Attached files

file filename
EX-24.1 - EX-24.1 - ARCH RESOURCES, INC.arch-20201231ex2412cb434.htm
EX-95 - EX-95 - ARCH RESOURCES, INC.arch-20201231xex95.htm
EX-32.2 - EX-32.2 - ARCH RESOURCES, INC.arch-20201231ex322c9f583.htm
EX-32.1 - EX-32.1 - ARCH RESOURCES, INC.arch-20201231ex32121bc0e.htm
EX-31.2 - EX-31.2 - ARCH RESOURCES, INC.arch-20201231ex31235b2f3.htm
EX-31.1 - EX-31.1 - ARCH RESOURCES, INC.arch-20201231ex311694c3d.htm
EX-23.2 - EX-23.2 - ARCH RESOURCES, INC.arch-20201231ex232817450.htm
EX-23.1 - EX-23.1 - ARCH RESOURCES, INC.arch-20201231ex2311cc971.htm
EX-21.1 - EX-21.1 - ARCH RESOURCES, INC.arch-20201231ex211b01ddc.htm
EX-10.19 - EX-10.19 - ARCH RESOURCES, INC.arch-20201231ex1019c4544.htm
EX-10.18 - EX-10.18 - ARCH RESOURCES, INC.arch-20201231ex1018672fc.htm
EX-10.16 - EX-10.16 - ARCH RESOURCES, INC.arch-20201231ex1016f6652.htm
10-K - 10-K - ARCH RESOURCES, INC.arch-20201231x10k.htm

Exhibit 10.17

FOURTH AMENDMENT TO

SECOND AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT

THIS FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT (this “Amendment”), dated as of December 13, 2019, is entered into among each of the parties listed on the signature pages hereto as a Continuing Originator (each a “Continuing Originator”; and collectively, the “Continuing Originators”), Coal-Mac LLC (the “Released Originator”), and ARCH COAL, INC. (the “Company”).

RECITALS

1.The Company, the Continuing Originators and the Released Originator are parties to the Second Amended and Restated Purchase and Sale Agreement, dated as of October 5, 2016 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Agreement”).
2.The Company has requested the removal of the Released Originator from the Agreement.
3.In connection with this Amendment, the Released Originator is being removed from the Agreement as parties thereto in the capacity of an “Originator”.
4.The parties hereto desire to amend the Agreement as hereinafter set forth.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

SECTION 1.Certain Defined Terms.  Capitalized terms that are used but not defined herein shall have the meanings set forth in the Agreement.
SECTION 2.Amendments to the Agreement.  The Agreement is hereby amended as follows:
2.1Schedule I to the Agreement is hereby replaced in its entirety with Schedule I attached hereto.
2.2Schedule II to the Agreement is hereby replaced in its entirety with Schedule II attached hereto.
2.3Schedule IV to the Agreement is hereby replaced in its entirety with Schedule IV attached hereto.
2.4Schedule V to the Agreement is hereby replaced in its entirety with Schedule V attached hereto.
SECTION 3.Release of Released Originator.  The parties hereto hereby agree that upon the effectiveness of this Amendment, (i) the Released Originator shall no longer (a) be party to the Agreement or any other Transaction Document (including, for the avoidance of doubt, the

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Originator Performance Guaranty) and shall no longer have any obligations or rights thereunder and (b) sell any Receivables or Related Rights to the Company under the Agreement and (ii) none of the Company, the Continuing Originators, the Administrator, the Purchaser Agents or LC Bank will have any obligations or rights with respect to the Released Originator under the Agreement or any other Transaction Document (including, for the avoidance of doubt the Originator Performance Guaranty); provided, however, that nothing in this Section 3 shall (x) affect the delegation and assumption of duties, obligations and liabilities pursuant to Section 4 hereof or (y) otherwise derogate from any of the Released Originator’s agreements made pursuant to this Amendment .
SECTION 4.Delegation and Assumption of Released Originator’s Obligations.  Effective immediately prior to the removal of the Released Originator as a party to the Agreement and each of the other Transaction Documents pursuant to Section 3 above, the Released Originator hereby delegates to each of the Continuing Originators, and each of the Continuing Originators, jointly and severally, hereby assumes, all of the Released Originator’s duties, obligations and liabilities that have arisen or accrued prior to the date hereof under the Agreement and each of the other Transaction Documents.
SECTION 5.Acknowledgement and Agreement.  Each of the parties hereto hereby acknowledges and agrees that each of the Receivables and Related Rights heretofore sold, transferred or assigned by the Released Originator to the Company pursuant to the Agreement shall remain property of the Company and that the Company is not selling, transferring or assigning any such property to the Released Originator in connection with this Amendment.
SECTION 6.Representations and Warranties.  Each of the Continuing Originators (solely with respect to clause (a) below; it being understood and agreed that each Continuing Originator makes the representations and warranties set forth in clause (a) below solely with respect to itself, and no Continuing Originator makes the representations and warranties set forth in clause (b) or (c) below) and the Company hereby represents and warrants as follows:
(a)Enforceability.  The execution and delivery by such Person of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within each of its organizational powers and have been duly authorized by all necessary organizational action on its part.  This Amendment and the Agreement (except with respect to the Released Originator), as amended hereby, are such Person’s valid and legally binding obligations, enforceable in accordance with their respective terms.
(b)No Default.  Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Purchase and Sale Termination Event, Unmatured Purchase and Sale Termination Event, Termination Event or Unmatured Termination Event exists or shall exist.
(c)Net Receivables Pool Balance.  Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, the sum of (A) the Aggregate Capital plus the Adjusted LC Participation Amount, plus (B) the Total Reserves, will not exceed the sum of (A) the Net Receivables Pool Balance on the date hereof, plus

