The US Bankruptcy Court gave an order to Quorum Health Corporation to obtain DIP financing on final basis on May 6, 2020. As per the order, the debtor has been authorized to obtain a junior secured superpriority basis, consisting of a new money term loan facility in the total principal amount of up to $100 million from GLAS USA LLC acting as the administrative agent and GLAS AMERICAS LLC as collateral agent. The DIP loan would either carry an interest rate of an alternate base rate plus 9.00% p.a. for ABR Borrowing and LIBOR rate of plus 10% for each Eurodollar Borrowing, 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 in an amount of 3.00% of the principal amount of each lender. The DIP facility would mature either on six months after the date of the DIP credit agreement and the acceleration of the DIP loans and commitments under the DIP facility in accordance with the DIP credit agreement after an event of default thereunder, 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 $0.05 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 shall be used for (i) working capital and general corporate purposes of the DIP loan parties and the subsidiaries, (ii) to pay obligations arising from or related to the carve out, (iii) to pay professional fees in connection with the chapter 11 cases, (iv) to make adequate protection payments expressly required under the orders and (v) to pay fees and expenses incurred in connection with the transactions contemplated by the DIP credit agreement.