SEC Filings

PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 02/27/2019
Entire Document

agreement, dated as of even date with the Agreement, executed and delivered by Borrower, each other Loan Party, and Agent, the form and substance of which is reasonably satisfactory to the Required Lenders.


Interest Payment Date” means (a) with respect to any Base Rate Loan, the first Business Day of each full calendar month ended after the Closing Date and (b) with respect to any LIBOR Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such LIBOR Rate Loan is a part; provided, that, in the case of any Interest Period greater than one month in duration, interest shall be payable at one-month intervals after the commencement of the applicable Interest Period and on the last day of such Interest Period.


Interest Period” means, with respect to each LIBOR Rate Loan, a period commencing on the date of the making of such LIBOR Rate Loan (or the continuation of a LIBOR Rate Loan or the conversion of a Base Rate Loan to a LIBOR Rate Loan) and ending 1, 2, 3 or 6 months thereafter; provided, that (a) interest shall accrue at the applicable rate based upon the LIBOR Rate from and including the first day of each Interest Period to, but excluding, the day on which any Interest Period expires, (b) any Interest Period that would end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day, (c) with respect to an Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period), the Interest Period shall end on the last Business Day of the calendar month that is 1, 2, 3 or 6 months after the date on which the Interest Period began, as applicable, and (d) Borrower may not elect an Interest Period which will end after the Maturity Date.


Interim DIP Order” has the meaning specified on Schedule 3.1.


Interim DIP Order Entry Date” has the meaning specified on Schedule 3.1.


Inventory” means inventory (as that term is defined in the Code).


Investment” means, with respect to any Person, any investment by such Person in any other Person (including Affiliates) in the form of loans, guarantees, advances, capital contributions (excluding (a) commission, travel, and similar advances to officers and employees of such Person made in the Ordinary Course of Business, to the extent such advances would not be required to be classified as investments on a balance sheet prepared in accordance with GAAP, and (b) bona fide accounts receivable arising in the Ordinary Course of Business), or acquisitions of Indebtedness, Equity Interests or all or substantially all of the assets of such other Person (or of any division or business line of such other Person), and any other items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. The amount of any Investment shall be the original cost of such Investment plus the cost of all additions thereto, without any adjustment for increases or decreases in value, or write-ups, write-downs, or write-offs with respect to such Investment.


IP Subsidiaries” means Pernix Ireland and Pernix Ireland Pain.


IRC” means the Internal Revenue Code of 1986, as in effect from time to time.


Lender” has the meaning set forth in the preamble to the Agreement and shall also include any other Person made a party to the Agreement pursuant to the provisions of Section ‎13.1 of the Agreement and “Lenders” means each of the Lenders or any one or more of them.


Lender Group” means each of the Lenders and Agent, or any one or more of them.


Schedule 1.1

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