Item 1.01 - Entry into a Material Definitive Agreement
As previously announced, on
On
The DIP Credit Agreement contains events of default customary to debtor-in-possession financings, the occurrence of which could result in the acceleration of the Debtors' obligation to repay the outstanding indebtedness under the DIP Credit Agreement. The Debtors' obligations under the DIP Credit Agreement will be secured by a security interest in, and lien on, substantially all property (whether tangible, intangible, real, personal or mixed) of the Debtors and will be guaranteed by all of the Company's subsidiaries.
The foregoing description of the DIP Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the DIP Credit Agreement, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
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 above is incorporated by reference into this Item 2.03.
Item 3.03 - Material Modification to Rights of Security Holders
On
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ly with regarding transfers of the Company's common stock (the "Procedures"). The Procedures restrict certain transactions involving, and require notices of the holdings of and proposed transactions by, any person or entity that is or, as a result of such a transaction, would become a Substantial Shareholder (as defined below) of the Company's common stock. For purposes of the Procedures, a "Substantial Shareholder" is any entity or individual person that has beneficial ownership (as determined in accordance with applicable rules under Section 382 of the Internal Revenue Code of 1986, as amended), after taking into account certain options or other similar rights to acquire beneficial ownership of common stock, of at least 4.5% of all issued and outstanding shares of the Company's common stock as of the Petition Date.
The terms and conditions of the Procedures were immediately effective and
enforceable upon entry of the Order by the
The foregoing description of the Order does not purport to be complete and is qualified in its entirety by reference to the full text of the Order, which is attached hereto as Exhibit 4.1 and incorporated by reference herein.
Item 9.01 - Financial Statements and Exhibits
(d) Exhibits.
The following exhibits are filed in accordance with the provisions of Item 601 of Regulation S-K: Exhibit Number Description 4.1* Final Order (I) Approving Notification and Hearing Procedures for Certain Transfers of and Declarations of Worthlessness with Respect to Common Stock, and (II) Granting Related Relief [Docket No. 62]. 10.1*† Senior Secured Super Priority Debtor-in-Possession Credit Agreement, dated as ofAugust 4, 2020 , by and amongDenbury Resources Inc. , the subsidiary guarantors party thereto, the lenders party thereto andJPMorgan Chase Bank, N.A . 104 The cover page has been formatted in Inline XBRL. * Included herewith. † Certain schedules and similar attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K and will be provided to theSEC upon request. 3
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