Company: PAGP
Filing Date: 2025-12-03
Form Type: 8-K
Source: 0001104659-25-118148
Chunk: 2

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-12-03
Form: 8-K
Item: Item 2.03
Chunk 2
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 has occurred and is continuing or, immediately after giving effect thereto, would result therefrom.

The financial covenant in the Term Loan Agreement,
tested on a quarterly basis, limits Consolidated Funded Indebtedness to adjusted Consolidated EBITDA to no greater than 5.00 to 1.00,
which increases to 5.50 to 1.00 during an Acquisition Period.

The foregoing description of the Term Loan Agreement
does not purport to be complete and is qualified in its entirety by reference to the full text of the Term Loan Agreement. A copy of the
Term Loan Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Any
defined terms used in this Item 2.03 but not defined herein shall have the definitions given to them in the Term Loan Agreement.