Document:

Exhibit

EXHIBIT 10.14

Execution Version

SECOND AMENDING AGREEMENT TO 
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

dated as of December 14, 2017
 
ALTALINK, L.P.
as Borrower
 - and -
ALTALINK MANAGEMENT LTD.
as General Partner
- and -
THE BANK OF NOVA SCOTIA
as Administrative Agent of the Lenders, Co-Lead Arranger and Co-Bookrunner
- and -
ROYAL BANK OF CANADA 
as Syndication Agent, Co-Lead Arranger and Co-Bookrunner
- and -
BANK OF MONTREAL AND NATIONAL BANK OF CANADA 
as Co-Documentation Agents
- and -
THE BANK OF NOVA SCOTIA, ROYAL BANK OF CANADA, BANK OF MONTREAL, NATIONAL BANK OF CANADA, THE TORONTO-DOMINION BANK AND ALBERTA TREASURY BRANCHES,
as Lenders

 

 

 

SECOND AMENDING AGREEMENT TO THE FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 14, 2017 among AltaLink, L.P., as Borrower, AltaLink Management Ltd., as General Partner, The Bank of Nova Scotia as Administrative Agent of the Lenders (the “Administrative Agent”), Co-Lead Arranger and Co-Bookrunner, Royal Bank of Canada as Syndication Agent, Co-Lead Arranger and Co-Bookrunner, Bank of Montreal and National Bank of Canada as Co-Documentation Agents and each of The Bank of Nova Scotia, Royal Bank of Canada, Bank of Montreal, National Bank of Canada, The Toronto-Dominion Bank and Alberta Treasury Branches, as Lenders.
	
	
	RECITALS

WHEREAS AltaLink Management Ltd., in its capacity as general partner of AltaLink, L.P., as Borrower, the Administrative Agent and the other parties hereto are parties to a Fourth Amended and Restated Credit Agreement made as of December 17, 2015 as amended by a First Amending Agreement dated as of December 15, 2016 (the “Credit Agreement”);
AND WHEREAS the Borrower, the General Partner, the Administrative Agent and the Lenders have agreed to amend certain provisions of the 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 Credit Agreement.
	
	
	ARTICLE 2

	AMENDMENTS

2.1    Amendments to Credit Agreement
The Credit Agreement is hereby amended as follows:
(a)    The definition of “Maturity Date” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the reference to “December 14, 2018” and replacing it with “December 13, 2019”;
(b)    The definition of “Revolving Period” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the reference to “December 14, 2017” and replacing it with “December 13, 2018”; and

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(c)    The definition of “Fee Letter” contained in Section 1.1 of the Credit Agreement is deleted in its entirety and replaced with the following:
“Fee Letter” means the second amended and restated fee letter entered into between BNS, the Borrower and the General Partner dated December 14, 2017, as such fee letter may be amended, restated supplemented or otherwise modified from time to time.

	
	
	ARTICLE 3

	CONDITIONS PRECEDENT

3.1    Conditions Precedent
This Amending Agreement shall become effective if and when:
(a)    the Administrative Agent shall have received this Amending Agreement duly executed and delivered by the Administrative Agent, the Lenders, the Borrower and the General Partner;
(b)    no Event of Default shall have occurred and be continuing; and
(c)    the Borrower shall have paid all fees and expenses in connection with this Amending Agreement including those set out in the Fee Letter.
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 Administrative Agent and the Lenders that after giving effect to this  Amending Agreement, (i) each of the representations and warranties of the Borrower and the General Partner, as the case may be, contained in the Credit Agreement and each of the other Credit 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 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 Credit Agreement and all Credit Documents shall be unmodified and shall continue to be in full force and effect in accordance with their terms.  The 

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execution, delivery and effectiveness of the waiver and amendments in this Amending Agreement shall not be deemed to be a waiver of compliance in the future or a waiver of any preceding or succeeding breach of any covenant or provision of the Credit Agreement.
5.2    Time
Time is of the essence in the performance of the parties’ respective obligations in this Amending Agreement.
5.3    Governing Law
This 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 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 Administrative Agent or any Lender.  Nothing in this 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 this Amending Agreement.
5.5    Counterparts
This Amending Agreement may be executed by the parties hereto in counterparts and may be executed and delivered by facsimile or other electronic means and all such counterparts and facsimiles shall together constitute one and the same agreement.
[Remainder of page intentionally left blank – signature pages follow]

IN WITNESS OF WHICH the parties hereto have duly executed this Amending Agreement as of the date set forth on the first page of this Agreement.

