SECOND AMENDMENT TO SIXTH AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF DECEMBER 13, 2013 AMONG LINN ENERGY, LLC, AS BORROWER, THE GUARANTORS, WELLS FARGO BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT, AND THE LENDERS PARTY HERETO ______________________________________________________________________________ JOINT BOOK RUNNERS AND JOINT LEAD ARRANGERS
EX-10.29 5 exhibit1029secondamendment.htm SECOND AMENDMENT TO SIXTH AMENDED CREDIT AGREEMENT Exhibit 10.29 Second Amendment
EXHIBIT 10.29
EXECUTION VERSION
SECOND AMENDMENT
TO
SIXTH AMENDED AND RESTATED CREDIT AGREEMENT
DATED AS OF DECEMBER 13, 2013
AMONG
LINN ENERGY, LLC,
AS BORROWER,
AS BORROWER,
THE GUARANTORS,
WELLS FARGO BANK, NATIONAL ASSOCIATION,
AS ADMINISTRATIVE AGENT,
AS ADMINISTRATIVE AGENT,
AND
THE LENDERS PARTY HERETO
______________________________________________________________________________
JOINT BOOK RUNNERS AND JOINT LEAD ARRANGERS
WELLS FARGO SECURITIES, LLC RBC CAPITAL MARKETS
SECOND AMENDMENT TO SIXTH AMENDED AND RESTATED CREDIT AGREEMENT
THIS SECOND AMENDMENT TO SIXTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Second Amendment”) dated as of December 13, 2013, among LINN ENERGY, LLC, a Delaware limited liability company, (the “Borrower”); the Guarantors signatory hereto, each of the Lenders party to the Credit Agreement referred to below that are signatory hereto; and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”).
R E C I T A L S
A. The Borrower, the Administrative Agent, the Lenders and the other Agents party thereto entered into that certain Sixth Amended and Restated Credit Agreement dated as of April 24, 2013 as amended by that certain First Amendment dated as of October 30, 2013 (the “Credit Agreement”), pursuant to which the Lenders have made certain credit and other financial accommodations available to and on behalf of the Borrower and its Subsidiaries.
B. The Borrower has requested and the Administrative Agent and the Majority Lenders have agreed to amend certain provisions of the Credit Agreement.
C. NOW, THEREFORE, to induce the Administrative Agent and Lenders constituting the Majority Lenders to enter into this Second Amendment and in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Section 1.Defined Terms. Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement, as amended by this Second Amendment. Unless otherwise indicated, all section or article references in this Second Amendment refer to sections or articles of the Credit Agreement.
Section 2. Amendments to Credit Agreement.
2.1 Amendment to Section 1.02. Section 1.02 is hereby amended by:
(a) deleting the following defined term in its entirety and replacing it with the following:
“‘Agreement’ means this Credit Agreement, as amended by the First Amendment and the Second Amendment, as the same may from time to time be further amended, modified, supplemented or restated.”
(b) adding the following defined term in its appropriate alphabetical order:
“‘Second Amendment’ means the Second Amendment to Credit Agreement dated as of December 13, 2013 among the Borrower, the Administrative Agent and the Majority Lenders.”
2.2 Amendment to Section 8.19(a). Section 8.19(a) is hereby amended by deleting the term “$700,000,000” in such Section and replacing it with “$1,200,000,000”.
Section 3. Conditions Precedent. This Second Amendment shall become effective on the date (such date, the “Second Amendment Effective Date”), when each of the following conditions is satisfied (or waived in accordance with Section 12.02 of the Credit Agreement):
3.1 The Administrative Agent shall have received from the Lenders constituting the Majority Lenders and the Borrower, counterparts (in such number as may be requested by the Administrative Agent) of this Second Amendment signed on behalf of such Person.
3.2 No Default shall have occurred and be continuing as of the date hereof, after giving effect to the terms of this Second Amendment.
The Administrative Agent is hereby authorized and directed to declare this Second Amendment to be effective when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 3 or the waiver of such conditions as permitted in Section 12.02 of the Credit Agreement. Such declaration shall be final, conclusive and binding upon all parties to the Agreement for all purposes.
Section 4. Miscellaneous.
4.1 Confirmation. The provisions of the Credit Agreement, as amended by this Second Amendment, shall remain in full force and effect following the effectiveness of this Second Amendment.
4.2 Ratification and Affirmation; Representations and Warranties. Each of the Borrower and the Guarantors hereby (a) acknowledges the terms of this Second Amendment; (b) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect as expressly amended hereby and (c) represents and warrants to the Lenders that as of the date hereof, after giving effect to the terms of this Second Amendment:
(i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except those which have a materiality qualifier, which shall be true and correct as so qualified), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date,
(ii) no Default or Event of Default has occurred and is continuing, and
(iii) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.
4.3 Loan Document. This Second Amendment is a Loan Document.
4.4 Counterparts. This Second Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Second Amendment
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by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.
