Item 1.01 - Entry into a Material Definitive Agreement.
Amendment to Amended and Restated Credit Agreement.
On April 30, 2020, Carbon Appalachia Enterprises, LLC and Nytis Exploration
(USA) Inc. (collectively, the "Borrowers") (each of which is a subsidiary of
Carbon Energy Corporation ("Carbon" or the "Company"), a Delaware corporation),
entered into a Fourth Amendment (the "Amendment") of the Amended and Restated
Credit Agreement dated as of December 31, 2018, by and among the Borrowers,
Prosperity Bank (successor by merger to LegacyTexas Bank), as administrative
agent (the "Administrative Agent"), and the lenders from time to time party
thereto (as amended, the "Credit Agreement"). Pursuant to the Amendment,
Borrowers, the Administrative Agent and such lenders agreed to amend certain
provisions of the Credit Agreement (described below).
Pursuant to the Amendment, the parties agreed that the dates by which the
Borrowing Base would be automatically reduced by a further $2 million are
changed from April 30, 2020 to May 31, 2020 and from May 1, 2020 to June 1,
2020.
The above description of the terms of the Amendment does not purport to be
complete and is qualified in its entirety by the full text of the Amendment,
which is attached as an exhibit hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. Description
10.1* Fourth Amendment to the Amended and Restated Credit Agreement,
dated April 30, 2020
* Filed herewith
© Edgar Online, source Glimpses