Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
 FIFTH
AMENDMENT TO CREDIT AGREEMENT 
 THIS FIFTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of
December 28, 2017, is by and among Atlas Energy Group, LLC, a Delaware limited liability company (the “Parent”), New Atlas Holdings, LLC, a Delaware limited liability company (the “Borrower”), Atlas Lightfoot,
LLC, a Delaware limited liability company (“Atlas Lightfoot”), Titan Energy Management, LLC, a Delaware limited liability company (“Titan Management”), the Lenders party hereto and Riverstone Credit Partners, L.P.
(“Riverstone”), as Administrative Agent (the “Administrative Agent”) for the lenders party to the Credit Agreement referred to below (the “Lenders”). 

RECITALS: 
 A. The
Borrower, the Parent, the Lenders and the Administrative Agent are parties to that certain Credit Agreement, dated as of August 10, 2015 (as amended by that certain Amendment to Credit Agreement, dated as of August 24, 2015, Second
Amendment to Credit Agreement, dated as of January 20, 2016, Third Amendment to Credit Agreement and First Amendment to Security Agreement, dated as of March 30, 2016, Fourth Amendment to Credit Agreement, dated October 6, 2016 and
Extension Letter, dated September 29, 2017 and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Original Credit Agreement” and as further
amended by this Amendment, the “Credit Agreement”), pursuant to which the Lenders have provided certain Commitments (subject to the terms and conditions thereof) to the Borrower. 

B. The Borrower has requested that the Administrative Agent and Majority Lenders, and the Administrative Agent and the Lenders party hereto
(pursuant to the terms hereof) have agreed to, amend each of the Original Credit Agreement as set forth herein. 
 C. The Lenders signatory
hereto and the Administrative Agent are willing to consent to such amendment of the Original Credit Agreement, as more fully described herein, and upon satisfaction of the conditions set forth herein, this Amendment shall become effective as of the
Effective Date. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1.
Capitalized Terms. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement. 

SECTION 2. Amendment of Original Credit Agreement. In reliance on the representations, warranties, covenants and agreements contained
in this Amendment, and subject to the terms and conditions contained herein, the parties hereto agree as follows: 
 (a) The definition of
“Maturity Date” shall be amended by replacing the reference to “December 29, 2017” therein with “January 31, 2018”; 

(b) Section 10.1 shall be amended by inserting new clause (n) therein as follows: 

“(n) The Borrower shall fail to promptly, and in any event within two Business Days, provide written notice to the
Administrative Agent of any written proposal received or made by any Loan Party or any Affiliate thereof, whether pursuant to any binding or non-binding term sheet, letter of intent, commitment letter or
otherwise, with respect to any potential purchase or other acquisition of property, sale, assignment or other disposition of property, merger, consolidation, issue of any equity or issuance or incurrence of any debt, in each case, by or with any
Loan Party, which notice shall include a summary of the material terms of such proposal.” 

 SECTION 3. Condition to Effectiveness. This Amendment shall become effective on the date
(the “Effective Date”) the following conditions are satisfied: 
 (a) the Administrative Agent shall have received executed
counterparts (in such number as may be requested by the Administrative Agent) of this Amendment from the Borrower, the Parent, the Administrative Agent, AEG and the Majority Lenders; 

(b) the Administrative Agent shall have received a certificate of an authorized officer of each Loan Party dated as of the Effective Date
certifying to the effect that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors, board of managers or member, as the case may be, of each Loan Party authorizing the execution, delivery and performance
of this Amendment, and that such resolutions have not been modified, rescinded or amended, such resolutions are in full force and effect and there are no plans to modify rescind or amend such resolutions; and 

(c) the Administrative Agent shall have received all reasonable and documented
out-of-pocket costs and expenses due to the Administrative Agent and the Lenders and required to be paid on the Effective Date (including, to the extent invoiced prior
to the Effective Date, the reasonable and documented fees and expenses of Latham & Watkins, LLP, counsel to the Administrative Agent); 

For the avoidance of doubt, the breach of any clause in this Section 3 shall become an immediate Event of Default. 

SECTION 4. Miscellaneous. 