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(B) the Purchasers’ Share of the amount of Collections on deposit in the Lock-Box Accounts on the date hereof (other than amounts set aside therein representing Discount and fees).
SECTION 7.Authorization to File Financing Statements.  Upon the effectiveness of this Amendment, the Company and the Administrator each hereby authorizes the Released Originator to file (at the expense of the Released Originator) UCC-3 amendments in substantially the form of Exhibit A hereto terminating the UCC-1 financing statements identified on Exhibit B hereto.  Each of the Company and the Administrator further agrees to execute and deliver at the Company’s expense such other releases or termination statements as the Released Originator may reasonably request from time to time in connection with the release of its obligations granted pursuant to this Amendment.
SECTION 8.Effect of Amendment.  All provisions of the Agreement, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Agreement other than as set forth herein.
SECTION 9.Effectiveness.  This Amendment shall become effective as of the date hereof upon receipt by the Administrator of duly executed counterparts of this Amendment by each of the parties hereto in form and substance reasonably satisfactory to the Administrator.
SECTION 10.Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof.
SECTION 11.Governing Law.  This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York.
SECTION 12.Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof.
SECTION 13.Ratification.  After giving effect to this Amendment and the transactions contemplated by this Amendment, all of the provisions of the Performance Guaranty shall remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that (a) the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms and (b) that each of the Continuing Originators’ obligations under Section 4 above shall constitute “Guaranteed Obligations” (under and as defined in the Performance Guaranty).

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SECTION 14.  No Proceeding.  The Released Originator hereby agrees that it will not institute, or join any other Person in instituting, against Arch Receivable Company, LLC any Insolvency Proceeding so long as any of the Seller’s obligations under the Receivables Purchase Agreement remains outstanding and for at least one year and one day following the day on which the Seller’s obligations under the Receivables Purchase Agreement are paid in full.
SECTION 15.Severability.  Each provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any provision hereof, and the unenforceability of one or more provisions of this Amendment in one jurisdiction shall not have the effect of rendering such provision or provisions unenforceable in any other jurisdiction.

[Signatures begin on next page]

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized as of the date first above written.

ARCH COAL, INC.,

By: /s/Robert G. JonesName: Robert G. JonesTitle: Senior Vice President – Law, General

Counsel and Secretary

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S-1

Fourth Amendment to A&R PSA (Arch Coal)


CONTINUING ORIGINATORS:

ARCH COAL SALES COMPANY, INC.

ARCH ENERGY RESOURCES, LLC

ARCH WESTERN RESOURCES, LLC

MINGO LOGAN COAL LLC

MOUNTAIN COAL COMPANY, L.L.C.

THUNDER BASIN COAL COMPANY, L.L.C.

COALQUEST DEVELOPMENT LLC

HUNTER RIDGE COAL LLC

HUNTER RIDGE HOLDINGS, INC.

