Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 82

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 82
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 financing activities and ability to make distributions to unitholders.

The operating and financial restrictions and covenants in the CAPL Credit Facility and any future financing agreements could adversely affect our ability to finance future operations or capital needs or to engage, expand or pursue our business activities. For example, our credit facilities may restrict our ability to:

•make distributions if any potential default or event of default occurs;

•incur additional indebtedness, including the issuance of certain preferred equity interests, or guarantee other indebtedness;

•grant liens or make certain negative pledges;

•make certain advances, loans or investments;

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•make any material change to the nature of our business, including mergers, consolidations, liquidations and dissolutions;

•make certain capital expenditures in excess of specified levels;

•acquire another company;

•enter into a sale-leaseback transaction or certain sales or leases of assets;

•enter into certain affiliate transactions; or

•make certain repurchases of equity interests.

Our CAPL Credit Facility limits our ability to pay distributions upon the occurrence of the following events, among others:

•failure to pay any principal when due or failure to pay any interest, fees or other amounts owed under our credit facility when due, subject to any applicable grace period;

•failure of any representation or warranty in our credit agreement to be true and correct, and the failure of any representation or warranty in any other agreement delivered in connection with our credit facility to be true and correct in any material respect;

•failure to perform or otherwise comply with the covenants in our credit facility or in other loan documents beyond the applicable notice and grace period;

•any default in the performance of any obligation or condition beyond the applicable grace period relating to any other indebtedness of more than certain thresholds;

•failure of the lenders to have a perfected first priority security interest in the collateral pledged by any loan party;

•the entry of one or more judgments in excess of certain thresholds, to the extent any payments pursuant to the judgment are not covered by insurance;

•a change in ownership or control of our General Partner or us;

•a violation of the Employee Retirement Income Security Act of 1974, or “ERISA;” and

•a bankruptcy or insolvency event involving us or any of our subsidiaries.

Our ability to comply with the covenants and restrictions contained in our credit facilities may be affected by events beyond our control, including prevailing economic, financial and industry conditions. If market or other economic conditions deteriorate, our ability to comply with these c