Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Section 5.01 Increased Costs 69 Section 5.02 Break Funding Payments 70 Section 5.03 Taxes 71 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 Section 5.05 Illegality 73 ARTICLE VI Conditions Precedent 74 Section 6.01 Effective Date 74 Section 6.02 Each Credit Event 76 ARTICLE VII Representations and Warranties 77 Section 7.01 Organization; Powers 77 Section 7.02 Authority; Enforceability 77 Section 7.03 Approvals; No Conflicts 77 Section 7.04 Financial Condition; No Material Adverse Effect 78 Section 7.05 Litigation 78 Section 7.06 Environmental Matters 78 Section 7.07 Compliance with the Laws and Agreements 79 Section 7.08 Investment Company Act 79 Section 7.09 Taxes 79 Section 7.10 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 Section 7.12 Insurance 80 Section 7.13 Location of Business and Offices 80 Section 7.14 Properties; Title, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 Section 7.17 Status As Senior Indebtedness 83 Section 7.18 Solvency 83 Section 7.19 Priority; Security Matters 83 ARTICLE VIII Affirmative Covenants 84 Section 8.01 Financial Statements; Other Information 84 Section 8.02 Notices of Material Events 86 Section 8.03 Existence; Conduct of Business 87 Section 8.04 Payment of Obligations 87 Section 8.05 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 Section 8.07 Books and Records; Inspection Rights 88 Section 8.08 Compliance with Laws 88 Section 8.09 Environmental Matters 88 Section 8.10 Further Assurances 89 Section 8.11 Reserve Reports 90 Section 8.12 Title Information 92 Section 8.13 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 ERISA and Benefit Plan Compliance 96 Section 8.15 Unrestricted Subsidiaries 97 Section 8.16 Section 1031 Exchange 97 Section 8.17 Use of Proceeds 98 Section 8.18 Fiscal Year 98 ARTICLE IX Negative Covenants 98 Section 9.01 Financial Covenants 98 Section 9.02 Debt 98 Section 9.03 Liens 101 Section 9.04 Dividends and Distributions 103 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 Nature of Business; International Operations 108 Section 9.09 Mergers, Etc 108 Section 9.10 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Section 9.11 Transactions with Affiliates 112 Section 9.12 Negative Pledge Agreements; Dividend Restrictions 112 Section 9.13 Swap Agreements 112 Section 9.14 Ownership of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 ARTICLE X Events of Default; Remedies 113 Section 10.01 Events of Default 113 Section 10.02 Remedies 116 ARTICLE XI The Agents 117 Section 11.01 Appointment; Powers 117 Section 11.02 Duties and Obligations of Administrative Agent 117 Section 11.03 Action by Administrative Agents 118 Section 11.04 Reliance by Administrative Agents 119 Section 11.05 Subagents 119 Section 11.06 Resignation of Administrative Agents 119 Section 11.07 Agents as Lenders 120 Section 11.08 No Reliance 120 Section 11.09 Administrative Agent May File Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII Miscellaneous 122 Section 12.01 Notices 122 Section 12.02 Waivers; Amendments 123 Section 12.03 Expenses, Indemnity; Damage Waiver 124 Section 12.04 Successors and Assigns 127 Section 12.05 Survival; Revival; Reinstatement 130 Section 12.06 Counterparts; Integration; Effectiveness 131 Section 12.07 Severability 131 Section 12.08 Right of Setoff 132 Section 12.09 GOVERNING LAW; JURISDICTION 132 Section 12.10 Headings 133 Section 12.11 Confidentiality 133 Section 12.12 Interest Rate Limitation 134 Section 12.13 EXCULPATION PROVISIONS 135 Section 12.14 Collateral Matters; Swap Agreements 135 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 22, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Illegality; Defaulting Lenders 44 Section 5.01 Increased Costs 69 44 Section 5.02 Break Funding Payments 70 45 Section 5.03 Taxes 71 46 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 Obligations 47 Section 5.05 Illegality 73 48 Section 5.06 Defaulting Lenders 48 ARTICLE VI Conditions Precedent 74 49 Section 6.01 Effective Date 74 Conditions to Effectiveness 49 Section 6.02 Each Credit Event 76 51 Section 6.03 Condition Subsequent 52 ARTICLE VII Representations and Warranties 77 52 Section 7.01 Organization; Powers 77 52 Section 7.02 Authority; Enforceability 77 53 Section 7.03 Approvals; No Conflicts 77 53 Section 7.04 Financial Condition; No Material Adverse Effect 78 Change 53 Section 7.05 Litigation 78 54 Section 7.06 Environmental Matters 78 54 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 55 Section 7.08 Investment Company Act 79 55 Section 7.09 Taxes 79 56 Section 7.10 ERISA 56 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 56 Section 7.12 Insurance 80 57 Section 7.13 Restriction on Liens 57 Section 7.14 Subsidiaries 57 Section 7.15 Location of Business and Offices 80 57 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 57 Section 7.17 Status As Senior Indebtedness 83 Maintenance of Properties 58 Section 7.18 Solvency 83 Gas Imbalances, Prepayments 59 Section 7.19 Priority; Security Matters 83 Marketing of Production 59 Section 7.20 Swap Agreements 59 Section 7.21 Use of Loans and Letters of Credit 59 Section 7.22 Solvency 60 ARTICLE VIII Affirmative Covenants 84 60 Section 8.01 Financial Statements; Ratings Change; Other Information 84 60 Section 8.02 Notices of Material Events 86 62 Section 8.03 Existence; Conduct of Business 87 63 Section 8.04 Payment of Obligations 87 63 Section 8.05 Performance of Obligations under Loan Documents 63 Section 8.06 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 63 Section 8.07 Insurance 64 Section 8.08 Books and Records; Inspection Rights 88 64 Section 8.08 8.09 Compliance with Laws 88 64 Section 8.09 8.10 Environmental Matters 88 65 Section 8.10 8.11 Further Assurances 89 65 Section 8.11 8.12 Reserve Reports 90 66 Section 8.12 8.13 Title Information 92 Section 8.13 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 67 Section 8.14 ERISA and Benefit Plan Compliance 96 Additional Collateral 68 Section 8.15 Unrestricted Subsidiaries 97 ERISA Compliance 68 Section 8.16 Section 1031 Exchange 97 New Subsidiary Requirements 68 Section 8.17 Use Establishment and Maintenance of Proceeds 98 Section 8.18 Fiscal Year 98 Accounts 69 ARTICLE IX Negative Covenants 98 69 Section 9.01 Financial Covenants 98 69 Section 9.02 Debt 98 70 Section 9.03 Liens 101 70 Section 9.04 Dividends and Distributions 103 Restricted Payments 71 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 71 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 9.06 Nature of Business; International Operations 108 72 Section 9.07 Limitation on Leases 72 Section 9.08 Proceeds of Notes/Loans 73 Section 9.09 Sale or Discount of Receivables 73 Section 9.10 Mergers, Etc 108 Etc. 73 Section 9.10 9.11 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Assets 73 Section 9.11 9.12 Environmental Matters 74 Section 9.13 Transactions with Affiliates 112 74 Section 9.12 9.14 Subsidiaries 75 Section 9.15 Negative Pledge Agreements; Dividend Restrictions 112 75 Section 9.13 9.16 Gas Imbalances, Take-or-Pay or Other Prepayments 76 Section 9.17 Swap Agreements 112 76 Section 9.14 Ownership of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 9.18 Sale and Leaseback Transactions 77 ARTICLE X Events of Default; Remedies 113 77 Section 10.01 Events of Default 113 77 Section 10.02 Remedies 116 79 ARTICLE XI The Agents 117 Administrative Agent 80 Section 11.01 Appointment; Powers 117 80 Section 11.02 Duties and Obligations of Administrative Agent 117 80 Section 11.03 Action by Administrative Agents 118 Agent 81 Section 11.04 Reliance by Administrative Agents 119 Agent 81 Section 11.05 Subagents 119 82 Section 11.06 Resignation or Removal of Administrative Agents 119 Agent 82 Section 11.07 Agents Administrative Agent as Lenders 120 Lender 82 Section 11.08 No Reliance 120 82 Section 11.09 Administrative Agent May File Authority to Release Collateral and Liens 83 Section 11.10 Filing of Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 83 ARTICLE XII Miscellaneous 122 84 Section 12.01 Notices 122 84 Section 12.02 Waivers; Amendments 123 85 Section 12.03 Expenses, Indemnity; Damage Waiver 124 86 Section 12.04 Successors and Assigns 127 88 Section 12.05 Survival; Revival; Reinstatement 130 91 Section 12.06 Counterparts; Integration; Effectiveness 131 91 Section 12.07 Severability 131 92 Section 12.08 Right of Setoff 132 92 Section 12.09 GOVERNING LAWGoverning Law; JURISDICTION 132 Jurisdiction; Consent to Service of Process 92 Section 12.10 Headings 133 93 Section 12.11 Confidentiality 133 93 Section 12.12 Interest Rate Limitation 134 Exculpation Provisions 94 Section 12.13 EXCULPATION PROVISIONS 135 No Third Party Beneficiaries 94 Section 12.14 Collateral Matters; Swap Agreements 135 95 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA US Patriot Act Notice 136 95 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 12.16 Interest Rate Limitation 95 Annex I 1 List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F E Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors 6.03 Title Opinion Properties Schedule 3.05 Grandfathered Letters of Credit 7.01 Corporate Organizational Chart Schedule 7.11 Subsidiaries and Partnerships; Unrestricted 7.05 Litigation Schedule 7.14 Subsidiaries Schedule 7.12 Insurance 7.16 Title Exceptions to Properties Schedule 7.18 Gas Imbalances Schedule 7.19 Marketing Contracts Schedule 7.20 Swap Agreements Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 9.05 Investments Schedule 9.08 Nature of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT This Credit Agreement, dated as of December 2224, 2011 2010 (as amended, modified, supplemented or restated from time to time, this the “AgreementEffective Date”), is among QUICKSILVER RESOURCES INC.BLACK ELK ENERGY OFFSHORE OPERATIONS, LLC, a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada Texas limited liability company (the “Borrower”); , each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A.CAPITAL ONE, Toronto BranchN.A. (in its individual capacity, “Capital One”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Illegality; Defaulting Lenders 43 Section 5.01 Increased Costs 69 43 Section 5.02 Break Funding Payments 70 44 Section 5.03 Taxes 71 44 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 Obligations 46 Section 5.05 Illegality 73 47 Section 5.06 Defaulting Lenders 47 ARTICLE VI Conditions Precedent 74 48 Section 6.01 Effective Date 74 Conditions to Effectiveness 48 Section 6.02 Subsequent Borrowing Base Increase Date 51 Section 6.03 Each Credit Event 76 53 ARTICLE VII Representations and Warranties 77 54 Section 7.01 Organization; Powers 77 54 Section 7.02 Authority; Enforceability 77 54 Section 7.03 Approvals; No Conflicts 77 54 Section 7.04 Financial Condition; No Material Adverse Effect 78 Change 55 Section 7.05 Litigation 78 55 Section 7.06 Environmental Matters 78 56 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 57 Section 7.08 Investment Company Act 79 57 Section 7.09 Taxes 79 57 Section 7.10 ERISA 57 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 58 Section 7.12 Insurance 80 58 Section 7.13 Restriction on Liens 58 Section 7.14 Subsidiaries 59 Section 7.15 Location of Business and Offices 80 59 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 59 Section 7.17 Status As Senior Indebtedness 83 Maintenance of Properties 60 Section 7.18 Solvency 83 Gas Imbalances, Prepayments 60 Section 7.19 Priority; Security Matters 83 Marketing of Production 61 Section 7.20 Swap Agreements 61 Section 7.21 Use of Loans and Letters of Credit 61 Section 7.22 Solvency 61 ARTICLE VIII Affirmative Covenants 84 61 Section 8.01 Financial Statements; Ratings Change; Other Information 84 62 Section 8.02 Notices of Material Events 86 64 Section 8.03 Existence; Conduct of Business 87 65 Section 8.04 Payment of Obligations 87 65 Section 8.05 Performance of Obligations under Loan Documents 65 Section 8.06 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 65 Section 8.07 Insurance 66 Section 8.08 Books and Records; Inspection Rights 88 66 Section 8.08 8.09 Compliance with Laws 88 66 Section 8.09 8.10 Environmental Matters 88 66 Section 8.10 8.11 Further Assurances 89 67 Section 8.11 8.12 Reserve Reports 90 68 Section 8.12 8.13 Title Information 92 Section 8.13 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 69 Section 8.14 ERISA and Benefit Plan Compliance 96 Additional Collateral 70 Section 8.15 Unrestricted Subsidiaries 97 ERISA Compliance 70 Section 8.16 Section 1031 Exchange 97 Section 8.17 Use of Proceeds 98 Section 8.18 Fiscal Year 98 New Subsidiary Requirements 70 ARTICLE IX Negative Covenants 98 71 Section 9.01 Financial Covenants 98 71 Section 9.02 Debt 98 72 Section 9.03 Liens 101 73 Section 9.04 Dividends and Distributions 103 Restricted Payments 73 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 74 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 9.06 Nature of Business; International Operations 108 76 Section 9.07 Limitation on Leases 76 Section 9.08 Proceeds of Notes/Loans 77 Section 9.09 Sale or Discount of Receivables 77 Section 9.10 Mergers, Etc 108 77 Section 9.10 9.11 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Assets 77 Section 9.11 9.12 Environmental Matters 78 Section 9.13 Transactions with Affiliates 112 78 Section 9.12 9.14 Subsidiaries 79 Section 9.15 Subsidiary Obligations and Preferred Stock 79 Section 9.16 Negative Pledge Agreements; Dividend Restrictions 112 79 Section 9.13 9.17 Gas Imbalances, Take-or-Pay or Other Prepayments 79 Section 9.18 Swap Agreements 112 80 Section 9.14 Ownership of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 9.19 Sale and Leaseback Transactions 81 ARTICLE X Events of Default; Remedies 113 81 Section 10.01 Events of Default 113 81 Section 10.02 Remedies 116 83 ARTICLE XI The Agents 117 Administrative Agent 84 Section 11.01 Appointment; Powers 117 84 Section 11.02 Duties and Obligations of Administrative Agent 117 84 Section 11.03 Action by Administrative Agents 118 Agent 84 Section 11.04 Reliance by Administrative Agents 119 Agent 85 Section 11.05 Subagents 119 85 Section 11.06 Resignation or Removal of Administrative Agents 119 Agent 86 Section 11.07 Agents Administrative Agent as Lenders 120 Lender 86 Section 11.08 No Reliance 120 86 Section 11.09 Administrative Agent May File Proofs of Claim 120 Authority to Release Collateral and Liens 87 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The ArrangersArranger, the Syndication Agent and the Co-Documentation Agents 121 87 Section 11.11 Filing of Proofs of Claim 87 ARTICLE XII Miscellaneous 122 88 Section 12.01 Notices 122 88 Section 12.02 Waivers; Amendments 123 89 Section 12.03 Expenses, Indemnity; Damage Waiver 124 90 Section 12.04 Successors and Assigns 127 92 Section 12.05 Survival; Revival; Reinstatement 130 95 Section 12.06 Counterparts; Integration; Effectiveness 131 95 Section 12.07 Severability 131 96 Section 12.08 Right of Setoff 132 96 Section 12.09 GOVERNING LAWGoverning Law; JURISDICTION 132 Jurisdiction; Consent to Service of Process 96 Section 12.10 Headings 133 97 Section 12.11 Confidentiality 133 97 Section 12.12 Interest Rate Limitation 134 Exculpation Provisions 98 Section 12.13 EXCULPATION PROVISIONS 135 No Third Party Beneficiaries 98 Section 12.14 Collateral Matters; Swap Agreements 135 99 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 99 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 12.16 Interest Rate Limitation 99 Annex I 1 List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 F-1 Form of Security Instruments Agreement Exhibit E-2 F-2 Form of Guaranty Agreement Exhibit F G Form of Assignment and Assumption Exhibit G H Form of Pledge New Lender Agreement Exhibit I Form of Maximum Credit Amount Increase Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; 1.01 Additional Unrestricted Subsidiaries as of the Effective Date Schedule 7.12 Insurance 7.01 Corporate Organizational Chart Schedule 7.05 Litigation Schedule 7.14 Subsidiaries Schedule 7.16 Properties Schedule 7.18 Gas Imbalances Schedule 7.19 Marketing Contracts Schedule 7.20 Swap Agreements Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 9.05 Investments Schedule 9.08 Nature of Business 9.16 PRC Williston LLC Agreement THIS SECOND AMENDED AND RESTATED CREDIT AGREEMENT AGREEMENT, dated as of December 22April 13, 2011 (as amended, modified, supplemented or restated from time to time, this the “AgreementEffective Date”), is among QUICKSILVER MAGNUM HUNTER RESOURCES INC.CORPORATION, a Delaware corporation (the “ParentBorrower”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A.BANK OF MONTREAL (in its individual capacity, Toronto Branch“BOM”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, CAPITAL ONE, N.A., as global administrative agent for the LendersSyndication Agent and AMEGY BANK NATIONAL ASSOCIATION, KEYBANK NATIONAL ASSOCIATION and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIAUBS SECURITIES LLC, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 58 Section 5.01 Increased Costs 69 58 Section 5.02 Break Funding Payments 70 59 Section 5.03 Taxes 71 60 Section 5.04 Mitigation ObligationsDesignation of Different Lending Office; Replacement of Lenders 72 63 Section 5.05 Illegality 73 64 ARTICLE VI VI. Conditions Precedent 74 64 Section 6.01 Effective Date 74 64 Section 6.02 Each Credit Event 76 67 ARTICLE VII VII. Representations and Warranties 77 67 Section 7.01 Organization; Powers 77 67 Section 7.02 Authority; Enforceability 77 68 Section 7.03 Approvals; No Conflicts 77 68 Section 7.04 Financial ConditionPosition; No Material Adverse Effect 78 68 Section 7.05 Litigation 78 68 Section 7.06 Environmental Matters 78 69 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 69 Section 7.08 Investment Company Act 79 69 Section 7.09 Taxes 79 69 Section 7.10 ERISA 70 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 70 Section 7.12 Insurance 80 70 Section 7.13 Restriction on Liens 71 Section 7.14 Subsidiaries 71 Section 7.15 Location of Business