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Page 2 - Termination Date

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


 

 

Termination Date” means, with respect to a Lender, April 29, 2021 or such later date agreed to by such Lender from time to time in its sole discretion pursuant to Section 2.05(e); provided, however, the Termination Date shall not be a date later than the date of termination in whole of the Revolving Commitment pursuant to Section 2.05 or 6.01.”

 

2.02         Section 2.05(e) shall be amended (a) to delete the red stricken text (indicated textually in the same manner as the following example: stricken text, and (b) to add the blue double-underlined text (indicated textually in the same manner as the following example: double-underlined text), in each case as set forth in the marked copy of Section 2.05(e) attached hereto as Annex A hereto and made a part hereof for all purposes.

 

2.03         Section 2.05 shall be amended by adding the following clause (g) as its concluding clause.

 

“(g)          Notwithstanding notice periods and effective dates provided for in Section 2.05(e), at any time on or prior to the Existing Termination Date of a Declining Lender, the Borrower and such Declining Lender may agree in writing (and without further certification or documentation requirement other than as provided below) that such Declining Lender shall become a Revolving Lender with a Termination Date of the Consenting Lenders in respect of the applicable extension as to which such Declining Lender declined to agree; provided that the Borrower shall have provided written notice to the Agent of such agreement.”

 

2.04         Section 2.09(a)(i) shall be amended by restating it as follows:

 

“(i)           On the applicable Termination Date, the Borrower shall repay to the Agent for the ratable account of the applicable Revolving Lenders the aggregate principal amount of all Revolving Advances then outstanding, together with accrued interest thereon to the date of payment.”

 

2.05         The concluding paragraph of Section 8.07(a)(i) shall be amended by (a) replacing the text “or” immediately before subclause (d) thereof with the text “,” and (b) adding a new sub-clause (e) as follows:

 

“or (e) if the Lender is a Consenting Lender in respect of the most recent extension pursuant to Section 2.05(e), a Lender that was and remains a Declining Lender in respect of such extension.”

 

2.06         Form of Assignment and Acceptance. Exhibit  D - Form of Assignment and Acceptance shall be amended by (a) adding a new sentence at the end of the second paragraph thereof to read as follows: “[Effective as of the date hereof and pursuant to Section 2.05(g) of the Credit Agreement, the Assignee hereby agrees to become a Revolving Lender with a Termination Date of a Consenting Lender referred to in Section 2.05(g) of the Credit Agreement”], (b) adding a footnote at the end of such new sentence to read as follows: “To be inserted if (i) the Assignor was a Declining Lender and (ii) the Assignee has agreed to become a Consenting Lender pursuant to Section 2.05(g) of the Credit Agreement,” and (c) amending and restating the footnote in the signature block of the Borrower to read in its entirety as follows: “To be added only if (i) the consent of the Borrower is required by the terms of the Credit Agreement or (ii) the Assignor was a Declining Lender and has agreed to become a Consenting Lender pursuant to Section  2.05(g) of the Credit Agreement.”

 

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