Document:

Exhibit

EXHIBIT 10.12

Execution Version

FIRST AMENDING AGREEMENT TO 
THIRD AMENDED AND RESTATED CREDIT AGREEMENT

dated as of December 15, 2016
 
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

 

AMENDING AGREEMENT TO THE THIRD AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 15, 2016 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 (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)
	Section 1.1 of the Credit Agreement is hereby amended by adding the following definition therein in the applicable alphabetical order:

““Depository Bill” means a depository bill, as such term is defined in the Depository Bills and Notes Act (Canada) (as such legislation may be amended, replaced or otherwise modified from time to time)”;
		
	(b)
	The definition of “Applicable Margin” contained in Section 1.1 of the Credit Agreement is hereby amended by (i) deleting the reference to “applicable LIBOR Margin” in the second last paragraph of such definition and replacing it with “Applicable Margin for LIBOR Loans” and (ii) deleting the reference to “LIBOR Advance” in the second last paragraph of such definition and replacing it with “LIBOR Loan”;

		
	(c)
	The definition of “Maturity Date” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the reference to “December 15, 2017” and replacing it with “December 14, 2018”;

- 2 -

		
	(d)
	The definition of “Revolving Period” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the reference to “December 15, 2016” and replacing it with “December 14, 2017”; 

		
	(e)
	Each of Section 5.1(iii) and Schedule 2(A) of the Credit Agreement is hereby amended by deleting the reference therein to “Notice of Borrowing” and replacing such reference with “Borrowing Notice”; 

		
	(f)
	Subsection (ii) of Section 9.2(g) is hereby deleted in its entirety and replaced with the following:

“(ii) the Borrower shall not form any Subsidiaries other than Permitted JA Subsidiaries and shall not enter into any joint ventures or joint arrangements other than Permitted Joint Arrangements.”; and
		
	(g)
	Section 11.1 of the Credit Agreement is hereby amended by deleting the reference to “Administrative Agent” and replacing such reference with “Agent”.

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.

- 3 -

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.
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/ David Koch

	 
	Name:   David Koch

	 
	Title:    Executive Vice President  
   and CFO

	 
	 

	By:
	/s/ Christopher J. Lomore

	 
	Name:    Christopher J. Lomore

	 
	Title:    Vice President, Treasurer

	
				
	 
	 
	ALTALINK MANAGEMENT LTD.

	By:
	/s/ David Koch

	 
	Name:   David Koch

	 
	Title:    Executive Vice President  
   and CFO

	 
	 

	By:
	/s/ Christopher J. Lomore

	 
	Name:    Christopher J. Lomore

	 
	Title:    Vice President, Treasurer

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

EXHIBIT 10.13

SUMMARY OF KEY TERMS OF COMPENSATION ARRANGEMENTS
 WITH BERKSHIRE HATHAWAY ENERGY COMPANY 
 NAMED EXECUTIVE OFFICERS AND DIRECTORS

Berkshire Hathaway Energy Company's ("BHE") continuing named executive officers each receive an annual salary and participate in health insurance and other benefit plans on the same basis as other employees, as well as certain other compensation and benefit plans described in BHE's Annual Report on Form 10-K. 

The named executive officers are also eligible to receive a cash incentive award under BHE's Performance Incentive Plan ("PIP"). The PIP provides for a discretionary annual cash award that is determined on a subjective basis and paid in December. In addition to the PIP, the named executive officers are eligible to receive discretionary cash performance awards periodically during the year to reward the accomplishment of significant non-recurring tasks or projects. Mr. Gregory E. Abel has not been granted discretionary cash performance awards in the past five years. Mr. Patrick J. Goodman and Ms. Natalie L. Hocken are participants in BHE's Long-Term Incentive Partnership Plan ("LTIP"). Mr. Abel does not participate in the LTIP. A copy of the LTIP is incorporated by reference to Exhibit 10.9 to BHE's Annual Report on Form 10-K for the year ended December 31, 2014.

Base salary for continuing named executive officers for BHE's fiscal year ending December 31, 2017, is shown in the following table:
	
				
	Name and Title
	Base Salary

	Gregory E. Abel
Chairman, President and Chief Executive Officer
	$
	1,000,000
	

	Patrick J. Goodman
Executive Vice President and Chief Financial Officer
	$
	482,000
	

	Natalie L. Hocken
Senior Vice President and General Counsel
	$
	420,000
	

Mr. Abel is a director of BHE, but does not receive additional compensation for his service as a director other than what he receives as an employee of BHE. The other members of the BHE board of directors do not receive compensation for their service as directors.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00267-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00267-of-00352.parquet"}]]