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Relativity Media – Gets Access To $4 Million In Final DIP Financing, Cash Collateral

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August 10, 2018 – The Court hearing the Relativity Media case has approved the Debtors request (i) to obtain up to $4 million in senior secured debtor-in-possession (“DIP”) financing from UltraV Holdings and (ii) to access cash collateral [Docket No.479]. As previously reported [Docket No. 17], “The proposed DIP Facility will provide the Debtors with an interim solution to the Debtors’ liquidity needs. The DIP Note and the DIP Loans are reasonably priced, the DIP Loan Documents were negotiated in good faith and at arms’ length, and the DIP Facility is the Debtors’ only postpetition financing option available…the Debtors believe that authorization to obtain the DIP Facility, and to use the Cash Collateral, is in the best interests of the Debtors, their estates and creditors, and should be granted. The financing will bear an interest rates of 10% per annum.”

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