Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 EIGHTH
AMENDMENT TO CREDIT AGREEMENT 
 THIS EIGHTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is effective as of
October 26, 2020, among PNM RESOURCES, INC., a New Mexico corporation (the “Borrower”), the Lenders party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (in such capacity, the
“Administrative Agent”), with MUFG Bank, Ltd., as the sole bookrunner and lead arranger solely in connection with this Amendment (the “Lead Arranger”). Capitalized terms used herein and not otherwise defined shall
have the meanings assigned thereto in the Credit Agreement (as defined below). 
 R E C I T A L S 

WHEREAS, the Borrower, the Lenders party thereto and the Administrative Agent are parties to that certain Sixth Amendment to and Restatement
of Credit Agreement, dated as of July 30, 2018 (as amended by a Seventh Amendment to Credit Agreement dated December 19, 2018 and as further amended or modified from time to time, the “Credit Agreement”); 

WHEREAS, the Borrower has requested certain modifications to the Credit Agreement as described below; and 

WHEREAS, the Administrative Agent and the Lenders party hereto are willing to agree to such modifications and the other provisions contained
herein, subject to the terms set forth herein as more fully 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: 

A G R E E M E N T 
 1.
Amendment to Credit Agreement. 
 (a) The definition of “Change of Control” in Section 1.1 of
the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 “Change of
Control” means the occurrence of any of the following: (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan
of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules
13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all Capital Stock
that such person or group has the right to acquire (other than pursuant to the Merger Agreement) (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or
indirectly, of twenty-five percent (25%) of the Capital Stock of the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully diluted basis (and taking into account all such securities
that such person or group has the right to acquire pursuant to any 

 option right); or (b) during any period of 24 consecutive months, a majority of the
members of the board of directors or other equivalent governing body of the Borrower cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election
or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or
(iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that
board or equivalent governing body. 
 (b) Section 1.1 of the Credit Agreement is hereby amended to insert the following
new definition alphabetically therein: 
 “Merger Agreement” means that certain Agreement and Plan of
Merger dated October 20, 2020, among Avangrid, Inc., NM Green Holdings, Inc. and the Borrower, as amended, restated or otherwise modified from time to time, but without giving effect to any amendment, waiver or consent that is materially
adverse to the interests of the Lenders in their respective capacities as such without the consent of the Administrative Agent. 

(c) Section 8.2 of the Credit Agreement is hereby amended to delete the phrase “enter into any transaction of merger”
now appearing in clause (a) thereof and to substitute the following therefor: “merge with or into any other Person”. 
 2.
Merger Agreement; Waivers. 
 (a) The Borrower has informed the Administrative Agent and the Lenders that (i) the
Borrower has entered into that certain Agreement and Plan of Merger dated October 20, 2020, among Avangrid, Inc., NM Green Holdings, Inc. and the Borrower (as amended, restated or otherwise modified from time to time, but without giving effect
to any amendment, waiver or consent that is materially adverse to the interests of the Lenders in their respective capacities as such without the consent of the Administrative Agent, the “Merger Agreement”) and (ii) the
entering into of the Merger Agreement is not expressly permitted pursuant to the definition of “Change of Control” or Section 8.2(a) of the Credit Agreement and an Event of Default could be construed to have occurred and be continuing
pursuant to Sections 9.1(c) and 9.1(i) of the Credit Agreement (the “Potential Covenant Defaults”). In addition, other Defaults or Events of Default may have occurred and be continuing pursuant to Section 9.1(f)(ii) as a result
of any cross-default arising thereunder from the entering into of the Merger Agreement pursuant to the terms of any other Indebtedness (the “Potential Cross Defaults”; and together with the Potential Covenant Defaults, and any other
Default or Event of Default which may have occurred solely as a result of the Borrower’s entering into the Merger Agreement, the “Potential Specified Defaults”). 

