![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Vistra Corp | NYSE:VST | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-4.88 | -5.34% | 86.45 | 90.51 | 85.31 | 90.51 | 6,018,985 | 00:50:51 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
|
||
(Address of principal executive offices) | (Zip Code) |
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.l4a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240. 14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
Trading Symbol(s) |
Name of Each Exchange on Which Registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01. | Entry into a Material Definitive Agreement. |
Accounts Receivable Securitization Facility
On July 11, 2024, TXU Energy Retail Company LLC (“TXU Retail”), TXU Energy Receivables Company LLC (“TXU Receivables”), a wholly owned subsidiary of TXU Retail, and Vistra Operations Company LLC (“Vistra Operations”), each of which are indirect, wholly owned subsidiaries of Vistra Corp., entered into an amendment (the “RPA Amendment”) to the Receivables Purchase Agreement dated as of August 21, 2018 (as amended, supplemented or otherwise modified from time to time, the “RPA”) among TXU Receivables, as seller, TXU Retail, as servicer, Vistra Operations, as performance guarantor, certain purchaser agents and purchasers named therein and Credit Agricole Corporate and Investment Bank, as administrator. The RPA Amendment extended the term of the RPA until July 11, 2025.
A copy of the RPA Amendment is included as Exhibit 4.1 to this Current Report and is incorporated herein by reference. The above description of the RPA Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the RPA Amendment.
Repurchase Facility
On July 11, 2024, TXU Retail, as seller and seller party agent, Vistra Operations, as guarantor, the originators named therein (collectively with TXU Retail, the “Originators”), and MUFG Bank, Ltd., as buyer (“Buyer”), entered into an amendment (the “Framework Amendment”) to the Master Framework Agreement, dated as of October 9, 2020 (as amended, supplemented or otherwise modified from time to time, the “MFA”), among TXU Retail, the Originators, and Buyer. The Framework Amendment extended the term of the MFA until July 11, 2025.
Additionally, on July 11, 2024, TXU Retail, as seller and MUFG, as buyer, entered into an amendment (the “Repurchase Amendment”) to the Master Repurchase Agreement, dated as of October 9, 2020, between TXU Retail and MUFG. The Repurchase Amendment amended the definition of “Pricing Rate” from SOFR plus 1.50% to SOFR plus 1.60%.
Copies of the Framework Amendment and Repurchase Amendment are included as Exhibits 10.1 and 10.2, respectively, to this Current Report and are incorporated herein by reference. The above descriptions of the Framework Amendment and Repurchase Amendment do not purport to be complete and are qualified in its entirety by reference to the full text of the Framework Amendment and Repurchase Amendment.
Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 of this Current Report is incorporated by reference herein.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
* | Certain annexes and schedules to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. Vistra agrees to furnish supplementally a copy of any omitted annexes or schedule to the SEC upon its request. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Vistra Corp. | ||||||
Dated: July 12, 2024 | /s/ William M. Quinn | |||||
Name: | William M. Quinn | |||||
Title: | Senior Vice President and Treasurer |
Exhibit 4.1
EXECUTION VERSION
FIFTEENTH AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT
This FIFTEENTH AMENDMENT (this Amendment), dated as of July 11, 2024, is among TXU ENERGY RECEIVABLES COMPANY LLC, a Delaware limited liability company, as seller (the Seller), TXU ENERGY RETAIL COMPANY LLC, a Texas limited liability company (TXU), as servicer (in such capacity, together with its successors and permitted assigns in such capacity, the Servicer), CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, a national banking association (CACIB), as Administrator (in such capacity, together with its successors and permitted assigns in such capacity, the Administrator), the PURCHASERS and PURCHASER AGENTS from time to time party to the Agreement (the Purchasers) and VISTRA OPERATIONS COMPANY LLC, a Delaware limited liability company (Vistra), as Performance Guarantor. Capitalized terms used but not otherwise defined herein have the respective meanings assigned thereto in the Agreement (as defined below).
R E C I T A L S
WHEREAS, the parties hereto are parties to the Receivables Purchase Agreement, dated as of August 21, 2018 (as amended, restated, supplemented or otherwise modified through the date hereof, the Agreement);
WHEREAS, concurrently herewith the parties are entering into an Amended and Restated Purchaser Group Fee Letter (the Fee Letter); and
WHEREAS, 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:
A G R E E M E N T
SECTION 1. Amendments to the Agreement. The Agreement is hereby amended as follows:
1.1 Section 1.6(a) of the Agreement is amended by adding the following proviso to the end of the last sentence of such section:
; provided, that any distributions to the Purchaser Agent of the CACIB Purchaser Group (for the benefit of the CACIB Purchasers within the CACIB Purchaser Group), shall be made pursuant to that certain notice of tranching of principal balance by the Purchaser Agent of the CACIB Purchaser Group and Atlantic Asset Securitization LLC, dated as of July 11, 2024.
