SEC Contract Filing

Filing Date: 2018-11-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>duk-20180930x10qxexx101.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="s3CAB973B2535E994049879074F74956D"></a></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.1</font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:24px;text-align:justify;padding-left:144px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">AMENDMENT NO. 1 TO THE TERM LOAN CREDIT AGREEMENT, dated as of September 13, 2018 (this &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), among, PIEDMONT NATURAL GAS COMPANY, INC. (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the LENDERS party hereto (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Lenders</font><font style="font-family:inherit;font-size:11pt;">&#8221;), PNC BANK, NATIONAL ASSOCIATION, BANK OF NEW YORK MELLON and KEYBANK, NATIONAL ASSOCIATION as Co-Documentation Agents and U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent.</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;">A.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Reference is made to the Term Loan Credit Agreement dated as of June 14, 2017, (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Existing Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), among, the Borrower, the Lenders party thereto (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Existing Lenders</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and U.S. Bank National Association as administrative agent for the Lenders (in such capacity, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Administrative Agent</font><font style="font-family:inherit;font-size:11pt;">&#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;">B.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The Borrower has requested that certain amendments be made to the Existing Credit Agreement, as more fully set forth herein (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Amendments</font><font style="font-family:inherit;font-size:11pt;">&#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;">C.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The Lenders party hereto have agreed to the amendments of the Existing Credit Agreement as set forth herein and as amended hereby (the Existing Credit Agreement as so amended, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Amended Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Accordingly, in consideration of the mutual agreements herein contained in this Agreement and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:2px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1. </font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Terms Generally</font><font style="font-family:inherit;font-size:11pt;">. (a) The rules of construction set forth in Article 1 of the Amended Credit Agreement shall apply </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">mutatis mutandis</font><font style="font-family:inherit;font-size:11pt;">&#32;to this Agreement. Capitalized terms used but not defined herein have the meanings assigned thereto in the Amended Credit Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:54px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b) As used in this Agreement, the following terms have the meanings specified below:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:2px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Amendment Effective Date</font><font style="font-family:inherit;font-size:11pt;">&#8221;</font><font style="font-family:inherit;font-size:11pt;">&#32;shall have the meaning assigned to such term in Section 5.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left