Document:

Exhibit 10.1

 

LIMITED CONSENT AND WAIVER

 

This LIMITED CONSENT AND WAIVER (this “Consent”) dated as of May 24, 2011 is entered into by and among THE DAYTON POWER AND LIGHT COMPANY, an Ohio corporation (the “Borrower”), BANK OF AMERICA, N.A., in its capacity as administrative agent for the Lenders (as defined in the Credit Agreement described below) (in such capacity, the “Administrative Agent”), and each of the Lenders.  Each capitalized term used and not otherwise defined in this Consent has the definition specified in the Credit Agreement described below.

 

WITNESSETH:

 

WHEREAS, the Borrower, the Administrative Agent and the Lenders party thereto have entered into that certain Credit Agreement dated as of April 20, 2010 (the “Credit Agreement”), pursuant to which the Lenders have made available to the Borrower a revolving credit facility with a letter of credit sublimit;

 

WHEREAS, the Borrower has advised the Administrative Agent and the Lenders that pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”) dated as of April 19, 2011 by and among DPL Inc., an Ohio corporation and the parent company of the Borrower (the “Parent”), The AES Corporation, a Delaware corporation (“AES”), and Dolphin Sub, Inc., an Ohio corporation and a wholly-owned subsidiary of AES (the “Merger Sub”), the Parent will be merged with and into the Merger Sub with the Parent surviving the Merger as a wholly-owned subsidiary of AES (such merger, the “Merger”);

 

WHEREAS, the Borrower has requested that the Administrative Agent and the Required Lenders consent to, and waive any Event of Default that would otherwise result from, the “Change of Control” resulting from the closing of the Merger, and the Administrative Agent and the Required Lenders are willing to grant such consent and waiver on the terms and conditions contained in this Consent; and

 

WHEREAS, pursuant to Section 10.01 of the Credit Agreement, this Consent shall be effective when signed by the Borrower and the Required Lenders and acknowledged by the Administrative Agent;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto hereby agree as follows:

 

1.             Limited Consent and Waiver.   Subject to the terms and conditions set forth herein, and in reliance upon the representations and warranties of the Borrower made herein, the Administrative Agent and each of the Lenders hereby consent to, and waive any Event of Default that would otherwise result from, the “Change of Control” resulting from the closing of the Merger; provided that the Merger is consummated substantially in accordance with the Merger Agreement provided to the Administrative Agent and the Lenders prior to the date hereof.

 

 

2.             Effectiveness; Conditions Precedent.  The effectiveness of this Consent and the consent provided in Section 1 are subject to the satisfaction of the following conditions precedent:

 

(a)           The Administrative Agent shall have received original counterparts of this Consent, duly executed by the Borrower, the Administrative Agent and the Required Lenders. The Administrative Agent’s execution of this Consent shall constitute the acknowledgement required by Section 10.01 of the Credit Agreement.

 

(b)           All fees and expenses payable by the Borrower to the Administrative Agent and the Lenders pursuant to the Credit Agreement (including the reasonable fees and expenses of counsel to the Administrative Agent) to date shall have been paid in full (without prejudice to final settling of accounts for such fees and expenses).

 

3.             Representations and Warranties.  In order to induce the Administrative Agent and the Lenders to enter into this Consent, the Borrower represents and warrants to the Administrative Agent and such Lenders as follows:

 

(a)           The representations and warranties made by it in Article V of the Credit Agreement are true and correct in all material respects on and as of the date hereof, except that (i) if a qualifier relating to materiality, Material Adverse Effect or a similar concept applies, such representation or warranty shall be required to be true and correct in all respects, (ii) to the extent that such representations and warranties expressly 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 (except that if a qualifier relating to materiality, Material Adverse Effect or a similar concept applies, such representation or warranty shall be required to be true and correct in all respects), and (iii) the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement;

 

(b)           Since the date of the most recent financial reports of the Borrower delivered pursuant to Section 6.01 of the Credit Agreement, no act, event, condition or circumstance has occurred or arisen which, singly or in the aggregate with one or more other acts, events, occurrences or conditions (whenever occurring or arising), has had or could reasonably be expected to have a Material Adverse Effect;

 

(c)           This Consent has been duly authorized, executed and delivered by the Borrower and constitutes a legal, valid and binding obligation of the Borrower, except as may be limited by general principles of equity or public policy or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally; and

 

(d)           No Default or Event of Default has occurred and is continuing or will exist after giving effect to this Consent.