and Offices 80 71 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 71 Section 7.17 Status As Senior Indebtedness 83 Maintenance of Properties 72 Section 7.18 Solvency 83 Gas Imbalances, Prepayments 72 Section 7.19 Priority; Marketing of Production 72 Section 7.20 Swap Agreements 72 Section 7.21 Use of Loans and Letters of Credit 73 Section 7.22 Solvency 73 Section 7.23 Affected Financial Institutions 73 Section 7.24 Anti-Corruption, AML and Sanctions 73 Section 7.25 Accounts 73 Section 7.26 Security Matters 83 Instruments 73 Section 7.27 International Operations 74 Section 7.28 Casualty Events 74 Section 7.29 Beneficial Ownership Certification 74 Section 7.30 Senior Debt Status 74 ARTICLE VIII VIII. Affirmative Covenants 84 74 Section 8.01 Financial Statements; Other Information 84 74 Section 8.02 Notices of Material Events 86 77 Section 8.03 Existence; Conduct of Business 87 78 Section 8.04 Payment of Obligations 87 78 Section 8.05 Performance of Obligations under Loan Documents 78 Section 8.06 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 78 Section 8.07 Insurance 79 Section 8.08 Books and Records; Inspection Rights 88 79 Section 8.08 8.09 Compliance with Laws 88 79 Section 8.09 8.10 Environmental Matters 88 79 Section 8.10 8.11 Further Assurances 89 80 Section 8.11 8.12 Reserve Reports 90 80 Section 8.12 8.13 Title Information 92 81 Section 8.13 8.14 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 ERISA and Benefit Plan Compliance 96 Guarantors 82 Section 8.15 Unrestricted Subsidiaries 97 ERISA Event 82 Section 8.16 Section 1031 Exchange 97 Post-Closing Obligations 83 Section 8.17 Use of Proceeds 98 Section 8.18 Fiscal Year 98 Accounts 83 ARTICLE IX IX. Negative Covenants 98 83 Section 9.01 Financial Covenants 98 83 Section 9.02 Debt 98 83 Section 9.03 Liens 101 85 Section 9.04 Dividends Dividends, Distributions and Distributions 103 Redemptions 85 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 86 Section 9.06 Nature of Business 88 Section 9.07 Designation and Conversion Proceeds of Restricted and Unrestricted Subsidiaries 108 Loans 88 Section 9.08 Nature of Business; International Operations 108 ERISA Compliance 88 Section 9.09 Sale or Discount of Receivables 88 Section 9.10 Mergers, Etc 108 89 Section 9.10 Sale 9.11 Disposition of Properties and Termination of Oil and Gas Swap Agreements 109 90 Section 9.11 9.12 Environmental Matters 91 Section 9.13 Transactions with Affiliates 112 91 Section 9.12 9.14 Negative Pledge Agreements; Dividend Restrictions 112 92 Section 9.13 9.15 Gas Imbalances, Take-or-Pay or Other Prepayments 93 Section 9.16 Swap Agreements 112 93 Section 9.14 Ownership of Restricted 9.17 [Reserved] 95 Section 9.18 Subsidiaries 113 95 Section 9.15 Amendments 9.19 Account Control Agreements 95 Section 9.20 Certain Restrictions with respect to Unrestricted Subsidiaries 95 Section 9.21 Sale and Leaseback Transactions 95 Section 9.22 Organizational Documents 113 Documents; Fiscal Year End 95 Section 9.23 Limitation on Leases 95 Section 9.24 Marketing Activities 96 ARTICLE X X. Events of Default; Remedies 113 96 Section 10.01 Events of Default 113 96 Section 10.02 Remedies 116 97 Section 10.03 Disposition of Proceeds 98 Section 10.04 Credit Bidding 99 ARTICLE XI XI. The Agents 117 99 Section 11.01 Appointment; Powers 117 99 Section 11.02 Duties and Obligations of Administrative Agent 117 the Agents 99 Section 11.03 Action by Administrative the Agents 118 100 Section 11.04 Reliance by Administrative the Agents 119 100 Section 11.05 Subagents 119 101 Section 11.06 Resignation of Administrative Agents 119 Agent and Collateral Agent 101 Section 11.07 Agents as Administrative Agent, Collateral Agent and Lenders 120 101 Section 11.08 No Reliance 120 101 Section 11.09 Administrative Agent May File Proofs of Claim 120 102 Section 11.10 Authority Of Administrative of Collateral Agent To to Release Collateral And and Liens 121 102 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 Arrangers 102 Section 11.12 Disqualified Institutions 102 Section 11.13 Erroneous Payments 103 ARTICLE XII XII. Miscellaneous 122 104 Section 12.01 Notices 122 104 Section 12.02 Waivers; Amendments 123 105 Section 12.03 Expenses, Indemnity; Damage Waiver 124 107 Section 12.04 Successors and Assigns 127 110 Section 12.05 Survival; Revival; Reinstatement 130 112 Section 12.06 Counterparts; Integration; Effectiveness 131 113 Section 12.07 Severability 131 114 Section 12.08 Right of Setoff 132 114 Section 12.09 GOVERNING LAWGoverning Law; JURISDICTION 132 Jurisdiction; Consent to Service of Process 114 Section 12.10 Headings 133 115 Section 12.11 Confidentiality 133 115 Section 12.12 Interest Rate Limitation 134 116 Section 12.13 EXCULPATION PROVISIONS 135 Exculpation Provisions 116 Section 12.14 Collateral Matters; Swap Agreements 135 116 Section 12.15 No Third Party Beneficiaries 136 117 Section 12.16 USA Patriot Act and Beneficial Ownership Notice 136 117 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 117 Section 12.18 Flood Insurance Provisions 117 Section 12.19 Acknowledgement and Consent to Bail-In of Affected Financial Institutions 118 Section 12.20 Releases 118 Section 12.21 [Reserved] 119 Section 12.22 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Credit Agreement 138 119 Section 12.23 Certain ERISA Matters 120 Section 12.24 Acknowledgment Regarding Any Supported QFCs 120 iv Annex I List Schedule of Maximum Credit Amounts Elected Commitments and Term Commitments Exhibit A A-1 Form of Revolving Note Exhibit A-2 Form of Term Note Exhibit B Form of Compliance Certificate Exhibit C Form of Guaranty and Collateral Agreement Exhibit D Form of Assignment and Assumption Exhibit E Form of Borrowing Request Exhibit C F Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Reserve Report Certificate Exhibit H Form of Solvency Certificate Exhibit I-1 Form of U.S. Tax Compliance Certificate (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) Exhibit I-2 Form of U.S. Tax Compliance Certificate (For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) Exhibit I-3 Form of U.S. Tax Compliance Certificate (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) Exhibit I-4 Form of U.S. Tax Compliance Certificate (For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes) Exhibit J Form of Prepayment/Cancellation Notice Schedule 1.02 Initial Guarantors 7.05 Litigation Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 7.14 Subsidiaries and Partnerships; Unrestricted Subsidiaries Location of Businesses and Offices Schedule 7.12 Insurance 7.18 Gas Imbalances Schedule 7.19 Marketing Contracts Schedule 7.20 Swap Agreements Schedule 7.25 Deposit Accounts Schedule 7.26 Mortgage Jurisdictions Schedule 8.16 Post-Closing Obligations Schedule 9.02 Existing Debt Closing Date Indebtedness Schedule 9.03 Closing Date Liens Schedule 9.06 9.05 Closing Date Investments Schedule 9.08 Nature of Business 9.13 Closing Date Affiliate Transaction THIS THIRD AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 22June 7, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”)2022, is among QUICKSILVER RESOURCES INC.Northern Oil and Gas, Inc., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANKand Xxxxx Fargo Bank, N.A.National Association (in its individual capacity, Toronto Branch“Xxxxx Fargo”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative ) and collateral agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Collateral Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Illegality; Defaulting Lenders 38 Section 5.01 Increased Costs 69 38 Section 5.02 Break Funding Payments 70 39 Section 5.03 Taxes 71 40 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 Obligations 41 Section 5.05 Illegality 73 42 Section 5.06 Defaulting Lenders 42 ARTICLE VI Conditions Precedent 74 44 Section 6.01 Effective Date 74 Conditions to Effectiveness 44 Section 6.02 Each Credit Event 76 46 ARTICLE VII Representations and Warranties 77 47 Section 7.01 Organization; Powers 77 Section 7.02 Authority00 Xxxxxxx 0.00 Xxxxxxxxx; Enforceability 77 47 Section 7.03 Approvals; No Conflicts 77 47 Section 7.04 Financial Condition; No Material Adverse Effect 78 Change 48 Section 7.05 Litigation 78 48 Section 7.06 Environmental Matters 78 48 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 49 Section 7.08 Investment Company Act 79 50 Section 7.09 Taxes 79 50 Section 7.10 ERISA 50 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 51 Section 7.12 Insurance 80 51 Section 7.13 Restriction on Liens 51 Section 7.14 Subsidiaries 51 Section 7.15 Location of Business and Offices 80 52 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 52 Section 7.17 Status As Senior Indebtedness 83 Section 7.18 Solvency 83 Section 7.19 Priority; Security Matters 83 ARTICLE VIII Affirmative Covenants 84 Section 8.01 Financial Statements; Other Information 84 Section 8.02 Notices of Material Events 86 Section 8.03 Existence; Conduct of Business 87 Section 8.04 Payment of Obligations 87 Section 8.05 Operation and Maintenance