In conjunction with the restructuring, the Company received $300 million in debtor-in- possession financing and the Company has entered into a Restructuring Support Agreement (RSA) with parties that hold or control over 78% of its secured term debt and over 89% of its unsecured term debt. Such financing, combined with cash generated from the Company’s operations, will provide the Company with the liquidity necessary to maintain its operations in the ordinary course during its Chapter 11 case. The RSA demonstrates the support of the Company’s lenders and their confidence in the go-forward businesses, as well as providing a clear path to emergence from Chapter 11 on an expedited basis.
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