DIP Facility Claims Sample Clauses

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. 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, 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. 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. V▇▇▇▇▇▇ ▇▇▇▇ Claims On the Plan Effective Date, each holder of an allowed V▇▇▇▇▇▇ ▇▇▇▇ Claim shall receive its pro rata share of 36.8% of (i) the Senior Note Equity Pool and (ii) the Subscription Rights. Legacy R▇▇▇▇ ▇▇▇▇ Claims On the Plan Effective Date, each holder of an allowed Legacy R▇▇▇▇ ▇▇▇▇ 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. In full and final satisfaction, settlement, release, and discharge of, and in exchange for, the Allowed DIP Facility Claims (subject to the last sentence of this Section 2.3), such Allowed DIP Facility Claims shall be paid in full in Cash by the Debtors on the Effective Date equal to the Allowed amount of such DIP Facility Claims and all commitments under the DIP Facility Documents shall terminate. Upon the indefeasible payment or satisfaction in full in Cash of the DIP Facility Claims (other than any DIP Facility Claims based on the Debtors’ contingent obligations under the DIP Facility Documents for which no claim has been made) in accordance with the terms of this Plan, on the Effective Date, all Liens granted to secure such obligations automatically shall be terminated and of no further force and effect. The Debtors’ contingent or unliquidated obligations under the DIP Facility Documents, to the extent not indefeasibly paid in full in Cash on the Effective Date or otherwise satisfied by the Debtors in a manner acceptable to the DIP Facility Agent, any affected DIP Facility Lender, or any other holder of a DIP Facility Claim, as applicable, shall survive the Effective Date and shall not be released or discharged pursuant to this Plan or Confirmation Order, notwithstanding any provision hereof or thereof to the contrary.

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. 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. Except to the extent that a holder of a DIP Facility Claim agrees to less favorable treatment, in full and final satisfaction, settlement, release, and discharge of, and in exchange for each DIP Facility Claim, on the Effective Date each holder of a DIP Facility Claim shall receive its Pro Rata share (determined based on the aggregate principal amount of DIP Facility Claims held by such Holder as a percentage of all DIP Facility Claims outstanding on the Effective Date) of the New Common Equity Interests DIP Pool (subject to dilution by the MIP Equity).

DIP Facility Claims. On the Effective Date or the date such DIP Facility Claim becomes payable pursuant to any agreement between PSC and the holder of such DIP Facility Claim, each holder of an Allowed DIP Facility Claim shall receive in full satisfaction, settlement, release and discharge of and in exchange for such Allowed DIP Facility Claim (a) cash equal to the unpaid portion of such Allowed DIP Facility Claim or (b) such other treatment as to which PSC, with the consent of the Required Lenders, and such holder shall have agreed upon in writing.