of Properties 87 53 Section 8.06 Insurance 88 7.18 Gas Imbalances, Prepayments 53 Section 8.07 Books and Records; Inspection Rights 88 7.19 Marketing of Production 53 Section 8.08 Compliance with Laws 88 7.20 Swap Agreements 54 Section 8.09 Environmental Matters 88 Section 8.10 Further Assurances 89 Section 8.11 Reserve Reports 90 Section 8.12 Title Information 92 Section 8.13 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 ERISA and Benefit Plan Compliance 96 Section 8.15 Unrestricted Subsidiaries 97 Section 8.16 Section 1031 Exchange 97 Section 8.17 7.21 Use of Proceeds 98 Section 8.18 Fiscal Year 98 ARTICLE IX Negative Covenants 98 Section 9.01 Financial Covenants 98 Section 9.02 Debt 98 Section 9.03 Liens 101 Section 9.04 Dividends and Distributions 103 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 Nature of Business; International Operations 108 Section 9.09 Mergers, Etc 108 Section 9.10 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Section 9.11 Transactions with Affiliates 112 Section 9.12 Negative Pledge Agreements; Dividend Restrictions 112 Section 9.13 Swap Agreements 112 Section 9.14 Ownership of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 ARTICLE X Events of Default; Remedies 113 Section 10.01 Events of Default 113 Section 10.02 Remedies 116 ARTICLE XI The Agents 117 Section 11.01 Appointment; Powers 117 Section 11.02 Duties and Obligations of Administrative Agent 117 Section 11.03 Action by Administrative Agents 118 Section 11.04 Reliance by Administrative Agents 119 Section 11.05 Subagents 119 Section 11.06 Resignation of Administrative Agents 119 Section 11.07 Agents as Lenders 120 Section 11.08 No Reliance 120 Section 11.09 Administrative Agent May File Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII Miscellaneous 122 Section 12.01 Notices 122 Section 12.02 Waivers; Amendments 123 Section 12.03 Expenses, Indemnity; Damage Waiver 124 Section 12.04 Successors and Assigns 127 Section 12.05 Survival; Revival; Reinstatement 130 Section 12.06 Counterparts; Integration; Effectiveness 131 Section 12.07 Severability 131 Section 12.08 Right of Setoff 132 Section 12.09 GOVERNING LAW; JURISDICTION 132 Section 12.10 Headings 133 Section 12.11 Confidentiality 133 Section 12.12 Interest Rate Limitation 134 Section 12.13 EXCULPATION PROVISIONS 135 Section 12.14 Collateral Matters; Swap Agreements 135 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 22, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).54 Section 7.22 Solvency 54
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 48 Section 5.01 Increased Costs 69 48 Section 5.02 Break Funding Payments 70 49 Section 5.03 Taxes 71 49 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 Obligations 53 Section 5.05 Illegality 73 53 ARTICLE VI Conditions Precedent 74 54
Section 6.01 Effective Date 74 54 Section 6.02 Each Credit Event 76 56 ARTICLE VII Representations and Warranties 77 57 Section 7.01 Organization; Powers 77 57 Section 7.02 Authority; Enforceability 77 57 Section 7.03 Approvals; No Conflicts 77 57 Section 7.04 Financial Condition; No Material Adverse Effect 78 Change 58 Section 7.05 Litigation 78 58 Section 7.06 Environmental Matters 78 58 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 59 Section 7.08 Investment Company Act 79 60 Section 7.09 Taxes 79 60 Section 7.10 ERISA 60 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 61 Section 7.12 Insurance 80 61 Section 7.13 Restriction on Liens 62 Section 7.14 Subsidiaries 62 Section 7.15 Location of Business and Offices 80 62 Section 7.14 7.16 Properties; Title, Titles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 62 Section 7.17 Status As Senior Indebtedness 83 Maintenance of Property 63 Section 7.18 Solvency 83 Gas Imbalances, Prepayments 64 Section 7.19 Priority; Security Matters 83 Marketing of Production 64 Section 7.20 Swap Agreements 64 Section 7.21 Use of Loans and Letters of Credit 64 Section 7.22 Solvency 64 Section 7.23 Foreign Corrupt Practices Act 65 Section 7.24 OFAC 65 ARTICLE VIII Affirmative Covenants 84 65 Section 8.01 Financial Statements; Other Information 84 65 Section 8.02 Notices of Material Events 86 68 Section 8.03 Existence; Conduct of Business 87 69 Section 8.04 Payment of Obligations 87 69 Section 8.05 Performance of Obligations under Loan Documents 69 Section 8.06 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 69 Section 8.07 Insurance 70 Section 8.08 Books and Records; Inspection Rights 88 Records 70 Section 8.08 8.09 Compliance with Laws 88 70 Section 8.09 8.10 Environmental Matters 88 70 Section 8.10 8.11 Further Assurances 89 71 Section 8.11 8.12 Reserve Reports 90 72 Section 8.12 8.13 Title Information 92 73 Section 8.13 8.14 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 ERISA and Benefit Plan Compliance 96 Guarantors 74 Section 8.15 ERISA Compliance 74 Section 8.16 Marketing Activities 75 Section 8.17 Swap Agreements 75 Section 8.18 Unrestricted Subsidiaries 97 Section 8.16 Section 1031 Exchange 97 Section 8.17 Use of Proceeds 98 Section 8.18 Fiscal Year 98 75 ARTICLE IX Negative Covenants 98 76 Section 9.01 Financial Covenants 98 76 Section 9.02 Debt 98 76 Section 9.03 Liens 101 77 Section 9.04 Dividends Dividends, Distributions and Distributions 103 Restricted Payments 78 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 79 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 9.06 Nature of Business; No International Operations 108 81 Section 9.07 Limitation on Leases 81 Section 9.08 Proceeds of Notes 81 Section 9.09 ERISA Compliance 81 Section 9.10 Sale or Discount of Receivables 82 Section 9.11 Mergers, Etc 108 82 Section 9.10 9.12 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 82 Section 9.11 9.13 Environmental Matters 83 Section 9.14 Transactions with Affiliates 112 83 Section 9.12 9.15 Subsidiaries 83 Section 9.16 Negative Pledge Agreements; Dividend Restrictions 112 83 Section 9.13 9.17 Gas Imbalances, Take-or-Pay or Other Prepayments 84 Section 9.18 Swap Agreements 112 84 Section 9.14 Ownership 9.19 Designation of Restricted and Unrestricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 85 ARTICLE X Events of Default; Remedies 113 86 Section 10.01 Events of Default 113 86 Section 10.02 Remedies 116 88 ARTICLE XI The Agents 117 Administrative Agent 89 Section 11.01 Appointment; Powers 117 89 Section 11.02 Duties and Obligations of Administrative Agent 117 89 Section 11.03 Action by Administrative Agents 118 Agent 90 Section 11.04 Reliance by Administrative Agents 119 Agent 91 Section 11.05 Subagents 119 91 Section 11.06 Resignation of the Administrative Agents 119 Agent 91 Section 11.07 Agents Agent as Lenders 120 91 Section 11.08 No Reliance 120 92 Section 11.09 Administrative Agent May File Proofs of Claim 120 92 Section 11.10 Authority Of of Administrative Agent To to Release Collateral And Liens 121 and Guarantors 93 Section 11.11 The Arrangers, Arranger and the Syndication Agent and Co-Documentation Agents 121 93 ARTICLE XII Miscellaneous 122 93 Section 12.01 Notices 122 93 Section 12.02 Waivers; Amendments 123 94 Section 12.03 Expenses, Indemnity; Damage Waiver 124 96 Section 12.04 Successors and Assigns 127 98 Section 12.05 Survival; Revival; Reinstatement 130 101 Section 12.06 Counterparts; Integration; Effectiveness 131 102 Section 12.07 Severability 131 103 Section 12.08 Right of Setoff 132 103 Section 12.09 GOVERNING LAW; JURISDICTION 132 JURISDICTION; CONSENT TO SERVICE OF PROCESS 103 Section 12.10 Headings 133 105 Section 12.11 Confidentiality 133 105 Section 12.12 Interest Rate Limitation 134 105 Section 12.13 EXCULPATION PROVISIONS 135 106 Section 12.14 Collateral Matters; Swap Agreements 135 107 Section 12.15 No Third Party Beneficiaries 136 107 Section 12.16 USA Patriot Act Notice 136 107 Section 12.17 Anti-Money Laundering Legislation 136 Flood Insurance Provisions 108 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Regulation U Matters 108 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 E Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G G-1 Form of Pledge U.S. Tax Compliance Certificate (Foreign Lenders; non-partnerships) Exhibit G-2 Form of U.S. Tax Compliance Certificate (Foreign Participants; non-partnerships) Exhibit G-3 Form of U.S. Tax Compliance Certificate (Foreign Participants; partnerships) Exhibit G-4 Form of U.S. Tax Compliance Certificate (Foreign Lenders; partnerships) Exhibit H-1 Maximum Credit Amount Increase Agreement Exhibit H-2 Additional Lender Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 7.14 Subsidiaries and Partnerships; Unrestricted Subsidiaries Partnerships Schedule 7.12 Insurance 7.19 Marketing Agreements Schedule 9.02 Existing Debt Schedule 9.03 Liens 7.20 Swap Agreements Schedule 9.06 Investments Schedule 9.08 Nature of Business Certain Foreign Properties THIS AMENDED AND RESTATED SENIOR SECURED REVOLVING CREDIT AGREEMENT dated as of December 22JULY 8, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), 2014 is among QUICKSILVER RESOURCES INC.among: Viper Energy Partners LP, a Delaware corporation (the “Parent”)limited liability partnership, QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada as borrower (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANKand Xxxxx Fargo Bank, N.A.National Association (in its individual capacity, Toronto Branch“Xxxxx Fargo”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Viper Energy Partners LP)
