Ciber filed with the U.S. Bankruptcy Court an amendment to the final order authorizing the Debtors to (a) use cash collateral; (b) incur post-petition debt and (c) grant adequate protection and provide security and other relief to Wells Fargo Bank.
The notice states, “To accommodate a sale closing pursuant to the terms of the HTC APA, the Debtors and Wells Fargo Bank have entered into the Amendment to the Final Order….The Debtors intend to seek Court approval of the Amendment at the hearing scheduled for May 19, 2017.” Documents filed with the Court note, “Upon entry of this Order, the Final DIP Order is amended as follows: (a) The date ‘May 26, 2017’ in the definition of Termination Date in the Final DIP Order is deleted and replaced with the date ‘June 9, 2017’.(b) The amount of ‘$41,000,000’ in the definition of DIP Commitment in the Final DIP Order is deleted and replaced with the amount of ‘$45,000,000.’…(d) The amount of ‘$41,000,000’ in Paragraph 3(c)(i) of the Final DIP Order is deleted and replaced with the amount of ‘$45,000,000.’…The date of ‘May 26, 2017’ in Paragraph 3(f)(iii) of the Final DIP Order is deleted and replaced with the date ‘June 9, 2017.'”
In addition, “The amount of ‘$9,000,000’ in definition of Permitted Over-advance in the Postpetition Credit Agreement is deleted and replaced with the amount of ‘$13,000,000.’ Section 2.10(c) of the Credit Agreement is amended and restated in its entirety as follows: Borrowers shall pay to Agent, for the ratable benefit of the Lenders, a closing fee (the ‘Closing Fee’) in an amount equal to $1,450,000, fully earned as of the date of this Agreement, but (1) $400,000 of which was paid immediately upon the closing of this Agreement, (2) an additional $600,000 of which was paid upon entry of the Final Order, (3) an additional $200,000 of which shall be payable upon May 26, 2017, and (4) and an additional $250,000 of which shall be payable upon the Maturity Date.”
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