EX-10.5 11 bhe63016ex105.htm SECOND AMENDING AGREEMENT TO AMENDED AND RESTATED CREDIT AGREEMENT Exhibit
EXHIBIT 10.5
EXECUTION VERSION

SECOND AMENDING AGREEMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT

dated as of December 14, 2015

ALTALINK INVESTMENT MANAGEMENT LTD.,
in its capacity as general partner of

ALTALINK INVESTMENTS, L.P.,
as Borrower,
- and -
ALTALINK INVESTMENT MANAGEMENT LTD.,
as General Partner,
- and -
ROYAL BANK OF CANADA,
as Administrative Agent of the Lenders, and as Lender,
- and -
THE LENDERS PARTY HERETO,
as Lenders



LEGAL_1:37171449.3
 



SECOND AMENDING AGREEMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 14, 2015, among AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P., as Borrower, AltaLink Investment Management Ltd., as General Partner, Royal Bank of Canada, as Agent of the Lenders (the “Agent”), and the Lenders party hereto.
RECITALS
WHEREAS AltaLink Investment Management Ltd., in its capacity as general partner of AltaLink Investments, L.P., as Borrower, Royal Bank of Canada, as Agent of the Lenders, and the Lenders are parties to an Amended and Restated Credit Agreement made as of July 30, 2015 as amended by a first amending agreement dated as of November 20, 2015 (collectively, the “Original Credit Agreement”);
AND WHEREAS the Borrower, the General Partner, the Lenders and the Agent have agreed to amend certain provisions of the Original Credit Agreement in the manner and on the terms and conditions provided for herein.
NOW THEREFORE for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
1.1
Definitions
All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Original Credit Agreement.
ARTICLE 2
AMENDMENT
2.1
Amendment to Definition of Maturity Date. The definition of “Maturity Date” in the Original Credit Agreement is hereby amended by replacing the date “December 14, 2019” with the date “December 14, 2020” in such definition.
ARTICLE 3
CONDITIONS PRECEDENT
3.1    Conditions Precedent
This Second Amending Agreement shall become effective when:
(a)
the Agent shall have received an executed copy of this Second Amending Agreement from each of the Agent, the Lenders, the Borrower and the General Partner;
(b)
the Agent has received an extension fee from the Borrower, which fee shall be in the amount of 5 bps calculated on the Commitment of each Lender party to this Second Amending Agreement, and payable to each such Lender; and

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(c)
no Event of Default shall have occurred and be continuing.
The conditions set forth above are inserted for the sole benefit of the Lenders and may be waived by the Lenders in whole or in part, with or without terms or conditions.
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
4.1
Representations and Warranties True and Correct; No Default or Event of Default
The Borrower and General Partner each hereby represents and warrants to the Agent and the Lenders that after giving effect to this Second Amending Agreement, (i) each of the representations and warranties of the Borrower and the General Partner, as the case may be, contained in the Original Credit Agreement and each of the other Loan Documents is true and correct on, and as of the date hereof as if made on such date (except to the extent that such representation or warranty expressly relates to an earlier date and except for changes therein expressly permitted or expressly contemplated by the Original Credit Agreement), and (ii) no event has occurred and is continuing which constitutes or would constitute a Default or an Event of Default.
ARTICLE 5
MISCELLANEOUS
5.1
No Other Amendments, Waivers or Consents
Except as expressly set forth herein, the Original Credit Agreement and all Loan Documents shall be unmodified and shall continue to be in full force and effect in accordance with their terms.
5.2
Time
Time is of the essence in the performance of the parties’ respective obligations in this Second Amending Agreement.
5.3
Governing Law
This Second Amending Agreement is a contract made under, and shall be governed by and construed in accordance with, the laws of the Province of Alberta and the federal laws of Canada applicable therein.
5.4
Successors and Assigns
This Second Amending Agreement shall enure to the benefit of, and be binding upon, the parties hereto and their respective successors and any assigns, transferees and endorsees of the Agent or any Lender. Nothing in this Second Amending Agreement, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under the Original Credit Agreement, as amended by this Second Amending Agreement.


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5.5
Counterparts
This Second Amending Agreement may be executed by the parties hereto in counterparts and may be delivered by facsimile or other electronic means (including via electronic mail in portable document format) and all such counterparts shall together constitute one and the same agreement.
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The parties hereto have duly executed this Second Amending Agreement as of the date set forth on the first page of this Agreement.

 
 
ALTALINK INVESTMENT MANAGEMENT LTD.,
in its capacity as General Partner of ALTALINK INVESTMENTS, L.P.


By:
/s/ Jeffrey A. Austin
 
Name: Jeffrey A. Austin
 
Title: Director
By:
/s/ Calvin Haack
 
Name: Calvin D. Haack
 
Title: Director



AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement



 
 
ALTALINK INVESTMENT MANAGEMENT LTD.


By:
/s/ Jeffrey A. Austin
 
Name: Jeffrey A. Austin
 
Title: Director
By:
/s/ Calvin Haack
 
Name: Calvin D. Haack
 
Title: Director



AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement



 
 
ROYAL BANK OF CANADA,
as Agent


By:
/s/ Yvonne Brazier
 
Name: Yvonne Brazier
 
Title: Managing Agency



AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement



 
 
ROYAL BANK OF CANADA,
as Lender


By:
/s/ Timothy Murray
 
Name: Timothy P. Murray
 
Title: Authorized Signatory




AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement



 
 
BANK OF MONTREAL,
as Lender


By:
/s/ Carol McDonald
 
Name: Carol McDonald
 
Title: Director
 
 
 
 
 
 
By:
/s/ Darren Thomas
 
 
 
Name: Darren Thomas
 
 
 
Title: Associate




AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement



 
 
ALBERTA TREASURY BRANCHES,
as Lender


By:
/s/ Tim Poole
 
Name: Tim Poole
 
Title: Senior Director
 
 
 
 
 
 
By:
/s/ Trevor Guinard
 
 
 
Name: Trevor Guinard
 
 
 
Title: Senior Associate Director



AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement



 
 
BANK OF NOVA SCOTIA,
as Lender


By:
/s/ Bradley Walker
 
Name: Bradley Walker
 
Title: Director
 
 
 
 
 
 
By:
/s/ Matthew Hartnoll
 
 
 
Name: Matthew Hartnoll
 
 
 
Title: Associate Director



AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement



 
 
NATIONAL BANK OF CANADA,
as Lender


By:
/s/ Mark Williamson
 
Name: Mark Williamson
 
Title: Authorized Signatory
 
 
 
 
 
 
By:
/s/ Elin Wade
 
 
 
Name: Elin Wade
 
 
 
Title: Authorized Signatory


AltaLink – Second Amending Agreement to Amended and Restated Credit Agreement