Increased Costs; Break Funding Payments. PaymentsTAXES; Taxes; Illegality 69 ILLEGALITY 55 Section 5.01 Increased Costs 69 55 Section 5.02 Break Funding Payments 70 56 Section 5.03 Taxes 71 57 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 60 Section 5.05 Illegality 73 61 ARTICLE VI Conditions Precedent 74 CONDITIONS PRECEDENT 61 Section 6.01 Effective Date 74 61 Section 6.02 Each Credit Event 76 63 ARTICLE VII Representations and Warranties 77 REPRESENTATIONS AND WARRANTIES 64 Section 7.01 Organization; Powers 77 64
Section 7.02 Authority; Enforceability 77 65 Section 7.03 Approvals; No Conflicts 77 65 Section 7.04 Financial Condition; No Material Adverse Effect 78 Change 65 Section 7.05 Litigation 78 66 Section 7.06 Environmental Matters 78 66 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults or Borrowing Base Deficiency 67 Section 7.08 Investment Company Act 79 67 Section 7.09 Taxes 79 67 Section 7.10 ERISA 68 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 68 Section 7.12 Insurance 80 69 Section 7.13 Restriction on Liens 69 Section 7.14 Subsidiaries 69 Section 7.15 Location of Business and Offices 80 69 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 69 Section 7.17 Status As Senior Indebtedness 83 Maintenance of Properties 70 Section 7.18 Solvency 83 Gas Imbalances, Prepayments 71 Section 7.19 Priority; Marketing of Production 71 Section 7.20 Swap Agreements and Qualified ECP Guarantor 71 Section 7.21 Use of Loans and Letters of Credit 71 Section 7.22 Solvency 72 Section 7.23 Anti-Corruption Laws and Sanctions 72 Section 7.24 EEA Financial Institutions 72 Section 7.25 Security Matters 83 Instruments 72 ARTICLE VIII Affirmative Covenants 84 AFFIRMATIVE COVENANTS 72 Section 8.01 Financial Statements; Other Information 84 73 Section 8.02 Notices of Material Events 86 76 Section 8.03 Existence; Conduct of Business 87 76 Section 8.04 Payment of Obligations 87 76 Section 8.05 Performance of Obligations under Loan Documents 76 Section 8.06 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 Properties; Subordination of Affiliated Operators' Liens 76 Section 8.07 Insurance 77 Section 8.08 Books and Records; Inspection Rights 88 77 Section 8.08 8.09 Compliance with Laws 88 78 Section 8.09 8.10 Environmental Matters 88 78 Section 8.10 8.11 Further Assurances 89 79 Section 8.11 8.12 Reserve Reports 90 79 Section 8.12 8.13 Title Information 92 Section 8.13 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 80 Section 8.14 ERISA Additional Collateral and Benefit Plan Compliance 96 Additional Guarantors 81 Section 8.15 ERISA Compliance 82 Section 8.16 Unrestricted Subsidiaries 97 Section 8.16 Section 1031 Exchange 97 82 Section 8.17 Use of Proceeds 98 Deposit Accounts; Commodity Accounts and Securities Accounts 82 Section 8.18 Fiscal Year 98 ARTICLE IX Negative Covenants 98 Commodity Exchange Act Keepwell Provisions 83 Section 9.01 Financial Covenants 98 8.19 Affirmative Hedging Covenant 83 Section 9.02 Debt 98 8.20 Excess Cash Information 84 Section 9.03 Liens 101 Section 9.04 Dividends and Distributions 103 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 Nature of Business; International Operations 108 Section 9.09 Mergers, Etc 108 Section 9.10 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Section 9.11 Transactions with Affiliates 112 Section 9.12 Negative Pledge Agreements; Dividend Restrictions 112 Section 9.13 Swap Agreements 112 Section 9.14 Ownership of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 ARTICLE X Events of Default; Remedies 113 Section 10.01 Events of Default 113 Section 10.02 Remedies 116 ARTICLE XI The Agents 117 Section 11.01 Appointment; Powers 117 Section 11.02 Duties and 8.21 Post-Closing Obligations of Administrative Agent 117 Section 11.03 Action by Administrative Agents 118 Section 11.04 Reliance by Administrative Agents 119 Section 11.05 Subagents 119 Section 11.06 Resignation of Administrative Agents 119 Section 11.07 Agents as Lenders 120 Section 11.08 No Reliance 120 Section 11.09 Administrative Agent May File Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII Miscellaneous 122 Section 12.01 Notices 122 Section 12.02 Waivers; Amendments 123 Section 12.03 Expenses, Indemnity; Damage Waiver 124 Section 12.04 Successors and Assigns 127 Section 12.05 Survival; Revival; Reinstatement 130 Section 12.06 Counterparts; Integration; Effectiveness 131 Section 12.07 Severability 131 Section 12.08 Right of Setoff 132 Section 12.09 GOVERNING LAW; JURISDICTION 132 Section 12.10 Headings 133 Section 12.11 Confidentiality 133 Section 12.12 Interest Rate Limitation 134 Section 12.13 EXCULPATION PROVISIONS 135 Section 12.14 Collateral Matters; Swap Agreements 135 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 22, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).84
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Section 5.01 Illegality
SECTION 5.01. Increased Costs 69 Section 5.02 74 SECTION 5.02. Break Funding Payments 70 Section 5.03 SECTION 5.03. Taxes 71 Section 5.04 75 SECTION 5.04. Mitigation Obligations; Replacement of Lenders 72 Section 5.05 Illegality 73 ARTICLE VI Conditions Precedent 74 Section 6.01 79 SECTION 6.01. Effective Date 74 Section 6.02 Each Credit Event 76 ARTICLE VII Representations and Warranties 77 Section 7.01 80 SECTION 7.01. Organization; Powers 77 Section 7.02 83 SECTION 7.02. Authority; Enforceability 77 Section 7.03 83 SECTION 7.03. Approvals; No Conflicts 77 Section 7.04 83 SECTION 7.04. Financial Condition; No Material Adverse Effect 78 Section 7.05 84 SECTION 7.05. Litigation 78 Section 7.06 84 SECTION 7.06. Environmental Matters 78 Section 7.07 84 SECTION 7.07. Compliance with the Laws and Agreements 79 Section 7.08 85 SECTION 7.08. Investment Company Act 79 Section 7.09 86 SECTION 7.09. Taxes 79 Section 7.10 86 SECTION 7.10. Disclosure; No Material Misstatements 79 Section 7.11 86 SECTION 7.11. Subsidiaries 80 Section 7.12 86 SECTION 7.12. Insurance 80 Section 7.13 87 SECTION 7.13. Location of Business and Offices 80 Section 7.14 87 SECTION 7.14. Properties; Title, Etc 81 Section 7.15 87 SECTION 7.15. Federal Reserve Regulations 81 Section 7.16 88 SECTION 7.16. Compliance with Benefit Plans; ERISA 82 Section 7.17 88 SECTION 7.17. Status As Senior Indebtedness 83 Section 7.18 89 SECTION 7.18. Solvency 83 Section 7.19 90 SECTION 7.19. Priority; Security Matters 83 ARTICLE VIII Affirmative Covenants 84 Section 8.01 90 SECTION 8.01. Financial Statements; Other Information 84 Section 8.02 90 SECTION 8.02. Notices of Material Events 86 Section 8.03 93 SECTION 8.03. Existence; Conduct of Business 87 Section 8.04 93 SECTION 8.04. Payment of Obligations 87 Section 8.05 93 SECTION 8.05. Operation and Maintenance of Properties 87 Section 8.06 94 SECTION 8.06. Insurance 88 Section 8.07 94 SECTION 8.07. Books and Records; Inspection Rights 88 Section 8.08 95 SECTION 8.08. Compliance with Laws 88 Section 8.09 95 SECTION 8.09. Environmental Matters 88 Section 8.10 95 SECTION 8.10. Further Assurances 89 Section 8.11 96 SECTION 8.11. Reserve Reports 90 Section 8.12 96 SECTION 8.12. Title Information 92 Section 8.13 98 SECTION 8.13. Additional Collateral; Additional Subsidiary Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 98 SECTION 8.14. ERISA and Benefit Plan Compliance 96 Section 8.15 100 SECTION 8.15. Unrestricted Subsidiaries 97 Section 8.16 101 SECTION 8.16. Section 1031 Exchange 97 Section 8.17 102 SECTION 8.17. Use of Proceeds 98 Section 8.18 102 SECTION 8.18. Fiscal Year 98 ARTICLE IX Negative Covenants 98 Section 9.01 Financial Covenants 98 Section 9.02 Debt 98 Section 9.03 102 SECTION 9.01. Limitation on Indebtedness 102 SECTION 9.02. Limitation on Restricted Payments 107 SECTION 9.03. Limitation on Liens 101 Section 9.04 Dividends 112 SECTION 9.04. Limitation on Sale/Leaseback Transactions 112 SECTION 9.05. Limitation on Restrictions on Distributions from Restricted Subsidiaries 112 SECTION 9.06. Limitation on Sales of Assets and Distributions 103 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 Nature of Business; International Operations 108 Section 9.09 Mergers, Etc 108 Section 9.10 Subsidiary Stock 114 SECTION 9.07. Limitation on Affiliate Transactions 117 SECTION 9.08. Limitation on Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Section 9.11 Transactions with Affiliates 112 Section 9.12 Negative Pledge Agreements; Dividend Restrictions 112 Section 9.13 Swap Agreements 112 Section 9.14 Ownership Capital Stock of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 ARTICLE X Events of Default; Remedies 113 Section 10.01 Events of Default 113 Section 10.02 Remedies 116 ARTICLE XI The Agents 