|
Quotes & Info
|
| RRMS > SEC Filings for RRMS > Form 8-K on 2-Oct-2012 | All Recent SEC Filings |
2-Oct-2012
Entry into a Material Definitive Agreement, Creation of a Direct Financ
As previously disclosed, on November 10, 2011, Rose Rock Midstream, L.P. (the
"Partnership") entered into a Credit Agreement (the "Credit Agreement") with
certain subsidiaries of the Partnership, as guarantors (the "Guarantors"), the
lenders party thereto (the "Lenders"), and The Royal Bank of Scotland plc, as
administrative agent and collateral agent (in such capacities, the "Agent") for
the Lenders. On September 26, 2012, the Partnership entered into a First
Amendment to the Credit Agreement (the "Amendment") with the Guarantors, the
Lenders, and the Agent, which amended the Credit Agreement to (i) permit
Incremental Revolving Commitments (as defined) in an aggregate amount not to
exceed $400 million (an increase of $200 million), (ii) permit the investment in
equity interests of SemCrude Pipeline, L.L.C., a Delaware limited liability
company ("SemCrude Pipeline"), in one or more related or unrelated transactions,
(iii) provided that the Partnership has acquired equity interests of SemCrude
Pipeline, permit up to $71 million of investments in SemCrude Pipeline for the
prompt contribution or other funding thereof to White Cliffs Pipeline, L.L.C.
("White Cliffs"), for the purposes of funding certain expected expansion
projects by White Cliffs, (iv) permit additional investments not otherwise
permitted in an aggregate amount not to exceed the greater of (a) $40 million
and (b) 10% of Consolidated Net Tangible Assets (as defined) plus any return of
capital actually received by the Partnership in respect of certain investments
previously made by the Partnership, and (v) include a negative pledge on White
Cliffs.
The discussion of the Amendment to the Credit Agreement in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.
|
|