Item 1.01 Entry into a Material Definitive Agreement.
On September 2, 2022, Sprague Operating Resources LLC (the "U.S. Borrower") and
Kildair Service ULC (the "Canadian Borrower" and, together with the U.S.
Borrower, the "Borrowers"), wholly owned subsidiaries of Sprague Resources LP
(the "Partnership"), entered into a third amendment to second amended and
restated credit agreement (the "Amendment"), which amended the second amended
and restated credit agreement, dated May 19, 2020 (as previously amended, the
"Credit Agreement"), by and among the Borrowers, MUFG Bank, Ltd., as
administrative agent, and the lenders party thereto (the "Lenders").
The Amendment amended the Credit Agreement to, among other things, (i) increase
the Lenders' commitments under the Credit Agreement's (x) uncommitted U.S.
dollar revolving working capital facility from $255,000,000 to $365,000,000 and
(y) committed multicurrency revolving working capital facility from $96,600,000
to $100,000,000, (ii) decrease the Lenders' commitments under the Credit
Agreement's committed U.S. dollar revolving working capital facility from
$535,900,000 to $535,000,000, and (iii) extend the maturity date of the credit
facility from May 19, 2023 to September 2, 2024.
The foregoing description is qualified in its entirety by reference to the full
text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on
Form 8-K and incorporated in this Item 1.01 by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
The information contained in Item 1.01 above is incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
EXHIBIT DESCRIPTION
10.1 Third Amendment , dated Septe mber 2, 2022, to S econd
Amended and Restated Cred it Agreement dated May 19, 2020, among
Sprague Operating Resources LLC, as U.S. borrower, Kildair Service ULC ,
as Canadian borrower, the se veral lenders parties there to, MUFG Bank
Ltd. , as administrative agent, the co-syndication agents, the
collateral agent and the co-documentation agents part y thereto .
104 Cover Page Interactive Data File (formatted in Inline XBRL)
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