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EXHIBIT 10.12
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FOURTH AMENDMENT TO THIRD AMENDED AND RESTATED 
RECEIVABLES PURCHASE AGREEMENT
THIS FOURTH AMENDMENT TO THIRD AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of September 30, 2020, is entered into among ARCH RECEIVABLE COMPANY, LLC (the “Seller”), ARCH COAL SALES COMPANY, INC. (the “Servicer”), the various financial institutions party to the Agreement (as defined below) as Conduit Purchasers (the “Conduit Purchasers”), as Related Committed Purchasers (the “Related Committed Purchasers”), as LC Participants (the “LC Participants”), and as Purchaser Agents (the “Purchaser Agents”), and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as Administrator (the “Administrator”) and as LC Bank (the “LC Bank”; together with the Conduit Purchasers, the Related Committed Purchasers and the LC Participants, the “Purchasers”).
RECITALS
1.The parties hereto are parties to the Third Amended and Restated Receivables Purchase Agreement, dated as of October 5, 2016 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Agreement”).
2.Concurrently herewith, the Seller, the Servicer, ACI, the Administrator, PNC Capital Markets LLC and PNC are entering into that certain Twelfth Amended and Restated Purchaser Group Fee Letter (the “PNC Fee Letter”), dated as of the date hereof.
3.Concurrently herewith, the Seller, the Servicer, ACI and Regions are entering into that certain Fifth Amended and Restated Purchaser Group Fee Letter (the “Regions Fee Letter”; together with the PNC Fee Letter, collectively, the “Fee Letters”), dated as of the date hereof.
4.The parties hereto desire to amend the Agreement as hereinafter set forth.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
SECTION 1.Certain Defined Terms.  Capitalized terms that are used but not defined herein shall have the meanings set forth in the Agreement.
SECTION 2.Amendment to the Agreement.  The Agreement is hereby amended to incorporate the changes shown on the marked pages of the Agreement attached hereto as Exhibit A.
SECTION 3.Representations and Warranties.  Each of the Seller and the Servicer hereby represents and warrants to the Administrator, the Purchaser Agents and the Purchasers as follows:
(a)Representations and Warranties.  The representations and warranties made by such Person in the Agreement and each of the other Transaction Documents are true and correct 

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as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations or warranties were true and correct as of such earlier date).
(b)Enforceability.  The execution and delivery by such Person of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within each of its organizational powers and have been duly authorized by all necessary action on its part.  This Amendment and the Agreement, as amended hereby, are such Person’s valid and legally binding obligations, enforceable in accordance with their respective terms.
(c)No Default. Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Termination Event or Unmatured Termination Event exists or shall exist.
SECTION 4.Effect of Amendment; Ratification.  All provisions of the Agreement, as expressly amended and modified by this Amendment, shall remain in full force and effect.  After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “the Receivables Purchase Agreement”, “this Agreement”, “hereof”, “herein” or words of similar effect, in each case referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Agreement other than as specifically set forth herein.  The Agreement, as amended by this Amendment, is hereby ratified and confirmed in all respects.
SECTION 5.Effectiveness.  This Amendment shall become effective as of the date hereof, upon (I) receipt by the Administrator of duly executed counterparts of each of (a) this Amendment, (b) the PNC Fee Letter and (c) the Regions Fee Letter and (II) payment by Seller of all fees payable on the date hereof under (and in accordance with) the Fee Letters.
SECTION 6.Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof.
SECTION 7.Governing Law.  This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York (including for such purposes Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York).
SECTION 8.Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof.
SECTION 9.Successors and Assigns.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.

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SECTION 10.Ratification.  After giving effect to this Amendment and the transactions contemplated by this Amendment, all of the provisions of the Performance Guaranty shall remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.
SECTION 11.Transaction Document.  For the avoidance of doubt, each party hereto agrees that this Amendment constitutes a Transaction Document.
SECTION 12.Severability.  Each provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any provision hereof, and the unenforceability of one or more provisions of this Amendment in one jurisdiction shall not have the effect of rendering such provision or provisions unenforceable in any other jurisdiction.
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.
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ARCH RECEIVABLE COMPANY, LLC,
as Seller
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By:/s/ John T. Drexler
Name:John T. Drexler
Title:President
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ARCH COAL SALES COMPANY, INC.,
as Servicer
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By:/s/ John T. Drexler
Name:John T. Drexler
Title:Vice President and Treasurer
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ARCH RESOURCES, INC.,
as Performance Guarantor
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By:/s/ John T. Drexler
Name:John T. Drexler
Title: Senior Vice President and Chief Operating Officer

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PNC BANK, NATIONAL ASSOCIATION,
as Administrator
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By: /s/ Michael Brown
Name:Michael Brown
Title:Senior Vice President
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PNC BANK, NATIONAL ASSOCIATION,
as a Purchaser Agent
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By: /s/ Michael Brown
Name:Michael Brown
Title:Senior Vice President
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PNC BANK, NATIONAL ASSOCIATION,
as the LC Bank and as an LC Participant
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By: /s/ Michael Brown
Name:Michael Brown
Title:Senior Vice President
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PNC BANK, NATIONAL ASSOCIATION,
as a Related Committed Purchaser
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By: /s/ Michael Brown
Name:Michael Brown
Title:Senior Vice President
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REGIONS BANK,
as a Purchaser Agent

