DIP Credit Agreements definition

DIP Credit Agreements means the DIP ABL Credit Agreement and the DIP Term Loan Credit Agreement.

DIP Credit Agreements means the DIP ABL Agreement and the DIP Term Loan Agreement.

DIP Credit Agreements means, collectively, (a) that certain senior secured, super-priority debtor-in-possession credit agreement, dated as of May 17, 2022, by and among Parent, the other borrowers and guarantors party thereto, the lenders party thereto, and Bank of America, N.A., as administrative agent and collateral agent, as the same may be amended, restated, supplemented or refinanced from time to time in accordance with the DIP Order and (b) that certain senior secured, super-priority debtor-in-possession term loan agreement, dated as of May 17, 2022, by and among Parent, the other borrowers and guarantors party thereto, the lenders party thereto, and Pathlight Capital LP, as administrative agent and collateral agent, as the same may be amended, restated, supplemented or refinanced from time to time in accordance with the DIP Order.

Examples of DIP Credit Agreements in a sentence

• As of the Effective Date, the DIP Claims shall be Allowed and deemed to be Allowed Claims in the full amount outstanding under the DIP Credit Agreements, including principal, interest, fees, costs, other charges, and expenses.

• All of the Debtors’ contingent and unliquidated obligations under the DIP Credit Agreements, including, without limitation, the DIP Agents’ and the DIP Lenders’ rights to indemnification from the Debtors, to the extent any such obligation has not been paid in Cash in full on the Effective Date, shall survive the Effective Date and shall not be released or discharged pursuant to the Plan or Confirmation Order, notwithstanding any provision hereof or thereof to the contrary.

• Until all DIP Obligations shall have been indefeasibly paid and satisfied in full in cash in accordance with the terms of the DIP Credit Agreements and the other Loan Documents, no other party shall foreclose on any DIP Collateral in respect of any junior lien or claim.

• The CA Debtors shall at all times comply with the Budget, subject to the Permitted Variances, and the CA Debtors shall provide all reports and other information as required in the DIP Credit Agreements (subject to the grace periods provided therein).

• The CA Debtors’ failure to comply with the Budget (subject to the Permitted Variances) or to provide the reports and other information required in the DIP Credit Agreements shall constitute an Event of Default (as defined below), following the expiration of any applicable grace period set forth in the applicable DIP Credit Agreement.

More Definitions of DIP Credit Agreements

DIP Credit Agreements means, collectively the DIP Senior Loan Agreement and the DIP Term Loan Agreement.

DIP Credit Agreements means, collectively, the credit agreements for the DIP ABL Facility and the DIP Term Loan Facility substantially in the forms attached as Exhibit 1-A and Exhibit 1-B, respectively, to the Restructuring Term Sheet.

DIP Credit Agreements means the Senior DIP Credit Agreement and the Junior DIP Credit Agreement.

DIP Credit Agreements has the meaning set forth in the preamble to this Agreement.

DIP Credit Agreements means, collectively, the Verso DIP ABL Agreement, the NewPage DIP ABL Agreement, and the NewPage DIP Term Loan Agreement.

DIP Credit Agreements has the meaning set forth in the Restructuring Term Sheet. “DIP Facilities” has the meaning set forth in the Restructuring Term Sheet.

DIP Credit Agreements means, collectively, (a) that certain senior secured, super-priority debtor-in-possession credit agreement, dated as of May 17, 2022, by and among Seller, the other borrowers and guarantors party thereto, the lenders party thereto, and Bank of America, N.A., as administrative agent and collateral agent, as the same may be amended, restated, supplemented or refinanced from time to time in accordance with the DIP Order, and (b) that certain senior secured, super-priority debtor-in-possession term loan agreement, dated as of May 17, 2022, by and among Seller, the other borrowers and guarantors party thereto, the lenders party thereto, and Pathlight Capital LP, as administrative agent and collateral agent, as the same may be amended, restated, supplemented or refinanced from time to time in accordance with the DIP Order.