4.5 NO ORAL AGREEMENT. THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.
4.6 GOVERNING LAW. THIS SECOND AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.
4.7 Payment of Expenses. In accordance with Section 12.03 of the Credit Agreement, the Borrower agrees to pay or reimburse the Administrative Agent for all of its reasonable out-of- pocket costs and reasonable expenses incurred in connection with this Second Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent.
4.8 Severability. Any provision of this Second Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
4.9 Successors and Assigns. This Second Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
[SIGNATURES BEGIN NEXT PAGE]
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IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed as of the date first written above.
BORROWER: | LINN ENERGY, LLC | |
By: | /s/ Kolja Rockov | |
Name: | Kolja Rockov | |
Title: | Executive Vice President and Chief Financial Officer |
Signature Page to Second Amendment
15110679
GUARANTORS: | LINN ENERGY HOLDINGS, LLC | |
LINN OPERATING, INC. | ||
MID-CONTINENT HOLDINGS I, LLC | ||
MID-CONTINENT HOLDINGS II, LLC | ||
MID-CONTINENT I, LLC | ||
MID-CONTINENT II, LLC | ||
LINN GAS MARKETING, LLC | ||
LINN EXPLORATION & PRODUCTION MICHIGAN LLC | ||
LINN MIDWEST ENERGY LLC | ||
By: | /s/ Kolja Rockov | |
Kolja Rockov | ||
Executive Vice President and Chief Financial Officer | ||
LINN EXPLORATION MIDCONTINENT, LLC | ||
By: Mid-Continent Holdings II, LLC, its sole member, as Member/Manager | ||
By: | /s/ Kolja Rockov | |
Name: | Kolja Rockov | |
Title: | Executive Vice President and Chief Financial Officer |
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LENDERS: | WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and a Lender | |
By: | /s/ Patrick J. Fults | |
Name: | Patrick J. Fults | |
Title: | Vice President |
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ROYAL BANK OF CANADA | ||
By: | /s/ Don J. McKinnerney | |
Name: | Don J. McKinnerney | |
Title: | Authorized Signatory |
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BARCLAYS BANK PLC | ||
By: | /s/ Vanessa A. Kurbatskiy | |
Name: | Vanessa A. Kurbatskiy | |
Title: | Vice President |
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CITIBANK, N.A. | ||
By: | /s/ Eamon Baqui | |
Name: | Eamon Baqui | |
Title: | Vice President |
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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK | ||
By: | /s/ Mark A. Roche | |
Name: | Mark A. Roche | |
Title: | Managing Director | |
By: | /s/ Michael D. Willis | |
Name: | Michael D. Willis | |
Title: | Managing Director |
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CREDIT SUISSE AG, CAYMAN ISLAND BRANCH | ||
By: | /s/ Vipul Dhadda | |
Name: | Vipul Dhadda | |
Title: | Authorized Signatory | |
By: | /s/ Michael Spaight | |
Name: | Michael Spaight | |
Title: | Authorized Signatory |
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THE ROYAL BANK OF SCOTLAND PLC | ||
By: | /s/ Sanjay Remond | |
Name: | Sanjay Remond | |
Title: | Authorised Signatory |
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THE BANK OF NOVA SCOTIA | ||
By: | /s/ Terry Donovan | |
Name: | Terry Donovan | |
Title: | Managing Director |
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BANK OF MONTREAL | ||
By: | /s/ James V. Ducote | |
Name: | James V. Ducote | |
Title: | Managing Director |
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CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK AGENCY | ||
By: | /s/ Daria Mahoney | |
Name: | Daria Mahoney | |
Title: | Executive Director | |
By: | /s/ Trudy Nelson | |
Name: | Trudy Nelson | |
Title: | Managing Directory |
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UBS AG, STAMFORD BRANCH | ||
By: | /s/ Lana Gifas | |
Name: | Lana Gifas | |
Title: | Director | |
By: | /s/ Jennifer Anderson | |
Name: | Jennifer Anderson | |
Title: | Associate Director |
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COMERICA BANK | ||
By: | /s/ William B. Robinson | |
Name: | William B. Robinson | |
Title: | Vice President |
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ING CAPITAL LLC | ||
By: | /s/ Juli Bieser | |
Name: | Juli Bieser | |
Title: | Director |
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SOCIETE GENERALE | ||
By: | /s/ David Bornstein | |
Name: | David Bornstein | |
Title: | Director |
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U.S. BANK NATIONAL ASSOCIATION | ||
By: | /s/ Jonathan H. Lee | |
Name: | Jonathan H. Lee | |
Title: | Vice President |
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ABN AMRO CAPITAL USA LLC | ||
By: | /s/ Elizabeth Johnson | |
Name: | Elizabeth Johnson | |
Title: | Vice President | |
