SEC Contract Filing

Filing Date: 2019-05-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>4
<FILENAME>eva-20190331x10qxex105.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<div><a name="sBEE7176A8E5600FD1EB15B35AF1A9FCC"></a></div><div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Execution Version</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MAKE-WHOLE AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Make-Whole Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is entered into by and between Enviva Holdings, LP, a Delaware limited partnership (with its successors and permitted assigns, hereinafter called &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Payor</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Enviva, LP, a Delaware limited partnership (with its successors and assigns, hereinafter called &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Payee</font><font style="font-family:inherit;font-size:12pt;">&#8221;). Payor and Payee are collectively referred to as the&#160;&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221; and individually as a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Party</font><font style="font-family:inherit;font-size:12pt;">.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, pursuant to that certain Contribution Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Contribution Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) dated as of March 21, 2019 by and among Enviva Partners, LP (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">MLP</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Enviva Development Holdings, LLC (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">DevCo</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Payor, among other things, DevCo contributed to MLP the Class B Units in Enviva Wilmington Holdings, LLC (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Contributed Interests</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the sole member of Enviva Pellets Hamlet, LLC (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">HAM</font><font style="font-family:inherit;font-size:12pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, immediately following the contribution of the Contributed Interests to MLP, MLP contributed (i) 99.999% of the Contributed Interests to Payee, a wholly-owned subsidiary of MLP, and (ii) 0.001% of the Contributed Interests to Enviva GP, LLC, a Delaware limited liability company and the general partner of Payee (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Enviva GP, LLC</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and immediately upon receipt thereof, Enviva GP, LLC contributed 0.001% of the Contributed Interests to Payee; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, as an inducement to Payee&#8217;s consummation of the transactions contemplated by the Contribution Agreement, among other things, Payor is willing to pay to Payee the Make-Whole Payments (as defined below) and other payment described herein on the terms and subject to the conditions set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW THEREFORE</font><font style="font-family:inherit;font-size:12pt;">, in consideration of the premises set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Payor covenants and agrees as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Definitions</font><font sty