CNX Resources Corp 8-K, filed Sep 26, 2022

CNX Resources Corp (CNX)

8-K 2022-09-26 For: 2022-09-26

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Added on April 11, 2026

About this 8-K

CNX Resources Corp filed this 8-K on September 26, 2022.

Items reported

Item 1.01: Entered into a material agreement
Item 2.03: New debt or off-balance-sheet obligation
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock ($.01 par value)	CNX	New York Stock Exchange
Preferred Share Purchase Rights	—	New York Stock Exchange


Year	Percentage
2026		103.688	%
2027		101.844	%
2028 and thereafter		100.000	%


Exhibit Number		Description of the Exhibit

4.1		Indenture, dated as of September 26, 2022, among CNX Resources Corporation, the subsidiary guarantors party thereto and UMB Bank, N.A., as Trustee.

99.1		Press Release, dated as of September 26, 2022, announcing the closing of the notes offering.

99.2		Press Release, dated as of September 26, 2022, regarding the early tender results and early payment date for the cash tender offer for up to $350 million of CNX Resources Corporation’s outstanding 7.25% senior notes due 2027.


CNX RESOURCES CORPORATION

By:		/s/ Alan K. Shepard
Name:		Alan K. Shepard
Title:		Chief Financial Officer


		Page
ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE			1

SECTION 1.1.	Definitions		1
SECTION 1.2.	Other Definitions		40
SECTION 1.3.	Incorporation by Reference of Trust Indenture Act		42
SECTION 1.4.	Rules of Construction		42
SECTION 1.5.	Limited Condition Transaction		43

ARTICLE II THE SECURITIES			43

SECTION 2.1.	Form, Dating and Terms		43
SECTION 2.2.	Execution and Authentication		51
SECTION 2.3.	Registrar and Paying Agent		52
SECTION 2.4.	Paying Agent to Hold Money in Trust		53
SECTION 2.5.	Holder Lists		53
SECTION 2.6.	Transfer and Exchange		53
SECTION 2.7.	[Reserved]		56
SECTION 2.8.	Form of Certificate to be Delivered in Connection with Transfers to Institutional Accredited Investors		57
SECTION 2.9.	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S		58
SECTION 2.10.	Mutilated, Destroyed, Lost or Stolen Securities		60
SECTION 2.11.	Outstanding Securities		61
SECTION 2.12.	Temporary Securities		61
SECTION 2.13.	Cancellation		61
SECTION 2.14.	Payment of Interest; Defaulted Interest		62
SECTION 2.15.	Computation of Interest		63
SECTION 2.16.	CUSIP, Common Code and ISIN Numbers		63

ARTICLE III COVENANTS			63

SECTION 3.1.	Payment of Securities		63
SECTION 3.2.	Limitation on Indebtedness and Preferred Stock		64
SECTION 3.3.	Limitation on Restricted Payments		66
SECTION 3.4.	Limitation on Restrictions on Distributions from Restricted Subsidiaries		70
SECTION 3.5.	Limitation on Sales of Assets and Subsidiary Stock		73
SECTION 3.6.	Limitation on Liens		75
SECTION 3.7.	Statement by Officers as to Default		76
SECTION 3.8.	Limitation on Affiliate Transactions		76
SECTION 3.9.	Purchase of Securities Upon a Change of Control		78
SECTION 3.10.	Provision of Financial Information		81
SECTION 3.11.	Future Subsidiary Guarantors		82
SECTION 3.12.	Maintenance of Office or Agency		82
SECTION 3.13.	Corporate Existence		82


SECTION 3.14.	Payment of Taxes	83
SECTION 3.15.	Designation of Unrestricted Subsidiaries	83
SECTION 3.16.	Compliance Certificate	83
SECTION 3.17.	Further Instruments and Acts	84
SECTION 3.18.	Covenant Termination	84