By: | /s/ Darrell Holley | |
Name: | Darrell Holley | |
Title: | Managing Director |
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COMPASS BANK | ||
By: | /s/ Kathleen J. Bowen | |
Name: | Kathleen J. Bowen | |
Title: | Senior Vice President |
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DNB CAPITAL LLC | ||
By: | /s/ Joe Hykle | |
Name: | Joe Hykle | |
Title: | FVP | |
By: | /s/ Kelton G. Glasscock | |
Name: | Kelton G. Glasscock | |
Title: | SVP & Head of Energy Americas |
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UNION BANK, N.A. | ||
By: | /s/ Rachel Bowman | |
Name: | Rachel Bowman | |
Title: | Vice President |
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CAPITAL ONE, N.A. | ||
By: | /s/ Matthew L. Molero | |
Name: | Matthew L. Molero | |
Title: | Vice President |
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SUNTRUST BANK | ||
By: | /s/ Chulley Bogle | |
Name: | Chulley Bogle | |
Title: | Vice President |
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BANK OF AMERICA, N.A. | ||
By: | /s/ Joseph Scott | |
Name: | Joseph Scott | |
Title: | Director |
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JPMORGAN CHASE BANK, N.A. | ||
By: | /s/ Michael A. Kamauf | |
Name: | Michael A. Kamauf | |
Title: | Authorized Officer |
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DEUTSCHE BANK TRUST COMPANY AMERICAS | ||
By: | /s/ Michael Getz | |
Name: | Michael Getz | |
Title: | Vice President | |
By: | /s/ Lisa Wong | |
Name: | Lisa Wong | |
Title: | Vice President |
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GOLDMAN SACHS BANK USA | ||
By: | /s/ Mark Walton | |
Name: | Mark Walton | |
Title: | Authorized Signatory |
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MACQUARIE BANK LIMITED | ||
By: | /s/ Michael Orefice | |
Name: | Michael Orefice | |
Title: | Managing Director | |
By: | /s/ Andrew Mitchell | |
Name: | Andrew Mitchell | |
Title: | Associated Director | |
(Signed in London, POA Ref: #938 dated 22nd of November 2012) |
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MORGAN STANLEY BANK, N.A. | ||
By: | /s/ Matthew Meyers | |
Name: | Matthew Meyers | |
Title: | Authorized Signatory |
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BP ENERGY COMPANY | ||
By: | /s/ Ryan S. McGeachie | |
Name: | Ryan S. McGeachie | |
Title: | Managing Director US Consumers |
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BNP PARIBAS | ||
By: | /s/ Sriram CHANDRASEKARAN | |
Name: | Sriram CHANDRASEKARAN | |
Title: | Vice President | |
By: | /s/ Julien PECOUD-BOUVET | |
Name: | Julien PECOUD-BOUVET | |
Title: | Associate |
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BRANCH BANKING AND TRUST COMPANY | ||
By: | /s/ Traci Bankston | |
Name: | Traci Bankston | |
Title: | Assistant Vice President |
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SUMITOMO MITSUI BANKING CORPORATION | ||
By: | /s/ James D. Weinstein | |
Name: | James D. Weinstein | |
Title: | Managing Director |
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WHITNEY BANK | ||
By: | /s/ Liana Tchernysheva | |
Name: | Liana Tchernysheva | |
Title: | Senior Vice President |
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AMEGY BANK NATIONAL ASSOCIATION | ||
By: | /s/ H. Brock Hudson | |
Name: | H. Brock Hudson | |
Title: | Senior Vice President |
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ASSOCIATED BANK, N.A. | ||
By: | /s/ Farhan Iqbal | |
Name: | Farhan Iqbal | |
Title: | Senior Vice President |
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KEYBANK NATIONAL ASSOCIATION | ||
By: | /s/ Paul J. Pace | |
Name: | Paul J. Pace | |
Title: | Senior Vice President |
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THE HUNTINGTON NATIONAL BANK | ||
By: | /s/ Margaret Niekrash | |
Name: | Margaret Niekrash | |
Title: | VP |
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FIFTH THIRD BANK | ||
By: | /s/ Justin Crawford | |
Name: | Justin Crawford | |
Title: | Director |
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NATIXIS | ||
By: | /s/ Louis P. Laville, III | |
Name: | Louis P. Laville, III | |
Title: | Managing Director | |
By: | /s/ Stuart Murray | |
Name: | Stuart Murray | |
Title: | Managing Director |
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TORONTO DOMINION (NEW YORK) LLC | ||
By: | /s/ MASOOD FIKREE | |
Name: | MASOOD FIKREE | |
Title: | AUTHORIZED SIGNATORY |
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MIZUHO BANK, LTD. | ||
By: | /s/ Leon Mo | |
Name: | Leon Mo | |
Title: | Authorized Signatory |
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CARGILL INCORPORATED | ||
By: | /s/ J. Dieleman | |
Name: | J. Dieleman | |
Title: | BU Leader 11.12.13 |
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