1.2 The definition of Facility Termination Date set forth in Exhibit I of the Agreement is amended by deleting the date July 11, 2024 where it appears therein and replacing it with July 11, 2025.
SECTION 2. Conditions to Effectiveness. This Amendment shall become effective as of the date hereof, provided that neither the Facility Termination Date nor a Termination Event or Unmatured Termination Event has occurred and subject to (i) the payment of any fees, costs and expenses due and payable to each Purchaser Agent under the Fee Letter and (ii) the condition precedent that the Administrator shall have received (a) counterparts of this Amendment (whether by facsimile or otherwise) and (b) counterparts of the Fee Letter (whether by facsimile or otherwise) executed by each of the respective parties thereto, each duly executed and dated as of the date hereof (or such other date satisfactory to the Administrator), in form and substance satisfactory to the Administrator.
SECTION 3. Representations and Warranties.
Each of the Seller and the Servicer, as applicable, hereby represents and warrants to each Purchaser, each Purchaser Agent and the Administrator as follows:
(a) Representations and Warranties. Immediately after giving effect to this Amendment, the representations and warranties contained in Exhibit III of the Agreement are true and correct as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations or warranties were true and correct as of such earlier date).
(b) Enforceability. The execution and delivery by each of the Seller and the Servicer of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are (i) within each of its organizational powers and have been duly authorized by all necessary action on each of its parts, (ii) do not contravene or result in a default under or conflict with (A) its constitutional documents; (B) any law, rule or regulation applicable to it except where such contravention, default or conflict would not have a Material Adverse Effect; (C) any indenture, loan agreement, mortgage, deed of trust or other material agreement or instrument to which it is a party or by which it is bound; or (D) any order, writ, judgment, award, injunction or decree binding on or affecting it or any of its property; and (iii) do not result in or require the creation of any Adverse Claim upon or with respect to any of its properties except under the Transaction Documents. This Amendment and the Agreement, as amended hereby, are each of the Sellers and the Servicers valid and legally binding obligations, enforceable in accordance with its terms.
(c) No Default. Immediately after giving effect to this Amendment, the Fee Letter and the transactions contemplated hereby and thereby, no Termination Event or Unmatured Termination Event exists or shall exist and the Purchased Interest shall not exceed 100%.
SECTION 4. Effect of Amendment; Ratification. Except as specifically amended hereby, the Agreement is hereby ratified and confirmed in all respects, and all of its provisions shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to the Receivables Purchase Agreement, this Agreement, hereof, herein, or words of similar effect, in each case referring to the Agreement, shall be deemed to be references to the Agreement as amended hereby. This Amendment shall not be deemed to expressly or impliedly waive, amend, or supplement any provision of the Agreement other than as specifically set forth herein.
-2-
SECTION 5. Reaffirmation of Performance Guaranty. After giving effect to this Amendment, the Fee Letter and each of the other transactions contemplated hereby and thereby, all of the provisions of the Performance Guaranty shall remain in full force and effect and Vistra hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.
SECTION 6. Counterparts. This Amendment may be executed in any number of counterparts (including in PDF or similar electronic format by facsimile or e-mail transmission), each of which, when so executed, shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same agreement.
SECTION 7. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN §5-1401 AND §5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO).
SECTION 8. Section Headings. The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or the Agreement or any provision hereof or thereof.
SECTION 9. Successors and Assigns. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.
SECTION 10. Severability. If any one or more of the agreements, provisions or terms of this Amendment shall for any reason whatsoever be held invalid or unenforceable, then such agreements, provisions or terms shall be deemed severable from the remaining agreements, provisions and terms of this Amendment and shall in no way affect the validity or enforceability of the provisions of this Amendment or the Agreement.
