Document:

Exhibit

EXHIBIT 10.5
EXECUTION VERSION

SECOND AMENDING AGREEMENT TO 
AMENDED AND RESTATED CREDIT AGREEMENT

dated as of December 14, 2015

ALTALINK INVESTMENT MANAGEMENT LTD., 
in its capacity as general partner of 
ALTALINK INVESTMENTS, L.P.,
as Borrower,
 - and -
ALTALINK INVESTMENT MANAGEMENT LTD.,
as General Partner,
- and -
ROYAL BANK OF CANADA,
as Administrative Agent of the Lenders, and as Lender,
- and -
THE LENDERS PARTY HERETO,
as Lenders

LEGAL_1:37171449.3
 

SECOND AMENDING AGREEMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 14, 2015, among AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P., as Borrower, AltaLink Investment Management Ltd., as General Partner, Royal Bank of Canada, as Agent of the Lenders (the “Agent”), and the Lenders party hereto.
RECITALS
WHEREAS AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P., as Borrower, Royal Bank of Canada, as Agent of the Lenders, and the Lenders are parties to an Amended and Restated Credit Agreement made as of July 30, 2015 as amended by a first amending agreement dated as of November 20, 2015 (collectively, the “Original Credit Agreement”);
AND WHEREAS the Borrower, the General Partner, the Lenders and the Agent have agreed to amend certain provisions of the Original Credit Agreement in the manner and on the terms and conditions provided for herein.
NOW THEREFORE for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
		
	1.1
	Definitions

All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Original Credit Agreement.
ARTICLE 2
AMENDMENT
		
	2.1
	Amendment to Definition of Maturity Date.  The definition of “Maturity Date” in the Original Credit Agreement is hereby amended by replacing the date “December 14, 2019” with the date “December 14, 2020” in such definition. 

ARTICLE 3
CONDITIONS PRECEDENT
3.1    Conditions Precedent
This Second Amending Agreement shall become effective when:
		
	(a) 
	the Agent shall have received an executed copy of this Second Amending Agreement from each of the Agent, the Lenders, the Borrower and the General Partner; 

		
	(b) 
	the Agent has received an extension fee from the Borrower, which fee shall be in the amount of 5 bps calculated on the Commitment of each Lender party to this Second Amending Agreement, and payable to each such Lender; and 

Legal_1:37171449.3

- 2 -

		
	(c)
	no Event of Default shall have occurred and be continuing.

The conditions set forth above are inserted for the sole benefit of the Lenders and may be waived by the Lenders in whole or in part, with or without terms or conditions.
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
		
	4.1
	Representations and Warranties True and Correct; No Default or Event of Default

The Borrower and General Partner each hereby represents and warrants to the Agent and the Lenders that after giving effect to this Second Amending Agreement, (i) each of the representations and warranties of the Borrower and the General Partner, as the case may be, contained in the Original Credit Agreement and each of the other Loan Documents is true and correct on, and as of the date hereof as if made on such date (except to the extent that such representation or warranty expressly relates to an earlier date and except for changes therein expressly permitted or expressly contemplated by the Original Credit Agreement), and (ii) no event has occurred and is continuing which constitutes or would constitute a Default or an Event of Default.
ARTICLE 5
MISCELLANEOUS
		
	5.1
	No Other Amendments, Waivers or Consents

Except as expressly set forth herein, the Original Credit Agreement and all Loan Documents shall be unmodified and shall continue to be in full force and effect in accordance with their terms.
		
	5.2
	Time

Time is of the essence in the performance of the parties’ respective obligations in this Second Amending Agreement.
		
	5.3
	Governing Law

This Second Amending Agreement is a contract made under, and shall be governed by and construed in accordance with, the laws of the Province of Alberta and the federal laws of Canada applicable therein.
		
	5.4
	Successors and Assigns

This Second Amending Agreement shall enure to the benefit of, and be binding upon, the parties hereto and their respective successors and any assigns, transferees and endorsees of the Agent or any Lender.  Nothing in this Second Amending Agreement, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under the Original Credit Agreement, as amended by this Second Amending Agreement.

Legal_1:37171449.3

- 3 -

		
	5.5
	Counterparts

This Second Amending Agreement may be executed by the parties hereto in counterparts and may be delivered by facsimile or other electronic means (including via electronic mail in portable document format) and all such counterparts shall together constitute one and the same agreement.
[Remainder of page intentionally left blank – signature pages follow]

Legal_1:37171449.3

The parties hereto have duly executed this Second Amending Agreement as of the date set forth on the first page of this Agreement.

	
				
	 
	 
	ALTALINK INVESTMENT MANAGEMENT LTD.,
in its capacity as General Partner of ALTALINK INVESTMENTS, L.P.

	By:
	/s/ Jeffrey A. Austin

	 
	Name:   Jeffrey A. Austin

	 
	Title:    Director

	By:
	/s/ Calvin Haack

	 
	Name: Calvin D. Haack

	 
	Title:    Director

AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ALTALINK INVESTMENT MANAGEMENT LTD.