117 Section 11.01 Appointment; Powers 117 Section 11.02 Duties 119 SECTION 9.09. Merger and Obligations of Administrative Agent 117 Section 11.03 Action by Administrative Agents 118 Section 11.04 Reliance by Administrative Agents Consolidation 119 Section 11.05 Subagents 119 Section 11.06 Resignation of Administrative Agents 119 Section 11.07 Agents as Lenders 120 Section 11.08 No Reliance 120 Section 11.09 Administrative Agent May File Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII Miscellaneous 122 Section 12.01 Notices 122 Section 12.02 Waivers; Amendments 123 Section 12.03 Expenses, Indemnity; Damage Waiver 124 Section 12.04 Successors and Assigns 127 Section 12.05 Survival; Revival; Reinstatement 130 Section 12.06 Counterparts; Integration; Effectiveness 131 Section 12.07 Severability 131 Section 12.08 Right of Setoff 132 Section 12.09 GOVERNING LAW; JURISDICTION 132 Section 12.10 Headings 133 Section 12.11 Confidentiality 133 Section 12.12 Interest Rate SECTION 9.10. Limitation 134 Section 12.13 EXCULPATION PROVISIONS 135 Section 12.14 Collateral Matters; Swap Agreements 135 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature on Lines of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as 120 SECTION 9.11. Payments for Consent 120 SECTION 9.12. Offer to Repurchase Upon Change of December 22, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”)Control 121 SECTION 9.13. The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).Negative Pledge Agreements 121
Appears in 1 contract
Samples: Second Lien Credit Agreement (Quicksilver Resources Inc)
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Taxes 87 Section 5.01 Increased Costs 69 87 Section 5.02 Break Funding Payments 70 89 Section 5.03 Taxes 71 89 Section 5.04 Mitigation Obligations; Designation of Different Lending Office 93 Section 5.05 Replacement of Lenders 72 Section 5.05 Illegality 73 ARTICLE 94 Article VI Conditions Precedent 74 94 Section 6.01 Effective Date 74 94 Section 6.02 Each Credit Event 76 ARTICLE 97 Article VII Representations and Warranties 77 99 Section 7.01 Organization; Powers 77 99 Section 7.02 Authority; Enforceability 77 99 Section 7.03 Approvals; No Conflicts 77 99 Section 7.04 Financial ConditionPosition; No Material Adverse Effect 78 Change 100 Section 7.05 Litigation 78 100 Section 7.06 Environmental Matters 78 101 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 102 Section 7.08 Investment Company Act; Commodity Exchange Act 79 102 Section 7.09 Taxes 79 102 Section 7.10 ERISA 103 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 104 Section 7.12 Insurance 80 105 Section 7.13 Restriction on Liens 105 Section 7.14 Subsidiaries 105 Section 7.15 Location of Business and Offices 80 105 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 105 Section 7.17 Status As Senior Indebtedness 83 Maintenance of Properties 107 Section 7.18 Solvency 83 Use of Loans and Letters of Credit 107 Section 7.19 Priority; Solvency 107 Section 7.20 Gas Imbalances, Prepayments 108 Section 7.21 Marketing of Production 108 Section 7.22 Swap Agreements and Qualified ECP Guarantor 108 Section 7.23 Anti-Terrorism Laws 108 Section 7.24 Anti-Corruption Laws and Sanctions 109 Section 7.25 Affected Financial Institutions 110 Section 7.26 Beneficial Ownership Regulation 110 Section 7.27 Labor Matters 110 Section 7.28 Security Matters 83 ARTICLE Instruments 110 Article VIII Affirmative Covenants 84 111 Section 8.01 Financial Statements; Other Information 84 111 Section 8.02 Notices of Material Events 86 116 Section 8.03 Existence; Conduct of Business 87 117 Section 8.04 Payment of Obligations 87 118 Section 8.05 Performance of Obligations under Loan Documents 118 Section 8.06 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 118 Section 8.07 Insurance 119 Section 8.08 Books and Records; Inspection Rights 88 119 Section 8.08 8.09 Compliance with Laws 88 120 Section 8.09 8.10 Environmental Matters 88 120 Section 8.10 8.11 Further Assurances 89 121 Section 8.11 8.12 Reserve Reports 90 122 Section 8.12 8.13 Title Information 92 123 Section 8.13 8.14 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 ERISA and Benefit Plan Compliance 96 Guarantors 125 Section 8.15 ERISA Compliance 127 Section 8.16 Unrestricted Subsidiaries 97 Section 8.16 Section 1031 Exchange 97 127 Section 8.17 Use of Proceeds 98 Section 8.18 Fiscal Year 98 ARTICLE Accounts 128 Article IX Negative Covenants 98 129 Section 9.01 Financial Covenants 98 Covenants. 129 Section 9.02 Debt 98 130 Section 9.03 Liens 101 132 Section 9.04 Dividends and Distributions 103 Fundamental Changes 133 Section 9.05 Repayment Dispositions of Debt; Amendment of Indentures 104 Properties 134 Section 9.06 Investments, Loans Loans, Advances and Advances 104 Guaranties 137 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Marketing Activities 139 Section 9.08 Nature of Business; International Operations 108 Restricted Payments 140 Section 9.09 Mergers, Etc 108 Section 9.10 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Section 9.11 Transactions with Affiliates 112 140 Section 9.10 Change in Nature of Business 141 Section 9.11 Restrictive Agreements 141 Section 9.12 Negative Pledge Agreements; Dividend Restrictions 112 on Amendments to Certain Documents 142 Section 9.13 Swap Agreements 112 Changes in Fiscal Periods 142 Section 9.14 Ownership Repayment of Restricted Subsidiaries 113 Permitted Debt or Senior Notes; Amendment of Permitted Debt Documents or Senior Notes Documents 142 Section 9.15 Amendments to Organizational Documents 113 ARTICLE X Events of Default; Remedies 113 Section 10.01 Events of Default 113 Section 10.02 Remedies 116 ARTICLE XI The Agents 117 Section 11.01 Appointment; Powers 117 Section 11.02 Duties and Obligations of Administrative Agent 117 Section 11.03 Action by Administrative Agents 118 Section 11.04 Reliance by Administrative Agents 119 Section 11.05 Subagents 119 Section 11.06 Resignation of Administrative Agents 119 Section 11.07 Agents as Lenders 120 Section 11.08 No Reliance 120 Section 11.09 Administrative Agent May File Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII Miscellaneous 122 Section 12.01 Notices 122 Section 12.02 Waivers; Amendments 123 Section 12.03 Expenses, Indemnity; Damage Waiver 124 Section 12.04 Successors and Assigns 127 Section 12.05 Survival; Revival; Reinstatement 130 Section 12.06 Counterparts; Integration; Effectiveness 131 Section 12.07 Severability 131 Section 12.08 Right of Setoff 132 Section 12.09 GOVERNING LAW; JURISDICTION 132 Section 12.10 Headings 133 Section 12.11 Confidentiality 133 Section 12.12 Interest Rate Limitation 134 Section 12.13 EXCULPATION PROVISIONS 135 Section 12.14 Collateral Matters; Swap Agreements 135 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 Section 12.17 Anti-Money Laundering Legislation 136 and Anti-Terrorism Finance Laws; Foreign Corrupt Practices Act; Sanctions Laws; Restricted Person 143 Section 12.18 No Fiduciary Duty 137 9.16 Limitation on Leases 144 Section 12.19 Amendment 9.17 Gas Imbalances, Take-or-Pay or Other Prepayments 144 Section 9.18 Hedge Transactions. 144 Section 9.19 Hedge Transaction Termination 146 Section 9.20 Sale and Restatement Mechanics 137 Leaseback Transactions and other Off-Balance Sheet Liabilities 146 Section 12.20 Acknowledgment 9.21 Sale or Discount of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 22, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).Receivables 146
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 57 Section 5.01 Increased Costs 69 57 Section 5.02 Break Funding Payments 70 59 Section 5.03 Taxes 71 59 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 63 Section 5.05 Illegality 73 ARTICLE VI 64 Conditions Precedent 74 64 Section 6.01 Effective Date 74 64 Section 6.02 Each Subsequent Credit Event 76 ARTICLE VII 68 Representations and Warranties 77 68 Section 7.01 Organization; Powers 77 69 Section 7.02 Authority; Enforceability 77 69 Section 7.03 Approvals; No Conflicts 77 69 Section 7.04 Financial Condition; No Material Adverse Effect 78 Change 69 Section 7.05 Litigation 78 71 Section 7.06 Environmental Matters 78 71 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 72 Section 7.08 Investment Company Act 79 73 Section 7.09 Taxes 79 73 Section 7.10 ERISA 73 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 74 Section 7.12 Insurance 80 74 Section 7.13 Restriction on Liens 74 Section 7.14 Subsidiaries 75 Section 7.15 Location of Business and Offices 80 75 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 75 Section 7.17 Status As Senior Indebtedness 83 Maintenance of Properties 76 Section 7.18 Solvency 83 Hedging Agreements and Qualified ECP Guarantor 76 Section 7.19 Priority; Security Instruments 76 Section 7.20 Use of Loans and Letters of Credit 77 Section 7.21 Solvency 78 Section 7.22 Common Enterprise 78 Section 7.23 Material Contracts 78 Section 7.24 Broker’s Fees 78 Section 7.25 Employee Matters 83 ARTICLE VIII 78 Section 7.26 Anti-Terrorism Laws 78 Section 7.27 