Document:

Exhibit 4.1

 

EXECUTION VERSION

 

FIRST AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS FIRST AMENDMENT (this “Amendment”), dated as of October 29, 2013, amends and modifies that certain Third Amended and Restated Credit Agreement, dated as of October 29, 2012 (the “Credit Agreement”), among OTTER TAIL CORPORATION (the “Borrower”), U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent (in such capacity, the “Agent”), and the Lenders, as defined therein.  Terms not otherwise expressly defined herein shall have the meanings set forth in the Credit Agreement.

 

FOR VALUE RECEIVED, the Borrower, the Lenders and the Agent agree that the Credit Agreement is amended as follows.

 

ARTICLE I - AMENDMENT

 

1.1           The definition of “Interest Period” appearing in Section 1.1 of the Credit Agreement is hereby amended to delete the phrase “nine or” appearing therein.

 

1.2           The definition of “Termination Date” appearing in Section 1.1 of the Credit Agreement is hereby amended to replace the date “October 29, 2017” with the date “October 29, 2018”.

 

ARTICLE II - REPRESENTATIONS AND WARRANTIES

 

To induce the Agent and the Lenders to enter into this Amendment and to make and maintain the Loans under the Credit Agreement as amended hereby, the Borrower hereby warrants and represents to the Agent and the Lenders that it is duly authorized to execute and deliver this Amendment, and to perform its obligations under the Credit Agreement as amended hereby, and that this Amendment constitutes the legal, valid and binding agreement of the Borrower, enforceable in accordance with its terms.

 

ARTICLE III - CONDITIONS PRECEDENT

 

This Amendment shall become effective on the date first set forth above, provided, however, that the effectiveness of this Amendment is subject to the satisfaction of each of the following conditions precedent:

 

3.1           Warranties.  Before and after giving effect to this Amendment, the representations and warranties in the Credit Agreement shall be true and correct as though made on the date hereof with respect to representations and warranties containing qualifications as to materiality, and true and correct as though made on the date hereof in all material respects with respect to representations and warranties without qualifications as to materiality, except for changes that are permitted by the terms of the Credit Agreement.  The execution by the Borrower of this Amendment shall be deemed a representation that the Borrower has complied with the foregoing condition.

 

    	  

    	 

    
 

 

3.2           Defaults.  Before and after giving effect to this Amendment, no Default and no Event of Default shall have occurred and be continuing under the Credit Agreement.  The execution by the Borrower of this Amendment shall be deemed a representation that the Borrower has complied with the foregoing condition.

 

3.3           Documents.  The Borrower, the Agent and the Lenders shall have executed and delivered this Amendment.

 

3.4           Fees.  The Agent shall have received all fees and other amounts due and payable on or prior to the date hereof, including, without limitation, (i) all fees set forth in that certain Fee Letter by and between the Borrower and the Agent dated as of September 20, 2013 and (ii) to the extent invoiced reasonably in advance, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Credit Agreement.

 

ARTICLE IV - GENERAL

 

4.1           Expenses.  The Borrower agrees to reimburse the Agent upon demand for all reasonable expenses (including reasonable attorneys’ fees and legal expenses) incurred by the Agent in the preparation, negotiation and execution of this Amendment and any other document required to be furnished herewith.

 

4.2           Counterparts.  This Amendment may be executed in as many counterparts as may be deemed necessary or convenient, and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed an original but all such counterparts shall constitute but one and the same instrument.

 

4.3           Severability.  Any provision of this Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or enforceability of such provisions in any other jurisdiction.

 

4.4           Governing Law.  This Amendment shall be a contract made under the laws of the State of Minnesota, which laws shall govern all the rights and duties hereunder.

 

4.5           Successors; Enforceability.  This Amendment shall be binding upon the Borrower, the Agent and the Lenders and their respective successors and assigns, and shall inure to the benefit of the Borrower, the Agent and the Lenders and the successors and assigns of the Agent and the Lenders.  Except as hereby amended, the Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed in all respects.