	By:
	/s/ Jeffrey A. Austin

	 
	Name:   Jeffrey A. Austin

	 
	Title:    Director

	By:
	/s/ Calvin Haack

	 
	Name:   Calvin D. Haack

	 
	Title:    Director

AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ROYAL BANK OF CANADA, 
as Agent

	By:
	/s/ Yvonne Brazier

	 
	Name: Yvonne Brazier

	 
	Title:   Managing Agency

AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ROYAL BANK OF CANADA, 
as Lender

	By:
	/s/ Timothy Murray

	 
	Name: Timothy P. Murray

	 
	Title:   Authorized Signatory

AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	BANK OF MONTREAL, 
as Lender

	By:
	/s/ Carol McDonald

	 
	Name: Carol McDonald

	 
	Title:   Director

	 
	 
	 
	 

	 
	 
	By:
	/s/ Darren Thomas

	 
	 
	 
	Name: Darren Thomas

	 
	 
	 
	Title: Associate

AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ALBERTA TREASURY BRANCHES,
as Lender

	By:
	/s/ Tim Poole

	 
	Name: Tim Poole

	 
	Title: Senior Director

	 
	 
	 
	 

	 
	 
	By:
	/s/ Trevor Guinard

	 
	 
	 
	Name: Trevor Guinard

	 
	 
	 
	Title:   Senior Associate Director

AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	BANK OF NOVA SCOTIA, 
as Lender

	By:
	/s/ Bradley Walker

	 
	Name: Bradley Walker

	 
	Title:   Director

	 
	 
	 
	 

	 
	 
	By:
	/s/ Matthew Hartnoll

	 
	 
	 
	Name: Matthew Hartnoll

	 
	 
	 
	Title:   Associate Director

AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	NATIONAL BANK OF CANADA, 
as Lender

	By:
	/s/ Mark Williamson

	 
	Name: Mark Williamson

	 
	Title: Authorized Signatory

	 
	 
	 
	 

	 
	 
	By:
	/s/ Elin Wade

	 
	 
	 
	Name: Elin Wade

	 
	 
	 
	Title: Authorized Signatory

AltaLink – Second Amending Agreement to Amended and Restated Credit AgreementExhibit

EXHIBIT 10.6
Execution Copy

THIRD AMENDING AGREEMENT TO 
AMENDED AND RESTATED CREDIT AGREEMENT

dated as of July 8, 2016

ALTALINK INVESTMENT MANAGEMENT LTD., 
in its capacity as general partner of 
ALTALINK INVESTMENTS, L.P.,
as Borrower,
 - and -
ALTALINK INVESTMENT MANAGEMENT LTD.,
as General Partner,
- and -
ROYAL BANK OF CANADA,
as Administrative Agent of the Lenders, and as Lender,
- and -
THE LENDERS PARTY HERETO,
as Lenders

LEGAL_1:39860452.1 

THIRD AMENDING AGREEMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT, dated as of July 8, 2016, among AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P., as Borrower, AltaLink Investment Management Ltd., as General Partner, Royal Bank of Canada, as Agent of the Lenders (the “Agent”), and the Lenders party hereto.
RECITALS
WHEREAS AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P., as Borrower, Royal Bank of Canada, as Agent of the Lenders, and the Lenders are parties to an Amended and Restated Credit Agreement made as of July 30, 2015 as amended by a first amending agreement dated as of November 20, 2015 and as further amended by a second amending agreement dated as of December 14, 2015 (collectively, the “Original Credit Agreement”);
AND WHEREAS the Borrower, the General Partner, the Lenders and the Agent have agreed to amend certain provisions of the Original Credit Agreement in the manner and on the terms and conditions provided for herein.
NOW THEREFORE for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
		
	1.1
	Definitions

All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Original Credit Agreement.
ARTICLE 2
AMENDMENT
		
	2.1
	Amendment to Definition of Applicable Margin.  The parties hereto confirm that the definition of “Applicable Margin” in the Original Credit Agreement shall be amended by deleting the grid contained in such Section and replacing it with the following:

	
								
	Ratings
	Category I
	Category II
	Category III
	Category IV
	Category V
	Category VI
	Category VII

	S & P and DBRS
	>A / A
	A / A
	A- / A (low)
	BBB+ / BBB (high)
	BBB / BBB
	BBB- /
BBB(low)
	< BBB- / BBB(low) / unrated

	Applicable Margin for Bankers’ Acceptances, LIBOR Loans & Documentary Credits
	70 bps
	80 bps
	100 bps
	120 bps
	145 bps
	170 bps
	200 bps

	Applicable Margin for Prime Rate Loans and US Base Rate Loans
	0 bps
	0 bps
	0 bps
	20 bps
	45 bps
	70 bps
	100 bps

	Commitment Fee
	14.0 bps
	16.0 bps
	20.0 bps
	24.0 bps
	29 bps
	34 bps
	40 bps

LEGAL_1:39860452.1

- 2 -

ARTICLE 3
CONDITIONS PRECEDENT
		
	3.1
	Conditions Precedent

This Third Amending Agreement shall become effective when:
		
	(a) 
	the Agent shall have received an executed copy of this Third Amending Agreement from each of the Agent, the Lenders, the Borrower and the General Partner; and

		
	(b) 
	no Event of Default shall have occurred and be continuing.