HUNTER RIDGE LLC

ICG BECKLEY, LLC

ICG EAST KENTUCKY, LLC

ICG ILLINOIS, LLC

ARCH COAL GROUP, LLC

ICG, LLC

ICG NATURAL RESOURCES, LLC

ICG TYGART VALLEY, LLC

INTERNATIONAL ENERGY GROUP, LLC

MARINE COAL SALES LLC

SIMBA GROUP LLC

UPSHUR PROPERTY LLC



By: /s/Robert G. Jones
Name: Robert G. Jones
Title: Secretary

BRONCO MINING COMPANY LLC

HAWTHORNE COAL COMPANY LLC

KING KNOB COAL CO. LLC

MELROSE COAL COMPANY LLC

PATRIOT MINING COMPANY LLC

VINDEX ENERGY LLC

WHITE WOLF ENERGY LLC

WOLF RUN MINING LLC

By:/s/Robert G. Jones
Name: Robert G. Jones
Title: Secretary

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Fourth Amendment to A&R PSA (Arch Coal)


RELEASED ORIGINATOR:

COAL-MAC LLC


By: /s/Robert G. Jones
Name: Robert G. Jones
Title: Secretary

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Fourth Amendment to A&R PSA (Arch Coal)


CONSENT TO:

PNC BANK, NATIONAL ASSOCIATION,

as Administrator and as a Purchaser Agent

By: /s/Michael Brown

Name: Michael Brown

Title: Senior Vice President

PNC BANK, NATIONAL ASSOCIATION,

as the LC Bank

By: /s/ Michael Brown

Name: Michael Brown

Title: Senior Vice President

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S-4

Fourth Amendment to A&R PSA (Arch Coal)


REGIONS BANK,

as a Purchaser Agent

By: /s/Mark A. Kassis​ ​
Name:Mark A. Kassis

Title: Managing Director

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Fourth Amendment to A&R PSA (Arch Coal)


Schedule ILIST OF ORIGINATORS

Arch Coal Sales Company, Inc.

Arch Energy Resources, LLC

Arch Western Resources, LLC

Mingo Logan Coal LLC

Mountain Coal Company, L.L.C.

Thunder Basin Coal Company, L.L.C.

Bronco Mining Company LLC

CoalQuest Development LLC

Hawthorne Coal Company LLC

Hunter Ridge Coal LLC

Hunter Ridge Holdings, Inc.

Hunter Ridge LLC

ICG Beckley, LLC

ICG East Kentucky, LLC

ICG Illinois, LLC

Arch Coal Group, LLC

ICG, LLC

ICG Natural Resources, LLC

ICG Tygart Valley, LLC

International Energy Group, LLC

King Knob Coal Co. LLC

Marine Coal Sales LLC

Melrose Coal Company LLC

Patriot Mining Company LLC

Simba Group LLC

Upshur Property LLC

Vindex Energy LLC

White Wolf Energy LLC

Wolf Run Mining LLC

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Schedule I-1


Schedule II

LOCATION OF EACH ORIGINATOR

Originator

Location

Arch Coal Sales Company, Inc.

Delaware

Arch Energy Resources, LLC

Delaware

Arch Western Resources, LLC

Delaware

Mingo Logan Coal LLC

Delaware

Mountain Coal Company, L.L.C.

Delaware

Thunder Basin Coal Company, L.L.C.

Delaware

Bronco Mining Company LLC

West Virginia

CoalQuest Development LLC

Delaware

Hawthorne Coal Company LLC

West Virginia

Hunter Ridge Coal LLC

Delaware

Hunter Ridge Holdings, Inc.

Delaware

Hunter Ridge LLC

Delaware

ICG Beckley, LLC

Delaware

ICG East Kentucky, LLC

Delaware

ICG Illinois, LLC

Delaware

Arch Coal Group, LLC

Delaware

ICG, LLC

Delaware

ICG Natural Resources, LLC

Delaware

ICG Tygart Valley, LLC

Delaware

International Energy Group, LLC

Delaware

King Knob Coal Co. LLC

West Virginia

Marine Coal Sales LLC

Delaware

Melrose Coal Company LLC

West Virginia

Patriot Mining Company LLC

West Virginia

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Schedule II-1


Simba Group LLC

Delaware

Upshur Property LLC

Delaware

Vindex Energy LLC

West Virginia

White Wolf Energy LLC

Virginia

Wolf Run Mining LLC

West Virginia

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Schedule II-2


Schedule IV

TRADE NAMES

Legal Name

Trade Names

Arch Coal Sales Company, Inc.

Arch Energy Resources, LLC

Arch Western Resources, LLC

Mingo Logan Coal LLC

Mountain Coal Company, L.L.C.

Thunder Basin Coal Company, L.L.C.

Bronco Mining Company LLC

CoalQuest Development LLC

Hawthorne Coal Company LLC

Hunter Ridge Coal LLC

Hunter Ridge Holdings, Inc.

