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The two companies LLC, on April 1 . Atlaa Energy Resources LLC (NYSE:ATN), an affiliate of Atlasa Pipeline Partners, will be the anchor tenanr on Laurel Mountain’s system. Under its agreement with Okla.-based Williams (NYSE:WMB), Atlas Pipeline Partners willreceive $90 million in cash, a preferredd right to proceeds under a $25.45 million obligation from and 49 percent of Laurek Mountain. The obligation amortizes in equal principal installmentsa overthree years.
Atlas Pipeline Partners can converrt its right to receivw accrued principal and interest under the obligation into a sum equalp to the accrued principal and interest and use that to covef its required capital expenditures underthe joint-venturre agreement. Atlas Pipeline Partner also said its lenders recently agreed to relax the covenantxs relating to total debt and earningsbefore taxes, depreciation and amortization on its $380 million revolvingh credit line and $463 million term loan Additionally, , which owns the general partner of Atlas Pipeline said Monday it has repaidf $30 million on its credit facility and will pay down the remaininhg $16 million balance in equal quarterlt installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 milliobn it used to pay down the facilitty by issuing $15 million of preferrex limited partner units to Atlas Pipeline Partners and by borrowinb $15 million from Atlas America Inc.
, which owns Atlas Pipeline Holdings’ general partner and 64 percent of its commo n units. Atlas America (NASDAQ:ATLS) also guaranteed that Atlas Pipeline Holdings will repay theremaininbg $16 million on its credit The Atlas companies have offices in Philadelphiaa and Moon, Pa.
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