Item 1.01. Entry into a Material Definitive Agreement

On May 7, 2020, Global Partners LP (the "Partnership") and certain of its subsidiaries entered into the Fourth Amendment to Third Amended and Restated Credit Agreement (the "Fourth Amendment"), which further amends the Third Amended and Restated Credit Agreement dated April 25, 2017 (as amended, the "Credit Agreement"). Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Credit Agreement.

The Fourth Amendment amends certain terms, provisions and covenants of the Credit Agreement, including, without limitation:

(i) increases by 0.125% the applicable rate under the working capital facility


    for borrowings of base rate loans, Eurocurrency rate loans and cost of funds
    rate loans and for issuances of letters of credit;

(ii) adds two pricing levels under the revolving credit facility for borrowings


     of base rate loans, Eurocurrency rate loans and cost of funds rate loans and
     for issuances of letters of credit;

(iii) adds a Eurocurrency rate floor of 0.75% and a cost of funds rate floor of

0.50%;

(iv) for the four (4) quarters commencing with the quarter ended June 30, 2020


     (A) increases to Combined Total Leverage Ratio covenant levels and (B) a
     reduction to the Combined Interest Coverage Ratio covenant levels; and

(v) reduces the aggregate commitments under the facilities by 10% with the


    commitments under the working capital facility reduced to $770.0 million from
    $850.0 million and the commitments under the revolving credit facility
    reduced to $400.0 million from $450.0 million.

The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Fourth Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

All other material terms of the Credit Agreement remain substantially the same as disclosed in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2019.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an


           Off-Balance Sheet Arrangement of a Registrant

The description of the Fourth Amendment to the Credit Agreement under Item 1.01 above is incorporated in this Item 2.03 by reference.



Item 9.01.             Financial Statements and Exhibits

  (d)             Exhibits

Exhibit                                Description
  No.

  10.1     Fourth Amendment to Third Amended and Restated Credit Agreement, dated
         as of May 7, 2020.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses