Actions After Purchase Closing. (a) Promptly after the closing of the purchase of all First Lien Obligations pursuant to this Article 8, the applicable First Lien Agent will distribute the Purchase Price to the applicable First Lien Secured Parties in accordance with the terms of the applicable First Lien Documents.
(b) After the closing of the purchase of all Purchase Obligations pursuant to this Article 8, the Purchasing Creditors may request that each applicable First Lien Agent immediately resign as administrative agent and collateral agent under the applicable First Lien Documents, and each applicable First Lien Agent will immediately resign if so requested. Upon such resignation, a new administrative agent and a new collateral agent will be elected or appointed in accordance with the applicable First Lien Documents.
(c) The applicable First Lien Agent will apply cash collateral to reimburse the “Issuing Banks” (or similar term as defined in the applicable First Lien Debt Facility) for drawings under letters of credit issued under any First Lien Debt Facility, any customary fees charged by the issuer in connection with such draws, and facing or similar fees. When all such letters of credit have been cancelled with the consent of the beneficiary thereof, expired, or been fully drawn, and after all payments from the account described above have been made, any remaining cash collateral will be returned to the Purchasing Creditors, as their interests appear. If for any reason the cash collateral is less than the amount owing with respect to any such letter of credit, then the Purchasing Creditors will, in proportion to their interests determined as of the time of demand for such reimbursement promptly reimburse the applicable First Lien Agent (who will then pay the applicable First Lien Secured Parties) the amount of the deficiency.
Actions After Purchase Closing. (a) Promptly after the closing of the purchase of all Senior Lien Obligations pursuant to this Article 8, the Senior Lien Agent will distribute the Purchase Price to the Senior Lien Secured Parties in accordance with the terms of the Senior Lien Documents.
(b) After the closing of the purchase of all Purchase Obligations pursuant to this Article 8, the Purchasing Creditors may request that the Senior Lien Agent immediately resign as administrative agent and collateral agent under the Senior Lien Documents and the Senior Lien Agent will immediately resign if so requested. Upon such resignation, a new administrative agent and a new collateral agent will be elected or appointed in accordance with the Senior Lien Documents.
Actions After Purchase Closing. (a) Promptly after the closing of the purchase of all Purchase Obligations, the First Lien Agents will distribute the Purchase Price to their respective First Lien Claimholders in accordance with the terms of their respective First Lien NPAs.
(b) After the closing of the purchase of all Purchase Obligations, the Purchasing Creditors may request that the First Lien Agents immediately resign. Upon such resignation, new agents will be elected or appointed in accordance with the First Lien Documents.
Actions After Purchase Closing. Promptly after the closing of the purchase of all Priority Lien Note Obligations, the Priority Lien Agent will distribute the Purchase Price to the Priority Lien Trustee, which will promptly distribute the Purchase Price to the Priority Lien Secured Parties in accordance with the terms of the Priority Lien Indenture.
Actions After Purchase Closing. Promptly after the closing of the purchase of all Purchase Obligations, (i) First Lien Nexstar Agent will distribute the Purchase Price allocable to the First Lien Nexstar Obligations to First Lien Nexstar Claimholders, and (ii) First Lien Mission Agent will distribute the Purchase Price allocable to First Lien Mission Obligations to First Lien Mission Claimholders, in accordance with the terms of the First Lien Nexstar Loan Documents and First Lien Mission Loan Documents, respectively.
Actions After Purchase Closing. (i) Promptly after the closing of the purchase of all Indebtedness, the Administrative Agent will distribute the Purchase Price to Lenders in accordance with the terms of the Loan Documents.
(ii) After the closing of the purchase of all Indebtedness, the Purchasing Creditors may request that Administrative Agent immediately resign as administrative agent and, if applicable, collateral agent under the Loan Documents, and the Administrative Agent will immediately resign if so requested. Upon such resignation, a new administrative agent and, if applicable, a new collateral agent will be elected or appointed in accordance with the Loan Documents.
Actions After Purchase Closing. Promptly after the closing of the purchase of all Purchase Obligations, the First Lien Agent will distribute the Purchase Price to the First Lien Creditors in accordance with the terms of the First Lien Documents. The First Lien Agent shall promptly turn over all possessory collateral to the Second Lien Creditor. After the closing of the purchase of all Purchase Obligations, the Second Lien Creditor may request that First Lien Agent immediately resign as administrative agent and, if applicable, collateral agent under the First Lien Transaction Documents, and First Lien Agent will immediately resign if so requested. Upon such resignation, a new administrative agent and, if applicable, a new collateral agent will be elected or appointed in accordance with the First Lien Transaction Documents.
Actions After Purchase Closing. Promptly after the closing of the purchase of all Purchase Obligations, the Senior Agent will distribute the Purchase Price to the Senior Lenders in accordance with the terms of the Senior Loan Documents.
Actions After Purchase Closing. Promptly after the closing of the purchase of all Purchase Obligations, the ABL Agent will distribute the Purchase Price to the ABL Creditors in accordance with the terms of the ABL Documents.
Actions After Purchase Closing. Promptly after the closing of the purchase of all Purchase Obligations, the Administrative Agent will distribute the Purchase Price to the First Lien Claimholders in accordance with the terms of the Loan Documents.
