NorthWestern Energy Group, Inc 8-K, filed Dec 5, 2023

NorthWestern Energy Group, Inc. (NWE)

8-K 2023-12-05 For: 2023-11-29

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Added on April 10, 2026

About this 8-K

NorthWestern Energy Group, Inc filed this 8-K on December 5, 2023, reporting on events of November 29, 2023.

Items reported

Item 1.01: Entered into a material agreement
Item 2.03: New debt or off-balance-sheet obligation

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Registrant	Title of each class	Trading Symbol(s)	Name of each exchange on which registered
NorthWestern Energy Group, Inc.	Common stock	NWE	Nasdaq Stock Market LLC
NorthWestern Corporation	None	N/A	N/A


Exhibit No.						Description of Document
10.1*						Second Amended and Restated Credit Agreement, dated November 29, 2023
10.2*						$200,000,000 Credit Agreement, dated November 29, 2023
104						Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document

* filed herewith


						NorthWestern Energy Group, Inc.
						NorthWestern Corporation

			By:			/s/ Timothy P. Olson
						Timothy P. Olson
						Corporate Secretary


SECTION 1. DEFINITIONS			1
1.1. Defined Terms			1
1.2. Other Definitional Provisions			24
SECTION 2. AMOUNT AND TERMS OF COMMITMENTS			26
2.1. Revolving Credit Commitments			26
2.2. Procedure for Revolving Credit Borrowing			29
2.3. [Reserved]			29
2.4. [Reserved]			29
2.5. Repayment of Loans; Evidence of Debt			30
2.6. Commitment Fees, etc			30
2.7. Termination or Reduction of Revolving Credit Commitments			31
2.8. Optional Prepayments			31
2.9. Conversion and Continuation Options			31
2.10. Minimum Amounts and Maximum Number Borrowings, Conversions and Continuations			32
2.11. Interest Rates and Payment Dates			32
2.12. Computation of Interest and Fees			33
2.13. Inability to Determine Interest Rate			33
2.14. Pro Rata Treatment and Payments			36
2.15. Requirements of Law			39
2.16. Taxes			40
2.17. Indemnity			44
2.18. Illegality			44
2.19. Change of Lending Office			45
2.20. Replacement of Lenders under Certain Circumstances			45
2.21. Defaulting Lenders			45
2.22. Cash Collateral			48
2.23. ESG Adjustments			49
SECTION 3. LETTERS OF CREDIT			50
3.1. L/C Commitment			50
3.2. Procedure for Issuance of Letter of Credit			52
3.3. Fees and Other Charges			53
3.4. L/C Participations			53
3.5. Reimbursement Obligation of the Borrower			55
3.6. Obligations Absolute			55
3.7. Letter of Credit Payments			56
3.8. Applications			57
3.9. Existing Letters of Credit			57
3.10. Applicability of ISP and UCP; Limitation of Liability			57
SECTION 4. REPRESENTATIONS AND WARRANTIES			57
4.1. Financial Condition			57


4.2. No Change			58
4.3. Corporate Existence; Compliance with Law			58
4.4. Corporate Power; Authorization; Enforceable Obligations			58
4.5. No Legal Bar			59
4.6. No Material Litigation			59
4.7. No Default			59
4.8. Ownership of Property			59
4.9. Intellectual Property			59
4.10. Taxes			59
4.11. Federal Regulations			60
4.12. Labor Matters			60
4.13. ERISA			60
4.14. Investment Company Act; Other Regulations			61
4.15. Subsidiaries			61
4.16. Environmental Matters			61
4.17. Accuracy of Information, etc			63
4.18. Solvency			63
4.19. Anti-Corruption; OFAC; Anti-Money Laundering			63
4.20. Beneficial Ownership Regulation			64
4.21. Affected Financial Institution/Covered Entity. The Borrower is not an Affected Financial Institution or a Covered Entity			64
SECTION 5. CONDITIONS PRECEDENT			64
5.1. Conditions to Closing Date			64
5.2. Conditions to Each Extension of Credit or Increase of Revolving Credit Commitments			65
SECTION 6. AFFIRMATIVE COVENANTS			66
6.1. Financial Statements			66
6.2. Certificates; Other Information			68
6.3. Payment of Obligations			69
6.4. Conduct of Business and Maintenance of Existence; Compliance			69
6.5. Maintenance of Property; Insurance			69
6.6. Inspection of Property; Books and Records; Discussions			69
6.7. Notices			70
6.8. Environmental Laws			70
6.9. Further Assurances			71
6.10. Use of Proceeds			71
6.11. Credit Ratings			71
SECTION 7. NEGATIVE COVENANTS			71
7.1. Consolidated Debt to Capitalization Ratio			71
7.2. Limitation on Fundamental Changes			71
7.3. Limitation on Transactions with Affiliates			72


