Second Supplemental Indenture, dated as of December 27, 2019, by and among NGL Energy Partners LP, NGL Energy Finance corp., the Guaranteeing Subsidiaries party thereto, the Guararantors party thereto and U.S. Bank National Association, as Trustee

Contract Categories: Business Finance - Indenture Agreements
EX-4.29 96 a2240338zex-4_29.htm EX-4.29

Exhibit 4.29

 

Execution Version

 

SECOND SUPPLEMENTAL INDENTURE

 

SECOND SUPPLEMENTAL INDENTURE, dated as of December 27, 2019 (this “Supplemental Indenture”), among NGL Energy Partners LP, a Delaware limited partnership (the “Company”), NGL Energy Finance Corp., a Delaware corporation (“Finance Corp.,” and, together with the Company, the “Issuers”), each of the Persons listed on Exhibit A to this Supplemental Indenture (each a “Guaranteeing Subsidiary” and collectively, the “Guaranteeing Subsidiaries”), the other Guarantors (as defined in the Indenture referred to below), and U.S. Bank National Association, as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Issuers and certain Subsidiaries of the Company have heretofore executed and delivered to the Trustee an indenture, dated as of April 9, 2019 (the “Indenture”), providing for the issuance by the Issuers of 6.125% Senior Notes due 2026 (the “Notes”);

 

WHEREAS, the Issuers and certain Subsidiaries of the Company have heretofore executed and delivered to the Trustee the First Supplemental Indenture, dated as of October 31, 2019 (the “First Supplemental Indenture”), pursuant to which certain Subsidiaries of the Company became Guarantors;

 

WHEREAS, the Original Indenture as amended and supplemented by the First Supplemental Indenture is referred to herein as the “Indenture”;

 

WHEREAS, the Indenture provides that under certain circumstances, each Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which such Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuers’ Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and

 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, each Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.                                      CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

2.                                      AGREEMENT TO GUARANTEE.  Each Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 10 thereof.

 

3.                                      EXECUTION AND DELIVERY.  Each Guaranteeing Subsidiary agrees that the Note Guarantees shall remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Note Guarantee.

 


 

4.                                      NO RECOURSE AGAINST OTHERS.  No past, present or future director, officer, partner, employee, incorporator, organizer, manager, unitholder or other owner of Capital Stock (as defined in the Indenture) of a Guaranteeing Subsidiary or agent thereof, as such, shall have any liability for any obligations of the Issuers, the Guarantors, or such Guaranteeing Subsidiary or any other Subsidiary of an Issuer providing a Note Guarantee under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of the Notes by accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Notes.  Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy.

 

5.                                      NEW YORK LAW TO GOVERN.  THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.

 

6.                                      COUNTERPARTS.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of signed copies of this Supplemental Indenture by facsimile transmission or emailed portable document format (pdf) shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and such copies may be used in lieu of the original Supplemental Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or portable document format (pdf) shall be deemed to be their original signatures for all purposes other than authentication of Notes by the Trustee.

 

7.                                      EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not affect the construction hereof.

 

8.                                      THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by each Guaranteeing Subsidiary and the Issuers.

 

(Signature Pages Follow)

 

2


 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

 

GUARANTEEING SUBSIDIARIES:

 

 

 

AWR DISPOSAL, LLC

 

DACO PERMIAN 76, LLC

 

GGCOF HEP BLOCKER II, LLC

 

GGCOF HEP BLOCKER, LLC

 

HEP INTERMEDIATE HOLDCO SUB, LLC

 

HEP INTERMEDIATE HOLDCO, LLC

 

HEP OPERATIONS HOLDINGS, LLC

 

HEP OPERATIONS, LLC

 

HEP SHALEWATER SOLUTIONS, LLC

 

HILLSTONE DACO 76, LLC

 

HILLSTONE DACO PERMIAN, LLC

 

HILLSTONE ENVIRONMENTAL PARTNERS, LLC

 

HILLSTONE PERMIAN ADAMS, LLC

 

HILLSTONE PERMIAN ARTHUR, LLC

 

HILLSTONE PERMIAN CLEVELAND, LLC

 

HILLSTONE PERMIAN FORTRESS, LLC

 

HILLSTONE PERMIAN GARFIELD, LLC

 

HILLSTONE PERMIAN HAMILTON, LLC

 

HILLSTONE PERMIAN HARRISON, LLC

 

HILLSTONE PERMIAN HAYES, LLC,

 

HILLSTONE PERMIAN KNOX, LLC

 

HILLSTONE PERMIAN MADISON, LLC

 

HILLSTONE PERMIAN MCKINLEY, LLC

 

HILLSTONE PERMIAN MONROE, LLC

 

HILLSTONE PERMIAN PIPELINE LOVING BR, LLC

 

HILLSTONE PERMIAN PIPELINE, LLC

 

HILLSTONE PERMIAN POKER LAKE, LLC

 

HILLSTONE PERMIAN RATTLESNAKE, LLC

 

HILLSTONE PERMIAN REAGAN, LLC

 

HILLSTONE PERMIAN ROOSEVELT, LLC

 

HILLSTONE PERMIAN SHULTZ, LLC

 

HILLSTONE PERMIAN ST. LUCIA, LLC

 

HILLSTONE PERMIAN TAFT, LLC

 

HILLSTONE PERMIAN WILSON, LLC

 

LOVING FORTRESS, LLC

 

RED ROCK MIDSTREAM, LLC

 

SAND LAKE MIDSTREAM, LLC

 

 

 

 

 

 

 

By:

/s/ Robert W. Karlovich III

 

 

Name: Robert W. Karlovich III

 

 

Title: Executive Vice President and Chief Financial Officer

 

(Signature Page to Second Supplemental Indenture)

 


 

 

ISSUERS:

 

 

 

NGL ENERGY PARTNERS LP

 

 

 

 

By:

NGL Energy Holdings, LLC,

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Robert W. Karlovich III

 

 

Name: Robert W. Karlovich III

 

 

Title: Executive Vice President and Chief Financial Officer

 

 

 

 

 

 

NGL ENERGY FINANCE CORP.

