Document:

Exhibit

Exhibit 10.31

EXECUTION VERSION

FIRST AMENDMENT TO CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is made and entered into as of June 13, 2017, by and among CONTURA ENERGY, INC., a Delaware corporation (the “Borrower”), each of the Guarantors (as defined in the Credit Agreement referred to below), the Lenders (as defined below) that are parties hereto, and JEFFERIES FINANCE LLC, in its capacity as administrative agent (the “Administrative Agent”) and collateral agent (the “Collateral Agent”) for the Lenders. 

W I T N E S S E T H:

WHEREAS, the Borrower, the several banks and other financial institutions party thereto (collectively, the “Lenders”), the Administrative Agent and the Collateral Agent are parties to that certain Credit Agreement, dated as of March 17, 2017 (as amended, supplemented and modified from time to time and in effect immediately prior to the date hereof, the “Credit Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement as amended hereby), pursuant to which the Lenders have made certain financial accommodations available to the Borrower; and 

WHEREAS, the Borrower has requested that the Lenders, the Administrative Agent and the Collateral Agent amend certain provisions of the Credit Agreement in order to permit the Borrower to make a one-time dividend, and subject to the terms and conditions hereof, the Lenders executing this Amendment are willing to do so; 

NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of which are acknowledged, the Borrower, the Lenders executing this Amendment, the Administrative Agent and the Collateral Agent agree as follows:

1.Amendments to Credit Agreement.   

(a)    Section 1.01 of the Credit Agreement is hereby amended by amending the definition of “Available Amount” to (i) delete the period at the end of clause (iii) thereof and replacing it with “; minus” and (ii) inserting a new clause (iv) at the end thereof as follows:

“(iv) to the extent any Restricted Payment is made pursuant to Section 7.06(n), the remainder (if positive) of (A) the aggregate amount of such Restricted Payment less (B) $20,000,000.”

(b)    Section 1.01 of the Credit Agreement is hereby further amended by inserting the following defined terms therein in appropriate alphabetical order:

“‘First Amendment Effective Date’ means June 13, 2017.”

(c)    Section 2.03(d) of the Credit Agreement is hereby amended and restated in its entirety as follows:  

“(d)        Excess Cash Flow. In the event that there shall be Excess Cash Flow for any fiscal year (commencing with the fiscal year ending December 31, 2017 for the portion of such fiscal year occurring after the Closing Date), Borrower shall, no later than one hundred thirty (130) days after the end of such fiscal year, prepay the Term Loans in an aggregate amount equal to (i) 75% of such Excess Cash Flow minus (ii) voluntary repayments of the Loans made with Internally Generated Cash (excluding, for the avoidance of doubt, repayments of Loans made with the cash proceeds of any Permitted Refinancing Indebtedness); provided, that if, as of the last day of the most 

recently ended fiscal year, the Total Leverage Ratio (determined for any such period by reference to the Compliance Certificate delivered pursuant to Section 6.02(a) calculating the Total Leverage Ratio as of the last day of such fiscal year) shall be (1) less than 2.50:1.00 and greater than or equal to 1.25:1.00, Borrower shall only be required to make the prepayments otherwise required hereby in an amount equal to (i) 50% of such Excess Cash Flow minus (ii) voluntary repayments of the Loans made with Internally Generated Cash (excluding, for the avoidance of doubt, repayments of Loans made with the cash proceeds of any Permitted Refinancing Indebtedness) and (2) less than 1.25:1.00, Borrower shall only be required to make the prepayments otherwise required hereby in an amount equal to (i) 25% of such Excess Cash Flow minus (ii) voluntary repayments of the Loans made with Internally Generated Cash (excluding, for the avoidance of doubt, repayments of Loans made with the cash proceeds of any Permitted Refinancing Indebtedness).”

(d)    Section 7.06 of the Credit Agreement is hereby amended by amending and restating clause (e) in its entirety as follows: 

“(e) so long as no Event of Default shall have occurred and be continuing or would result therefrom, the Borrower and its Subsidiaries may make Restricted Payments in an amount not to exceed (i) the remainder (if positive) of (1) $20,000,000 less (2) the aggregate amount of any Restricted Payment made pursuant to Section 7.06(n), plus (ii) the Available Amount; provided that, the First Lien Leverage Ratio (calculated on a Pro Forma Basis) shall be less than or equal to (A) with respect to any such calculation in respect of a four consecutive quarter period ended on or before December 31, 2017, 1.00:1.00 after giving effect to such Restricted Payment, (B) with respect to any such calculation in respect of a four consecutive quarter period ended after December 31, 2017 and on or before December 31, 2018, 1.25:1.00 after giving effect to such Restricted Payment and (C) with respect to any other such calculation, 1.50:1.00 after giving effect to such Restricted Payment;”

(e)    Section 7.06 of the Credit Agreement is hereby further amended by (i) deleting the word “and” at the end of clause (l) thereof; (ii) deleting the period at the end of clause (m) thereof and replacing it with “; and”; and (iii) inserting a new clause (n) at the end thereof as follows:

