Actionable news
0
All posts from Actionable news
Actionable news in EMES: EMERGE ENERGY SERVICES LP,

Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under An

On April20, 2016, Emerge Energy Services LP (the Partnership) notified PNC Bank, National Association (the Agent) of an event of default under the Amended and Restated Revolving Credit and Security Agreement, dated July27, 2014, as amended (the Credit Agreement), by and among the Partnership, certain of the Partnerships subsidiaries, the Agent and the other lenders party thereto (the Lenders), as a result of the Partnerships failure to maintain compliance with the financial covenant requiring the Partnership to maintain $25 million of excess availability under its revolving credit facility.

The Partnership, Agent and Lenders are currently in advanced discussions to obtain a waiver regarding this event of default and to otherwise arrive at a long-term solution to the Partnerships liquidity requirements, including the reduction of outstanding borrowings under its revolving credit facility through the possible sale of its fuels business, as previously disclosed. The Partnership expects that it will be able to continue to use the Credit Agreement to fund operations and that it will achieve an expeditious solution. However, the Partnership can give no assurance as to the success of any potential alternative solution, or that the Partnerships obligations under the Credit Agreement will not be accelerated due to the event of default.

2

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.

Emerge Energy Services LP

By:

Emerge Energy Services GP LLC,

its general partner

By:

/s/ Deborah Deibert

Name:

Deborah Deibert

Title:

Chief Financial Officer

3

makes a similar move, sign up!

Other recent filings from the company include the following:

Departure of Directors or Certain - April 15, 2016
Confidential treatment order - April 13, 2016