(b) The Borrower has requested that the Administrative Agent and the Lenders waive each of the Potential Specified Defaults
pursuant to Section 11.6 of the Credit Agreement. Effective as of the Effective Date (as defined below), and subject to the satisfaction of the conditions precedent set forth in Section 3 below, the Administrative
Agent and the Lenders hereby agree to (i) waive each of the Potential Specified Defaults and (ii) waive any interest or fees that may have accrued at the post-Default rate pursuant to Section 3.1(b) of the Credit Agreement prior to
the date hereof solely in connection with each of the Potential Specified Defaults. 
 (c) The Borrower acknowledges and
agrees that the closing of the transactions described in the Merger Agreement shall constitute a “Change of Control” under the Credit Agreement and shall be prohibited pursuant to the terms of Section 8.2(a) of the Credit Agreement,
as amended by this Amendment, and nothing contained in this Section 2 or elsewhere in this Amendment is intended to waive or limit or should be construed as waiving or limiting the Lenders’ rights and remedies relating to any Default or
Event of Default resulting therefrom. 

  
 2 

 (d) The waivers set forth above shall be limited precisely as written and
relate solely to the Potential Specified Defaults in the manner and to the extent described above, and nothing in this Amendment shall be deemed to (i) constitute a waiver of compliance by the Borrower with respect to any other term, provision
or condition of the Credit Agreement, any other Credit Document or any other instrument or agreement referred to therein or (ii) prejudice any right or remedy that the Administrative Agent or the Lenders may now have or may have in the future
under or in connection with the Credit Agreement, any other Credit Document or any other instrument or agreement referred to therein. For the avoidance of doubt, none of the Administrative Agent or the Lenders is hereby waiving, or agreeing to waive
in the future, any other Default or Event of Default under the Credit Agreement. Nothing herein shall be construed to require the Administrative Agent or the Lenders to grant (or consent to) any future or additional waiver of any event under or in
connection with the Credit Agreement or the transactions contemplated thereby. 
 3. Effectiveness. 

This Amendment shall be effective as of the date hereof (the “Effective Date”) upon satisfaction of the following conditions
precedent: 
 (a) Receipt by the Administrative Agent and the Lead Arranger of copies of this Amendment duly executed by the
Borrower and the Required Lenders. 
 (b) The Borrower shall have paid to the Administrative Agent and Lead Arranger, as
applicable, all fees and expenses due and payable to the Administrative Agent, the Lenders and the Lead Arranger on the date hereof. 
 4.
Ratification of Credit Agreement. The term “Credit Agreement” as used in each of the Credit Documents shall hereafter mean the Credit Agreement as amended and modified by this Amendment. Except as herein specifically agreed, the
Credit Agreement, as amended by this Amendment, is hereby ratified and confirmed and shall remain in full force and effect according to its terms. Each party hereto acknowledges and consents to the modifications set forth herein and agrees that,
other than as explicitly set forth in Sections 1 and 2 above, this Amendment does not impair, reduce or limit any of its obligations under the Credit Documents (including, without limitation, the indemnity obligations set forth therein) and
that, after the date hereof, this Amendment shall constitute a Credit Document. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any
Lender or the Administrative Agent under any of the Credit Documents or constitute a waiver of any provision of any of the Credit Documents. 

5. Authority/Enforceability. The Borrower represents and warrants as follows: 

(a) It has taken all necessary action to authorize the execution, delivery and performance of this Amendment. 

(b) This Amendment has been duly executed and delivered by the Borrower and constitutes the Borrower’s legal, valid and
binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’
rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 