Foreign Corrupt Practices 79 Affirmative Covenants 84 80 Section 8.01 Financial Statements; Ratings Change; Other Information 84 80 Section 8.02 Notices of Material Events 86 83 Section 8.03 Existence; Conduct of Business 87 84 Section 8.04 Payment of Tax Obligations 87 84 Section 8.05 Performance of Obligations under Loan Documents 84 Section 8.06 Operation and Maintenance of Properties 87 Section 8.06 Insurance 88 85 Section 8.07 Insurance 85 Section 8.08 Books and Records; Inspection Rights 88 85 Section 8.08 8.09 Compliance with Laws 88 86 Section 8.09 8.10 Compliance with Agreements 86 Section 8.11 Environmental Matters 88 86 Section 8.10 8.12 Further Assurances 89 87 Section 8.11 Reserve Reports 90 Section 8.12 8.13 Title Information 92 87 Section 8.13 8.14 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 ERISA and Benefit Plan Compliance 96 Guarantors 87 Section 8.15 Unrestricted Designations with Respect to Subsidiaries 97 89 Section 8.16 Section 1031 Exchange 97 Excluded Subsidiaries 89 Section 8.17 Use of Proceeds 98 ERISA Compliance 90 Section 8.18 Fiscal Year 98 ARTICLE IX Interest Rate Hedging Agreements 90 Section 8.19 Commodity Exchange Act Keepwell Provisions 90 Section 8.20 Post-Closing Obligations 90 Negative Covenants 98 91 Section 9.01 Financial Covenants 98 91 Section 9.02 Debt 98 Indebtedness 93 Section 9.03 Liens 101 94 Section 9.04 Dividends and Distributions 103 Restricted Payments 95 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 96 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 9.06 Nature of Business; International Operations 108 98 Section 9.07 Proceeds of Loans 98 Section 9.08 ERISA Compliance 98 Section 9.09 Sale or Discount of Receivables 99 Section 9.10 Mergers, Etc 108 99 Section 9.10 9.11 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 100 Section 9.11 9.12 Environmental Matters 101 Section 9.13 Transactions with Affiliates 112 101 Section 9.12 9.14 Subsidiaries 101 Section 9.15 Limitation on Issuance of Equity Interests 101 Section 9.16 Negative Pledge Agreements; Dividend Restrictions 112 101 Section 9.13 Swap 9.17 Hedging Agreements 112 102 Section 9.14 Ownership of Restricted Subsidiaries 113 9.18 Holding Company 102 Section 9.15 9.19 Sale and Leaseback 102 Section 9.20 Amendments to Organizational Documents 113 ARTICLE X Organization Documents, Term Loan Documents, Material Contracts, or Fiscal Year End; Prepayments of other Indebtedness 103 Section 9.21 Anti-Terrorism Law; Anti-Money Laundering 103 Section 9.22 Embargoed Person 104 Events of Default; Remedies 113 104 Section 10.01 Events of Default 113 104 Section 10.02 Remedies 116 ARTICLE XI 106 The Agents 117 108 Section 11.01 Appointment; Powers 117 Appointment and Authority 108 Section 11.02 Duties and Obligations of Administrative Agent 117 Rights as a Lender 108 Section 11.03 Action by Administrative Agents 118 Exculpatory Provisions 108 Section 11.04 Reliance by Administrative Agents 119 Agent 109 Section 11.05 Subagents 119 Delegation of Duties 109 Section 11.06 Resignation of Administrative Agents 119 Agent 110 Section 11.07 Agents as Non-Reliance on Administrative Agent and Other Lenders 120 110 Section 11.08 No Reliance 120 Other Duties, etc 111 Section 11.09 Authority of Administrative Agent to Release Collateral and Liens 111 Section 11.10 Action by the Administrative Agent 111 Section 11.11 Administrative Agent May File Proofs of Claim 120 112 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII 11.12 Intercreditor Agreement 113 Miscellaneous 122 113 Section 12.01 Notices 122 113 Section 12.02 Waivers; Amendments 123 115 Section 12.03 Expenses, Indemnity; Damage Waiver 124 117 Section 12.04 Successors Assignments and Assigns 127 Participations 120 Section 12.05 Survival; Revival; Reinstatement 130 124 Section 12.06 Counterparts; Integration; Effectiveness 131 Effectiveness; Electronic Execution 125 Section 12.07 Severability 131 125 Section 12.08 Right of Setoff 132 125 Section 12.09 GOVERNING LAWGoverning Law; JURISDICTION 132 Jurisdiction; Consent to Service of Process 126 Section 12.10 Headings 133 127 Section 12.11 Confidentiality 133 127 Section 12.12 Interest Rate Limitation 134 128 Section 12.13 EXCULPATION PROVISIONS 135 Exculpation Provisions 129 Section 12.14 Collateral Matters; Swap Agreements 135 Secured Hedging Agreements; Bank Products 129 Section 12.15 No Third Party Beneficiaries 136 129 Section 12.16 USA Patriot Act Notice 136 130 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 130 Section 12.18 Non-Recourse to the General Partner 130 Section 12.19 No Advisory or Fiduciary Responsibility 131 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 131 Annex I List Commitments Annex II Existing Letters of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D D-1 Form of Compliance Certificate (Effective Date) Exhibit E-1 Security Instruments D-2 Form of Compliance Certificate (Ongoing) Exhibit E-2 E Form of Guaranty and Collateral Agreement Exhibit F Form of Assignment and Assumption Exhibit G G-1 Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters U.S. Tax Compliance Certificate (Foreign Lenders; not partnerships) Exhibit G-2 Form of Credit Schedule 7.11 Subsidiaries and PartnershipsU.S. Tax Compliance Certificate (Foreign Participants; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature not partnerships) Exhibit G-3 Form of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as U.S. Tax Compliance Certificate (Foreign Participants: partnerships) Exhibit G-4 Form of December 22, 2011 U.S. Tax Compliance Certificate (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws Foreign Lenders; partnerships) Exhibit H Form of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).Solvency Certificate
Appears in 1 contract
Samples: Revolving Credit Agreement
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Illegality; Defaulting Lenders 57 Section 5.01 Increased Costs 69 57 Section 5.02 Break Funding Payments 70 58 Section 5.03 Taxes 71 58 Section 5.04 Mitigation Obligations; Replacement of Lenders 72 Obligations 61 Section 5.05 Illegality 73 62 Section 5.06 Defaulting Lenders 62 ARTICLE VI Conditions Precedent 74 64 Section 6.01 Effective Date 74 Conditions to Effectiveness 64 Section 6.02 Each Credit Event 76 67 ARTICLE VII Representations and Warranties 77 68 Section 7.01 Organization; Powers 77 68 Section 7.02 Authority; Enforceability 77 68 Section 7.03 Approvals; No Conflicts 77 68 Section 7.04 Financial Condition; No Material Adverse Effect 78 Change 69 Section 7.05 Litigation 78 69 Section 7.06 Environmental Matters 78 70 Section 7.07 Compliance with the Laws and Agreements 79 Agreements; No Defaults 71 Section 7.08 Investment Company Act 79 71 Section 7.09 Taxes 79 71 Section 7.10 ERISA 71 Section 7.11 Disclosure; No Material Misstatements 79 Section 7.11 Subsidiaries 80 72 Section 7.12 Insurance 80 72 Section 7.13 Restriction on Liens 73 Section 7.14 Subsidiaries 73 Section 7.15 Location of Business and Offices 80 73 Section 7.14 7.16 Properties; TitleTitles, Etc 81 Section 7.15 Federal Reserve Regulations 81 Section 7.16 Compliance with Benefit Plans; ERISA 82 Etc. 73 Section 7.17 Status As Senior Indebtedness 83 Section 7.18 Solvency 83 Section 7.19 Priority; Security Matters 83 ARTICLE VIII Affirmative Covenants 84 Section 8.01 Financial Statements; Other Information 84 Section 8.02 Notices of Material Events 86 Section 8.03 Existence; Conduct of Business 87 Section 8.04 Payment of Obligations 87 Section 8.05 Operation and Maintenance of Properties 87 74 Section 8.06 Insurance 88 7.18 Gas Imbalances, Prepayments 75 Section 8.07 Books and Records; Inspection Rights 88 7.19 Marketing of Production 75 Section 8.08 Compliance with Laws 88 7.20 Swap Agreements 75 Section 8.09 Environmental Matters 88 Section 8.10 Further Assurances 89 Section 8.11 Reserve Reports 90 Section 8.12 Title Information 92 Section 8.13 Additional Collateral; Additional Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 ERISA and Benefit Plan Compliance 96 Section 8.15 Unrestricted Subsidiaries 97 Section 8.16 Section 1031 Exchange 97 Section 8.17 7.21 Use of Proceeds 98 Section 8.18 Fiscal Year 98 ARTICLE IX Negative Covenants 98 Section 9.01 Financial Covenants 98 Section 9.02 Debt 98 Section 9.03 Liens 101 Section 9.04 Dividends and Distributions 103 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 Nature of Business; International Operations 108 Section 9.09 Mergers, Etc 108 Section 9.10 Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Section 9.11 Transactions with Affiliates 112 Section 9.12 Negative Pledge Agreements; Dividend Restrictions 112 Section 9.13 Swap Agreements 112 Section 9.14 Ownership of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 ARTICLE X Events of Default; Remedies 113 Section 10.01 Events of Default 113 Section 10.02 Remedies 116 ARTICLE XI The Agents 117 Section 11.01 Appointment; Powers 117 Section 11.02 Duties and Obligations of Administrative Agent 117 Section 11.03 Action by Administrative Agents 118 Section 11.04 Reliance by Administrative Agents 119 Section 11.05 Subagents 119 Section 11.06 Resignation of Administrative Agents 119 Section 11.07 Agents as Lenders 120 Section 11.08 No Reliance 120 Section 11.09 Administrative Agent May File Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII Miscellaneous 122 Section 12.01 Notices 122 Section 12.02 Waivers; Amendments 123 Section 12.03 Expenses, Indemnity; Damage Waiver 124 Section 12.04 Successors and Assigns 127 Section 12.05 Survival; Revival; Reinstatement 130 Section 12.06 Counterparts; Integration; Effectiveness 131 Section 12.07 Severability 131 Section 12.08 Right of Setoff 132 Section 12.09 GOVERNING LAW; JURISDICTION 132 Section 12.10 Headings 133 Section 12.11 Confidentiality 133 Section 12.12 Interest Rate Limitation 134 Section 12.13 EXCULPATION PROVISIONS 135 Section 12.14 Collateral Matters; Swap Agreements 135 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature 75 Section 7.22 Solvency 75 Section 7.23 Foreign Corrupt Practices 76 Section 7.24 Money Laundering 76 Section 7.25 OFAC 76 Section 7.26 Purchaser of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 22, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”). The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).Production 76 Section 7.27 Eagle Ford Acquisition Representations 76
