Loan No. RXO848
FIRST AMENDMENT TO
MASTER LOAN AGREEMENT
THIS FIRST AMENDMENT TO MASTER LOAN AGREEMENT (this “Aureement”) is entcred
into as of April 25, 2018, between PENNICHUCK EAST UTILITY INC. a New Hampshire corporation (the
*Company”), and CoBANK, ACB, a federally chartered instrumentality of the United States (“CoBank”).
BACKGROUND
CoBank and the Company are parties to a Master Loan Agreement dated as of February 9, 2010 (the
NOW, THEREFORE, for valuabie consideration, the reccipt and sufficiency of which are hereby
acknowledged, the Company and CoBank agree as follows:
SECTION 1, Definitions. Capitalized terms used hercin and not defined herein shall have the
Incanings given to those terms in the Master Loan Agreement.
SECTION 2. Amendment to Debt Service Coverage Ratio, The first sentence of Section 7.01 of
the Master Loan Agrecment is hereby armended and cestated to read as follows:
The Company shall have for each fiscal year of the Company, a Dcbt
Service Covcraye Ratio of not less than 1.10 to 1.00.
SECTION 3. Representations and Warranties. To induce CoBank to enter into this Amendment,
the Company represents and warrants that: (A) no consent, permission, authorization. order or license of any
governmental authority or of any party to any agreement to which the Campany is a party or by which it or any
af its property may be bound or affected, is necessary in connection with the cxcculion, delivery, performance
or enforcement of this Amendment; (B) the Company is in compliance with ali of the icrms of the Joan
Documents, and no Default or Event of Default exists; and (C) this Amendment has been duly authorized,
executed and delivered by the Company, and creates legal, valid, and binding obligations of the Company
which are enforceable in accordance with their terms, except to the exicnt that enforceability may be limited hy
applicable bankruptcy, insolvency or siinilar Laws alfecting the rights of creditors generally.
SECTION 4. Confirmation. Except as amended hereby, the Master Loan Agreement shall remain
in full force and effect as written.
SECTION 5. Counterparts and Electronic Delivery. This Amendment may be executed in
counterparts (and by differcnt partics in different counterparts), each of which shall constitute an original, and
all of which when taken together shall constitute a single agreement. In addition, this Amendment may be
delivered by electronic means.
(Signature Page(s) Follow)
ABI263 14 |
