JP Energy Partners LP (NYSE:JPEP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive |
On November18, 2016, JP Energy Partners LP (JPE) and certain of
its subsidiaries entered into Amendment No.6 to Credit Agreement
(the Amendment) with certain lenders and Bank of America, N.A.,
as administrative agent. The Amendment amends that certain Credit
Agreement, dated as of February12, 2014, by and among JPE, as
borrower, certain of its subsidiaries, as guarantors, the
Administrative Agent and certain lenders named therein (as
amended, the Credit Agreement).
The Amendment amends the Credit Agreement to permit the
replacement of JPEs general partner, JP Energy GP II LLC, with
Argo Merger GP Sub, LLC, in connection with the Agreement and
Plan of Merger, dated as of October23, 2016, by and among
American Midstream Partners, LP, American Midstream GP, LLC, JPE,
JP Energy GP II LLC, Argo Merger Sub, LLC, and Argo Merger GP
Sub, LLC. In addition, the Amendment provides that the failure to
prepay the outstanding loans under the Credit Agreement with the
proceeds from any senior unsecured notes offering issued or
guaranteed by American Midstream Partners, LP or any of its
subsidiaries is an event of default.
The description of the Amendment in this Form8-K is a summary and
is qualified in its entirety by the terms of the Amendment. A
copy of the Amendment is filed as Exhibit10.1 hereto, and is
incorporated herein by reference.
The Amendment is being filed herewith solely to provide investors
and security holders with information regarding its terms. It is
not intended to be a source of financial, business or operational
information about JPE or any of its subsidiaries or affiliates.
The representations, warranties and covenants contained in the
Amendment are made solely for purposes of that agreement and are
made as of specific dates; are solely for the benefit of the
parties thereto; may be made for the purpose of allocating
contractual risk between the parties instead of establishing
matters as facts; and may be subject to standards of materiality
applicable to the contracting parties that differ from those
applicable to investors or security holders. Investors and
security holders should not rely on the representations,
warranties and covenants or any description thereof as
characterizations of the actual state of facts or condition of
JPE or any of its subsidiaries or affiliates. Moreover,
information concerning the subject matter of the representations,
warranties and covenants may change after the date of the
Amendment, which subsequent information may or may not be fully
reflected in public disclosures
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Item2.03 |
Creation of a Direct Financial Obligation or an |
The disclosure under Item 1.01 of this Current Report on Form8-K
is incorporated herein by reference into this Item 2.03.
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Item 9.01 |
Financial Statements and Exhibits. |
(d)Exhibits
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ExhibitNumber |
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Description |
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10.1 |
Amendment No.6 to Credit Agreement, dated as of November18, |
About JP Energy Partners LP (NYSE:JPEP)
JP Energy Partners LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company provides midstream infrastructure solutions for the supply of crude oil, refined products and natural gas liquids (NGLs) in the United States. The Company’s segments include crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales. The Company’s crude oil businesses are situated in areas, including the Permian Basin and Eagle Ford shale. Its crude oil pipelines and storage segment manages the physical movement of crude oil from origination to final destination through its network of owned and leased assets. Its refined product terminals and storage segment consists of approximately two refined products terminals located in North Little Rock, Arkansas and Caddo Mills, Texas. The Company’s NGL distribution and sales segment involves the retail, commercial and wholesale sale of NGLs and other refined products. JP Energy Partners LP (NYSE:JPEP) Recent Trading Information
JP Energy Partners LP (NYSE:JPEP) closed its last trading session up +0.21 at 7.95 with 248,370 shares trading hands.