 

 

 

 

 

 

 

By:

/s/ Robert W. Karlovich III

 

 

Name: Robert W. Karlovich III

 

 

Title: Executive Vice President and Chief Financial Officer

 

(Signature Page to Second Supplemental Indenture)

 


 

 

EXISTING GUARANTORS:

 

 

 

ANTICLINE DISPOSAL, LLC

 

CENTENNIAL ENERGY, LLC

 

CENTENNIAL GAS LIQUIDS ULC

 

CHOYA OPERATING, LLC

 

GRAND MESA PIPELINE, LLC

 

NGL CRUDE CUSHING, LLC

 

NGL CRUDE LOGISTICS, LLC

 

NGL CRUDE TERMINALS, LLC

 

NGL CRUDE TRANSPORTATION, LLC

 

NGL DELAWARE BASIN HOLDINGS, LLC

 

NGL ENERGY EQUIPMENT LLC

 

NGL ENERGY HOLDINGS II, LLC

 

NGL ENERGY LOGISTICS, LLC

 

NGL ENERGY OPERATING LLC

 

NGL LIQUIDS, LLC

 

NGL MARINE, LLC

 

NGL MILAN INVESTMENTS, LLC

 

NGL ENERGY OPERATING LLC

 

NGL SOUTH RANCH, INC.

 

NGL SUPPLY TERMINAL COMPANY, LLC

 

NGL SUPPLY WHOLESALE, LLC

 

NGL WATER PIPELINES, LLC

 

NGL WATER SOLUTIONS - ORLA SWD, LLC

 

NGL WATER SOLUTIONS DJ, LLC

 

NGL WATER SOLUTIONS EAGLE FORD, LLC

 

NGL WATER SOLUTIONS PERMIAN, LLC

 

NGL WATER SOLUTIONS, LLC

 

TRANSMONTAIGNE LLC

 

TRANSMONTAIGNE SERVICES LLC

 

 

 

 

 

 

 

By:

/s/ Robert W. Karlovich III

 

 

Name: Robert W. Karlovich III

 

 

Title: Executive Vice President and Chief Financial Officer

 

(Signature Page to Second Supplemental Indenture)

 


 

 

TRUSTEE:

 

 

 

U.S. BANK NATIONAL ASSOCIATION, as Trustee

 

 

 

 

 

 

 

By:

/s/ Brian T. Jensen

 

 

Name: Brian T. Jensen

 

 

Title: Vice President

 

(Signature Page to Second Supplemental Indenture)

 


 

Exhibit A

 

Guaranteeing Subsidiaries

 

Name

 

Jurisdiction and Form of Organization

AWR Disposal, LLC

 

Delaware limited liability company

Daco Permian 76, LLC

 

Texas limited liability company

GGCOF HEP Blocker II, LLC

 

Delaware limited liability company

GGCOF HEP Blocker, LLC

 

Delaware limited liability company

HEP Intermediate Holdco Sub, LLC

 

Delaware limited liability company

HEP Intermediate Holdco, LLC

 

Delaware limited liability company

HEP Operations Holdings, LLC

 

Delaware limited liability company

HEP Operations, LLC

 

Delaware limited liability company

HEP Shalewater Solutions, LLC

 

Delaware limited liability company

Hillstone Daco 76, LLC

 

Delaware limited liability company

Hillstone Daco Permian, LLC

 

Delaware limited liability company

Hillstone Environmental Partners, LLC

 

Delaware limited liability company

Hillstone Permian Adams, LLC

 

Delaware limited liability company

Hillstone Permian Arthur, LLC

 

Delaware limited liability company

Hillstone Permian Cleveland, LLC

 

Delaware limited liability company

Hillstone Permian Fortress, LLC

 

Texas limited liability company

Hillstone Permian Garfield, LLC

 

Delaware limited liability company

Hillstone Permian Hamilton, LLC

 

Delaware limited liability company

Hillstone Permian Harrison, LLC

 

Delaware limited liability company

Hillstone Permian Hayes, LLC,

 

Delaware limited liability company

Hillstone Permian Knox, LLC

 

Delaware limited liability company

Hillstone Permian Madison, LLC

 

Delaware limited liability company

Hillstone Permian McKinley, LLC

 

Delaware limited liability company

Hillstone Permian Monroe, LLC

 

Delaware limited liability company

Hillstone Permian Pipeline Loving BR, LLC

 

Delaware limited liability company

Hillstone Permian Pipeline, LLC

 

Delaware limited liability company

Hillstone Permian Poker Lake, LLC

 

Delaware limited liability company

Hillstone Permian Rattlesnake, LLC

 

Delaware limited liability company

Hillstone Permian Reagan, LLC

 

Delaware limited liability company

Hillstone Permian Roosevelt, LLC

 

Delaware limited liability company

Hillstone Permian Shultz, LLC

 

Delaware limited liability company

Hillstone Permian St. Lucia, LLC

 

Delaware limited liability company

Hillstone Permian Taft, LLC

 

Delaware limited liability company

Hillstone Permian Wilson, LLC

 

Delaware limited liability company

Loving Fortress, LLC

 

Texas limited liability company

Red Rock Midstream, LLC

 

Delaware limited liability company

Sand Lake Midstream, LLC

 

Delaware limited liability company

 

Exhibit A - Page 1