NRP Enters Material Agreement, New Financial Obligation on Feb 1

TL;DR

**NRP just took on a new financial obligation, watch for details on its impact.**

AI Summary

Natural Resource Partners LP (NRP) filed an 8-K on February 6, 2024, reporting an event that occurred on February 1, 2024, concerning the entry into a material definitive agreement and the creation of a direct financial obligation. This filing indicates that the company has undertaken a new financial commitment, which could impact its future cash flow and financial stability. Investors should pay attention to the details of this agreement as it could affect the company's ability to generate returns or its risk profile.

Why It Matters

This filing signals a new financial commitment for Natural Resource Partners LP, which could affect its balance sheet, future earnings, and overall financial health. Investors need to understand the nature and size of this obligation to assess the company's risk and potential for returns.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without specifying its nature or size, which introduces uncertainty about its potential impact on the company's financial health.

Analyst Insight

Investors should monitor future filings or company announcements for specific details regarding the material definitive agreement and the financial obligation to fully assess its impact on Natural Resource Partners LP's financial health and future prospects.

Key Players & Entities

• Natural Resource Partners LP (company) — the registrant filing the 8-K
• February 1, 2024 (date) — date of the earliest event reported
• February 6, 2024 (date) — date the 8-K was filed

Forward-Looking Statements

• NRP will provide more details about the material definitive agreement and financial obligation in a subsequent filing or earnings call. (Natural Resource Partners LP) — high confidence, target: Q1 2024 Earnings Call

FAQ

Key Financial Figures

• $30.0 million — commitment under the Credit Facility by $30.0 million from $155.0 million to $185.0 million.
• $155.0 million — e Credit Facility by $30.0 million from $155.0 million to $185.0 million. The increase in the
• $185.0 million — by $30.0 million from $155.0 million to $185.0 million. The increase in the total aggregate co
• $30.0 m — ty as a new lender with a commitment of $30.0 million, pursuant to that certain New Len

Filing Documents

• nrp20240201_8k.htm (8-K) — 29KB
• ex_621749.htm (EX-10.1) — 27KB
• nrp20230206_8kimg001.jpg (GRAPHIC) — 3KB
• 0001437749-24-003226.txt ( ) — 199KB
• nrp-20240201.xsd (EX-101.SCH) — 3KB
• nrp-20240201_def.xml (EX-101.DEF) — 11KB
• nrp-20240201_lab.xml (EX-101.LAB) — 15KB
• nrp-20240201_pre.xml (EX-101.PRE) — 11KB
• nrp20240201_8k_htm.xml (XML) — 3KB

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement The information under Item 2.03 below is incorporated herein by reference. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant On February 1, 2024, NRP (Operating) LLC ("OpCo") exercised its option under the Third Amended and Restated Credit Agreement, dated as of June 16, 2015 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "Credit Facility"), to increase the total aggregate commitment under the Credit Facility by $30.0 million from $155.0 million to $185.0 million. The increase in the total aggregate commitment is being made pursuant to an accordion feature of the Credit Facility. The Credit Facility otherwise continues to operate under its existing terms and conditions in all material respects. In connection with this increase, Summit Community Bank ("Summit") joined the lending group under the Credit Facility as a new lender with a commitment of $30.0 million, pursuant to that certain New Lender Agreement by and among OpCo, Zions Bancorporation, N.A. dba Amegy Bank, in its capacity as administrative agent under the Credit Facility, and Summit, dated as of February 1, 2024 (the "New Lender Agreement"). The New Lender Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K. The summary of the New Lender Agreement does not purport to be complete and is qualified in its entirety by reference to Exhibit 10.1.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 10.1 New Lender Agreement, dated as of February 1, 2024, by and among NRP (Operating) LLC, Zions Bancorporation, N.A. dba Amegy Bank, and Summit Community Bank. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NATURAL RESOURCE PARTNERS L.P. (Registrant) By: NRP (GP) LP its General Partner By: GP Natural Resource Partners LLC its General Partner Date: February 6, 2024 /s/ Philip T. Warman Philip T. Warman General Counsel 2

View Full Filing

View this 8-K filing on SEC EDGAR