The US Bankruptcy Court gave an order to Emerge Energy Services LP to obtain DIP financing on an interim basis on July 17, 2019. As per the order, the debtor has been authorized to obtain a revolving credit facility in the amount of $7.5 million out of total facility of $35 million from various financial institution from time to time with HPS Investment Partners, LLC acting as the administrative agent. The DIP loan would either carry an interest rate of LIBOR plus 8% p.a. or an alternate base rate plus 7% 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 commitment fee of 1% p.a., closing fee of 3% of the commitment and DIP fee of 5% of the outstanding amount. The DIP facility includes an outside maturity date of the six month anniversary of the Closing Date. The Final Hearing is scheduled for August 14, 2019.