ABL Facility Sample Clauses

ABL Facility. Notwithstanding anything to the contrary in Sections 2.03(b) and (e), if any Indebtedness under any ABL Facility is outstanding, to the extent a prepayment or cash collateralization of letters of credit is required under such ABL Facility due to any Net Proceeds or Extraordinary Receipts constituting the proceeds of ABL Priority Collateral, no prepayment shall be required under Sections 2.03(b) and (e) to the extent of such required payment under such ABL Facility.

ABL Facility. The ABL Credit Agreement shall have been amended as required in connection with this Agreement and such amendment shall be satisfactory to the Administrative Agent and the Majority Lenders in their reasonable discretion.

ABL Facility. (i) an executed copy of a lien termination agreement by and among the U.S. Obligors, Luxfer Group Limited and Bank of America, N.A., as security trustee, in respect of the ABL Facility, in Agreed Form and certified by a director of the Parent Guarantor as correct, complete and in full force and effect, and as not having been amended, novated, supplemented, superseded or terminated as at the date of the Closing, (ii) an executed copy of a Deed of Release between Bank of America N.A., as security trustee, and certain of the Obligors in respect of the ABL Facility, in Agreed Form and certified by a director of the Parent Guarantor as correct, complete and in full force and effect, and as not having been amended, novated, supplemented, superseded or terminated as at the date of the Closing, and (iii) a copy of the cancellation notice served under the ABL Facility, certified by a director of the Parent Guarantor as correct, complete and in full force and effect.

ABL Facility. The Collateral Agent acknowledges, on behalf of itself and each other Secured Party, that (i) the ABL Facility is secured by liens on the ABL Priority Collateral that are senior in priority to the liens on such ABL Priority Collateral that secures the Obligations as provided in the ABL Intercreditor Agreement and (ii) any provision of this Agreement to the contrary notwithstanding, until the Discharge of ABL Obligations, the Pledgors shall not be required to act or refrain from acting pursuant to this Agreement or with respect to any ABL Priority Collateral in any manner that would result in a default under the terms and provisions of the ABL Facility.

ABL Facility. Substantially concurrently with the satisfaction of the other conditions precedent set forth in this subsection 5.1, the Borrower and certain direct and indirect Subsidiaries of the Acquired Business Parent shall have entered into the ABL Credit Agreement.

ABL Facility. The conditions to effectiveness of the ABL Credit Agreement shall have been satisfied, the ABL Credit Agreement shall be in full force and effect and the Borrower shall have borrowed no greater than $24,000,0000 in aggregate principal amount of loans and other extensions of credit thereunder.

ABL Facility. (i) The Company, the Company Subsidiaries and the ABL Facility lenders shall have entered into definitive documentation for the ABL Facility reflecting the terms of the ABL Facility Commitment Papers, in form and substance reasonably satisfactory to Investor, and the syndication (without taking into account the exercise of any flex provisions) of the commitments and loans, and the identity of each lender, under the ABL Facility shall have been reasonably satisfactory to Investor, (ii) no provision of the ABL Facility Commitment Papers or the definitive documentation for the ABL Facility shall have been waived, amended, supplemented or otherwise modified by any party thereto in a manner that is not in form and substance satisfactory to Investor, (iii) with respect to any matter to which the Company or any Company Subsidiary has consultation rights under the ABL Facility Commitment Papers, the Company or such Company Subsidiary shall have involved Investor substantially in any consultation process related thereto, and with respect to any matter to which the Company or any Company Subsidiary has consent or approval rights under the ABL Facility Commitment Papers, the Company or such Company Subsidiary shall have first obtained the consent or approval of Investor (such consent or approval not to be unreasonably withheld) before providing its consent or approval under the ABL Facility Commitment Papers with respect thereto, (iv) all conditions to borrowing under the ABL Facility shall have been satisfied or waived (with any such waiver to be in form and substance satisfactory to Investor) on or prior to the Closing, and (v) on the Closing (A) there shall not be any event or condition which constitutes an event of default, or which upon notice, lapse of time, or both would become an event of default, under the ABL Facility and (B) the ABL Facility shall be in full force and effect.

ABL Facility. ABL Facility Amendment Upon the consummation of the Restructuring and the transactions contemplated thereby (excluding the Rights Offering (as defined below)) (the “Closing Date”), the ABL Facility shall be amended (the “Facility Amendment”) such that the $125 million commitment shall be reduced to $100 million. In addition: 1. The ABL advance rate shall be frozen at 80% from and after the Closing Date. 2. There shall be a 0.35% commitment fee payable to the lenders under the ABL Facility and a collateral management fee of $2,500/month payable to the agent under the ABL Facility. 3. The agent under the ABL Facility shall be granted cash dominion and the right to a daily cash sweep. 4. Replacement of existing secured leverage ratio covenant with minimum cumulative EBITDA based on a 20% cushion to the Company’s projections for the four months ending on April 30, 2016, and a 15% cushion to the Company’s projections thereafter, in each case, tested monthly. 5. Mandatory application of proceeds of the New First Lien Term Loan and the Rights Offering to pay down the ABL Facility.

ABL Facility. In the event any Guarantor shall create any additional security interest upon any property or assets (other than Excluded Property) to secure any ABL Facility Indebtedness Permitted Ratio Debt or any Permitted Refinancing of the foregoing, it shall concurrently grant a security interest to the Collateral Agent for the benefit of the Secured Parties upon such property as security for the Secured

ABL Facility. The Credit Parties shall have concurrently entered into the ABL Facility, and shall have provided a copy of the ABL Credit Agreement to the Administrative Agent, which shall be on terms and conditions reasonably satisfactory to the Administrative Agent.