Hunter Ridge LLC

ICG Beckley, LLC

ACI Beckley, LLC

ACI Beckley

ICG East Kentucky, LLC

ICG Illinois, LLC

ACI Illinois, LLC

Arch Coal Group, LLC

ICG, Inc. of Delaware

ICG, LLC

ICG Coal, LLC

ICG Natural Resources, LLC

ACI Natural Resources, LLC

ACI Natural Resources

ICG Tygart Valley, LLC

ACI Tygart Valley, LLC

International Energy Group, LLC

King Knob Coal Co. LLC

Marine Coal Sales LLC

Melrose Coal Company LLC

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Schedule IV-1


Patriot Mining Company LLC

Simba Group LLC

Upshur Property LLC

Vindex Energy LLC

White Wolf Energy LLC

Wolf Run Mining LLC

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Schedule IV-2


Schedule V

LOCATION OF MINING OPERATIONS

ORIGINATOR

MINEHEAD

STATE

COUNTY

Arch Coal Sales Company, Inc.

N/A

Arch Energy Resources, LLC

N/A

Arch Western Resources, LLC

N/A

Mingo Logan Coal LLC

Mountain Laurel

West Virginia

Logan

Mountain Coal Company, L.L.C.

West Elk

Colorado

Gunnison

Thunder Basin Coal Company, L.L.C.

Black Thunder

Coal Creek

Wyoming
Wyoming

Campbell
Campbell

Bronco Mining Company LLC

N/A

CoalQuest Development LLC

N/A

Hawthorne Coal Company LLC

N/A

Hunter Ridge Coal LLC

N/A

Hunter Ridge Holdings, Inc.

N/A

Hunter Ridge LLC

N/A

ICG Beckley, LLC

Beckley

West Virginia

Raleigh

ICG East Kentucky, LLC

East Kentucky

Kentucky

Pike

ICG Illinois, LLC

Viper

Illinois

Sangamon

Arch Coal Group, LLC

N/A

ICG, LLC

N/A

ICG Natural Resources, LLC

N/A

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Schedule V-1


ORIGINATOR

MINEHEAD

STATE

COUNTY

ICG Tygart Valley, LLC

Tygart Valley

West Virginia

Taylor

International Energy Group, LLC

N/A

King Knob Coal Co. LLC

N/A

Marine Coal Sales LLC

N/A

Melrose Coal Company LLC

N/A

Patriot Mining Company LLC

Patriot Mining

West Virginia

Monogalia

Simba Group LLC

N/A

Upshur Property LLC

N/A

Vindex Energy LLC

Vindex Energy

Vindex Energy

Vindex Energy

Maryland

Maryland

West Virginia

Allegany

Garrett

Grant

White Wolf Energy LLC

N/A

Wolf Run Mining LLC

Buckhannon Harrison

Buckhannon Harrison

Sentinel

West Virginia

West Virginia

West Virginia

Upshur

Harrison

Barbour

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Schedule V-2


Exhibit A

UCC-3 TERMINATION STATEMENTS TO BE FILED

(attached)

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Exhibit A-1

Fourth Amendment to A&R PSA

(Arch Coal)


Exhibit B

UCC-1 FINANCING STATEMENTS TO BE TERMINATED

Released Originator

Filing Office

Identification Number

Filing Date

Coal-Mac LLC

Logan County, WV

Book 575 Page 0001

February 26, 2010

Coal-Mac LLC

Logan County, WV

Book 634 Page 47-55

January 19, 2017

Coal-Mac LLC

Logan County, WV

Doc ID 002396890009

BK 634 Pages 477-485

February 8, 2017

Coal-Mac LLC

Mingo County, WV

Book 0423 Page 162

February 26, 2010

Coal-Mac LLC

Mingo County, WV

Book 0423 Page 426

March 23, 2010

Coal-Mac LLC

Mingo County, WV

Book 0463 Page 360

January 19, 2017

Coal-Mac LLC

Mingo County, WV

File 7 Page 5-16

January 19, 2017

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Exhibit B-1

Fourth Amendment to A&R PSA

(Arch Coal)


Coal-Mac LLC

Mingo County, WV

0463 Page 516

February 9, 2017

Coal-Mac LLC

Kentucky SOS

2017-2873595

January 3, 2017

Coal-Mac LLC

Kentucky SOS

2006-2147737-69

February 13, 2006

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Exhibit B-2

Fourth Amendment to A&R PSA

(Arch Coal)