 

4.             Entire Agreement.  This Consent, together with the Loan Documents (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations

 

2

 

and agreements among the parties relating to such subject matter.  No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty.  Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other in relation to the subject matter hereof or thereof.  None of the terms or conditions of this Consent may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.01 of the Credit Agreement.

 

5.             Full Force and Effect of Loan Documents.  Except as hereby specifically amended, modified or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms.

 

6.             Counterparts.  This Consent may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Consent by telecopy, facsimile or other electronic transmission (including .pdf) shall be effective as delivery of a manually executed counterpart of this Consent.

 

7.             Governing Law.  This Consent shall in all respects be governed by, and construed in accordance with, the laws of the State of New York.

 

8.             Enforceability.  Should any one or more of the provisions of this Consent be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.

 

9.             References.  All references in any of the Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as amended hereby and as from time to time hereafter further amended, modified, supplemented, restated or amended and restated.

 

10.           Successors and Assigns.  This Consent shall be binding upon and inure to the benefit of the Borrower, the Administrative Agent, each Lender and their respective successors and assignees to the extent such assignees are permitted assignees as provided in Section 10.06 of the Credit Agreement.

 

[Signature pages follow.]

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Limited Consent and Waiver to be executed as of the date first above written.

 

	
 
    	
BORROWER:
    
	
 
    	
 
    
	
 
    	
THE   DAYTON POWER AND LIGHT COMPANY
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

LIMITED CONSENT AND WAIVER

Signature Page

 

 

	
 
    	
ADMINISTRATIVE   AGENT:
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A., as
    
	
 
    	
Administrative Agent
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

LIMITED CONSENT AND WAIVER

Signature Page

 

 

	
 
    	
LENDERS:
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

LIMITED CONSENT AND WAIVER

Signature Page

 

 

	
 
    	
PNC   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

LIMITED CONSENT AND WAIVER

Signature Page

 

 

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

 

LIMITED CONSENT AND WAIVER

Signature Page

 

 

	
 
    	
FIFTH   THIRD BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

LIMITED CONSENT AND WAIVER

Signature Page

 

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

LIMITED CONSENT AND WAIVER

Signature PageEXHIBIT 10.1

 

FIFTH AMENDMENT TO CREDIT AGREEMENT

 

This Fifth Amendment to Credit Agreement (this “Amendment”) is entered into as of the 24th day of May, 2011 (the “Amendment Effective Date”), by and among NGL ENERGY PARTNERS LP, a Delaware limited partnership (“Parent”), SILVERTHORNE OPERATING LLC, a Delaware limited liability company (“Silverthorne”), each subsidiary of Silverthorne listed as a “Borrower” on the signature pages hereto (together with Silverthorne, each a “Borrower”, and collectively, the “Borrowers”), each subsidiary of Silverthorne listed as a “Guarantor” on the signature pages hereto, WELLS FARGO BANK, NATIONAL ASSOCIATION, as agent (the “Agent”) for the Lenders (defined below), and the Additional Revolving Lender (defined below).

 

RECITALS

 

WHEREAS, the Credit Parties, the Agent, and the financial institutions party thereto (the “Lenders”) have executed that certain Credit Agreement, dated as of October 14, 2010 (as such may be amended, modified and supplemented from time to time, the “Credit Agreement”); unless otherwise defined herein, all capitalized terms not defined herein have the meaning given such terms in the Credit Agreement;

 

WHEREAS, in connection with the IPO, the Krimbill Parties may be obligated to sell up to 14,718 shares of Parent, representing not more than 1.61% of their limited partnership interests of Parent (the “Krimbill Equity Sale”);

 

WHEREAS, the Krimbill Equity Sale is not permitted under clause (f) of the definition of “Change in Control” in the Credit Agreement, which requires the Krimbill Parties to maintain ownership of 100% of the Equity Interests in the General Partner and Parent owned by the Krimbill Parties as of the Closing Date;

 

WHEREAS, the Credit Parties have requested that the Credit Agreement be amended to permit the Krimbill Equity Sale; and

 

WHEREAS, the Required Lenders are willing to amend the Credit Agreement as set forth herein, subject to the terms and conditions contained herein.

