Type and Amount of the DIP Facility Sample Clauses

Type and Amount of the DIP Facility. A multi-draw superpriority senior secured priming debtor-in-possession term loan credit facility (the “DIP Facility”), in an aggregate principal amount of up to $62.5 million. Borrowings under the DIP Facility (the “DIP Loans”) shall, subject to the borrowing conditions set forth herein, in the DIP Credit Agreement and in the applicable DIP Order, be incurred as follows:
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Type and Amount of the DIP Facility. A non-amortizing super-priority senior secured term loan facility in an aggregate principal amount not to exceed $70,000,000 (the “Maximum DIP Commitment Amount”) consisting of up to $70,000,000 in term loan commitments (the “DIP Facility”; the definitive documentation evidencing the DIP Facility being the “DIP Documents”; the DIP Lender’s commitments under the DIP Facility being the “DIP Commitments”; and the loans under the DIP Facility being the “DIP Loans”). • The borrowing of DIP Loans shall permanently decrease the DIP Commitments and DIP Loans repaid (for any reason) may not be reborrowed unless (and solely to the extent that) they are repaid prior to the entry of the Final Order (as defined below). • Loan proceeds to be funded into newly established (or, in the case of the Carve-out Account referred to below, a previously established (expressly for such purpose pursuant to Existing DIP Credit Agreement)) funding accounts, including a carve-out account (to be fully funded (to the extent of any deficiency) in the amount of the Post-Carve-out Notice Amount (as such term shall be defined in the Orders) from the Initial Draw) (the “Carve-out Account”), each to be initially maintained at Bank of America, N.A.
Sample 1Sample 2
Type and Amount of the DIP Facility. A new money non-amortizing multiple draw term loan facility in an aggregate principal amount not to exceed $5 million (the “DIP Facility”; the DIP Lender’s commitment under the DIP Facility, the “DIP Commitment”; the loans under the DIP Facility, the “DIP Loans”). The DIP Loans will be made for purposes not inconsistent with the Budget (as defined below). The DIP Loans may be incurred during the Availability Period (as defined below) upon periodic draw requests made by the Debtors to the DIP Lender setting forth the amounts that the Debtors desire to borrow under the DIP Facility (each a “Draw Request”). The Debtors shall not be permitted to submit any Draw Request (and the DIP Lender shall not be required to honor any such Draw Request) seeking DIP Loans greater than the Debtors’ anticipated borrowings set forth in the Budget (taking into consideration any Permitted Variances (defined below)) for the two week period immediately following the date of such Draw Request (after taking into account any prior DIP Loans advanced with respect to such period). The Absent the consent of the DIP Lender, the Debtors shall not be permitted to submit a Draw Request more than once per calendar week. The date that the DIP Lender honors any Draw Request by making a DIP Loan shall be referred to herein as a “Draw Date.” Once repaid, the DIP Loans incurred under the DIP Facility cannot be reborrowed. Credit Bidding: The Orders (as defined below) and the DIP Loan Documents shall provide that, in connection with any sale of any of the Debtors’ assets under section 363 of the Bankruptcy Code or under a plan of reorganization (i) the Prepetition Lender shall have the right to credit bid the full amount of all amounts due and outstanding under the Prepetition Loan Documents (the “Prepetition Obligations”), and (ii) the DIP Lender shall have the right to credit bid all amounts outstanding under the DIP Facility, in each case, in accordance with section 363(k) of the Bankruptcy Code.
Sample 1
Type and Amount of the DIP Facility. Multiple-draw superpriority senior secured priming debtor-in-possession term loan facility (the “DIP Facility”), consisting of new money term loans in an aggregate principal amount not to exceed $115.0 million, which shall consist of tranche A term loans in an aggregate principal amount not to exceed $30.0 million (the “Tranche A DIP Loans”) and tranche B term loans in an aggregate principal amount not to exceed $85.0 million (the “Tranche B DIP Loans”, and together with the Tranche A DIP Loans, the “DIP Loans”). The commitments under the DIP Facility relating to the Tranche A DIP Loans are referred to herein as the “Tranche A DIP Commitments” and the commitments under the DIP Facility relating to the Tranche B DIP Loans are referred to herein as the “Tranche B DIP Commitments”. The Tranche A DIP Commitments and Tranche B DIP Commitments are referred to herein as the “DIP Commitments”. The DIP Loans will be made solely for the purposes set forth under “Use of Proceeds” below. The Debtors shall not be permitted to incur Tranche A DIP Loans in excess of $30.0 million without the prior written consent of the Tranche B DIP Lenders (excluding the payment of the Tranche A PIK Commitment Fee).
Sample 1
Type and Amount of the DIP Facility. A non-amortizing multiple draw super-priority senior secured term loan facility (the “DIP Facility”, the definitive documentation evidencing such facility shall, except as otherwise set forth herein, be based upon the Credit Agreement and give due regard to the debtor-in-possession financing nature of the DIP Facility, the “Definitive Documentation”) in an aggregate principal amount not to exceed $55,000,000 (the DIP Lenders’ commitments under the DIP Facility, the “DIP Commitments”; and the loans under the DIP Facility, the “DIP Loans”). The borrowing of DIP Loans shall permanently decrease the DIP Commitments, and DIP Loans repaid may not be reborrowed.
Sample 1
Type and Amount of the DIP Facility. A senior secured superpriority debtor-in-possession delayed draw term loan credit facility in an aggregate principal amount not to exceed $175,000,000 (the “DIP Facility Loans” and such facility, the “DIP Facility”), which shall consist of (i) $75,000,000 of new money DIP Facility Loans (the “DIP New Money Loans”) and (ii) upon entry of the Final Order (as defined below), $100,000,000 of Existing Term Loans held by DIP Lenders to be “rolled” up on a pro rata basis into DIP Facility Loans on a cashless, dollar-for-dollar basis. The commitments to make the DIP Loans are referred to herein as the “DIP Commitments”. The DIP New Money Loans shall (subject to the DIP Orders (as defined below) and the borrowing conditions set forth in Exhibit A attached hereto) be incurred in amounts and at times to be agreed. Once repaid or prepaid, no portion of the DIP Loans may be reborrowed.
Sample 1

