SEC Contract Filing

Filing Date: 2018-10-18

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d640873dex101.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:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Copy </I></B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OMNIBUS TERMINATION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This OMNIBUS TERMINATION AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of October&nbsp;18, 2018, is entered into by and among
InfraREIT, Inc., a Maryland corporation (&#147;<U>HIFR</U>&#148;), InfraREIT Partners, LP, a Delaware limited partnership (the &#147;<U>Partnership</U>&#148;), Sharyland Distribution&nbsp;&amp; Transmission Services, L.L.C., a Texas limited
liability company (&#147;<U>SDTS</U>&#148; and, together with HIFR and the Partnership, the &#147;<U>InfraREIT Entities</U>&#148;), Hunt Consolidated, Inc., a Delaware corporation (&#147;<U>HCI</U>&#148;), Hunt Transmission Services, L.L.C., a
Delaware limited liability company (&#147;<U>HTS</U>&#148;), Electricity Participant Partnership, L.L.C., a Delaware limited liability company (&#147;<U>EPP</U>&#148;), Hunt Utility Services, LLC, a Delaware limited liability company
(&#147;<U>HUS</U>&#148; and together with HCI, HTS and EPP, the &#147;<U>Hunt Entities</U>&#148;), and Sharyland Utilities, L.P., a Texas limited partnership (&#147;<U>Sharyland</U>&#148;). Each of the InfraREIT Entities, the Hunt Entities and
Sharyland are sometimes referred to in this Agreement individually as a &#147;<U>Party</U>&#148; or collectively as the &#147;<U>Parties</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used herein but not otherwise defined herein have the meanings set forth in the Merger Agreement (as defined below). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>,
concurrently with the execution and delivery of this Agreement, SDTS, Sharyland and Oncor Electric Delivery Company LLC, a Delaware limited liability company (&#147;<U>Oncor</U>&#148;), are entering into an Agreement and Plan of Merger (the
&#147;<U>Asset Exchange Agreement</U>&#148;) pursuant to which, among other things, at the closing of the transactions contemplated thereby (the &#147;<U>Closing</U>&#148;) and upon the terms and subject to the conditions set forth therein,
(i)&nbsp;Sharyland&#146;s equity interests in SDTS will be cancelled and (ii)&nbsp;SDTS and Sharyland will exchange certain transmission and distribution assets; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, concurrently with the execution and delivery of this Agreement, HIFR and the Partnership are entering into an Agreement and
Plan of Merger (the &#147;<U>Merger Agreement</U>&#148;) with Oncor, 1912 Merger Sub LLC, a Delaware limited liability company and a wholly-owned subsidiary of Oncor (&#147;<U>Merger Sub</U>&#148;), and Oncor T&amp;D Partners, LP, a Delaware limited
partnership and an indirect wholly-owned subsidiary of Oncor (&#147;<U>Merger Partnership</U>&#148;), pursuant to which, among other things, at the closing of the transactions contemplated thereby and upon the terms and subject to the conditions set
forth therein, (i)&nbsp;HIFR will be merged with and into Merger Sub and (ii)&nbsp;Merger Partnership will be merged with and into the Partnership, with the result that both Merger Sub and the Partnership will survive as indirect, wholly-owned
subsidiaries of Oncor; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Asset Exchange Agreement and the Merger Agreement contemplate the execution of this Agreement
and the transactions and arrangements contemplated hereby, including the termination of each of the agreements listed on <U>Exhibit A</U> hereto (the &#147;<U>Subject Agreements</U>&#148;) and each of the leases listed on <U>Exhibit B</U> hereto
(the &#147;<U>SU/SDTS Leases</U>&#148;), as well as the termination of any rights or obligations that survived the expiration or termination of any other lease between SDTS and Sharyland that had expired or was terminated in accordance with its
terms prior to the date hereof (together with the SU/SDTS Leases, the &#147;<U>Subject Leases</U>&#148;); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Management Agreement, dated as of January&nbsp;29, 2015 (as amended, the
&#147;<U>Management Agreement</U>&#148;), among HUS, the Partnership and HIFR, provides that (i)&nbsp;HIFR may elect not to renew the Management Agreement by delivering a notice of such election within certain time periods and (ii)&nbsp;in the event
of such election, the Partnership will be obligated to pay to HUS a termination fee in the amount specified therein (the &#147;<U>Termination Fee</U>&#148;); and </P>
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