This excerpt taken from the TCLP 8-K filed Apr 6, 2006.
Amendment to JPMorgan Credit Agreement
On March 31, 2006, the Partnership entered into an amendment to its credit agreement with JPMorgan Chase Bank, National Association. This amendment permits the Partnership to incur up to $310 million of debt under the credit agreement described above as long as this debt
and the debt under the JPMorgan credit facility have the same seniority with respect to right of payment. In addition, this amendment modified the maximum leverage ratio permitted under this credit facility to provide that, as at the last day of the first, second and third quarters of 2006, the Company shall not permit its total debt to be greater than the lesser of (i) 56.5% of capitalization or (ii) 5 times consolidated adjusted EBITDA for the four quarter period then ended. Commencing on the last day of the fourth quarter of 2006, the maximum leverage ratio reverts to the existing ratio, which is the lesser of (i) 35% of capitalization or (ii) 2.5 times consolidated adjusted EBITDA.
The agents and certain lenders under the credit facilities described above and their affiliates have in the past provided, and may in the future provide, investment banking, underwriting, lending, commercial banking and other advisory services to the Partnership. These parties have received, and may in the future receive, customary compensation from the Partnership for such services.