Appears in 1 contract
Increased Costs; Break Funding Payments. Payments; Taxes; Illegality 69 Section 5.01 Illegality
SECTION 5.01. Increased Costs 69 Section 5.02 74 SECTION 5.02. Break Funding Payments 70 Section 5.03 SECTION 5.03. Taxes 71 Section 5.04 76 SECTION 5.04. Mitigation Obligations; Replacement of Lenders 72 Section 5.05 Illegality 73 ARTICLE VI Conditions Precedent 74 Section 6.01 80 SECTION 6.01. Effective Date 74 Section 6.02 Each Credit Event 76 ARTICLE VII Representations and Warranties 77 Section 7.01 80 SECTION 7.01. Organization; Powers 77 Section 7.02 83 SECTION 7.02. Authority; Enforceability 77 Section 7.03 83 SECTION 7.03. Approvals; No Conflicts 77 Section 7.04 84 SECTION 7.04. Financial Condition; No Material Adverse Effect 78 Section 7.05 84 SECTION 7.05. Litigation 78 Section 7.06 85 SECTION 7.06. Environmental Matters 78 Section 7.07 85 SECTION 7.07. Compliance with the Laws and Agreements 79 Section 7.08 86 SECTION 7.08. Investment Company Act 79 Section 7.09 86 SECTION 7.09. Taxes 79 Section 7.10 86 SECTION 7.10. Disclosure; No Material Misstatements 79 Section 7.11 86 SECTION 7.11. Subsidiaries 80 Section 7.12 87 SECTION 7.12. Insurance 80 Section 7.13 87 SECTION 7.13. Location of Business and Offices 80 Section 7.14 87 SECTION 7.14. Properties; Title, Etc 81 Section 7.15 87 SECTION 7.15. Federal Reserve Regulations 81 Section 7.16 88 SECTION 7.16. Compliance with Benefit Plans; ERISA 82 Section 7.17 89 SECTION 7.17. Status As Senior Indebtedness 83 Section 7.18 90 SECTION 7.18. Solvency 83 Section 7.19 90 SECTION 7.19. Priority; Security Matters 83 ARTICLE VIII Affirmative Covenants 84 Section 8.01 90 SECTION 8.01. Financial Statements; Other Information 84 Section 8.02 91 SECTION 8.02. Notices of Material Events 86 Section 8.03 93 SECTION 8.03. Existence; Conduct of Business 87 Section 8.04 94 SECTION 8.04. Payment of Obligations 87 Section 8.05 94 SECTION 8.05. Operation and Maintenance of Properties 87 Section 8.06 94 SECTION 8.06. Insurance 88 Section 8.07 95 SECTION 8.07. Books and Records; Inspection Rights 88 Section 8.08 95 SECTION 8.08. Compliance with Laws 88 Section 8.09 95 SECTION 8.09. Environmental Matters 88 Section 8.10 95 SECTION 8.10. Further Assurances 89 Section 8.11 96 SECTION 8.11. Reserve Reports 90 Section 8.12 97 SECTION 8.12. Title Information 92 Section 8.13 98 SECTION 8.13. Additional Collateral; Additional Subsidiary Guarantors; Release of Certain Guarantors/Collateral 93 Section 8.14 99 SECTION 8.14. ERISA and Benefit Plan Compliance 96 Section 8.15 101 SECTION 8.15. Unrestricted Subsidiaries 97 Section 8.16 102 SECTION 8.16. Section 1031 Exchange 97 Section 8.17 102 SECTION 8.17. Use of Proceeds 98 Section 8.18 102 SECTION 8.18. Fiscal Year 98 ARTICLE IX Negative Covenants 98 Section 9.01 Financial Covenants 98 Section 9.02 Debt 98 Section 9.03 102 SECTION 9.01. Limitation on Indebtedness 103 SECTION 9.02. Limitation on Restricted Payments 107 SECTION 9.03. Limitation on Liens 101 Section 9.04 Dividends 112 SECTION 9.04. Limitation on Sale/Leaseback Transactions 113 SECTION 9.05. Limitation on Restrictions on Distributions from Restricted Subsidiaries 113 SECTION 9.06. Limitation on Sales of Assets and Distributions 103 Section 9.05 Repayment of Debt; Amendment of Indentures 104 Section 9.06 Investments, Loans and Advances 104 Section 9.07 Designation and Conversion of Restricted and Unrestricted Subsidiaries 108 Section 9.08 Nature of Business; International Operations 108 Section 9.09 Mergers, Etc 108 Section 9.10 Subsidiary Stock 115 SECTION 9.07. Limitation on Affiliate Transactions 118 SECTION 9.08. Limitation on Sale of Properties and Termination of Oil and Gas Swap Agreements 109 Section 9.11 Transactions with Affiliates 112 Section 9.12 Negative Pledge Agreements; Dividend Restrictions 112 Section 9.13 Swap Agreements 112 Section 9.14 Ownership Capital Stock of Restricted Subsidiaries 113 Section 9.15 Amendments to Organizational Documents 113 ARTICLE X Events of Default; Remedies 113 Section 10.01 Events of Default 113 Section 10.02 Remedies 116 ARTICLE XI The Agents 117 Section 11.01 Appointment; Powers 117 Section 11.02 Duties 119 SECTION 9.09. Merger and Obligations of Administrative Agent 117 Section 11.03 Action by Administrative Agents 118 Section 11.04 Reliance by Administrative Agents Consolidation 119 Section 11.05 Subagents 119 Section 11.06 Resignation of Administrative Agents 119 Section 11.07 Agents as Lenders 120 Section 11.08 No Reliance 120 Section 11.09 Administrative Agent May File Proofs of Claim 120 Section 11.10 Authority Of Administrative Agent To Release Collateral And Liens 121 Section 11.11 The Arrangers, Syndication Agent and Co-Documentation Agents 121 ARTICLE XII Miscellaneous 122 Section 12.01 Notices 122 Section 12.02 Waivers; Amendments 123 Section 12.03 Expenses, Indemnity; Damage Waiver 124 Section 12.04 Successors and Assigns 127 Section 12.05 Survival; Revival; Reinstatement 130 Section 12.06 Counterparts; Integration; Effectiveness 131 Section 12.07 Severability 131 Section 12.08 Right of Setoff 132 Section 12.09 GOVERNING LAW; JURISDICTION 132 Section 12.10 Headings 133 Section 12.11 Confidentiality 133 Section 12.12 Interest Rate SECTION 9.10. Limitation 134 Section 12.13 EXCULPATION PROVISIONS 135 Section 12.14 Collateral Matters; Swap Agreements 135 Section 12.15 No Third Party Beneficiaries 136 Section 12.16 USA Patriot Act Notice 136 Section 12.17 Anti-Money Laundering Legislation 136 Section 12.18 No Fiduciary Duty 137 Section 12.19 Amendment and Restatement Mechanics 137 Section 12.20 Acknowledgment of Intercreditor Agreement 138 Section 12.21 Termination of Existing Pledge Agreement 138 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Borrowing Request Exhibit C Form of Interest Election Request Exhibit D Form of Compliance Certificate Exhibit E-1 Security Instruments Exhibit E-2 Form of Guaranty Agreement Exhibit F Form of Assignment and Assumption Exhibit G Form of Pledge Agreement Schedule 1.02 Initial Guarantors Schedule 3.05 Grandfathered Letters of Credit Schedule 7.11 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.12 Insurance Schedule 9.02 Existing Debt Schedule 9.03 Liens Schedule 9.06 Investments Schedule 9.08 Nature on Lines of Business THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as 121 SECTION 9.11. Payments for Consent 121 SECTION 9.12. Offer to Repurchase Upon Change of December 22, 2011 (as amended, modified, supplemented or restated from time to time, this “Agreement”), is among QUICKSILVER RESOURCES INC., a Delaware corporation (the “Parent”), QUICKSILVER RESOURCES CANADA INC., a corporation organized under the laws of the Province of Alberta, Canada (the “Borrower”); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK, N.A., Toronto Branch, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”); JPMORGAN CHASE BANK, N.A., as global administrative agent for the Lenders, and when appropriate, for the Lenders and U.S. Lenders (in such capacity, together with its successors in such capacity, the “Global Administrative Agent”); THE BANK OF NOVA SCOTIA, as syndication agent (in such capacity, the “Syndication Agent”); and THE TORONTO-DOMINION BANK and CANADIAN IMPERIAL BANK OF COMMERCE, as co-documentation agents (in such capacity, the “Co-Documentation Agents”)Control 121 SECTION 9.13. The joint lead arrangers for the credit facility provided under this Agreement are X.X. XXXXXX SECURITIES LLC and THE BANK OF NOVA SCOTIA (collectively, the “Joint Lead Arrangers”).Negative Pledge Agreements 121
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Samples: Second Lien Credit Agreement (Quicksilver Resources Inc)