“(n) the Borrower may (i) no later than 45 days after the First Amendment Effective Date, declare and pay a one-time cash dividend or distribution from unencumbered cash on hand to its shareholder, (ii) no later than December 31, 2017, purchase, redeem or otherwise acquire Equity Interests issued by it, or (iii) any combination of the foregoing, in an aggregate amount for all such transactions not to exceed $150,000,000 so long as (A) no Event of Default shall have occurred and be continuing or would result therefrom, (B) the First Lien Leverage Ratio (calculated on a Pro Forma Basis) shall be less than or equal to 1.00:1.00 after giving effect to such Restricted Payment, and (C) at least three Business Days prior to the first of any such Restricted Payment the Borrower shall make an offer to all Lenders to repay the Term Loans at par concurrently with the payment of such Restricted Payment in an aggregate principal amount equal to $10,000,000; provided that, notwithstanding anything to the contrary in this Agreement, each Lender may notify the Administrative Agent by no later than 5:00 p.m., New York City time on the second Business Day after the delivery of such prepayment offer to the extent it does not wish to accept all or any portion of its Applicable Percentage of such offer. Any Lender whose response is not received by the Administrative Agent by 5:00 p.m., New York City time on the second Business Day after the delivery of the prepayment offer or does not specify the amount of its share of the prepayment that it is declining shall be deemed an acceptance of the total amount of such Lender’s share of the 

2

prepayment offer. Concurrently with the payment of the first of any Restricted Payment pursuant to this clause (n), the Borrower shall make a prepayment at par of outstanding Term Loans to each Lender who accepted (or has been deemed to accept) the prepayment offer in a principal amount equal to such Lender’s Applicable Percentage of $10,000,000 which shall be applied (or deemed applied) to the remaining scheduled installments of principal owed to such Lender in inverse order of maturity. Any portion of the prepayment properly rejected pursuant to the above terms shall be retained by the Borrower.” 

2.Effectiveness of Amendment. Notwithstanding any other provision of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is understood and agreed that the amendment contained herein shall not become effective, and the Borrower shall have no rights under this Amendment, until the Administrative Agent shall have received:

(a)    this Amendment duly executed by the Borrower, each Guarantor, the Required Lenders, the Administrative Agent and the Collateral Agent;

(b)    a certificate signed by a Responsible Officer of the Borrower certifying that as of the effective date of this Amendment, (i) after giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects), and (ii) no Default or Event of Default has occurred and is continuing; 

(c)    a fee equal to 0.25% of the Term Loans payable to the Administrative Agent for the ratable benefit of the Lenders executing this Amendment based upon their respective Applicable Percentages; and

(d)    reimbursement or payment of the costs and expenses of the Administrative Agent incurred in connection with the preparation, execution and delivery of this Amendment or otherwise outstanding under the Credit Agreement, including, without limitation, the reasonable fees and out-of-pocket expenses of outside counsel for the Administrative Agent.

3.Representations and Warranties.  To induce the Lenders, the Administrative Agent and the Collateral Agent to enter into this Amendment, each of the Loan Parties represents and warrants to the Lenders, the Administrative Agent and the Collateral Agent that: 

(a)    The execution, delivery and performance by such Loan Party of this Amendment are within its organizational powers and have been duly authorized by all necessary organizational and, if required, shareholder, partner or member action.  This Amendment has been duly executed and delivered by such Loan Party and constitutes a valid and binding obligation of such Loan Party, enforceable against it in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity.

(b)    The execution, delivery and performance by such Loan Party of this Amendment (a) do not require any consent or approval of, registration or filing with, or any action by, any Governmental Authority, except those as have been obtained or made and are in full force and effect, (b) will not violate any Requirement of Law or any judgment, order or ruling of any Governmental Authority, in each case, applicable to such Loan Party, (c) will not violate the terms of such Loan Party’s Organizational Documents, (d) will not violate or result in a default under any Contractual Obligation of such Loan Party or any of its assets or give rise to a right thereunder to require any payment to be made by such Loan Party and (e) will not result in the creation or imposition of any Lien on any asset of such Loan Party, except Liens (if any) created under the Loan Documents.

3

(c)    After giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects), and no Default or Event of Default has occurred and is continuing as of the date hereof.

4.Reaffirmations and Acknowledgments.   Each Loan Party does hereby adopt, ratify, and confirm the Credit Agreement and the other Loan Documents, as amended hereby and its obligations thereunder. Each of the Loan Parties hereby 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 amended hereby, notwithstanding the amendments contained herein.   
    
5.Effect of Amendment.  Except as set forth expressly herein, all terms of the Credit Agreement, as amended hereby, and the other Loan Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Borrower to the Lenders and the Administrative Agent.  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 the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.  Any reference in any Loan Document to the Credit Agreement (including “thereunder”, “thereof” or other words of like import referring to the Credit Agreement) shall be a reference to the Credit Agreement as amended by this Amendment.  This Amendment shall constitute a Loan Document for all purposes of the Credit Agreement.

