Business Context and Reporting Period
Company: MARTIN MIDSTREAM PARTNERS L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: September 24, 2008
Event: Entry into a Material Definitive Agreement (Third Amendment to Credit Agreement).
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt balances, or liquidity metrics. The document solely addresses a contractual amendment to the company's credit facility.
Material Changes
On September 24, 2008, the Partnership entered into a Third Amendment to its Second Amended and Restated Credit Agreement. The amendment modifies the definition of "Change of Control" as follows:
- Removal of Requirement: Deleted the requirement that Martin Resource Management Corporation ("Martin Resource") must directly or indirectly own 33 1/3% of the limited partnership interests.
- New Threshold: Established that a "Change of Control" occurs if a person or group (other than Martin Resource) acquires 51% or more of the limited partnership interests.
- Other Terms: All other material terms of the Credit Agreement remain unchanged.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. No specific risks or contingencies are discussed beyond the structural change to the credit agreement's control provisions. The filing notes that the attached exhibits are "furnished" and not "filed" for purposes of the Exchange Act.
Investor Verification Checklist
- Verify the full text of the Third Amendment (Exhibit 10.1) to confirm the exact legal language regarding the "Change of Control" definition.
- Review prior filings to understand the original "Change of Control" thresholds and the rationale for the amendment.
- Confirm the current ownership structure of Martin Resource Management Corporation relative to the Partnership.
- Check for any subsequent filings that may detail the impact of this amendment on the Partnership's capital structure or governance.