87.5% of construction costs. MARAD's guarantee was secured by a lien on the vessels. On April 8, 1999, the Debtors received a commitment from MARAD for up to $1.1 billion in financing guarantees.
d. Headquarters Relocation.
On September 8, 2000, the Debtors announced their intention to relocate their corporate and operational headquarters from Chicago and New Orleans to a new leased facility in Sunrise, Florida. Construction *505 of the new headquarters was expected to be completed by November 2001 and relocation to be largely completed by early 2002.
The Chase Facility.
On February 25, 1999, DQSC, and certain of its subsidiaries and affiliates, entered into a syndicated loan agreement with JPMorgan Chase Bank, Hibernia Bank, Bank One Louisiana, NA, Credit Agicole Indosuez and The Bank of New York. The loan agreement provideda $70,000,000 revolving line of credit facility to DQSC (the "Chase Facility").
The Annual Report for Year Ended December 31, 1999 filed on Form 10-K with the Securities and Exchange Commission stated that the Chase Facility was "secured by all of the assets of The Delta Queen Steamboat Company, except for the American Queen." In particular, the Chase Facility was secured by pledges and first priority ship mortgages encumbering two of the Debtors' riverboats (the Mississippi Queen and the Delta Queen), and, generally, by certain miscellaneous assets consisting of the reservation system, inventory, customer database and related trademarks and tradenames.
On September 14, 2000, the Chase Facility was amended and restated, reducing the amount of the facility to $30 million (the "Amended and Restated Chase Facility"), of which $500,000 was