6.Governing Law.   This Amendment and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the transactions contemplated hereby shall be governed by, and construed in accordance with, the law of the State of New York (without giving effect to the conflict of law principles thereof except for Sections 5-1401 and 5-1402 of the New York General Obligations Law) and all applicable federal laws of the United States of America. 

7.No Novation.  This Amendment is not intended by the parties to be, and shall not be construed to be, a novation of the Credit Agreement or an accord and satisfaction in regard thereto.

8.Counterparts.  This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of this Amendment by facsimile transmission or by electronic mail in pdf form shall be as effective as delivery of a manually executed counterpart hereof.

9.Costs and Expenses.  The Borrower agrees to pay all costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment which are payable pursuant to Section 10.04 of the Credit Agreement.

10.Binding Nature.  This Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective successors, successors-in-titles, and assigns.

11.Entire Understanding.  This Amendment sets forth the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto.

[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

	
			
	BORROWER: 

	 
	 
	 

	CONTURA ENERGY, INC.

	 
	 
	 

	 
	 
	 

	By
	/s/ C. Andrew Eidson

	 
	Name:
	C. Andrew Eidson

	 
	Title:
	Executive Vice President, Chief Financial Officer and Treasurer

[Signature Page to First Amendment to Credit Agreement (Contura)]

	
			
	GUARANTORS:

	 
	 
	 

	CONTURA ENERGY, LLC

	 
	 
	 

	 
	 
	 

	By
	/s/ C. Andrew Eidson

	 
	Name:
	C. Andrew Eidson

	 
	Title:
	Manager and President

	 
	 
	 

	 
	 
	 

	CONTURA ENERGY SERVICES, LLC

	 
	 
	 

	 
	 
	 

	By
	/s/ C. Andrew Eidson

	 
	Name:
	C. Andrew Eidson

	 
	Title:
	Executive Vice President and Chief Financial Officer

	 
	 
	 

	 
	 
	 

	CONTURA MINING HOLDING, LLC

	 
	 
	 

	 
	 
	 

	By
	/s/ C. Andrew Eidson

	 
	Name:
	C. Andrew Eidson

	 
	Title:
	Executive Vice President, Chief Financial Officer and Treasurer

	 
	 
	 

	EMERALD CONTURA, LLC

	DICKENSON-RUSSELL CONTURA, LLC

	NICHOLAS CONTURA, LLC

	CONTURA COAL RESOURCES, LLC

	CONTURA WYOMING LAND, LLC

	CONTURA COAL SALES, LLC

	POWER MOUNTAIN CONTURA, LLC

	CUMBERLAND CONTURA, LLC

	CONTURA PENNSYLVANIA LAND, LLC

	CONTURA FREEPORT, LLC

	CONTURA EUROPEAN MARKETING, LLC

	PARAMONT CONTURA, LLC

	CONTURA PENNSYLVANIA TERMINAL, LLC

	CONTURA CAPP LAND, LLC

	CONTURA COAL WEST, LLC

	CONTURA TERMINAL, LLC

	 
	 
	 

	 
	 
	 

	By
	/s/ C. Andrew Eidson

	 
	Name:
	C. Andrew Eidson

	 
	Title:
	Vice President and Treasurer

[Signature Page to First Amendment to Credit Agreement (Contura)]

	
			
	JEFFERIES FINANCE LLC

	as Administrative Agent, Collateral Agent and Lender

	 
	 
	 

	 
	 
	 

	By
	/s/ J. Paul McDonnell

	 
	Name:
	J. Paul McDonnell

	 
	Title:
	Managing Director

[Signature Page to First Amendment to Credit Agreement (Contura)]

	
			
	Arch Street CLO, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Scott D'Orsi

	 
	Name:
	Scott D'Orsi

	 
	Title:
	Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BDCA-CB FUNDING, LLC

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Corinne Pankovcin

	 
	Name:
	Corinne Pankovcin

	 
	Title:
	Director

	
			
	Benefit Street Partners Capital Opportunity Fund SPV LLC

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO IV, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO IX, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO V, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO VI, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO VII, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO VIII, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO X, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO XI, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners CLO XII, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BSP Senior Secured Debt Fund (Non-US) SPV-1 L.P.

	as a Lender

	By: BSP Senior Secured Debt Fund (Non-US) SPV GP L.L.C., its general partner 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Benefit Street Partners SMA-C SPV L.P.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Blue Cross of Idaho Health Service, Inc.

	as a Lender

	By:  Seix Investment Advisors LLC, as Investment Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ George Goudelias

	 
	Name:
	George Goudelias

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2012-2 Ltd

	as a Lender

	BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC,  
Its Collateral Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2013-1 LTD.

	as a Lender

	BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC.  
ITS COLLATERAL MANAGER 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2013-4 Ltd.

	as a Lender

	BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC.  
ITS COLLATERAL MANAGER 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2014-1 Ltd

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2014-2 Ltd

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2014-3 Ltd.

