Exhibit 10.2
Execution Version
FIRST
AMENDMENT TO CREDIT AGREEMENT
FIRST AMENDMENT TO CREDIT AGREEMENT (this First Amendment), dated as of
December 6, 2023, by and among KINETIK HOLDINGS LP, a Delaware limited partnership (the Borrower), solely for purposes of Section 5 hereto, Kinetik Holdings Inc., a Delaware corporation (the
Borrower Parent), PNC BANK, NATIONAL ASSOCIATION, as administrative agent (in such capacity, the Administrative Agent), and each of the financial institutions party hereto as Lenders.
W I T N E S S E T H:
WHEREAS, the Borrower, the Administrative Agent, each of the other agents from time to time party thereto (the Agents) and
the Existing Lenders and the Exiting Lender are party to that certain Credit Agreement, dated as of June 8, 2022 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the First Amendment Effective Date
referred to below, the Credit Agreement, and as amended by this First Amendment, the Amended Credit Agreement), pursuant to which the Existing Lenders have made certain credit available to and on behalf of the
Borrower;
WHEREAS, the Borrower desires to (a) extend the Maturity Date under the Credit Agreement by one year, (b) provide for
an additional automatic six-month extension of the Maturity Date if certain criteria are met and (c) amend certain provisions of the Credit Agreement in connection with the foregoing as set forth herein;
and
WHEREAS, in order to effect the foregoing, the parties hereto desire to amend the Credit Agreement on the terms and subject to the
conditions set forth herein.
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, it is agreed as follows:
SECTION 1. Defined Terms. Capitalized terms used but not
defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement. Unless otherwise indicated, all references to sections in this First Amendment refer to sections in the Amended Credit Agreement. For the purposes of this
First Amendment, the following terms shall have the following meanings:
Agent-Related Person has the
meaning assigned to such term in Section 7 hereto.
Assigning Lenders has the
meaning assigned to such term in Section 7 hereto.
Existing Lenders means,
collectively, PNC Bank, National Association, Truist Bank, Bank of America, N.A., MUFG Bank Ltd., Wells Fargo Bank, N.A., The Toronto-Dominion Bank, New York Branch, Mizuho Bank, Ltd., The Bank of Nova Scotia, Houston Branch, CoBank, ACB, Capital
One, National Association, U.S. Bank National Association, Sumitomo Mitsui Banking Corporation, ING Bank N.V., Susser Bank, and Trustmark National Bank.
Exiting Lender means Credit Suisse AG, New York Branch.
SECTION 2. Amendments to Credit Agreement. Subject to satisfaction of the condition of effectiveness set forth in
Section 3 of this First Amendment, on the First Amendment Effective Date:
(a) Section 1.1 of the Credit
Agreement is hereby amended by adding the following defined term in the appropriate alphabetical order:
Additional Maturity Date Extension Requirements means, in each case, prior to June 8, 2026 (i)
the aggregate principal amount of the outstanding Loans is equal to or less than $1,000,000,000 but greater than $0.00, (ii) the Borrower has paid all Extension Fees in full and (iii) no Default or Event of Default is continuing.