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Triangle USA Petroleum Bankruptcy Order Amended

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The U.S. Bankruptcy Court issued an order amending the final order authorizing Triangle USA Petroleum to use cash collateral; granting adequate protection to pre-petition secured parties and modifying automatic stay.

The order states, “The Final Order is hereby amended as follows: (a) Paragraph 9(a)(v) of the Final Order is amended to replace the date ‘February 15, 2017 with the date March 10, 2017 (the Plan confirmation date); Paragraph 9(a)(vi) of the Final Order is amended to replace the date march 1, 2017 with the date march 24, 2017 (the effective date of Plan); Paragraph 10(p) of the Final order is amended and restated in its entirety as follows: The ending weekly cash balance reported by the RBL Credit Parties is less than (i) $43 million for any week during the first 13-week period beginning September 12, 2016; (ii) $25 million for any week during the period beginning immediately thereafter and ending on the date of entry of this Amended Final Order and (iii) $40 million for any week thereafter.”

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