SEC Contract Filing

Filing Date: 2016-05-13

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d154323dex101.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><I>Execution Version</I></B> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>P<SMALL>ENN</SMALL>
V<SMALL>IRGINIA</SMALL> C<SMALL>ORPORATION</SMALL> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>R<SMALL>ESTRUCTURING</SMALL> S<SMALL>UPPORT</SMALL>
A<SMALL>GREEMENT</SMALL></U><SMALL></SMALL> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>May&nbsp;10, 2016 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>This Restructuring Support Agreement (together with the exhibits and schedules attached hereto, as each may be amended, restated,
supplemented, or otherwise <SUP STYLE="font-size:85%; vertical-align:top"></SUP>modified from time to time in accordance with the terms hereof, this &#147;<U>Agreement</U>&#148;),<SUP STYLE="font-size:85%; vertical-align:top">1</SUP><SUP
STYLE="font-size:85%; vertical-align:top"></SUP> dated as of May&nbsp;10, 2016, is entered into by and among: (i)&nbsp;Penn Virginia Corporation (&#147;<U>Penn Virginia</U>&#148;); Penn Virginia Holding Corporation; Penn Virginia MC Corporation;
Penn Virginia MC Energy L.L.C.; Penn Virginia MC Gathering Company L.L.C.; Penn Virginia MC Operating Company L.L.C.; Penn Virginia Oil&nbsp;&amp; Gas Corporation; Penn Virginia Oil&nbsp;&amp; Gas GP LLC; Penn Virginia Oil&nbsp;&amp; Gas LP LLC;
Penn Virginia Oil&nbsp;&amp; Gas, L.P.; Penn Virginia Resource Holdings Corp. (such subsidiaries and Penn Virginia, each a &#147;<U>PVA Entity</U>,&#148; and such subsidiaries together with Penn Virginia, collectively, the &#147;<U>PVA
Entities</U>&#148;); (ii)&nbsp;the lenders party to that certain Credit Agreement, dated as of September&nbsp;28, 2012 (as amended, restated, modified, supplemented, or replaced from time to time in accordance with its terms, the &#147;<U>RBL Credit
Facility Agreement</U>&#148;), by and among Penn Virginia Holding Corporation, as borrower, each of the guarantors party thereto, Wells Fargo Bank, N.A., as administrative agent and issuing bank (the &#147;<U>RBL Agent</U>&#148;), and the lenders
party thereto (the &#147;<U>RBL Lenders</U>&#148;) that are (and any RBL Lender that may become in accordance with <U>Section&nbsp;12</U> hereof) signatories hereto (collectively, solely in their capacity as RBL Lenders with respect to the holdings
of debt under the RBL Credit Facility identified below their respective names on the signature pages hereto, the &#147;<U>Consenting RBL Lenders</U>&#148;); (iii)&nbsp;the holders of notes (the &#147;<U>Noteholders</U>&#148;) issued pursuant to that
certain Senior Indenture, dated as of June&nbsp;15, 2009 (as amended, restated, modified, supplemented, or replaced from time to time, the &#147;<U>Indenture</U>&#148;), for the 7.250% Senior Notes due 2019 and the 8.500% Senior Notes due 2020 among
Penn Virginia, as issuer, each of the guarantors party thereto, Wilmington Savings Fund Society, FSB, as indenture trustee (the &#147;<U>Indenture Trustee</U>&#148;), that are (and any Noteholder that may become in accordance with
<U>Section&nbsp;12</U> hereof) signatories hereto (collectively, the &#147;<U>Consenting Noteholders</U>&#148;); and (iv)&nbsp;each of the DIP Lenders, the Backstop Parties, and the Exit Facility Lenders (each as defined below and, collectively with
the Consenting RBL Lenders and the Consenting Noteholders, the &#147;<U>Restructuring Support Parties</U>&#148;). This Agreement collectively refers to the PVA Entities and the Restructuring Support Parties as the &#147;<U>Parties</U>&#148; and each
individually as a &#147;<U>Party</U>.&#148; For the avoidance of doubt, the Indenture Trustee is not a Party to this Agreement. <B> </B></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Unless otherwise noted, capitalized terms used but not immediately defined have the meanings given to such terms elsewhere in this Agreement or in the Restructuring Term Sheet (including any exhibits thereto), as
applicable. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>RECITALS</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties have engaged in good faith, arm&#146;s-length negotiations regarding certain restructuring transactions (the
&#147;<U>Restructuring Transactions</U>&#148;) pursuant to the terms and conditions set forth in this Agreement, including a joint prearranged plan of reorganization for the PVA Entities reflecting the terms and conditions o