 

NOW THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound hereby, the parties hereby agree as follows:

 

Section 1.               Amendments to the Loan Agreement.  In reliance upon the representations, warranties, covenants and conditions contained in this Amendment, and subject to the satisfaction of each condition precedent set forth in Section 2 hereof, the Loan Agreement is hereby amended as of the Amendment Effective Date in the manner provided in this Section 1.

 

1.1.          Additional Definitions.  Section 1.1 of the Credit Agreement is hereby amended to add thereto, in alphabetical order, the definitions of “Fifth Amendment” and “Krimbill Equity Sale,” which shall read in full as follows:

 

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“Fifth Amendment” means that certain Fifth Amendment to Credit Agreement, dated as of May 24, 2011, among Parent, the Credit Parties, the Agent, and the Lenders party thereto.

 

“Krimbill Equity Sale” means the sale or redemption, in connection with the IPO, of not more than 14,718 common units of Parent by the Krimbill Parties as contemplated by the Fifth Amendment.

 

1.2.          Amendments to Definition of “Change of Control”.  Clause (f) of the definition of “Change of Control” is amended and restated in its entirety to read as follows:

 

(f) The Krimbill Parties cease to own 100% of the Equity Interests of the General Partner and the Parent owned by the Krimbill Parties as of the Closing Date other than as a result of the Krimbill Equity Sale, or any Krimbill Party ceases to be directly or indirectly controlled by Michael Krimbill (other than following the transfer of all of such Krimbill Party’s Equity Interests in the General Partner and the Parent to another Krimbill Party), or

 

1.3.          Amendment to Section 7.11.  Section 7.11 of the Credit Agreement is amended to add the following provision at the end of Section 7.11(a):  “ provided that, the redemption of up to 175,000 common units of Parent in connection with the exercise of the over-allotment option by the underwriters in connection with the IPO shall not be prohibited by this Section 7.11;”.

 

Section 2.               Conditions Precedent to Amendment.  This Amendment will be effective as of the Amendment Effective Date, on the condition that the following conditions precedent will have been satisfied:

 

2.1.          Amendment.  The Agent will have received counterparts of this Amendment executed on behalf of the Credit Parties and the Required Lenders.

 

2.2.          Consummation of IPO.  The IPO shall have occurred or will occur contemporaneously with the completion of the Krimbill Equity Sale.

 

Section 3.               Representations, Warranties, and Covenants of the Credit Parties.  To induce the Lenders to enter into this Amendment, each of the Credit Parties hereby represents, warrants, and covenants to the Lenders as follows:

 

3.1.          Krimbill Equity Sale.  The shares of the Parent to be sold by the Krimbill Parties pursuant to the Krimbill Equity Sale do not, and will not upon the completion thereof, exceed 1.61% of the limited partnership interests of the Parent owned by the Krimbill Parties as of the Closing Date.

 

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3.2.          Due Authorization; No Conflict.  The execution, delivery and performance by the Credit Parties of this Amendment are within each Credit Party’s limited liability company, corporate, or partnership powers (as applicable), have been duly authorized by all necessary action, require no action by or in respect of, or filing with, any governmental body, agency or official and do not violate, conflict with, or constitute a default under any Legal Requirement, the Organizational Documents of any Credit Party, or any material contract binding upon any of the Credit Parties, or result in the creation or imposition of any Lien upon any of the assets of any of the Credit Parties.

 

3.3.          Validity and Enforceability.  This Amendment constitutes the valid and binding obligation of each of the Credit Parties enforceable in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally, and general equitable principles including remedies of specific performance and injunction.

 

3.4.          No Defenses.  None of the Credit Parties has any defenses to payment, counterclaims, or right of set-off with respect to any Obligations existing as of the Amendment Effective Date.