  
 3 

 (c) 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 the Borrower of this Amendment, or, if required, any such consent, approval, authorization, order,
filing, registration or qualification has been previously obtained or made. 
 6. Representations and Warranties. The Borrower
represents and warrants to the Lenders that (a) the representations and warranties of the Borrower set forth in Section 6 of the Credit Agreement are true and correct in all material respects (except to the extent that any such
representation and warranty that is qualified by materiality, Material Adverse Effect or Material Adverse Change shall be true and correct in all respects) as of the date hereof, unless they specifically refer to an earlier date, except that all
references in Section 6.7 of the Credit Agreement to December 31, 2017 shall be changed to December 31, 2019 for purposes hereof, (b) after giving effect to this Amendment, no event has occurred and is continuing which
constitutes a Default or an Event of Default, and (c) it has no claims, counterclaims, offsets, credits or defenses to its obligations under the Credit Documents, or to the extent it has any, they are hereby released in consideration of the
Lenders party hereto entering into this Amendment. 
 7. No Conflicts. The Borrower represents and warrants that the execution and
delivery of this Amendment, the consummation of the transactions contemplated herein and in the Credit Agreement (before and after giving effect to this Amendment), and the performance of and compliance with the terms and provisions hereof by the
Borrower will not (a) violate, contravene or conflict with any provision of its articles or certificate of incorporation, bylaws or other organizational or governing document, (b) violate, contravene or conflict with any law, rule,
regulation (including, without limitation, Regulation U and Regulation X), order, writ, judgment, injunction, decree or permit applicable to the Borrower, (c) violate, contravene or conflict with contractual provisions of, or cause an event of
default under, any indenture, loan agreement, mortgage, deed of trust, contract or other agreement or instrument to which the Borrower is a party or by which it or its properties may be bound, the violation of which would have or would reasonably be
expected to have a Material Adverse Effect or (d) result in or require the creation of any Lien upon or with respect to the Borrower’s properties. 

8. Counterparts/Telecopy. This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts,
including both paper and electronic counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the same force and effect as manual
signatures delivered in person. This Amendment may be executed using Electronic Signatures (including, without limitation, facsimile and .pdf) and shall be considered an original, and shall have the same legal effect, validity and enforceability as
a paper record. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Administrative Agent of a manually signed paper hereof which has been converted into electronic form (such
as scanned into PDF format), or an electronically signed communication converted into another format, for transmission, delivery and/or retention. For purposes hereof, “Electronic Signature” shall have the meaning assigned to it by 15 USC
§7006, as it may be amended from time to time. 
 9. GOVERNING LAW. THIS AMENDMENT 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. 
 [remainder of page
intentionally left blank] 

  
 4 

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

 

			
	PNM RESOURCES, INC.,
	a New Mexico corporation

 
			
		
	By:	 	 /s/ Michael P. Mertz

	Name:	 	Michael P. Mertz
	Title:	 	Vice President and Treasurer

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 ADMINISTRATIVE AGENT: 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Administrative Agent, as a Lender and as an L/C Issuer
		
	By:	 	 /s/ Gregory R. Gredvig

	Name:	 	Gregory R. Gredvig
	Title:	 	Director

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 LENDERS: 

 

			
	MUFG UNION BANK, N.A.,
	as a Lender and an L/C Issuer
		
	By:	 	 /s/ Jeffrey P. Fesenmaier

	Name:	 	Jeffrey P. Fesenmaier
	Title:	 	Managing Director

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	CITIBANK, N.A.,
	as a Lender
		
	By:	 	 /s/ Lei Zeng

	Name:	 	Lei Zeng
	Title:	 	Vice President

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	JPMORGAN CHASE BANK, N.A.,
as a Lender
		
	By:	 	/s/ Nancy R. Barwig
	Name:	 	Nancy R. Barwig
	Title:	 	Executive Director

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	 MORGAN STANLEY BANK, N.A.,
 as a
Lender

		
	By:	 	/s/ Julie Hong
	Name:	 	Julie Hong
	Title:	 	Authorized Signatory

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	ROYAL BANK OF CANADA,
as a Lender
		
	By:	 	/s/ Justin Painter
	Name:	 	Justin Painter
	Title:	 	Authorized Signatory

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	KEYBANK NATIONAL ASSOCIATION,
as a Lender
		
	By:	 	/s/ Kevin D. Smith
	Name:	 	Kevin D. Smith
	Title:	 	Senior Vice President

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	 BANK OF AMERICA, N.A.,
 as a
Lender