SECTION 11. Post-Closing Covenant. By not later than August 11, 2024, the Seller and Servicer shall instruct all Obligors remitting payments to Energy Harbor LLC by check to cease directing such checks to the Servicer and begin directing such checks to a Lock-Box or Payment Processor. The parties hereto hereby agree that any failure to instruct Obligors remitting payments to Energy Harbor LLC by check to make such payments to a Lock-Box or Payment Processor at any time prior to such date (including prior to the date hereof) shall be deemed to not be a breach of Sections 1(i) or 2(g) of Exhibit IV of the Agreement (or any analogous provision of the Agreement or any other Transaction Document) so long as the Servicer remits such funds to a Collection Account not later than two (2) Business Days following receipt and identification thereof. If, after August 11, 2024, the Seller and Servicer have not instructed all Obligors remitting payments to Energy Harbor LLC by check to cease directing such checks to the Servicer and begin directing such checks to a Lock-Box or Payment Processor, the parties hereto hereby agree that such failure shall be deemed to not be a breach of Sections 1(i) or 2(g) of Exhibit IV of the Agreement (or any analogous provision of the Agreement or any other Transaction Document) if the Servicer, on each date of determination, reduces the Net Receivables Pool Balance by the Outstanding Balance of each Receivable the related Obligor of which has remitted payments to Energy Harbor LLC by check; provided, however, that the Servicer shall at all times remit such funds to a Collection Account not later than two (2) Business Days following receipt and identification thereof. For the avoidance of doubt, the parties hereto are not hereby waiving or permitting any other breach of the Seller and Servicers obligations under the Transaction Documents.
[SIGNATURE PAGES FOLLOW]
-3-
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.
TXU ENERGY RECEIVABLES COMPANY LLC, | ||
as Seller | ||
By: | /s/ William M. Quinn | |
Name: William M. Quinn | ||
Title: Senior Vice President and Treasurer | ||
TXU ENERGY RETAIL COMPANY LLC, in its individual capacity and as Servicer | ||
By: | /s/ William M. Quinn | |
Name: William M. Quinn | ||
Title: Senior Vice President and Treasurer | ||
VISTRA OPERATIONS COMPANY LLC, as Performance Guarantor | ||
By: | /s/ William M. Quinn | |
Name: William M. Quinn | ||
Title: Senior Vice President and Treasurer |
[Signature Page to Fifteenth Amendment to RPA]
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Administrator | ||
By: | /s/ David R. Núñez | |
Name: David R. Núñez | ||
Title: Director | ||
By: | /s/ Michael Regan | |
Name: Michael Regan | ||
Title: Managing Director |
[Signature Page to Fifteenth Amendment to RPA]
CACIB PURCHASER GROUP: | ||
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Purchaser Agent | ||
By: | /s/ David R. Núñez | |
Name: | David R. Núñez | |
Title: | Director | |
By: | /s/ Michael Regan | |
Name: | Michael Regan | |
Title: | Managing Director | |
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Committed Purchaser | ||
By: | /s/ David R. Núñez | |
Name: | David R. Núñez | |
Title: | Director | |
By: | /s/ Michael Regan | |
Name: | Michael Regan | |
Title: | Managing Director |
ATLANTIC ASSET SECURITIZATION LLC, as Conduit Purchaser | ||
By: Credit Agricole Corporate and Investment Bank, as Attorney-in-fact | ||
By: | /s/ David R. Núñez | |
Name: | David R. Núñez | |
Title: | Director | |
By: | /s/ Michael Regan | |
Name: | Michael Regan | |
Title: | Managing Director |
[Signature Page to Fifteenth Amendment to RPA]
RBC PURCHASER GROUP: | ||
ROYAL BANK OF CANADA, as Purchaser Agent | ||
By: | /s/ Veronica L. Gallagher | |
Name: | Veronica L. Gallagher | |
Title: | Authorized Signatory | |
ROYAL BANK OF CANADA, as Committed Purchaser | ||
By: | /s/ Veronica L. Gallagher | |
Name: | Veronica L. Gallagher | |
Title: | Authorized Signatory | |
By: | /s/ Ross Shaiman | |
Name: | Ross Shaiman | |
Title: | Authorized Signatory | |
THUNDER BAY FUNDING, LLC, as Conduit Purchaser |
By: | /s/ Veronica L. Gallagher | |
Name: | Veronica L. Gallagher | |
Title: | Authorized Signatory |
[Signature Page to Fifteenth Amendment to RPA]
MUFG PURCHASER GROUP: | ||
MUFG BANK, LTD., as Purchaser Agent | ||
By: | /s/ Helen Ellis | |
Name: | Helen Ellis | |
Title: | Managing Director | |
MUFG BANK, LTD., as Committed Purchaser | ||
By: | /s/ Helen Ellis | |
Name: | Helen Ellis | |
Title: | Managing Director | |
GOTHAM FUNDING CORPORATION, as Conduit Purchaser | ||
By: | /s/ Kevin J. Corrigan | |
Name: | Kevin J. Corrigan | |
Title: | Vice President |
[Signature Page to Fifteenth Amendment to RPA]
