GENERAL ASSIGNMENT AND BILL OF SALE
Exhibit 10.2
GENERAL ASSIGNMENT AND XXXX OF SALE
Reference is made to (i) that certain Strict Foreclosure Agreement, dated as of November 17, 2020 (as amended, supplemented or otherwise modified from time to time in accordance with the terms hereof, the “Strict Foreclosure Agreement”), by and among Summit Midstream Partners Holdings, LLC (“Borrower”) and a Summit Midstream Partners, LLC, as “Debtors”, and Credit Suisse AG, Cayman Islands Branch, as “Collateral Agent” (in such capacity, the “Collateral Agent”) and (ii) that certain Term Loan Agreement, dated as of March 21, 2017 (as amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”), by and among the Borrower, the lenders from time to party thereto, and the Collateral Agent. Capitalized terms used but not otherwise defined herein shall have the respective meanings assigned thereto in the Strict Foreclosure Agreement, and, if not defined therein, in the Credit Agreement.
This General Assignment and Xxxx of Sale is being delivered pursuant to the Strict Foreclosure Agreement.
For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Debtors hereby assign, transfer and convey (and shall be automatically deemed to have assigned, transferred and conveyed at the Effective Time) to each Applicable Transferee set forth on Schedule I hereto, such Applicable Transferee’s Ratable Share (as set forth on Schedule I hereto opposite such Applicable Transferee’s name) of Debtors’ right, title and interest in and to 2,306,972 common units (the “Applicable Units”) representing limited partner interests in Summit Midstream Partners, LP (“SMLP Common Equity”).
Pursuant to, and in accordance with, the Loan Documents, and Article 9 of the Uniform Commercial Code of the State of New York (together with the equivalent provisions of each other relevant jurisdiction, collectively, the “UCC”), the Borrower has pledged, and granted a Lien in favor of the Collateral Agent (for the benefit of the Lenders) on, 2,306,972 units of SMLP Common Equity (the “Specified Collateral”), and the portion of Specified Collateral representing the Applicable Units is hereby sold, assigned, transferred and conveyed to the Applicable Transferees (in accordance with their respective Ratable Shares) by virtue of the provisions of Section 9-620 of the UCC. Upon all Specified Collateral being conveyed to the Applicable Transferees (in their capacity as the Persons entitled thereto under the Loan Documents) in accordance with the Strict Foreclosure Agreement, and upon satisfaction of all other conditions to the Strict Foreclosure set forth in the Strict Foreclosure Agreement and the occurrence of the Effective Time, all Obligations (except any Surviving Obligations) owing to the Applicable Transferees shall be satisfied in full pursuant to the UCC and other applicable law.
The transfer of the Specified Collateral effectuated under this General Assignment and Xxxx of Sale is made in accordance with, and pursuant to, (i) the UCC and other applicable law, and (ii) the Strict Foreclosure Agreement, the Credit Agreement and the other applicable Loan Documents (including the Collateral Agreement).
[Remainder of page intentionally left blank; signature page follows]
IN WITNESS WHEREOF, the undersigned have caused this General Assignment and Xxxx of Sale to be duly executed as of the 17th day of November, 2020.
