Item 1.01. Entry into a Material Definitive Agreement
On March 9, 2022, Global Partners LP (the "Partnership"), as guarantor, and
certain of its subsidiaries, as borrowers, entered into the Sixth Amendment to
Third Amended and Restated Credit Agreement (the "Sixth Amendment"), which
further amends the Third Amended and Restated Credit Agreement dated April 25,
2017 (as amended, the "Credit Agreement"). The Sixth Amendment amends certain
terms and provisions of the Credit Agreement to provide for $200.0 million of WC
Interim Commitments (the "WC Interim Tranche"). With the addition of the WC
Interim Tranche, the total Aggregate Commitments under the Credit Agreement are
increased to $1.55 billion. The terms and conditions of the WC Interim
Commitments and any WC Interim Loans made pursuant thereto are substantially the
same as the existing WC Commitments and WC Loans, except that the WC Interim
Maturity Date is June 9, 2022 and no WC Interim Loans are permitted to be
Eurocurrency Rate Loans. The WC Interim Obligations are secured by substantially
all of the assets of the Loan Parties other than Real Estate. Capitalized terms
used but not otherwise defined herein shall have the meanings respectively
ascribed to such terms in the Credit Agreement.
The foregoing description of the Sixth Agreement does not purport to be complete
and is qualified in its entirety by reference to the Sixth Agreement. A copy of
the Sixth Agreement is attached hereto as Exhibit 10.1 and is incorporated
herein by reference.
All other material terms of the Credit Agreement remain the same as disclosed in
the Partnership's Annual Report on Form 10-K for the fiscal year ended
December 31, 2021.
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 Sixth Amendment under Item 1.01 above is incorporated
into this Item 2.03 by reference.
Item 9.01 Financial Statements and Exhibits.
10.1 Sixth Amendment to Third Amended and Restated Credit Agreement, dated
March 9, 2022.
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