The US Bankruptcy Court gave an order to Tailored Brands, Inc. to obtain DIP financing on a final basis on September 2, 2020. As per the order, the debtor has been authorized to obtain a senior secured super-priority revolving credit facility in the amount of $500 million from the DIP lenders with JPMorgan Chase Bank, N.A. acting as the administrative agent. The DIP facility includes $150 million sublimit for the issuance of letters of credit. Each LIBO rate loan or CDOR rate loan will carry an interest rate of LIBOR or CDOR Rate plus 2.5%, subject to a 0.75% floor rate, each ABR loan and Canadian Prime Rate loan will carry interest rate of ABR or Canadian Prime rate plus 1.5% p.a. and each Swing line loan will carry rate of ABR or Canadian Prime Rate plus 1.5% p.a. As per the terms of the DIP agreement, the loan carries a commitment fee of 0.30% p.a. The DIP facility would mature either 6 months after the effective date of the plan or on the date of consummation of the sale of substantially all assets or on the date of conversion or dismissal of case, 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 $2 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.