The US Bankruptcy Court gave an order to Ciber, Inc. to obtain DIP financing on final basis on May 2, 2017. As per the order, the debtor has been authorized to obtain a revolving credit facility in the amount of $41 million from Wells Fargo Bank, N.A. with Wells Fargo Bank, N.A acting as the administrative agent. The DIP loan would carry an interest rate of base rate plus 5.25% p.a., along with an additional 2% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a closing fee of $1.2 million. The DIP facility would mature either on May 26, 2017 or on the effective date of the plan 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 $0.28 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The proceeds of the DIP facility will be used to pay the fees, costs, and expenses incurred in connection with the postpetition credit agreement, to finance ongoing working capital needs of the debtors.