Document:

Exhibit

EXECUTION VERSION

Exhibit 10.1
AMENDMENT NO. 1 TO CREDIT AGREEMENT
AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment No. 1”), dated as of May 7, 2019, by and among EQUITRANS MIDSTREAM CORPORATION, a corporation organized under the laws of Pennsylvania (the “Borrower”),, GOLDMAN SACHS BANK USA, as administrative agent (in such capacity, including any permitted successor thereto, the “Administrative Agent”) and PNC BANK, NATIONAL ASSOCIATION, as collateral agent (in such capacity, including any permitted successor thereto, the “Collateral Agent”). 
PRELIMINARY STATEMENTS
WHEREAS, the Borrower has entered into that certain Credit Agreement, dated as of December 31, 2018, among the Borrower, the lenders party thereto from time to time, Goldman Sachs Bank USA, as Administrative Agent and PNC Bank, National Association, as Collateral Agent (the “Credit Agreement”, and as amended by this Amendment No. 1, the “Amended Credit Agreement”);
WHEREAS, Section 9.08(f) of the Credit Agreement provides that the Credit Agreement may be amended in order to cure an ambiguity, omission, mistake or defect with the consent of the Borrower, the Administrative Agent and the Collateral Agent;
WHEREAS, the parties hereto desire to amend the Credit Agreement on the terms set forth herein pursuant to Section 9.08(f);
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which is acknowledged by each party hereto, it is agreed:
SECTION 1.DEFINED TERMS. Capitalized terms used (including in the preamble and recitals hereto) but not defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement.  The rules of construction specified in Section 1.02 of the Credit Agreement also apply to this Amendment No. 1.
SECTION 2.    AMENDMENT AND CLARIFICATION WITH RESPECT TO CREDIT AGREEMENT.  
		
	(a)
	The definition of “Leverage Ratio” is hereby amended by inserting the following proviso at the end thereof immediately before the period at the end thereof: 

; provided that for the first three full fiscal quarters ending after the Closing Date, the amount in the preceding clause (b) shall be calculated as follows: (i) for the first full fiscal quarter ending after the Closing Date, Consolidated EBITDA for such 

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quarter multiplied by 4, (ii) for the second full fiscal quarter ending after the Closing Date, Consolidated EBITDA for the two consecutive quarters then ended multiplied by 2, and (iii) for the third full fiscal quarter ending after the Closing Date, Consolidated EBITDA for the three consecutive quarters then ended multiplied by 4/3.
		
	(b)
	Section 5.04 of the Credit Agreement is hereby amended by adding the following sentence to the end of the last paragraph of Section 5.04:

“In addition, for the avoidance of doubt, the parties hereto agree and acknowledge that (i) the delivery of separate financial statements for the Borrower and its Consolidated Subsidiaries, on the one hand, and any Subsidiary that is not a Consolidated Subsidiary and its consolidated subsidiaries, on the other hand, in each case, in the same form as filed with the SEC satisfies the requirements of Section 5.04(a) and Section 5.04(b), (ii) the filing of any such financial statements with the SEC for the fiscal year ended December 31, 2018 shall constitute delivery of such financial statements in accordance with this Agreement without any further notice being required to any Person and (iii) to the extent financial statements are not required to be filed with the SEC with respect to the consolidation of any particular Subsidiary, no such financial statements shall be required pursuant to Section 5.04(a) or Section 5.04(b) unless (A) such Subsidiary is a significant subsidiary (as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act) of the Borrower and (B) the Administrative Agent requests such financial statements in writing to the Borrower.”
SECTION 3.    REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT.  On and after the Amendment No. 1 Effective Date each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or text of like import referring to the Credit Agreement shall mean and be a reference to the Amended Credit Agreement.  For the avoidance of doubt, the parties hereto acknowledge and agree that this Amendment No. 1 shall be deemed to retroactively amend the Credit Agreement.
SECTION 4.    REPRESENTATIONS & WARRANTIES.  The Borrower hereby represents and warrants that as of the date hereof, immediately after giving effect to this Amendment No. 1, (i) no Default or Event of Default is existing and is continuing and (ii) all representations and warranties made by the Borrower contained in Article III of the Credit Agreement are true and correct in all material respects on and as of the date hereof with the same effect as though made on and as of such date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date. 