The conditions set forth above are inserted for the sole benefit of the Lenders and may be waived by the Lenders in whole or in part, with or without terms or conditions.
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
		
	4.1
	Representations and Warranties True and Correct; No Default or Event of Default

The Borrower and General Partner each hereby represents and warrants to the Agent and the Lenders that after giving effect to this Third Amending Agreement, (i) each of the representations and warranties of the Borrower and the General Partner, as the case may be, contained in the Original Credit Agreement and each of the other Loan Documents is true and correct on, and as of the date hereof as if made on such date (except to the extent that such representation or warranty expressly relates to an earlier date and except for changes therein expressly permitted or expressly contemplated by the Original Credit Agreement), and (ii) no event has occurred and is continuing which constitutes or would constitute a Default or an Event of Default.
ARTICLE 5
MISCELLANEOUS
		
	5.1
	No Other Amendments, Waivers or Consents

Except as expressly set forth herein, the Original Credit Agreement and all Loan Documents shall be unmodified and shall continue to be in full force and effect in accordance with their terms.
		
	5.2
	Time

Time is of the essence in the performance of the parties’ respective obligations in this Third Amending Agreement.
		
	5.3
	Governing Law

This Third Amending Agreement is a contract made under, and shall be governed by and construed in accordance with, the laws of the Province of Alberta and the federal laws of Canada applicable therein.

LEGAL_1:39860452.1

- 3 -

		
	5.4
	Successors and Assigns

This Third Amending Agreement shall enure to the benefit of, and be binding upon, the parties hereto and their respective successors and any assigns, transferees and endorsees of the Agent or any Lender.  Nothing in this Third Amending Agreement, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under the Original Credit Agreement, as amended by this Third Amending Agreement.
		
	5.5
	Counterparts

This Third Amending Agreement may be executed by the parties hereto in counterparts and may be delivered by facsimile or other electronic means (including via electronic mail in portable document format) and all such counterparts shall together constitute one and the same agreement.
[Remainder of page intentionally left blank – signature pages follow]

LEGAL_1:39860452.1

The parties hereto have duly executed this Third Amending Agreement as of the date set forth on the first page of this Agreement.
	
				
	 
	 
	ALTALINK INVESTMENT MANAGEMENT LTD.,
in its capacity as General Partner of ALTALINK INVESTMENTS, L.P.

	By:
	/s/ Jeffrey A. Austin

	 
	Name:  Jeffrey A. Austin

	 
	Title:    Director

	By:
	/s/ Calvin Haack

	 
	Name: Calvin D. Haack

	 
	Title:    Director

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ALTALINK INVESTMENT MANAGEMENT LTD.

	By:
	/s/ Jeffrey A. Austin

	 
	Name:   Jeffrey A. Austin

	 
	Title:    Director

	By:
	/s/ Calvin Haack

	 
	Name:   Calvin D. Haack

	 
	Title:    Director

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ROYAL BANK OF CANADA, 
as Agent

	By:
	/s/ Yvonne Brazier

	 
	Name: Yvonne Brazier

	 
	Title:   Managing Agency

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ROYAL BANK OF CANADA, 
as Lender

	By:
	/s/ Timothy Murray

	 
	Name: Timothy P. Murray

	 
	Title:   Authorized Signatory

	 
	 
	By:
	 

	 
	 
	 
	Name:

	 
	 
	 
	Title:

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	BANK OF MONTREAL, 
as Lender

	By:
	/s/ Carol McDonald

	 
	Name: Carol McDonald

	 
	Title:   Director

	 
	 
	By:
	 

	 
	 
	 
	Name:

	 
	 
	 
	Title:

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	ALBERTA TREASURY BRANCHES,
as Lender

	By:
	/s/ Trevor Guinard

	 
	Name: Trevor Guinard

	 
	Title:   Director

	 
	 
	By:
	/s/ Evan Hahn

	 
	 
	 
	Name: Evan Hahn

	 
	 
	 
	Title:   Associate Director

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	BANK OF NOVA SCOTIA, 
as Lender

	By:
	/s/ Bradley Walker

	 
	Name: Bradley Walker

	 
	Title:   Director

	 
	 
	By:
	/s/ Matthew Hartnoll

	 
	 
	 
	Name: Matthew Hartnoll

	 
	 
	 
	Title:   Director

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

	
				
	 
	 
	NATIONAL BANK OF CANADA, 
as Lender

	By:
	/s/ Mark Williamson

	 
	Name: Mark Williamson

	 
	Title: Authorized Signatory

	 
	 
	By:
	/s/ John Niedermier

	 
	 
	 
	Name: John Niedermier

	 
	 
	 
	Title:   Authorized Signatory

AltaLink – Third Amending Agreement to Amended and Restated Credit Agreement

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