BRIGHAM MINERALS, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance…

Posted: June 9, 2022 at 4:33 am

Item 1.01 Entry into a Material Definitive Agreement.On June 3, 2022, Brigham Resources, LLC ("Brigham Resources"), a wholly-ownedsubsidiary of the registrant, as borrower, entered into the Fifth Amendment (the"Fifth Amendment") to the Credit Agreement among Brigham Resources, thefinancial institutions party thereto, and Wells Fargo Bank, N.A., asadministrative agent (the "Credit Agreement"). The Fifth Amendment, among otherthings, (1) evidenced an increase of the borrowing base and elected commitmentsunder the Credit Agreement from $230.0 million to $290.0 million, respectively,(2) effected a transition of the benchmark interest rate from the Londoninterbank offered rate ("LIBOR") to the secured overnight financing rate("SOFR") as administered by the Federal Reserve Bank of New York, by replacingreserve-adjusted LIBOR with term SOFR for one, three or six month interestperiods, plus a fixed credit spread adjustment of 0.10% irrespective of electedtenor (subject to a floor of 0.00%), and (3) grandfathered all outstanding LIBORborrowings at original LIBOR benchmark pricing through expiry of the applicableinterest periods therefor.

The foregoing description of the Fifth Amendment is a summary only and isqualified in its entirety by reference to the Fifth Amendment, a copy of whichis attached as Exhibit 10.1 to this Current Report on Form 8-K and isincorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

of June 3, 2022, by and among

financial institutions party thereto,

agent

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BRIGHAM MINERALS, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance...

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