On March 13, 2020, Internap Corporation (“INAP”) and its affiliates Datagram LLC, Hosting Intellect LLC, Internap Connectivity LLC, SingleHop LLC, Ubersmith, Inc. and Internap Technology Solutions Inc. (collectively with INAP, the “INAP RSA Parties” or the “Company”) entered into a Restructuring Support Agreement (the “RSA”) with holders (the “Consenting Lenders”) of approximately 77% of the Company’s outstanding term loans. As in the RSA, including in the term sheet attached thereto (including all exhibits, annexes and schedules attached thereto, the “Term Sheet”), the INAP RSA Parties and Consenting Lenders (collectively, the “RSA Parties”) have agreed to the principal terms of a proposed financial restructuring (the “Restructuring”) of the Company. The Restructuring is contemplated to be implemented through a prepackaged Chapter 11 plan of reorganization (the “Plan”). As further described below, on March 16, 2020, the Company filed voluntary petitions for relief (collectively, the “Chapter 11 Cases”) under Title 11 of the United States Code (the “Bankruptcy Code”) to effect the Plan. The RSA contemplates a comprehensive deleveraging of the Company’s balance sheet. Specifically, the RSA and Term Sheet provide, in pertinent part, as follows: The Company’s general unsecured creditors will be paid in full in the ordinary course of business. The Company will enter into debtor-in-possession financing structured as a delayed draw term loan (the “DIP Facility”) providing for a limit of $75 million (including the $5 million refinancing of the New Incremental Loans (as hereinafter defined)). The DIP Facility will mature on the earliest of (i) six months from the date on which the Chapter 11 Cases are commenced (the “Petition Date”), (ii) the conversion or dismissal of the Chapter 11 Cases, (iii) the sale of substantially all of the assets of the Company, (iv) the acceleration of the DIP Facility in accordance with its terms and (v) the effective date of the Plan (the “Effective Date”). The DIP Facility will bear interest at LIBOR + 1000 basis points, payable in cash monthly. The DIP Facility will convert into a priority exit facility (the “Priority Exit Facility”) upon the Company’s emergence from the Chapter 11 Cases. The Priority Exit Facility will have a 3-year maturity and bear interest at a rate of LIBOR + 1000 basis points payable in cash. The Company will enter into a new term loan facility (the “New Term Loan Facility”) on the Effective Date. The New Term Loan Facility will provide for term loans in the principal amount of $225 million, mature 5 years after the Effective Date and bear interest at a rate of LIBOR + 650 basis points, 300 basis points of which will be paid in cash and 350 basis points will be paid in kind; provided that, at the election of the INAP board of directors post-Effective Date, 200 basis points of the LIBOR + 300 basis points cash interest may be payment in kind. The Company will use its commercially reasonable efforts to enter into a new $15 million senior secured first out working capital facility on the Effective Date.