The US Bankruptcy Court gave an order to Erickson Incorporated to obtain DIP financing on final basis on December 1, 2016. As per the order, the debtor has been authorized to obtain DIP Revolving Facility in the amount of $116 million from Wells Fargo Bank, National Association, Deutsche Bank Trust Company Americas, Bank of the West and HSBC Bank USA, National Association. Also, the debtor has been authorized to obtain DIP Term Facility in the amount of $66.67 million from Wayzata Investment Partners LLC, on behalf of Wayzata Opportunities Fund III, L.P. and Wayzata Opportunities Fund Offshore III, L.P., MHR Fund Management LLC, on behalf of MHR Institutional Partners IV LP, Foxhill Opportunity Fund L.P. and Corbin Opportunity Fund with Wilmington Savings Fund Society, FSB acting as the administrative agent. The DIP Revolving Facility would carry an interest rate of LIBOR plus 7.5% p.a. The DIP Term Facility would carry an interest rate of 12% p.a. Both the facilities would mature in 6 months. The DIP Term Facility will carry closing fee of 4% of the principal amount. 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 $0.25 million towards unpaid professional fees and first priority lien upon and security interest in the debtor’s collateral. Ropes & Gray LLP acted as advisor to DIP term agent, Akin Gump Strauss Hauer & Feld LLP to DIP Term loan lenders, and Goldberg Kohn Ltd. to DIP Revolving agent.