ARTICLE IV SUCCESSOR COMPANY		84

SECTION 4.1.	Merger and Consolidation	84

ARTICLE V REDEMPTION OF SECURITIES		86

SECTION 5.1.	Redemption	86
SECTION 5.2.	Applicability of Article	86
SECTION 5.3.	Election to Redeem; Notice to Trustee	86
SECTION 5.4.	Selection by Trustee of Securities to Be Redeemed	86
SECTION 5.5.	Notice of Redemption	87
SECTION 5.6.	Deposit of Redemption Price	88
SECTION 5.7.	Securities Payable on Redemption Date	88
SECTION 5.8.	Securities Redeemed in Part	89

ARTICLE VI DEFAULTS AND REMEDIES		89

SECTION 6.1.	Events of Default	89
SECTION 6.2.	Acceleration	91
SECTION 6.3.	Other Remedies	91
SECTION 6.4.	Waiver of Past Defaults	92
SECTION 6.5.	Control by Majority	92
SECTION 6.6.	Limitation on Suits	92
SECTION 6.7.	Rights of Holders to Receive Payment	93
SECTION 6.8.	Collection Suit by Trustee	93
SECTION 6.9.	Trustee May File Proofs of Claim	93
SECTION 6.10.	Priorities	94
SECTION 6.11.	Undertaking for Costs	94

ARTICLE VII TRUSTEE		94

SECTION 7.1.	Duties of Trustee	94
SECTION 7.2.	Rights of Trustee	95
SECTION 7.3.	Individual Rights of Trustee	97
SECTION 7.4.	Trustee’s Disclaimer	97
SECTION 7.5.	Notice of Defaults	98
SECTION 7.6.	[Reserved]	98
SECTION 7.7.	Compensation and Indemnity	98
SECTION 7.8.	Replacement of Trustee	99
SECTION 7.9.	Successor Trustee by Merger	99
SECTION 7.10.	Eligibility; Disqualification	100
SECTION 7.11.	Trustee’s Application for Instruction from the Company	100


ARTICLE VIII DISCHARGE OF INDENTURE; DEFEASANCE		100

SECTION 8.1.	Discharge of Liability on Securities; Defeasance	100
SECTION 8.2.	Conditions to Defeasance	102
SECTION 8.3.	Application of Trust Money	103
SECTION 8.4.	Repayment to the Company	103
SECTION 8.5.	Indemnity for Government Securities	104
SECTION 8.6.	Reinstatement	104

ARTICLE IX AMENDMENTS		104

SECTION 9.1.	Without Consent of Holders	104
SECTION 9.2.	With Consent of Holders	105
SECTION 9.3.	Revocation and Effect of Consents and Waivers	106
SECTION 9.4.	Notation on or Exchange of Securities	106
SECTION 9.5.	Trustee to Sign Amendments	107

ARTICLE X GUARANTEE		107

SECTION 10.1.	Guarantee	107
SECTION 10.2.	Limitation on Liability; Termination, Release and Discharge	109
SECTION 10.3.	Right of Contribution	110
SECTION 10.4.	No Subrogation	110

ARTICLE XI MISCELLANEOUS		110

SECTION 11.1.	[Reserved]	110
SECTION 11.2.	Notices	110
SECTION 11.3.	[Reserved]	112
SECTION 11.4.	Certificate and Opinion as to Conditions Precedent	112
SECTION 11.5.	Statements Required in Certificate or Opinion	112
SECTION 11.6.	When Securities Disregarded	112
SECTION 11.7.	Rules by Trustee, Paying Agent and Registrar	113
SECTION 11.8.	Legal Holidays	113
SECTION 11.9.	GOVERNING LAW	113
SECTION 11.10.	No Personal Liability of Directors, Officers, Employees and Stockholders	113
SECTION 11.11.	Successors	113
SECTION 11.12.	Multiple Originals	113
SECTION 11.13.	[Reserved]	113
SECTION 11.14.	Table of Contents; Headings	113
SECTION 11.15.	Force Majeure	113
SECTION 11.16.	Waiver of Jury Trial	114
SECTION 11.17.	Consent to Jurisdiction	114


SCHEDULE I		Subsidiary Guarantors
EXHIBIT A		Form of Note
EXHIBIT B		Form of Indenture Supplement to Add Subsidiary Guarantors