 

3.5.          All Representations and Warranties True and Correct.  Each representation and warranty of the Borrowers contained in the Credit Agreement and the other Loan Documents is true and correct in all material respects on the date hereof (unless such representation and warranty is expressly limited to an earlier date); except that (a) Rocket Supply Inc. (“Rocket”), a Delaware corporation joined to the Credit Agreement as an additional Guarantor pursuant to that certain Joinder Agreement dated as of May 4, 2011, between Rocket and the Agent (the “Joinder”), as of the date hereof, may not yet own, possess or have the benefit of all material permits and licenses which are required to conduct its business (other than such permits and licenses, if any, the failure of Rocket to own, possess or have the benefit of as of the date hereof would have a Material Adverse Effect) and (b) transfer to Rocket of title of the assets as contemplated in the Joinder may not have been completed as of the date hereof.

 

3.6.          No Default.  No Default or Event of Default has occurred which is continuing.

 

Section 4.              Miscellaneous.

 

4.1.          Reaffirmation of Loan Documents.  Any and all of the terms and provisions of the Credit Agreement and the Loan Documents will, except as amended and modified hereby, remain in full force and effect.  The amendments contemplated hereby shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified and affirmed.  This Amendment constitutes a Loan Document.

 

4.2.          Parties in Interest.  All of the terms and provisions of this Amendment will bind and inure to the benefit of the parties to the Credit Agreement and their respective successors and assigns.

 

4.3.          Expenses.  As provided in Section 10.9 of the Credit Agreement, the Borrowers hereby agree to pay on demand all legal and other fees, costs and expenses incurred by the Agent

 

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in connection with the negotiation, preparation, and execution of this Amendment and all related documents.

 

4.4.          Counterparts.  This Amendment may be executed in counterparts, and all parties need not execute the same counterpart; however, no party shall be bound by this Amendment until the Credit Parties and the Required Lenders have executed a counterpart.  Facsimiles or other electronic transmission (e.g., pdf) will be effective as originals.

 

4.5.          Complete Agreement.  THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

 

4.6.          Headings.  The headings, captions, and arrangements used in this Amendment are, unless specified otherwise, for convenience only and will not be deemed to limit, amplify, or modify the terms of this Amendment, nor affect the meaning thereof.

 

[Signature Pages Follow]

 

4

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers on the date first written above.

 

 

	
BORROWERS:
    	
SILVERTHORNE   OPERATING LLC, a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NGL   SUPPLY, LLC, a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
HICKSGAS,   LLC, a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NGL   SUPPLY RETAIL, LLC, a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
 
    	
NGL   SUPPLY WHOLESALE, LLC, a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NGL   SUPPLY TERMINAL COMPANY, LLC, a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
GUARANTORS:
    	
NGL   ENERGY PARTNERS LP, a Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ROCKET   SUPPLY INC., a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Jones
    
	
 
    	
Name:
    	
Craig   Jones
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
LENDERS:
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender, as Agent, as Swingline Lender, and as an Issuing Bank
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   David C. Brooks
    
	
 
    	
Name:
    	
David   C. Brooks
    
	
 
    	
Title:
    	
Director
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
 
    	
BNP   PARIBAS,
    
	
 
    	
as   a Lender and as an Issuing Bank
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jordan Nenoff
    
	
 
    	
Name:
    	
Jordan   Nenoff
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Keith Cox
    
	
 
    	
Name:
    	
Keith   Cox
    
	
 
    	
Title:
    	
Managing   Director
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
 
    	
BOKF,   NA DBA BANK OF OKLAHOMA,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jason B. Webb
    
	
 
    	
Name:
    	
Jason   B. Webb
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
 
    	
CAPITAL   ONE, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Gina Monette
    
	
 
    	
Name:
    	
Gina   Monette
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
 
    	
PNC   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Christopher Hermann
    
	
 
    	
Name:
    	
Christopher   Hermann
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
 
    	
SUNTRUST   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Carmen Malizia
    
	
 
    	
Name:
    	
Carmen   Malizia
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

 

 

	
 
    	
THE   F&M BANK & TRUST COMPANY,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Carol E. Owens
    
	
 
    	
Name:
    	
Carol   E. Owens
    
	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page]

FIFTH AMENDMENT TO CREDIT AGREEMENT

SILVERTHORNE OPERATING LLC

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