Item 1.01 Entry into a Material Definitive Agreement. DIP Credit Agreement OnJuly 1, 2020 ,Chesapeake Energy Corporation ("Chesapeake") entered into the Senior Secured Super-Priority Debtor-in-Possession Credit Agreement dated as ofJuly 1, 2020 (as amended, restated, modified and supplemented from time to time, the "DIP Credit Agreement"), by and among Chesapeake, as borrower, the guarantors party thereto (together with Chesapeake, the "Debtors"),MUFG Union Bank, N.A. , as the agent, and the several lenders from time to time party thereto, the terms of which were previously disclosed in Item 1.03 under the caption "DIP Credit Facility" of Chesapeake's Current Report on Form 8-K, filed with theSecurities and Exchange Commission onJune 29, 2020 and are incorporated by reference into this Item 1.01. The description of the material terms and conditions of the DIP Credit Agreement is a summary only, does not purport to be complete, and is qualified by reference to the full text of the DIP Credit Agreement incorporated by reference into this Current Report as Exhibit 10.1. Amendment to DIP Credit Agreement OnSeptember 15, 2020 , Chesapeake entered into the First Amendment (the "Amendment") to the DIP Credit Agreement. The Amendment, among other things, amends the maximum hedging covenant to allow the Debtors to enter into additional non-speculative hedge agreements based on forecasted production. The above description of the material terms and conditions of the Amendment is a summary only, does not purport to be complete, and is qualified by reference to the full text of the Amendment attached to this Current Report as Exhibit 10.2. Item 2.03 Creation of a Direct Financial Obligation or Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 regarding the DIP Credit Agreement is incorporated by reference into this Item 2.03. Item 9.01 Exhibits. (d) Exhibit No. Document Description 10.1 Senior Secured Super-Priority Debtor-in-Possession Credit Agreement, datedJuly 1, 2020 , by and amongChesapeake Energy Corporation , as borrower, the guarantors party thereto,MUFG Union Bank, N.A. , as the agent, and the several lenders from time to time party thereto (incorporated by reference to Exhibit A of Exhibit 10.1 toChesapeake Energy Corporation's Current Report on Form 8-K (File No. 001-13726) filed onJune 29, 2020 ). 10.2 First Amendment to Senior Secured Super-Priority Debtor-in-Possession Credit Agreement, datedSeptember 15, 2020 , by and amongChesapeake Energy Corporation , as borrower, the guarantors party thereto,MUFG Union Bank, N.A. , as the agent, and the several lenders from time to time party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and contained in Exhibit 101).
--------------------------------------------------------------------------------
© Edgar Online, source