Related to Type and Amount of the DIP Facility

  • Amount of Revolving Advances Subject to the terms and conditions set forth in this Agreement including Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrowers in aggregate amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate Maximum Undrawn Amount of all outstanding Letters of Credit or (y) an amount equal to the sum of:

  • Revolving Loan Facility On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to the Borrower from time to time during the period beginning on the Effective Date up to, but not including the Termination Date, such loans in Dollars as the Borrower may request under this Section 2.01(b) (individually, a “Revolving Loan”); provided, however, that (i) the sum of (A) the Effective Amount of all Revolving Loans made by such Lender at any time outstanding and (B) such Lender’s Revolving Proportionate Share of the Effective Amount of all L/C Obligations and all Swing Line Loans at any time outstanding shall not exceed such Lender’s Revolving Loan Commitment at such time and (ii) the sum of (A) the Effective Amount of all Revolving Loans made by all of the Revolving Lenders at any time outstanding and (B) the Effective Amount of all L/C Obligations and Swing Line Loans at any time outstanding shall not exceed the Revolving Loan Facility at such time. All Revolving Loans shall be made on a pro rata basis by the Revolving Lenders in accordance with their respective Revolving Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Revolving Lender equal to such Lender’s Revolving Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein, the Borrower may borrow, repay and reborrow Revolving Loans until the Termination Date in respect of the Revolving Loan Facility.

  • Amount of facility Subject to the other provisions of this Agreement, the Lender shall make available to the Borrowers a loan facility not exceeding $130,000,000 to be drawn in a single advance.

