SEC Contract Filing

Filing Date: 2016-06-16

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<P STYLE="margin: 0"><A HREF="fsep-8k_061016.htm">FS Energy and Power Fund 8-K</A></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right">EXECUTION COPY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>SECOND AMENDMENT TO AMENDED AND RESTATED
CREDIT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in">THIS SECOND AMENDMENT
TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as of June 10, 2016 (together with all exhibits and schedules hereto, this &ldquo;<U>Second
Amendment</U>&rdquo;), is entered into by and between FSEP TERM FUNDING, LLC, a Delaware limited liability company (the &ldquo;<U>Borrower</U>&rdquo;),
DEUTSCHE BANK AG, NEW YORK BRANCH (&ldquo;<U>DBNY</U>&rdquo;) as Administrative Agent (in such capacity, the &ldquo;<U>Administrative
Agent</U>&rdquo;) and as a lender and each other lender identified on the signature pages hereto (collectively, the &ldquo;<U>Lenders</U>&rdquo;
and each a &ldquo;<U>Lender</U>&rdquo;). Capitalized terms used herein and not otherwise defined herein have the meanings assigned
to such terms in the Credit Agreement described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>RECITALS:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify; text-indent: 1in">A.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.5in">The Borrower, DBNY
and the Lenders are parties to an Amended and Restated Credit Agreement dated as of June 11, 2014 by and among the Borrower, DBNY,
as Administrative Agent and a Lender and the other Lenders party thereto, as amended pursuant to that First Amendment to Amended
and Restated Credit Agreement dated as of June 11, 2015 (the &ldquo;<U>Credit Agreement</U>&rdquo; and, the Credit Agreement, as
amended by this Second Amendment, the &ldquo;<U>Amended Credit Agreement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify; text-indent: 1in">B.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.5in">The parties hereto
desire, among other things, to (i) extend the Scheduled Commitment Termination Date, (ii) modify certain of the terms regarding
extensions of credit, (iii) modify certain of the base margin requirements, (iv) increase the interest rate payable with respect
to the Loans and (v) decrease the Commitment of a Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in">NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify; text-indent: 1in">Section 1.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 2in"><U>Amendment of Credit
Agreement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in">Effective as of the
Second Amendment Closing Date (as defined below), the Credit Agreement is hereby amended as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.5in; text-align: justify; text-indent: 1in">Article 2 of
the Credit Agreement is hereby amended by adding the following new Section 2.05 thereto immediately following Section 2.04 thereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right">EXECUTION COPY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;Section
2.05 <I>Illegality of Lending</I>. If at any time during the term of this Agreement a Lender (the &ldquo;<B>Affected Lender</B>&rdquo;)
(a) receives a final, nonappealable order of an applicable court, tribunal or other administrative body of competent jurisdiction
or (b) an applicable Governmental Authority otherwise determines pursuant to any applicable law or regulation or interpretative
guidance thereof that it is unlawful for the Affected Lender to perform its obligations as contemplated by this Agreement (a &ldquo;<B>Lending
Prohibition</B>&rdquo;): then (x) the Affected Lender shall promptly notify the Administrative Agent upon becoming aware of that
event (which notice shall include a reference to such Lending Prohibition and