Exhibit 10.1
EXECUTION VERSION
AMENDMENT NO. 5 TO MASTER FRAMEWORK AGREEMENT
This AMENDMENT NO. 5 TO MASTER FRAMEWORK AGREEMENT (this Amendment), is made and entered into as of July 11, 2024 (the Amendment Date), by and among each of:
(A) MUFG Bank, Ltd., a Japanese banking corporation (MUFG), as buyer (Buyer);
(B) TXU Energy Retail Company LLC, a Texas limited liability company (TXU), as seller (the Seller);
(C) each originator party hereto (each, an Originator; and together with the Seller, each a Seller Party and collectively, the Seller Parties);
(D) TXU, as agent for the Seller Parties (in such capacity, the Seller Party Agent); and
(E) solely with respect to Section 4.4 hereof, Vistra Operations Company LLC, as guarantor (the Guarantor),
and amends that certain Master Framework Agreement dated as of October 9, 2020, by and among Buyer, the Seller, the Originators and the Seller Party Agent (as amended, supplemented or modified prior to the date hereof, the Framework Agreement and, as amended hereby, the Amended Framework Agreement). Each of Buyer, the Seller, each Originator and the Seller Party Agent may also be referred to herein individually as a Party, and collectively as the Parties.
RECITALS
WHEREAS, the Parties entered into the Framework Agreement and certain other Transaction Agreements for the purpose of providing the Seller with a facility under which Buyer will enter into certain sale and repurchase agreements with the Seller with respect to the Seller Note;
WHEREAS, Guarantor entered into a Guaranty in favor of Buyer pursuant to which Guarantor guaranteed the payment and performance of all obligations, liabilities and indebtedness owed by each Seller Party under the Transaction Agreements; and
WHEREAS, the Parties now wish to extend the Facility Term and amend certain other provisions of the Framework Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants, agreements and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confirmed, the Parties and, solely for purposes of Section 4.4 of this Amendment, the Guarantor agree as follows:
1. Interpretation.
1.1 Definitions. All capitalized terms used but not defined in this Amendment shall have the meanings set forth in the Framework Agreement (including Schedule 1 thereto).
1.2 Construction. The rules of construction set forth in Section 1.2 of the Framework Agreement shall apply to this Amendment.
2. Amendment. Effective from and after the Amendment Date, the definition of Scheduled Facility Expiration Date set forth in Schedule 1 to the Framework Agreement is hereby amended by replacing the date July 11, 2024 where it appears therein with the date July 11, 2025.
3. Representations, Warranties, Undertakings and Agreements.
3.1 Seller Party. In entering into this Amendment, each Seller Party represents to Buyer that each of the representations and warranties of such Seller Party (as applicable) set forth in the Framework Agreement and each other Transaction Agreement to which such Seller Party is a party are true and correct in all material respects (except that any representation or warranty that is subject to any materiality qualification is true and correct in all respects) as of the Amendment Date (unless such representation or warranty relates to an earlier date, in which case as of such earlier date).
4. Miscellaneous.
4.1 Counterparts. This Amendment may be executed by the Parties on any number of separate counterparts, by email, and all of those counterparts taken together will be deemed to constitute one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signatures are physically attached to the same document. The words execution, signed, signature, and words of like import in this Amendment shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation, pdf, tif or jpg) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable Law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.
4.2 Amendments to Master Repurchase Agreement. The Parties acknowledge and agree that, in connection with this Amendment and as a condition to the effectiveness hereof, Buyer and the Seller are entering into that certain Amendment No. 4 to Master Repurchase Agreement dated as of the Amendment Date (the MRA Amendment). The Parties further acknowledge and agree that, effective from and after the Amendment Date, all references in the Framework Agreement and the other Transaction Agreements to the Master Repurchase Agreement shall be deemed references to such agreement as amended by the MRA Amendment (as so amended, the Amended Master Repurchase Agreement). The Amended Master Repurchase Agreements shall constitute a Transaction Agreement under the Amended Framework Agreement.
