Item 1.01 Entry into a Material Definitive Agreement.
On
The Ninth Amendment, among other things, modified the terms of the Credit
Agreement to (i) increase the Aggregate Elected Borrowing Base Commitments (as
defined in the Credit Agreement) from
The Administrative Agent, the other lenders party to the Credit Agreement, and their respective affiliates have from time to time performed, and may in the future perform, various financial advisory, commercial banking and investment banking services for the Company and its affiliates in the ordinary course of business for which they have received and would receive customary compensation. In addition, in the ordinary course of their various business activities, such parties and their respective affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers, and such investments and securities activities may involve the Company's securities and/or instruments.
The foregoing description of the Ninth Amendment is qualified in its entirety by reference to the Ninth Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
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 under Item 1.01 above is hereby incorporated into this Item 2.03 by reference.
Item 7.01 Regulation FD Disclosure.
A copy of the Company's new release announcing the Ninth Amendment to the Credit Agreement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference.
The information in this Item 7.01 (including the exhibit) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 10.1 Ninth Amendment to Credit Agreement, datedApril 27, 2020 , amongParsley Energy, LLC , as borrower,Parsley Energy, Inc. , each of the guarantors party thereto,Wells Fargo Bank, National Association , as administrative agent,JPMorgan Chase Bank, N.A . andBMO Harris Bank, N.A ., as syndication agents,Citibank, N.A ., Credit Suisse AG,Cayman Islands Branch, Royal Bank ofCanada andU.S. Bank National Association , as documentation agents, and the lenders party thereto. 99.1 News Release, datedApril 28, 2020 , titled "Parsley Energy Announces Increase To Commitment Amount, Reaffirmed Borrowing Base, and Extension of Maturity Date For Its Revolving Credit Facility." 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
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