May 8 end of grace... no mention of shareholders interest this time... what a strange 8k press rel dif Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. On April 24, 2015, the Company received a notice from Wells Fargo Bank, N.A. (the “Administrative Agent”) under its Second Amended and Restated Credit Agreement, dated as of December 16, 2014 (the “Credit Facility”), by and among the Company, the Administrative Agent, and the lenders party thereto, that, effective as of April 27, 2015, the borrowing base under its Credit Facility has been decreased from $1 billion to $750 million as part of the Company’s regularly scheduled semi-annual redetermination by its lenders. The decrease in the Company’s borrowing base under the Credit Facility resulted in a deficiency of approximately $250 million, which must be repaid in six monthly installments of approximately $41.54 million, with the first payment being due at the end of May. The new $750 million borrowing base will be in effect until the Company’s next borrowing base redetermination for the Credit Facility. ITEM 7.01. Regulation FD Disclosure. On April 30, 2015, the Company received notice that Wilmington Savings Fund Society, FSB has been appointed as successor trustee under the Company’s indenture dated as of September 17, 2012 governing its 7.5% senior notes due 2020 originally issued by Forest Oil Corporation. Additionally, on May 1, 2015, the Company issued a press release announcing that it had received a notice of a redetermined borrowing base under its Credit Facility. The press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K.