 

    	2

    	 

    
 

 

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

 

	 	
OTTER TAIL CORPORATION

	 
	 	 	 	 
	 	By:	/s/ Kevin G. Moug
	 	 	 	 
	 	Title:	Chief Financial Officer
	 	 	 	 
	 	4334 18th Avenue South	 
	 	Suite 200	 
	 	Fargo, North Dakota 58103	 
	 	Attention:	Mr. Kevin G. Moug,	 
	 	 	Chief Financial Officer	 
	 	Telephone:  (701) 451-3562	 
	 	Fax:  (701) 232-4108	 

  

(Signature Page to First Amendment to Otter Tail Corporation Credit Agreement)

 

    	 

    	 

    
 

 

	 	
U.S. BANK NATIONAL ASSOCIATION,

	 
	 	

as Agent and a Bank

	 
	 	 	 	 
	 	By:	/s/ Jacquelyn Ness
	 	 	 	 
	 	Title:	Vice President
	 	 	 	 
	 	
505 Second Avenue North

	 
	 	
Mail Code EP-ND-0630

	 
	 	
Fargo, ND 58102

	 
	 	

Attention:  Jacquelyn Ness, Vice President

	 
	 	

Telephone:  (701) 280-3655

	 
	 	
Fax:  (701) 280-3580

	 

 

(Signature Page to First Amendment to Otter Tail Corporation Credit Agreement)

 

    	 

    	 

    
 

 

	 	
BANK OF AMERICA, N.A., as Co-Syndication 

Agent and as a Bank

	 
	 	 	 	 
	 	By:	/s/ A. Quinn Richardson
	 	 	 	 
	 	Title:	Senior Vice President
	 	 	 	 
	 	IL-4135-07-65	 
	 	135 S. LaSalle Street	 
	 	Chicago, IL  60603	 
	 	Attention:	A. Quinn Richardson	 
	 	 	Senior Vice President	 
	 	Telephone:  (312) 992-2160	 
	 	Fax:  (312) 904-6546	 

(Signature Page to First Amendment to Otter Tail Corporation Credit Agreement)

 

    	 

    	 

    
 

 

	 	
JPMORGAN CHASE BANK, N.A., as Co-

Syndication Agent and as a Bank

	 
	 	 	 	 
	 	By:	/s/ Justin Martin
	 	 	 	 
	 	Title:	Authorized Officer
	 	 	 	 
	 	
10 South Dearborn, 9th Floor, IL1-0090

	 
	 	
Chicago, IL  60603

	 
	 	
Attention:  Justin Martin

	 
	 	

Telephone:  (312) 732-4441

	 
	 	
Fax:  (312) 732-1762

	 

(Signature Page to First Amendment to Otter Tail Corporation Credit Agreement)

 

    	 

    	 

    
 

 

	 	
KEYBANK NATIONAL ASSOCIATION, as 

Documentation Agent and as a Bank

	 
	 	 	 	 
	 	By:	/s/ Keven D. Smith
	 	 	 	 
	 	Title:	Senior Vice President
	 	 	 	 
	 	
601 108th Avenue N.E.

	 
	 	
Mail Code:  WA-31-18-0314

	 
	 	
Bellevue, WA  98004

	 
	 	Attention:	Keven D. Smith	 
	 	Telephone:	(425) 709-4579	 
	 	
Fax:  (425) 709-4348

	 

(Signature Page to First Amendment to Otter Tail Corporation Credit Agreement)

 

    	 

    	 

    
 

 

	 	
BANK OF THE WEST, a California Banking 

Corporation, as a Bank

	 
	 	 	 	 
	 	By:	/s/ David Wang 
	 	 	 	 
	 	Title:	Vice President
	 	 	 	 
	 	
250 Marquette Ave., Suite 575

	 
	 	
Minneapolis, MN  55401

	 
	 	
Attention:   David Wang

	 
	 	
Telephone:  (612) 339-1403

	 
	 	

Fax:  (612) 339-6362

	 

 

(Signature Page to First Amendment to Otter Tail Corporation Credit Agreement)

 

    	 

    	 

    
 

 

	 	
UNION BANK, N.A., as a Bank

	 
	 	 	 	 
	 	By:	/s/ Harvey Horowitz
	 	 	 	 
	 	Title:	VP	 
	 	 	 	 
	 	
Energy Capital Services

	 
	 	
445 South Figueroa Street, 15th Floor

	 
	 	
Los Angeles, CA  90071

	 
	 	

