DIP Facility. Capitalized terms used but not defined in this Section 5.02 shall have the meaning set forth in the DIP Loan Documents and DIP Orders.
DIP Facility. The Company shall enter into the DIP Facility on terms and conditions that are reasonably satisfactory to the Requisite Commitment Parties, it being understood that the DIP Facility contemplated by that certain Commitment Letter, dated as of the date hereof, is deemed satisfactory to the Requisite Commitment Parties and consistent with the terms set forth in the Term Sheet and the RSA.
DIP Facility. There shall be an event of default and an acceleration of obligations under the DIP Facility or a payment default under the DIP Facility.
DIP Facility. Subject to the terms and conditions of, and in reliance upon the representations and warranties made in, this Agreement and the other DIP Financing Documents, Lender agrees to make the DIP Facility available to Borrowers, in an aggregate amount up to the Commitment, as follows:
DIP Facility. The Administrative Agent shall have received reasonably satisfactory evidence that (i) the commitments under the DIP Facility have been terminated, all letters of credit issued thereunder (other than the Existing DIP Letters of Credit) shall have expired or been cancelled, and all amounts outstanding thereunder (including, without limitation, all fees accrued but unpaid thereunder to the Closing Date, whether or not then payable under the terms thereof) have been repaid in full (which termination and repayment may be contemporaneous with the satisfaction of the conditions under this Section and the application of proceeds of any Borrowings and the issuance of any Letters of Credit to occur on the Closing Date); and (ii) satisfactory arrangements shall have been made for the termination of all Liens and guarantees granted in connection therewith.
DIP Facility. The DIP Facility Backstop Lenders will agree to backstop a senior secured superpriority delayed draw term loan facility in an aggregate principal amount of up to $100.0 million (the “DIP Facility”, the loans made thereunder (which shall be denominated in dollars) (the “DIP Loans”) and the commitments to make such DIP Loans (the “DIP Commitments”)) on the terms and conditions set forth herein and in the DIP Loan Documents (as defined below). TheEach DIP Backstop LendersLender shall provide no less than 60% ofsuch DIP Backstop Lender’s pro rata share (based on Total Credit Exposure (as defined in the Prepetition Credit Agreement), without regard to any Total Credit Exposure held by Lenders under the Prepetition Credit Agreement other than the DIP Backstop Lenders) of 60% of the aggregate DIP Commitments. Rights (the “DIP Participation Rights”) to up to 40% of the aggregate DIP Commitments (the “DIP Participation Amount”) shall be offered for participation by the DIP Participatingto the Lenders under the Prepetition Credit Agreement that are party to the Restructuring Support Agreement, other than the DIP Backstop Lenders, in each case up to such DIP Participating Lender’s pro rata share (based on Total Credit Exposure (as defined in the Prepetition Credit Agreement), without regard to any Total Credit Exposure held by the DIP Backstop Lenders) of the DIP Participation Amount. To the extent any portion of the DIP Participation Amount is not filled by a DIP Participating Lender, such amountRights are not exercised, such corresponding portions of the DIP Participation Amount shall be allocated to, and added to the commitments of, the DIP Backstop Lenders. on a pro rata basis (based on Total Credit Exposure, without regard to any Total Credit Exposure held by Lenders under the Prepetition Credit Agreement other than the DIP Backstop Lenders).
DIP Facility. (a) Lender agrees, during the Term and for so long as no Default or Event of Default exists and subject to the terms of this Agreement, to make Loan Advances to Borrower in an aggregate amount not to exceed the Maximum Amount. The proceeds of Loan Advances shall be used only for those items on the Budget, which Lender has approved, which includes the expenses of Oil & Gas and certain expenses of Energy, and which shall be limited to (a) general and administrative expenses related to the business of Oil & Gas, (b) fees incurred by the Borrower’s professionals as allocated by the Budget, and (c) certain, limited, expenses relating to corporate overhead and governance.
DIP Facility. Claims The claims under the DIP Facility will either be, at the election of each DIP Lender, (i) paid in full in cash and, solely with respect to the DIP Payments, to the extent the DIP Payments are paid in New Common Equity, New Common Equity, or (ii) such other treatment acceptable to such DIP Lender. Administrative Expense Claims Except to the extent a holder of an allowed Administrative Expense Claim agrees to less favorable treatment, each holder of an allowed Administrative Expense Claim will receive cash equal to the full unpaid amount of such allowed Administrative Expense Claim, which payments shall be made in the ordinary course of business or on the later of the Plan Effective Date and the date on which such claim becomes an allowed claim (or as soon as reasonably practicable thereafter).
DIP Facility. On the Effective Date, the claims in connection with the DIP Facility, if any, shall be paid in full, in cash, unless otherwise agreed by the lender. If the DIP Facility is not paid in full by agreement of the lender, the underlying Claim shall continue in full force and effect and all DIP liens shall continue against Reorganized USEC until such Claim is paid in full.
DIP Facility. The Company and the Seller shall each enter into and deliver the DIP Facility promptly after the approval thereof by the Bankruptcy Court, and the Seller agrees to fund, or cause to be funded, the advances required to be made under the DIP Facility subject to the terms and conditions set forth therein. The initial Budget referenced in the DIP Facility is attached hereto as Exhibit 5.19.
