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BONANZA CREEK ENERGY, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

May 20, 2014



Item 1.01 Entry Into a Material Definitive Agreement.

On May 14, 2014, the Company entered into Amendment No. 9 and Agreement (the "Amendment") with KeyBank National Association, as administrative agent (the "Administrative Agent") and the issuing lender and the other lenders party to the Credit Agreement (defined below). The Amendment further amends that certain Credit Agreement, dated as of March 29, 2011, by and among the Company, the Administrative Agent and the lenders from time to time party thereto (including all previous amendments thereto, the "Credit Agreement") to, among other things, (i) increase potential borrowings under the Credit Agreement from $600 million to $1 billion, (ii) increase the borrowing base under the Credit Agreement from $450 million to $525 million and (iii) reduce the effective interest rate on future borrowings by 0.25%. The Company elected to limit bank commitments to $400 million while reserving the option to access, at the Company's request, the full $525 million prior to the next semi-annual redetermination date.

All other material terms of the Credit Agreement remain unchanged. The foregoing description of the Amendment is a summary only and is qualified in its entirety by reference to the complete text of the Amendment, which is attached hereto as Exhibit 10.1.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant.

The disclosure set forth in Item 1.01 is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits 10.1 Amendment No. 9, dated as of May 14, 2014, to the Credit



Agreement, among Bonanza Creek Energy, Inc., the Guarantors, KeyBank National Association, as Administrative Agent and as Issuing Lender, and the lenders party thereto.

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Source: Edgar Glimpses