Attention:   Harvey Horowitz

	 
	 	

Telephone:  212-236-6585

	 
	 	
Fax:  213-236-4096

	 

                 

(Signature Page to First Amendment to Otter Tail Corporation Credit Agreement)Exhibit 4.2

 

EXECUTION VERSION

 

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS FIRST AMENDMENT (this "Amendment"), dated as of October 29, 2013, amends and modifies that certain Second Amended and Restated Credit Agreement, dated as of October 29, 2012 (the "Credit Agreement"), among OTTER TAIL POWER COMPANY (the "Borrower"), U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent (in such capacity, the "Agent"), and the Lenders, as defined therein.  Terms not otherwise expressly defined herein shall have the meanings set forth in the Credit Agreement.

 

FOR VALUE RECEIVED, the Borrower, the Lenders and the Agent agree that the Credit Agreement is amended as follows.

 

ARTICLE I - AMENDMENT

 

1.1           The definition of “Interest Period” appearing in Section 1.1 of the Credit Agreement is hereby amended to delete the phrase “nine or” appearing therein.

 

1.2           The definition of “Termination Date” appearing in Section 1.1 of the Credit Agreement is hereby amended to replace the date “October 29, 2017” with the date “October 29, 2018”.

 

ARTICLE II - REPRESENTATIONS AND WARRANTIES

 

To induce the Agent and the Lenders to enter into this Amendment and to make and maintain the Loans under the Credit Agreement as amended hereby, the Borrower hereby warrants and represents to the Agent and the Lenders that it is duly authorized to execute and deliver this Amendment, and to perform its obligations under the Credit Agreement as amended hereby, and that this Amendment constitutes the legal, valid and binding agreement of the Borrower, enforceable in accordance with its terms.

 

ARTICLE III - CONDITIONS PRECEDENT

 

This Amendment shall become effective on the date first set forth above, provided, however, that the effectiveness of this Amendment is subject to the satisfaction of each of the following conditions precedent:

 

3.1           Warranties.  Before and after giving effect to this Amendment, the representations and warranties in the Credit Agreement shall be true and correct as though made on the date hereof with respect to representations and warranties containing qualifications as to materiality, and true and correct as though made on the date hereof in all material respects with respect to representations and warranties without qualifications as to materiality, except for changes that are permitted by the terms of the Credit Agreement.  The execution by the Borrower of this Amendment shall be deemed a representation that the Borrower has complied with the foregoing condition.

 

    	  

    	 

    
 

 

3.2           Defaults.  Before and after giving effect to this Amendment, no Default and no Event of Default shall have occurred and be continuing under the Credit Agreement.  The execution by the Borrower of this Amendment shall be deemed a representation that the Borrower has complied with the foregoing condition.

 

3.3           Documents.  The Borrower, the Agent and the Lenders shall have executed and delivered this Amendment.

 

3.4           Fees.  The Agent shall have received all fees and other amounts due and payable on or prior to the date hereof, including, without limitation, (i) all fees set forth in that certain Fee Letter by and between the Borrower and the Agent dated as of September 20, 2013 and (ii) to the extent invoiced reasonably in advance, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Credit Agreement.

 

ARTICLE IV - GENERAL

 

4.1           Expenses.  The Borrower agrees to reimburse the Agent upon demand for all reasonable expenses (including reasonable attorneys' fees and legal expenses) incurred by the Agent in the preparation, negotiation and execution of this Amendment and any other document required to be furnished herewith.

 

4.2           Counterparts.  This Amendment may be executed in as many counterparts as may be deemed necessary or convenient, and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed an original but all such counterparts shall constitute but one and the same instrument.

 

4.3           Severability.  Any provision of this Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or enforceability of such provisions in any other jurisdiction.

 

4.4           Governing Law.  This Amendment shall be a contract made under the laws of the State of Minnesota, which laws shall govern all the rights and duties hereunder.

 

4.5           Successors; Enforceability.  This Amendment shall be binding upon the Borrower, the Agent and the Lenders and their respective successors and assigns, and shall inure to the benefit of the Borrower, the Agent and the Lenders and the successors and assigns of the Agent and the Lenders.  Except as hereby amended, the Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed in all respects.