7.4. Limitation on Changes in Fiscal Periods			72
7.5. Limitation on Negative Pledge Clauses			72
7.6. Limitation on Restrictions on Subsidiary Distributions			72
7.7. Limitation on Lines of Business			72
7.8. Sanctions			72
7.9. Anti-Corruption Laws			73
SECTION 8. EVENTS OF DEFAULT			73
SECTION 9. THE ADMINISTRATIVE AGENT			75
9.1. Appointment			75
9.2. Delegation of Duties			76
9.3. Exculpatory Provisions			76
9.4. Reliance by the Administrative Agent			76
9.5. Notice of Default			77
9.6. Non-Reliance on Administrative Agent and Other Lenders			77
9.7. Indemnification			78
9.8. Agent in Its Individual Capacity			78
9.9. Successor Agents			78
9.10. The Joint Lead Arrangers; the Co-Syndication Agents; the Documentation Agent			79
9.11. Certain ERISA Matters			79
9.12. Recovery of Erroneous Payments			81
SECTION 10. MISCELLANEOUS			81
10.1. Amendments and Waivers			81
10.2. Notices			83
10.3. No Waiver; Cumulative Remedies			86
10.4. Survival of Representations and Warranties			86
10.5. Payment of Expenses			86
10.6. Successors and Assigns; Participations and Assignments			88
10.7. Adjustments; Set-off			93
10.8. Electronic Execution; Electronic Records; Counterparts			94
10.9. Severability			95
10.10. Integration			95
10.11. Governing Law			95
10.12. Submission To Jurisdiction; Waivers			95
10.13. No Fiduciary Duty			96
10.14. Confidentiality			96
10.15. [Reserved]			97
10.16. WAIVERS OF JURY TRIAL			97
10.17. USA PATRIOT ACT			97
10.18. Acknowledgement Regarding Any Supported QFCs			97


10.19. Acknowledgement and Consent to Bail-In of Affected Financial Institutions			98
10.20. Section 10.21 Amendment and Restatement			99


The Borrower:			Northwestern Corporation 3010 West 69th Street Sioux Falls, South Dakota 57108 Attention: Chief Financial Officer Telephone: (605) 978-2970 Email: crystal.lail@northwestern.com
with a copy to:			Northwestern Corporation 208 N Montana Avenue, Suite 205 Helena, Montana 59601 Attention: General Counsel Telephone: (406) 443-8903 Email: shannon.heim@northwestern.com
The Administrative Agent:			Gita Pandey Dallas Infomart 1950 N Stemmons Fwy Suite 6053 Dallas, TX 75207 TX1-160-06-02 Telephone: (214)209-2984 Email: Gita.pandey@bofa.com Gerund Diamond Agency Management Bank of America Plaza 540 W Madison Street Chicago, IL 60661 Mail Code: IL4-540-22-29 Telephone: (312) 992-8588 Facsimile: (312) 453-3635 Email: gerund.diamond@bofa.com
Issuing Lender:			As notified by such Issuing Lender to the Administrative Agent and the Borrower


Section 1. DEFINITIONS			1
1.1 Defined Terms			1
1.2 Other Definitional Provisions			24
Section 2. AMOUNT AND TERMS OF COMMITMENTS			26
2.1 Revolving Credit Commitments			26
2.2 Procedure for Revolving Credit Borrowing			29
2.3 Changes to Sublimits			29
2.4 [Reserved]			30
2.5 Repayment of Loans; Evidence of Debt			30
2.6 Commitment Fees, etc			31
2.7 Termination or Reduction of Revolving Credit Commitments			31
2.8 Prepayments			31
2.9 Conversion and Continuation Options			32
2.10 Minimum Amounts and Maximum Number Borrowings, Conversions and Continuations			33
2.11 Interest Rates and Payment Dates			33
2.12 Computation of Interest and Fees			34
2.13 Inability to Determine Interest Rate			34
2.14 Pro Rata Treatment and Payments			37
2.15 Requirements of Law			40
2.16 Taxes			41
2.17 Indemnity			45
2.18 Illegality			45
2.19 Change of Lending Office			46
2.20 Replacement of Lenders under Certain Circumstances			46
2.21 Defaulting Lenders			46
2.22 Cash Collateral			49
2.23 ESG Adjustments			50
Section 3. LETTERS OF CREDIT			51
3.1 L/C Commitment			51
3.2 Procedure for Issuance of Letter of Credit			53
3.3 Fees and Other Charges			54
3.4 L/C Participations			54
3.5 Reimbursement Obligation of the Borrowers			56
3.6 Obligations Absolute			56
3.7 Letter of Credit Payments			57
3.8 Applications			58
3.9 [Reserved]			58
3.10 Applicability of ISP; Limitation of Liability			58
Section 4. REPRESENTATIONS AND WARRANTIES			58


