Item 1.01 Entry into a Material Definitive Agreement.
On
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)
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 ofJune 22, 2020 , by and amongProPetro 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. 2
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