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| GLP > SEC Filings for GLP > Form 8-K on 1-Oct-2008 | All Recent SEC Filings |
1-Oct-2008
Entry into a Material Definitive Agreement, Creation of a Direct Financial Obl
The description of the amendment to the Credit Agreement described below under Item 2.03 is incorporated in this Item 1.01 by reference.
On September 26, 2008, Global Operating LLC, Global Companies LLC, Global Montello Group Corp., Glen Hes Corp. and Chelsea Sandwich LLC, as borrowers, Global Partners LP (the "Partnership") and Global GP LLC, as guarantors, each lender from time to time party thereto, and Bank of America, N.A., as Administrative Agent and L/C Issuer, entered into a Tenth Amendment to Credit Agreement and Limited Waiver (the "Amendment") which amended the Credit Agreement dated October 4, 2005 (as amended, the "Credit Agreement") and provided a limited waiver among the aforementioned parties. The Amendment provided, among other matters, a limited waiver of a provision in the Credit Agreement as follows:
† Pursuant to the Credit Agreement, in each calendar year, the Outstanding Amount of all WC Revolver Loans which constitute Tranche I Loans (as such terms are defined in the Credit Agreement) shall not exceed $97.0 million for a period of ten consecutive calendar days (the "Borrowing Limitation Requirement"). The borrowers have requested that the Administrative Agent and the Required Lenders (as defined in the Credit Agreement) waive the Borrowing Limitation Requirement for the calendar year ending December 31, 2008. Upon the effectiveness of the Amendment as described therein, the Required Lenders and the Administrative Agent hereby waive the Borrowing Limitation Requirement contained in the Credit Agreement for the calendar year ending December 31, 2008.
All other material terms remain the same as disclosed in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2007 and the Partnership's subsequent Current Reports on Form 8-K filed on June 17, 2008 and July 21, 2008. The Amendment is filed hereto as Exhibit 10.1 to this Current Report and is incorporated herein by reference.
(d) Exhibit
10.1 Tenth Amendment to Credit Agreement and Limited Waiver, dated as of September 26, 2008, among Global Operating LLC, Global Companies LLC, Global Montello Group Corp., Glen Hes Corp. and Chelsea Sandwich LLC, as borrowers, Global Partners LP and Global GP LLC, as guarantors, each lender from time to time party thereto, and Bank of America, N.A., as Administrative Agent and L/C Issuer
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