2
4.3 Ratification and Amendment to Transaction Agreements. Except as amended hereby, or as otherwise specified in Section 4.2 hereof, each of the other Transaction Agreements remains in full force and effect. The Parties hereby acknowledge and agree that, effective from and after the Amendment Date, (i) all references to the Framework Agreement in any other Transaction Agreement shall deemed to be references to the Amended Framework Agreement, (ii) any amendment in this Amendment or the MRA Amendment of a defined term in the Framework Agreement or the Master Repurchase Agreement, as the case may be, shall apply to terms in any other Transaction Agreement which are defined by reference to the Framework Agreement or the Master Repurchase Agreement, and (iii) this sentence shall be effective to amend each of the relevant Transaction Agreements (including the Master Repurchase Agreement and each Annex thereto) to the extent necessary to give effect to the foregoing clauses (i) and (ii).
4.4 Guarantor Acknowledgment and Consent. The Guarantor hereby acknowledges the Parties entry into this Amendment and consents to the terms and conditions hereof (including with respect to the MRA Amendment), it being understood that such terms and conditions may affect the extent of the Guaranteed Obligations (as defined in the Guaranty) for which the Guarantor may be liable under the Guaranty. The Guarantor further confirms and agrees that the Guaranty remains in full force and effect after giving effect to this Amendment and, for the avoidance of doubt, acknowledges that any amendment herein or in the MRA Amendment to a defined term in the Framework Agreement or in the Master Repurchase Agreement (as the case may be) shall apply to terms in the Guaranty which are defined by reference to the Framework Agreement or the Master Repurchase Agreement.
4.5 GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN §5-1401 AND §5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO)).
4.6 Expenses. All reasonable and documented legal fees and expenses of Buyer incurred in connection with the preparation, negotiation, execution and delivery of this Amendment and each related document entered into in connection herewith shall be paid by the Seller promptly on demand.
[SIGNATURE PAGES FOLLOW]
3
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.
Buyer: | ||
MUFG BANK, LTD. | ||
By: | /s/ Matt Statton | |
Name: | Matt Statton | |
Title: | Managing Director |
[SIGNATURE PAGES CONTINUE ON FOLLOWING PAGE]
[Signature Page to Amendment No. 5 to Master Framework Agreement]
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.
Seller and Seller Party Agent: | ||
TXU ENERGY RETAIL COMPANY LLC | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer |
[SIGNATURE PAGES CONTINUE ON FOLLOWING PAGE]
[Signature Page to Amendment No. 5 to Master Framework Agreement]
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.
Originators: | ||
TXU ENERGY RETAIL COMPANY LLC, | ||
as an Originator | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer | |
DYNEGY ENERGY SERVICES, LLC, | ||
as an Originator | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer | |
DYNEGY ENERGY SERVICES (EAST), LLC, | ||
as an Originator | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer | |
AMBIT TEXAS, LLC, | ||
as an Originator | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer |
[Signature Page to Amendment No. 5 to Master Framework Agreement]
TRIEAGLE ENERGY LP, | ||
as an Originator | ||
By: | TriEagle 1, LLC, its general partner | |
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer | |
VALUE BASED BRANDS LLC, | ||
as an Originator | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer | |
ENERGY HARBOR LLC, | ||
as an Originator | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer |
[SIGNATURE PAGES CONTINUE ON FOLLOWING PAGE]
[Signature Page to Amendment No. 5 to Master Framework Agreement]
IN WITNESS WHEREOF, Guarantor has executed this Amendment (as of the date first written above.
Guarantor: | ||
VISTRA OPERATIONS COMPANY LLC | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer |
[SIGNATURE PAGES CONTINUE ON FOLLOWING PAGE]
[Signature Page to Amendment No. 5 to Master Framework Agreement]
Exhibit 10.2
EXECUTION VERSION
AMENDMENT NO. 4 TO MASTER REPURCHASE AGREEMENT
This AMENDMENT NO. 4 TO MASTER REPURCHASE AGREEMENT (this Amendment), is made and entered into as of July 11, 2024 (the Amendment Date), by and among each of
(A) MUFG Bank, Ltd., a Japanese banking corporation, as buyer (Buyer); and
(B) TXU Energy Retail Company LLC, a Texas limited liability company (TXU), as seller (the Seller);
and amends that certain that certain 1996 SIFMA Master Repurchase Agreement dated as of October 9, 2020, between Seller and Buyer (the Master Repurchase Agreement and, as amended hereby, the Amended Master Repurchase Agreement). Each of Buyer and Seller may also be referred to herein individually as a Party, and collectively as the Parties.