(a) Further Assurances. Each of the Parent and the Borrower shall, and each shall cause each other Loan Party to, at its expense,
promptly execute and deliver to the Administrative Agent all such other documents, agreements and instruments reasonably requested by the Administrative Agent to comply with, cure any defects or accomplish the conditions precedent, covenants and
agreements of the Parent, the Borrower or any other Loan Party, as the case may be, in this Amendment or to further evidence, or to correct any omissions in this Amendment or the Security Instruments, or to state more fully the obligations secured
therein, or to perfect, protect or preserve any Liens required pursuant to this Amendment or any of the Security Instruments or the priority thereof, or to make any recordings, file any notices or obtain any consents, all as may be reasonably
necessary or appropriate, in the reasonable discretion of the Administrative Agent, in connection therewith. 
 (b) Confirmation. The
provisions of the Loan Documents, as waived or otherwise modified hereby, shall remain in full force and effect in accordance with their terms following the effectiveness of this Amendment, without any other waiver, amendment or modification
thereof. 
 (c) Ratification and Affirmation. Each of the undersigned does hereby adopt, ratify, and confirm the Credit Agreement and
the other Loan Documents to which it is a party, as modified hereby, and its obligations thereunder. Each of the Borrower and the Parent hereby (i) acknowledges, renews and extends its continued liability under, each Loan Document to which it
is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly modified hereby and (ii) represents and warrants to the Lenders that immediately after giving effect to this Amendment,
no Default or Event of Default will have occurred and be continuing. 

  
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 (d) Loan Document. This Amendment and each agreement, instrument, certificate or document
executed by the Borrower and the Parent or any of their officers in connection therewith are “Loan Documents” as defined and described in the Credit Agreement and all of the terms and provisions of the Loan Documents relating to other Loan
Documents shall apply hereto and thereto. 
 (e) Miscellaneous. This Amendment (i) shall be binding upon and inure to the
benefit of the Loan Parties, the Lenders and the Administrative Agent and their respective successors and assigns (provided, however, no party may assign its rights hereunder except in accordance with the Credit Agreement), (ii) may be modified or
amended only in accordance with the Credit Agreement and (iii) may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the
same instrument. Delivery of an executed signature page to this Amendment by facsimile transmission or other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

(f) GOVERNING LAW. THIS AGREEMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 [Signature pages follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the
date first written above. 
  

			
	NEW ATLAS HOLDINGS, LLC, as Borrower
	ATLAS ENERGY GROUP, LLC, as Parent
		
	By:	 	/s/ Jeffrey Slotterback
	Name:	 	Jeffrey Slotterback
	Title:	 	Chief Financial Officer and
Authorized Signatory
	
	TITAN ENERGY MANAGEMENT, LLC
		
	By:	 	/s/ Jeffrey Slotterback
	Name:	 	Jeffrey Slotterback
	Title:	 	Chief Financial Officer and
Authorized Signatory

 
			
	ATLAS LIGHTFOOT, LLC
		
	By:	 	/s/ Jeffrey Slotterback
	Name:	 	Jeffrey Slotterback
	Title:	 	Chief Financial Officer and
Authorized Signatory

 
			
	RIVERSTONE CREDIT PARTNERS, L.P.,
	as Administrative Agent and as Lender
	
	By: RCP F1 GP, L.P., its general partner
	
	By: RCP F1 GP, L.L.C., its general partner
		
	By:	 	/s/ Christopher A. Abbate
	Name:	 	Christopher A. Abbate
	Title:	 	Managing Director

 
			
	AEG ASSET MANAGEMENT, LLC,
	as a Lender
		
	By:	 	/s/ Jeffrey Slotterback
	Name:	 	Jeffrey Slotterback
	Title:	 	Chief Financial Officer

 
			
	THE LEON AND TOBY COOPERMAN FAMILY FOUNDATION
	as a Lender
		
	By:	 	/s/ Leon G. Cooperman
	Name:	 	Leon G. Cooperman
	Title:	 	Trusteeefsh_ex41.htm

EXHIBIT 4.1  

 

GRID PROMISSORY NOTE

 

January 3, 2018

 

FOR VALUE RECEIVED, receipt and sufficiency of which is acknowledged, 1847 Holdings LLC, a Delaware limited liability company (the “Company”), with offices at 590 Madison Avenue, 21st Floor, New York, NY 10022, hereby promises to pay to 1847 Partners LLC (the “Holder”), the principal sum of up to One Hundred Fifty Thousand Dollars ($150,000) (the “Base Amount”), plus the aggregate unpaid principal amount of all advances made to the Company by the Holder (“Advances”) outstanding on the Maturity Date (as defined below) when all amounts due hereunder shall be due and payable together with interest thereon as hereinafter provided, in lawful money of the United States of America and in immediately available funds. Initial borrowing under this Grid Promissory Note (this “Note”) shall be Fifty Thousand Dollars ($50,000) paid by Holder on January 3, 2018. “Maturity Date” means twelve (12) months of the date hereof.