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

  • Term Loan Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrower during the period from the Closing Date to June 20, 2003, in an aggregate amount not to exceed such Lender's Pro Rata Share of the Term Commitment. The Borrower from time to time may borrow under the Term Loan Facility (and may reborrow any amount theretofore prepaid) until close of business on June 20, 2003, for a term not to exceed 364 days from the date of the Borrowing. Each such loan under the Term Loan Facility (a "Term Loan") shall be in the minimum amount of $10,000,000 and shall become due and payable on the last day of the term selected by the Borrower for such Term Loan (the "Term Loan Maturity Date"), which shall in no event be later than 364 days from the date of such Term Loan. The maximum availability under the Term Loan Facility shall be the amount of the Credit minus the aggregate outstanding principal amount of Revolving Loans and Term Loans made by the Lenders; provided, however, that to the extent the proceeds of a Term Loan are used to repay an outstanding Revolving Loan (or a portion thereof), such Revolving Loan (or portion thereof) shall not be considered part of the aggregate principal amount of outstanding Revolving Loans made by the Lenders for purposes of this sentence (such maximum availability hereafter being referred to as the "Term Loan Availability"). Under no circumstances shall the aggregate outstanding principal amount of Term Loans and Revolving Loans made by the Lenders exceed the Credit, and under no circumstances shall any Lender be obligated (i) to make any Term Loan (nor may the Borrower reborrow any amount heretofore prepaid) after June 20, 2003, or (ii) to make any Term Loan in excess of the Term Loan Availability. Each Term Loan made hereunder shall fully and finally mature and be due and payable in full on the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan; provided, however, that to the extent the Borrowing Advice for any Term Loan selects an Interest Period that expires before the Term Loan Maturity Date specified in such Borrowing Advice, the Borrower may from time to time select additional interest rate options and Interest Periods (none of which shall extend beyond the Term Loan Maturity Date for such Term Loan) by delivering a Borrowing Advice or Notice of Conversion/Continuation, as applicable.

  • Revolving Facility During the Availability Period, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make a Revolving Loan or Revolving Loans to each Revolving Facility Borrower from time to time pursuant to such Lender’s Facility Commitment, which Revolving Loans: (i) may, except as set forth herein, at the option of each Revolving Facility Borrower, be incurred and maintained as, or Converted into, Revolving Loans that are US Base Rate Loans, Eurodollar Loans or Foreign Currency Loans, in each case denominated in Dollars or a Designated Foreign Currency, provided that all Revolving Loans made as part of the same Revolving Borrowing shall, unless otherwise specifically provided herein, be made to the same Revolving Facility Borrower and consist of Revolving Loans of the same Type; (ii) may be repaid or prepaid and re-borrowed in accordance with the provisions hereof; and (iii) shall not be made if, after giving effect to any such Revolving Loan, (A) the Revolving Facility Exposure of any Lender would exceed such Lender’s Facility Commitment, (B) the Aggregate Revolving Facility Exposure would exceed the Total Facility Commitment, (C) the Aggregate Revolving Facility Exposure at such time that is denominated in any Designated Foreign Currency would exceed the Maximum Foreign Exposure Amount or the Aggregate Canadian Sub-Facility Exposure would exceed the Total Canadian Commitment, (D) the Foreign Subsidiary Borrower Exposure would exceed the Maximum Foreign Exposure Amount, (E) the Aggregate Credit Facility Exposure would exceed the Maximum Credit Facility Amount, or (F) any Borrower would be required to prepay Loans or cash collateralize Letters of Credit pursuant to Section 2.12(b). The Revolving Loans to be made by each Lender will be made by such Lender in the Funding Amount applicable to such Lender at the time of the making of such Revolving Loan on a pro rata basis based upon such Lender’s Funding Percentage of the Revolving Borrowing at the time of such Revolving Borrowing, in each case in accordance with Section 2.07 hereof.

  • Minimum Amount of Each Borrowing; Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Loans shall be in a multiple of $100,000 and shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on any date; provided that at no time shall there be outstanding more than four (4) Borrowings of LIBOR Loans under this Agreement.

  • Amount of Borrowing The amount of such Borrowing shall be at Borrower’s option and shall be up to $20,000,000 but at least $10,000,000.

  • Increase in Revolving Credit Facility The references to “$15,000,000” in Section 2.1 of the Credit Agreement and in Section 2.2(a) of the Credit Agreement are deleted and are replaced by “$20,000,000”.

Time is Money Join Law Insider Premium to draft better contracts faster.