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Westmoreland Resource Partners, lenders enter 7th extension of default waiver

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Westmoreland Resource Partners, lenders enter 7th extension of default waiver

Westmoreland Resource Partners LP and its subsidiary Oxford Mining Co. LLC struck a seventh waiver and amendment to its financing agreement dated Dec. 13, 2014, which extended the waiver of any default until Oct. 5.

The waiver covers any actual or potential default resulting from Westmoreland Resource Partners and Oxford's failure to deliver an unqualified audit opinion connected to the audited financial statements for the fiscal year ended Dec. 31, 2017, according to a Sept. 7 SEC filing.

Westmoreland Resource Partners is the master limited partnership of Westmoreland Coal Co. The waiver is also good until Westmoreland Coal enters an insolvency proceeding, if such an event occurs before Oct. 5.

U.S. Bank National Association is acting as the administrative agent and collateral agent.