Nuverra Environmental : Entry into a Material Definite Agreement (Form 8-K)

Entry into a Material Definite Agreement.

On August 19, 2021, Nuverra Environmental Solutions, Inc. . ('Nuverra' or the 'Company'), entered into a Second Amendment to Loan Agreement (the 'Second Amendment') with First International Bank & Trust, a North Dakota banking corporation (the 'Lender'), pursuant to which the Company and the Lender agreed to amend that certain Master Loan Agreement, dated November 16, 2020 (as previously amended, the 'Loan Agreement'), between the Company and Lender in order to increase by $531,166 the maximum availability under the letter of credit facility (the 'Letter of Credit Facility') and make certain other modifications to the terms of the Loan Agreement, including (i) modifying the debt service coverage ratio covenant, contained in section 5(N) of the Loan Agreement, so that it would first be tested for the fiscal year ending December 31, 2022, (ii) permitting the sale or other disposition of certain assets and other equipment, and (iii) temporarily increasing the interest rate on the CRE Loan (as such term defined in the Loan Agreement) by 1.5% per annum.

As amended, the Letter of Credit Facility provides for the issuance of letters of credit of up to $5.880 million in aggregate face amount and is evidenced by an existing Amended and Restated Promissory Note (Letter of Credit Loan), dated January 25, 2021 (the 'Existing Letter of Credit Note'), in the face amount of $5,349,000 and a newly executed Promissory Note (Letter of Credit Loan-Insurance), dated August 19, 2021 (the 'Additional Letter of Credit Note'), in the face amount of $531,166. All other terms of the Letter of Credit Facility remain unchanged.

The Second Amendment also provides for the addition of certain real property located in Mackenzie County, North Dakota to a mortgage previously granted by the Company in favor of the Lender.

The foregoing descriptions of the Second Amendment and the Additional Letter of Credit Note do not purport to be complete and are qualified in their entirety by reference to the full text of such documents, which are attached as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosures regarding the Second Amendment and the Additional Letter of Credit Note as set forth above in Item 1.01 are incorporated by reference in this Item 2.03.

Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description
10.1	Second Amendment to Loan Agreement, dated August 19, 2021, between Nuverra Environmental Solutions, Inc. and First International Bank & Trust.
10.2	Promissory Note (Letter of Credit Loan-Insurance), dated August 19, 2021, by Nuverra Environmental Solutions, Inc. in favor of First International Bank & Trust.