- Bookmark
- Share
- CaseIQ
IN RE FALCON PRODUCTS, INC. (Bankr.E.D.Mo. 2005)
ORDER GRANTING MOTION FOR ORDER AUTHORIZING THE DEBTORS TO PAY AMENDMENT FEE AND ENTER INTO A MATERIAL AMENDMENT TO THE POST-PETITION CREDIT AGREEMENT
BARRY SCHERMER, Bankruptcy Judge
The Court, having considered the "Motion For Order Authorizing Debtors To Pay Amendment Fee And Enter Into A Material Amendment To The Post-Petition Credit Agreement" (the "Motion") filed by the Debtors and the Affidavit of Neal Restivo (the "Restivo Affidavit") submitted in support thereof, finds that:
Terms not otherwise defined herein shall have the same meaning ascribed to them in the Motion.
(i). notice of the Motion was appropriate under the circumstances;
(ii). no opposition to the Motion was filed; and
(iii) good cause has been shown for the relief requested in the Motion.IT IS HEREBY ORDERED that:
1. The Motion is granted as set forth below and as reflected in the record of the hearing.
2. The Debtors are authorized to modify the Post-petition Credit Agreement (the "Loan Agreement") to provide them with up to $8 million in additional availability in exchange for a $100,000 amendment fee and a one and a half percent (1.5%) increase in the non-default interest rate provide for under the Loan Agreement.
3. The Debtors are authorized to pay the $100,000 amendment fee to DDJ Capital Management, LLC as Administrative Agent and Collateral Agent for The Financial Institutions and Other Lenders named in the Loan Agreement.
4. No later than three (3) business days after the date of this order, the Debtors are directed to serve a copy of the order in accordance with the Court's order establishing notice procedures and are directed to file a certificate of service no later than two (2) business days after service.
Alert