The US Bankruptcy Court gave an order to EP Energy Corporation to obtain DIP financing on a final basis on November 25, 2019. As per the order, the debtor has been authorized to obtain a senior secured superpriority priming debtor in possession revolving facility in the amount of $314.71 million from JPMorgan Chase Bank, N.A. ($42,500,000.00), Citibank, N.A. ($42,500,000.00), BMO Harris Financing, Inc. ($75,000,000.00), Credit Suisse AG, Cayman Islands Branch ($37,000,000.00), Credit Suisse Loan Funding LLC ($5,500,000.00), Royal Bank of Canada ($42,500,000.00), The Toronto-Dominion Bank, New York Branch ($23,473,637.50), DNB Capital LLC ($14,000,000.00), Goldman Sachs Bank USA ($11,736,818.50), Sumitomo Mitsui Banking Corporation ($10,500,000.00) and Mizuho Bank, Ltd. ($10,000,000.00) with JPMorgan Chase Bank, N.A. acting as the administrative agent. The DIP loan would either carry an interest rate of LIBOR plus 3.5% p.a., or an alternate base rate plus 2.5% p.a., along with an additional 2% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a commitment fee of 0.5% p.a. The DIP facility would mature either on November 25, 2020 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, or the termination of the DIP Facility during the continuation of an Event of Default, or termination under this Agreement or the DIP Order whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $7.6 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. On maturity the DIP will be roll up into exit facility.