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EXCO RESOURCES 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

July 18, 2014



Item 1.01 Entry into a Material Definitive Agreement.

On July 14, 2014, EXCO Resources, Inc. ("EXCO") entered into that certain Second Amendment to its Amended and Restated Credit Agreement, dated as of July 14, 2014, by and among EXCO, as borrower, certain of its subsidiaries, as guarantors, JPMorgan Chase Bank, N.A. ("JPMorgan"), as administrative agent, and the lenders party thereto (the "Second Amendment").

The Second Amendment amended EXCO's existing Amended and Restated Credit Agreement, dated as of July 31, 2013, as amended (the "Amended and Restated Credit Agreement"), to, among other things, amend certain definitions, representations, warranties and covenants and add certain non-financial covenants, including increasing the amount of permitted cash dividends to the holders of EXCO's common stock from $50.0 million to $75.0 million. Under the Amended and Restated Credit Agreement (as amended by the Second Amendment), EXCO may, subject to certain conditions, declare and pay cash dividends on its common stock in an amount not to exceed $75.0 million in any period of four consecutive fiscal quarters.

A description of the material terms of the Amended and Restated Credit Agreement can be found in EXCO's Current Reports on Form 8-K filed on July 31, 2013 and August 19, 2013, and a description of the material terms of the First Amendment to the Amended and Restated Credit Agreement can be found in EXCO's Current Report on Form 8-K dated August 28, 2013, which descriptions are incorporated by reference. The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the Second Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is 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 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

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Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. Exhibit No. Description 10.1 Second Amendment to Amended and Restated Credit Agreement, dated as of July 14, 2014, by and among EXCO Resources, Inc., as Borrower, certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. 3



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Source: Edgar Glimpses


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