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EX-10.1 - EX-10.1 - Intrepid Potash, Inc.a15-18707_1ex10d1.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): August 28, 2015

 

Intrepid Potash, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-34025

 

26-1501877

(State or other jurisdiction
of incorporation)

 

(Commission
file number)

 

(IRS employer
identification no.)

 

707 17th Street, Suite 4200

Denver, Colorado 80202

(Address of principal executive offices, including zip code)

 

(303) 296-3006

(Registrant’s telephone number, including area code)

 

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):

 

o                 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o                 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o                 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 210.14d-2(b))

 

o                 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 1.01.                       Entry into a Material Definitive Agreement.

 

On August 28, 2015, Intrepid Potash, Inc. (“Intrepid,” “we,” “us,” or “our”) entered into an Amendment No. 2 to Credit Agreement (the “Amendment”) with each of the lenders named therein and U.S. Bank National Association, as administrative agent (“U.S. Bank”).  The Amendment amends the Credit Agreement, dated as of August 3, 2011, and amended as of August 5, 2013 (together, the “Credit Facility”), by and among Intrepid, each of the lenders named therein, and U.S. Bank.

 

The Amendment extends the maturity date of the Credit Facility by two years to August 28, 2020.  The Credit Facility, as amended, continues to have loan commitments by the lenders of $250 million, consisting of a revolving credit facility, a swing line sub-facility of up to $25 million, and a letter of credit sub-facility of up to $25 million.  We do not currently have any borrowings under the Credit Facility.

 

The description set forth above is qualified in its entirety by the Amendment, a copy of which is filed as Exhibit 10.1 to this report and incorporated by reference into this Item 1.01.

 

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 report is incorporated by reference into this Item 2.03.

 

Item 9.01.                       Financial Statements and Exhibits.

 

(d)         Exhibits

 

Exhibit No.

 

Description

 

 

 

10.1

 

Amendment No. 2 to Credit Agreement, dated as of August 28, 2015, by and among, Intrepid Potash, Inc., each of the lenders named therein, and U.S. Bank National Association, as Administrative Agent

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

INTREPID POTASH, INC.

 

 

 

 

Dated: August 28, 2015

By:

/s/ Margaret E. McCandless

 

 

Margaret E. McCandless

 

 

Vice President, General Counsel and Secretary

 

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EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

10.1

 

Amendment No. 2 to Credit Agreement, dated as of August 28, 2015, by and among, Intrepid Potash, Inc., each of the lenders named therein, and U.S. Bank National Association, as Administrative Agent

 

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