		
	By:	 	/s/ Scott Blackman
	Name:	 	Scott Blackman
	Title:	 	SVP

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	 U.S. BANK, NATIONAL ASSOCIATION,
 as
a Lender

		
	By:	 	/s/ Joe Horrigan
	Name:	 	Joe Horrigan
	Title:	 	Managing Director

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	 THE BANK OF NEW YORK MELLON,
 as a
Lender

		
	By:	 	/s/ Molly H. Ross
	Name:	 	Molly H. Ross
	Title:	 	Vice President

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENT	  	

 
			
	 BOKF, NA d/b/a BANK OF ALBUQUERQUE,

as a Lender

		
	By:	 	/s/ John Valentine
	Name:	 	John Valentine
	Title:	 	SVP

  

			
		  	PNM RESOURCES, INC.
	EIGHTH AMENDMENTEX-10.2

 Exhibit 10.2 

EXECUTION VERSION 
 SECOND
AMENDMENT TO TERM LOAN AGREEMENT 
 THIS SECOND AMENDMENT TO TERM LOAN AGREEMENT (this “Amendment”) is dated as of
October 26, 2020, among PNM RESOURCES, INC., a New Mexico corporation (the “Borrower”), the Lenders party hereto and MUFG BANK, LTD., as Administrative Agent for the Lenders (in such capacity, the “Administrative
Agent”), with MUFG Bank, Ltd., as the sole bookrunner and lead arranger solely in connection with this Amendment (the “Lead Arranger”). Capitalized terms used herein and not otherwise defined shall have the meanings
assigned thereto in the Loan Agreement (as defined below). 
 R E C I T A L S 

WHEREAS, the Borrower, the Lenders party thereto and the Administrative Agent are parties to that certain Term Loan Agreement, dated as of
December 14, 2018 (as amended by a First Amendment to Term Loan Agreement dated December 13, 2019, and as may be further amended or modified from time to time, the “Loan Agreement”); 

WHEREAS, the Borrower has requested certain modifications to the Loan Agreement as described below; and 

WHEREAS, the Administrative Agent and the Lenders party hereto are willing to agree to such modifications and the other provisions contained
herein, subject to the terms set forth herein as more fully 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: 

A G R E E M E N T 
 1.
Amendment to Loan Agreement. 
 (a) The definition of “Change of Control” in Section 1.1 of the
Loan Agreement is hereby amended and restated in its entirety to read as follows: 
 “Change of Control”
means the occurrence of any of the following: (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or
its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all Capital Stock that such person or group has the right to acquire
(other than pursuant to the Merger Agreement) (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of twenty-five percent (25%) of the Capital
Stock of the Borrower entitled to vote for members of the board of 

 directors or equivalent governing body of the Borrower on a fully diluted basis (and
taking into account all such securities that such person or group has the right to acquire pursuant to any option right); or (b) during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent
governing body of the Borrower cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing
body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or
other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body. 

(b) Section 1.1 of the Loan Agreement is hereby amended to insert the following new definition alphabetically therein: 

“Merger Agreement” means that certain Agreement and Plan of Merger dated October 20, 2020, among
Avangrid, Inc., NM Green Holdings, Inc. and the Borrower, as amended, restated or otherwise modified from time to time, but without giving effect to any amendment, waiver or consent that is materially adverse to the interests of the Lenders in their
respective capacities as such without the consent of the Administrative Agent. 
 (c) Section 8.2 of the Loan Agreement
is hereby amended to delete the phrase “enter into any transaction of merger” now appearing in clause (a) thereof and to substitute the following therefor: “merge with or into any other Person”. 

