ABL Exit Facility definition

ABL Exit Facility means the new revolving asset-based credit facility in an aggregate amount of up to $80,000,000, entered into on the Effective Date on the terms and conditions set forth in the ABL Exit Facility Documents.

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

ABL Exit Facility means the revolving credit facility under the ABL Exit Facility Loan Agreement.

Examples of ABL Exit Facility in a sentence

• Except to the extent that a holder of a DIP ABL Facility Claim agrees to less favorable treatment, to the extent the Debtors exercise the ABL Exit Conversion, each holder of a DIP ABL Facility Claim shall receive ABL Exit Facility Loans in a face amount equal to the amount of such DIP ABL Facility Claim and shall otherwise be governed by the ABL Exit Facility Documents.

• On the Plan Effective Date, the Reorganized Debtors shall enter into the ABL Exit Facility, the terms of which shall be set forth in the ABL Exit Facility Documents.

• The foregoing documents shall be in form and substance acceptable to the Company, the Coalition of Prepetition Noteholders, the ORIX DIP Facility Lenders, the ORIX Exit Facility Lenders, the ORIX DIP Facility Agent, the ORIX Exit Facility Agent, the ABL DIP Facility Administrative Agent, and the ABL Exit Facility Administrative Agent.

• If the Debtors exercise the ABL Exit Conversion, on the Effective Date, the Debtors shall execute and deliver the ABL Exit Facility Loan Agreement, which shall become effective and enforceable in accordance with its terms and the Plan.

• On the Effective Date, a portion of the proceeds of the (a) ABL Exit Facility shall be used to pay ABL DIP Claims in full, and (b) Term Loan Exit Facility shall be used to pay Term Loan DIP Claims in full.

More Definitions of ABL Exit Facility

ABL Exit Facility means that certain new, asset-backed loan facility to be issued by the Reorganized Debtors on the Plan Effective Date in accordance with the ABL Exit Facility Documents.

ABL Exit Facility means the new $90 million asset-based revolving credit facility, which will have the terms set forth in the ABL Exit Facility Documents.

ABL Exit Facility means a new senior secured asset-based revolving credit facility, if any, in an aggregate principal amount of up to $562,110,500.00, on terms and conditions substantially consistent with the ABL Term Sheet.

ABL Exit Facility means a new senior secured asset-based revolving credit facility, in an aggregate principal amount and on terms to be set forth in the ABL Exit Facility Documents.

ABL Exit Facility means an asset-based revolving loan facility in an amountnot to exceed $350,000,000 on terms and conditions reasonably consistent with the Restructuring Support Agreement and otherwise reasonably acceptable to the Company and the Requisite Commitment Parties (provided, that to the extent inconsistent with the Restructuring Support Agreement or this Agreement, any economic treatment provided thereunder shall be acceptable to the Company and the Requisite Commitment Parties in their sole discretion).

ABL Exit Facility means that certain financing facility to be entered into on the Effective Date pursuant to the ABL Exit Facility Credit Agreement.

ABL Exit Facility. On the Plan Effective Date: (1) the Reorganized Debtors will incur a fully-perfected, first lien secured asset-based loan facility (the “ABL Exit Facility” and the loans thereunder, the “ABL Exit Loans”) in the aggregate maximum principal amount equal to the lesser of (a)(i) $101,200,000, on the Closing Date through and including October 31, 2023, and (ii) $90,000,000 on and after November 1, 2023, and (b) the Borrowing Base (as defined in the ABL Exit Facility Term Sheet); and (2) the DIP ABL Loans, together with any remaining outstanding Prepetition ABL Loans, shall, to the extent availability exists under the ABL Exit Facility, be refinanced on a dollar-for-dollar basis by means of a cashless settlement, in each case in accordance with the terms of the DIP ABL Documents and the ABL Exit Facility Documents. The ABL Exit Facility will be governed by the ABL Exit Facility Credit Agreement and other documentation necessary or appropriate to effectuate the incurrence of the ABL Exit Facility (collectively, the “ABL Exit Facility Documents”), which will include the following terms and will otherwise be substantially in accordance with the terms set forth in the ABL Exit Facility Term Sheet attached to the Restructuring Support Agreement as Exhibit [H]: · Maturity Date: As set forth in the ABL Exit Facility Term Sheet. · Interest: As set forth in the ABL Exit Facility Term Sheet · Borrowing Base: As set forth in the ABL Exit Facility Term Sheet.