Arch Coal Restructuring Milestones in DIP Agreement $ACI $ACIIQ

The following milestones are in the DIP agreement recently filed by Arch:

Each of the following milestones (the "Milestones") are included in the DIP Credit Agreement, and any failure to comply with these Milestones will constitute an event of default:

• No later than five (5) days after the Petition Date, entry of the Interim Order;
• No later than forty-five (45) days after the Petition Date, entry of a final order approving the DIP Facility (the "Final Order");
• No later than sixty (60) days after the Petition Date, delivery of an updated business plan that is reasonably acceptable to the Required DIP Lenders;
• No later than ninety (90) days after the Petition Date, filing of a Plan of Reorganization and accompanying disclosure statement;
• No later than sixty (60) days after the date of the filing of the Plan of Reorganization described in the immediately preceding clause, entry of an order approving a disclosure statement for the solicitation of the Plan of Reorganization;
• No later than ninety (90) days after the entry of the order approving a disclosure statement for the solicitation of the plan of reorganization described in the immediately preceding clause, entry of an order confirming the Plan of Reorganization; and
• No later than fifteen (15) days after the entry of the order confirming the plan of reorganization described in the immediately preceding clause, effectiveness of the Plan of Reorganization.

So, that would mean an effective date of January 11 + 90 days + 60 days + 90 days + 15 days = September 22, 2016 (assuming that it doesn't get extended, of course).