FCPT Four Corners Property Trust Inc

Item 1.01 Entry into a Material Definitive Agreement.

On February 14, 2017, Four Corners Operating Partnership, LP (the “Borrower”), a subsidiary of Four Corners Property Trust, Inc. (the “Company”), the Company and certain of its subsidiaries, as guarantors, JPMorgan Chase Bank, N.A., as administrative agent (“Administrative Agent”) and the lenders party thereto (the “Lenders”) entered into a second amendment (the “Loan Agreement Amendment”) to their existing Revolving Credit and Term Loan Agreement, dated November 9, 2015 (as amended by that certain Omnibus Agreement and Waiver to the Loan Agreement, dated August 2, 2016, the “Loan Agreement”), for the purpose of, among other things, permitting an incurrence of additional unsecured debt in an aggregate principal amount of at least $50.0 million. The Loan Agreement Amendment further provides that, upon the incurrence of such additional unsecured debt, (A) all pledges of equity interests that secure the Loan Agreement, and all subsidiary guarantees of the Loan Agreement, will be released and (B) the financial covenant requirements in relation to maximum leverage and minimum debt service coverage will be adjusted in the manner set forth in the Loan Agreement Amendment. In addition, the Loan Agreement Amendment increases the minimum Consolidated Tangible Net Worth requirement from $845,744,000 to $868,899,000. The Loan Agreement Amendment also contains customary representations and warranties by the Borrower.

The foregoing description of the Loan Agreement Amendment is qualified in its entirety by the complete text of the Loan Agreement Amendment, which is included as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.