 

In no event shall the amount payable by the Company as interest or other charges on this Note exceed the highest lawful rate permissible under any law applicable hereto. 

 

If any payment under this Note shall be specified to be made on a day which is not a business day, it shall be made on the next succeeding day which is a business day. For purposes of this Note, a “business day” shall mean any day other than Saturday, Sunday or other day in which banks are authorized to close in the State of Delaware. 

 

The Company hereby authorizes the Holder to endorse on the Schedule annexed to this Note all Advances hereafter made to the Company and all payments of the principal amounts in respect of such Advances or in respect of the Base Amount, which endorsements shall, in the absence of manifest error, be conclusive as to the outstanding principal amount of all Advances and as to the outstanding principal amount of the Base Amount; provided, however, that the failure to make such notation with respect to any Advances or payment shall not limit or otherwise affect the obligations of the Company under this Note. The Holder shall promptly deliver a copy of the Schedule to the Company each time that the Schedule is modified.

 

1. Payment of Base Amount and Advances under the Note. The outstanding portion of the Base Amount plus the outstanding portion of all Advances shall be payable in one lump sum due on the Maturity Date. Payments of principal are to be made to the Holder at its office address designated above or at such other place as the Holder shall have notified the Company in writing.

 

2. Payment of Interest on this Note. Interest shall accrue on the unpaid portion of the Base Amount and the unpaid portion of all Advances outstanding from time to time at a fixed rate of interest equal to eight percent (8%) per annum and shall be payable in one lump sum due on the Maturity Date. Payments of interest hereunder are to be made to the Holder at its office address designated above or at such other place as the Holder shall have notified the Company in writing. If all or a portion of (i) the Base Amount or any Advance under this Note or (ii) any interest payable hereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate of twelve percent (12%) per annum.

 

	 
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3. Prepayment. (a) The outstanding portion of the Base Amount and the interest thereon and the outstanding portion of any Advances hereunder and the interest thereon may be prepaid in whole or in part at any time without penalty or premium of any kind. The amount of each prepayment of such principal shall be applied in the order that such principal becomes due hereunder.

 

(b) In the event the Company completes a financing of at least $500,000, the Company shall, contemporaneously with the closing of such financing transaction, prepay the entire outstanding portion of the Base Amount and any Advances hereunder and accrued and unpaid interest thereon.

 

4. Events of Default. The existence of any of the following conditions shall constitute an event of default hereunder (an “Event of Default”):

 

(a) The failure by the Company to pay when due any portion of the Base Amount or any Advance, or the failure by the Company to pay when due any interest under this Note; or

 

(b) If the Company:

 

(i) shall commence any case or proceeding under any bankruptcy, insolvency or other similar law or seek reorganization, arrangement, readjustment of its debts, dissolution, liquidation, winding-up, composition or any other relief under any bankruptcy, insolvency, reorganization, liquidation, dissolution, arrangement, composition, readjustment of debt or any other similar act or law, of any jurisdiction, domestic or foreign, now or hereafter existing; or 

 

(ii) shall admit the material allegations of any petition or pleading in connection with any such case or proceeding; or

 

(iii) makes an application for, or consents or acquiesces to, the appointment of a receiver, conservator, trustee or similar officer for the Company or for all or a substantial part of the Company’s property; or

 

(iv) makes a general assignment for the benefit of the Company’s creditors; or

 

(v) is unable or admits in writing its inability to generally pay the Company’s debts as they mature; or

 

(c) The (i) commencement of any case or proceeding against the Company under any bankruptcy, insolvency, or other similar law or seeking reorganization, arrangement, readjustment of its debts, liquidation, dissolution, winding-up, composition or any other relief under any bankruptcy, insolvency, reorganization, liquidation, dissolution, arrangement, composition, readjustment of debt or any other similar act or law of any jurisdiction, domestic or foreign, now or hereafter existing, (ii) appointment of a receiver, trustee or similar officer for the Company or for all or a substantial part of the Company’s property, or (iii) issuance of a warrant of attachment, execution or similar process against any substantial part of the property of the Company, and such case, proceeding, receiver, trustee, officer, warrant, execution or process shall not be dismissed, bonded or discharged, as applicable, within sixty (60) days of the commencement, appointment or issuance thereof.