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

	By:
	/s/ Chris Lomore

	 
	Name:    Chris Lomore

	 
	Title:    V.P. Treasurer

	 
	 

	By:
	/s/ David Koch

	 
	Name:    David Koch

	 
	Title:    Executive Vice President & CFO

	
				
	 
	 
	ALTALINK MANAGEMENT LTD.

	By:
	/s/ Chris Lomore

	 
	Name:    Chris Lomore

	 
	Title:    V.P. Treasurer

	 
	 

	By:
	/s/ David Koch

	 
	Name:    David Koch

	 
	Title:    Executive Vice President & CFO

AltaLink – Second Amending Agreement to Fourth Amended and Restated Credit Agreement

	
				
	 
	 
	THE BANK OF NOVA SCOTIA, as Administrative Agent, Co-Lead Arranger and Co-Bookrunner

	By:
	/s/ Clement Yu

	 
	Name: Clement Yu

	 
	Title: Director

	 
	 

	By:
	/s/ Ryan Moonilal

	 
	Name: Ryan Moonilal

	 
	Title: Analyst

	
				
	 
	 
	THE BANK OF NOVA SCOTIA, as Lender

	By:
	/s/ Bradley Walker

	 
	Name: Bradley Walker

	 
	Title: Director

	 
	 

	By:
	/s/ Mathieu Leroux

	 
	Name: Mathieu Leroux

	 
	Title: Associate Director

AltaLink – Second Amending Agreement to Fourth Amended and Restated Credit Agreement

	
				
	 
	 
	ROYAL BANK OF CANADA, as Syndication Agent, Co-Lead Arranger, and Co-Bookrunner

	By:
	/s/ Timothy P. Murray

	 
	Timothy P. Murray

	 
	Authorized Signatory

	
				
	 
	 
	ROYAL BANK OF CANADA, as Lender

	By:
	/s/ Timothy P. Murray

	 
	Timothy P. Murray

	 
	Authorized Signatory

AltaLink – Second Amending Agreement to Fourth Amended and Restated Credit Agreement

	
				
	 
	 
	BANK OF MONTREAL, as Co-Documentation Agent

	By:
	/s/ Carol McDonald

	 
	Name: Carol McDonald

	 
	Title: Director

	 
	 

	By:
	 

	 
	Name:

	 
	Title:

	
				
	 
	 
	BANK OF MONTREAL, 
as Lender

	By:
	/s/ Carol McDonald

	 
	Name: Carol McDonald

	 
	Title: Director

	 
	 

	By:
	 

	 
	Name:

	 
	Title:

AltaLink – Second Amending Agreement to Fourth Amended and Restated Credit Agreement

	
				
	 
	 
	NATIONAL BANK OF CANADA, as Co-Documentation Agent

	By:
	/s/ James Dexter

	 
	Name: James Dexter

	 
	Title: VP, CCM - Calgary

	 
	 

	By:
	/s/ Mark Williamson

	 
	Name: Mark Williamson

	 
	Title: MD & Head, CCM - Calgary

	
				
	 
	 
	NATIONAL BANK OF CANADA, 
as Lender

	By:
	/s/ James Dexter

	 
	Name: James Dexter

	 
	Title: VP, CCM - Calgary

	 
	 

	By:
	/s/ Mark Williamson

	 
	Name: Mark Williamson

	 
	Title: MD & Head, CCM - Calgary

AltaLink – Second Amending Agreement to Fourth Amended and Restated Credit Agreement

	
				
	 
	 
	THE TORONTO-DOMINION BANK, as Lender

	By:
	/s/ Hassan Abbas

	 
	Name: Hassan Abbas

	 
	Title: Vice President

	 
	 

	By:
	/s/ Matthew Hendel

	 
	Name: Matthew Hendel

	 
	Title: Managing Director

AltaLink – Second Amending Agreement to Fourth 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 – Second Amending Agreement to Fourth Amended and Restated Credit AgreementExhibit

EXHIBIT 10.17

Execution Version

SECOND AMENDING AGREEMENT TO 
THIRD AMENDED AND RESTATED CREDIT AGREEMENT

dated as of December 14, 2017
 
ALTALINK, L.P.
as Borrower
 - and -
ALTALINK MANAGEMENT LTD.
as General Partner
- and -
THE BANK OF NOVA SCOTIA
as Agent of the Lenders, and as Lender

 

SECOND AMENDING AGREEMENT TO THE THIRD AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 14, 2017 among AltaLink, L.P., as Borrower, AltaLink Management Ltd., as General Partner, The Bank of Nova Scotia as Agent of the Lenders (the “Agent”) and as a lender and all other lenders which become party thereto.
	