| SUMMIT MIDSTREAM PARTNERS HOLDINGS, LLC | ||
| By: | /s/ J. XXXXX XXXXXX | |
| Name: J. Xxxxx Xxxxxx | ||
| Title: President and Chief Executive Officer | ||
| SUMMIT MIDSTREAM PARTNERS, LLC | ||
| By: | /s/ J. XXXXX XXXXXX | |
| Name: J. Xxxxx Xxxxxx | ||
| Title: President and Chief Executive Officer | ||
SCHEDULE I
| Applicable Transferee |
Applicable Units | |||
| Delaware Floating Rate Fund, a series of Delaware Group Income Funds |
23061 | |||
| Macquarie Senior Secured Loans Fund |
1665 | |||
| Macquarie/ First Trust Global Infrastructure / Utilities Dividend and Income Fund |
16337 | |||
| ALLIANZGI CONVERTIBLE & INCOME 0000 XXXXXX XXXX XXXX |
00000 | |||
| XXX XXXXX XXXXXX EMPLOYEES RETIREMENT ASSOCIATION |
27850 | |||
| WEST CLO 2013-1 LTD |
35959 | |||
| WEST CLO 2014-1 LTD |
40454 | |||
| WEST CLO 2014-2 LTD |
50972 | |||
| B&M CLO 2014-1 Ltd |
30553 | |||
| Midwest Operating Engineers Pension Trust Fund |
2059 | |||
| Bank Loan Core Fund |
31464 | |||
| BCM 2014-I ETB, Inc. |
23223 | |||
| BLLC 2019-I ETB, Inc. |
18243 | |||
| BLLC 2019-II ETB, Inc. |
6940 | |||
| Corre Opportunities Qualified Master Fund, LP |
36884 | |||
| Corre Horizon Fund, LP |
7495 | |||
| DoubleLine Income Solutions Fund |
33058 | |||
| DoubleLine Opportunistic Credit Fund |
4104 | |||
| Parallel ETB 2015-1 Ltd. |
2861 | |||
| Parallel ETB 2017-1 Ltd. |
4333 | |||
| Parallel ETB 2018-1 Ltd. |
4281 | |||
| Xxxxxxxxx LLC |
3475 | |||
| PensionDanmark Pensionsforsikringsaktieselskab c/o Oak Hill Advisors, LP |
10034 | |||
| Pioneer High Income Trust |
12271 | |||
| Pioneer Diversified High Income Trust |
5709 | |||
| Pioneer Floating Rate Fund |
6293 | |||
| Pioneer Floating Rate Trust |
23920 | |||
| Ares XXVII CLO Tax Subsidiary Inc. |
12189 | |||
| Ares XXVIIIR CLO Tax Subsidiary Inc. |
13531 | |||
| Applicable Transferee |
Applicable Units | |||
| Ares XXIX CLO Tax Subsidiary Inc. |
10615 | |||
| Ares XXXIR CLO Tax Subsidiary Inc. |
22374 | |||
| Ares XXXIIR CLO Tax Subsidiary Inc. |
11874 | |||
| Ares XXXIV CLO Tax Subsidiary Inc. |
18999 | |||
| Ares XXXVR CLO Tax Subsidiary Inc. |
10974 | |||
| Ares XXXVII CLO Issuer Subsidiary Inc. |
17083 | |||
| Ares XXXVIII CLO Tax Subsidiary Inc. |
10408 | |||
| Ares XXXIX CLO Tax Subsidiary Inc. |
11874 | |||
| Ares XL CLO Tax Subsidiary Inc. |
17533 | |||
| Ares XLI CLO Tax Subsidiary Inc. |
15166 | |||
| Ares XLII CLO Tax Subsidiary Inc. |
11403 | |||
| Ares XLIII CLO Tax Subsidiary Inc. |
17607 | |||
| Ares XLIV CLO Tax Subsidiary Inc. |
43316 | |||
| Ares XLV CLO Issuer Subsidiary Inc. |
11265 | |||
| Ares XLVI CLO Tax Subsidiary Inc. |
14657 | |||
| Ares XLVII CLO Tax Subsidiary Inc. |
17100 | |||
| Ares XLVIII CLO Tax Subsidiary Inc. |
