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 January 15, 2020, CrossAmerica Partners LP, a publicly traded Delaware limited partnership (the “Partnership”), entered into an Omnibus Agreement, effective as of January 15, 2020 (the “Omnibus Agreement”), among the Partnership, CrossAmerica GP LLC (the “General Partner”) and Dunne Manning Inc. (“DMI”), an affiliate of the General Partner. The terms of the Omnibus Agreement were approved by the conflicts committee of the board of directors of the General Partner (the “Board”), which is composed of the independent directors of the Board.
to the Omnibus Agreement, DMI has agreed, among other things, to provide, or cause to be provided, to the General Partner for the benefit of the Partnership, certain management, administrative and operating services as previously provided by Circle K Stores Inc. (“Circle K”) under the Transitional Omnibus Agreement, dated as of November 19, 2019, among the Partnership, the General Partner and Circle K.
The Omnibus Agreement will continue in effect until terminated in accordance with its terms. DMI has the right to terminate the Omnibus Agreement at any time upon 180 days’ prior written notice, and the General Partner has the right to terminate the Omnibus Agreement at any time upon 60 days’ prior written notice.
The foregoing description of the Omnibus Agreement is qualified in its entirety by the full text of the 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 9.01. FINANCIAL STATEMENTS AND EXHIBITS
The following exhibits have been filed or furnished with this report:
+ 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_6.htm EX-10.1 OMNIBUS AGREEMENT capl-ex101_6.htm Exhibit 10.1 EXECUTION VERSION 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.