CrossAmerica Partners LP (NYSE:CAPL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On October 29, 2019, CrossAmerica Partners LP, a publicly traded Delaware limited partnership (the “Partnership”), entered into a Second Amended and Restated Omnibus Agreement, effective as of April 29, 2019, among the Partnership, CrossAmerica GP LLC, Dunne Manning Inc., CST Services, LLC, Circle K Stores Inc (“Circle K”), Dunne Manning Stores, LLC, and Joseph V. Topper, Jr. (the “Amended Omnibus Agreement”).
The Amended Omnibus Agreement removes references to fixed and variable management fees, calls for a simplified quarterly settlement based on actual underlying costs incurred by Circle K and permits a one-time charge of $183,000 from Circle K to the Partnership related to costs incurred by Circle K in connection with the strategic review of the Partnership’s fuel supply.
The foregoing description of the Amended Omnibus Agreement is qualified in its entirety by the full text of the Amended Omnibus Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 1.01.
Item 9.01Financial Statements and Exhibits
(d) Exhibits
+ Non-material schedules have been omitted to Item 601(a)(5) of Regulation S-K. The Partnership hereby undertakes to furnish supplemental copies of any of the omitted schedules upon request by the SEC.
CrossAmerica Partners LP Exhibit
EX-10.1 2 capl-ex101_7.htm EX-10.1 SECOND AMENDED AND RESTATED OMNIBUS AGREEMENT capl-ex101_7.htm Exhibit 10.1 SECOND AMENDED AND RESTATED OMNIBUS AGREEMENTBY AND AMONGCROSSAMERICA PARTNERS LP,…
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About CrossAmerica Partners LP (NYSE:CAPL)
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The Company’s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee, Virginia, Illinois, Indiana and West Virginia. The Company also distributes motor fuel in Georgia and North Carolina. It distributes motor fuels at approximately 1,100 sites located in over 20 states. In addition, the Company, through One Stop convenience stores network, owns over 40 stores in Charleston, West Virginia. The Company purchases branded and unbranded motor fuel from integrated oil companies, refiners and unbranded fuel suppliers. It owns or leases and operates convenience stores and retains all profits from motor fuel and convenience store operations.
