Current Report Filing (8-k)
15 February 2017 - 11:09PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: February 14, 2017
(Date of earliest event reported)
FOUR CORNERS
PROPERTY TRUST, INC.
(Exact name of registrant as specified in its charter)
Commission File Number:
001-37538
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Maryland
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47-4456296
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(State or other jurisdiction
of incorporation)
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(IRS Employer
Identification No.)
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591 Redwood Highway, Suite 1150, Mill Valley, California 94941
(Address of principal executive offices, including zip code)
(415)
965-8030
(Registrants telephone number, including area code)
Not Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Item 1.01 Entry into a Material Definitive Agreement.
On February 14, 2017, Four Corners Operating Partnership, LP (the Borrower), a subsidiary of Four Corners Property Trust, Inc.
(the Company), the Company and certain of its subsidiaries, as guarantors, JPMorgan Chase Bank, N.A., as administrative agent (Administrative Agent) and the lenders party thereto (the Lenders) entered into a
second amendment (the Loan Agreement Amendment) to their existing Revolving Credit and Term Loan Agreement, dated November 9, 2015 (as amended by that certain Omnibus Agreement and Waiver to the Loan Agreement, dated August 2,
2016, the Loan Agreement), for the purpose of, among other things, permitting an incurrence of additional unsecured debt in an aggregate principal amount of at least $50.0 million. The Loan Agreement Amendment further provides that,
upon the incurrence of such additional unsecured debt, (A) all pledges of equity interests that secure the Loan Agreement, and all subsidiary guarantees of the Loan Agreement, will be released and (B) the financial covenant requirements in
relation to maximum leverage and minimum debt service coverage will be adjusted in the manner set forth in the Loan Agreement Amendment. In addition, the Loan Agreement Amendment increases the minimum Consolidated Tangible Net Worth requirement from
$845,744,000 to $868,899,000. The Loan Agreement Amendment also contains customary representations and warranties by the Borrower.
The
foregoing description of the Loan Agreement Amendment is qualified in its entirety by the complete text of the Loan Agreement Amendment, which is included as Exhibit 10.1 to this Current Report on Form
8-K
and
incorporated by reference herein.
Item 9.01
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Financial Statements and Exhibits
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Exhibit
No.
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Description
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10.1
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Amendment No. 2, dated as of February 14, 2017, among Four Corners Operating Partnership and the Guarantors party thereto, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
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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 hereunto duly authorized.
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FOUR CORNERS PROPERTY TRUST, INC.
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By:
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/s/ James L. Brat
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James L. Brat
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General Counsel and Secretary
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Date: February 14, 2017
EXHIBIT INDEX
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Exhibit
No.
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Description
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10.1
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Amendment No. 2, dated as of February 14, 2017, among Four Corners Operating Partnership and the Guarantors party thereto, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
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