	as a Lender

	By: BlueMountain Capital Management, LLC 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2014-4 Ltd

	as a Lender

	BY: BlueMountain Capital Management

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2015-1 Ltd

	as a Lender

	BlueMountain Capital Management, its Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2015-2, Ltd.

	as a Lender

	By: BlueMountain Capital Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2015-3 Ltd

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2015-4, Ltd.

	as a Lender

	By: BlueMountain Capital Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2016-1, Ltd.

	as a Lender

	BlueMountain Capital Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2016-2, Ltd.

	as a Lender

	BlueMountain Capital Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BlueMountain CLO 2016-3 Ltd

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Meghan Fornshell

	 
	Name:
	Meghan Fornshell

	 
	Title:
	Operations Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	BOWERY FUNDING ULC

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Madonna Sequeira

	 
	Name:
	Madonna Sequeira  

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Cent CLO 23 Limited

	as a Lender

	By: Columbia Management Investment Advisers, LLC 
As Collateral Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Steven B. Staver 

	 
	Name:
	Steven B. Staver 

	 
	Title:
	Assistant Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Citi Loan Funding BM 2017 LLC

	as a Lender

	By: Citigroup Financial Products Inc. 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Jennifer Guinn

	 
	Name:
	Jennifer Guinn

	 
	Title:
	Associate Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	City National Rochdale Fixed Income Opportunities Fund

	as a Lender

	By:  Seix Investment Advisors LLC, as Subadviser 

	 
	 
	 

	 
	 
	 

	By:
	/s/ George Goudelias  

	 
	Name:
	George Goudelias  

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
					
	CONTINENTAL CASUALTY COMPANY

	as a Lender

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	By:
	/s/ Lynne Gugenheim

	 
	Name:
	Lynne Gugenheim

	 
	Title:
	Senior Vice President and Deputy General Counsel

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	Approved by Law Dept.

	 
	 
	 
	By:
	[Illegible signature]

	 
	 
	 
	Date:
	6-6-17

	
			
	Crown Point CLO III, Ltd.

	as a Lender

	by Valcour Capital Management LLC, as its Collateral Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ John D'Angelo 

	 
	Name:
	John D'Angelo

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Dunham Floating Rate Bond Fund

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings 

	 
	Name:
	Kyle Jennings 

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	FCCI Insurance Company

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kathy News 

	 
	Name:
	Kathy News 

	 
	Title:
	Senior Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Figueroa CLO 2014-1, Ltd.

	as a Lender

	BY: TCW Asset Management Company  as Investment Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Nora Olan

	 
	Name:
	Nora Olan

	 
	Title:
	Senior Vice President

	 
	 
	 

	By:
	/s/ Bibi Khan

	 
	Name:
	Bibi Khan

	 
	Title:
	Managing Director

	
			
	Hastings Mutual Insurance Company

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kathy News

	 
	Name:
	Kathy News 

	 
	Title:
	Senior Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Honeywell International Inc Master Retirement Trust

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kathy News

	 
	Name:
	Kathy News 

	 
	Title:
	Senior Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN CLO 2014-II LTD.

	as a Lender

	By: Apex Credit Partners LLC, as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN CLO 2015 LTD.

	as a Lender

	By: Apex Credit Partners LLC, as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN Fund V 2017 LLC

	as a Lender

	By: Apex Credit Partners LLC, as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN MM CLO 2014 LTD.

	as a Lender

	By: Apex Credit Partners LLC, as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN CLO 2014 LTD

	as a Lender

	By: Apex Credit Partners LLC, as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN CLO 2015-II LTD.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN CLO 2016 LTD.

	as a Lender

	By: Apex Credit Partners LLC, as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JFIN CLO 2017 LTD.

	as a Lender

	By: Apex Credit Partners LLC, as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morris Cohen 

	 
	Name:
	Morris Cohen 

	 
	Title:
	Vice President

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	JEFFERIES LEVERAGED CREDIT PRODUCTS, LLC

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Paul Loomis

	 
	Name:
	Paul Loomis

	 
	Title:
	Managing Director

	
			
	MAM CORPORATE LOAN ICAV

	as a Lender

	By: MARATHON ASSET MANAGEMENT, L.P. 
Its Investment Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Louis Hanover

	 
	Name:
	Louis Hanover

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	MARATHON CLO IX LTD.

	as a Lender

	By: MARATHON ASSET MANAGEMENT, L.P. 
as Portfolio Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Louis Hanover

	 
	Name:
	Louis Hanover

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Marathon CLO VI, Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Louis Hanover

	 
	Name:
	Louis Hanover

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	MARATHON CLO VII Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Louis Hanover

	 
	Name:
	Louis Hanover

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Marathon CLO VIII Ltd.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Louis Hanover

	 
	Name:
	Louis Hanover

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Metropolitan West Floating Rate Income Fund

	as a Lender

	BY: Metropolitan West Asset Management as Investment
Manager 

	 
	 
	 

	 
	 
	 

	By:
	/s/ Nora Olan 

	 
	Name:
	Nora Olan 

	 
	Title:
	Senior Vice President

	 
	 
	 

	By:
	/s/ Bibi Khan

	 
	Name:
	Bibi Khan

	 
	Title:
	Managing Director

	
			
	MIDTOWN ACQUISITIONS, L.P.,

	as a Lender

	By: Midtown Acquisitions GP LLC, its General Partner

	 
	 
	 

	 
	 
	 

	By:
	/s/ Morgan Blackwell

	 
	Name:
	Morgan Blackwell

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Mountain View CLO 2014-1 Ltd.

	as a Lender

	By:  Seix Investment Advisors LLC, as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ George Goudelias

	 
	Name:
	George Goudelias

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Mountain View CLO 2016-1 Ltd.

	as a Lender

	By:  Seix Investment Advisors LLC, as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ George Goudelias

	 
	Name:
	George Goudelias

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Mountain View CLO 2017-1 Ltd.

	as a Lender

	By:  Seix Investment Advisors LLC, as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ Joseph Carucci

	 
	Name:
	Joseph Carucci

	 
	Title:
	Vice President & Compliance Analyst

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Mountain View CLO IX Ltd.

	as a Lender

	By;  Seix Investment Advisors LLC, as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ George Goudelias

	 
	Name:
	George Goudelias

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Mountain View CLO X Ltd.

	as a Lender

	By:
	Seix Investment Advisors LLC, as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ George Goudelias

	 
	Name:
	George Goudelias

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Newfleet CLO 2016-1, Ltd.

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Providence Debt Fund III L.P.

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Providence Debt Fund III Master (Non-US) L.P.

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	QUAMVIS SCA SICAV-FIS: CMAB - SIF - Credit Multi Asset Pool B

	as a Lender

	By:
	Marathon Asset Management, L.P.

	Its:
	Sub-Investment Manager

	 
	 

	 
	 

	By:
	/s/ Louis Hanover

	 
	Name:
	Louis Hanover

	 
	Title:
	Authorized Signatory

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	RidgeWorth Funds - Seix Floating Rate High Income Fund

	as a Lender

	By:
	Seix Investment Advisors LLC, as Subadviser

	 
	 
	 

	 
	 
	 

	By:
	/s/ George Goudelias

	 
	Name:
	George Goudelias

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Safe Auto Insurance Company

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Kathy News

	 
	Name:
	Kathy News

	 
	Title:
	Senior Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	SEI Energy Debt Fund, LP.

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	SEI Institutional Investments Trust - High Yield Bond Fund

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	SEI Institutional Managed Trust - High Yield Bond Fund

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Seix Multi-Sector Absolute Return Fund L.P.

	as a Lender

	By:
	Seix Multi-Sector Absolute Return Fund GP LLC, in its capacity as sole general partner

	By:
	Seix Investment Advisors LLC, its sole member

	 
	 

	By:
	/s/ George Goudelias

	 
	Name:
	George Goudelias

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	AIG Flexible Credit Fund

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Balanced Income Plus Fund

	as a Lender

	By:
	Thrivent Asset Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Balanced Income Plus Portfolio

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Diversified Income Plus Fund

	as a Lender

	By:
	Thrivent Asset Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Diversified Income Plus Portfolio

	as a Lender

	By:
	Thrivent Financial for Lutherans

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Financial Defined Benefit Plan Trust

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Financial For Lutherans

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Growth and Income Plus Fund

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Growth and Income Plus Portfolio

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Moderate Allocation Fund

	as a Lender

	By:
	Thrivent Asset Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Moderate Allocation Portfolio

	as a Lender

	By:
	Thrivent Financial for Lutherans

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Moderately Aggressive Allocation Fund

	as a Lender

	By:
	Thrivent Asset Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Moderately Aggressive Allocation Portfolio

	as a Lender

	By:
	Thrivent Financial for Lutherans

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Moderately Conservative Allocation Fund

	as a Lender

	By:
	Thrivent Asset Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Moderately Conservative Allocation Portfolio

	as a Lender

	By:
	Thrivent Financial for Lutherans

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	THRIVENT MULTIDIMENSIONAL INCOME FUND

	as a Lender

	By: 
	Thrivent Asset Management, LLC

	Its Investment Adviser

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Opportunity Income Plus Fund

	as a Lender

	By: 
	Thrivent Asset Management, LLC

	 
	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Thrivent Opportunity Income Plus Portfolio

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Conrad Smith

	 
	Name:
	Conrad Smith

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	U.S. High Yield Bond Fund

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Todd Marsh

	 
	Name:
	Todd Marsh

	 
	Title:
	Authorized Signer

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	United Ohio Insurance Company

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Kathy News

	 
	Name:
	Kathy News

	 
	Title:
	Senior Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Valcour Opportunities Master Fund, Ltd.

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ John D'Angelo

	 
	Name:
	John D'Angelo

	 
	Title:
	Sr. Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Vermont Pension Investment Committee

	as a Lender

	 
	 

	 
	 
	 

	By:
	/s/ Kathy News

	 
	Name:
	Kathy News

	 
	Title:
	Senior Portfolio Manager

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Vibrant CLO II, Ltd.

	as a Lender

	By:
	DFG Investment Advisers, Inc., as Portfolio Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ Roberta Goss

	 
	Name:
	Roberta Goss

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Vibrant CLO III, Ltd.

	as a Lender

	By:
	DFG Investment Advisers, Inc.