2. Merger Agreement; Waivers. 

(a) The Borrower has informed the Administrative Agent and the Lenders that (i) the Borrower has entered into that certain
Agreement and Plan of Merger dated October 20, 2020, among Avangrid, Inc., NM Green Holdings, Inc. and the Borrower (as amended, restated or otherwise modified from time to time, but without giving effect to any amendment, waiver or consent
that is materially adverse to the interests of the Lenders in their respective capacities as such without the consent of the Administrative Agent, the “Merger Agreement”) and (ii) the entering into of the Merger Agreement is
not expressly permitted pursuant to the definition of “Change of Control” or Section 8.2(a) of the Loan Agreement and an Event of Default could be construed to have occurred and be continuing pursuant to Sections 9.1(c) and 9.1(i) of
the Loan Agreement (the “Potential Covenant Defaults”). In addition, other Defaults or Events of Default may have occurred and be continuing pursuant to Section 9.1(f)(ii) as a result of any cross-default arising thereunder
from the entering into of the Merger Agreement pursuant to the terms of any other Indebtedness (the “Potential Cross Defaults”; and together with the Potential Covenant Defaults, and any other Default or Event of Default which may
have occurred solely as a result of the Borrower’s entering into the Merger Agreement, the “Potential Specified Defaults”). 

  
 2 

 (b) The Borrower has requested that the Administrative Agent and the Lenders
waive each of the Potential Specified Defaults pursuant to Section 11.6 of the Loan Agreement. Effective as of the Effective Date (as defined below), and subject to the satisfaction of the conditions precedent set forth in
Section 3 below, the Administrative Agent and the Lenders hereby agree to (i) waive each of the Potential Specified Defaults and (ii) waive any interest or fees that may have accrued at the post-Default rate
pursuant to Section 3.1(b) of the Loan Agreement prior to the date hereof solely in connection with each of the Potential Specified Defaults. 

(c) The Borrower acknowledges and agrees that the closing of the transactions described in the Merger Agreement shall
constitute a “Change of Control” under the Loan Agreement and shall be prohibited pursuant to the terms of Section 8.2(a) of the Loan Agreement, as amended by this Amendment, and nothing contained in this Section 2 or elsewhere
in this Amendment is intended to waive or limit or should be construed as waiving or limiting the Lenders’ rights and remedies relating to any Default or Event of Default resulting therefrom. 

(d) The waivers set forth above shall be limited precisely as written and relate solely to the Potential Specified Defaults in
the manner and to the extent described above, and nothing in this Amendment shall be deemed to (i) constitute a waiver of compliance by the Borrower with respect to any other term, provision or condition of the Loan Agreement, any other Loan
Document or any other instrument or agreement referred to therein or (ii) prejudice any right or remedy that the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Loan Agreement, any
other Loan Document or any other instrument or agreement referred to therein. For the avoidance of doubt, none of the Administrative Agent or the Lenders is hereby waiving, or agreeing to waive in the future, any other Default or Event of Default
under the Loan Agreement. Nothing herein shall be construed to require the Administrative Agent or the Lenders to grant (or consent to) any future or additional waiver of any event under or in connection with the Loan Agreement or the transactions
contemplated thereby. 
 3. Effectiveness. This Amendment shall be effective as of the date hereof (the “Effective
Date”); provided that on or before such date the Administrative Agent and the Lead Arranger shall have received: 
  

	 	(a)	 copies of this Amendment duly executed by the Borrower, the Administrative Agent and the Required Lenders; and

  

	 	(b)	 payment of the fees and expenses of counsel for the Administrative Agent and Lead Arranger in connection with
this Amendment. 

 4. Ratification of Loan Agreement. The term “Loan Agreement” as used in each of the
Loan Documents shall hereafter mean the Loan Agreement as amended and modified by this Amendment and as amended and modified from time to time hereafter. Except as herein specifically agreed, the Loan Agreement, as amended by this Amendment, is
hereby ratified and confirmed and shall remain in full force and effect according to its terms. Each party hereto acknowledges and consents to the modifications set forth herein and agrees that, other than as explicitly set forth in Sections
1 and 2 above, this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents (including, without limitation, the indemnity obligations set forth therein) and that, after the date hereof, this Amendment
shall constitute a Loan Document. 

  
 3 

 5. Authority/Enforceability. The Borrower represents and warrants as follows: 

(a) It has taken all necessary action to authorize the execution, delivery and performance of this Amendment. 

