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EX-10.1 - EX-10.1 - EXCO RESOURCES INC | d757802dex101.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 14, 2014
EXCO RESOURCES, INC.
(Exact name of registrant as specified in its charter)
Texas | 001-32743 | 74-1492779 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
12377 Merit Drive Suite 1700, LB 82 Dallas, Texas |
75251 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (214) 368-2084
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 1 Registrants Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On July 14, 2014, EXCO Resources, Inc. (EXCO) entered into that certain Second Amendment to its Amended and Restated Credit Agreement, dated as of July 14, 2014, by and among EXCO, as borrower, certain of its subsidiaries, as guarantors, JPMorgan Chase Bank, N.A. (JPMorgan), as administrative agent, and the lenders party thereto (the Second Amendment).
The Second Amendment amended EXCOs existing Amended and Restated Credit Agreement, dated as of July 31, 2013, as amended (the Amended and Restated Credit Agreement), to, among other things, amend certain definitions, representations, warranties and covenants and add certain non-financial covenants, including increasing the amount of permitted cash dividends to the holders of EXCOs common stock from $50.0 million to $75.0 million. Under the Amended and Restated Credit Agreement (as amended by the Second Amendment), EXCO may, subject to certain conditions, declare and pay cash dividends on its common stock in an amount not to exceed $75.0 million in any period of four consecutive fiscal quarters.
A description of the material terms of the Amended and Restated Credit Agreement can be found in EXCOs Current Reports on Form 8-K filed on July 31, 2013 and August 19, 2013, and a description of the material terms of the First Amendment to the Amended and Restated Credit Agreement can be found in EXCOs Current Report on Form 8-K dated August 28, 2013, which descriptions are incorporated by reference. The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the Second Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Section 2 Financial Information
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
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Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
Description | |
10.1 | Second Amendment to Amended and Restated Credit Agreement, dated as of July 14, 2014, by and among EXCO Resources, Inc., as Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EXCO RESOURCES, INC. | ||||||
Date: July 18, 2014 | By: |
/s/ Mark F. Mulhern | ||||
Name: | Mark F. Mulhern | |||||
Title: | Executive Vice President and Chief Financial Officer |
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EXHIBIT INDEX
Exhibit No. |
Description | |
10.1 | Second Amendment to Amended and Restated Credit Agreement, dated as of July 14, 2014, by and among EXCO Resources, Inc., as Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. |
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