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KGS > SEC Filings for KGS > Form 8-K on 22-Oct-2009All Recent SEC Filings

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Form 8-K for QUICKSILVER GAS SERVICES LP


22-Oct-2009

Entry into a Material Definitive Agreement, Creation of a Direct Fina


Item 1.01. Entry into a Material Definitive Agreement.

Quicksilver Gas Services LP (the "Partnership") entered into a second amendment to its credit agreement (the "Second Amendment"), dated as of October 22, 2009, among the Partnership, as borrower, and Bank of America, N.A., JPMorgan Chase Bank, N.A., Compass Bank, BNP Paribas, Wells Fargo Bank, N.A., Comerica Bank, Capital One, National Association, The Royal Bank of Scotland plc, Barclays Bank PLC, Citibank, N.A. and Credit Suisse, Cayman Islands Branch, as lenders and/or agents as indicated on the signature pages of the Second Amendment. The Second Amendment amends the Partnership's five-year senior secured revolving credit agreement to, among other things, increase the lenders' loan commitments to $320 million and revise the pricing grid. The credit agreement contains events of default that permit, among other things, the acceleration of the loans, the termination of the credit agreement, and foreclosure on collateral.

The foregoing summary is not intended to be complete and is qualified in its entirety by the full text of the Second Amendment, which is attached as Exhibit 10.1 and is incorporated herein by reference. On October 22, 2009, the Partnership issued a press release announcing that it entered into the Second Amendment. A copy of the press release is attached as Exhibit 99.1 and the discussion of the Second Amendment therein is incorporated herein by reference.

Certain of the parties to the Second Amendment and their respective affiliates have, from time to time, performed, and may in the future perform, various financial, advisory, commercial banking and investment banking services for the Partnership and the Partnership's affiliates in the ordinary course of business for fees and expenses.



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 Second Amendment described above under Item 1.01 is incorporated herein by reference. A copy of the Second Amendment is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit    Description
 Number
  10.1       Second Amendment to Credit Agreement, dated as of October 22, 2009,
           among Quicksilver Gas Services LP and the lenders and agents identified
           therein.
  99.1       Press release dated October 22, 2009.


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