 

    	2

    	 

    
 

 

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

 

	 	

OTTER TAIL POWER COMPANY

	 	 	 
	
 

	
By: 

	/s/ Kevin G. Moug

	 	 	 
	 	Title:	          Treasurer
	 	 	 
	 	4334 18th Avenue South
	 	Suite 200
	 	Fargo, North Dakota 58103

	 	Attention:	Mr. Kevin G. Moug,
	 	 	Treasurer
	 	Telephone:  (701) 451-3562
	 	Fax:  (701) 232-4108

                    

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

 

    	 

    	 

    
 

 

	 	

U.S. BANK NATIONAL ASSOCIATION,

as Agent and a Bank

	 	 	 
	
 

	
By: 

	/s/ Jacquelyn Ness

	 	 	 
	 	Title:	          Vice President
	 	 	 
	 	

505 Second Avenue North

Mail Code EP-ND-0630

Fargo, ND 58102

Attention:  Jacquelyn Ness, Vice President

Telephone:  (701) 280-3655

Fax:  (701) 280-3580

 

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

 

    	  

    	 

    
 

 

 

 

	 	

JPMORGAN CHASE BANK, N.A., as a Co-

Syndication Agent and as a Bank

	 	 	 
	
 

	
By: 

	/s/ Justin Martin
	 	 	 
	 	Title: 	Authorized Officer

	 	 	 
	 	
10 South Dearborn, 9th Floor, IL1-0090

Chicago, IL 60603

Attention:  Justin Martin

Telephone:  (312) 732-4441

Fax:  (312) 732-1762

 

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

 

    	  

    	 

    
 

 

	 	

BANK OF AMERICA, N.A., as Co-Syndication 

Agent and as a Bank

	 	 	 
	
 

	
By: 

	/s/ A. Quinn Richardson

	 	 	 
	 	Title:	 Senior Vice President
	 	 	 
	 	

IL-4135-07-65

135 S. LaSalle Street

Chicago, IL  60603

	 	Attention:	

A. Quinn Richardson

Senior Vice President

	 	Telephone:  (312) 992-2160
	 	Fax:  (312) 904-6546

 

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

 

    	  

    	 

    
 

 

	 	

KEYBANK NATIONAL ASSOCIATION, as 

Documentation Agent and as a Bank

	 	 	 
	
 

	
By: 

	/s/ Keven D. Smith

	 	 	 
	 	Title:	Senior Vice President
	 	 	 
	 	

601 108th Avenue N.E.

Mail Code:  WA-31-18-0314

Bellevue, WA  98004

	 	Attention:	

Keven D. Smith

	 	Telephone:	(425) 709-4579 
	 	Fax:  (425) 709-4348

 

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

 

    	  

    	 

    
 

 

	 	

WELLS FARGO BANK, NATIONAL

ASSOCIATION, as a Bank

	 	 	 
	
 

	
By: 

	/s/ Nick Brokke

	 	 	 
	 	Title:	Assistant Vice President
	 	 	 
	 	

90 S 7th Street, 7th Floor

MAC:  N9305-070

Minneapolis, MN  55408

	 	Attention:	

Nick Brokke

Assistant Vice President

	 	Tel:  612-667-6637
	 	Fax:  612-316-0506

 

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

 

    	  

    	 

    
 

 

	 	

COBANK, ACB, as a Co-Documentation Agent 

and as a Bank

	 	 	 
	
 

	
By: 

	/s/ John Kemper
	 	 	 
	 	Title: 	Vice President
	 	 	 
	 	

5500 South Quebec St.

Greenwood Village, CO  80111

Attention:  John Kemper

Telephone:  303-740-6576

Fax:  303-224-2615

 

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

 

    	  

    	 

    
 

 

	 	

UNION BANK, N.A., as a Bank

	 	 	 
	
 

	
By: 

	/s/ Harvey Horowitz
	 	 	 
	 	Title: 	VP
	 	 	 
	 	

Energy Capital Services

445 South Figueroa Street, 15th Floor

Los Angeles, CA  90071

Attention:  Harvey Horowitz

Telephone:  212-236-6585

Fax:  213-236-4096

(Signature Page to First Amendment to Otter Tail Power Company Credit Agreement)

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