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SECTION 5.    CONDITIONS PRECEDENT.  The effectiveness of this Amendment No. 1 shall be deemed to occur on January 1, 2019 (the “Amendment No. 1 Effective Date”), subject to the satisfaction or waiver of the following conditions precedent:  
		
	(a)
	The Administrative Agent shall have received a duly authorized, executed and delivered counterpart of the signature page to this Amendment No. 1 from the Borrower, the Administrative Agent and the Collateral Agent.

		
	(b)
	The Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower dated the date hereof certifying as to the matters in Section 4. 

SECTION 6.    MISCELLANEOUS PROVISIONS.
		
	(a)
	Governing Law; Submission to Jurisdiction, Consent to Service of Process, Waiver of Jury Trial, Etc. Sections 9.11 and 9.15 of the Credit Agreement are incorporated by reference herein as if such Sections appeared herein, mutatis mutandis.

		
	(b)
	Severability.  Section 9.12 of the Credit Agreement is incorporated by reference herein as if such Section appeared herein, mutatis mutandis.

		
	(c)
	Counterparts; Headings.  This Amendment No. 1 may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment No. 1 by telecopy or other electronic imaging means (i.e., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment No. 1. Article and Section headings used herein are included for convenience of reference only, shall not constitute a part hereof, shall not be given any substantive effect and shall not affect the interpretation of this Amendment No. 1. 

		
	(d)
	Effect of Amendment.     Except as expressly set forth herein, (i) this Amendment No. 1 shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or any other Agent, in each case under the Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of either such agreement or any other Loan Document.  Each and every term, condition, obligation, covenant and agreement contained in the Amended Credit Agreement, or any other Loan Document, is hereby ratified and re-affirmed in all respects and shall continue in full force and effect.  This Amendment No. 1 shall constitute a Loan Document for purposes of the Amended Credit Agreement. 

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	(e)
	Amendment, Modification and Waiver.  This Amendment No. 1 may not be amended nor may any provision hereof be waived except pursuant to a writing signed by each of the parties hereto.

		
	(f)
	Expenses, Indemnity.  For the avoidance of doubt, the provisions of Section 9.05 of the Credit Agreement shall apply to this Amendment No. 1 as if such Section appeared herein, mutatis mutandis.

[Remainder of page intentionally blank; signatures begin next page]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be duly executed by their respective authorized officers as of the date first above written.

EQUITRANS MIDSTREAM CORPORATION, as Borrower

By:/s/ Janice M. Brenner    
Name: Janice M. Brenner
Title: Treasurer

[Signature Page to Amendment No. 1 to Credit Agreement]

GOLDMAN SACHS BANK USA, as Administrative Agent 
  
 
By/s/ Douglas Tansey     
    Name: Douglas Tansey 
    Title: Authorized Signatory

[Signature Page to Amendment No. 1 to Credit Agreement]

PNC BANK, NATIONAL ASSOCIATION, as Collateral Agent 
  
 
By /s/ Kyle T. Helfrich     
    Name: Kyle T. Helfrich 
    Title: Vice President

 

[Signature Page to Amendment No. 1 to Credit Agreement]Exhibit

Exhibit 10.2

Portions of this Exhibit have been redacted because they are both (i) not material and (ii) would be competitively harmful if publicly disclosed. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”.

AMENDMENT NO. 2 TO GAS GATHERING AGREEMENT
FOR THE WG-100 GAS GATHERING SYSTEM
    
THIS AMENDMENT NO. 2 TO GAS GATHERING AGREEMENT FOR WG-100 GAS GATHERING SYSTEM (this “Amendment”), dated this June 1, 2019 (“Effective Date”), is made and entered into by and among EQT PRODUCTION COMPANY (“Producer”) and EQT ENERGY, LLC (collectively with Producer, “Shipper”), on the one hand, and EQM GATHERING OPCO, LLC (“Gatherer”). Shipper and Gatherer may be referred to herein individually as a “Party” or collectively as the “Parties”. 
RECITALS
WHEREAS, Shipper and EQT Gathering, LLC, Gatherer’s predecessor in interest,  entered into that certain Gas Gathering Agreement dated as of March 1, 2015, as the same was amended, supplemented, and/or modified by (i) that certain Amendment No. 1 to Gas Gathering Agreement dated as of April 1, 2017, by and between the Parties, and (ii) that certain letter dated December 6, 2018, from Gatherer to Shipper (as amended, supplemented, and/or modified, the “Gathering Agreement”); and
WHEREAS, the Parties desire to amend the Gathering Agreement in accordance with the terms and conditions set forth in this Amendment. 
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
AGREEMENT
1.Defined Terms.  Capitalized terms used but not defined herein shall have the meaning set forth in the Gathering Agreement.
2.Amendment of Exhibit A-1.  Exhibit A-1 to the Gathering Agreement is hereby amended and restated to read in its entirety as set forth on Exhibit A-1 attached hereto.
3.Fees.  [***].
4.Amendment of Exhibit C.  Exhibit C to the Gathering Agreement is hereby amended and restated to read in its entirety as set forth on Exhibit C attached hereto.

