THIRD AMENDING AGREEMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
EXHIBIT 10.24
AMENDED AND RESTATED CREDIT AGREEMENT
dated as of December 16, 2013
ALTALINK INVESTMENT MANAGEMENT LTD.,
in its capacity as general partner of
ALTALINK INVESTMENTS, L.P.,
as Borrower,
-and-
ALTALINK INVESTMENT MANAGEMENT LTD.,
as General Partner,
-and-
ROYAL BANK OF CANADA,
as Administrative Agent of the Lenders, and as Lender,
-and-
THE LENDERS PARTY HERETO,
as Lenders
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THIRD AMENDING AGREEMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 16, 2013, among AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P., as Borrower, AltaLink Investment Management Ltd., as General Partner, Royal Bank of Canada, as Agent on behalf of itself as Lender and the other Lenders party hereto.
RECITALS
WHEREAS AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P ., as Borrower, Royal Bank of Canada, as Agent on behalf of itself as Lender and the other Lenders are parties to an Amended and Restated Credit Agreement made as of December 14, 2011 (as amended by a first amending agreement dated as of April 27, 2012 and a second amending agreement dated as of December 14, 2012, the "Original Credit Agreement");
AND WHEREAS the Borrower, the General Partner, the Lenders and the Agent have agreed to amend certain provisions of the Original Credit Agreement in the manner and on the terms and conditions provided for herein.
NOW THEREFORE for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
1.1 Definitions
All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Original Credit Agreement.
ARTICLE 2
AMENDMENT
2.1 | Amendment to Definition of Maturity Date. The parties hereto confirm that the definition of "Maturity Date" in the Original Credit Agreement shall be amended by replacing the date "December 14, 2016" with the date "December 14, 2018" in such definition. |
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ARTICLE 3
CONDITIONS PRECEDENT
3.1 Conditions Precedent
This Third Amending Agreement shall become effective when:
(a) the Agent shall have received this Third Amending Agreement duly executed and delivered by the Agent, the Lenders, the Borrower and the General Partner; and
(b) the Agent has received an extension fee from the Borrower, which fee shall be in the amount of 12 bps (being 6 bps for each additional year of extension of the Maturity Date) calculated on the Commitment of each Lender party to this Third Amending Agreement, and payable to each such Lender.
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
4.1 Representations and Warranties True and Correct; No Default or Event of Default
The Borrower and General Partner each hereby represents and warrants to the Agent and the Lenders that after giving effect to this Third Amending Agreement, (i) each of the representations and warranties of the Borrower and the General Partner, as the case may be, contained in the Original Credit Agreement and each of the other Loan Documents is true and correct on, and as of the date hereof as if made on such date (except to the extent that such representation or warranty expressly relates to an earlier date and except for changes therein expressly permitted or expressly contemplated by the Original Credit Agreement) and (ii) no event has occurred and is continuing which constitutes or would constitute a Default or an Event of Default.
ARTICLE 5
MISCELLANEOUS
5.1 No Other Amendments, Waivers or Consents
Except as expressly set forth herein, the Original Credit Agreement and all Loan Documents shall be unmodified and shall continue to be in full force and effect in accordance with their terms. The execution, delivery and effectiveness of the amendment in this Third Amending Agreement shall not be deemed to be a waiver of compliance in the future or a waiver of any preceding or succeeding breach of any covenant or provision of the Original Credit Agreement.
5.2 Time
Time is of the essence in the performance of the parties' respective obligations in this Third Amending Agreement.
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5.3 Governing Law
This Third Amending Agreement is a contract made under and shall be governed by and construed in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable therein.
5.4 Successors and Assigns
This Third Amending Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective successors and any assigns, transferees and endorsees of the Agent or any Lender. Nothing in this Third Amending Agreement, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under this Third Amending Agreement.
5.5 Counterparts
This Third Amending Agreement may be executed by the parties hereto in counterparts and may be executed and delivered by facsimile or other electronic means and all such counterparts and facsimiles shall together constitute one and the same agreement.
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IN WITNESS OF WHICH the parties hereto have duly executed this Third Amending Agreement as of the date set forth on the first page of this Agreement.
ALTALINK INVESTMENT | ||
MANAGMENT LTD., | ||
in its capacity as a General Partner of | ||
ALTALINK INVESTMENTS, L.P. | ||
By: | /s/ Xxx Xxxxxxx | |
Name: | Xxx Xxxxxxx | |
Title: | V.P., Finance | |
By: | /s/ Nicolas Poplemon | |
Name: | Nicolas Poplemon | |
Title: | Director | |
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ALTALINK INVESTMENT | ||
MANAGMENT LTD., | ||
By: | /s/ Xxx Xxxxxxx | |
Name: | Xxx Xxxxxxx | |
Title: | V.P., Finance | |
By: | /s/ Nicolas Poplemon | |
Name: | Nicolas Poplemon | |
Title: | Director | |
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ROYAL BANK OF CANADA, | ||
as Agent | ||
By: | /s/ Xxxxxx Xxxxxxx | |
Name: | Xxxxxx Xxxxxxx | |
Title: | Manager Agency | |
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ROYAL BANK OF CANADA, | ||
as Lender | ||
By: | /s/ Xxxxxxx X. Xxxxxx | |
Name: | Xxxxxxx X. Xxxxxx | |
Title: | Authorized Signatory | |
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BANK OF MONTREAL, | ||
as Lender | ||
By: | /s/ Xxxxx XxXxxxxx | |
Name: | Xxxxx XxXxxxxx | |
Title: | Vice President | |
By: | ||
Name: | ||
Title: | ||
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ALBERTA TREASURY BRANCHES, | ||
as Lender | ||
By: | /s/ Xxx Xxxxx | |
Name: | Xxx Xxxxx | |
Title: | Senior Director | |
By: | /s/ Xxxxxx Xxxxxxx | |
Name: | Xxxxxx Xxxxxxx | |
Title: | Senior Associate Director | |
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BANK OF NOVA SCOTIA, | ||
as Lender | ||
By: | ||
Name: | Xxxxxxx Xxxxxx | |
Title: | Director | |
By: | ||
Name: | Xxxxxxx Hartnoli | |
Title: | Associate Director | |
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BANK OF NOVA SCOTIA, | ||
as Lender | ||
By: | /s/ Xxxxxxx Xxxxxx | |
Name: | Xxxxxxx Xxxxxx | |
Title: | Director | |
By: | /s/ Xxxxxxx Xxxxxxxx | |
Name: | Xxxxxxx Xxxxxxxx | |
Title: | Associate Director | |
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NATIONAL BANK OF CANADA, | ||
as Lender | ||
By: | /s/ Xxxx Xxxxxxxxxx | |
Name: | Xxxx Xxxxxxxxxx | |
Title: | Authorized Signatory | |
By: | /s/ Xxxx Xxxxxxxxxx | |
Name: | Xxxx Xxxxxxxxxx | |
Title: | Authorized Signatory | |
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