WAIVER TO AMENDED AND RESTATED RESTRUCTURING SUPPORT AGREEMENT

EX-10.1 2 d27987dex101.htm EX-10.1 EX-10.1

Exhibit 10.1

WAIVER TO AMENDED AND RESTATED

RESTRUCTURING SUPPORT AGREEMENT

This WAIVER TO AMENDED AND RESTATED RESTRUCTURING SUPPORT AGREEMENT (this “Waiver”) is made as of August 18, 2015 (the “Waiver Effective Date”), by and among (a) Allied Nevada Gold Corp., a Delaware corporation (“ANV”), and its undersigned direct and indirect subsidiaries (together with ANV, the “Debtors”), (b) the Requisite Consenting Noteholders (as defined in the Amended RSA (as defined below)), and (c) the Requisite Secured Lenders (as defined in the Amended RSA). Capitalized terms used but not otherwise defined herein have the meanings ascribed to such terms in the Amended RSA.

PRELIMINARY STATEMENTS:

WHEREAS, on July 23, 2015, the Debtors entered into that certain Amended and Restated Restructuring Support Agreement (the “Amended RSA”) with the entities party thereto as “Creditor Parties” thereunder, which amended and restated in its entirety that certain Restructuring Support Agreement, dated as of March 10, 2015, pursuant to which the Debtors and such Creditor Parties agreed to implement a restructuring and reorganization as set forth in the Modified Plan;

WHEREAS, the Debtors have requested that the Requisite Consenting Noteholders and the Requisite Secured Lenders grant certain waivers and consents under the Amended RSA, as set forth herein; and

WHEREAS, the Requisite Consenting Noteholders and the Requisite Secured Lenders are willing to grant such consents and waivers on the terms, subject to the conditions and in reliance on the representations and warranties set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:

1. Waiver of Creditor Party Termination Event. Effective as of the Waiver Effective Date, the Requisite Consenting Noteholders and the Requisite Secured Lenders grant all waivers and consents that may be necessary or required under the Amended RSA to waive the Creditor Party Termination Event arising under Section 5(a)(vi) of the Amended RSA as a result of the Bankruptcy Court granting relief terminating the automatic stay (as set forth in section 362 of the Bankruptcy Code) with regard to the lifting of the automatic stay with respect to those assets set forth on Schedule A annexed hereto.

2. Continued Effect of the Amended RSA. Except as expressly provided herein, this Waiver shall not, by implication or otherwise, alter, modify, amend or in any way affect any of the obligations or covenants contained in the Amended RSA, all of which are ratified and confirmed in all respects by the parties hereto and shall continue in full force and effect.


3. Effectiveness.

This Waiver shall become effective and binding upon:

(a) the Creditor Parties on the date when counterpart signature pages to this Waiver have been executed and delivered by the Debtors and each of the Consenting Noteholders and the Secured Lenders; provided, however, that signature pages executed by the Creditor Parties shall be delivered to (i) other Creditor Parties in a redacted form that removes the Creditor Parties’ holdings of Claims and Interests, and (ii) the Debtors in an unredacted form; and

(b) the Debtors on the later of the date upon which the Bankruptcy Court enters the Disclosure Statement Order and the RSA Order; provided, however, that the Debtors shall execute and deliver to the Creditor Parties this Waiver concurrently with the execution by the Creditor Parties.

With respect to any Creditor Party that becomes or has become a party to the Amended RSA by executing and delivering a Joinder Agreement after the Restructuring Support Effective Date, this Waiver shall become effective and binding as to such Creditor Party at the time such Joinder Agreement is delivered to the Debtors.

4. Entire Agreement. This Waiver, together with the Amended RSA, constitutes the entire agreement of the parties hereto, and supersedes all other prior negotiations, with respect to the subject matter hereof. Except as modified by this Waiver, the Amended RSA shall continue in full force and effect. Each reference to the Amended RSA hereafter made in any document, agreement, instrument, notice or communication shall mean and be a reference to the Amended RSA as modified hereby.

5. Severability. If any provision of this Waiver, or the application of any such provision to any Person or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof shall continue in full force and effect.

6. Counterparts. This Waiver may be executed in several counterparts, each of which shall be deemed to be an original, and all of which together shall be deemed to be one and the same agreement. Execution copies of this Waiver may be delivered by facsimile or otherwise, which shall be deemed to be an original for the purposes of this Section 5.

7. Governing Law. THIS WAIVER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISIONS WHICH WOULD REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION.

[Remainder of Page Intentionally Left Blank]


IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be executed and delivered by their respective duly authorized officers, solely in their respective capacity as officers of the undersigned and not in any other capacity, as of the Waiver Effective Date.

