Global Partners LP filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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| Item 1.01. | Entry into a Material Definitive Agreement |
On March 20, 2025, Global Partners LP (the “Partnership”), as guarantor, and certain of its subsidiaries, as borrowers, entered into the Eleventh Amendment to Third Amended and Restated Credit Agreement and Second Amendment to Third Amended and Restated Security Agreement (the “Eleventh Amendment”), which further amends the Third Amended and Restated Credit Agreement dated April 25, 2017 (as amended prior to the Eleventh Amendment, the “Existing Credit Agreement” and as amended through the Eleventh Amendment, the “Credit Agreement”) and the Third Amended and Restated Security Agreement dated April 25, 2017 (as amended prior to the Eleventh Amendment, the “Existing Security Agreement” and as amended through the Eleventh Amendment, the “Security Agreement”). The Eleventh Amendment amends certain terms and provisions of the Existing Credit Agreement to, among other things, (i) extend the maturity date of the credit facility from May 2, 2026 to March 20, 2028, (ii) remove convenience store and related retail fuel facility properties and certain adjacent Real Estate that is owned or leased by a Loan Party from the Collateral while retaining a negative pledge in favor of the Lenders, (iii) modify the Aggregate WC Commitment (as defined in the Credit Agreement) to $1.0 billion and the Aggregate Revolver Commitment (as defined in the Credit Agreement) to $500.0 million, and (iv) assign all or a portion of certain lenders’ Loans and Commitments under the Credit Agreement to certain other new and/or existing Lenders that wish to assume such Loans and Commitments. Capitalized terms used but not otherwise defined herein shall have the meanings respectively ascribed to such terms in the Credit Agreement.
The foregoing description of the Eleventh Amendment does not purport to be complete and is qualified in its entirety by reference to the Eleventh Amendment. A copy of the Eleventh Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
All other material terms of the Credit Agreement remain the same as disclosed in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2024.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The description of the Eleventh Amendment under Item 1.01 above is incorporated into this Item 2.03 by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number |
Description | |
| 10.1# | Eleventh Amendment to Third Amended and Restated Credit Agreement and Second Amendment to Third Amended and Restated Security Agreement, dated March 20, 2025. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
# Schedules and similar attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Partnership undertakes to furnish supplementally copies of any of the omitted schedules and exhibits upon request by the U.S. Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| GLOBAL PARTNERS LP |
| By: | Global GP LLC its general partner |
| Dated: March 21, 2025 | By: | /s/ Sean T. Geary |
| Sean T. Geary | ||
| Chief Legal Officer and Secretary |