The US Bankruptcy Court gave an order to Cloud Peak Energy Inc. to obtain DIP financing on a final basis on July 18, 2019. As per the order, the debtor has been authorized to obtain a new money secured term loan in the amount of $35 million; an option to draw up to an additional $10 million of Incremental Loans and roll-up term loans of up to $28 million, plus an additional aggregate amount of up to $8 million in the event of the incurrence of debt under the Incremental Facility from the lenders who are certain of the Prepetition Secured Note holders with Ankura Trust Company, LLC acting as the administrative agent. The DIP loan would either carry an interest rate of LIBOR plus 9% p.a., with a LIBOR floor of 1% p.a., or an alternate base rate plus 8% p.a., with an ABR floor of 2% p.a. along with an additional 2% p.a. interest in the event of default. The DIP facility would mature either on 35 days after entry of the Interim Order if the Final Order has not been entered or nine months after the Effective Date or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $1.05 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.