CNX RESOURCES CORP: Signing of a Material Definitive Agreement, Financial Statements and Supporting Documents (Form 8-K)
Item 1.01 Conclusion of a Material Definitive Agreement.
The Notes and Guarantees were issued under a Deed of Trust (the “Deed of Trust”), dated
The Notes rank equally in right of payment with all existing and future senior debts of the Issuer and have priority over any subordinated debt that the Issuer may contract. The Guarantees rank equally in the right of payment of all existing and future senior debts of the Guarantors.
On or after
Year Percentage 2025 102.375 % 2026 101.188 % 2027 and thereafter 100.000 %
Anytime or from time to time before
The Deed contains restrictive covenants which will limit the ability of the Issuer and the Guarantors to (i) contract, assume or guarantee additional indebtedness or issue preferred shares; (ii) create privileges to guarantee indebtedness; (iii) make distributions on, purchase or redeem interests in the Issuer or purchase or redeem subordinated debt; (iv) make investments; (v) restrict dividends, loans or other transfers of assets from restricted subsidiaries of the Issuer; (vi) consolidate or merge with or in, or sell substantially all of its properties to another person;
(vii) sell or otherwise dispose of assets, including interests in subsidiaries; (viii) enter into transactions with affiliated companies; and (ix) create unrestricted subsidiaries. These commitments are subject to important exceptions and reservations. If the Notes obtain an investment grade rating of one of the
The Indenture also contains customary events of default, including (i) a 30-day default on payment at maturity of interest on the Notes; (ii) non-payment on maturity of the principal or premium, as the case may be, of the Notes at maturity, on redemption or otherwise; (iii) defaults on commitments, (iv) cross defaults on certain debts and (v) certain cases of bankruptcy or insolvency with regard to the Issuer or the Guarantors. If an Event of Default occurs and continues, the Trustee or holders of at least 25% of the aggregate principal amount of the Notes then outstanding may declare that all Notes are due and payable immediately.
If the Issuer undergoes certain types of changes of control, the holders of Notes will be entitled to require the Issuer to redeem all or part (equal to
The foregoing description of the Deed does not purport to be complete and is qualified in its entirety by reference to the Deed, a copy of which is filed as Exhibit 4.1 of this current Report on Form 8-K and is incorporated herein. by reference.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits Exhibit Number Description of Exhibit 4.1 Indenture, dated as of
September 22, 2021, among CNX Midstream Partners LP, the guarantors party thereto and UMB Bank, N.A., as Trustee. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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