FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
EX-10.1 2 h74502exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
FIRST AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT
AMENDED AND RESTATED CREDIT AGREEMENT
THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this First Amendment) is entered into on the 11th day of May, 2010 (the First Amendment Closing Date), by and among NRP (OPERATING) LLC, a Delaware limited liability company (the Borrower), the banks and other financial institutions listed on the signature pages hereto (together with each other person who becomes a Lender, collectively the Lenders) including CITIBANK, N.A., a national banking association, as Administrative Agent and as a Lender.
Preliminary Statement
WHEREAS, Borrower, Administrative Agent and the Lenders are parties to that certain Amended and Restated Credit Agreement dated as of March 28, 2007 (as same may be further amended, restated, increased and extended, the Credit Agreement), under and subject to the terms of which the Lenders have committed to make Revolving Loans and issue Letters of Credit to Borrower; and
WHEREAS, Borrower has now requested that the Lenders further modify the Credit Agreement to change certain terms thereof; and
WHEREAS, Borrower and the Lenders wish to execute this First Amendment to evidence such agreement;
NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower and the Required Lenders hereby agree as follows (all capitalized terms used herein and not otherwise defined shall have the meanings as defined in the Credit Agreement):
Section 1. Amendment to Section 6.06. Section 6.06 of the Credit Agreement is hereby amended by deleting subclause (i) thereof in its entirety and replacing it with the following:
(i) any Subsidiary may make Restricted Payments with respect to Equity Interests in such Subsidiary; and
Section 2. Amendment to Schedule 3.14. Schedule 3.14 to the Credit Agreement is hereby deleted in its entirety and replaced by Schedule 3.14 attached hereto.
Section 3. Representations True; No Default. Borrower represents and warrants that:
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(a) this First Amendment has been duly authorized, executed and delivered on its behalf; the Credit Agreement, as amended hereby, together with the other Loan Documents to which Borrower is a party, constitute valid and legally binding agreements of Borrower enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law;
(b) the representations and warranties of Borrower contained in Article III of the Credit Agreement are true and correct in all material respects on and as of the date hereof as though made on and as of the date hereof, except to the extent that any such representation or warranty is stated to relate to an earlier date in which case such representation and warranty will be true and correct on and as of such earlier date; and
(c) after giving effect to this First Amendment, no Default or Event of Default under the Credit Agreement has occurred and is continuing.
Section 4. Expenses, Additional Information. Borrower shall pay to Administrative Agent all reasonable expenses incurred in connection with the execution of this First Amendment, including all reasonable expenses incurred in connection with any previous negotiation and loan documentation. Borrower shall furnish to Administrative Agent and Lenders all such other documents, consents and information relating to Borrower as Administrative Agent or any Lender may reasonably require to accomplish the purposes hereof.
Section 5. Effectiveness. This First Amendment shall become effective when, and only when:
(a) Borrower, Administrative Agent and the Required Lenders shall have executed and delivered to the Administrative Agent a counterpart of this First Amendment;
(b) each of the representations and warranties made by the Borrower and each Guarantor in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of the First Amendment Closing Date, except to the extent that any such representation or warranty is stated to relate to an earlier date in which case such representation and warranty will be true and correct on and as of such earlier date;
(c) since December 31, 2009, no event shall have occurred with respect to the Parent, the Borrower and its Subsidiaries, taken as a whole, which, in the reasonable opinion of the Lenders, has had, or could reasonably be expected to have, a Material Adverse Effect; and
(d) Administrative Agent or any Lender or counsel to the Administrative Agent shall receive such other instruments or documents as they may reasonably request.
The Administrative Agent shall notify the Borrower and the Lenders of the First Amendment Closing Date upon the satisfaction or waiver of all of the foregoing conditions, and such notice shall be conclusive and binding.
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Section 6. Miscellaneous Provisions.
(a) From and after the First Amendment Closing Date, the Credit Agreement shall be deemed to be amended and modified as herein provided, and except as so amended and modified the Credit Agreement shall continue in full force and effect.
(b) The Credit Agreement and this First Amendment shall be read and construed as one and the same instrument.
(c) Any reference in any of the Loan Documents to the Credit Agreement shall be a reference to the Credit Agreement as amended by this First Amendment.
(d) This First Amendment shall be construed in accordance with and governed by the laws of the State of New York and of the United States of America.
(e) This First Amendment may be signed in any number of counterparts and by different parties in separate counterparts and may be in original or facsimile form, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.
(f) The headings herein shall be accorded no significance in interpreting this First Amendment.
Section 7. Binding Effect. This First Amendment shall be binding upon and inure to the benefit of Borrower, Lenders and Administrative Agent and their respective successors and assigns, except that Borrower shall not have the right to assign its rights hereunder or any interest herein except in accordance with the terms of the Credit Agreement.
Section 8. Final Agreement of the Parties. This First Amendment may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements. There are no unwritten oral agreements between the parties hereto.
[The remainder of this page intentionally left blank.]
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IN WITNESS WHEREOF, the parties have caused this First Amendment to be executed by their respective duly authorized officers effective as of the First Amendment Closing Date.
