Exit Facility Term Sheet Sample Clauses
An Exit Facility Term Sheet is a document that outlines the key terms and conditions for a new credit facility that will be provided to a borrower upon their emergence from bankruptcy or restructuring. It typically specifies the amount of financing, interest rates, repayment terms, collateral requirements, and any covenants or conditions precedent to funding. By clearly setting out the framework for post-restructuring financing, this clause ensures that all parties understand the financial arrangements that will support the borrower's operations after exiting bankruptcy, thereby facilitating a smooth transition and reducing uncertainty.
Exit Facility Term Sheet. Hour Fitness Worldwide, Inc., a Delaware corporation (the “Borrower”). Guarantors: Reorganized Parent, 24 Hour Fitness Worldwide, Inc., ▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Inc., 24 Hour Fitness USA, Inc., 24 Hour Fitness Holdings LLC, RS FIT Holdings LLC, 24 San Francisco LLC, 24 New York LLC, 24 Denver LLC, RS FIT CA LLC, and RS FIT NW LLC 24 Hour Holdings II LLC (collectively, the “Guarantors”). The Borrower and the Guarantors are referred to herein as “Loan Parties” and each, a “Loan Party”.7
Exit Facility Term Sheet. Take-Back First Lien Facility Term Sheet SNLR Applicable Margin ($100M Paydown) Applicable Margin (at least $75M Paydown) Applicable Margin (at least $50M Paydown)
Exit Facility Term Sheet. Memorial Production Partners, L.P. Confidential Discussion Terms & Conditions December 20, 2016 CONFIDENTIAL DRAFT FRE 408 – SETTLEMENT COMMUNICATIONS Disclaimer CONFIDENTIAL DRAFT FRE 408 – SETTLEMENT COMMUNICATIONS The terms set forth in this Confidential Discussion Terms and Conditions (this “Document”) are being provided on a confidential basis as part of a comprehensive proposal, each element of which is consideration for the other elements and an integral aspect of the proposal. This Document is for discussion purposes only and is not a commitment for any financing arrangement. Any agreement to amend the Credit Agreement, dated as of December 20, 2011 (as amended, restated or otherwise modified from time to time), among Memorial Production Operating LLC, Memorial Production Partners, LP, ▇▇▇▇▇ Fargo Bank, National Association, as administrative agent (the “Agent”), and the lenders from time to time party thereto (the “Lenders”), will be subject to definitive documentation satisfactory to the Agent and the Lenders, each acting in its sole discretion, and approval from each such person’s internal credit committees (if any). The Agent cannot guarantee that any such approval will be sought or obtained by the Agent or the Lenders on these terms. This Document is proffered in the nature of a settlement proposal in furtherance of settlement discussions, and is intended to be entitled to the protections of Federal Rule of Evidence 408 and any other applicable statutes or doctrines protecting the use or disclosure of confidential information and information exchanged in the context of settlement discussions. Memorial Production Partners, LP 2 Restructuring Proposal CONFIDENTIAL DRAFT FRE 408 – SETTLEMENT COMMUNICATIONS Amortizing Borrowing Base (see page 5) Varies based on ▇▇▇▇▇▇ achieved, see page 4 Facility $480-500mm at Exit ( if January 2017 Exit); $460-475mm by Nov. ‘17 First BBRD Nov. ‘17; company gets one interim First lien on all assets Security Mortgages on no less than 95% of oil and gas assets Maturity March 2021 Leverage: 4.0x Financial Interest Coverage: 2.5x Covenants Current Ratio: 1.0x Leave $80mm of MTM in place ( in ‘17 and in ‘18) Commodity Monetize all other ▇▇▇▇▇▇ (prepetition) Within 10 days of exit add new ▇▇▇▇▇▇ until 50% of PDP through Cal’18. By FYE ‘17, must add 50% of PDP in Cal’19. All new ▇▇▇▇▇▇ with Hedging lenders only. Libor + 300-400 Pricing Grid 50 bps unused fee at all tiers Lender Fees Upfront fee: 100 bps Anti-Cash Ho...