The US Bankruptcy Court gave an order to Erickson Incorporated to obtain exit financing on March 22, 2017. As per the order, the debtor has been authorized to obtain a senior secured revolving credit facility in the amount of $150 million from MidCap Financial. The exit facility would either carry a floating rate equal to reserve adjusted, 90-day LIBOR plus applicable margin along with a 2% p.a. interest in the event of default. As per the terms of the exit financing agreement, the loan carries a commitment fee of 1% p.a. The term of the credit facility shall be 5 years; provided, that, if on the date that is 90 days prior to the date that is 5 years after the closing date, the second lien credit agreement has not been extended or refinanced with a debt facility or indenture on substantially similar terms as the second lien credit agreement, then the credit facility shall mature on such date that is the 90th day prior to the expiration of the term. The proceeds of the loans under the credit facility will be used by borrowers on the closing date, for the payment in full of the DIP revolving facility and to fund other payments required in order to substantially consummate the chapter 11 plan, to pay costs, expenses and fees in connection with the credit facility and the other transactions, and on and after the closing date, for working capital of borrowers and their subsidiaries and other general corporate purposes consistent with the terms of the financing documents.