5.Effect.  All other terms and conditions of the Gathering Agreement that are not expressly amended or modified in this Amendment remain unchanged and in full force and effect.  By executing this Amendment, each Party hereby ratifies the terms of the Gathering Agreement, as modified by this Amendment.  The Parties hereby acknowledge and agree that the Gathering Agreement continues in full force and effect, as modified by this Amendment.
6.Governing Law.  This Amendment shall be governed by, construed and enforced in accordance with the laws of the Commonwealth of Pennsylvania without regard to choice of law principles.
7.Counterparts.  This Amendment may be executed in counterparts, including by electronic signature, each of which will be as valid as another and all which together will constitute one and the same instrument.  Executed copies of this Amendment will be as valid for all purposes as original versions.
 [Signature Page Follows]

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IN WITNESS WHEREOF, each Party has caused its duly authorized representative to execute this Amendment as of the Effective Date.

	
	
	EQT PRODUCTION COMPANY

	By: /s/ Gary E. Gould                               

	Name: Gary E. Gould                               

	Title: COO                                                

	 

	EQT Energy, LLC

	By: /s/ Donald M. Jenkins                        

	Name: Donald M. Jenkins                        

	Title: EVP Commerical, BD, IT, & Safey

	 

	EQM GATHERING OPCO, LLC

	By: /s/ Paul Kress                                     

	Name: Paul Kress                                     

	Title: VP                                                    

 

[Signature Page to Amendment No. 2 to Gas Gathering Agreement]

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EXHIBIT A-1 
 
RECEIPT POINTS, DELIVERY POINTS AND RECEIPT POINT MDQ 
 

	
		
	Receipt Point(s)
	Receipt Point MDQ
Mcf / Day

	Saturn
Pandora
Mercury
*Only BIG333/192 Meters
	300,000
100,000
100,000*

	 
	 

	
		
	Delivery Point(s)
	Location

	MarkWest Mobley
	Logansport, WV

	 
	 

	 
	 

	 
	 

	
		
	Drip Liquids 
Delivery Point(s)
	Location

	MarkWest Mobley
	Logansport, WV

EXHIBIT C 
 
PARTIES’ ADDRESSES FOR NOTICE PURPOSES

Shipper:
	
		
	NOTICES & CORRESPONDENCE
	PAYMENTS BY ELECTRONIC FUNDS TRANSFER

	EQT Energy, LLC
625 Liberty Avenue, Suite 1700   
Pittsburgh, Pa  15222-3111   
Attn:  [***]
Phone: [***]
Fax:  [***]
Email address:  [***]
	Per invoice instructions   
Bank Name:  [***]
ABA/Routing Number:  [***]     
Account Number:  [***]
Account Name:   [***]   

	

EQT Production Company
625 Liberty Avenue, Suite 1700   
Pittsburgh, Pa  15222-3111      
Attn:  [***]
Phone:  [***]
Fax:  [***]Email address: [***]
	INVOICES

EQT Energy, LLC   
625 Liberty Avenue, Suite 1700   
Pittsburgh, Pa  15222-3111   
Attn:  [***]
Phone:  [***]Fax:  [***]Email  address:  [***]

	 

Gatherer:
	
		
	NOTICES & CORRESPONDENCE
	PAYMENTS BY ELECTRONIC FUNDS TRANSFER

	EQT Gathering, LLC
2200 Energy Dr   
Canonsburg, PA  15317   
Attn:  [***]
Phone: [***]Fax:  [***]
Email:  [***]
	Per invoice instructions   
Bank Name:  [***]
ABA/Routing Number:  [***]   
Account Number:  [***]
Account Name:  [***]      

	 
	INVOICES

	 
	Midstream Accounting   
EQT Gathering, LLC   
2200 Energy Dr   
Canonsburg, PA  15317      
Attn:  [***]
Phone:  [***]
Fax:  [***]Email:  [***]

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