SEC Filings

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

quoted by The Wall Street Journal as the “Prime Rate” in the United States or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Agent) or any similar release by the Federal Reserve Board (as determined by the Agent).


Base Rate Loan” means each portion of the Loans that bears interest at a rate determined by reference to the Base Rate.


Benefit Plan” means a “defined benefit plan” (as defined in Section 3(35) of ERISA) subject to Title IV of ERISA for which any Loan Party, any of their respective Subsidiaries or any of their respective ERISA Affiliates has been an “employer” (as defined in Section 3(5) of ERISA) within the past six years.


Board of Directors” means, as to any Person, the board of directors (or comparable managers) of such Person, or any committee thereof duly authorized to act on behalf of the board of directors (or comparable managers).


Board of Governors” means the Board of Governors of the Federal Reserve System of the United States (or any successor).


Borrower” has the meaning specified therefor in the preamble to the Agreement.


Borrower Cash Assets” means all cash and Cash Equivalents owned by Borrower.


Borrower Materials” has the meaning specified therefor in Section ‎17.9(c) of the Agreement.


Borrowing” means a borrowing consisting of Loans made on the same day by the Lenders (or Agent on behalf thereof).


Business Day” means any day that is not a Saturday, Sunday, or other day on which banks are authorized or required to close in the state of New York.


Capitalized Lease Obligation” means that portion of the obligations under a Capital Lease that is required to be capitalized in accordance with GAAP.


Capital Lease” means a lease that is required to be capitalized for financial reporting purposes in accordance with GAAP.


Carve Out” has the meaning specified therefor in the applicable DIP Order.


Cases” means the bankruptcy cases commenced by the Borrower and its Subsidiaries under chapter 11 of the Bankruptcy Code in the Bankruptcy Court.


Cash Equivalents” means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one (1) year from the date of acquisition thereof, (b) marketable direct obligations issued or fully guaranteed by any state of the United States or any political subdivision of any such state or any public instrumentality thereof maturing within one (1) year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either Standard & Poor’s Rating Group (“S&P”) or Moody’s Investors Service, Inc. (“Moody’s”),


Schedule 1.1

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