 

Allied Nevada Gold Corp.
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Executive Vice President & CFO
Allied Nevada Gold Holdings LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
Allied VGH Inc.
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
Allied VNC Inc.
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
ANG Central LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer


ANG Cortez LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
ANG Eureka LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
ANG North LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
ANG Northeast LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
ANG Pony LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer


Hasbrouck Production Company LLC
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
Hycroft Resources & Development, Inc.
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
Victory Exploration Inc.
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer
Victory Gold Inc.
By:  

/s/ Stephen M. Jones

  Name:   Stephen M. Jones
  Title:   Chief Financial Officer


CONSENTING NOTEHOLDER
By:  

 

  Name:
  Title:
By:  

 

  Name:
  Title:
Notice Address:

 

 

 

Facsimile:  

 

Attention:  

 

 

[Signature Page to Waiver to Amended and Restated Restructuring Support Agreement]


SECURED LENDER
By:  

 

  Name:  

 

  Title:  

 

By:  

 

  Name:  

 

  Title:  

 

 

[Signature Page to Waiver to Amended and Restated Restructuring Support Agreement]


Schedule A

 

Lessor

  

Equipment Description

BofA    2013 Komatsu Model 930E-4 Electric Mining Truck, Stock No. 10763, Serial No. A31492
BofA    Komatsu Model 930E-4 Electric Mining Truck, Stock No. 10768, Serial No. A31537
BofA    Komatsu Model 930E-4 Electric Mining Truck, Stock No. 10774, Serial No. A31609
BofA    Western Star Model 4900SB Tire Truck, Vehicle Identification No. 5KKHALCK3EPFM2479, together with FEC Model 29017 Tire Handler and Rear Stabilizer
People’s Capital    Volvo L350F Wheel Loader, Serial No. 14444, with one (1) 156” 10.1 YD3 Spade Nose Bucket, Serial No. 85007-36309
People’s Capital    2012 Komatsu MT Model HD785-7 Haul Truck, Serial No. 30136, with 2012 MS HD785-Tank Mega 20000 Gal Water Tank, Serial No. 12-71170
People’s Capital    2013 Komatsu Model 930E-4 Electric Mining Truck, Serial No. A31488, Stock No. 10762
MB Financial    Komatsu Model 930E-4 Electric Mining Truck, Stock No. 10769, Serial No. A31552
MB Financial    Immersive Technologies, Inc. Pro 3 CR Mine Simulator, including specified components
MB Financial    Caterpillar, Model 16M Motor Grader, Serial No. R9H00493
KEF    Hitachi EX5500-S6 Hydraulic Mining Shovel/Excavator, Serial No. HCM18N00K00001051
Washington Federal    Hitachi EX5500S6 Excavator with 35.5 Cubic Yard Bucket, Serial No. HCM18N00C00001059
Western Alliance    2013 Komatsu Model 930E-4 Electric Mining Truck, Stock No. 10761, Serial No. A31486
Western Alliance    Komatsu Model 930E-4 Electric Mining Truck, Stock No. 10767, Serial No. A31532
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4582E
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4630
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4719
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4720
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4662
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4754
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4753


Atlas Copco    DM45 Drill, Serial No. 8619
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4759
Atlas Copco    Atlas Copco PV271 Drill, Serial No. 4758
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31034
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31135
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31134
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31299
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31301
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31328
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31330
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31332
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31334
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31358
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31387
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31389
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31480
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31519
Komatsu    Komatsu 930E-4 Haul Truck, Serial No. A31525
Caterpillar Financial Services    Caterpillar model 7495 Rope Shovel, Serial No. 00141487
Caterpillar Financial Services    Caterpillar model 7495 Rope Shovel, Serial No. 00141486
Caterpillar Financial Services    Caterpillar model 7495 Rope Shovel, Serial No. 00141488
Caterpillar Financial Services    Caterpillar D10R Dozer, Serial No. AKT75002
Caterpillar Financial Services    Caterpillar 795F Haul Truck, Serial No. ERM00159


Caterpillar Financial Services    Caterpillar 795F Haul Truck, Serial No. ERM00158
Caterpillar Financial Services    Caterpillar 834H Wheel Dozer, Serial No. BTX01276
Caterpillar Financial Services    Caterpillar 834H Wheel Dozer, Serial No. BTX01258
Caterpillar Financial Services    Caterpillar D11T Tractor, Serial No. JEL00331
Bridge Capital    Komatsu Model 930E-3 Electric Mining Truck, Stock #10770, Serial Number A31557
Bridge Capital    Komatsu Model 930E-4 Electric Mining Truck, Stock #10770, Serial Number A31561
All Points Capital Corp. D/B/A Capital One Equipment Leasing    Hitachi EX5500-S6 Excavator, Serial No. HCM18N00K00001052