On January 26, 2017, Internap Corporation, certain lenders and Jefferies Finance LLC, as administrative agent entered into a third amendment and waiver to the credit agreement dated as of November 26, 2013 among the company, the lenders parties thereto and the administrative agent, as previously amended by a first amendment thereto dated as of October 30, 2015 and a second amendment thereto dated April 12, 2016. The third amendment, among other things, amends the credit agreement to make each of the interest coverage ratio and leverage ratio covenants less restrictive and to decrease the maximum level of permitted capital expenditures. The effectiveness of the covenant amendments is conditioned on the company completing one or more equity offerings on or before June 30, 2017 for gross cash proceeds of not less than $40 million and net cash proceeds of not less than $37 million and the application of the net cash proceeds to the repayment of indebtedness under the credit agreement. A fee of approximately $0.85 million is payable by the company to the lenders who are parties to the third amendment upon execution of the third amendment and an additional fee of $1.7 million will be payable to the lenders when the conditions to the effectiveness of the third amendment have been met.