12843 | |||
| Ares XLIX CLO Tax Subsidiary Inc. |
11332 | |||
| Apidos CLO XI Blocker B |
14803 | |||
| Apidos CLO XII Blocker A |
13380 | |||
| Apidos CLO XV Blocker A |
15164 | |||
| Apidos CLO XVIII-R Blocker A |
19850 | |||
| Apidos CLO XX Blocker A |
14329 | |||
| Apidos CLO XXI Blocker A |
15002 | |||
| Apidos CLO XXII Blocker A |
16707 | |||
| Apidos CLO XXIII Blocker A |
16628 | |||
| Apidos CLO XXIV Blocker A |
14728 | |||
| Apidos CLO XXIX Blocker A |
17321 | |||
| Apidos CLO XXV Blocker A |
21773 | |||
| Apidos CLO XXVI Blocker A |
17265 | |||
| Apidos CLO XXVII Blocker A |
16284 | |||
| Apidos CLO XXVIII Blocker A |
25377 | |||
| Apidos CLO XXX Blocker A |
15946 | |||
| Apidos CLO XXXI Blocker A |
21409 | |||
| Applicable Transferee |
Applicable Units | |||
| CVC Credit Partners Global Yield Blocker, LLC |
5607 | |||
| AMMC CLO 20, LIMITED |
8990 | |||
| Blue Cross and Blue Shield of Florida, Inc. |
8209 | |||
| BAYVK R2-FONDS |
24437 | |||
| EAF comPlan II - Private Debt |
1824 | |||
| Chevron Master Pension Trust |
5929 | |||
| GGH US BL Ametrine Sub-Trust a Sub- Trust of Guggenheim Amethyst Trust |
2919 | |||
| Endurance Assurance Corporation |
1824 | |||
| Guggenheim Taxable Municipal Managed Duration Trust |
1140 | |||
| Guggenheim Energy and Income Fund |
6894 | |||
| Guggenheim Credit Allocation Fund |
16582 | |||
| Guggenheim Funds Trust - Guggenheim Hi gh Xxxxx Xxxx |
0000 | |||
| Xxxxxxxxxx Funds Trust - Guggenheim Floating Rate Strategies Fund |
6894 | |||
| Guggenheim Funds Trust - Xxxxxxxxxx Xxxxx Xxxxxxxxxxxxx Xxxx |
00000 | |||
| Xxxxxxxxxx Strategic Opportunities Fund |
15963 | |||
| Health Care Service Corporation, a Mutual Legal Reserve Company |
5473 | |||
| I.A.M. National Pension Fund |
2280 | |||
| Maverick Enterprises, Inc. |
3792 | |||
| Midland National Life Insurance Company |
17103 | |||
| GGH Leveraged Loan Fund, A Series Trust of MYL Global Investment Trust |
2280 | |||
| North American Company for Life and Health Insurance |
1596 | |||
| PartnerSelect High Income Alternatives Fund |
228 | |||
| Sonoma County Employees’ Retirement As sociation |
1824 | |||
| ZILUX FCP-SIF - Zilux Senior Loans Global |
5017 | |||
| 1828 PPP, LLC |
6841 | |||
| Auburn PPP, LLC |
12410 | |||
| Guggenheim CLO 2019-1 PPP, LLC |
13941 | |||
| Hempstead II PPP, LLC |
11082 | |||
| Applicable Transferee |
Applicable Units | |||
| Xxxxxx Field II PPP, LLC |
60325 | |||
| Seven Sticks PPP, LLC |
15050 | |||
| GPF SMLP, LLC |
24096 | |||
| City National Rochdale Fixed Income Opportunities Fund |
14133 | |||
| Mountain View CLO IX Tax Sub LLC |
16978 | |||
| Mountain View CLO X Tax Sub LLC |
34717 | |||
| Mountain View CLO XIV Tax Sub LLC |
