    /s/ Darcy McLaren                          
Name:  Darcy McLaren                          
Title:    Director                        

BANK OF AMERICA, N.A.                        
                        
By:    /s/ Anthony Luppino                    
Name:    Anthony Luppino            
Title:    Assistant Vice President                    

THE HUNTINGTON NATIONAL BANK
                        
By:    /s/ Amanda M. Sigg         
Name:    Amanda M. Sigg            
Title:    Vice President    
                        

KEYBANK NATIONAL ASSOCIATION

By:    /s/ Marianne T. Meil            
Name:    Marianne T. Meil            
Title:    Senior Vice President

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