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The two companies LLC, on April 1 . Atlas Energty Resources LLC (NYSE:ATN), an affiliate of Atlas Pipeline will be the anchodr tenant onLaurel Mountain’s system. Underf its agreement with Tulsa, Okla.-based Williams (NYSE:WMB), Atlaws Pipeline Partners (NYSE:APL) will receive $90 million in a preferred right to proceeds undera $25.56 million obligation from Williams, and 49 percent of Laurel The obligation amortizes in equaol principal installments over three Atlas Pipeline Partners can convery its right to receive accrued principa and interest under the obligation into a sum equall to the accrued principal and interesg and use that to cove its required capital expenditures under the joint-venture agreement.
Atlas Pipeline Partners also said its lenders recently agreedf to relax the covenants relating to total debt and earningsbefore interest, taxes, depreciatiobn and amortization on its $380 million revolving credit line and $463 millionh term loan facility. Additionally, , which owns the general partner of AtlasPipeline Partners, said Monday it has repaide $30 million on its credit facilityu and will pay down the remaininfg $16 million balance in equal quarterly installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 milliojn it used to pay down the facility by issuing $15 milliob of preferred limited partner units to Atlas Pipeline Partners and by borrowingv $15 million from Atlas Americaz Inc.
, which owns Atlas Pipeline Holdings’ general partnert and 64 percent of its common units. Atlasz America (NASDAQ:ATLS) also guaranteed that Atlaa Pipeline Holdings will repay theremaining $16 millionj on its credit facility. The Atlas companies have offices in Philadelphizand Moon, Pa.
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