	 
	 
	 

	 
	 
	 

	By:
	/s/ Roberta Goss

	 
	Name:
	Roberta Goss

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Vibrant CLO IV, Ltd.

	as a Lender

	By:
	DFG Investment Advisers, Inc., as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ Roberta Goss

	 
	Name:
	Roberta Goss

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Vibrant CLO V, Ltd.

	as a Lender

	By:
	DFG Investment Advisers, Inc., as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ Roberta Goss

	 
	Name:
	Roberta Goss

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Vibrant CLO VI, Ltd.

	as a Lender

	By:
	DFG Investment Advisers, Inc., as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ Roberta Goss

	 
	Name:
	Roberta Goss

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Vibrant CLO VII, Ltd.

	as a Lender

	By:
	DFG Investment Advisers, Inc., as Collateral Manager

	 
	 
	 

	 
	 
	 

	By:
	/s/ Roberta Goss

	 
	Name:
	Roberta Goss

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Global Multi Sector Income Fund

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Newfleet High Yield Fund

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Newfleet Multi-Sector Intermediate Bond Fund

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Newfleet Dynamic Credit ETF

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Newfleet Multi-Sector Unconstrained Bond ETF

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Newfleet Senior Floating Rate Fund

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Tactical Allocation Fund

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	Virtus Total Return Fund Inc.

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	VVIT: Virtus Newfleet Multi-Sector Intermediate Bond Series

	as a Lender

	 
	 
	 

	 
	 
	 

	By:
	/s/ Kyle Jennings

	 
	Name:
	Kyle Jennings

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	ZAIS CLO 1, Limited

	as a Lender

	ZAIS CLO 1, Limited

	 
	 

	 
	 

	By:
	/s/ Vincent Ingato

	 
	Name:
	Vincent Ingato

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	ZAIS CLO 2, Limited

	as a Lender

	ZAIS CLO 2, Limited

	 
	 

	 
	 

	By:
	/s/ Vincent Ingato

	 
	Name:
	Vincent Ingato

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	ZAIS CLO 3, Limited

	as a Lender

	ZAIS CLO 3, Limited

	 
	 

	 
	 

	By:
	/s/ Vincent Ingato

	 
	Name:
	Vincent Ingato

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	ZAIS CLO 5, Limited

	as a Lender

	By Zais Leveraged Loan Master Manager, LLC its collateral manager

	By:
	Zais Group, LLC, its sole member

	By:
	/s/ Vincent Ingato

	 
	Name:
	Vincent Ingato

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:
	 

	
			
	ZAIS CLO 6, Limited

	as a Lender

	By Zais Leveraged Loan Master Manager, LLC its collateral manager

	By:
	Zais Group, LLC, its sole member

	By:
	/s/ Vincent Ingato

	 
	Name:
	Vincent Ingato

	 
	Title:
	Managing Director

	 
	 
	 

	By:
	 

	 
	Name:
	 

	 
	Title:Exhibit

Exhibit 10.32
EXECUTION VERSION

FIRST AMENDMENT TO ASSET-BASED REVOLVING CREDIT AGREEMENT

THIS FIRST AMENDMENT TO ASSET-BASED REVOLVING CREDIT AGREEMENT (this “Amendment”) is made and entered into as of June 9, 2017, by and among CONTURA ENERGY, INC., a Delaware corporation (the “Company”), certain subsidiaries of the Company identified as borrowers under the Credit Agreement referred to below (together with the Company, each a “Borrower” and collectively, the “Borrowers”), the Lenders (as defined below) that are parties hereto, and CITIBANK, N.A., in its capacity as administrative agent (the “Administrative Agent”) and collateral agent (the “Collateral Agent”) for the Lenders. 

W I T N E S S E T H:

WHEREAS, the Borrowers, the several banks and other financial institutions party thereto (collectively, the “Lenders”), the Administrative Agent and the Collateral Agent are parties to that certain Asset-Based Revolving Credit Agreement, dated as of April 3, 2017 (as amended, supplemented and modified from time to time and in effect immediately prior to the date hereof, the “Credit Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement as amended hereby), pursuant to which the Lenders have made certain financial accommodations available to the Borrowers; and 

WHEREAS, the Borrowers have requested that the Lenders, the Administrative Agent and the Collateral Agent amend certain provisions of the Credit Agreement in order to permit the Company to make a one-time dividend, and subject to the terms and conditions hereof, the Lenders executing this Amendment are willing to do so; 

NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of which are acknowledged, the Borrowers, the Lenders executing this Amendment, the Administrative Agent and the Collateral Agent agree as follows:

1.Amendments to Credit Agreement.   

(a)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following defined terms therein in appropriate alphabetical order:

“‘Available Amount” means the “Available Amount” as defined in the Term Loan Credit Agreement as in effect on the First Amendment Effective Date.”