4.1 Financial Condition			58
4.2 No Change			59
4.3 Corporate Existence; Compliance with Law			59
4.4 Corporate Power; Authorization; Enforceable Obligations			59
4.5 No Legal Bar			60
4.6 No Material Litigation			60
4.7 No Default			60
4.8 Ownership of Property			60
4.9 Intellectual Property			60
4.10 Taxes			60
4.11 Federal Regulations			61
4.12 Labor Matters			61
4.13 ERISA			61
4.14 Investment Company Act; Other Regulations			62
4.15 Subsidiaries			62
4.16 Environmental Matters			63
4.17 Accuracy of Information, etc			64
4.18 Solvency			64
4.19 Anti-Corruption; OFAC; Anti-Money Laundering			64
4.20 Beneficial Ownership Regulation			65
4.21 Affected Financial Institution/Covered Entity			65
Section 5. CONDITIONS PRECEDENT			65
5.1 Conditions to Closing Date			65
5.2 Conditions to Each Extension of Credit or Increase of Revolving Credit Commitments			66
Section 6. AFFIRMATIVE COVENANTS			67
6.1 Financial Statements			67
6.2 Certificates; Other Information			69
6.3 Payment of Obligations			70
6.4 Conduct of Business and Maintenance of Existence; Compliance			70
6.5 Maintenance of Property; Insurance			70
6.6 Inspection of Property; Books and Records; Discussions			70
6.7 Notices			71
6.8 Environmental Laws			71
6.9 Further Assurances			72
6.10 Use of Proceeds			72
6.11 Credit Ratings			72
Section 7. NEGATIVE COVENANTS			72
7.1 Financial Covenant			72
7.2 Limitation on Fundamental Changes			72
7.3 Limitation on Transactions with Affiliates			73


7.4 Limitation on Changes in Fiscal Periods			73
7.5 Limitation on Negative Pledge Clauses			73
7.6 Limitation on Restrictions on Subsidiary Distributions			73
7.7 Limitation on Lines of Business			73
7.8 Sanctions			74
7.9 Anti-Corruption Laws			74
Section 8. EVENTS OF DEFAULT			74
Section 9. THE ADMINISTRATIVE AGENT			77
9.1 Appointment			77
9.2 Delegation of Duties			77
9.3 Exculpatory Provisions			77
9.4 Reliance by the Administrative Agent			77
9.5 Notice of Default			78
9.6 Non-Reliance on Administrative Agent and Other Lenders			78
9.7 Indemnification			79
9.8 Agent in Its Individual Capacity			79
9.9 Successor Agents			79
9.10 The Joint Lead Arrangers; the Co-Syndication Agents; the Documentation Agent			80
9.11 Certain ERISA Matters			80
9.12 Recovery of Erroneous Payments			82
Section 10. MISCELLANEOUS			82
10.1 Amendments and Waivers			82
10.2 Notices			84
10.3 No Waiver; Cumulative Remedies			87
10.4 Survival of Representations and Warranties			87
10.5 Payment of Expenses			87
10.6 Successors and Assigns; Participations and Assignments			89
10.7 Adjustments; Set-off			94
10.8 Electronic Execution; Electronic Records; Counterparts			95
10.9 Severability			96
10.10 Integration			96
10.11 Governing Law			97
10.12 Submission To Jurisdiction; Waivers			97
10.13 No Fiduciary Duty			97
10.14 Confidentiality			98
10.15 [Reserved]			99
10.16 WAIVERS OF JURY TRIAL			99
10.17 USA PATRIOT ACT			99
10.18 Acknowledgement Regarding Any Supported QFCs			99
10.19 Acknowledgement and Consent to Bail-In of Affected Financial Institutions			100


The Borrowers:			Northwestern Energy Group, Inc. 3010 West 69th Street Sioux Falls, South Dakota 57108 Attention: Chief Financial Officer Telephone: (605) 978-2970 Email: crystal.lail@northwestern.com Northwestern Energy Public Service Corporation 3010 West 69th Street Sioux Falls, South Dakota 57108 Attention: Chief Financial Officer Telephone: (605) 978-2970 Email: crystal.lail@northwestern.com
with a copy to:			Northwestern Energy Group, Inc. 208 N Montana Avenue, Suite 205 Helena, Montana 59601 Attention: General Counsel Telephone: (406) 443-8903 Email: shannon.heim@northwestern.com
The Administrative Agent:			Gita Pandey Dallas Infomart 1950 N Stemmons Fwy Suite 6053 Dallas, TX 75207 TX1-160-06-02 Telephone: (214)209-2984 Email: Gita.pandey@bofa.com Gerund Diamond Agency Management Bank of America Plaza 540 W Madison Street Chicago, IL 60661 Mail Code: IL4-540-22-29 Telephone: (312) 992-8588 Facsimile: (312) 453-3635 Email: gerund.diamond@bofa.com
Issuing Lender:			As notified by such Issuing Lender to the Administrative Agent and the Borrowers