Hi-Crush Inc. entered into a new revolving credit agreement with JPMorgan Chase, N.A., as administrative agent and collateral agent, and the other lenders party thereto. The Revolving Credit Facility will be available to the company and provides for revolving loans and letters of credit in an aggregate amount of up to $25.0 million, subject to borrowing base capacity. Letters of credit will be available up to the lesser of (a) $25.0 million and (b) the aggregate unused amount of commitments under the Revolving Credit Facility then in effect. The Revolving Credit Facility will mature on August 1, 2023. The obligations under the Revolving Credit Facility will be guaranteed by all of the Company’s direct and indirect subsidiaries (subject to certain permitted exceptions). The Revolving Credit Facility will be secured by a lien on substantially all of the Company’s and the guarantors’ assets. Borrowings and letters of credit under the Revolving Credit Facility will be limited by borrowing base calculations. Borrowings will bear interest at a floating rate, which can be either an adjusted Eurodollar rate plus an applicable margin or, at the option, a base rate plus an applicable margin. The Revolving Credit Facility will contain customary covenants, including, but not limited to, restrictions on ability and that of subsidiaries to merge and consolidate with other companies, incur indebtedness, grant liens or security interests on assets, make acquisitions, loans, advances or investments, pay dividends, sell or otherwise transfer assets, or enter into transactions with affiliates. The Revolving Credit Facility will provide that, upon the occurrence of certain events of default, the obligations thereunder may be accelerated and the lending commitments terminated. Such events of default include payment defaults to the lenders thereunder, material inaccuracies of representations and warranties, covenant defaults, cross-defaults to other material indebtedness, voluntary and involuntary bankruptcy proceedings, material money judgments, certain change of control events and other customary events of default.