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DGAS > SEC Filings for DGAS > Form 8-K on 2-Jul-2013All Recent SEC Filings

Show all filings for DELTA NATURAL GAS CO INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for DELTA NATURAL GAS CO INC


2-Jul-2013

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


Item 1.01 Entry into a Material Definitive Agreement.

Effective June 30, 2013, Delta Natural Gas Company, Inc. entered into a Modification Agreement with Branch Banking and Trust Company which amends the Company's bank line of credit under the original Promissory Note and Addendum dated as of October 31, 2002 and subsequently modified as of October 31, 2003, October 31, 2004, August 12, 2005, August 31, 2007, June 30, 2009 and June 30, 2011.

Pursuant to the June 30, 2013 Modification Agreement, the scheduled termination date of the bank line of credit was extended to June 30, 2015. The aggregate principal amount the Company may borrow under the bank line of credit remains at $40,000,000. The interest on this line is determined monthly at the London Interbank Offered Rate plus 1.15% on the used bank line of credit. The annual cost of the unused bank line of credit is .125%.

Except as provided in the Modification Agreement, all of the terms of the Promissory Note and Addendum remain in full force and effect. The foregoing description of the Modification Agreement is a summary and is qualified in its entirety by reference to the Modification Agreement attached hereto as Exhibit
10(a), which is incorporated herein by reference to this Item 1.01.



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

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits
             Exhibit No.    Description

             10(a)         Modification Agreement dated June 30, 2013 extending to
                           June 30, 2015 the Promissory Note and Loan Agreement between
                           the Registrant and Branch Banking and Trust Company.


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