DIP Facility Claims. The DIP Facility Claims shall be Allowed in the amount provided under the DIP Note Purchase Agreement. On the Effective Date, subject to the terms of the DIP Note Purchase Agreement, each Holder of a DIP Facility Claim shall receive, in full and final satisfaction, settlement, release and discharge of its DIP Facility Claim, its Pro Rata share of (i) Cash in an amount equal to the DIP Facility Effective Date Repayment Amount and (ii) (at each such Holder’s election) the Roll-Over Notes or the loans under the Roll-Over Facility (if any). All distributions to Holders of DIP Facility Claims under this provision on account of DIP Facility Claims shall be made by the Debtors to the DIP Agent for delivery by the DIP Agent to individual Holders of such Claims in accordance with the provisions of the DIP Note Purchase Agreement, or as otherwise agreed between the DIP Agent and any Holder of an Allowed DIP Facility Claim.
DIP Facility Claims. On the Effective Date, if not previously repaid in full, all DIP Facility Claims shall be paid in full in Cash, or otherwise satisfied in a manner acceptable to the DIP Agent and each DIP Lender.
DIP Facility Claims. On the Effective Date, all obligations under the DIP Facility (“DIP Facility Claims”) shall be paid in full as follows: (A) if a Sale Transaction is consummated, DIP Facility Claims shall be paid in full in cash from the proceeds of the Sale Transaction; and (B) if a Reorganization Transaction is consummated, after applying any Partial Sale Proceeds, either (1) the outstanding principal amount under the DIP Facility as of the Effective Date (plus the Exit Fee under the DIP Facility) shall be rolled-over into the Exit Term Loan Facility (and any unpaid fees, interest or other amounts outstanding will be paid in cash) and the holders of the DIP Facility Claims shall receive their pro rata share of New Warrants (as defined below), together with the Priming Facility Claims, or (2) the DIP Facility Claims shall be paid in full in cash with the proceeds of an Acceptable Exit Facility.
DIP Facility Claims. As of the Effective Date, the DIP Facility Claims shall be Allowed Claims in the full amount outstanding under the DIP Loan Documents, including principal, interest, fees, and expenses. Except to the extent that a holder of an Allowed DIP Facility Claim agrees to a less favorable treatment, in full and final satisfaction, settlement, release, and discharge of, and in exchange for, each Allowed DIP Facility Claim (subject to the last sentence of this Article II.D), each holder of an Allowed DIP Facility Claim shall receive its Pro Rata share of participation in the Exit RBL/Term Loan A Facility and all commitments under the DIP Credit Agreement shall terminate. Upon the indefeasible payment or satisfaction in full of the DIP Facility Claims in accordance with the terms of this Article II.D, on the Effective Date all Liens and security interests granted to secure such obligations shall be automatically terminated and of no further force and effect, without any further notice to or action, order, or approval of the Bankruptcy Court or any other Entity.
DIP Facility Claims. On the Plan Effective Date, all DIP Claims shall (i) be paid in full in cash, or (ii) receive such other treatment as may be consented to by the holders of DIP Claims. Administrative, Priority Tax, and Other Priority Claims Each holder of an allowed administrative, priority tax, or other priority claim (the “Administrative and Priority Claims”) shall be paid in full in cash on the Plan Effective Date or in the ordinary course of business as and when due, or otherwise receive treatment consistent with the provisions of section 1129(a) of the Bankruptcy Code. Other Secured Claims On or as soon as practicable after the Plan Effective Date, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for any secured claim that is not an Administrative and Priority Claim (an “Other Secured Claim”), the holder of such Other Secured Claim shall receive (i) payment in cash in an amount equal to such Other Secured Claim, (ii) the collateral securing such Other Secured Claim, or (iii) such other treatment so as to render such Other Secured Claim unimpaired pursuant to section 1124 of the Bankruptcy Code. Credit Facility Claims On the Plan Effective Date, each holder of an allowed Credit Facility Claim shall receive its pro rata share of 32.5% of Newco Valaris Equity. Pride Bond Claims On the Plan Effective Date, each holder of an allowed Pride Bond Claim shall receive its pro rata share of (x) 8.8% of (i) the Senior Note Equity Pool,3 (ii) the Subscription Rights, and (y) an aggregate $1.25 million payment in cash. Ensco International Bond Claims On the Plan Effective Date, each holder of an allowed Ensco International Bond Claim shall receive its pro rata share of 1.5% of (i) the Senior Note Equity Pool and (ii) the Subscription Rights. Jersey Bond Claims On the Plan Effective Date, each holder of an allowed Jersey Bond Claim shall receive its pro rata share of 20.2% of (i) the Senior Note Equity Pool and (ii) the Subscription Rights. Vxxxxxx Xxxx Claims On the Plan Effective Date, each holder of an allowed Vxxxxxx Xxxx Claim shall receive its pro rata share of 36.8% of (i) the Senior Note Equity Pool and (ii) the Subscription Rights. Legacy Rxxxx Xxxx Claims On the Plan Effective Date, each holder of an allowed Legacy Rxxxx Xxxx Claim shall receive its pro rata share of (x) 32.6% of (i) the Senior Note Equity Pool, (ii) the Subscription Rights, and (y) an aggregate $23.75 million payment in cash.
DIP Facility Claims. Except to the extent that a holder of a DIP Facility Claim agrees to less favorable treatment, to the extent the Debtors exercise the Exit Conversion, each holder of a DIP Facility Claim shall receive Exit Facility Notes in a face amount equal to the amount of such DIP Facility Claim and shall otherwise be governed by the Exit Facility Documents. If the Debtors do not exercise the Exit Conversion, each holder of a DIP Facility Claim shall receive payment in full in Cash plus the Prepayment Penalty.
DIP Facility Claims. Allowed DIP Facility Claims shall not be classified under the Plan and shall be paid in full in Cash with the proceeds of the Exit Facility.
DIP Facility Claims. Estimated allowed claims: approximately $18.1 million4 a. SEACOR shall buy out the portion of the DIP Facility funded by DVB. b. SEACOR shall receive 64.4% of the ownership interests in Reorganized ISH (the “DIP Equity Interests”).
DIP Facility Claims. In the event a DIP Facility is obtained, Allowed DIP Facility Claims shall not be classified under the Plan and to the extent not previously repaid, shall be paid in full in Cash on the Effective Date.
DIP Facility Claims. On the Plan Effective Date, all DIP Claims shall (i) be paid in full in cash, or (ii) receive such other treatment as may be consented to by the holders of DIP Claims. Administrative, Priority Tax, and Other Priority Claims Each holder of an allowed administrative, priority tax, or other priority claim (the “Administrative and Priority Claims”) shall be paid in full in cash on the Plan Effective Date or in the ordinary course of business as and when due, or otherwise receive treatment consistent with the provisions of section 1129(a) of the Bankruptcy Code. Other Secured Claims On or as soon as practicable after the Plan Effective Date, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for any secured claim that is not an Administrative and Priority Claim (an “Other Secured Claim”), the holder of such Other Secured Claim shall receive (i) payment in cash in an amount equal to such Other Secured Claim, (ii) the collateral securing such Other Secured Claim, or (iii) such other treatment so as to render such Other Secured Claim unimpaired pursuant to section 1124 of the Bankruptcy Code.