Term		Defined in Section

“Additional Restricted Securities”		2.1(b)

“Affiliate Transaction”		3.8

“Agent Members”		2.1(e)(iii)

“Alternate Offer”		3.9

“Asset Disposition Offer Amount”		3.5

“Asset Disposition Offer Period”		3.5

“Asset Disposition Offer”		3.5


Term		Defined in Section

“Asset Disposition Purchase Date”		3.5

“Authenticating Agent”		2.2

“Cash Consideration”		3.5

“Change of Control Offer”		3.9

“Change of Control Payment”		3.9

“Change of Control Payment Date”		3.9

“Clearstream”		2.1(b)

“Company Order”		2.2

“covenant defeasance option”		8.1(b)

“Covenant Termination Date”		3.18

“Defaulted Interest”		2.14

“Euroclear”		2.1(b)

“Event of Default”		6.1

“Excess Proceeds”		3.5

“Global Securities”		2.1(b)

“Initial Lien”		3.6

“Institutional Accredited Investor Global Notes”		2.1(b)

“Institutional Accredited Investor Notes”		2.1(b)

“LCT Election”		1.5

“LCT Test Date”		1.5

“legal defeasance option”		8.1(b)

“Legal Holiday”		11.8

“Paying Agent”		2.3

“Payment Default”		6.1(6)(a)


Term		Defined in Section

“Permitted Debt”		3.2

“protected purchaser”		2.10

“Registrar”		2.3

“Regulation S Global Note”		2.1(b)

“Regulation S Notes”		2.1(b)

“Resale Restriction Termination Date”		2.6(b)

“Restricted Period”		2.1(b)

“Rule 144A Global Note”		2.1(b)

“Rule 144A Notes”		2.1(b)

“Securities Register”		2.3

“Special Interest Payment Date”		2.14(a)

“Special Record Date”		2.14(a)

“Successor Company”		4.1

“Successor Guarantor”		4.1


CNX RESOURCES CORPORATION

By:		/s/ Alan K. Shepard
Name:		Alan K. Shepard
Title:		Chief Financial Officer

The Subsidiary Guarantors identified on Schedule I hereto, as Subsidiary Guarantors:

By:		/s/ Alan K. Shepard
Name:		Alan K. Shepard
Title:		Authorized Signatory for each of the Guarantors listed on Schedule I hereto

UMB BANK, N.A.,
		as Trustee

By:		/s/ Mauri J. Cowen
Name:		Mauri J. Cowen
Title:		Senior Vice President


CNX Gas Company LLC		CNX Water Assets LLC
CNX Gas LLC		CNX Gathering LLC
CNX Land LLC		CNX Resource Holdings LLC
CNX Gas Holdings, Inc.		Pocahontas Gas LLC
CSG Holdings I LLC		CSG Holdings II LLC
CSG Holdings III LLC		Cardinal States Gathering Company LLC


No. [___]		Principal Amount $[______________], as
		revised by the Schedule of Increases and
		Decreases in Global Security attached hereto

		CUSIP NO. ____________
		ISIN: ____________


Period	Redemption Price
2026		103.688	%
2027		101.844	%
2028 and thereafter		100.000	%


		Name:

		Address:

		Taxpayer ID Number:


TRANSFEREE:

By:


Very truly yours,

[Name of Transferor]


Date:		Your Signature:

Signature Guarantee
(Signature must be guaranteed)

Sign exactly as your name appears on the other side of this Security.


		Signature
Signature Guarantee:


(Signature must be guaranteed)		Signature


Date:____________________		Your Signature:____________________________________________
(Sign exactly as your name appears on the other side of the Security)

Signature Guarantee____________________________________________________________________________________________
(Signature must be guaranteed)


[SUBSIDIARY GUARANTOR],
as a Subsidiary Guarantor

By:
Name:
Title:

UMB BANK, N.A.,
as Trustee

By:
Name:
Title:

CNX RESOURCES CORPORATION

By:
Name:
Title:

[OTHER EXISTING SUBSIDIARY GUARANTORS]

By:
Name:
Title: