{"url_path":"/sec/pagp/8-k/2026-06-17/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 ** **Entry into a Material Definitive Agreement.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-17","source_url":"https://www.sec.gov/Archives/edgar/data/1581990/0001104659-26-075189-index.html","accession_number":"0001104659-26-075189","cik":"0001581990","ticker":"PAGP","issuer_name":"PLAINS GP HOLDINGS LP","edgar_url":"https://www.sec.gov/Archives/edgar/data/1581990/0001104659-26-075189-index.html","primary_entity_key":"0001581990","primary_entity_name":"PLAINS GP HOLDINGS LP"},"word_count":757,"has_tables":true,"body_markdown":"**Item\n1.01           ** **Entry into a Material Definitive Agreement.**\n\n** **\n\n**Senior Unsecured Revolving\nCredit Facility**\n\n** **\n\nOn\nJune 12, 2026, Plains All American Pipeline, L.P. (“PAA”), a subsidiary of Plains GP Holdings, L.P. (the “Registrant”),\nentered into an unsecured Credit Agreement (the “Revolving Credit Agreement”), among PAA, Plains Marketing, L.P., a Texas\nlimited partnership (“PMLP”), and Plains Canada Liquid Pipelines ULC, a British Columbia unlimited liability company (“PCLP”),\nas Borrowers; certain subsidiaries of PAA from time to time party thereto, as Designated Borrowers; Bank of America, N.A., as Administrative\nAgent and Swing Line Lender; Bank of America, N.A., PNC Bank, National Association and Wells Fargo Bank, National Association, as L/C\nIssuers; and the other Lenders party thereto (terms used but not defined in this description of the Revolving Credit Agreement have the\nmeanings assigned to them in the Revolving Credit Agreement).\n\n \n\nThe Revolving\nCredit Agreement replaces (a) PAA’s Credit Agreement dated as of August 20, 2021, as amended to date, among PAA and PCLP, as Borrowers;\ncertain subsidiaries of PAA from time to time party thereto, as designated borrowers; Bank of America, N.A., as Administrative Agent and\nSwing Line Lender; Bank of America, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association, as L/C\nIssuers; and the other Lenders party thereto (as amended, the “Existing Revolving Credit Agreement”) and (b) PMLP’s\nFourth Amended and Restated Credit Agreement dated as of August 20, 2021, as amended to date, among PMLP and PCLP, as Borrowers; PAA,\nas guarantor; Bank of America, N.A., as Administrative Agent and Swing Line Lender; Bank of America, N.A., Citibank, N.A., JPMorgan Chase\nBank, N.A. and Wells Fargo Bank, National Association, as L/C Issuers; and the other Lenders party thereto (as amended, the “Hedged\nInventory Facility”).\n\n \n\nThe committed\nborrowing capacity under the Revolving Credit Agreement is $2.7 billion, up to $800 million of which is available for the issuance\nof letters of credit and up to $225 million of which is available for swing line loans. The committed amount may be increased at\nthe option of PAA to $4.0 billion, subject to, among other terms and conditions, obtaining additional or increased lender commitments.\nFurther, the Revolving Credit Agreement permits each Canadian subsidiary of PAA that is then designated as a Designated Borrower to obtain\nadvances in Canadian or U.S. dollars and Letters of Credit, up to an aggregate outstanding principal amount of the U.S. dollar equivalent\nof $1.0 billion. Payment Obligations of each Designated Borrower are guaranteed by PAA. The Revolving Credit Agreement has a scheduled\nmaturity date of June 12, 2031 and provides for one or more one-year extensions subject to applicable lender approval and other terms\nand conditions set forth in the Revolving Credit Agreement.\n\n \n\nBorrowings\nunder the Revolving Credit Agreement accrue interest based, at the applicable Borrower’s election, on either Term SOFR, the Base\nRate, the Canadian Term Rate or the Canadian Prime Rate, in each case, plus an applicable margin. Fees on issued Letters of Credit accrue\nat the applicable margin for Term SOFR Loans and Canadian Term Rate Loans, and a commitment fee accrues at an applicable margin. The applicable\nmargin used in connection with interest rates and fees is based on PAA’s credit rating at the applicable time.\n\n \n\nThe Revolving\nCredit Agreement contains representations and warranties and events of default that are customary for investment grade, senior unsecured\ncommercial bank credit agreements. In addition, the Revolving Credit Agreement contains various covenants limiting PAA’s or certain\nof its subsidiaries’ ability to, among other things:\n\n \n\n·grant liens on their principal property or equity interests in subsidiaries of PAA;\n\n·incur indebtedness, including capital leases;\n\n·sell substantially all of our assets or enter into a merger or consolidation; and\n\n·engage in transactions with affiliates.\n\n \n\nIn addition,\nthe Revolving Credit Agreement prohibits the declaration or making of distributions on, or purchases or redemptions of, PAA’s equity\ninterests if any Default or Event of Default has occurred and is continuing or, immediately after giving effect thereto, would result\ntherefrom.\n\n \n\nThe financial\ncovenant in the Revolving Credit Agreement, tested on a quarterly basis, limits Consolidated Funded Indebtedness to adjusted Consolidated\nEBITDA to no greater than 5.00 to 1.00, which increases to 5.50 to 1.00 during an Acquisition Period.\n\n \n\nA\ndefault under the Revolving Credit Agreement would permit the Lenders to terminate their commitments and to accelerate the maturity of\nthe outstanding debt.\n\n \n\nThe above description of the Revolving Credit Agreement\nis qualified in its entirety by the terms of the Revolving Credit Agreement, which is attached hereto as Exhibit 10.1 and incorporated\nherein by reference."}