ABL Facility definition

ABL Facility the asset-based revolving credit facility made available to the Borrower pursuant to the ABL Facility Agreement.

ABL Facility means a lending facility pursuant to which the loans thereunder are secured by a perfected, first priority security interest in accounts receivable, inventory, machinery, equipment, or periodic revenues, where such collateral security consists of assets generated or acquired by the related Obligor in its business.

ABL Facility the collective reference to the ABL Credit Agreement, any ABL Loan Documents, any notes and letters of credit issued pursuant thereto and any guarantee and collateral agreement, patent and trademark security agreement, mortgages, letter of credit applications and other guarantees, pledge agreements, security agreements and collateral documents, and other instruments and documents, executed and delivered pursuant to or in connection with any of the foregoing, in each case as the same may be amended, supplemented, waived or otherwise modified from time to time, or refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to time (whether in whole or in part, whether with the original agent and lenders or other agents and lenders or otherwise, and whether provided under the original ABL Credit Agreement or one or more other credit agreements, indentures or financing agreements or otherwise) except to the extent such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Facility hereunder. Without limiting the generality of the foregoing, the term “ABL Facility” shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Borrower as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

Examples of ABL Facility in a sentence

• The Company may choose to redeem the Securities at any time; provided, however, that if the ABL Facility remains outstanding, the Securities may only redeemed at such time as the Payment Conditions are satisfied.

• The Trustee and Securities Collateral Agent shall have no duty to monitor the principal amount, or determine the maturity date, of the ABL Facility and shall be entitled to conclusively rely on the Officer’s Certificate delivered to it under Section 2.16(b) or written notice delivered by the Holders.

• Kodiak would have had approximately $1.1 billion of availability under the ABL Facility as of September 30, 2023, pending the expected draw down to consummate the Refinancing.

• In addition, as of September 30, 2023, the ABL Facility provided for unused commitments of $396.2 million.

• Kodiak used the net proceeds from the offering of the Kodiak Notes to reduce outstanding borrowings under the ABL Facility, which it expects to draw down to consummate the Refinancing.

More Definitions of ABL Facility

ABL Facility means the asset-based revolving credit facility made available to the Borrower and certain of its Subsidiaries pursuant to the ABL Credit Agreement.

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

ABL Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Parent Borrower as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

ABL Facility means the “Revolving Facility” and any “Incremental Facility,” each as defined in the ABL Credit Agreement.

ABL Facility means the credit facility governed by the ABL Credit Agreement and any Refinancing Indebtedness that refinances or replaces any part of the loans, notes, guarantees, other credit facilities or commitments thereunder.

ABL Facility means the senior secured asset-based revolving credit facility pursuant to the terms of the ABL Credit Agreement as it may be amended or refinanced in accordance with the terms thereof, hereof and the Intercreditor Agreement.

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