NRP (OPERATING) LLC a Delaware limited liability company | ||||||
By | /s/ Dwight Dunlap | |||||
Name: | Dwight L. Dunlap | |||||
Title: | Chief Financial Officer |
[Signature Page to First Amendment to Credit Agreement]
ACKNOWLEDGMENT OF GUARANTORS
Each of the undersigned Guarantors hereby confirms that each Loan Document (as the same may be amended or amended and restated, as the case may be, pursuant to and in connection with this First Amendment) to which it is a party or otherwise bound remains in full force and effect and will continue to secure, to the fullest extent possible, the payment and performance of all Obligations (in each case as such term is defined in the applicable Loan Document), including without limitation the payment and performance of all such Obligations now or hereafter existing under or in respect of the Credit Agreement and the other Loan Documents. The Guarantors specifically reaffirm and extend their obligations under each of their applicable Guaranties to cover all Indebtedness evidenced by the Credit Agreement as same has been created, amended and/or restated by or in connection with this First Amendment. The Guaranties and all the terms thereof shall remain in full force and effect and the Guarantors hereby acknowledge and agree that same are valid and existing and that each of the Guarantors obligations thereunder shall not be impaired or limited by the execution or effectiveness of this First Amendment. Each Guarantor hereby represents and warrants that all representations and warranties contained in this First Amendment and the other Loan Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the First Amendment Closing Date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date. Administrative Agent and the Lenders hereby preserve all of their rights against each Guarantor under its applicable Guaranty and the other Loan Documents to which each applicable Guarantor is a party.
Each Guarantor acknowledges and agrees that (i) notwithstanding the conditions to the effectiveness set forth in this First Amendment, such Guarantor is not required by the terms of the Credit Agreement, this First Amendment or any other Loan Document to consent to the amendments of the Credit Agreement effected pursuant to this First Amendment; and (ii) nothing in the Credit Agreement, this First Amendment or any other Loan Document shall be deemed to require the consent of such Guarantor to any future amendments to the Credit Agreement.
[Signature Page to First Amendment to Credit Agreement]
ACIN LLC, a Delaware limited liability company | ||||||||
By: | NRP (OPERATING) LLC, a Delaware limited liability company, its sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
WBRD LLC, a Delaware limited liability company | ||||||||
By: | NRP (OPERATING) LLC, a Delaware limited liability company, its sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
WPP LLC, a Delaware limited liability company | ||||||||
By: | NRP (OPERATING) LLC, a Delaware limited liability company, its sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
INDEPENDENCE LAND COMPANY, LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer |
[Signature Page to First Amendment to Credit Agreement]
GATLING MINERAL, LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
HOD LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
SHEPARD BOONE COAL COMPANY LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
WILLIAMSON TRANSPORT, LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
LITTLE RIVER TRANSPORT, LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
RIVERVISTA MINING, LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer |
[Signature Page to First Amendment to Credit Agreement]
DEEPWATER TRANSPORTATION, LLC | ||||||||
By: | NRP (OPERATING) LLC, as sole member | |||||||
By: | /s/ Dwight Dunlap | |||||||
Name: | Dwight L. Dunlap | |||||||
Title: | Chief Financial Officer | |||||||
CITIBANK, N.A., a national banking association | ||||||||
By | /s/ Shannon A. Sweeney | |||||||
Name: | Shannon A. Sweeney | |||||||
Title: | Vice President | |||||||
WELLS FARGO BANK, NATIONAL ASSOCIATION | ||||||||
By | /s/ Jonathon R. Richardson | |||||||
Name: | Jonathon R. Richardson | |||||||
Title: | Senior Vice President | |||||||
BANK OF MONTREAL | ||||||||
By | /s/ John M. Cook | |||||||
Name: | John M. Cook | |||||||
Title: | Director | |||||||
BNP PARIBAS | ||||||||
By | /s/ Greg Smothers | |||||||
Name: | Greg Smothers | |||||||
Title: | Director | |||||||
By | /s/ Matthew A. Turner | |||||||
Name: | Matthew A. Turner | |||||||
Title: | Vice President |
[Signature Page to First Amendment to Credit Agreement]
BRANCH BANKING AND TRUST COMPANY | ||||||||
By | /s/ Preston W. Bergen | |||||||
Name: | Preston W. Bergen | |||||||
Title: | Senior Vice President | |||||||
THE HUNTINGTON NATIONAL BANK | ||||||||
By | /s/ W. Christopher Kohler | |||||||
Name: | W. Christopher Kohler | |||||||
Title: | Vice President | |||||||
COMERICA BANK | ||||||||
By | /s/ Paul Edmonds | |||||||
Name: | Paul Edmonds | |||||||
Title: | Vice President | |||||||
COMPASS BANK | ||||||||
By | /s/ Ann Van Wagener | |||||||
Name: | Ann Van Wagener | |||||||
Title: | Vice President | |||||||
ROYAL BANK OF CANADA | ||||||||
By | /s/ Don J. McKinnerney | |||||||
Name: | Don J. McKinnerney | |||||||
Title: | Authorized Signatory |
[Signature Page to First Amendment to Credit Agreement]
AMEGY BANK NATIONAL ASSOCIATION | ||||||||
By | /s/ Reid Springmeyer | |||||||
Name: | Reid Springmeyer | |||||||
Title: | Assistant Vice President |
[Signature Page to First Amendment to Credit Agreement]
SCHEDULE 3.14
SUBSIDIARIES
percentage of | ||||||||||
total | ||||||||||
jurisdiction of | class of llc | membership | ||||||||
name of subsidiary | organization | name of owner | interest | interests | ||||||
WPP LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
WBRD LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
ACIN LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
HOD LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
SHEPARD BOONE COAL COMPANY LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
GATLING MINERAL, LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
INDEPENDENCE LAND COMPANY, LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
WILLIAMSON TRANSPORT, LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
LITTLE RIVER TRANSPORT, LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
RIVERVISTA MINING, LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % | |||||
DEEPWATER TRANSPORTATION, LLC | Delaware | NRP (Operating) LLC | Sole member | 100 | % |
Schedule 3.14 - Page 1