Examples of ABL Borrowers in a sentence
The obligations under the Euro ABL Facility are secured, subject tocertain exceptions, by a first priority lien on substantially all of the assets of the Parent Guarantors, the European ABL Borrowers and the European ABL Guarantors, including, without limitation,accounts receivable, inventory, cash and cash equivalents, and a pledge of the common equity shares of certain direct and indirect wholly-owned subsidiaries of the Parent Guarantors.
Guarantee and Debenture, dated as of December 6, 2018, by each of the UK ABL Borrowers and UK ABL Guarantors in favor of Wells Fargo Capital Finance (UK) Limited, as UK security agent (incorporated by reference to Exhibit 10.32 of the Current Report on Form 8-K filed by the Company on December 10, 2018).
As a result of, among other things, the economic impact of COVID-19 on Hematite’s business, the ABL Borrowers breached certain of their financial and other covenants under the TD Facilities.
In addition to these challenges, the Prepetition ABL Lenders were unwilling to advance additional funding, even through a postpetition financing structure, to the Prepetition Foreign ABL Borrowers, and the borrowing base of the Prepetition Foreign ABL Borrowers prevents them from borrowing independently from the Company.
The obligations under the Euro ABL Facility are secured, subject to certain exceptions, by a first priority lien on substantially all of the assets of the Parent Guarantors, the European ABL Borrowers and the European ABL Guarantors, including, without limitation, accounts receivable, inventory, cash and cash equivalents, and a pledge of the common equity shares of certain direct and indirect wholly-owned subsidiaries of the Parent Guarantors.