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4-Traders Homepage  >  Shares  >  Nyse  >  Rice Energy Inc    RICE   US7627601062

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RICE ENERGY : 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 (form 8-K)

07/21/2015 | 04:09pm US/Eastern

Item 1.01 Entry into a Material Definitive Agreement

On July 17, 2015, Rice Energy Inc. (the "Company") entered into the Fifth Amendment to its Third Amended and Restated Credit Agreement and Amendment to Limited Consent and Second Amendment ("Fifth Amendment") to its Third Amended and Restated Credit Agreement, among the Company, Wells Fargo Bank, N.A., as administrative agent, and the lenders and other parties thereto (the "Amended Credit Agreement").

The Amendment amends the Amended Credit Agreement to expand the Company's hedging capabilities with respect to physical sales contracts. The Fifth Amendment, among other things, (i) revised the aggregate notional volume limitations for the Company's hedging arrangements contained in the Amended Credit Agreement for the five year period following the date of the Amendment, (ii) provided a limited consent by the lenders to hedge additional volumes of natural gas with respect to calendar months of 2015 in which the Company is not calculated to exceed the notional volume limitations for such month and (iii) allowed the Company to enter into certain sales contracts with its lenders and their affiliates that are secured by the collateral under the Amended Credit Agreement, thereby reducing the Company's need to post letters of credit with respect to certain firm transportation obligations.

The foregoing description of the Fifth Amendment is a summary only and is qualified in its entirety by reference to the complete text of the Fifth Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

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 under Item 1.01 concerning the Fourth Amendment is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.



Exhibit
  No.                                     Description

10.1         Fifth Amendment to its Third Amended and Restated Credit Agreement and
             Amendment to Limited Consent and Second Amendment, dated as of July
             17, 2015, among Rice Energy Inc., as borrower, Wells Fargo Bank, N.A.,
             as administrative agent and the lenders and other parties thereto.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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