The Company pays interest on the Tranche B Loan proceeds, net of interest income, as defined.
The DIP Facility consists of a $1,300,000 revolving credit facility (the "Tranche A Loans") and a $200,000 loan (the "Tranche B Loan").
On September 3, 2002, the Company closed on the DIP Facility and, as part of the closing, the proceeds from the Tranche B Loan in the amount of $200,000 were funded by the DIP Lenders and transferred into credit-linked investment accounts maintained at JPMorgan Chase Bank.
As discussed in Note 2, also included in cash and cash equivalents are the proceeds of the Tranche B Loan of $200,000.
The portion of the proceeds from the Tranche B Loan associated with issued letters of credit has been reflected in restricted cash in the accompanying consolidated balance sheet.