It is for DIP financing as I read it

Crystallex’s objectives include (x) that the Financing will yield cash proceeds in

an amount of not less than $35 Million net of commitment fees and financing

costs, and (y) that the Financing can be rolled into an exit facility maturing upon

recovery from the Arbitration Proceeding (as defined below) with an outside

maturity date of not earlier than December 31, 2014. If a Bid includes currentpay

interest, the amount of the principal under the proposed Financing shall be

increased by the amount of such current-pay interest for a two-year period. It is

contemplated that principal and interest outstanding in connection with the

Financing would be secured by a first priority (subject to permitted prior ranking

claims) lien and charge on all of Crystallex’s assets and that the Lender Back-End

Entitlement (as defined below), if any, would be unsecured and rank junior and

subordinate to the claims of the Noteholders and other pre-filing general

unsecured creditors of Crystallex.

An interesting section in the defined terms deals with the noteholders and VZ. It looks like Crystallex is telling the noteholders they won't be part of the DIP financing like they wanted.

II. Defined Terms

Adverse Interest means an interest held or represented by a bidder that, in the
judgment of Crystallex and the Company Advisors, is adverse to Crystallex and
of the nature that, in the discretion of Crystallex and the Company Advisors (after
consultation with the Monitor), could disqualify such bidder from serving as the
Lender. Adverse Interests that must be disclosed by a bidder include, but are not
limited to:

(i) any and all pending or foreseeable litigation, arbitration,
administrative, or similar proceeding against Crystallex to which such bidder is a
party; (ii) any and all of such bidder’s connections with, contracts (including
without limitation, investment management and related services) with, or interests
involving (a) the Government of Venezuela, or (b) any entity owned by,
controlled by, and/or affiliated with the Government of Venezuela; and
(iii) commencing as of January 1, 2009 and through the date of execution of each
bidder’s NDA, any beneficial ownership of claims against or equity interests in
Crystallex, subject to the ongoing disclosure requirements described in section
V.B hereof.