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AMERICAN EAGLE ENERGY CORP FILES (8-K) Disclosing Entry into a Material Definitive Agreement

July 25, 2014



Item 1.01 Entry into a Material Definitive Agreement.

Effective as of July 21, 2014, we entered into a Third Amendment to the Credit Agreement that we had entered on August 19, 2013, with certain other parties (our "Lenders') and Morgan Stanley Capital Group Inc., as the administrative agent for the Lenders (the "Administrative Agent"). We amended and restated the definition of "Six Month Roll Forward Amortization Amount" in Section 1.01 to mean (a) for the Six Month Roll Forward Calculation Date occurring June 30, 2014, the Six Month Roll Forward Amount divided by five and (b) for each other Six Month Roll Forward Calculation Date, the Six Month Roll Forward Amount divided by six. We also added a new Section 5.17 to the Credit Agreement to provide that, on the 15th day and the last business day of each month beginning at the end of this July, we or our previously approved financial advisors agreed to deliver to the Administrative Agent and the Lenders certain supplemental financial reports. In connection with this amendment, we agreed to pay a two percent fee of our then-owing balance and our Lenders agreed to waive any event of default that, as of June 30, 2014, may exist under Section 6.18 of the original Credit Agreement.


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Source: Edgar Glimpses


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