(b) This Amendment has been duly executed and delivered by the Borrower and constitutes the Borrower’s legal, valid and binding
obligation, enforceable in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws or similar laws affecting creditors’ rights generally or by general principles of equity (regardless of whether such
enforceability is considered in a proceeding at law or in equity). 
 (c) 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 the Borrower of this Amendment that has not been obtained or completed. 

6. Representations and Warranties. The Borrower represents and warrants to the Administrative Agent and the Lenders that (a) the
representations and warranties of the Borrower set forth in Section 6 of the Loan Agreement, as amended by this Amendment, are true and correct in all material respects (except to the extent that any such representation and warranty that is
qualified by materiality, Material Adverse Effect or Material Adverse Change shall be true and correct in all respects) as of the date hereof, unless they specifically refer to an earlier date, except that all references in Section 6.7 of the
Loan Agreement to December 31, 2017 shall be changed to December 31, 2019 for purposes hereof, (b) after giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default or an Event of Default, and
(c) it has no claims, counterclaims, offsets, credits or defenses to its obligations under the Loan Documents, or to the extent it has any, they are hereby released in consideration of the Administrative Agent and the Lenders party hereto
entering into this Amendment. 
 7. No Conflicts. The Borrower represents and warrants that the execution and delivery of this
Amendment, the consummation of the transactions contemplated herein and in the Loan Agreement (before and after giving effect to this Amendment), and the performance of and compliance with the terms and provisions hereof by the Borrower will not
(a) violate, contravene or conflict with any provision of its articles or certificate of incorporation, bylaws or other organizational or governing document, (b) violate, contravene or conflict with any law, rule, regulation (including,
without limitation, Regulation U and Regulation X), order, writ, judgment, injunction, decree or permit applicable to the Borrower, (c) violate, contravene or conflict with contractual provisions of, or cause an event of default under, any
indenture, loan agreement, mortgage, deed of trust, contract or other agreement or instrument to which the Borrower is a party or by which it or its properties may be bound, the violation of which would have or would be reasonably expected to have a
Material Adverse Effect or (d) result in or require the creation of any Lien upon or with respect to the Borrower’s properties. 

  
 4 

 8. Counterparts/Telecopy. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts, including both paper and electronic counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF
shall have the same force and effect as manual signatures delivered in person. This Amendment may be executed using Electronic Signatures (including, without limitation, facsimile and .pdf) and shall be considered an original, and shall have the
same legal effect, validity and enforceability as a paper record. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Administrative Agent of a manually signed paper hereof
which has been converted into electronic form (such as scanned into PDF format), or an electronically signed communication converted into another format, for transmission, delivery and/or retention. For purposes hereof, “Electronic
Signature” shall have the meaning assigned to it by 15 USC §7006, as it may be amended from time to time. 
 9. GOVERNING
LAW. THIS AMENDMENT 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. 

  
 5 

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

 

			
	PNM RESOURCES, INC.,
	a New Mexico corporation
		
	By:	 	/s/ Michael P. Mertz
	Name:	 	Michael P. Mertz
	Title:	 	Vice President and Treasurer

  

  
 Signature Page to
Second Amendment to Term Loan Agreement 

 
			
	LENDERS:
	
	MUFG BANK, LTD.,
	 individually in its capacity as a Lender and in its capacity

as Administrative Agent

		
	By:	 	/s/ Jeffrey P. Fesenmaier
	Name:	 	Jeffrey P. Fesenmaier
	Title:	 	Managing Director

  

  
 Signature Page to
Second Amendment to Term Loan Agreement 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	/s/ Gregory R. Gredvig
	Name:	 	Gregory R. Gredvig
	Title:	 	Director

  

  
 Signature Page to
Second Amendment to Term Loan Agreement 

 
			
	 THE BANK OF NEW YORK MELLON,

as a Lender

		
	By:	 	/s/ Molly H. Ross
	Name:	 	Molly H. Ross
	Title:	 	Vice President

  

  
 Signature Page to
Second Amendment to Term Loan Agreement

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