	
	RECITALS

WHEREAS AltaLink Management Ltd., in its capacity as general partner of AltaLink, L.P., as Borrower, the Agent and the other parties hereto are parties to a Third Amended and Restated Credit Agreement made as of December 17, 2015 as amended by a First Amending Agreement dated as of December 15, 2016 (the “Credit Agreement”);
AND WHEREAS the Borrower, the General Partner, the Agent and the Lenders have agreed to amend certain provisions of the 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 Credit Agreement.
	
	
	ARTICLE 2

	AMENDMENTS

2.1    Amendments to Credit Agreement
The Credit Agreement is hereby amended as follows:
(a)    The definition of “Maturity Date” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the reference to “December 14, 2018” and replacing it with “December 13, 2019”; and
(b)    The definition of “Revolving Period” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the reference to “December 14, 2017” and replacing it with “December 13, 2018”.

- 2 -

	
	
	ARTICLE 3

	CONDITIONS PRECEDENT

3.1    Conditions Precedent
This Amending Agreement shall become effective if and when:
(a)    the Agent shall have received this Amending Agreement duly executed and delivered by the Agent, the Lenders, the Borrower and the General Partner;
(b)    no Event of Default shall have occurred and be continuing; and
(c)    the Borrower shall have paid all fees and expenses in connection with this Amending Agreement including an extension fee of Cdn.$30,000 payable to the Agent.
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  Amending Agreement, (i) each of the representations and warranties of the Borrower and the General Partner, as the case may be, contained in the Credit Agreement and each of the other Credit 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 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 Credit Agreement and all Credit Documents shall be unmodified and shall continue to be in full force and effect in accordance with their terms.  The execution, delivery and effectiveness of the waiver and amendments in this Amending Agreement shall not be deemed to be a waiver of compliance in the future or a waiver of any preceding or succeeding breach of any covenant or provision of the Credit Agreement.
5.2    Time
Time is of the essence in the performance of the parties’ respective obligations in this Amending Agreement.

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5.3    Governing Law
This 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 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 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 this Amending Agreement.
5.5    Counterparts
This Amending Agreement may be executed by the parties hereto in counterparts and may be executed and delivered by facsimile or other electronic means and all such counterparts and facsimiles shall together constitute one and the same agreement.
[Remainder of page intentionally left blank – signature pages follow]

IN WITNESS OF WHICH the parties hereto have duly executed this Amending Agreement as of the date set forth on the first page of this Agreement.

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

	By:
	/s/ Chris Lomore

	 
	Name:    Chris Lomore

	 
	Title:    V.P. Treasurer

	 
	 

	By:
	/s/ David Koch

	 
	Name:    David Koch

	 
	Title:    Executive Vice President & CFO

	
				
	 
	 
	ALTALINK MANAGEMENT LTD.

	By:
	/s/ Chris Lomore

	 
	Name:    Chris Lomore

	 
	Title:    V.P. Treasurer

	 
	 

	By:
	/s/ David Koch

	 
	Name:    David Koch

	 
	Title:    Executive Vice President & CFO

AltaLink (Bilateral) – Second Amending Agreement to Third Amended and Restated Credit Agreement

	
				
	 
	 
	THE BANK OF NOVA SCOTIA, as Agent

	By:
	/s/ Clement Yu

	 
	Name: Clement Yu

	 
	Title: Director

	 
	 

	By:
	/s/ Ryan Moonilal

	 
	Name: Ryan Moonilal

	 
	Title: Analyst

	
				
	 
	 
	THE BANK OF NOVA SCOTIA, as Lender

	By:
	/s/ Bradley Walker

	 
	Name: Bradley Walker

	 
	Title: Director

	 
	 

	By:
	/s/ Mathieu Leroux

	 
	Name: Mathieu Leroux

	 
	Title: Associate Director

AltaLink (Bilateral) – Second Amending Agreement to Third Amended and Restated Credit Agreement

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