“‘First Amendment Effective Date” means June 9, 2017.”

(b)    Section 7.02(l) of the Credit Agreement is hereby amended and restated in its entirety as follows:  

“(l) additional Investments by the Company or any Restricted Subsidiary (i) in an aggregate amount not to exceed the greater of $40,000,000 and 8% of Consolidated Net Tangible Assets plus (ii) an amount equal to the Available Amount, so long as the Payment Conditions are satisfied at the time the relevant Investment is consummated.”

(c)    Section 7.06 of the Credit Agreement is hereby amended by amending and restating clause (e) in its entirety as follows: 

“(e) so long as no Event of Default shall have occurred and be continuing or would result therefrom and the Payment Conditions have been satisfied at the time such 

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Restricted Payment is made, the Company and its Subsidiaries may make Restricted Payments in an amount not to exceed (i) the remainder (if positive) of (1) $20,000,000 less (2) the aggregate amount of any Restricted Payment made pursuant to Section 7.06(n), plus (ii) the Available Amount;”

(d)    Section 7.06 of the Credit Agreement is hereby further amended by (i) deleting the word “and” at the end of clause (l) thereof; (ii) deleting the period at the end of clause (m) thereof and replacing it with “; and”; and (iii) inserting a new clause (n) at the end thereof as follows:

“(n) the Company may (i) no later than 45 days after the First Amendment Effective Date, declare and pay a one-time cash dividend or distribution from unencumbered cash on hand to its shareholder, (ii) no later than December 31, 2017, purchase, redeem or otherwise acquire Equity Interests issues by it, or (iii) any combination of the foregoing, in an aggregate amount for all such transactions not to exceed $150,000,000 so long the Payment Conditions have been satisfied at the time such Restricted Payment is made.” 

2.Effectiveness of Amendment. Notwithstanding any other provision of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is understood and agreed that the amendment contained herein shall not become effective, and the Borrowers shall have no rights under this Amendment, until the Administrative Agent shall have received:

(a)    this Amendment duly executed by the Borrowers, the Required Lenders, the Administrative Agent and the Collateral Agent;

(b)    a certificate signed by a Responsible Officer of the Company certifying that as of the effective date of this Amendment, (i) after giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects), and (ii) no Default or Event of Default has occurred and is continuing; 

(c)    an amendment to the Term Loan Credit Agreement in the form attached hereto as Exhibit A, duly executed by the Required Lenders (as defined in the Term Loan Credit Agreement) and the Borrowers and effective in accordance with its terms; and

(d)    reimbursement or payment of the costs and expenses of the Administrative Agent incurred in connection with the preparation, execution and delivery of this Amendment or otherwise outstanding under the Credit Agreement, including, without limitation, the reasonable fees and out-of-pocket expenses of outside counsel for the Administrative Agent.

3.Representations and Warranties.  To induce the Lenders, the Administrative Agent and the Collateral Agent to enter into this Amendment, each of the Loan Parties represents and warrants to the Lenders, the Administrative Agent and the Collateral Agent that: 

(a)    The execution, delivery and performance by such Loan Party of this Amendment are within its organizational powers and have been duly authorized by all necessary organizational and, if required, shareholder, partner or member action.  This Amendment has been duly executed and delivered by such Loan Party and constitutes a valid and binding obligation of such Loan Party, enforceable against it in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity.

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(b)    The execution, delivery and performance by such Loan Party of this Amendment (a) do not require any consent or approval of, registration or filing with, or any action by, any Governmental Authority, except those as have been obtained or made and are in full force and effect, (b) will not violate any Requirement of Law or any judgment, order or ruling of any Governmental Authority, in each case, applicable to such Loan Party, (c) will not violate the terms of such Loan Party’s Organizational Documents, (d) will not violate or result in a default under any Contractual Obligation of such Loan Party or any of its assets or give rise to a right thereunder to require any payment to be made by such Loan Party and (e) will not result in the creation or imposition of any Lien on any asset of such Loan Party, except Liens (if any) created under the Loan Documents.

(c)    After giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects), and no Default or Event of Default has occurred and is continuing as of the date hereof.

4.Reaffirmations and Acknowledgments.   Each Loan Party does hereby adopt, ratify, and confirm the Credit Agreement and the other Loan Documents, as amended hereby and its obligations thereunder. Each of the Loan Parties hereby 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 amended hereby, notwithstanding the amendments contained herein.   

5.Effect of Amendment.  Except as set forth expressly herein, all terms of the Credit Agreement, as amended hereby, and the other Loan Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Borrowers to the Lenders and the Administrative Agent.  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 the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.  Any reference in any Loan Document to the Credit Agreement (including “thereunder”, “thereof” or other words of like import referring to the Credit Agreement) shall be a reference to the Credit Agreement as amended by this Amendment.  This Amendment shall constitute a Loan Document for all purposes of the Credit Agreement.