28390 | |||
| Mountain View CLO 2013-1 Tax Sub LLC |
12336 | |||
| Mountain View CLO 2014-1 Tax Sub LLC |
8981 | |||
| Mountain View CLO 2016-1 Tax Sub LLC |
8152 | |||
| Mountain View CLO 2017-1 Tax Sub LLC |
20683 | |||
| Mountain View CLO 2017-2 Tax Sub LLC |
10334 | |||
| Virtus Seix Floating Rate High Income Fund |
114583 | |||
| Credit Suisse Loan Funding LLC |
128892 | |||
| BNPP IP CLO 2014-I, Ltd. |
21719 | |||
| BNPP IP CLO 2014-II, Ltd. |
21719 | |||
| PPM Floating Rate Income Fund |
412 | |||
| JNL/PPM America Floating Rate Income Fund |
16064 | |||
| PPM CLO 2018-1 Ltd. |
8232 | |||
| PPM CLO 3 Ltd. |
0000 | |||
| Xxxx Xxxxx Fund, LLC |
14512 | |||
| TCI-Flatiron CLO 2016-1 Equity Holdings LLC |
6030 | |||
| TCI-Flatiron CLO 2017-1 Equity Holdings LLC |
9653 | |||
| TCI-Flatiron CLO 2018-1 Equity Holdings LLC |
6359 | |||
| Flatiron CLO 2015-1 Equity Holdings LLC |
4822 | |||
| Flatiron CLO 2017-1 Equity Holdings LLC |
5063 | |||
| Flatiron CLO 2018-1 Equity Holdings LLC |
7875 | |||
| Flatiron CLO 2019-1 Equity Holdings LLC |
6897 | |||
| New York Life Insurance Company |
3051 | |||
| New York Life Insurance and Annuity Corporation |
2120 | |||
| MainStay Floating Rate Fund, a series of MainStay Funds Trust |
15430 | |||
| Applicable Transferee |
Applicable Units | |||
| MainStay VP Floating Rate Portfolio, a series of MainStay VP Funds Trust |
8438 | |||
| CIFC 2012-II-R Blocker 1 LLC |
5723 | |||
| CIFC 2013-III-R Blocker 1 LLC |
4483 | |||
| CIFC 2013-IV Blocker 1 LLC |
2353 | |||
| CIFC 2014 Blocker 1 LLC |
9438 | |||
| CIFC 2014-III Blocker 1 LLC |
5200 | |||
| CIFC 2014-II-R Blocker 1 LLC |
5136 | |||
| CIFC 2014-IV-R Blocker 1 LLC |
4460 | |||
| CIFC 2014-V Blocker 1 LLC |
8839 | |||
| CIFC 2015-I Blocker 1 LLC |
9018 | |||
| CIFC 2015-II Blocker 1 LLC |
6750 | |||
| CIFC 2015-III Blocker 1 LLC |
4969 | |||
| CIFC 2015-IV Blocker 1 LLC |
3593 | |||
| CIFC 2015-V Blocker 1 LLC |
3269 | |||
| CIFC 2016-I Blocker 1 LLC |
4985 | |||
| CIFC 2017-I Blocker 1 LLC |
24597 | |||
| CIFC 2017-II Blocker 1 LLC |
14627 | |||
| CIFC 2017-III Blocker 1 LLC |
17167 | |||
| CIFC 2017-IV Blocker 1 LLC |
10563 | |||
| CIFC 2017-V Blocker 1 LLC |
20481 | |||
| CIFC 2018-I Blocker 1 LLC |
10813 | |||
| CIFC 2018-III Blocker 1 LLC |
11787 | |||
| CIFC 2018-V Blocker 1 LLC |
8082 | |||
| CIFC 2019-I Blocker 1 LLC |
24698 | |||
| CIFC 2019-II Blocker 1 LLC |
36486 | |||
| CIFC 2019-III Blocker 1 LLC |
37566 | |||
| CIFC 2019-IV Blocker 1 LLC |
14384 | |||
| CIFC Loan Opportunity Fund Blocker 1 LLC |
12824 | |||
| CIFC Loan Opportunity Fund II Blocker 1 LLC |
9618 | |||
| JSS Special Investments FCP (SIF) - JSS Senior Loan Fund |
38171 | |||
| Total |
2,306,972 | |||
