Emerge Energy Services LP (NYSE:EMES) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Revolving Credit Agreement Second Amendment
On February28, 2019, Emerge Energy Services LP (the Partnership), the Partnerships wholly owned subsidiaries Emerge Energy Services Operating LLC and Superior Silica Sands LLC (the Borrowers), PNC Bank, National Association (PNC Bank), as administrative agent and collateral agent, and the other lenders party thereto (together with PNC Bank, the Revolving Lenders) entered into the Forbearance Agreement and Third Amendment to Second Amended and Restated Revolving Credit and Security Agreement (the Revolving Credit Agreement Third Amendment).
The Revolving Credit Agreement Third Amendment provides for the Revolving Lenders to temporarily forbear from exercising certain rights and remedies against the Borrowers in connection with financial covenant defaults under the Second Amended and Restated Revolving Credit and Security Agreement, dated as of January5, 2018, as amended by the Forbearance Agreement and First Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated as of December31, 2018 and the Forbearance Agreement and Second Amendment to Second Amended and Restated Revolving Credit and Security Agreement, dated as of January31, 2019 (as so amended, the Revolving Credit Agreement) and certain other potential defaults that may occur during the forbearance period.
The foregoing description of the Revolving Credit Agreement Third Amendment is not complete and is qualified in its entirety by reference to the full text of the Revolving Credit Agreement Third Amendment, which is attached as Exhibit10.1 to this Current Report on Form8-K and incorporated into this Item 1.01 by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Emerge Energy Services LP Exhibit
EX-10.1 2 a19-5770_1ex10d1.htm EX-10.1 Exhibit 10.1 Execution Version FORBEARANCE AGREEMENT AND THIRD AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT This Forbearance Agreement and Third Amendment to Second Amended and Restated Revolving Credit and Security Agreement (this Agreement) is entered into as of February 28,…
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About Emerge Energy Services LP (NYSE:EMES)
Emerge Energy Services LP owns, operates, acquires and develops a portfolio of energy service assets. The Company’s segments include Sand segment, Fuel segment and Corporate. The Company’s Sand segment consists of the production and sale of various grades of industrial sand primarily used in the extraction of oil and natural gas, as well as the production of building products and foundry materials. Its Fuel segment operates approximately two terminals and over two transmix processing facilities that are located in the Dallas-Fort Worth, Texas area and Birmingham, Alabama. In addition to refining transmix, the Fuel segment sells a suite of complementary fuel products and services, including third-party terminaling services, certain reclamation services and blending of renewable fuels. The Company’s other services include blending of renewable fuels into petroleum products, and the manufacture of biodiesel at its Birmingham facility.