SEC Filings

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

Schedule 5.22

 

Milestones

 

(a)       Not later than March 3, 2019, Borrower and each of its Subsidiaries shall file voluntary petitions for relief commencing a case under chapter 11 of the Bankruptcy Code in the Bankruptcy Court, and file and serve one or more motions, each in form and substance reasonably acceptable to the Lenders, seeking approval of (i) the Agreement and the related guarantees and liens contemplated to be provided with respect to the Agreement on an interim and final basis, (ii) the Sale Procedures Order and the Sale Order and (iii) the assumption of the Services Agreement (if not earlier terminated).

 

(b)       Not later than five (5) days following the Petition Date, the Bankruptcy Court shall have entered the Interim DIP Order.

 

(c)       Not later than thirty-five (35) days after the Petition Date, the Bankruptcy Court shall have entered the Final DIP Order and the Sale Procedures Order.

 

(d)       Not later than sixty (60) days after the Petition Date, the Auction (if necessary) shall have been held pursuant to the Sale Procedures Order, and the Sale Procedures Order shall be in full force and effect, and shall not have been (A) vacated, reversed, or stayed, or (B) amended or modified except as otherwise agreed to in writing by Lenders in their sole discretion.

 

(e)       Not later than seventy-five (75) days following the Petition Date, the Bankruptcy Court shall have entered the Sale Order, and the Sale Order shall be in full force and effect, and shall not have been (A) vacated, reversed, or stayed, or (B) amended or modified except as otherwise agreed to in writing by Lenders in their sole discretion.

 

Schedule 5.22

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