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Real Industry Bankruptcy Agreements Filed

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Real Industry filed with the U.S. Bankruptcy Court a D.I.P. notes purchase agreement and D.I.P. ABL agreement.

According to documents filed with the Court, “Subject to the terms and conditions of this Agreement and the Financing Order and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender severally and not jointly agrees to make Loans to the Borrowers (collectively, the ‘Revolving Loans’ and individually, a ‘Revolving Loan’) from time to time on any Business Day during the period from the Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding such Lender’s Revolving Loan Commitment, which Revolving Loan Commitment, as of the Closing Date, is set forth opposite such Lender’s name on Schedule 1.1(a) under the heading ‘Revolving Loan Commitments.'”

In addition, “Borrower Representative may request that one or more L/C Issuers Issue, in accordance with such L/C Issuers’ usual and customary business practices and for the account of the Borrowers, Letters of Credit and an applicable L/C Issuer (a ‘Letter of Credit’), from time to time on any Business Day during the period from the Closing Date through the earlier of (x) the Final Availability Date and (y) 7 days prior to the Revolving Termination Date; provided, however, that no L/C Issuer shall Issue any Letter of Credit upon the occurrence of any of the following or, if after giving effect to such Issuance: the aggregate outstanding principal balance of Revolving Loans would exceed the Maximum Revolving Loan Amount or (b) the Letter of Credit Obligations for all Letters of Credit would exceed $20,000,000.”

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