SEC Filings

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


any fee letters, the “DIP Loan Documents”). Subject to paragraph 20 of this Interim Order, the DIP Loan Parties are hereby authorized to borrow money under the applicable DIP Loan Documents, on an interim basis, and perform all other obligations thereunder, provided that until the entry of the Final Order, the DIP Loan Parties are only authorized to borrow an aggregate principal amount of up to $20.1 million, comprised of (i) $6.0 million in Delayed Draw Commitments, and (ii) $14.1 million to refinance the outstanding amounts owed under the Prepetition Revolving Facility. In furtherance of the forgoing and without further approval of the Court, each Debtor is authorized to perform all acts, to make, execute and deliver all instruments and documents (including, without limitation, the execution and delivery of security agreements, mortgages and financing statements), and to pay all fees that may be reasonably required or necessary for the DIP Loan Parties’ performance of their obligations under or related to the DIP Facility.


3.                  Refinancing of Prepetition Revolving Facility. Subject to the rights of any Committee or other parties-in-interest as and to the extent set forth in paragraph 33 below, the Debtors are hereby authorized to use proceeds of the DIP Facility and Cash Collateral to pay in full the Prepetition Revolving Debt. The Prepetition Revolving Liens shall be automatically released and terminated upon the Revolver Discharge.4 Until then, subject to the terms and conditions contained in this Interim Order (including, without limitation, the DIP Liens (as defined below) granted hereunder and the Carve-Out (as defined below)), any and all prepetition



4Revolver Discharge” means the indefeasible refinancing of the Prepetition Revolving Debt in full, including postpetition interest and fees through the date of repayment (at the non-default contract rate), which shall be deemed to have occurred if no adversary proceeding or contested matter is timely and properly asserted in accordance with this Interim Order with respect to the Prepetition Revolving Debt or against the Prepetition Revolving Agent or the Prepetition Revolving Lenders, or if an adversary proceeding or contested matter is timely and properly asserted, upon the final disposition of such adversary proceeding or contested matter in favor of the Prepetition Revolving Lenders by order of a court of competent jurisdiction; provided that all amounts of interest outstanding as of the Petition Date shall be waived by the Prepetition Revolving Lenders.