The US Bankruptcy Court gave an order to Internap Technology Solutions Inc. to obtain DIP financing on an interim basis on March 19, 2020. As per the order, the debtor has been authorized to obtain a super priority senior secured term loan credit facility in the amount of $75 million consisting of new money loan of $70 million and roll up loan of $5 million from Jefferies Finance LLC as DIP lenders and also acting as the administrative agent. The DIP loan would carry an interest rate of LIBOR plus 1000 bps, along with libor floor 1% 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 2% p.a. The DIP facility would mature either on September 16, 2020, or six months after petition date or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, 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 $0.1 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The final hearing is scheduled on May 4, 2020.