By: /s/ Mark A. Kassis
Name:  Mark A. Kassis 
Title:  Managing Director 

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REGIONS BANK,
as a Related Committed Purchaser

By: /s/ Mark A. Kassis
Name:  Mark A. Kassis 
Title:  Managing Director 

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REGIONS BANK,
as an LC Participant

By: /s/ Mark A. Kassis
Name:  Mark A. Kassis 
Title:  Managing Director 
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[EXHIBIT A]

738194802 15494375Exhibit 10.1

 

PROMISSORY
NOTE

 

	Not
    to Exceed $200,000	September
    14, 2020

 

FOR
VALUE RECEIVED, Concord Acquisition Corp., a Delaware corporation (“Maker” or the “Company”), hereby unconditionally
promises to pay to the order of Concord Sponsor Group, LLC, a Delaware limited liability company (“Payee”), the sum
of TWO HUNDRED THOUSAND DOLLARS ($200,000) or such lesser amount as shall have been advanced by Payee to Maker and shall remain
unpaid under this note (this “Note”), in legal and lawful money of the United States of America.

 

Payee
may make advances to Maker from time to time under this Note; provided, however, that notwithstanding anything to the contrary
herein, at no time shall the aggregate of all advances and re-advances outstanding under this Note exceed $200,000.

 

This
is a non-interest bearing Note.

 

The
entire unpaid principal balance of this Note shall be due and payable upon the earlier of December 31, 2020 or the consummation
of a public offering of the Company’s securities.

 

If
payment of this Note or any installment of this Note is not made when due, the entire indebtedness hereunder, at the option of
Payee, shall immediately become due and payable, and Payee shall be entitled to pursue any or all remedies to which Payee is entitled
hereunder, or at law or in equity.

 

This
Note may be prepaid, in whole or in part, without penalty. This Note may not be changed, amended or modified except in a writing
expressly intended for such purpose and executed by the party against whom enforcement of the change, amendment or modification
is sought. The loan evidenced by this Note is made solely for business purposes.

 

THIS
NOTE IS BEING EXECUTED AND DELIVERED, AND IS INTENDED TO BE PERFORMED, IN THE STATE OF NEW YORK. EXCEPT TO THE EXTENT THAT THE
LAWS OF THE UNITED STATES MAY APPLY TO THE TERMS HEREOF, THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE VALIDITY,
CONSTRUCTION, ENFORCEMENT AND INTERPRETATION OF THIS NOTE. IN THE EVENT OF A DISPUTE INVOLVING THIS NOTE OR ANY OTHER INSTRUMENTS
EXECUTED IN CONNECTION HEREWITH, THE UNDERSIGNED PARTIES IRREVOCABLY AGREE THAT VENUE FOR SUCH DISPUTE SHALL LIE IN ANY COURT
OF COMPETENT JURISDICTION IN THE STATE OF NEW YORK.

 

Service
of any notice by Maker to Payee or by Payee to Maker, shall be mailed, postage prepaid by certified United States mail, return
receipt requested, at the address for such party set forth in this Note, or at such subsequent address provided to the other party
hereto in the manner set forth in this paragraph for all notices. Any such notice shall be deemed given three (3) days after deposit
thereof in an official depository under the care and custody of the United States Postal Service.

 

     

     

    

 

Should
the indebtedness represented by this Note or any part thereof be collected at law or in equity or through any bankruptcy, receivership,
probate or other court proceedings or if this Note is placed in the hands of attorneys for collection after default, the undersigned
and all endorsers, guarantors and sureties of this Note jointly and severally agree to pay to the holder of this Note, in addition
to the principal and interest due and payable hereon, reasonable attorneys’ and collection fees.

 

The
undersigned and all endorsers, guarantors and sureties of this Note and all other persons liable or to become liable on this Note
severally waive presentment for payment, demand, notice of demand and of dishonor and nonpayment of this Note, notice of intention
to accelerate the maturity of this Note, notice of acceleration, protest and notice of protest, diligence in collecting, and the
bringing of suit against any other party, and agree to all renewals, extensions, modifications, partial payments, releases or
substitutions of security, in whole or in part, with or without notice, before or after maturity.

 

The
undersigned hereby expressly and unconditionally waives, in connection with any suit, action or proceeding brought by the payee
on this Note, any and every right it may have to (i) injunctive relief, (ii) a trial by jury, (iii) interpose any counterclaim
therein and (iv) have the same consolidated with any other or separate suit, action or proceeding. Nothing herein contained shall
prevent or prohibit the undersigned from instituting or maintaining a separate action against payee with respect to any asserted
claim.

 

Any
provision contained in this Notes which is prohibited or unenforceable in any jurisdictions shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibitions or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

This
Note represents the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent
oral agreements of the parties.

 

[Signature
page follows]

 

    	 	2	 

     

    

 

EXECUTED
AND AGREED as of the date first above written.

 

	 	CONCORD
    ACQUISITION CORP., 

a Delaware corporation
	 	 
	 	By:	/s/ Jeff Tuder
	 	Name:  	Jeff Tuder
	 	Title: 	Chief Executive Officer

 

[Signature Page to Promissory Note]

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