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PVA > SEC Filings for PVA > Form 8-K on 30-Oct-2013All Recent SEC Filings

Show all filings for PENN VIRGINIA CORP

Form 8-K for PENN VIRGINIA CORP


30-Oct-2013

Creation of a Direct Financial Obligation or an Obligation under an Off-Balanc


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

On October 28, 2013, Penn Virginia Corporation (the "Registrant") entered into the Assignment and Fourth Amendment to Credit Agreement among Penn Virginia Holding Corp., a subsidiary of the Registrant, as borrower, the Registrant, as parent, the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent (the "Fourth Amendment"). The Fourth Amendment amends the Credit Agreement to, among other things, (i) increase the aggregate commitments thereunder from $350 million to $400 million (the "Commitment Increase"),
(ii) specify the commitment fees payable to each Lender in connection with the Commitment Increase, (iii) relax the maximum leverage ratio for an additional six months and (iv) allow the Administrative Agent to replace any Lender who fails to approve a borrowing base increase approved by two-thirds of the aggregate commitments. In addition, the Fourth Amendment increases the borrowing base under Credit Agreement from $350 million to $425 million.

A copy of the Fourth Amendment is attached as Exhibit 10.1 to this Current Report on Form 8-K, is incorporated herein by reference and is hereby filed. The description of the Fourth Amendment in this Current Report on Form 8-K is a summary and is qualified in its entirety by reference to the complete text of such agreement.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1    Assignment and Fourth Amendment to Credit Agreement, dated as of
        October 28, 2013, among Penn Virginia Holding Corp., as borrower, Penn
        Virginia Corporation, as parent, the lenders party thereto and Wells Fargo
        Bank, National Association, as administrative agent.


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