The US Bankruptcy Court gave an order to Tintri, Inc. to obtain DIP financing on final basis on August 23, 2018. As per the order, the debtor has been authorized to obtain a term loan credit facility in the amount of $5.49 million from TriplePoint Capital LLC. The DIP loan would either carry an interest rate of 12.75%, along with an additional 5% p.a. interest in the event of default. The DIP facility would mature either on September 21, 2018 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 towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. Gary Rosenbaum and Tim Walsh & Riley Orloff of McDermott Will & Emery LLP acted as legal counsels for the DIP Lender. The Court had granted the debtor an interim approval to access $2.95 million as DIP financing on July 11, 2018.