 

	 
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5. Rights and Remedies. In the event that one or more Events of Default shall have occurred and be continuing, the Holder may at its option by written notice to the Company declare the Base Amount and all Advances hereunder and the accrued and unpaid interest on this Note to be immediately due and payable, and thereupon the same shall become so due and payable, without presentment, demand, protest or further notice, all of which are hereby waived by the Company. No course of dealing or delay on the part of the Holder of this Note in exercising any right shall operate as a waiver thereof or otherwise prejudice the right of the Holder. Subject as aforesaid, no remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute, other agreement or instrument, or otherwise.

 

6. Lost Documents. Upon receipt by the Company of (i) evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Note, (ii) in the case of loss, theft or destruction, indemnification satisfactory to the Company, and (iii) in the case of mutilation, surrender and cancellation of this Note, the Company will cancel this Note on its books and make and deliver in its place a new note in the then unpaid principal amount of this Note, of like tenor to this Note, dated and bearing interest from the date next following the date through which interest has been paid on the unpaid principal amount of this Note.

 

7. Costs and Expenses. Upon the occurrence of any Event of Default, the Company shall pay all reasonable costs and expenses incurred by the Holder (including, without limitation, court costs and reasonable attorneys’ fees) in preserving, protecting, maintaining or enforcing its rights and remedies hereunder, including, without limitation, all costs and expenses of collection.

 

8. Assignment. This Note may not be sold, offered for sale, pledged, hypothecated or otherwise encumbered, transferred or disposed of by the Holder without the prior written consent of the Company. The Company shall not assign any or all of its obligations hereunder without the prior written consent of the Holder. 

 

9. Cancellation. After the principal balance of this Note and all accrued interest thereon has been satisfied, the Holder shall surrender this Note to the Company for cancellation.

 

10. Miscellaneous.

 

(a) Parties in Interest. All covenants, agreements and undertakings in this Note by and on behalf of the Company and the Holder hereof shall, subject to the provisions of Section 8 hereof, bind and inure to the benefit of the parties hereto and their respective permitted successors and assigns, whether so expressed or not.

 

(b) Notices. All notices, requests, communications, consents and demands shall be made in writing and shall be (i) sent by registered or certified mail, first class, postage prepaid, return receipt requested or (ii) delivered by hand, facsimile transmission or messenger to the Company or to the Holder hereof, as the case may be, at their respective addresses set forth at the beginning of this Note, or at such other respective addresses as may be furnished in writing to each other. All such notices, requests communications, consents and demands shall be deemed given if mailed, three business days after mailing, and if personally delivered, the day so delivered.

 

	 
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(c) Governing Law. This Note shall be governed by, and construed and interpreted in accordance with, the laws of the State of Delaware.

 

(d) Submission To Jurisdiction. Each of the Company and the Holder hereby irrevocably and unconditionally submits in any legal action or proceeding relating to this Note, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive general jurisdiction of any state or federal court sitting in Delaware; consents that any such action or proceeding may be brought in such courts, and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to it, at the address set forth in the preamble hereof; and agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction.

 

(e) WAIVERS OF JURY TRIAL. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS NOTE AND FOR ANY COUNTERCLAIM THEREIN.

 

	 
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IN WITNESS WHEREOF, this Note has been executed and delivered on the date set forth at the beginning of this Note by the duly authorized representatives of the Company.

 

	 	
1847 Holdings LLC
	
	 	 	 	 
		By:	/s/ Ellery Roberts 	
	
 
	
Name: 
	Ellery Roberts	 
	 	Title: 	Chief Executive Officer	 

 

	 
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SCHEDULE TO PROMISSORY NOTE

 

	
DATE
	
AMOUNT OF

ADVANCE OR

PRE-PAYMENT
	
UNPAID

PRINCIPAL

BALANCE OF NOTE
	
NAME OF

PERSON MAKING

NOTATION
	
SIGNATURE OF

PERSON MAKING

NOTATION

					
					
					
					
					
					
					
					
					
					
					
					
					
					
					
					
					
					
					

 

 

	
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