Attached files
file | filename |
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8-K - 8-K - REX ENERGY CORP | d565393d8k.htm |
EX-99.6 - EX-99.6 - REX ENERGY CORP | d565393dex996.htm |
EX-99.5 - EX-99.5 - REX ENERGY CORP | d565393dex995.htm |
EX-99.4 - EX-99.4 - REX ENERGY CORP | d565393dex994.htm |
EX-99.3 - EX-99.3 - REX ENERGY CORP | d565393dex993.htm |
EX-99.2 - EX-99.2 - REX ENERGY CORP | d565393dex992.htm |
EX-99.1 - EX-99.1 - REX ENERGY CORP | d565393dex991.htm |
Exhibit 99.7
SUBJECT TO FRE 408 FOR SETTLEMENT PURPOSES ONLY 2L Noteholder Proposal Administrative Agent Proposal Revised 2L Noteholder Proposal Administrative Agent Draft Forbearance February 6th Option 2 (February 7th) March 23rd Proposal March 27th Fee None None None None Delayed Commitment Term. Date NA - terminated, see below NA - terminated, see below Same Permit not greater than $35MM of Delayed Draw for the sole purpose of LC Cash Collateralization Proceeds not allowed for any other purpose LC Delayed Draw Event NA - cash funded, see below NA - cash funded, see below Same Outstanding LCs fully cash collateralized no later than 3 days after the Forbearance Effective Date Amendment Covenants No change from existing facility. Temporary waiver if necessary to accommodate $75MM draw No change from existing facility No change from existing facility. Temporary waiver if necessary to accommodate full draw No change from existing facility Take-Back Paper $200MM - 8% cash coupon at OpCo No more than $125MM at OpCo No more than 8% cash interest rate Additional PIK rate TBD Maturity extended to 1L Maturity + 6 months TBD Restricted Payments tests governing ability to pay cash interest Acceptable documentation/intercreditor $175MM - 8% cash coupon at OpCo No more than $125MM at OpCo No more than 8% cash interest rate Other No change from existing facility except clean up, including incorporation of LCs into leverage ratios Need year end update on financials and reserves Subject to committee approvals No change from existing facility except clean up, including incorporation of LCs into leverage ratios Need year end update on financials and reserves Subject to committee approvals Same Takeback paper with maturity not earlier than 6 months after First Lien Exit Agreement maturity TBD RP test governing ability to pay cash interest Subject to documentation / intercreditor acceptable to Administrative Agent Amount $2.0MM $8.5MM $3.0MM $9.5MM $8.5MM if First Lien approved pre-petition RSA signed by 2L creditors with over 66.7% principal holding Make-Whole Adjustment to Yield Maint. Period One quarter extension Three quarter extension One quarter extension Four quarter extension Three quarter extension if First Lien approved pre-petition RSA signed by 2L creditors with over 66.7% principal holding Other Additional draw of $75MM and termination of delayed draw commitment, 1-2Q18 covenants adjusted as necessary Additional draw of full facility amount and termination of delayed draw commitment. 1-2Q18 covenants adjusted as necessary Same First Lien Lenders to provide DIP Facility containing up-front fees, unused commitment fees, and conversion fees(1) All accrued interest and other non-principal Secured Obligations paid in cash Toggle to 363 sale if First Lien approved plan is not confirmed by the [61] day after petition (1) Prior proposals were predicated on the consensual use of cash collateral to fund a Chapter 11 case to implement the proposed transaction