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RNO > SEC Filings for RNO > Form 8-K on 19-Apr-2013All Recent SEC Filings

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Form 8-K for RHINO RESOURCE PARTNERS LP


19-Apr-2013

Entry into a Material Definitive Agreement, Creation of a Direct Finan


Item 1.01 Entry into Material Definitive Agreement.

On April 18, 2013, Rhino Energy LLC (the "Company"), a wholly owned subsidiary of Rhino Resource Partners LP (the "Partnership"), as borrower, and the Partnership and certain of its subsidiaries, as guarantors, entered into an amendment of its Amended and Restated Credit Agreement (the "Amendment") with PNC Bank, National Association, as Administrative Agent, PNC Capital Markets and Union Bank, N.A., as Joint Lead Arrangers and Joint Bookrunners, Union Bank, N.A., as Syndication Agent, Raymond James Bank, FSB, Wells Fargo Bank, National Association and the Huntington National Bank, as Co-Documentation Agents and the lenders party thereto. The Amendment provides for an increase in the maximum allowed investments under the Amended and Restated Credit Agreement from $25 million to $40 million. The Amendment also alters the maximum leverage ratio, as calculated in accordance with the Amended and Restated Credit Agreement, such that the Partnership's and its consolidated subsidiaries' shall not at any time permit the leverage ratio, calculated as of the end of each fiscal quarter, to exceed the ratio set forth below for the periods specified below as at the end of each such fiscal quarter:

Period                                               Ratio
From April 1, 2013 through March 31, 2015        3.75 to 1.00
From April 1, 2015 through September 30, 2015    3.50 to 1.00
From October 1, 2015 through December 31, 2015   3.25 to 1.00
For each fiscal quarter thereafter               3.00 to 1.00"

In addition, the pricing grid of the Amended and Restated Credit Agreement was altered by the Amendment to include applicable interest rates for borrowings, letter of credit fees and commitment fees on unused borrowings based upon the calculated leverage ratio when it is greater than or equal to 3.00 to 1.00. All other terms of the Amended and Restated Credit Agreement were not affected by the Amendment.

The foregoing description is qualified in its entirety by reference to the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated into this Current Report on Form 8-K by reference.




Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosure set forth above under Item 1.01 to this Current Report on Form 8-K is hereby incorporated by referenced into this Item 2.03.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.                                Description

10.1          First Amendment to Amended and Restated Credit Agreement, dated
              April 18, 2013 by and among Rhino Energy LLC, PNC Bank, National
              Association, as Administrative Agent, PNC Capital Markets and Union
              Bank, N.A., as Joint Lead Arrangers and Joint Bookrunners, Union Bank,
              N.A., as Syndication Agent, Raymond James Bank, FSB, Wells Fargo Bank,
              National Association and the Huntington National Bank, as
              Co-Documentation Agents and the guarantors and lenders party thereto.


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