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Page 1 - Exhibit 10.1

SPECTRA ENERGY PARTNERS, LP filed this Form 8-K on 9/7/2017


 

Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT AGREEMENT
AND EXTENSION AGREEMENT

 

AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT AGREEMENT AND EXTENSION AGREEMENT dated as of September 1, 2017 (this “Amendment”), among Spectra Energy Partners, LP, a Delaware limited partnership (the “Borrower”), each Lender (as defined below) party hereto (each, an “Extended Lender”), each Issuing Bank (as defined in the below described Credit Agreement) and Citibank, N.A., in its capacity as administrative agent for the Lenders (in such capacity, the “Agent”).

 

Reference is hereby made to the Amended and Restated Credit Agreement dated as of November 1, 2013 (as heretofore amended, restated, supplemented or otherwise modified, the “Credit Agreement,” and as amended by this Amendment, the “Amended Credit Agreement”), by and among the Borrower, the lenders from time to time party thereto (the “Lenders”) and the Agent.

 

The Borrower has requested that (a) the Credit Agreement be amended to, among other things, permit (i) the date of August 3, 2022 to be the initial extension date pursuant to Section 2.05(e) of the Amended Credit Agreement and (ii) subsequent extensions following the initial extension date pursuant to Section 2.05(e) to be for additional one-year periods thereafter, and (b) the Termination Date be extended to August 3, 2022 pursuant to Section 2.05(e) of the Amended Credit Agreement (the “Extension”), and, subject to the terms and conditions contained in this Amendment, the Extended Lenders have agreed to the amendments set forth herein and the Extension.

 

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

Section 1.            Definitions. Except as otherwise defined in this Amendment, terms defined in the Amended Credit Agreement are used herein as defined therein. The applicable interpretive provisions of the Amended Credit Agreement shall apply to this Amendment.

 

Section 2.            Amendments. Subject to the satisfaction of the conditions precedent specified in Section 5 of this Amendment, the Credit Agreement shall be amended as follows:

 

2.01        Section 1.01 of the Credit Agreement shall be amended by restating the following existing definitions contained therein as follows:

 

Revolving Lenders” means the Initial Lenders, each Incremental Term Lender that has become a Revolving Lender pursuant to Section 2.05(f), each Person that shall become party hereto pursuant to Amendment No. 2, and each other Person that shall become a party hereto pursuant to an Assignment and Acceptance or pursuant to an Accession Agreement with respect to all or any portion of a Revolving Commitment or Revolving Advance, other than (a) any such Person that ceases to be a party hereto pursuant to an Assignment and Acceptance or Amendment No. 2, or (b) any Lender that ceases to be a Lender after its applicable Existing Termination Date pursuant to Section 2.05(e); provided, that all claims, suits, causes of action and any other rights of such Lender referred to in the preceding clause (b) (in its capacity as a Lender), whether known or unknown, that arise under or in connection with the Credit Agreement on or prior to such Termination Date, shall not be terminated, diminished or novated in any respect with respect to such Lender.”