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Quotes & Info
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| DGAS > SEC Filings for DGAS > Form 8-K on 30-Jun-2009 | All Recent SEC Filings |
30-Jun-2009
Entry into a Material Definitive Agreement, Creation of a Direct Financi
Effective June 30, 2009, Delta Natural Gas Company, Inc. entered into a Modification Agreement with Branch Banking and Trust Company which amends the Company's bank line of credit under the original Promissory Note and Addendum dated as of October 31, 2002 and subsequently modified as of October 31, 2003, October 31, 2004, August 12, 2005 and August 31, 2007.
Pursuant to the June 30, 2009 Modification Agreement, the scheduled termination date of the bank line of credit was extended to June 30, 2011. The aggregate principal amount the Company may borrow under the bank line of credit remains at $40,000,000. The interest on this line is determined monthly at the London Interbank Offered Rate plus 1.50% on the used bank line of credit. The annual cost of the unused bank line of credit is .125%.
Except as provided in the Modification Agreement, all of the terms of the
Promissory Note and Addendum remain in full force and effect. The foregoing
description of the Modification Agreement is a summary and is qualified in its
entirety by reference to the Modification Agreement attached hereto as Exhibit
10(a), which is incorporated herein by reference to this Item 1.01.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
10(a) Modification Agreement dated June 30, 2009 extending
to June 30, 2011 the Promissory Note and Loan
Agreement between the Registrant and Branch Banking
and Trust Company.
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