Item 1.01 Entry into a Material Definitive Agreement.

On June 22, 2020, ProPetro Holding Corp. (the "Company"), ProPetro Services, Inc. (the "Borrower"), certain lenders party thereto (the "Required Lenders") and Barclays Bank PLC, as administrative agent (the "Agent"), entered into a Waiver (the "Waiver") with respect to that certain Credit Agreement, dated as of March 22, 2017 (as amended, supplemented or otherwise modified from time to time, the "Credit Agreement").

The Waiver, subject to certain terms and conditions described therein, waives certain requirements of the Cash Dominion Period, including, among others, waiving the mandatory prepayment requirement, certain cash management obligations, the weekly Borrowing Base reporting requirement and the cash collateralization requirement for letters of credit, to the extent the Borrower triggers a Cash Dominion Period by having Availability under the Credit Agreement of less than the greater of (i) 10.0% of the Maximum Credit and (ii) $22,500,000, for five (5) consecutive Business Days. The Waiver is effective for the period commencing June 20, 2020 and ending on June 19, 2021, so long as the Borrower has (i) no more than $4.0 million in aggregate face amount of letters of credit outstanding, (ii) no Borrowings outstanding, (iii) Availability of at least $8.0 million and (iv) no Default or Event of Default. The Borrower has 30 days to cure any breach of these conditions during the Waiver Period.

The foregoing description is not complete and is qualified in its entirety by reference to the full text of the Waiver, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.






(d)    Exhibits.



Exhibit
 Number                             Description of Exhibit
  10.1        Waiver to Credit Agreement, dated as of June 22, 2020, by and among
            ProPetro Holding Corp., ProPetro Services, Inc., Barclays Bank PLC, as
            the Agent, the Collateral Agent, a Letter of Credit Issuer and the
            Swingline Lender and each of the Lenders from time to time party
            thereto.




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