USD Partners extends forbearance under credit agreement to Nov 17, 2023

USD Partners LP

Second Waiver Extension extends forbearance from Nov 3 to Nov 17, 2023.
Lenders also temporarily waive non-payment of amounts due on the maturity date through Nov 17.
Partnership previously disclosed defaults; this is the third forbearance/waiver agreement since August 2023.
Short-term extension indicates ongoing liquidity challenges and negotiations with lenders.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

USD Partners LP amended Second Waiver Extension Agreement with Lenders and Bank of Montreal, as Administrative Agent (effective 2023-11-01).

Action: amendment
Agreement: credit facility
Counterparty: Lenders and Bank of Montreal, as Administrative Agent
Effective: 2023-11-01

Exact text from the filing

On November 1, 2023, USD Partners LP (the “Partnership”) entered into an agreement (the “Second Waiver Extension Agreement”) with (i) all the lenders (the “Lenders”) under the secured Credit Agreement (as amended from time to time, the “Credit Agreement”) among the Partnership, USD Terminals Canada ULC, an indirect, wholly-owned subsidiary of the Partnership (together with the Partnership, the “Borrowers”), the subsidiary guarantors party thereto, the Lenders and Bank of Montreal, as administrative agent (the “Administrative Agent”), and (ii) the Administrative Agent.

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USD Partners LP filing history →

Source: SEC EDGAR

accession 0001610682-23-000039

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