RECITALS
WHEREAS, the Parties entered into the Master Repurchase Agreement; and
WHEREAS, the Parties now wish to amend certain provisions of the Master Repurchase Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants, agreements and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confirmed, the Parties agree as follows:
1. | Interpretation. |
1.1 Definitions. All capitalized terms used but not defined in this Amendment shall have the meanings set forth in the Master Repurchase Agreement (including Annex I thereto).
1.2 Construction. The rules of construction set forth in Section 1.2 of the Framework Agreement shall apply to this Amendment.
2. | Amendment. |
2.1 Effective from and after the Amendment Date, the definition of Pricing Rate set forth in Annex I of the Master Repurchase Agreement is hereby amended and restated as follows:
Pricing Rate, the per annum percentage rate for determination of the Price Differential, determined for each Transaction (unless otherwise specified in the Confirmation) as being equal to the sum of (A) Term SOFR for the related Transaction Period, plus (B) 1.60% (it being understood that, if Seller Party Agent fails to deliver the required Transaction Notice for a Transaction and the other associated documents pursuant to Section 4.1(a) of the Framework Agreement at least three (3) Business Days prior to the proposed Purchase Date and Buyer nonetheless elects to proceed with the proposed Transaction, the MUFG Cost of Funds Rate shall be used instead of Term SOFR in determining the Pricing Rate for such Transaction);
3. | Representations, Warranties, Undertakings and Agreements. |
3.1 Seller. In entering into this Amendment, Seller hereby makes or repeats (as applicable) to Buyer as of the Amendment Date (or, to the extent expressly relating to a specific prior date, as of such prior date) the representations and warranties set forth in the Master Repurchase Agreement, and such representations and warranties shall be deemed to include this Amendment. Seller further represents as of the Amendment Date that it has complied in all material respects with all covenants and agreements applicable to it under the Master Repurchase Agreement.
4. | Miscellaneous. |
4.1 Counterparts. This Amendment may be executed by the Parties on any number of separate counterparts, by email, and all of those counterparts taken together will be deemed to constitute one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signatures are physically attached to the same document. The words execution, signed, signature, and words of like import in this Amendment shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation, pdf, tif or jpg) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable Law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.
4.2 Ratification; Amended Terms. Except as amended hereby the Master Repurchase Agreement remains in full force and effect. The Parties hereby acknowledge and agree that, effective from and after the Amendment Date, (i) all references to the Master Repurchase Agreement in any other Transaction Agreement shall be deemed to be references to the Amended Master Repurchase Agreement and (ii) any amendment in this Amendment of a defined term in the Master Repurchase Agreement shall apply to terms in any other Transaction Agreement which are defined by reference to the Master Repurchase Agreement.
4.3 GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN §5-1401 AND §5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO)).
2
4.4 Expenses. All reasonable and documented legal fees and expenses of Buyer incurred in connection with the preparation, negotiation, execution and delivery of this Amendment and each related document entered into in connection herewith shall be paid by the Seller promptly on demand.
[SIGNATURE PAGES FOLLOW]
3
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.
Buyer: | ||
MUFG BANK, LTD. | ||
By: | /s/ Matt Statton | |
Name: | Matt Statton | |
Title: | Managing Director |
[SIGNATURE PAGES CONTINUE ON FOLLOWING PAGE]
[Signature Page to Amendment No. 4 to Master Repurchase Agreement]
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.
Seller: | ||
TXU ENERGY RETAIL COMPANY LLC | ||
By: | /s/ William M. Quinn | |
Name: | William M. Quinn | |
Title: | Senior Vice President and Treasurer |
[Signature Page to Amendment No. 4 to Master Repurchase Agreement]
Document and Entity Information |
Jul. 11, 2024 |
---|---|
Cover [Abstract] | |
Amendment Flag | false |
Entity Central Index Key | 0001692819 |
Document Type | 8-K |
Document Period End Date | Jul. 11, 2024 |
Entity Registrant Name | VISTRA CORP. |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-38086 |
Entity Tax Identification Number | 36-4833255 |
Entity Address, Address Line One | 6555 Sierra Drive |
Entity Address, City or Town | Irving |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 75039 |
City Area Code | (214) |
Local Phone Number | 812-4600 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common stock, par value $0.01 per share |
Trading Symbol | VST |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
1 Year Vistra Chart |
1 Month Vistra Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions