Exide Technologies DIP lenders approved two amendments to the company’s debtor-in-possession financing facilities. According to the 8-K filing, JPMorgan Chase Bank is serving as DIP agent.

The sixth amendment provides the company with $60 million in incremental liquidity to execute its business plan and meet working capital needs for the upcoming inventory build season. The amendment also extends the maturity date of the DIP facilities to December 31, 2014, which would be effective upon Exide’s entry into a plan support agreement. The U.S. Bankruptcy Court for the District of Delaware entered the order approving the additional $60 million in liquidity to be provided under the sixth amendment on July 28, 2014. Exide currently expects to obtain the additional funding this week.

The seventh amendment, effective as of July 25, 2014, eliminates the date by which Exide is required to file a plan of reorganization (POR), providing the company additional flexibility to build consensus in completing POR negotiations with its creditor constituents. In particular, Exide continues to advance negotiations of the previously announced non-binding proposal for a POR and preferred equity capital commitment received from the unofficial committee of senior secured noteholders and intends to file a POR promptly following finalization of negotiations with its stakeholders. To provide maximum flexibility in its continued POR negotiations, Exide intends to file a motion on or before July 31, 2014 seeking to extend the exclusive period in which to file a POR to December 10, 2014. Exide expects its exclusivity extension request to be heard by the bankruptcy court on September 3, 2014. Exide remains committed to emerging from Chapter 11 by December 31, 2014.

Exide Technologies is a producer and recycler of lead-acid batteries.

Previously on abfjournal: Exide Receives Proposal for Reorganization Plan, July 1, 2014