SEC Contract Filing

Filing Date: 2018-10-23

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d642290dex101.htm
<DESCRIPTION>EX-10.1
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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:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS <B>FIRST</B> <B>AMENDMENT TO CREDIT AGREEMENT </B>(this &#147;<U>Amendment</U>&#148;) is entered into as of October&nbsp;18, 2018 by <FONT
STYLE="white-space:nowrap">HI-CRUSH</FONT> PARTNERS LP, a limited partnership duly formed and existing under the laws of the State of Delaware (the &#147;<U>Borrower</U>&#148;), each of the undersigned Lenders and JPMORGAN CHASE BANK, N.A., as
administrative agent for the Lenders (in such capacity, the &#147;<U>Administrative Agent</U>&#148;) and as an Issuing Lender, and any other Issuing Lenders from time to time party thereto. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>R E C I T A L S </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;The Borrower, the Administrative Agent and the Lenders are parties to that certain Credit Agreement dated as of
August&nbsp;1, 2018 (the &#147;<U>Credit Agreement</U>&#148;), pursuant to which the Lenders and Issuing Lenders have made certain credit available to and on behalf of the Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;The Borrower has requested that Lenders constituting the Required Lenders waive compliance with Section&nbsp;7.1(n)
of the Credit Agreement with respect to any merger, investment, dissolution or similar corporate organizational transaction which results in the effective business combination of the Borrower and Proppants in which the Borrower is the surviving
entity (if applicable) and which is not currently permitted or contemplated in the definition of <FONT STYLE="white-space:nowrap">&#147;Hi-Crush</FONT> Proppants Event&#148; (the &#147;<U>Proppants Combination</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;The Borrower has requested and the Administrative Agent and Lenders constituting the Required Lenders have agreed to
make certain changes to the Credit Agreement as set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, to induce the Administrative
Agent and the Lenders party hereto to enter into this Amendment and in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, 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">Section&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Defined Terms</U>. Each capitalized term used herein but not
otherwise defined herein has the meaning given such term in the Credit Agreement, as amended by this Amendment. Unless otherwise indicated, all article, exhibit, section and schedule references in this Amendment refer to articles, exhibits, sections
and schedules of the Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment to Credit Agreement</U>. Clause (a)(ii) of the
definition of &#147;Change in Control&#148; contained in Section&nbsp;1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Permitted Holders or the Borrower shall fail to, directly or indirectly, own the greater of 50.1% and a
Controlling Percentage of the Equity Interests (including the Voting Securities) of the General Partner;&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver</U>. Solely in connection with the Proppants Combination, the Administrative Agent and the
Required Lenders party hereto hereby waive compliance with the provisions of Section&nbsp;5.13, Section&nbsp;6.4(e), Section&nbsp;7.1(c)(i) (solely with respect to any breach of Section&nbsp;6.4(e)), Section&nbsp;7.1(c)(ii) (solely with respect to
any breach of Section&nbsp;5.13) and Section&nbsp;7.1(n) of the Credit Agreement and any Default or Event of Default arising therefrom. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions Precedent</U>. Upon the date on which
each of the following conditions is satisfied (or waived in accordance with Section&nbsp;9.3 of the Credit Agreement) (such date, the &#147;<U>Satisfaction Date</U>&#148;), this Amendment shall be deemed effective (such date, the &#147;<U>First
Amendment Effective Date</U>&#148;): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Execution and Delivery</U>. The Administrative Agent shall have
received from the Cr