Item 1.01 Entry into a Material Definitive Agreement
Amendments to DIP Credit Agreement and Receivables Securitization Facility
As previously reported, on November 14, 2019, the Company entered into the
Senior Secured Superpriority Debtor-in-Possession Credit Agreement (as amended
by the first amendment, dated as February 10, 2020, the "DIP Credit Agreement"),
among the Company, as borrower, the lenders from time to time party thereto (the
"DIP Lenders") and Coöperatieve Rabobank U.A., New York Branch, as
administrative agent and collateral agent for the DIP Lenders. On March 27,
2020, the Company entered into the second amendment to the DIP Credit Agreement
(the "Second Amendment") to modify certain of the milestone dates set forth in
the DIP Credit Agreement, including modifying the deadline for an order to be
entered approving the sale of the Company's assets under Section 363 of Title 11
of the U.S. Code (other than a minority of certain bid assets) to April 10, 2020
(from May 20, 2020). On March 27, 2020, the Company also entered into an
amendment (the "Securitization Amendment") to the definitive agreement governing
its receivables securitization facility (the "Securitization Facility"), whereby
the financing providers under the Securitization Facility agreed to give effect
to the Second Amendment for purposes of the Company's compliance with the
covenants under the Securitization Facility.
The foregoing descriptions are only a summary of the Second Amendment and the
Securitization Amendment and are qualified in their entirety by reference to the
full text of the Second Amendment and the Securitization Amendment, which are
filed as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated by
reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Second Amendment to Senior Secured Superpriority Debtor-In-Possession
Credit Agreement
10.2 Amendment No. 3 to Ninth Amended and Restated Receivables Purchase
Agreement
104 Cover Page Interactive Data File included as Exhibit 101 (embedded within the
Inline XBRL document)
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