SEC Contract Filing

Filing Date: 2016-09-28

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d271485dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B></B>E<SMALL>XECUTION</SMALL> C<SMALL>OPY<B></B></SMALL><B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND AMENDMENT TO </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TERM LOAN CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS SECOND AMENDMENT TO TERM LOAN CREDIT AGREEMENT (this &#147;<U>Amendment</U>&#148;) is entered into as of September&nbsp;22, 2016, by and
among the Required Lenders (as defined in the Credit Agreement referred to below) and NUVERRA ENVIRONMENTAL SOLUTIONS, INC., a Delaware corporation (&#147;<U>Borrower</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Borrower, Wilmington Savings Fund Society, FSB, as Administrative Agent (&#147;<U>Agent</U>&#148;), and Lenders are parties to that
certain Term Loan Credit Agreement dated as of April&nbsp;15, 2016 (as amended, restated, modified or supplemented from time to time, the &#147;<U>Credit Agreement</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Required Lenders and Borrower have agreed to amend the Credit Agreement in certain respects. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the parties hereto agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Defined Terms</U>. Unless otherwise defined herein, capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to such terms in the Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Amendments to Credit Agreement</U>. In reliance upon the representations and
warranties of Borrower set forth in <U>Section&nbsp;5</U> below, and subject to the satisfaction of the conditions to effectiveness set forth in <U>Section&nbsp;4</U> below, the Credit Agreement is hereby amended as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Section&nbsp;6.15 of the Credit Agreement is hereby amended and restated in its entirety as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.15. Compensation. Borrower will not, and will not permit any of its Subsidiaries to pay or otherwise compensate Mark D.
Johnsrud (including in the form of a salary, or a bonus award or other incentive compensation, and regardless of whether such compensation is paid in cash or in kind) in his capacity as chief executive officer of the Borrower or otherwise, except
that, beginning on September&nbsp;22, 2016, Borrower and/or its Subsidiaries may, in the aggregate, award Mark D. Johnsrud an annual salary not exceeding $700,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Reaffirmation and Confirmation.</U> Borrower hereby ratifies, affirms, acknowledges and agrees that the Credit Agreement and the other
Loan Documents to which it is a party represent the valid, enforceable and collectible obligations of Borrower, and further acknowledges that there are no existing claims, defenses, personal or otherwise, or rights of setoff whatsoever with respect
to the Credit Agreement or any other Loan Document. Borrower hereby agrees that this Amendment in no way acts as a release or relinquishment of the Liens and rights securing payments of the Obligations. The Liens and rights securing payment of the
Obligations are hereby ratified and confirmed by Borrower in all respects. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Conditions to Effectiveness of Effective Date Amendments</U>. The amendments set forth in
<U>Section&nbsp;2</U> shall become effective upon the satisfaction of each of the following conditions precedent, in each case satisfactory to Agent in all respects (the &#147;<U>Effective Date</U>&#148;): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Agent shall have received a copy of this Amendment executed and delivered by Agent, the Lenders party hereto, and the Loan Parties; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing on the date hereof or as
of the Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Representations and Warranties</U>. In order to induce Agent and Lenders to enter into this Amendment,
Borrower hereby represents and warrants to Agent and Lenders that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) after giving effect to this Amendment, all representations and
warranties