ABL DIP Facility definition

ABL DIP Facility means the debtor-in-possession credit facility, in an aggregate amount of up to$80,000,000, entered into on the terms and conditions set forth in the ABL DIP Facility Documents and the DIP Orders, and which shall refinance all amounts outstanding under the A/R Facility and satisfy all A/R Facility Claims, subject to the terms and conditions of the DIP Orders.

ABL DIP Facility means the revolving credit commitments and the loans made under the ABL DIP Credit Agreement.

ABL DIP Facility means the $80,000,000 debtor-in-possession credit facility to be provided to the Company Parties in accordance with the terms, and subject to the conditions, set forth in the ABL DIP Credit Agreement and the DIP Orders.

Examples of ABL DIP Facility in a sentence

• The Debtors’ access to the full amount of the borrowing base contemplated by the ABL DIP Facility requires that the Canadian Court recognize the Bankruptcy Court’s orders regarding the DIP Facilities.

• The ABL DIP Facility shall be in full force and effect and no “Default” or “Event of Default” (as defined in the ABL DIP Credit Agreement) shall have occurred and be continuing under the ABL DIP Credit Agreement that remains uncured or not expressly waived in writing by the ABL DIP Lenders.

• If the A/R Facility Claims are not satisfied with the proceeds of the ABL DIP Facility, on the Effective Date, the A/R Facility Claims shall be Allowed in the aggregate principal amount of $45,934,675, plus accrued and unpaid interest on such principal amountthrough the Petition Date and any fees and other expenses arising under or in connection with the A/R Facility Credit Agreement.

• Absent further order of this Court, the Debtors shall not create or permit to exist any post-petition liens or encumbrances on any of their assets or property except any post-petition liens allowed pursuant to the Term DIP Loan Documents, post-petition liens created in connection with the ABL DIP Facility and as otherwise agreed to by Term DIP Agent (acting at the direction of the Required Term DIP Lenders) in writing.

• At the First Day Hearing, the Court authorized the Debtors pursuant to the Interim DIP Order to (a) enter into the ABL DIP Facility comprised of a revolving loan facility in an aggregate principal amount not to exceed$305 million, (b) enter into the Term DIP Credit Facility comprised of a term loan facility in an aggregate amount not to exceed $80 million, and (c) use Cash Collateral on the terms set forth in the Interim DIP Order.

More Definitions of ABL DIP Facility

ABL DIP Facility means the new superpriority, asset-based, senior secured, debtor in possession revolving credit facility to be issued by the Reorganized Debtors in accordance with the ABL DIP Documents.

ABL DIP Facility means the $50 million debtor-in-possession asset-based loan facility to be provided to the Debtors in accordance with the terms and conditions of, and subject in all respects to, the ABL DIP Facility Documents and the DIP Order.

ABL DIP Facility means the postpetition financing facility provided for under the ABL DIP Facility Credit Agreement and the Final DIP Order.

ABL DIP Facility means that certain debtor-in-possession credit facility to be provided by the ABL DIP Lenders on the terms of and subject to the conditions set forth in the ABL DIP Credit Agreement.

ABL DIP Facility means the credit facilities made available to the Borrower pursuant to the ABL DIP Credit Agreement.

ABL DIP Facility means the “DIP ABL Facility” as defined in the DIP Order.

ABL DIP Facility means that certain debtor in possession credit facility entered into pursuant to the ABL DIP Facility Credit Agreement.