6.Governing Law.   This Amendment and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the transactions contemplated hereby shall be governed by, and construed in accordance with, the law of the State of New York (without giving effect to the conflict of law principles thereof except for Sections 5-1401 and 5-1402 of the New York General Obligations Law) and all applicable federal laws of the United States of America. 

7.No Novation.  This Amendment is not intended by the parties to be, and shall not be construed to be, a novation of the Credit Agreement or an accord and satisfaction in regard thereto.

8.Counterparts.  This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of this Amendment by facsimile transmission or by electronic mail in pdf form shall be as effective as delivery of a manually executed counterpart hereof.

9.Costs and Expenses.  The Borrowers agree to pay all costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment which are payable pursuant to Section 11.04 of the Credit Agreement.

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10.Binding Nature.  This Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective successors, successors-in-titles, and assigns.

11.Entire Understanding.  This Amendment sets forth the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto.

[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

	
			
	BORROWERS:

	 
	 
	 

	CONTURA ENERGY, INC.

	 
	 
	 

	By:
	/s/ C. Andrew Eidson

	 
	Name:   
	C. Andrew Eidson

	 
	Title:   
	Executive Vice President, Chief Financial Officer and Treasurer

	 
	 
	 

	CONTURA ENERGY, LLC

	 
	 
	 

	By:
	/s/ C. Andrew Eidson

	 
	Name:   
	C. Andrew Eidson

	 
	Title:   
	Manager and President

	 
	 
	 

	CONTURA ENERGY SERVICES, LLC

	 
	 
	 

	By:
	/s/ C. Andrew Eidson

	 
	Name:   
	C. Andrew Eidson

	 
	Title:   
	Executive Vice President and Chief Financial Officer

	 
	 
	 

	CONTURA MINING HOLDING, LLC

	 
	 
	 

	By:
	/s/ C. Andrew Eidson

	 
	Name:   
	C. Andrew Eidson

	 
	Title:   
	Executive Vice President, Chief Financial Officer and Treasurer

[Signature Page to First Amendment to ABL Credit Agreement]

	
	
	EMERALD CONTURA, LLC

	DICKENSON-RUSSELL CONTURA, LLC

	NICHOLAS CONTURA, LLC

	CONTURA COAL RESOURCES, LLC

	CONTURA WYOMING LAND, LLC

	CONTURA COAL SALES, LLC

	POWER MOUNTAIN CONTURA, LLC

	CUMBERLAND CONTURA, LLC

	CONTURA PENNSYLVANIA LAND, LLC

	CONTURA FREEPORT, LLC

	CONTURA EUROPEAN MARKETING, LLC

	PARAMONT CONTURA, LLC

	CONTURA PENNSYLVANIA TERMINAL, LLC

	CONTURA CAPP LAND, LLC

	CONTURA COAL WEST, LLC

	CONTURA TERMINAL, LLC

	
			
	By:
	/s/ C. Andrew Eidson

	 
	Name:   
	C. Andrew Eidson

	 
	Title:   
	Vice President and Treasurer

[Signature Page to First Amendment to ABL Credit Agreement]

	
			
	CITIBANK, N.A., as Administrative Agent, Lender, 
L/C Issuer and Swingline Lender

	 
	 
	 

	By:
	/s/ Allister Chan

	 
	Name:   
	Allister Chan

	 
	Title:   
	Vice President

[Signature Page to First Amendment to ABL Credit Agreement]

	
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender and L/C Issuer

	 
	 
	 

	By:
	/s/ Doreen Barr

	 
	Name:   
	Doreen Barr

	 
	Title:   
	Authorized Signatory

	 
	 
	 

	By:
	/s/ Szymon Ordys

	 
	Name:   
	Szymon Ordys

	 
	Title:   
	Authorized Signatory

[Signature Page to First Amendment to ABL Credit Agreement]

	
			
	BMO HARRIS BANK N.A., as a Lender and L/C Issuer

	 
	 
	 

	By:
	/s/ Jason Hoefler

	 
	Name:   
	Jason Hoefler

	 
	Title:   
	Managing Director

[Signature Page to First Amendment to ABL Credit Agreement]

	
			
	JEFFERIES FINANCE LLC, as a Lender

	 
	 
	 

	By:
	/s/ J. Paul McDonnell

	 
	Name:   
	J. Paul McDonnell

	 
	Title:   
	Managing Director

[Signature Page to First Amendment to ABL Credit Agreement]

	
			
	UBS AG, STAMFORD BRANCH, as a Lender

	 
	 
	 

	By:
	/s/ Craig Pearson

	 
	Name:   
	Craig Pearson

	 
	Title:   
	Associate Director

	 
	 
	 

	By:
	/s/ Denise Bushee

	 
	Name:   
	Denise Bushee

	 
	Title:   
	Associate Director

[Signature Page to First Amendment to ABL Credit Agreement]

	
			
	WEBSTER BUSINESS CREDIT CORPORATION, as a Lender

	 
	 
	 

	By:
	/s/ Harvey Winter

	 
	Name:   
	Harvey Winter

	 
	Title:   
	SVP

[Signature Page to First Amendment to ABL Credit Agreement]

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