Exit Financing Credit AgreementExit Financing Credit Agreement • April 21st, 2006 • Pliant Corp • Plastics, foil & coated paper bags
Exit Financing. On the Effective Date, without any requirement of further action by security holders or directors of New Pliant, the Debtors or Reorganized Debtors, New Pliant and the Reorganized Debtors shall be authorized and directed to enter into the Exit Facility Credit Agreement, as well as any notes, documents or agreements in connection therewith, including, without limitation, any documents required in connection with the creation or perfection of the liens on the exit facility collateral. The Exit Facility Credit Agreement shall be designated as a Senior Credit Agreement pursuant to the terms of the Intercreditor Agreement. The final terms of the Exit Facility Credit Agreement and related documents will be filed by the Debtors as part of the Plan Supplement. The principal terms of the Exit Financing Credit Facility will be no less favorable to the Reorganized Debtors than the following:
FORM OF EXIT FINANCING TERM SHEETExit Financing Credit Agreement • April 12th, 2006 • Pliant Corp • Plastics, foil & coated paper bags
Exit Financing. On the Effective Date, without any requirement of further action by security holders or directors of New Pliant, the Debtors or Reorganized Debtors, New Pliant and the Reorganized Debtors shall be authorized and directed to enter into the Exit Facility Credit Agreement, as well as any notes, documents or agreements in connection therewith, including, without limitation, any documents required in connection with the creation or perfection of the liens on the exit facility collateral. The Exit Facility Credit Agreement shall be designated as a Senior Credit Agreement pursuant to the terms of the Intercreditor Agreement. The principal terms of the Exit Financing Credit Facility will be no less favorable to the Reorganized Debtors than the following:
